U.S. Posts Daily Records in Cases, Hospitalizations and Deaths for the First Time Since Spring – NBC Los Angeles
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks.
The U.S. reported a record number of daily new Covid-19 cases, current hospitalizations and single-day deaths on Thursday, a serious indication that the national virus crisis is only getting worse. The country recorded 217,664 people newly infected with the virus, 100,667 patients sick and hospitalized, and 2,879 Covid-related deaths. The data has been difficult to interpret in the past week due to Thanksgiving-related reporting pauses and backlogs, but the trends are clear: The U.S. is heading in the wrong direction.
The following data was compiled by Johns Hopkins University:
- Global cases: More than 65.39 million
- Global deaths: At least 1.5 million
- U.S. cases: More than 14.14 million
- U.S. deaths: At least 276,406
SEC charges Cheesecake Factory with misleading investors about Covid impact
The Cheesecake Factory is the first company to be charged by the Securities and Exchange Commission for misleading investors about the financial impacts of the coronavirus pandemic.
According to the regulator, the restaurant company did not share enough information about its cash burn in its March 23 and April 3 filings, although internal documents showed that it was disclosing those details to potential private equity investors or lenders. The SEC also said that the company didn’t disclose that it wouldn’t pay April rent in its March 23 filing, although it had already told landlords of that plan.
The Cheesecake Factory settled with the SEC without admitting wrongdoing and will pay a $125,000 fine.
Petco files to go public as consumers spending more on pets
Petco Health and Wellness has filed for an initial public offering as the coronavirus pandemic drives consumers to adopt new pets, fueling growth for the pet care industry.
Petco is projecting a $4 billion increase in spending for pets this year and a 4% jump in adoptions. In the first ten months of the year, the retailer saw same-store sales rise by 9.6%.
Rival Chewy, which went public more than a year ago, has seen its stock price rise more than 150% so far this year in the wake of the trend.
Boeing further trims 787 production rate as international travel suffers
Boeing is lowering its already reduced production target for its 787 Dreamliners to five a month next year from a goal of six as international travel continues to suffer, says CFO Greg Smith at an industry conference. The company was producing 10 a month.
The widebody aircraft are used for long-haul international routes, demand for which have suffered more than shorter, domestic flights, the result of the virus and a host of travel restrictions aimed at stopping it from spreading it.
Boeing in October said it would consolidate Dreamliner production in South Carolina.
Smith said the “single biggest driver” of cash flow recovery will be deliveries of the 737 Max. The Federal Aviation Administration in mid-November lifted a 20-month ban on the planes following two fatal crashes in 2018 and 2019, clearing the way for deliveries to resume.
Jobs growth falls off sharply in November
Nonfarm payrolls rose by just 245,000 in November, well below the 440,000 jobs Wall Street economists expected. The shortfall comes as rising coronavirus cases coincide with a significant slowdown in hiring, CNBC’s Jeff Cox reports.
A monthly jobs gain of 245,000 would be considered strong under normal circumstances, but the Covid-19 pandemic has left millions of Americans unemployed amid widespread shutdowns.
The national unemployment rate now stands at 6.7%, right in line with economists’ expectations and down from 6.9% in October.
Fauci says he accepted President-elect Biden’s offer to stay on as chief medical advisor
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said he’s accepted President-elect Joe Biden’s offer to stay on at the White House as advisor on the coronavirus pandemic.
Biden said in an interview with CNN’s Jake Tapper on Thursday that he and his Covid-19 advisors met with Fauci that afternoon. The president-elect said he asked Fauci to continue “in the exact same role he’s had for the past several presidents” and to remain as a medical advisor to the incoming administration.
“Absolutely, I said yes right on the spot,” Fauci told NBC’s “TODAY.”
Fauci previously said he plans to remain in his post at NIAID, a position he’s held for more than 30 years, for the foreseeable future even if a new administration were to move into the White House.
Biden to enact a mask mandate on federal property and interstate transportation
President-elect Joe Biden said Thursday that as soon as he is sworn in, he plans to require masks on all federal property and on interstate transportation.
“Where the federal government has authority, I’m going to issue a standing order that, in federal buildings, you have to be masked, and, in interstate transportation, you must be masked on airplanes and buses, etc.,” Biden told CNN in a wide-ranging interview.
“The first day I’m inaugurated, I’m going to ask the public for 100 days to mask,” Biden said. “Just 100 days to mask. Not forever, 100 days.”
“I think we’ll see a significant reduction” in Covid transmission, he said.
This approach is a stark departure from that of President Donald Trump, who has largely refused to wear a mask himself and questioned their efficacy, turning a public health measure into a political litmus test.
Uber asks U.S. CDC to consider ride-hail drivers essential for Covid vaccine distribution
Uber petitioned the U.S. Centers for Disease Control and Prevention on Thursday to designate its ride-hail and delivery drivers as non-health essential workers, in the hope they would be entitled to have earlier access to the Covid-19 vaccine when it becomes available, Reuters reports.
In a letter to the CDC’s Advisory Committee on Immunization Practices, Uber explained that its drivers provided critical transportation for essential workers and allowed others to stay home and order food, according to the wire service.
“Early access to a vaccine would help drivers and delivery people continue to play their essential role while also reducing the risk that they may inadvertently contract, or possibly transmit, the virus,” Uber’s head of federal affairs, Danielle Burr, said in the letter.