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    Pfizer delays its FDA application to expand its Covid vaccine to kids under 5 until April

    Pfizer and BioNTech said they needed more data “because rates of infection and illness remain high in children of this age” due to the omicron variant.
    Dr. Peter Marks, head of the FDA division responsible for vaccine safety, said the sudden decision to delay authorization should reassure parents that the FDA is doing due diligence to make sure the vaccine is safe and effective for kids.
    Marks said parents will have to rely on mitigation measures to protect their children as they wait for the vaccine’s authorization in the coming months.

    Pfizer and BioNTech on Friday said they were delaying their request for the Food and Drug Administration to authorize their Covid-19 vaccine for children under 5 until early April, waiting on more data on the effectiveness of a third dose.
    “Given that the study is advancing at a rapid pace, the companies will wait for the three-dose data as Pfizer and BioNTech continue to believe it may provide a higher level of protection in this age group,” Pfizer said in a statement. Pfizer said it needed more data “because rates of infection and illness remain high in children of this age” due to the omicron variant.

    The FDA said it’s postponing a meeting Tuesday that was scheduled to look at the kids’ data.
    The delay comes as a disappointment to parents who are anxiously awaiting the chance to vaccinate their children against Covid. Children under 5 years old are the last age group left in the U.S. that isn’t eligible for vaccination.

    Brayden Burton, 3, plays with child life specialist Maggie Kail, CCLS while being treated for coronavirus disease (COVID-19) at the Children’s Hospital of Georgia in Augusta, Georgia, U.S., January 14, 2022.
    Hannah Beier | Reuters

    Dr. Peter Marks, head of the FDA division responsible for vaccine safety, said data had rapidly come from Pfizer and BioNTech indicating that it was best to wait for data on a third dose. He said the sudden decision to delay authorization should reassure parents that the FDA is doing due diligence to make sure the vaccine is safe and effective for kids.
    “Rather than having any issue of causing anyone to question the process, I hope this reassures people that the process has a standard, that the process is one that we follow, and we follow the science in making sure that anything that we authorize has the safety and efficacy that people have come to expect from our regulatory review of medical products,” Marks told reporters during a press call Friday.
    Marks said parents will have to rely on mitigation measures to protect their children as they wait for the vaccine’s authorization in the coming months. Those measures include masking and making sure everyone in the family who is eligible gets vaccinated.

    U.S. health regulators have faced growing public pressure to authorize the shots as hospitalizations of children with Covid have increased during the unprecedented wave of infection caused by omicron. The FDA had originally asked Pfizer and BioNTech to submit an authorization request for the first two doses of the vaccine, while they finish collecting data on the efficacy of the third dose.
    Pfizer and BioNTech, at the FDA’s request, submitted an application last week for authorization of the first two doses, citing an “urgent public health need” for younger children during the omicron wave. However, Pfizer CEO Albert Bourla said at the time that kids under 5 would ultimately need a third dose to have the highest level of protection against omicron and future variants.
    Pfizer amended its clinical trial for younger kids in December to study the third shot after the first two doses did not produce an adequate immune response in children 2 to 4 years old. Younger kids will receive a smaller, 3-microgram dose, compared with the 30 microgram shots that are approved for adults.
    White House chief medical advisor Dr. Anthony Fauci said last month that he hoped the FDA would expand eligibility for the vaccine to younger kids in February.
    The Centers for Disease Control and Prevention had already started laying the groundwork to distribute the shots this month, telling state and local health officials earlier this week they could receive their first shipments by Feb. 21. However, the CDC said shipment would start only when the FDA authorizes the vaccine, and administration of the shots could not begin until the CDC gave its endorsement.
    The CDC plans to roll out 10 million doses in three phases as soon as the FDA authorizes the lower-dose, 3-microgram Pfizer and BioNTech shot for children 6 months to 4 years old, according to a new planning document quietly issued Sunday. State and local health officials could start preordering the first doses Monday.

    CNBC Health & Science

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    Judge grants injunction to end Canadian bridge blockade, remove protesters

    Officials are preparing to move against a group of truck drivers who have blocked the nation’s busiest border bridge between the U.S. and Canada in protest of the country’s Covid vaccine mandate.
    The blockade, now in its fifth day, has brought travel over the Ambassador Bridge between Detroit and Windsor, Ontario, which accounts for a quarter of goods traded between the countries, to a halt.
    A Canadian judge Friday afternoon approved an injunction request to end the blockade.

    Vehicles clog downtown streets as truckers and supporters continue to protest coronavirus disease (COVID-19) vaccine mandates, in Ottawa, Ontario, Canada, February 10, 2022.
    Blair Gable | Reuters

    DETROIT – Canadian officials are preparing to move against a group of truck drivers who have blocked the nation’s busiest border bridge between the U.S. and Canada in protest of the country’s Covid-19 vaccine mandate.
    The blockade, now in its fifth day, has brought traffic to a halt over the Ambassador Bridge between Detroit and Windsor, Ontario, which accounts for a quarter of goods traded between the two countries.

    Chief Justice Geoffrey Morawetz of Ontario’s Superior Court approved an injunction request Friday by the City of Windsor and business leaders and groups, including the Canadian Automotive Parts Manufacturers’ Association, to end the blockade.
    Morawetz said the 10-day injunction, although approved, will not go into effect until 7 p.m. Friday to give the protesters time to leave. Windsor police immediately warned that demonstrators blocking the streets could be subject to arrest and their vehicles may be seized, according to the Associated Press.
    Attorneys for those seeking the 10-day injunction said they don’t necessarily expect the protesters to completely leave the area, however the ruling is designed to ensure vehicles can cross the bridge.

    “The intention of this order is to ensure that there is a flow of traffic,” Morawetz said.
    An estimated 10,000 commercial vehicles cross the bridge every day with $325 million of goods, according to the Michigan Treasury Department. That includes about $50 million for automotive manufacturing.

    The rulinging comes after Ontario Premier Doug Ford on Friday declared a state of emergency in the Canadian providence, saying at a news conference that authorities plan to enact temporary orders to fine protesters blocking the bridge up to 100,000 Canadian dollars ($78,500) and sentence them to up to a year in jail.
    “Make no mistake: this is a pivotal moment for our nation. The eyes of the world are upon us right now, and what they are seeing is not who we are,” he said. “As a province, as a nation, we must collectively draw a line. We must stand for the values that define us.”

    ‘Quick action’

    The protest has drawn the attention of the White House in recent days, as the blockade has caused parts shortages for some companies, most notably automakers. General Motors, Ford Motor, Honda Motor, Toyota Motor and Stellantis have all had to cut or limit production shifts due to parts shortages caused by the protesters.
    Prime Minister Justin Trudeau on Friday promised President Joe Biden “quick action” on steps to restore traffic on the bridge, White House press secretary Jen Psaki told reporters at a briefing.

    A person gives a peace sign and trucks honk their horns again, as truckers and supporters continue to protest coronavirus disease (COVID-19) vaccine mandates, in Ottawa, Ontario, Canada, February 11, 2022.
    Lars Hagberg | Reuters

    “The President expressed his concern that U.S. companies and workers are experiencing serious effects, including slowdowns in production, shortened work hours, and plant closures,” she said. “The Prime Minister promised quick action in enforcing the law, and the President thanked him for the steps he and other Canadian authorities are taking to restore the open passage of bridges to the United States.”
    The protesters agreed just before Ford’s comments to open one lane of traffic that exits the bridge, CBC News reported Friday. The decision also came before an Ontario court hearing started Friday afternoon regarding an injunction seeking to end the blockade.
    A lawyer representing Canada’s Automotive Parts Manufacturers’ Association, which is part of a group seeking the injunction, argued that the one lane being open should not impact any decision by the court.
    “It can be closed as quickly as it can be opened,” said attorney Michael Wills. “We are operating under the assumption that the bridge is shut down.”

    Auto production

    The blockade has caused full or partial shutdowns of several plants in the U.S. and Canada for the Detroit automakers as well as Honda and Toyota. The impacts have ranged from complete plant closures to shifts being canceled or workers being sent home early once they run out of parts.
    The blockade exacerbates an already tumultuous time for auto production, as companies continue to grapple with a prolonged semiconductor chip shortage that has caused sporadic closures of plants over the past year.

    GM spokesman Dan Flores on Friday confirmed first shift production of heavy-duty pickups at a plant in Flint, Michigan, was impacted by a parts shortage due to the blockade. Output is expected to resume for a second shift Friday afternoon, he said.
    Ford is running an engine plant in Windsor and an assembly plant in Oakville, Ontario, on a reduced schedule, spokeswoman Kelli Felker said Friday. The automaker also idled production Friday of its medium-duty truck production in Ohio due to the problem, she said.
    “This interruption on the Detroit/Windsor bridge hurts customers, auto workers, suppliers, communities and companies on both sides of the border that are already two years into parts shortages resulting from the global semiconductor issue, COVID and more,” she said in an emailed statement. “We hope this situation is resolved quickly because it could have widespread impact on all automakers in the U.S. and Canada.”
    Spokespeople for Honda and Toyota also have confirmed production impacts due to the parts shortage at select plants in the U.S. and Canada.

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    Netflix to remove 'Daredevil,' other Marvel shows, from streaming platform March 1

    Netflix’s Marvel-branded television shows will be leaving the streaming service March 1.
    The platform’s license of the content has ended and rights have reverted back to Disney.
    It is currently unclear when these shows will be available through Disney’s streaming services, and if they will be made available on Disney+, with its other Marvel content, or on Hulu.

    Krysten Ritter, Finn Jones, Charlie Cox and Mike Colter star in Netflix’s “The Defenders.”

    Netflix’s suite of Marvel-branded television shows will be leaving the streaming service.
    Eagle-eyed viewers spied a message on the platform, which informed subscribers that “Daredevil,” “Jessica Jones,” “Luke Cage,” “Iron Fist,” “The Punisher” and “The Defenders” would only be available until March 1.

    The shows, released between 2015 and 2019, were made before Disney decided to create its own slate of Marvel titles connected to its cinematic universe. Netflix’s license of the content has ended and rights have reverted back to Disney.
    It is currently unclear when these shows will be available through Disney’s streaming services, and if they will be made available on Disney+, with the company’s other Marvel content, or on Hulu.

    Contracts with Netflix previously prevented title characters from appearing in any non-Netflix series for two years after their cancellation. However, those terms have ended, which allowed Charlie Cox to reprise his role as Matthew Murdock, aka Daredevil, in the Sony-Disney co-production “Spider-Man: No Way Home” and Vincent D’Onofrio to appear as Wilson Fisk, aka Kingpin, in the Marvel show “Hawkeye.”

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    Jeffrey Gundlach says the Fed is 'obviously behind the curve,' will raise rates more than expected

    DoubleLine Capital CEO Jeffrey Gundlach said Friday the Federal Reserve is failing in its battle against a spike of inflation, and the central bank is likely to accelerate its rate hikes this year.
    “One thing we can all agree on is inflation just continues to surprise on the upside. The Fed is obviously behind the curve. … It’s going to have to raise rates more than the market still thinks,” Gundlach said Friday on CNBC’s “Halftime Report.” “My suspicion is they are going to keep raising rates until something breaks, which always happens.”

    His comments came as inflation surged to a fresh four-decade high with the consumer price index rising 7.5% year over year. In 2020, the Fed adopted a new monetary policy framework where it seeks to achieve inflation that averages 2% over time and tolerate price rises above that level for a while.
    Gundlach said he’s doubtful that the red-hot inflation will decelerate as much as the central bankers are expecting due in part to extended supply chain challenges.
    “I do expect [inflation] to come down, but I think it’s going to be disappointing, the pace and the degree to which it’s going to come down,” Gundlach said. “We think inflation is very likely to print at least 5% for 2022.”

    The so-called bond king forecast five interest rate hikes this year, adding there’s a 1 in 3 chance the Fed will increase rates by a larger-than-usual 50 basis points in March.
    On Thursday after the release of inflation data, St. Louis Fed President James Bullard said he was open to a 50 basis point hike in March, or an increase of 0.5%. He also said he wanted to see a full percentage point of rate rises by July. Still, the presidents of the Atlanta, Richmond, Virginia, and San Francisco Feds pushed back against the idea of a double hike.

    Gundlach said it’s going to be a “tough environment” for risk assets as the Fed embarks on its tightening cycle.
    “Interest rates are going higher. Every risk asset has to reprice based upon these higher interest rates,” he said.
    Gundlach sees the 10-year Treasury yield to exceed 2.5% this year. He also said, “It’s possible the 10-year takes a peek at 3%.”
    The benchmark Treasury yield has spiked a great amount in 2022, rising almost 50 basis points from 1.51% at the end of last year. The rate topped 2% for the first time since 2019 on Thursday.Correction: In 2020, the Fed adopted a new monetary policy framework. An earlier version misstated the year.

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    Netflix is going to do a series on accused bitcoin hack money launderers busted in biggest DOJ forfeiture case

    The bizarre case of a New York couple accused of trying to launder $4.5 billion in bitcoin stolen by a 2016 hack will be the subject of a docuseries on Netflix.
    The announcement comes just three days after the couple, Ilya “Dutch” Lichtenstein and Heather “Razzlekhan” Morgan were arrested in their lower Manhattan apartment.
    The Department of Justice at the time of the arrest said it had also seized more than $3.6 billion in bitcoin that was part of the alleged scheme, the biggest such financial seizure in DOJ history.
    Netflix said the series on the couple will be directed by Chris Smith, who previously helmed the Netflix series about the fraudulent Fyre Festival.

    Chesnot | Getty Images

    The bizarre case of a New York couple accused of trying to launder $4.5 billion in bitcoin stolen by a 2016 hack will be the subject of a docuseries on Netflix, the streaming company said Friday.
    The announcement comes just three days after the couple, Ilya “Dutch” Lichtenstein and Heather “Razzlekhan” Morgan were arrested in their lower Manhattan apartment.

    The Department of Justice at the time of the arrest said it had also seized more than $3.6 billion in bitcoin that was part of the alleged scheme, the biggest such financial seizure in DOJ history.
    Netflix said the series on the couple will be directed by Chris Smith, who previously helmed the Netflix series “FYRE: The Greatest Party That Never Happened,” about the fraudulent Fyre Festival, and was executive producer of the company’s Covid pandemic smash hit “Tiger King.”

    The deal, which comes only a few days after the original story broke, comes amid a rise in appetite by Hollywood for stories about — mostly failures and fraud — in tech.
    HBO this week ordered a series based on Facebook called “Doomsday Machine,” which will depict Sheryl Sandberg, played by “The Crown” star Claire Foy, and Mark Zuckerberg and “chronicling the political and social minefields Facebook has navigated on its relentless quest for growth.
    It also comes as Hulu dropped the trailer for its forthcoming series about failed blood startup Theranos called “The Drop Out” and Apple recently dropped its trailer for WeWork-inspired series “WeCrashed.”

    Undoubtedly fueling Netflix’s interest is the colorful social media footprint of Morgan, a 31-year-old former Forbes.com contributor and self-described “irreverent comedic rapper” and “crocodile of Wall Street,” whose videos of her rapping were widely mocked on Twitter after her arrest.
    “As the value of the stolen bitcoin soared from $71 million at the time of the hack to nearly $5 billion, the couple allegedly tried to liquidate their digital money by creating fake identities and online accounts, and buying physical gold, NFTs, and more – all while investigators raced to track the money’s movement on the blockchain,” Netflix said in its announcement Friday.

    CNBC Politics

    Read more of CNBC’s politics coverage:

    Prosecutors say the couple tried to hide the source of bitcoin stolen in the hack of the cryptocurrency exchange Bitfinex in 2016 through numerous Byzantine transactions.
    Lichtenstein, 34, and Morgan remain in federal custody. They are due to appear in U.S. District Court in Washington, D.C. for a hearing on whether they can be released on bail.
    Prosecutors want to keep them locked up pending trial in D.C.
    But their defense lawyers want them released on bail set Tuesday in New York by another judge, who set a $5 million bond for Lichtenstein, and $3 million for Morgan.
    One of their lawyers said Wednesday in a court filing that the couple is not a flight risk because they “previously froze several of ]Morgan’s] embryos at a hospital in New York in anticipation of starting a family together, as she can only conceive through in vitro fertilization.”
    “The couple would never flee from the country at the risk of losing access to their ability to have children, which they were discussing having this year until their lives were disrupted by their arrests in this case,” the lawyer wrote.

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    Omicron is fading, but nobody knows when the pandemic will finally end

    The World Health Organization generally defines pandemic as uncontrolled spread of a virus across the globe, and an epidemic is when the spread is limited to a country or region.
    A steady level of transmission that doesn’t result in a widespread outbreak is generally considered endemic.

    Residents wait in line at a Covid-19 mobile testing site in the Times Square neighborhood of New York, U.S., on Sunday, Dec. 5, 2021.
    Jeenah Moon | Bloomberg | Getty Images

    Senior U.S. health officials have sought to reassure a pandemic-weary public that the country is moving closer to a time when Covid-19 won’t dominate our daily lives, as an unprecedented surge of infections and hospitalizations declines in many parts of the country.
    White House chief medical advisor Dr. Anthony Fauci said in an interview this week the U.S. is heading out of the “full-blown pandemic phase” of Covid-19. Fauci has made clear the U.S. won’t eradicate Covid, but he’s confident the nation can bring the virus under control so it no longer threatens to push hospitals to their breaking point or disrupt the economy. At that moment, people could return to a semblance of normal life after two years of disruption and uncertainty following repeated waves of infection.

    “The president has been clear that we’re moving toward a time when Covid won’t disrupt our daily lives, a time when Covid won’t be a constant crisis so we’re no longer fearing lockdowns and shutdowns, but getting back to safely doing what we all love,” Jeff Zients, the White House’s Covid response coordinator, said during a news conference Wednesday.

    Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, answers questions during a Senate Health, Education, Labor, and Pensions Committee hearing to examine the federal response to the coronavirus disease (COVID-19) and new emerging variants at Capitol Hill in Washington, D.C., U.S. January 11, 2022.
    Greg Nash | Reuters

    More mild

    Real-world studies from around the globe have demonstrated that the omicron variant, though more contagious, generally doesn’t make people as sick as delta. While infections have skyrocketed, hospitalizations and deaths have not risen at the same rate.
    Doctors and infectious disease experts in South Africa, in a recent study, said the variant’s rapid surge and decline in that country demonstrated a significantly different trajectory than past strains. They say it could be a sign the pandemic will transition into an endemic phase that is less disruptive to society.
    “Endemic in general means where you have disease that occurs at a regular and predictable level,” said Dr. James Lawler, an infectious disease expert at the University of Nebraska. “There’s endemic flu and then there’s epidemics of flu every season. Those epidemics generally are predictable and occur within a forecasted range.”
    There isn’t a precise definition of endemic. The World Health Organization generally defines pandemic as uncontrolled spread of a virus across the globe, and an epidemic is when the spread is limited to a country or region. A steady level of transmission that doesn’t result in a widespread outbreak is generally considered endemic.

    World Health Organization Director-General Tedros Adhanom Ghebreyesus speaks during a press conference following an emergency talks over the new SARS-like virus spreading in China and other nations in Geneva on January 22, 2020.
    Pierre Albouy | AFP | Getty Images

    What is endemic

    This steady level of transmission is typically reached when the virus’s reproductive rate is one or less. That means everyone who gets the virus infects roughly one other person. The original Covid strain had a reproductive rate of about two, while people with delta typically infected five or more other people, according to the Centers for Disease Control and Prevention. Omicron is estimated to be more than three times as contagious as delta, according to a study by Japanese researchers.
    The emergence of omicron, with its ability to infect people who are vaccinated and even boosted, has challenged notions of when a sustained endemic phase will come and what it will look like in the context of Covid. Though estimates range, a study by public health authorities in Denmark found that omicron was 2.7 to 3.7 times more transmissible than delta among people fully vaccinated, making it easier for the virus to cause outbreaks even in populations with high immunization rates.
    Omicron has also proven adept at reinfecting people, with a recent study in the U.K. finding that two-thirds of people who caught the variant said they had Covid before. This makes herd immunity even more elusive than originally thought. In the first year of the pandemic, government officials hoped of the global vaccination campaign would help eradicate Covid by reaching herd immunity, where enough people have natural or vaccine-induced protection that the virus doesn’t have new hosts to infect.

    Herd immunity

    “The notion of natural herd immunity without vaccination is a scientific untruth,” according to Ottar Bjornstad, a professor at Pennsylvania State University who researches disease outbreaks. Though breakthrough infections have become common with omicron, the vaccinated shed less of the virus than people who haven’t gotten their shots, he said. Most importantly, the vaccines remain effective at preventing severe disease and death, which is crucial to restoring normal life.
    As the effectiveness of the first-two vaccine doses subsides, booster shots have become critical to taming the pandemic. Pfizer and BioNTech’s booster shot, for example, is up to 75% effective at preventing symptomatic infection, or illness, according to data from the U.K. Health Security Agency.

    Freeport, N.Y.: Close-up shot of a Pfizer COVID-19 vaccine booster shot being administered in person’s arm as the Mount Sinai South Nassau Vaxmobile vists Freeport High School, in Freeport, New York on November 30, 2021.
    Steve Pfost | Newsday | Getty Images

    “If everybody who was eligible for a third dose got a third dose, and eventually we’ll probably need to start giving fourth doses, if we were able to do that we’d be done — pandemic emergency over,” Lawler said.
    The U.S., however, is nowhere close to that level of booster uptake. Only 64% of the U.S. population is fully vaccinated and just 42% of those people have received a third shot, according to the CDC. And tens of millions of Americans still are not vaccinated at all.

    Hope

    There is a hope, however, that between vaccination and mass exposure to omicron, there will be enough immunity in the population that the number of people susceptible to falling ill from the virus rapidly diminishes as the latest wave subsides, according to Dr. Kelly Cawcutt, an infectious disease expert at the University of Nebraska.
    When Covid first emerged in December 2019, people’s immune systems weren’t trained to combat the virus, which is why the pandemic has been so devastating. The elderly in particular weren’t able to mount an adequate defense, leaving them more susceptible to severe disease and death than other age groups.
    As immunity in the broader community increases over time through vaccination and infection, new generations of children will likely become the primary group left that hasn’t been exposed, according to Jennie Lavine, a computational investigational biologist at biotech company Karius.

    CNBC Health & Science

    Though the risk isn’t zero, children are generally less susceptible to severe disease from Covid than adults, according to the CDC. This indicates that the virus will, over time, result in more mild disease perhaps resembling the common cold once children are the main group left without exposure, according to Lavine.
    Separate from the question of immunity, the pandemic could also end if the virus itself simply evolves to become inherently less severe. Omicron generally doesn’t make people as sick as delta, but this doesn’t necessarily mean future variants will be increasingly mild.
    “The whole idea that viruses by definition always evolve to be less pathogenic and less severe — that’s the stuff of fairy tales,” Lawler said.

    Pre-pandemic life

    To a large degree, a return to life that resembles people’s pre-pandemic routines depends on how much risk individuals are willing to tolerate, and how much disease society is willing to accept.
    Fauci has said once the level of immunity in the population is high enough, Covid will look more like the seasonal respiratory viruses such as the flu that the U.S. health-care system is accustomed to managing every year without a nationwide crisis response. He has cautioned that although the U.S. is on the right track to tame the pandemic, new infections, hospitalizations and deaths are still too high.
    The U.S. suffered its worst flu season of the past decade in fall of 2017 through the winter of 2018. During that period, 52,000 people died from the flu and 710,000 were hospitalized, according to the CDC. By comparison, Covid has killed more than 236,000 people and hospitals have reported nearly 1.5 million admissions of people with Covid since last fall, according to a CNBC analysis of data from Johns Hopkins University and the Department of Health and Human Services.

    ‘Synonym for surrender’

    Lawler said in some ways the virus would meet the definition of endemic right now, in the sense that it has been circulating in populations across the world for two years. Whether society chooses to call it endemic or not, however, doesn’t change the reality that it continues exact a huge toll in lives lost, he said.
    “It’s a synonym for surrender is what it is — it’s a convenient way to just give up,” Lawler said about the conversation on the virus becoming endemic. “We’re going to lose more people in this delta and omicron combined wave potentially then we lost during the peak wave last year,” he said.
    In the six weeks since omicron became the dominant variant in the U.S., more than 26 million people have caught the virus, according to Johns Hopkins data. Infections hit an all-time pandemic high of more than 803,000 daily new cases as a seven-day average on Jan. 15. They have since declined about 75% to an average of roughly 207,000 new cases a day as of Thursday, according to the data.
    Hospitalizations are also falling. There were 103,000 patients in U.S. hospitals with Covid as of Monday, according to a seven-day average of data from HHS, down 20% over the past week and 35% from peak levels on Jan. 20.

    A son and daughter embrace their father, a coronavirus disease (COVID-19) patient in the Intensive Care Unit (ICU) ward, before his intubation procedure at the Providence Mission Hospital in Mission Viejo, California, U.S., January 25, 2022.
    Shannon Stapleton | Reuters

    Overwhelmed hospitals

    While new infections remain an important indicator of the pandemic’s trajectory, the key measure of Covid’s ability to disrupt society is whether hospitals are on the verge of snapping under the pressure of new Covid patients, according to Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota.
    “When they break, that’s what everybody says is unacceptable,” Osterholm said. “That’s when you don’t want to have your heart attack, you don’t want to have your stroke.”
    The problem, however, is the pandemic has only compounded the burnout among already understaffed hospitals, leaving the nation with little room to maneuver when infections lead to a surge of patients, according to Osterholm.
    When it comes to vaccination, however, society may be better prepared to manage Covid when it becomes endemic than is the case with the flu. Vaccination against the flu reduces the risk of illness by 40% to 60% depending on how well the shot matches the strain of the virus circulating in a given year, according to the CDC. Pfizer’s Covid booster shot is up to 75% effective at preventing illness. And Pfizer and Moderna are able to adjust their shots quickly because they’re based on messenger RNA technology, which is more nimble than traditional vaccines.

    Omicron shots

    “We make adjustments for variants based on the flu season the last year to try to be as protective as we can this year,” Cawcutt said of how flu shots are regularly updated. “And we know Covid vaccines are far more effective than our historical influenza ones have been.”

    Pfizer CEO Albert Bourla addresses a press conference after a visit to oversee the production of the Pfizer-BioNtech COVID-19 vaccine at the factory of U.S. pharmaceutical company Pfizer in Puurs, Belgium April 23, 2021.
    John Thys | Pool | Reuters

    The CEOs of Pfizer, BioNTech and Moderna have all said they are concerned about waning immunity and the possible emergence of new variants. Pfizer and BioNTech launched a clinical trial of a vaccine that targets omicron last month, and the companies expect to have it ready by March. Moderna has started a clinical trial of a booster shot that specifically targets omicron.
    Pfizer’s and Merck’s antiviral pills that fight Covid have also been promoted as potential game changers, providing treatments people at risk of severe disease can easily take on an outpatient basis, reducing hospitalizations and alleviating the burden on health-care systems.
    Fauci has said the vaccines and booster shots are a bridge that will get the U.S. get to a point where the antiviral pills are deployed on a larger scale to help treat people who get infected so the virus no longer poses a threat to normal life and the economy. The U.S. has ordered 20 million courses of Pfizer’s pill, Paxlovid, with 10 million expected through June. Supplies, however, are currently limited. So far, 265,000 courses of the treatment have been delivered in the U.S.
    Lawler warned that the antiviral pills are not a panacea that will end the pandemic. It would be similar to claiming people do not die of bacterial disease anymore because we have effective antibiotics, he said.

    Normalcy

    “I see people dying every day in the hospital with staph and strep infections even though we’ve had great antibiotics against those for 80 years,” Lawler said.
    And even when society does start to return to some semblance of normalcy, some public health measures probably won’t completely disappear, Cawcutt said. Though states are starting to lift indoor mask mandates, some people will likely choose to wear masks in large gatherings during the peak periods of transmission and have a heightened awareness about social distancing, she said.

    People walk outside wearing masks during the coronavirus disease (COVID-19) pandemic in the Harlem area of the Manhattan borough of New York City, New York, February 10, 2022.
    Carlo Allegri | Reuters

    “Some of those public health measures that have prevented the spread of Covid-19 and also mitigate the spread of other respiratory viruses are going to linger with some durable change,” Cawcutt said.
    Though many people are hoping that omicron heralds the end of the pandemic, Fauci has cast doubt on the idea that omicron will act as Mother Nature’s version of a mass vaccination event, warning a new variant could emerge that evades the immunity provided by omicron.
    “I would be shocked if we don’t get another variant arising out of somewhere that has adequate immune escape and causes another epidemic wave,” Lawler said. “There’s no data that suggests strongly that the virus has exhausted all of its options to mutate and create new infectious variants.”

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    National Football League has been lobbying the SEC on blockchain technology

    Watch Daily: Monday – Friday, 3 PM ET

    Lobbying disclosure reports show the NFL engaged the SEC from July through December for “issues related to blockchain technology.”
    The NFL, run by Commissioner Roger Goodell, is trying to determine whether crypto can be an integral part of the league’s business, insiders say.
    Crypto is set to be heavily advertised during Sunday’s Super Bowl game between the Los Angeles Rams and Cincinnati Bengals.

    NFL commissioner Roger Goodell
    Kirby Lee-USA TODAY Sports | Reuters

    The National Football League lobbied the Securities and Exchange Commission on “issues related to blockchain technology” from July through December last year, according to disclosure reports.
    Records indicate the lobbying campaign represents the first time the NFL has attempted to influence the government agency that oversees financial securities. The league spent over $600,000 on lobbying both chambers of Congress and various government agencies, including the SEC, during the second half of 2021, according to the reports.

    Beyond the SEC, the NFL lobbied the White House Office, the Department of Justice and the Department of Commerce. The NFL targeted those government entities for a wide range of issues, including “federal regulation of sports betting,” according to the filings.
    The forms do not provide further details on the NFL’s lobbying efforts.
    Cryptocurrencies like bitcoin are built on top of something known as the blockchain, which acts as a digital ledger that keeps track of all transactions of a particular token. This global online database is accessible to anyone with an internet connection, and it is maintained by an international network of people who help to verify blocks of transactions.
    The NFL, run by Commissioner Roger Goodell, is trying to determine whether crypto can be an integral part of the league’s business, insiders say. The NFL currently takes in about $10 billion in annual revenue.

    At last year’s NFL owner meetings in New York, officials told CNBC that crypto-related deals are still being examined.

    The NFL partnered with the National Football League Players Association and Dapper Labs to “create exclusive digital video highlight NFTs (non-fungible tokens) for NFL fans,” according to a September announcement. Numerous NFL stars have already become involved with crypto, including retiring quarterback Tom Brady, Green Bay Packers quarterback Aaron Rodgers and star Rams wide receiver Odell Beckham Jr.
    The SEC, which is chaired by Gary Gensler, has been attempting to determine how to regulate various forms of crypto.
    For months, Gensler has promised to deliver a set of formal rules to oversee the crypto market. The SEC chief has said these guidelines would be designed with a view to protect investors, but currently there are no explicit proposals.
    In the absence of formal ground rules, the Gensler has instead weighed in on more of a case-by-case basis, defining what are registered securities and therefore under his jurisdiction. That sometimes includes certain crypto investments and platforms.
    The agency, for example, has repeatedly refused to approve a spot bitcoin-based exchange-traded fund over concerns related to investor protection and the potential for fraudulent trading.
    The NFL and the SEC did not return requests for comment before publication.

    CNBC Politics

    Read more of CNBC’s politics coverage:

    Crypto is set to be heavily advertised during Sunday’s Super Bowl game between the Los Angeles Rams and Cincinnati Bengals. Various cryptocurrency businesses are said to have spent millions to promote their products.
    The NFL lobbyists listed on the disclosure reports are two Capitol Hill veterans.
    Brendon Plack was hired by the league in 2019 to be its senior vice president of public policy and government affairs. Prior to assuming that post, he was chief of staff to the then-Senate Majority Whip John Thune, R-S.D.
    The second league executive, Jonathan Nabavi, was hired in 2017 and is currently another leader of the NFL’s government affairs office, who once worked with Sen. Chuck Grassley, R-Iowa, when the lawmaker was chairman of the Senate Judiciary Committee.
    – CNBC’s Jabari Young contributed to this report. More

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    Celebrities, humor and a huge dose of nostalgia will dominate Sunday's Super Bowl ads

    Familiar names such as GM, PepsiCo and Facebook are betting millions of dollars that nostalgic Super Bowl ads will connect with viewers during Sunday’s big game.
    To reach key age demographics and provide an oasis from Covid concerns and divisive politics, the ads — which cost an average $6.5 million per 30-second spot — harken back to the ’80s and ’90s.
    The use of comedy as well as a host of celebrities is seen as a safe bet for advertisers looking to connect with audiences, according to experts.

    Big brands that have in some cases sat out for years the TV advertising frenzy around the biggest US sporting event — the Super Bowl — are returning Sunday and spending big amid record ad prices. It’s been a bumpy couple years marked by pandemic-era restraint and political polarization, but the American football championship offers an increasingly unequalled viewership too big to pass up.
    Olivier Douliery | AFP | Getty Images

    Companies such as General Motors, PepsiCo and Facebook parent Meta Platforms are betting millions of dollars that nostalgic Super Bowl ads, many featuring 1980s and 1990s celebrities or music, will connect with viewers during Sunday’s big game.
    Arnold Schwarzenegger, Salma Hayek and Mike Myers will pitch new electric vehicles for BMW and GM. Lindsay Lohan, Dennis Rodman and William Shatner want you to work out at Planet Fitness. And others, such as Kevin Hart and Andy Richter, will promote Sam’s Club and avocados from Mexico.

    With the average 30-second Super Bowl ad costing about $6.5 million, advertising executives and experts say such ads are attempting to reach key age demographics — millennials, Gen Xers and even Baby Boomers — while providing a little oasis from Covid-19 pandemic concerns and divisive politics.

    “Nostalgia is a really good way to tap into positive memories that large portions of viewing audience will have,” said Mitchell Olsen, assistant professor of marketing at the University of Notre Dame’s Mendoza College of Business. “It’s an opportunity to attach your brands with some of those positive associations.”
    The ads are riding a wave of reboots from Hollywood studios and streaming services ranging from “The Karate Kid” and “Top Gun” to “Saved by the Bell” and “The Mighty Ducks” — all entertainment titles from the ’80s and ’90s.

    Dust off your cassette tapes

    There’s also the music, which may have some viewers thinking about dusting off their cassette tapes.
    Songs from artists such as Salt-N-Pepa (“Push It”), Bonnie Tyler (“Total Eclipse of the Heart”) and Simple Minds (“Don’t You [Forget About Me]”), among others, are sure to have viewers who pine for the ’80s humming along. Even this year’s halftime show, which stars rap icons Dr. Dre, Snoop Dogg, Mary J. Blige and Eminem, is tracking this vibe.

    “The ’80s and ’90s are having a massive resurgence now,” said GM Chief Marketing Officer Deborah Wahl. “There’s a huge familiarity.”
    GM, for a second consecutive year, rebooted a 1990s film for a Super Bowl ad. Last year the automaker resurrected “Edward Scissorhands,” a movie from 1990, for a Cadillac ad and this time around Mike Myers is reclaiming his role as Dr. Evil in an “Austin Powers”-themed commercial from the spy comedy trilogy, which debuted in 1997.

    Paying millions on nostalgia for bygone times is a gamble, experts say, that may not connect with younger viewers. That’s why, at the same time, advertisers like GM are attempting to drum up hype on TikTok, Instagram and Twitter, among other social media names, before the commercials debut on Sunday.
    “There’s no question that there is a risk that people might not know what you’re talking about, but, at the same time, the younger generation has shown an openness to watch the things that older people watched,” said Jed Meyer, senior vice president at Kantar, a data analytics and brand consulting firm.
    Kantar reported last year’s Super Bowl generated $434.5 million of in-game ad revenue, higher than the World Series and NBA Finals and second only to the Olympic Games, which this year take place over 16 days.

    At $6.5 million for a 30-second spot, up $1 million from 2021, revenue is projected to surpass last year’s total, and advertisers are expected to get more bang for their buck. Super Bowl 56 between the Cincinnati Bengals and the Los Angeles Rams is anticipated to reach a record audience following years of declining viewership.

    Reliving glory days

    Meta and Frito-Lay don’t feature major stars from the ’80s or ’90s in their ads, but the entire premise of both spots is reliving glory days, albeit in different ways.
    Meta’s ad follows the journey of a singing animatronic dog that’s put out to pasture after a Chuck E. Cheese-type restaurant shuts down. He’s seriously down on his luck until someone saves him to be a prop at a store that sells the company’s Quest 2 virtual reality headset. In the VR world, or metaverse, he reunites with his animatronic bandmates at a virtual version of the restaurant.

    The Meta ad — called “Old Friends, New Fun” — is largely silent aside from Simple Minds’ 1985 quintessential new wave pop song, “Don’t You (Forget About Me).”
    Similarly, Frito-Lay’s “Golden Memories” ad features actors Seth Rogan and Paul Rudd talking about their glory days over a bag of Lay’s chips, ahead of Rogan getting married. They comedically reminisce about their first road trip in 1997 to Rogan recently meeting his “bride,” a zombie/ghost in a house he purchased.
    The commercial features Shania Twain’s 1997 hit, “You’re Still the One.”

    ‘People are ready to be happy’

    Whether the Super Bowl ads are nostalgic or not, many of the prereleased ones are meant to be funny.
    “After several years in kind of a Covid, downtrodden mood for everything, people are ready to be happy now,” said Robert Kolt, a Michigan State University advertising professor and Super Bowl ad guru. “People want to feel good.”

    The use of comedy as well as a host of celebrities is seen as a safe bet by advertisers looking to connect with audiences, according to the expert.
    For example, used-vehicle sales site Carvana features a comical oversharing mom; Amazon’s Alexa reads the minds of celebrity couple Scarlett Johansson and Colin Jost; and comedian Kevin Hart acts like he’s a VIP in a Sam’s Club, among others.
    “It’s humor and relatability,” said Ryan Keeton, a co-founder and chief brand officer of Carvana, of its Super Bowl ad.
    There also will be plenty of animals in the Super Bowl mix. They include a robot dog for Kia and animals — led by a bird voiced by Megan Thee Stallion — singing Salt-N-Pepa’s 1987 hit “Push It” after eating Flamin’ Hot Doritos and Cheetos.

    Budweiser, a stalwart of Super Bowl advertising, also will feature the journey of an injured Clydesdale horse to recovery with the assistance of a friendly dog.
    “Whatever makes people feel some kind of emotion, it’s going to be a good ad. And I think that’s one of the reasons why we like the animals so much. Who doesn’t love a dog?” Kolt said. “Humor is just what people need right now and I think advertisers will give it to us this year.”

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