Coronavirus update: U.S. death toll climbs above 150,000, and White House task force says 21 states are in the ‘red zone’

angel may

The U.S. death toll from the coronavirus illness COVID-19 climbed above 150,000 late Wednesday, and the White House task force created to manage the pandemic said 21 states are now in the “red zone.”

In a new report, the task force said Alabama, Arizona, Arkansas, California, Florida, Georgia, Idaho, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nevada, North Carolina, North Dakota, Oklahoma, South Carolina, Tennessee, Texas, Utah and Wisconsin each had recorded more than 100 new cases per 100,000 people in the last seven days.

The report advises those states to continue or enforce face-mask mandates; to close places where social distancing and mask use cannot occur, such as bars; to move to outdoor dining; to limit the number of people allowed to gather in one place; and to scale up testing, contract tracing and isolating, measures health experts have long said are needed to contain the spread.

President Donald Trump at

Read More

Former oil boss faces more charges in Mexico corruption case

angel may

Updated

Read More

ACCC proposes federal takeover of Murray-Darling Basin water markets

angel may



a river running through a body of water: Photograph: Jenny Evans/Getty Images


© Provided by The Guardian
Photograph: Jenny Evans/Getty Images

The Australian Competition and Consumer Commission has proposed a possible federal takeover of the water markets in the Murray-Darling Basin, licensing of water brokers and new robust rules and oversight in order to ensure the $1.5bn water market operates fairly.

But the report, which delivers a scathing assessment of how the markets are operating, does not support a return to the old system that existed before the Murray Darling Basin plan, where water entitlements were tied to land.

It argues that a return to the old system, which has been advocated by some farmers, would result in the loss of significant benefits that come from water trading, including more efficient use of water and allowing farmers to manage their water needs, trade water and free up capital.



a river running through a body of water: The Darling river at Louth, NSW. The Australian Competition and Consumer Commission has found the water markets in the Murray-Darling Basin have outgrown their current regulatory system run by the states and need robust new rules.


© Photograph: Jenny Evans/Getty Images
The Darling river at Louth, NSW. The Australian Competition

Read More

Trump emphasizes support for energy industry

angel may

During Midland visit, president signs permits to export Texas crude to Mexico  

Updated

Read More

Coronavirus rent relief: What to know about eviction moratoriums and your Aug. 1 due date

angel may

money fanned out on table

Congress has until Aug. 24 to extend the eviction ban established by the CARES Act; otherwise millions of renters could lose their homes.


Angela Lang/CNET
For the most up-to-date news and information about the coronavirus pandemic, visit the WHO website.

As many as 40% of US renters are at risk of losing their homes if the federal eviction moratorium established by the CARES Act is not extended or renewed, according to Statista. The CARES Act’s eviction safeguard expired July 25 and is thought to have helped as many as 23 million US families (roughly one-third of all US renters) stay in their homes during the coronavirus recession. Eviction notices are now legally allowed to proceed and evictions can begin starting Aug. 24.

Congressional Democrats introduced legislation Tuesday to address evictions, but it is the fourth such Democratic effort and the three before never made it to a vote. The 

Read More

Stock Market News: Fed Keeps Rates Near Zero

angel may

Here’s what you need to know:

Video

transcript

transcript

Economy’s Path Forward Is ‘Extraordinarily Uncertain,’ Powell Says

Federal Reserve Chair Jerome H. Powell said a full recovery was unlikely until Americans felt safe to “re-engage in a broad range of activities.”

The current economic downturn is the most severe in our lifetimes. It will take a while to get back to the levels of economic activity and employment that prevailed at the beginning of the year. And it will take continued support from both monetary and fiscal policy to achieve that. As we have emphasized throughout the pandemic, the path forward for the economy is extraordinarily uncertain, and will depend in large part on our success in keeping the virus in check. Indeed, we have seen some signs in recent weeks that the increase in virus cases and the renewed measures to control it are starting to weigh on

Read More

King County Council restricts coal mines, fossil fuel infrastructure in zoning and development changes

angel may

Evan Bush

The King County Council Friday approved changes to its land use and development regulations that make it more difficult to expand or develop major fossil fuel infrastructure in the county.

The county in 2019 passed a moratorium on developing such infrastructure.  

The new measures make it more difficult to construct pipelines or storage facilities for oil or natural gas. The changes do not apply to gas stations or existing fossil fuel infrastructure. 

Pipelines are regulated by the federal government and King County does not have direct control over them, but it can set strict requirements for zoning and development of some associated infrastructure.  

“We’re setting as high a bar as we legally can,” said Councilmember Dave Upthegrove, adding that he believed the changes will provide the maximum amount of protection against the harmful health impacts of fossil fuel infrastructure.

An amendment sponsored by Upthegrove will

Read More

With no new law to curb drug costs, Trump tries own changes

angel may



President Donald Trump speaks during an event to sign executive orders on lowering drug prices, in the South Court Auditorium in the White House complex, Friday, July 24, 2020, in Washington. (AP Photo/Alex Brandon)


© Provided by Associated Press
President Donald Trump speaks during an event to sign executive orders on lowering drug prices, in the South Court Auditorium in the White House complex, Friday, July 24, 2020, in Washington. (AP Photo/Alex Brandon)

WASHINGTON (AP) — Unable to land the big deal with Congress to curb drug costs, President Donald Trump has moved on his own to allow imports of cheaper medicines, along with other limited steps that could have some election-year appeal.

At a White House ceremony Friday, Trump signed four executive orders. One was about importation. The others would direct drugmaker rebates straight to patients, provide insulin and EpiPens at steep discounts to low-income people, and use lower international prices to pay for some Medicare drugs.

Trump cast his directives as far-reaching, but they mostly update earlier administration ideas that have not yet gone into effect.

“I’m unrigging the system that is

Read More

WeissLaw LLP Reminds TORC and VSLR Shareholders About Its Ongoing Investigations

angel may

NEW YORK, July 24, 2020 /PRNewswire/ —

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

 

resTORbio, Inc. (NASDAQ: TORC)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of resTORbio, Inc. (NASDAQ: TORC) in connection with the proposed merger of the company with privately-held biopharmaceutical company Adicet Bio, Inc. (“Adicet”).  Under the terms of the merger agreement, Adicet will merge with a wholly-owned subsidiary of TORC in an all-stock transaction, with the equityholders of Adicet becoming owners of 75% of the outstanding common stock of TORC upon the close of

Read More

If the Big Five Falter, the Rest of the Stock Market Could Be Deep-Sixed

angel may

Text size

Amazon.com is among the five stocks that have lifted the S&P 500 to within 5% of its record set last February


Elif Ozturk/Anadolu Agency via Getty Images

“If something cannot go on forever, it will stop.” So states Stein’s law, promulgated by the chairman of President Richard Nixon’s Council of Economic Advisers, Herbert Stein. While it is a tautology, Stein’s Law remains a useful reminder that seemingly unstoppable trends have limits.

The latest application appears to be the apparently irresistible outperformance of giant technology stocks that have not only led other equities higher, but also dominate the major averages that are weighted by market capitalization, such as the
S&P 500.

The good news is that the strength of the five biggest stocks—
Facebook
(ticker: FB),
Amazon.com
(AMZN),
Apple
(AAPL),
Microsoft
(MSFT), and
Alphabet
(GOOGL)—has lifted the S&P 500 to within 5% of its record set last February. The

Read More