Economy
Biggest U.S. Retailers Charter Private Cargo Ships to Sail Around Port Delays – WSJ
Global supply-chain delays are so severe that some of the biggest U.S. retailers have resorted to an extreme—and expensive—tactic to try to stock shelves this holiday season: They are chartering their own cargo ships to import goods.
Stocks Rebound While Crude Oil Hovers Near $81 – Bloomberg
Stocks rebounded on speculation that inflation pressures — largely fueled by a jump in energy costs — will be transitory and won’t derail the economic rebound. Oil rallied.
The S&P 500 erased losses, led by commodity and financial shares. West Texas Intermediate crude climbed to a seven-year high and China’s coal futures hit a record. Aluminum jumped to the highest since July 2008 as a deepening power crisis is squeezing supplies of the energy-intensive metal that’s used in everything from beer cans to iPhones. The cash Treasury market is closed for a holiday. The dollar fluctuated.
Brent Crude Nears $85 As Global Energy Crisis Worsens – OilPrice.com
Oil prices extended Friday’s rally into Monday, with the U.S. benchmark topping $81 and trading just shy of $82 a barrel as Europe and Asia continue to struggle to secure energy supply for the winter.
As of 8:21 a.m. EDT on Monday, the front-month WTI Crude contract traded at $81.75, up by 3.00%. The international benchmark, Brent Crude, was up 2.35% at $84.34.
Oil extended the rally from last week, which saw the U.S. benchmark topping the $80 per barrel for the first time since 2014.
Southwest cancels more than 1,000 weekend flights – CBS
Southwest Airlines canceled hundreds of flights over the weekend, blaming the woes on air traffic control issues and weather. The airline canceled more than 1,000 flights, or 28% of its schedule, as of 5 p.m. ET Sunday, according to flight tracker FlightAware. That was the highest rate by far of the major U.S. airlines. Next in line were Allegiant and Spirit, which had respectively canceled 5% and 4% of their flights on Sunday, according to the flight tracker. American Airlines canceled 2% of its flights.
Environment
Unprecedented rise of heat and rainfall extremes in observational data – Science Daily
Observation data analysis reveals a 90-fold increase in the frequency of monthly heat extremes, so-called 3-sigma-events that deviate strongly from what is normal in a given region, in the past ten years compared to 1951-1980. Record daily rainfall events also increased in a non-linear way — on average, 1 in 4 rainfall records in the last decade can be attributed to climate change. Seemingly small amounts of additional warming push up extreme events substantially.
One-fourth of US infrastructure is at risk of flooding amid ‘changing environment,’ report says – USA Today
One-fourth of the United States’ “critical” infrastructure is at risk of flooding, a report released Monday warns. The report pinpoints the nation’s flood risk to critical infrastructure, such as utilities, airports, ports and emergency services like police, fire and hospitals, in addition to residential properties, commercial properties, streets and local roads and social infrastructure such as schools and government buildings.
Health
AstraZeneca Antibody Drug Effective at Treating Mild Covid in Trial – Bloomberg
AstraZeneca Plc’s antibody cocktail was effective at preventing mild or moderate Covid-19 infections from worsening in a study that bolsters the drugmaker’s ambitions for the product.
The cocktail halved the risk of severe illness or death compared with a placebo in 822 participants who had been symptomatic for a week or less and weren’t hospitalized, Astra said in a statement Monday.
Merck Asks FDA to Authorize Promising Covid-19 Pill – WSJ
Merck & Co. and partner Ridgeback Biotherapeutics LP said Monday they have filed an application asking U.S. health regulators to authorize their Covid-19 pill, the next step toward adding a long-sought drug for use at home.
The filing comes shortly after data from a late-stage study showed that the antiviral drug, molnupiravir, cut the risk of hospitalization or death by about 50% in high-risk people with mild to moderate Covid-19.
Getting flu with Covid doubles risk of death, says UK health chief – Guardian
People who catch flu and Covid at the same time this winter are twice as likely to die than those who only have coronavirus, according to the UK Health Security Agency chief executive, Dr Jenny Harries.
The former deputy chief medical officer for England warned that the UK faces an “uncertain” winter – with both flu and Covid-19 circulating for the first time – and urged people to take up both the coronavirus and flu jabs if eligible.
Western Pa. hospitals: We won’t deny organ transplants to patients who refuse covid-19 vaccine – TRIB
Medical providers in Colorado and Washington state have begun denying organ transplants to patients who refuse to get vaccinated for covid-19.
That’s not happening in Western Pennsylvania, the Tribune-Review has learned.
Neither of the region’s two largest hospital systems and transplant providers are linking transplant eligibility to covid-19 vaccination status.
As Biden’s vaccinate-or-test mandate approaches, questions arise over enforcement – NBC
resident Joe Biden says his sweeping Covid-19 vaccination and testing mandate will boost the economy and save lives, but as businesses prepare for the new requirement, they’re wondering not only what will be in the regulation, but how it will be enforced.
The post Daily Digest 10/11 — Biggest U.S. Retailers Charter Private Cargo Ships to Sail Around Port Delays; Stocks Rebound While Crude Oil Hovers Near $81… appeared first on Peak Prosperity.
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