Economy and Analysis Coronavirus Causing States to Backtrack on Reopening

Coronavirus Causing States to Backtrack on Reopening

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Even while claims of reducing coronavirus cases are being made, the truth is far different for many states. More new cases than ever are occurring now, and several days in a row have had more cases than even the worst days at any time previously. The states that are being hit the hardest are Florida, Arizona, and Texas. Some states that did not previously have the requirement are now requiring all residents to wear masks when in public.

A few states are now taking measures to help control the virus that they refused to take earlier – even when advised to do so. Florida is closing several beaches and other states have closed all bars and some restaurants.

China Renews Partial Lockdown in Beijing

After new cases of coronavirus were detected in parts of China, including in Beijing and a city about 90 miles from there, new lockdowns have occurred. Altogether, there are about 500,000 people once again in total lockdown in the country.

Several States Reverse or Are Pausing Reopening

Some of the states that seemed like they wanted to be among the first to reopen for business and travel are now reversing their course to halt the rapid spread of coronavirus in their states. Texas, Florida, and California have closed bars once again and some other businesses. Many states – at least 12 – have also paused their reopening phases

Gilead Prices Remdesivir above $2,300

Gilead Sciences Inc. is the first company to develop a drug that can actually help COVID-19 patients. It was approved early by the FDA for emergency use. The company has already delivered more than 500,000 vials to the U.S. Department of Health and Human Services (HHS) for distribution. It has announced that it will make the drug available to wealthier countries at a price tag of $2,340 per vial. It will be made much less expensive to poorer countries from two generic drug manufacturers in India.

China Arrests Some Protestors

As many as 53 protestors were arrested on Sunday in Hong Kong. The protests were against the national security legislation that China has announced will be enforced in the city. Although the protest started peacefully, scuffles between protestors and police soon broke out. Those arrested were charged with unlawful assembly.

Ford Offers New Deal for Potential Buyers

Because of car sales bottoming out due to coronavirus, the Ford Motor Company has announced a new program to help encourage buyers to commit to the bottom line. Although they have seen a lot of people come in that want to buy – they also have seen many that are afraid to commit to buying because of financial instability. This has led to the creation of the “Ford Promise” program. The program was announced on Monday and it lets customers return their cars in the first year if there is a job loss. The program is available for cars made in 2019, 2020, and 2021.

Boeing Runs Successful Flight Test on 737 Max

Boeing is back in the news after a large drop in stock price that helped cause the stock market to drop last week. After grounding all 737 Maxs since March 2019 because of two fatal crashes, the FAA on Monday allowed Boeing to have its first recertification flight of the 737 Max – which was successful. If each flight passes the tests and demonstrates that the problems have been corrected, there will be a total of three tests before it is allowed to fly again. After the successful flight, Boeing stock jumped 14.4%.

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