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    U.S. drops Covid testing requirement for international travelers

    Travelers were required to show proof of a negative test a day before flying to the U.S.
    The travel industry had repeatedly urged the administration to drop the testing requirement.
    The change takes effect at 12:01 a.m. ET on Sunday.

    The Biden administration will drop the Covid-19 testing requirement for inbound air travelers from abroad on Sunday, ending one of the longest-running travel restrictions of the pandemic.
    The rule, put in place by the Trump administration in early 2021 and later tightened by the Biden administration, most recently required inbound travelers, including U.S. citizens, to show proof of a negative Covid test a day before boarding U.S.-bound flights. Travelers entering the U.S. at land border crossings were exempt.

    The change takes effect at 12:01 a.m. ET on Sunday.
    Airlines and others in the travel industry had repeatedly pushed the administration to drop the requirement, arguing it was hurting demand for international trips. The travel industry has been one of the hardest hit by the pandemic.
    American Airlines CEO Robert Isom told an industry conference last week that he met with politicians in Washington, D.C., to discuss the testing requirement, a rule he called “nonsensical.”
    “We’re really frustrated,” he said.
    Other countries, including the U.K., had previously abandoned Covid testing entry rules.

    “The Biden administration is to be commended for this action, which will welcome back visitors from around the world and accelerate the recovery of the U.S. travel industry,” Roger Dow, president of the U.S. Travel Association, said in a statement. “International inbound travel is vitally important to businesses and workers across the country who have struggled to regain losses from this valuable sector.”
    For its part, the Travel Technology Association’s vice president of government relations, Mike Liptak, said in a statement that travel and tourism are key to the economic recovery from the pandemic. Nick Calio, CEO of Airlines for America, the lobbying group for the largest U.S. carriers, said the industry looks “forward to continuing to work with the Administration to prioritize the safety and wellbeing of the traveling public and to ensure that air travel policies are guided by science.”
    The Centers for Disease Control and Prevention will reassess the decision in 90 days, according to a senior Biden administration official.
    “If there is a need to reinstate a pre-departure testing requirement — including due to a new, concerning variant — CDC will not hesitate to act,” the official said.
    The travel industry clashed with both the Biden and Trump administrations throughout the pandemic over rules aimed at curbing the spread of Covid-19, including a strict ban on most foreign visitors into the U.S., which was eventually lifted in November. Most noncitizen visitors to the U.S. will still have to show proof of Covid-19 vaccination before flying to the U.S., a White House spokesman said.
    Separately, in April, a Trump-appointed federal judge struck down another contentious rule that aimed to curb the spread of Covid-19: the Biden administration’s federal mandate that travelers wear masks on planes and other forms of public transportation. The Department of Justice has appealed the ruling.
    — CNBC’s Thomas Franck contributed to this article.

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    Jim Cramer says to avoid ‘bogus’ tech companies that should've never gone public

    Monday – Friday, 6:00 – 7:00 PM ET

    CNBC’s Jim Cramer said Friday that several tech firms that went public in recent years are beginning to realize their missteps, and he warned investors to take their dollars elsewhere.
    “The companies out here in San Francisco have only just begun to realize that they overexpanded and, in many cases, some of these companies should never have come public,” the “Mad Money” host said.

    CNBC’s Jim Cramer said Friday that several tech firms that went public in recent years are beginning to realize their missteps, and he warned investors to take their dollars elsewhere.
    “The companies out here in San Francisco have only just begun to realize that they overexpanded and, in many cases, some of these companies should never have come public,” the “Mad Money” host said.

    “Especially for the most bogus companies that were invented in the last three years, I say they should never have come public, but in many cases they shouldn’t even exist. Harsh? Maybe, but I’m trying to help you preserve your capital,” he said.
    Cramer’s comments come after he spent a week in San Francisco interviewing tech leaders. He said Thursday that several told him that there are impending layoffs across Silicon Valley and some companies plan to relocate outside of California.
    Looking to next week, Cramer said he has his eye on the Federal Reserve’s two-day meeting on Tuesday and Wednesday that will reveal the magnitude of the next interest rate hike.
    “If they do act more aggressively, will the market welcome that news, or will we get another sell-off? We’ll have to wait and see,” he said.
    Cramer also previewed next week’s slate of earnings and investor meetings. All earnings and revenue estimates are courtesy of FactSet.

    Monday: Oracle

    Q4 2022 earnings release after the close; conference call at 5 p.m. ET
    Projected EPS: $1.37 
    Projected revenue: $11.61 billion

    Cramer said he expects a tour de force conference call. If the stock goes down afterward, “we know that tech is sunk and the depths are not yet plumbed,” he said.
    Tuesday: Affirm, DuPont
    Affirm

    Cramer said the meeting should shed some light on the state of the buy now, pay later business.
    DuPont

    “If [CEO Ed Breen] says we’re going into a recession, I want to know how long,” Cramer said.
    Thursday: Kroger, Adobe, Honeywell
    Kroger

    Q1 2022 earnings release at TBD time; conference call at 10 a.m. ET
    Projected EPS: $1.29
    Projected revenue; $43.85 billion

    Cramer said that investors shouldn’t bet against the grocery company despite soaring food inflation.
    Adobe

    Q2 2022 earnings release after the close; conference call at 5 p.m. ET
    Projected EPS: $3.31
    Projected revenue: $4.35 billion

    “Adobe is a terrific long-term growth story, so if it gets hit you actually might want to buy some on weakness, but don’t count on it to turn around anytime soon,” he said.
    Honeywell

    Cramer said he doesn’t plan to buy shares of Honeywell for the Charitable Trust, but would consider it if the stock plummets.
    Friday: Centene

    “I want to hear about whether the company is continuing in the tradition of the late [former CEO] Michael Neidorff, the man who created this health-care powerhouse,” Cramer said.
    Disclosure: Cramer’s Charitable Trust owns shares of Honeywell.

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    Cramer's lightning round: Zuora is not a buy

    Monday – Friday, 6:00 – 7:00 PM ET

    It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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    23andMe Holding Co: “At $2, I’m willing to buy the lottery ticket. But make no mistake about it, it is a lottery ticket.”

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    NIO Inc: “I don’t like to buy any of these Chinese stocks. … Let’s move on.”

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    Mirati Therapeutics Inc: “Understand that you can lose all that you put in. But as a pure spec, I think it’s a good one.”

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    Zuora Inc: “Zuora’s losing money. … It does not fit our criteria of what you should own.”

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    Blue Owl Capital Inc: “I’ve got enough problems with major league banks. I do not need to fool around with minor league banks.”

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    Union announces daytime work stoppage at congested Port of Oakland

    A port workers union is shifting a planned work stoppage to daytime hours June 20 at the already-congested Port of Oakland in California, just days before the expiration of the union’s contract.
    According to the CNBC Supply Chain Heat Map, the Port of Oakland is among the worst performing ports for the movement of import containers.
    A port official said the change was made so Black longshoremen could celebrate the Juneteenth holiday, which is June 19, a Sunday, but will be widely observed on June 20.

    In an aerial view, a container ship sits docked at the Port of Oakland on May 20, 2022 in Oakland, California.
    Justin Sullivan | Getty Images

    A crucial port workers union is shifting a planned work stoppage to daytime hours June 20 at the already-congested Port of Oakland in California, just days before the expiration of the union’s contract.
    The Oakland chapter of the International Longshore and Warehouse Union, or ILWU, announced that its work stoppage meeting would be moved from the night shift to the day shift. According to a document obtained by CNBC, the first shift from 8 a.m. to 5 p.m. PT shift would be closed. Operations will resume at the port at 6 p.m.

    A port official told CNBC that the change was made so Black longshoremen could celebrate the Juneteenth holiday, which is June 19, a Sunday, but will be widely observed on June 20.
    The stoppage is bad news for already-snarled supply chains. The day shift is far busier than the evening shift, according to truckers familiar with the port. According to the CNBC Supply Chain Heat Map, the Port of Oakland is the worst performing port for the movement of import containers – a 9.5-day average.
    Port employees were made aware of the change in a Friday morning email.

    Arrows pointing outwards

    Source: CNBC

    The ILWU didn’t immediately respond to CNBC’s request for comment. The contract is set to expire July 1.
    The timing of this meeting change has logistics experts concerned.

    “Given the slowing growth rate of the American economy, interruptions in the flow of exports are never a positive,” said Alan Baer, CEO of shipping company OL USA. “We need all sides of the supply chain functioning as this optimizes the short and long-term outlook for everyone involved.”
    The Port of Oakland has also seen a drop in exports and recently announced a partnership with the USDA to provide financial aid to agricultural exporters.

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    Big landlords jump into the homebuilding business as demand for single-family rentals surges

    The push comes as more Americans have the flexibility to work from anywhere and are looking for larger spaces with outdoor areas.
    According to the National Association of Home Builders, there were 13,000 new single-family homes started as rentals in the first quarter of this year, up 63% from a year ago.
    Homes-built-for-rent still represent just 5% of the home building market, but that’s up from the 2.7% historical average, according to the association.

    Jake and Stephanie Murphy are moving into a new single-family rental home built by American Homes 4 Rent.
    Diana Olick | CNBC Real Estate Correspondent

    As demand for single-family rental homes surges, big landlords are jumping into the homebuilding business to shore up falling supplies.
    The push comes as more Americans have the flexibility to work from anywhere and are looking for larger spaces with outdoor areas.

    “This market is very undersupplied. There are not enough quality homes for the number of American families,” said David Singelyn, CEO of American Homes 4 Rent, which has built more than 100 rental-only communities in the last five years.
    According to the National Association of Home Builders, there were 13,000 new single-family homes started as rentals in the first quarter of this year, up 63% from a year ago. Homes-built-for-rent still represent just 5% of the home building market, but that’s up from the 2.7% historical average, according to the association.
    In Mooresville, North Carolina – about 30 miles north of Charlotte – American Homes 4 Rent’s newest development includes more than 220 rental homes with access to amenities including a pool and fitness centers. Landscaping and maintenance is included in the rent.
    Jake and Stephanie Murphy, who’ve been able to work remotely since the pandemic, are among those who relocated to the community after selling their home in California. They could afford to buy, but opted to rent a four-bedroom home for their family for $2,400 a month.
    “We’re just not sure if the housing prices will really stay where they are currently. So we didn’t want to buy at the peak and then have them go down in a couple of years,” said Stephanie Murphy, who is 29.

    The Murphys also said they liked the flexibility of renting as they learn about a new area.
    The number of rentals is now falling slightly, as some smaller landlords sell their homes at the top of this pricey market. But Singelyn expects to keep building homes for rent over the next few years based on the strengthening demand he said he’s seeing.
    “How many inquiries are we getting? How many showings? How many applications are we getting on every available home? It’s two to three times greater today than it was two years ago before the pandemic,” Singelyn said.
    Other companies investing in the build-for-rent market include Lennar, DR Horton, Taylor Morrison and Toll Brothers. Invitation Homes, the largest publicly traded landlord, last year went into a joint venture with homebuilder Pulte Homes to build more rental homes.
    Investment in single-family rentals – both buying older homes and building new ones – has grown dramatically. The sector saw investments of about $3 billion in 2020, according to John Burns Real Estate Consulting. In 2021, the figure surged to $30 billion. It’s expected to reach $50 billion this year as larger institutional investors, homebuilders, and landlord rush into the market.
    Like most big landlords, American Homes 4 Rent got into the business during the Great Recession when millions of homes went into foreclosure. The company snapped up cheap, distressed properties, often on the auction block, and turned them into lucrative rentals. 
    There were 11.6 million single-family rental households in 2006, at the last housing peak. That figure rose to 15.5 million in 2014 after the housing market crashed, according to John Burns Real Estate Consulting.

    But the growing demand and tightening supply also mean homes-for-rent are getting less affordable. Nationwide, single-family rents are up more than 13% at from a year ago, according to CoreLogic. 
    “A shortage of single-family properties available for rent has plagued the market, pushing rents up at record-level rates,” said Molly Boesel, principal economist at CoreLogic. She noted the the number of single-family rental properties listed early this year was well below pre-pandemic levels.
    Back in Mooresville, North Carolina the Murphys are watching how the market plays out. But Jake Murphy said he doesn’t believe homeownership is part of the American Dream, and is enjoying renting for now.
    “I’m excited because you look around the neighborhood, there’s like Texas license plates and New York, and then we have California,” he said.

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    Job cuts hit cybersecurity industry despite surging growth from ransomware attacks

    Cybersecurity companies are seeing record growth as ransomware attacks increase and businesses bolster spending to protect their data.
    However, the plunge in tech stocks and freezing of the IPO market has forced a number of high-growth companies to cut jobs.
    “We were not optimized as a business,” said Cybereason CEO Lior Div.

    A construction crew assembles a display for the RSA Conference at Moscone Center in San Francisco, Calif.
    Paul Chinn | San Francisco Chronicle via Getty Images

    Nothing has lowered Cybereason’s expectations for growth. Rather, the continuing rise in ransomware attacks has forced its clients to bolster spending on security systems, putting the security software company ahead of schedule when it comes to revenue.
    But Cybereason is cutting costs anyway, confirming last week that it’s laying off 10% of its workforce, or about 100 employees. The reductions follow the dramatic swing in the economy this year and the beating that software stocks have taken on the public market.

    Cybereason’s story resonates with many of the 450-plus vendors in attendance at RSA, the premier conference for companies in security software. The size, scale, complexity and potential damage caused by cyberattacks means that no matter how corporate IT and finance departments are responding to inflation and a potential economic slowdown, budgets are expanding when it comes to protecting data and networks.
    The global cybersecurity market is expected to grow at an annual rate of 9.5% a year, reaching almost $375 billion a year by 2028, according to Vantage Market Research. That’s about double the rate of growth forecast for overall IT spending, at least over the next two years, according to Gartner.
    Still, with the IPO window closed, Cybereason’s plans for its next financing round were thwarted. Private capital could have been an option but likely with painful terms and an almost certain markdown from the company’s $3 billion valuation achieved in a funding round last year. CEO Lior Div opted instead to reduce expenses and preserve cash.

    Lior Div, Cybereason
    Kiyoshi Ota | Bloomberg | Getty Images

    “We were working under the assumption that capital would be available, as much as we need and at the same price,” Div said in an interview this week in San Francisco at the annual RSA Conference, referring to the company’s operating plans last year. “We were not optimized as a business.”
    There’s no demand problem.

    A report in April from security company Sophos said that 66% of organizations surveyed were hit by a ransomware attack in 2021, up from 37% the prior year. The average ransom payment increased almost fivefold to over $800,000, the report said.
    Ransomware attacks occur when a hacker group infiltrates a corporate network and then holds the data hostage, demanding a sum of money from the victim to in return for access to the data.

    War in Ukraine makes matters worse

    The crisis has intensified this year, with cyberattacks from Russia on the rise following the country’s invasion of Ukraine in February. Cybersecurity authorities from the U.S. and four ally countries released an advisory in April, warning of a jump in cyber activity “as a response to the unprecedented economic costs imposed on Russia as well as materiel support provided by the United States and U.S. allies and partners.”
    Cybereason’s technology is designed to recognize when and how malicious attacks are taking place by establishing a constant real-time view of what’s happening inside networks. The company has been particularly effective at helping clients fend off ransomware attacks, thanks to a web of sensors across the world that automatically identify anything suspicious or unfamiliar that hits a network.
    Last year, Cybereason raised $325 million, taking advantage of an insatiable demand for high-growth software names. Div said he’d set out to raise just $200 million, but money was so free and easy that the company went bigger.
    Four months later, the Nasdaq peaked. Since then, the tech-heavy index is down 27%. Cybereason’s closest public market rivals, SentinelOne and CrowdStrike, have dropped 66% and 35%, respectively, over that stretch. Meanwhile, SentinelOne reported revenue growth of 109% in the latest quarter from a year earlier, while CrowdStrike grew 61%.

    Arrows pointing outwards

    Cyber stocks plunge

    Across the board, investors have rotated out of high-growth tech, moving into names and sectors that are generally viewed as safer in an environment of rising inflation and interest rates. The IPO market ground to a halt just as Cybereason was confidentially filing paperwork for an upcoming offering.
    “We said, ‘OK, we planned to go out, and now we have to make sure we’re fiscally responsible and can keep running the business for many years,'” Div said.
    While neither SentinelOne nor CrowdStrike have backed off their prior hiring plans, their slide alongside the broader market has forced pre-IPO companies and those at even earlier stages to reassess their prospects based on the new realities of the capital markets.
    Deep Instinct, a start-up that uses deep learning to try and prevent ransomware, cut 10% of its salespeople this week. That’s despite growth of over 200% last year in annual recurring revenue, a rate of expansion that continued into the first quarter of this year.
    Lane Bess, chairman of Deep Instinct, said the company had to get more efficient with its sales operation.
    “We took a look and said, ‘Where are we being most effective in the enterprise?'” Bess said in an interview at RSA. “Are we doing well in the low end of the market, where we have inside salespeople? No. Do we have channel partners that can get to that low end of the market? Yes.'”
    In late May, cloud security software vendor Lacework said it was cutting 20% of its workforce, just six months after raising $1.3 billion at an $8.3 billion valuation. The company said a “seismic shift” in the markets forced it to make modifications.
    “While we do not have control of the environment around us, we do have a responsibility to control how we operate our business and make changes as needed to best position the company for continued and long-term success,” Lacework said in a blog post.
    Lacework ranked 25th on CNBC’s Disruptor 50 list, which was released in May. Cybereason ranked 41st in its second straight appearance on the list.
    The layoffs and hiring freezes at companies that had been in hyper-growth mode is likely to have a trickle-down effect across the labor market in the industry. While every CEO and recruiter will say that competing for top technical talent, particularly in security, remains as tough as ever, the market turmoil has employers reconsidering how they think about compensation.
    “It’s less competitive out there, because there are fewer start-ups,” said Todd McKinnon, CEO of Okta, a company that provides identity management software for corporations. “We want our pay to be at the top of the market, but not more. If the market goes down, we don’t want to be slow to adjust.”

    Like its publicly-traded peers, Okta has been hammered this year, with its stock falling 58%. But there’s no shortage of business opportunities. Revenue jumped 65% in the first quarter.
    McKinnon isn’t expecting a flood of talent to suddenly hit the market, because “private companies still have a ton of money,” he said. Venture capitalists poured a record $332.8 billion into U.S. start-ups last year, double the amount from a year earlier, according to the National Venture Capital Association.

    ‘Path to profitability’

    High-valued private security companies like Snyk ($8.5 billion), Tanium (over $9 billion) and Illumio ($2.75 billion) told CNBC that they have no plans for layoffs or to even slow down hiring, as they remain well capitalized and are experiencing a boom in business.
    Snyk CEO Peter McKay acknowledged that “the cost of money has gone up massively from what you could raise before in the multiples going forward,” but he said his company is just fine after raising $530 million last year.
    “We don’t have to raise,” said McKay, whose company’s technology helps customers quickly spot vulnerabilities in their code. “We’ve got a path to profitability, and we’ve accelerated our path to profitability.”
    Charles Ross, the chief customer officer at Tanium, said his team is watching to see what clients are doing, but as of now there’s no sign of a slowdown. The company just closed out its biggest first quarter ever in terms of customers and revenue, after increasing headcount last year by 1,000 people, or more than 80%.
    One thing Ross said he’s hearing from customers is that they’re consolidating their security portfolio into a few essential vendors and cutting elsewhere. Tanium’s technology gives IT managers visibility across their network to assess threats and see where protection is lacking. It typically sits alongside software from endpoint security providers like CrowdStrike or SentinelOne, Ross said.
    “They’re running us as better together,” Ross said, in an interview at RSA.
    And at Illumio, whose software helps prevent ransomware and stops breaches from spreading across networks, CEO Andrew Rubin said the topic of downsizing or letting people go “was not on the agenda” at the latest board meeting last month.
    “We have absolutely no conversation happening inside the company about laying anybody off,” said Rubin, whose company raised $225 million last year. He said the company has “years and years and years and years of runway.”
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    Diseases suppressed during Covid are coming back in new and peculiar ways

    As the Covid-19 pandemic and resultant social restrictions have abated in much of the world, other viruses are rearing their heads in new and unusual ways.
    Influenza, Respiratory syncytial virus, adenovirus, tuberculosis and monkeypox are among a number of viruses to have spiked and exhibited strange behaviors in recent months.
    Health experts say Covid-19 restrictions could have reduced exposure and lowered immunity to infectious diseases, making society more vulnerable to new outbreaks.

    Dowell | Moment | Getty Images

    The Covid-19 pandemic has abated in much of the world and, with it, many of the social restrictions implemented to curb its spread, as people have been eager to return to pre-lockdown life.
    But in its place have emerged a series of viruses behaving in new and peculiar ways.

    Take seasonal influenza, more commonly known as the flu. The 2020 and 2021 U.S. winter flu seasons were some of the mildest on record both in terms of deaths and hospitalizations. Yet cases ticked up in February and climbed further into the spring and summer as Covid restrictions were stripped back.
    “We’ve never seen a flu season in the U.S. extend into June,” Dr. Scott Roberts, associate medical director for infection prevention at Yale New Haven Hospital, told CNBC Tuesday.
    “Covid has clearly had a very big impact on that. Now that people have unmasked, places are opening up, we’re seeing viruses behave in very odd ways that they weren’t before,” he said.
    And flu is just the beginning.

    We are seeing very atypical behaviors in a number of ways for a number of viruses.

    Dr Scott Roberts
    associate medical director for infection prevention, Yale New Haven Hospital

    Respiratory syncytial virus, a cold-like virus common during winter months, exhibited an uptick last summer, with cases surging among children in Europe, the U.S and Japan. Then, in January this year, an outbreak of adenovirus 41, usually responsible for gastrointestinal illness, became the apparent cause of a mysterious and severe liver disease among young children.

    Elsewhere, Washington State has been experiencing its worst flare-up of tuberculosis in 20 years.
    And now, a recent outbreak of monkeypox, a rare viral infection typically found in Central and West Africa, is baffling health experts with over 1,000 confirmed and suspected cases emerging in 29 non-endemic countries.

    Viruses behaving badly

    At least two genetically distinct monkeypox variants are now circulating in the U.S., likely stemming from two different spillover infections from animals to humans, the U.S. Centers for Disease Control and Prevention said last week.
    The World Health Organization noted earlier last week that the virus, whose symptoms include fever and skin lesions, may have been going undetected in society for “months or possibly a couple of years.”

    A section of skin tissue, harvested from a lesion on the skin of a monkey, that had been infected with monkeypox virus, is seen at 50X magnification on day four of rash development in 1968. 
    CDC | Reuters

    “The two strains probably indicate this has been going on longer than we first thought. We’re at a concerning time right now,” said Roberts. He noted that the coming weeks will be telling for the course of the virus, which has an incubation period of 5 to 21 days.
    It is not yet clear whether the smallpox-like virus has mutated, though health experts have reported that it is behaving in new and atypical ways. Most notably, it appears to be spreading within the community — most commonly through sex — as opposed to via travel from places where it is typically found. Symptoms are also appearing in new ways.
    “Patients are presenting differently than we were previously taught,” said Roberts, noting that some infected patients are bypassing initial flu-like symptoms and immediately developing rashes and lesions, specifically and unusually on the genitals and anus.
    “There’s a lot of unknowns that do make me uneasy. We are seeing very atypical behaviors in a number of ways for a number of viruses,” he said.

    Restrictions reduce exposure, immunity

    One explanation, of course, is that Covid-induced restrictions and mask-wearing over the past two years have given other infectious diseases little opportunity to spread in the ways they once did.
    Where viruses did manage to slip through, they were frequently missed as public health surveillance centered largely on the pandemic.
    That indeed was the case in Washington’s tuberculosis outbreak, according to local health authorities, who said parallels between the two illnesses allowed TB cases to go undiagnosed.

    During the Covid pandemic, access to primary care, including childhood vaccinations, was unavailable to many children.

    Jennifer Horney
    professor of epidemiology, University of Delaware

    Now, as pandemic-induced restrictions have eased and usual habits resumed, viruses that were in retreat have found a fertile breeding ground in newly social and travel-hungry hosts.
    The recent monkeypox outbreak is thought to have stemmed, at least in part, from two mass events in Europe, a lead adviser to the WHO said last month.
    Meantime, two years of reduced exposure have lowered individual immunity to diseases and made society as a whole more vulnerable. That is especially true for young children — typically germ amplifiers — who missed opportunities to gain antibodies against common viruses, either through their mother’s womb or early years socializing.

    Missed childhood vaccinations

    That could explain the uptick in curious severe acute hepatitis cases among children, according to health experts who are looking into possible links to Covid restrictions.
    “We are also exploring whether increased susceptibility due to reduced exposure during the Covid-19 pandemic could be playing a role,” the U.K. Health Security Agency said in April.

    Morsa Images | Digitalvision | Getty Images

    The Centers for Disease Control and Prevention has also expressed concern that lockdowns may have caused many children to miss childhood vaccinations, potentially raising the risks of other vaccine-preventable illnesses such as measles and pertussis.
    “During the Covid pandemic, access to primary care, including childhood vaccinations, was unavailable to many children,” Jennifer Horney, professor of epidemiology at the University of Delaware, told CNBC.
    “To prevent increases in these diseases, catch-up vaccination campaigns are needed globally,” she added.

    Beware surveillance bias

    That said, there is also now greater awareness and surveillance of public health issues in the wake of the pandemic, making diagnoses of some outbreaks more commonplace.
    “Covid has raised the profile of public health matters so that we are perhaps paying more attention to these events when they occur,” said Horney, adding that public health systems set up to identify Covid have also helped diagnose other diseases.
    Professor Eyal Leshem, infectious disease specialist at Sheba Medical Center, agreed: “The general population and the media have become much more interested in zoonotic outbreaks and infectious diseases.”

    It’s not that the disease is more prevalent, but that it gets more attention.

    Professor Eyal Leshem
    infectious disease specialist, Sheba Medical Center

    However, he also warned of the role of “surveillance bias,” whereby individuals and medical professionals are more likely to report cases of diseases as they grow more high profile. That suggests that some viruses, such as monkeypox, may appear to be growing when in fact they were previously underreported.
    “It’s not that the disease is more prevalent, but that it gets more attention,” Leshem said.
    Still, the increased monitoring of infectious disease outbreaks is no bad thing, he noted. With the increased spread and mutation of infectious diseases — as seen with Covid-19 — the more awareness and understanding of the changing nature of diseases, the better.
    “The public and media attention will help governments and global organizations direct more resources into surveillance and protection of future pandemics,” Leshem said, highlighting research, surveillance and intervention as three key areas of focus.
    “These investments have to occur globally to prevent and mitigate the next pandemic,” he said.

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    China struggles to stamp out Covid as Beijing, Shanghai reimpose some restrictions

    Shanghai, which emerged from a two-month lockdown early this month, said Thursday that seven of its 16 districts would conduct mass testing, according to state media. Those areas included financial and downtown districts.
    Since Thursday, at least three districts in Beijing have ordered bars and some other entertainment venues to close until further notice.

    People wait in line for nucleic acid tests to detect COVID-19 at a testing site on June 9, 2022, in Beijing, China. China says it has generally controlled recent outbreaks in Beijing after hundreds of people tested positive for the virus in recent weeks.
    Kevin Frayer | Getty Images News | Getty Images

    BEIJING — China’s two largest cities are tightening some Covid measures again, just days after loosening them as the virus appeared under control.
    Shanghai, which emerged from a two-month lockdown early this month, said Thursday that seven of its 16 districts would conduct mass testing this weekend, according to state media. Those areas included financial and downtown districts.

    During the testing period, residents in affected areas will need to stay home until the testing is over, the city said in the comments section of an official release.
    It was not clear to what extent other restrictions on business would be applied during the testing. Implementation of Covid restrictions can also vary by apartment neighborhood. Factories can generally remain in operation if their workers live on-site or otherwise operate in a bubble.
    Minhang, one of the seven districts and located near the outskirts of Shanghai, told residents Thursday to stay home during virus testing on Saturday.
    Since Thursday, at least three districts in Beijing have ordered bars and some other entertainment venues to close until further notice. After the city reported one new confirmed Covid case for Wednesday, a handful of subsequent cases were tied to bars and nightclubs.
    Beijing allowed restaurants on Monday to resume serving customers inside stores, after only permitting takeout or delivery for about a month. The latest outbreak in the capital city began in late April.

    Read more about China from CNBC Pro

    Mainland China reported 30 new confirmed Covid cases for Thursday, including 15 in Inner Mongolia, where a small city locked down last week after a few new Covid cases.
    Universal Beijing Resort said earlier this week it planned to reopen on June 15 after closing temporarily in early May.
    Shanghai Disneyland and Disneytown have been closed since late March. Some Shanghai Disney Resort retail and park areas reopened Friday.
    Disclosure: NBCUniversal is the parent company of Universal Studios and CNBC.

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