- PoliticsYahoo News
The president repeatedly cited a projection that as many as 2.2 million people would have died if the administration had “done nothing” to mitigate COVID-19’s spread.
On average, each person with coronavirus passes on the disease to two other people. Here's how.
(Bloomberg) -- In one of the richest and stablest corners of the globe, about three-quarters of a million people are suddenly out of a job due to the economic standstill triggered by the spread of the coronavirus.With a combined population of roughly 27 million people, the Nordic region has seen almost 630,000 workers put on temporary leave in recent weeks, many without paychecks. Another roughly 105,000 have been fired, according to calculations by Bloomberg based on company statements and data provided by national authorities as of Monday.The head of the Confederation of Norwegian Enterprise, Ole Erik Almlid, likened the development to “a tsunami” that’s rolled over the country’s businesses. “And it’s getting worse,” he said.Knut Hallberg, senior economist at Swedbank, said the situation across the entire Nordic region is “severe.”Nordic populations rely on generous welfare states that ensure those dropping off payrolls still get some form of monthly support. And the region’s universal health care and free education add an additional layer of security. But even with those safety nets, the economic shock is painful.The Numbers -Temporary layoffs in Norway: 279,000; 29,000 jobs lostShort-term layoffs in Finland: 281,000; 4,900 redundanciesTemporary furloughs in Sweden: 50,000; 37,000 job cutsJob losses in Denmark: 31,000; estimated 70,000 people’s wages partially paid by the governmentPeople reduced to part-time work in Iceland: 17,500; 4,500 terminationsSome of the biggest Nordic companies are among those caving under the strain of the crisis. Truckmaker Volvo Group has temporarily laid off its entire 20,000-strong Swedish workforce. Airlines SAS AB, Finnair Oyj and Norwegian Air ASA have all put most of their employees on leave. Scandic Hotels Group AB has locked the doors of more than 60 hotels, while retailers including Hennes & Mauritz AB have sent thousands of shop staff home.It’s “easy to imagine that the high numbers we are seeing will increase dramatically if the economy doesn’t get restarted within a relatively short time,” said Helge Pedersen, chief economist at Nordea Bank in Copenhagen.Meanwhile, Nordic governments are struggling to provide disaster relief, including subsidies of as much as 75% of wages. The goal is to prevent temporary layoffs becoming permanent.But despite these programs, there’s one group that still faces a “very, very dark situation,” according to Hallberg at Swedbank, and that’s young graduates.“If it lasts only a couple of months or a couple of quarters, it’s not a problem,” he said. “But three to four years of unemployment after school could destroy career potential and lead to lower income for life.”(Updates Finnish job cut numbers)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Mercedes Formula One, along with engineers at University College London and clinicians at University College Hospital London (UCLH), has developed a machine that eliminates the need for ventilators for COVID-19 patients. What Happened The Medicines and Healthcare Regulatory Authority, which regulates medical devices in the United Kingdom, has given its approval to the device, which will be delivered to the UCLH and three other hospitals for trials, according to the BBC.If these trials are successful, up to 1,000 Continuous Positive Airway Pressure (CPAP) devices could be made with production starting next week.Andy Cowell, Managing Director of the Daimler AG (OTC: DDAIF) owned Mercedes-AMG High-Performance Powertrains, commented on the support that the Formula One community was extending to the battle against the pandemic, "We have been proud to put our resources at the service of UCL to deliver the CPAP project to the highest standards and in the fastest possible timeframe."Why It Matters Medical device development can take years, but University College London engineers reverse-engineered a simple device to produce the ventilator substitute quickly and at scale.As CPAP machines push an air-oxygen mix into the lungs in a steady flow at high pressure, there is no need to use a face mask, heavy sedation, or to insert a tube into the airway.CPAP machines are being used in the treatment of COVID-19 in China and Italy. In Italy, over 2,000 patients are currently utilizing such machines.Price Action On Friday, Daimler OTC shares closed 7.26% lower at $30.The company's shares closed 8.06% lower at $30.13 in Frankfurt. See more from Benzinga * Trump Boasts About His Coronavirus Briefing Ratings Being As High As 'The Bachelor' * Mark Zuckerberg And Priscilla Chan Donate M To Gates Foundation Coronavirus Accelerator * Cramer Reveals Stock Favorites, Says Intuitive Surgical A 'Winner'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- U.S.Business Insider
I was a nurse for 30 years. We're being drafted into war, but our commander-in-chief refuses to give us the weapons and protection we need to fight it.
Alix Atwell says she and her fellow nurses have been sounding the alarm for years, but the message landed on "deaf, greedy ears."
- LifestyleSouthern Living
During the coronavirus quarantine, it’s no surprise the Southern Living editors are turning to cooking and baking for comfort. Whether you’re looking for recipes that freeze well, use pantry staples, or you just want some classic comfort food during this weird time, just like they have for more than 50 years, the editors of Southern Living have your back through this, too. Food connects, consoles, nurtures, and provides for us—let’s use our ingredients smartly and savor every bite. From breakfast to dinner and dessert, these are the quarantine recipes our staff is relying on.
- CelebrityWomen's Health
Jessie James Decker has opened up about her body insecurities on Instagram. She talked about having loose skin after having three children and how it worries her when wearing a bikini.