Economy
FDA Panel Recommends COVID-19 Vaccine For Emergency Use
In a 17-4 vote, with one abstention, a panel of advisers to the Food and Drug Administration recommended Thursday that the COVID-19 vaccine being developed by Pfizer and BioNTech be authorized for emergency use during the coronavirus pandemic.
The vote in favor of the vaccine was taken to answer the agency’s question: Do the benefits of the Pfizer-BioNTech COVID-19 vaccine outweigh its risks for use in people age 16 and older?
Clorox says product shortages to stretch through mid-2021
As coronavirus cases surge around the country, California-based Clorox Co. is struggling to meet demand for its cleaning and disinfecting products, warning that shortages will extend through mid-2021.
The bleach maker had previously hoped to be fully restocked by this summer, but disinfecting products are critical in preventing transmission of COVID-19 as the U.S. breathlessly waits for a vaccine rollout. The disease has killed 289,000 Americans, a higher toll than in any other nation.
Airbnb Now A $100 Billion Company After Stock Market Debut Sees Stock Price Double
A company that started as a single air mattress for rent in a San Francisco apartment is now worth $100 billion. Airbnb made its long-awaited stock market debut on Thursday and more than doubled its offering price.
From afar, it may have appeared as a peculiar time for a lodging company to go public, as the coronavirus continues to devastate the travel and hospitality industry. Wall Street, however, has a different story to tell.
Loss of snowbirds due to pandemic another hit to US tourism
Snowbirds like the Monks, often retirees who live somewhere warm like Arizona or Florida part time to escape cold weather, won’t be flocking south this winter. For Canadians who drive, nonessential border travel is banned until at least Dec. 21. For some, it’s fear of the virus.
While their absence is being felt by vacation rentals, restaurants and shops, RV parks and campgrounds are seeing an increase in campers as people travel closer to home.
Why Untapped Billions in Pandemic Aid Funds Are in Limbo
The U.S. government’s central economic response to the coronavirus, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (“Cares”) Act enacted in March, included $500 billion in financing to avert a crippling credit crunch. Much of that funding remains untapped, and what happens to it going forward is a point of contention between the outgoing Trump administration and the incoming Biden one.
Inside a vaccine cold storage room
Transporting temperature-sensitive medication – like a Covid-19 vaccine – is a massive logistical challenge. Keeping vaccines at the right temperature is crucial. Tom Vanmolkot from Zuellig Pharma shows the BBC’s Karishma Vaswani around a cold storage facility in Singapore.
Covid-19 Is Creating a New Kind of Financial Midlife Crisis
The Covid-19 pandemic has created such a shock to people’s lives, it’s prompted a financial reckoning akin to a midlife crisis.
Just ask Stacy Small, 51. The Maui resident’s profitable high-end travel business had allowed her to buy her dream beach house and drive a Porsche Cayenne. On March 20, she was forced to cancel a year’s worth of bookings, losing hundreds of thousands of dollars in income. Within a week, she cut ties with 28 independent contractors. Around the same time, three close friends were diagnosed with Stage 4 cancer, while others battled Covid.
Earlier this year, two diners at a South Korean restaurant were infected with novel coronavirus in a matter of minutes from a third patron who sat at least 15 feet away from them. The third patron was asymptomatic at the time. After dissecting that scene from June, South Korean researchers released a study last month in the Journal of Korean Medical Science that suggests the virus, under certain airflow conditions, travels farther than six feet and can infect others in as little as five minutes.
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The post Daily Digest 12/12 – FDA Panel Recommends COVID-19 Vaccine For Emergency Use, Clorox says product shortages to stretch through mid-2021 appeared first on Peak Prosperity.
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