Raphael Stevens

Vaccines are working against Covid-19, including the highly contagious delta variant — but the challenge is in getting enough people inoculated, according to a professor of preventive medicine at the Vanderbilt University School of Medicine.”Leaving it in the refrigerator doesn’t help, that won’t prevent disease. You have got to move that vaccine into arms,” William Schaffner said on CNBC’s “Squawk Box Asia” on Monday.Data collated by online scientific publication, Our World In Data, showed around 22.6% of the world’s population have received at least one dose of a Covid-19 vaccine — but most of them are in high-income, wealthy countries in North America and Western Europe.Less than 1% of people in low-income countries have received at least one dose.Covid booster shotsIt remains unclear if those vaccinated against Covid-19 would require booster shots down the line.A group of Centers for Disease Control and Prevention scientists recently said there isn’t enough data at the moment to support recommending booster shots to the general population but that more vulnerable groups, such as elderly people or transplant recipients, may need an extra dose.Odilest Guerrier, Medical Assistant, administers a Moderna COVID-19 vaccine to Pasqual Cruz at a clinic set up by Healthcare Network on May 20, 2021 in Immokalee, Florida.Joe Raedle | Getty ImagesSchaffner said the need for booster shots would depend on two things.”The duration of protection of our current vaccines, still to be determined but so far so good, and the other is, whether new variants develop that can evade the protection of our current vaccines,” he said, adding that such variants have yet to appear. “We just have to get (Covid vaccines) more accepted in the population.”The coronavirus has mutated many times since the pandemic started last year.One variant that experts say pose a major threat to eliminating Covid-19 is delta — a virulent strain that was first detected in India and has since swept across the globe to over 90 countries. Delta is becoming the dominant variant of the disease globally and has been declared a “variant of concern” by the World Health Organization.Vaccine hesitancyMany countries are facing vaccine hesitancy, in part due to misinformation being spread about the shots.Even in the United States, where more than 50% of the population has received at least one dose of vaccine, inoculation efforts in some states have hit a wall as the delta variant spreads rapidly across the country. It could grow into a potential issue in parts of the U.S., especially in rural areas, where vaccination uptake remains low, making more people vulnerable to the delta variant.We are at risk of new variants that can evade the protection of our vaccine the more the virus spreads. Not only here in the United States, but anywhere around the world.William SchaffnerVanderbilt University School of MedicineSchaffner said that while the U.S. is in a “somewhat better position” to tackle the new variant, it is far from ideal. He explained that in some areas, the vaccination level achieved is between mid-20% to mid-30%, whereas the ideal range to stop the delta variant from spreading is around 70% to 80%. Many people who are being hospitalized due to Covid-19 are either unvaccinated or partially vaccinated, according to Schaffner.”The more transmission that occurs, the more new people that are infected, the more opportunities the virus has to multiply. When it multiplies, it mutates. And when it mutates, it has the opportunity to create new variants,” he said.”We are at risk of new variants that can evade the protection of our vaccine the more the virus spreads. Not only here in the United States, but anywhere around the world,” Schaffner added. More

A container ship docked at India’s Adani Port Special Economic Zone (APSEZ) in Mundra, India.Sam Panthaky | AFP | Getty ImagesIndia’s second wave of coronavirus outbreak will affect the country’s infrastructure firms to varying degrees, according to Moody’s Investors Service.Power companies and ports are expected to better withstand the impact of pandemic-led disruptions compared with airports and toll road operators, the ratings agency said in a recent report.The South Asian country suffered a devastating second wave when reported coronavirus cases jumped sharply between February and early May. It left hospitals overwhelmed and medical necessities like oxygen and medicines in short supply.While the central government resisted imposing another nationwide lockdown like last year’s, state authorities stepped up localized restrictions to stem the spread of the virus — that included regional lockdowns.”The lockdowns, along with public behavioral changes, are curbing economic activity and mobility, which will have a varied impact on infrastructure companies,” Abhishek Tyagi, vice president and senior credit officer at Moody’s, said in a statement.India’s regional lockdowns led to lower electricity demand as well as lower traffic volumes for transportation companies. But, labor availability has not been significantly affected so far.Here is what Moody’s had to say about the country’s infrastructure companies:PowerThe business models of rated power companies allow them to manage the current contraction in demand and withstand a moderate extension of the cash conversion cycle, which refers to the number of days it takes for a firm to convert its investments into cash flows from sales. That is because Indian power companies are dependent on state-owned distribution firms that are likely to be under financial stress due to lower demand.In the event that demand stays low for longer and there is a subsequent cash squeeze, Moody’s said the power companies have good access to liquidity and support.Airports and toll road operatorsMoody’s expects that the recovery of Indian airports, some of which are undergoing debt-funded expansion plans, will be pushed back further due to the second wave and subsequent regional lockdowns. International travel is set to take even longer to recover due to border closures.Though domestic and international traffic is set to rise between October this year and March 2022 — the second half of India’s current fiscal year — Moody’s said that the disruption caused by the second wave will “likely lead to lower traffic and revenue in fiscal 2022, and potentially fiscal 2023, relative to our earlier forecasts.”The ratings agency downgraded Delhi International Airport this month to a B1 rating — seen as speculative and a high credit risk — stating that the airport will likely need additional debt to complete its expansion because of lower operating cash flow.An increase in India’s Covid vaccination rates could be a major driver for a recovery for airports, according to Moody’s.Prolonged restrictions on movements or renewed lockdowns will continue to have an adverse impact on toll road operators and put pressure on their credit quality, the ratings agency said.PortsIndia’s rated ports performed well in the last fiscal year despite the economic contraction due to the pandemic and were able to improve their market shares, according to Moody’s.Port operators have remained mostly unaffected by the regional lockdowns because “the movement of goods across the country has remained normal and both ports also have sufficient buffer in their financial profiles to absorb any temporary disruptions,” Moody’s said.Path to economic recoveryDaily reported Covid-19 cases in India have been on a downward trend since reaching a peak in early May. As the situation gradually improves, many states are easing restrictions to reopen the economy, but experts have warned against an inevitable third wave of infections.Moody’s pointed out that with vaccination rates still relatively low, it leaves open the risk of subsequent infection waves that could push states to introduce further lockdowns.”The government’s ability to limit the virus spread and materially increase its vaccination drive will have a direct impact on the economic recovery,” the ratings agency said. More

A group of Black Friday online shopping purchases photographed in delivery boxes filled with polystyrene packing pellets, taken on September 13, 2019.Neil Godwin| Future Publishing | Getty ImagesSingapore wants to become a leading e-commerce hub in Asia — but there may be challenges ahead.As the pandemic reshapes consumer behavior worldwide, more and more people in the region are shopping online and Southeast Asia’s digital economy saw significant growth.”E-commerce in Southeast Asia — it’s surging. But what sets Singapore apart (is) its policies and its initiatives that help cultivate an environment for the digital industry and the digital economy to thrive,” said Ben King, country director at Google Singapore.Still, the city-state faces a skills shortage for digital talent — and that’s critical for its ambition to become a global e-commerce player, he told CNBC’s Christine Tan.The problem that we’re seeing is not necessarily jobs — it’s skills. There’s an urgent need to help the workforce build digital skills to take on these jobs.Ben Kingcountry director at Google SingaporeTo address the issue, the government partnered with Google under the Skills Ignition SG initiative, to provide jobs training for those looking for a digital career.”The one challenge we see in realizing this vision of Singapore really becoming a much more meaningful and much more advanced regional e-commerce hub is talent development,” said King. “The problem that we’re seeing is not necessarily jobs — it’s skills. There’s an urgent need to help the workforce build digital skills to take on these jobs.”The U.S. tech giant has also been focused on helping to reskill people who have been impacted by the pandemic.”What we’ve really designed that program to do is to meet the needs of Covid in real time. It’s really geared towards taking people who have found themselves out of work, providing opportunities for them to train over a six- or a nine-month window,” King said.”What we’re trying to do is develop skills that we think are going to be pivotal to the development and the evolution of e-commerce across the region.”Shifts in consumers trends Despite the pandemic headwinds, internet usage across Southeast Asia continued to surge.Some 40 million new users in the region joined the internet last year, according to an e-commerce report on Southeast Asia by Google, Temasek and global consultancy Bain & Company.  The pandemic has brought about a “permanent and massive digital adoption spurt,” the report said.About 36% — or more than 1 in 3 digital service consumers — were new to online services. Among them, 90% intend to continue using these services even after the pandemic, the report said.Young woman taking perfume from cosmetology gift box. She is sitting on floor near laptop at homeYakobchukOlena | iStock | Getty ImagesIn order for Singapore to capitalize on these trends, several factors need to come together to fuel that growth, said Selena Ling, chief economist at OCBC Bank in Singapore.”You need to have a fairly internet savvy population, high mobile penetration (and) good internet connectivity which is affordable,” she said. Plenty of offerings in terms of both goods and services are also essential, she added.The three key pillars of the smart nation (are) really to have a digital economy, a digital government — but also a digital society.Selena Lingchief economist, OCBC BankAs part of Singapore’s e-commerce strategy, the government plans to launch two 5G networks across the city-state by 2025. 5G networks are the next generation of mobile internet connectivity that promise faster speeds.They will “form the backbone” of Singapore’s digital economy and boost the infrastructure’s capacity to manage large online sales orders internationally, according to the Ministry of Trade and Industry.The Singapore government has taken the lead by putting in place a “smart nation” strategy, OCBC’s Ling pointed out.   “The three key pillars of the smart nation (are) really to have a digital economy, a digital government — but also a digital society. So, it does cover all the requirements to have a successful e-commerce strategy,” she explained.  More

Search and Rescue personnel work after the partial collapse of the 12-story Champlain Towers South condo building on June 24, 2021 in Surfside, Florida.Joe Raedle | Getty Images News | Getty ImagesNine people are confirmed dead and 152 are unaccounted for as search and rescue operations continued Sunday evening almost four full days after a 12-story condominium building collapsed in Florida, Miami-Dade Mayor Daniella Levine Cava said at a press conference.”We continue to sweep the mound with our canines, using all of the technology available to us and machinery to lift the debris,” Levine Cava told reporters.Champlain Towers South partially collapsed suddenly early Thursday morning in Surfside, Florida, just north of Miami Beach. The families of the missing were allowed to privately visit the site for the first time Sunday, according to the Miami-Dade mayor.”We ask you to continue to pray for all of the families during this impossibly difficult time as they’re waiting for news and to continue to pray for our first responders who continue to toil to find loved ones,” Levine Cava said.Search and rescue teams created a 125-feet-long trench at the rescue site on Saturday which allowed authorities to recover additional bodies and human remains, Levine Cava said at press conference Sunday morning.Miami-Dade police on Saturday night identified four of the deceased as Stacie Dawn Fang, 54; Antonio Lozano, 83; Gladys Lozano, 79; and Manuel LaFont, 54. Levine Cava said Sunday evening that another four victims have now been identified.”We can now report that we have identified an additional four of the victims,” the Miami-Dade mayor said. “We are working to notify those next of kin first.”Search and Rescue personnel pull a body out of the rubble after the partial collapse of the Champlain Towers South in Surfside, north of Miami Beach, on June 24, 2021.CHANDAN KHANNA | AFP | Getty ImagesLevine Cava and Surfside Mayor Charles Burkett told press on Sunday morning that searchers contained fire in the rescue site on Saturday and are continuing rescue operations. Teams from Mexico and Israel are aiding rescue efforts, according to Levine Cava and Burkett.”We don’t have a resource problem. We’ve had a luck problem. We just need to start to get a little more lucky right now,” Burkett said on ABC News’ “This Week” on Sunday morning.Florida Gov. Ron DeSantis said at the press conference Sunday that debris will be moved from the rescue site to a separate location for forensic analysis.Authorities are still investigating the cause of Thursday’s collapse. An engineer in a 2018 report warned of “major structural damage” in the condo building that collapsed. The report identified issues with waterproofing below the pool deck and “abundant cracking” in the underground parking garage.Levine Cava on Saturday ordered a 30-day audit of all residential properties, five stories or higher, that are 40 years or older and fall under the county’s jurisdiction. The mayor encouraged cities to do their own building reviews as well.Surfside has authorized a voluntary evacuation of residents of Champlain Towers North, the sister property of the collapsed building built. The town’s building inspector did not find any immediate causes of concern in the sister property, Levine Cava told NBC News’ “Meet the Press” on Sunday morning. More

In this articleCMCSAStill from Universal’s “F9.”UniversalUniversal’s “F9” is paving the way for 2021’s summer box office.Over its opening weekend, the Fast and Furious film tallied $70 million in box office receipts, the most of any movie released in the wake of the coronavirus pandemic.The previous record holder was Paramount’s “A Quiet Place Part II” which opened in May with just under $50 million in ticket sales. Other top openers were “Godzilla vs. Kong,” which tallied $32.2 million during its first weekend in April, and “Cruella,” which took in $37.4 million when it was first released in May.With an additional $37.9 million in ticket sales internationally, “F9″ has now garnered more than $405 million since its debut outside the U.S. and Canada in May.”F9’s opening weekend performance shows that Universal’s decision early on in the pandemic to move the film well into 2021 was the absolute best move,” said Paul Dergarabedian, senior media analyst at Comscore.The release of “F9” coincides with a country-wide loosening of Covid-related restrictions and an increase in the number of theaters are open to the public. As of this weekend, 80% of North American theaters were open, according to data from Comscore.As vaccination rates continue to rise and the number of coronavirus cases decline consumer confidence in returning to movie theaters has spiked. These audiences are also being exposed to fresh movie marketing on the big screen, which could entice them to return for future releases — particularly movies such as “F9,” which is only available in theaters and not being released on streaming until a later date.In the next few weeks, Hollywood is releasing blockbuster features like “Black Widow,” “Jungle Cruise,” “Space Jam: A New Legacy” and “Snake Eyes.”Then later in the summer and into the fall audiences will experience: “Dune,” “Free Guy,” “Eternals,” “The Green Knight,” “The Suicide Squad,” “Venom: Let there be Carnage,” “Spider-Man: No Way Home” and “No Time To Die.””‘F9’ is the first true summer blockbuster released in over two years and all eyes were on this performance to provide a glimpse into the future of the movie theater,” Dergarabedian said. “And that future now looks very bright and bodes well for the big films now in the pipeline set for release in the coming weeks and months.”Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is the distributor of “F9.” More

Kevin Durant #7 of the Brooklyn Nets takes a shot to tie the game and force overtime as P.J. Tucker #17 of the Milwaukee Bucks defends in the final seconds of regulation during game seven of the Eastern Conference second round at Barclays Center on June 19, 2021 in the Brooklyn borough of New York City.Elsa | Getty ImagesNational Basketball Association executive Byron Spruell has some work to complete before the league’s next media rights deal. The NBA wants a rights increase, and developing new concepts that attract viewership could assist.The league’s push for a mid-season tournament is one option, but it needs to gain momentum throughout its ownership group. The players union will have a say, and the other constituencies (team executives, sponsors) will chime in, too. And then there’s basketball historians and traditionalists that will make a fuss.It’s here that NBA commissioner Adam Silver is entrusting Spruell to help create the blueprint for the mid-season tournament. But early signs suggest he needs more incentives to make it work.What’s in it for the viewer?The NBA’s concept for a mid-season tournament derives from its observations of international soccer leagues. European basketball clubs also incorporate tournament-style games, and one NBA team executive noted the massive fan support those games get.The concept would include group games — essentially enhanced versions of regular-season contests — and teams that perform well would be invited to the mid-season tournament. The NBA is testing the idea in the WNBA for its 25th anniversary and called it the “Commissioner’s Cup in-season competition.”WNBA players will divide a $500,000 prize pool. The winning team gets $30,000 per player, runner-up $10,000 per player and the MVP of the Commissioner’s Cup title game takes home $5,000. Google is a major sponsor of the WNBA tournament. And Amazon is the media partner that will stream the games on its Prime video service.The NBA wanted the concept for its 75th anniversary, but the pandemic changed things. So this year, league executives will study the fanfare of the WNBA’s format.”It’s a visionary idea,” said long-time media executive John Kosner of the tournament. “I think we’ll see more of that.”The NBA will use money as the main incentive for team staff and players. League officials hope this reward-based business model will drive players to compete. And adding compensation for player charities, especially social justice organizations, could help get their approval.  The thing is, what’s in it for the viewers? What will make people watch a mid-season tournament, especially with the National Football League in progress? And how would the NBA keep fans engaged?Deputy Commissioner of the NBA, Mark Tatum holds up the card of the Detroit Pistons after they get the 1st overall pick in the NBA Draft during the 2021 NBA Draft Lottery on June 22, 2021 at the NBA Entertainment Studios in Secaucus, New Jersey.Steve Freeman | National Basketball Association | Getty ImagesAdding a draft pickKosner, who led digital media at ESPN until 2017, noted consumers have more options outside sports. Covid-19 disrupted sports consumption, and viewers have identified other entertainment options. For leagues outside of the NFL, innovation around its product is a necessity. Even if it means disrupting the tradition.”You have to convince people that there’s a reason to watch,” Kosner said. “You have to make your product as good as you can because you’re no longer competing with another sports choice — it’s everything else that people can view and can do.”In a fall-winter sports cycle, the NBA’s 82-game season has become a bit stale. It has moments, like the Christmas Day games, and Thursday nights are entertaining with Turner Sports’ production. But players resting is still an issue, and that impacts the national contests.Its top superstar, LeBron James, moving out west didn’t help matters, either.This season, the league’s viewership averaged 1.3 million viewers throughout its national games on ESPN, ABC, and TNT. Covd-19 impacted that, but pre-pandemic numbers: for the 2018-19 season, the NBA saw an average of 1.79 million viewers. And the year before James left the East (2017-18), the average was 1.89 million.Viewership metrics are somewhat tricky to comprehend, and the NBA’s product is strong for the 2020-21 postseason, including solid play-in viewership featuring James and the Los Angeles Lakers.But to expand engagement and increase interest around a mid-season tournament, some in league circles floated the idea of adding a draft pick to the stakes.The NBA could place the pick between the No. 14 and 15 slots, protect the lottery teams, and add an asset for teams that win the tournament. The league can call it the “commissioner’s cup pick” or some other title sponsor to pay for the naming rights.The pick rewards the team that stays competitive during the regular season’s early stages. It creates an asset for team owners that executives can leverage in possible trade scenarios. And finally, that creates engagement, as social media channels are filled with NBA fans examining ways to improve teams via trades and draft picks.Byron Spruell, President of League Operations speaks at the 2017 NBA Finals Cares Legacy Project in Cleveland, Ohio.David Dow | National Basketball Association | Getty ImagesThe NBA tossed around the idea, but so far, it didn’t get enough support. There are concerns about possible backlash and of empowering good teams with star players. If teams like the Lakers and the loaded Brooklyn Nets, that many expect would win any tournament. But with a knockout-style match, similar to the NCAA March Madness games, even the power teams could have a bad night.Another team executive favored adding the draft pick. The individual  called the concept, The NBA Commissioner’s Cup tournament, where every contest is a Game 7.A peek at the viewers for recent postseason Game 7s: The Nets vs. Milwaukee’s Bucks averaged 6.9 million viewers. And the underdog Atlanta Hawks took out the power team – Philadelphia 76ers. That Game 7 that attracted 6.2 million viewers. Postseason elimination games are fun, and attracts sports fans.The elimination style could help in the regular season too, said Kosner. He agreed with the incorporating the draft pick, adding the tournament  “creates another event the [sports] betting entities would get excited about. So I think it’s a good idea and hope that they’ll do it.””It’s more quality programming,” said former CBS Sports president Neal Pilson said. “I can’t imagine the viewer would object or not watch. The idea of the mid-season tournament has an appeal in terms of creating more exciting and competitive games that might otherwise not exist during the regular season.”NBA betting on patience Pilson, now a professor at Columbia University’s sports management program, cautioned about player injuries, though.Tournament games could raise intensity levels, and force players to play through nagging injuries they could otherwise sit out. After all, the NBA’s postseason is the most important stretch of the year. If key players are injured during a high-pressure tournament game, championships could be at risk.But with the right incentives, the league believes even the best players would be willing to help teammates earn more money.Draft compensation could return to the bargaining table as the NBA continues designing the blueprint. Again, the plan is to examine how the concept works with other properties, including elements in the Basketball Africa League.Configuring home and away games will also be a challenge, and determining which part of the calendar to install the tournament is critical, too. There’s talk of inviting European clubs. And placing knock games in one location – more than likely, Las Vegas. Should Spruell and Silver develop the tournament’s logistics, and owners and players approve, league officials are betting patience will allow it to grow on fans.The NBA renewed interest around the All-Star game. The play-in race is a fun concept. Now its exploring with its 82-game campaign to make that more exciting, too.”If they created a mid-season tournament, with something at stake, you’ll get people to watch,” Kosner said. More