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Concerns grow over COVID-19 variants, case growth in Minnesota as spring break nears

There’s stronger evidence that viral variants are driving COVID-19 case increases in Minnesota, health officials said Friday.

Given the trend, they stressed the need for caution with spring break plans and implementing new federal guidance over safe distancing in schools.

After plateauing in February, cases have begun to increase over the past two weeks with Friday marking a second consecutive day of about 1,500 newly reported infections.

At the same time, health officials suspect a more contagious form of the virus is driving the growth of infections in the southwest metro, the Mankato area and in St. Louis County, said Kris Ehresmann, the state’s director for infectious disease, during a call with reporters on Friday.

“We are seeing concerning increases in a number of areas in Minnesota and suspect that the variant B.1.1.7 is driving the increase,” Ehresmann said. The variant was identified last year in the United Kingdom.

The Centers for Disease Control and Prevention announced Friday that students wearing masks can safely sit 3 feet apart in the classroom, closer than the previous 6-foot standard that’s been challenging for schools to implement.

Minnesota is reviewing the guidance but already requires that students maintain a distance of 3 feet in middle and high schools, which is consistent with the CDC’s announcement, state Health Commissioner Jan Malcolm said. However, Minnesota recommends that schools maintain distances of 6 feet as much as possible, she said.

“As we continue to see variants spread and definite hot spots in Minnesota with case growth back on the rise, physical distancing along with consistent, universal masking is so important,” Malcolm said. “We need to keep in mind we are seeing these variants spreading rapidly, particularly among sporting networks and schools.”

The state Department of Health on Friday reported 1,449 new coronavirus cases and nine more deaths linked to COVID-19.

The seven-day rolling average for net case increases is now about 1,098 per day, according to the Star Tribune’s coronavirus tracker. That’s still down considerably from November, when the state averaged at one point more than 7,000 cases per day. Yet the comparable figure two weeks ago was about 742 cases per day, the lowest reading since September.

The state has used genomic sequencing to document more than 300 cases of the B.1.1.7 variant, up from more than 250 cases just a few days ago. Also on Friday, health officials said they have found 73 cases of two variants that were first found in California and were added this week to the CDC’s list of variants of concern.

There also are signs that Minnesotans are becoming less compliant with health recommendations, Ehresmann said, citing data that suggests the share of state residents consistently wearing masks has slipped. Families will want to gather in the coming weeks for the Easter, Passover and Ramadan holidays, she noted, but the pandemic means that any gatherings “still need to look different.”

Risk goes up when gathering with those outside your home, Ehresmann said, so people should check guidance on masks and keeping apart at both indoor and outdoor events. Health officials “strongly discourage” any unnecessary interstate or international travel, but say people who take a trip should quarantine upon return.

The latest pandemic numbers underscore the need for caution, Ehresmann said, because the increases resemble what Minnesota saw before the case surge last fall.

One big difference is the growing number of Minnesotans who have been vaccinated against COVID-19. The latest Health Department figures show a total of 2,082,088 vaccine doses administered.

The statewide tally for people who have received at least one vaccine dose increased by 34,682, according to data released Friday, for a total of 1,337,982 people so far. That’s about 24% of the state’s population, according to Star Tribune estimates.

The numbers are “great,” Ehresmann said, “but we don’t yet have enough Minnesotans vaccinated to have broad community-level protection. … We are in a race between the variants and the vaccine and the decisions we all make in the next few weeks will have a lot to say about the outcome of this race.”

Statewide, recent case increases have come with small increases in COVID-19 patients requiring hospitalization. Yet the number of pandemic patients who require care is down significantly since late November, said Dr. Mark Sannes, an infectious disease specialist at HealthPartners. Across eight hospitals, the Bloomington-based health system has been seeing 20 to 30 patients at a time with COVID-19 in recent weeks, compared with about 230 at its peak.

“The folks that are hospitalized are less likely to land in the intensive care unit and less likely to land on the ventilator than at any time during the pandemic,” Sannes said.

One factor seems to be that many Minnesotans at risk of the worst outcomes with COVID-19 have been getting vaccine. State data show that 77.5% of residents 65 and older have received at least one dose, Ehresmann said Friday, yet the share could be even higher. That’s because the tally doesn’t include doses administered by the Department of Veterans Affairs, she said, or Minnesota snowbirds who might have gotten shots while residing in out-of-state homes this winter.

The new variants are troubling because they are more contagious, and there’s some evidence that some of them may be more virulent as well, said Dr. Marilyn Peitso, president of the Minnesota Medical Association.

“We are at a very critical juncture with the variants showing up in Minnesota, with good evidence that they really are behind some of the clusters that we are seeing,” Peitso said. “It’s definitely a time to be hopeful, but we cannot take our eyes off the ball.”

Christopher Snowbeck • 612-673-4744

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GE Nears Deal With AerCap to Create Behemoth Aircraft Lessor

(Bloomberg) — General Electric Co. is nearing an agreement to combine its jet-leasing business with Ireland’s AerCap Holdings NV, said people familiar with the matter, in a potential deal that would join the world’s two biggest aircraft financiers in a market roiled by the coronavirus pandemic.

A transaction may be announced as soon as Monday, said one of the people, who both asked not to be named discussing the matter. The deal is expected to have a value of more than $30 billion, said the Wall Street Journal, which reported the talks earlier Sunday. Between them, GE Capital Aviation Services, or Gecas, and AerCap have almost 3,000 aircraft owned, managed or on order.

A combination would speed GE Chief Executive Officer Larry Culp’s push to streamline the U.S. industrial icon after an epic corporate meltdown. While terms of the potential agreement with AerCap are unclear, a sale of Gecas could garner GE about $25 billion, Bloomberg Intelligence said in a report in 2019. Last year, GE completed the sale of its bio-pharmaceutical business to Culp’s former employer, Danaher Corp., for $21.4 billion.

“The old world where you needed a leasing a company to support your manufacturing is gone,” Bloomberg Intelligence analyst George Ferguson said in an interview. “For AerCap, this could be something that’s too good to refuse.”

GE declined to comment, and AerCap representatives couldn’t immediately be reached for comment outside regular business hours on Sunday.

Aviation Pain

AerCap, based in Dublin and listed on the New York Stock Exchange, has a market value of $6.6 billion. The shares advanced 11% this year through March 5 after a 26% drop last year. GE has jumped 26% this year following a 3.2% decline in 2020.

The pandemic has hammered the aviation industry and pushed airlines around the world to cancel new jetliner orders, push back delivery dates and defer lease payments. But a combination would be likely to receive scrutiny from antitrust authorities, other regulators and business partners, given the weight of the two companies in global aircraft finance.

For GE, a tie-up would extend a shift away from the company’s longtime business model of using its powerful leasing platform to generate sales of commercial aircraft powered by the company’s jet engines. GE’s finance arm has been significantly pared back since it nearly crippled the company during the 2008 financial crisis.

Culp has been shedding assets in recent years as part of his broader turnaround effort at GE after a collapse that wiped out a total of more than $200 billion in market value during 2017 and 2018. Under his leadership, the Gecas portfolio has been left in something akin to “caretaker status,” Ferguson said.

Asset Sales

In 2019, GE agreed to sell an aircraft-financing business for $3.6 billion to Apollo Global Management and Athene Holding Ltd. as the ailing manufacturer slimmed down its once-vast lending arm. The same year, Culp sped up a plan to sell off GE’s stake in oilfield-services provider Baker Hughes in a push to refocus GE’s once-sprawling industrial businesses.

The asset sales have raised critical cash that GE has used to repay its bloated debt load, one of Culp’s top priorities in his turnaround drive. The company has cut some $30 billion in debt since 2019, including $16 billion last year. GE had total borrowings of about $75 billion at the end of 2020.

A deal with Gecas would likely elevate the profile of Aengus “Gus” Kelly, AerCap’s hard-charging CEO. He emerged on the global stage in 2014 with AerCap’s $7.6 billion acquisition of leasing pioneer ILFC from American International Group. By pooling assets, the new entity may be able to access the capital markets more cheaply than Gecas could acting under GE’s corporate umbrella, Ferguson said.

Gecas had about $35.9 billion in assets at the end of last year, with about 1,650 aircraft owned, serviced or on order. AerCap, with assets of $42 billion, owned 939 aircraft and managed 105, according to a regulatory filing. It also had 286 planes on order, including jet models such as the Airbus SE A320neo and Boeing Co. 737 Max.

Gecas CEO Greg Conlon said at the Airline Economics conference in January that the company was looking at mergers and acquisitions and portfolio purchases, and that he saw opportunities in cargo aircraft and engine leasing. Kelly spoke at the same conference and said fewer airline customers were seeking deferrals.

(Adds additional detail starting in third paragraph.)

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©2021 Bloomberg L.P.

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GE Nears Deal to Combine Aircraft-Leasing Unit With AerCap

General Electric Co. is nearing a $30 billion-plus deal to combine its aircraft-leasing business with Ireland’s

AerCap

AER 1.62%

Holdings NV, according to people familiar with the matter, the latest in a string of moves by the industrial conglomerate to restructure its once-sprawling operations.

Though details of how the deal would be structured couldn’t be learned, it is expected to have a valuation of more than $30 billion, some of the people said. An announcement is expected Monday, assuming the talks don’t fall apart.

The

GE

GE 0.29%

unit, known as GE Capital Aviation Services, or Gecas, is the biggest remaining piece of GE Capital, a once-sprawling lending operation that rivaled the biggest U.S. banks but nearly sank the company during the 2008 financial crisis. GE already took a major step back from the lending business in 2015 when it said it would exit the bulk of GE Capital, and a deal for Gecas would represent another big move in that direction.

It would also represent another significant move by GE Chief Executive Larry Culp to right the course of a company that has been battered in recent years by souring prospects for some of its top business lines and a structure that has fallen out of favor with investors.

With more than 1,600 aircraft owned or on order, Gecas is one of the world’s biggest jet-leasing companies, alongside AerCap and Los Angeles-based Air Lease Corp. It leases passenger aircraft made by Boeing Co. and

Airbus SE

as well as regional jets and cargo planes to customers ranging from flagship airlines to startups. Gecas had $35.86 billion in assets as of Dec. 31.

AerCap has a market value of $6.5 billion and an enterprise value—adjusted for debt and cash—of about $34 billion, according to S&P Capital IQ, and around 1,400 owned or ordered aircraft. The company has experience in deal making, paying around $7.6 billion in 2014 to buy International Lease Finance Corp. AerCap’s revenue last year was about $4.4 billion, down from around $5 billion in the previous few years.

The aviation business has been hit hard by the Covid-19 pandemic, which has resulted in a sharp drop in global travel and prompted airlines to ground planes. Some airlines have sought to defer lease payments or purchases of new aircraft. Gecas had an operating loss of $786 million on revenue of $3.95 billion in 2020. GE took a roughly $500 million write-down on the value of its aircraft portfolio in the fourth quarter.

Combining the companies could afford cost-cutting opportunities and help the new entity weather the downturn.

Separating Gecas could help GE with its efforts to shore up its balance sheet and improve cash flows. Despite a recent increase, GE’s share price remains below where it was before significant problems in the company’s power and finance units emerged in recent years.

The Boston company has a market value of around $119 billion after the shares more than doubled in the past six months as it posted improving results. Still, the stock has fallen by about three-quarters from the peak just over 20 years ago.

Mr. Culp became the first CEO from outside of GE in late 2018 after the company was forced to slash its dividend and sell off businesses. The former

Danaher Corp.

boss has sought to simplify GE’s wide-ranging conglomerate structure further, as other industrial giants such as Siemens AG and

Honeywell International Inc.

have done in recent years.

Activist investor Trian Fund Management LP, which has owned a significant position in the company since 2015 and holds a seat on its board, has supported such changes.

Early in his tenure, Mr. Culp said he had no plans to sell Gecas, a move his predecessor

John Flannery

had considered after the unit drew interest from private-equity firms pushing further into the leasing business.

Mr. Culp has sought to even out cash flows and refocus on core areas. Operations he has parted with include the company’s biotech business, which was purchased by Danaher in a $21 billion deal that closed last year. GE also sold its iconic lightbulb business in a much smaller deal last year, and previously said it was unloading its majority stake in oil-field-services firm Baker Hughes Co.

GE has cut overhead costs and jobs in its jet-engine unit while streamlining its power business. The pandemic continues to pressure the jet-engine business, GE’s largest division, however.

The company also makes healthcare machines and power-generating equipment, and the rest of GE Capital extends loans to help customers purchase its machines and contains legacy insurance assets too.

AerCap is based in Ireland and Gecas has headquarters there as well. The aircraft-leasing industry has long had a significant presence in Ireland due to the country’s favorable tax regime and the importance of Guinness Peat Aviation in the development of the sector. (A deal between GE and AerCap would reunite two companies that bought their main assets from GPA.) The industry has gotten more competitive as Chinese companies have gained market share, however, and the combination could help the new group stem that tide.

Shares in aircraft-leasing companies plummeted along with much of the market in the early days of the pandemic as demand from major airlines, who lease planes to avoid the costs of owning them, evaporated. But many of the major lessors’ stocks have recovered lost ground and then some in the months since as lockdowns ease and the outlook for travel improves.

AerCap’s Chief Executive Aengus Kelly said on its fourth-quarter earnings call this month that he expects airlines to shift more toward leasing planes as they rebuild their balance sheets, in what would be a boon to the company and its peers.

“Their appetite for deploying large amounts of scarce capital to aircraft purchases will remain muted for some time,” he said. “The priority will be to repay debt or government subsidies.”

Write to Cara Lombardo at cara.lombardo@wsj.com and Emily Glazer at emily.glazer@wsj.com

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Novavax Nears Covid-19 Vaccine Game Changer—After Years of Failure

In January of last year, employees of Novavax Inc. met at a local Maryland bar to discuss how they might salvage their careers. For decades, the small biotech had tried to develop an approved vaccine, with no success. The company had enough cash to survive only another six months or so and its shares traded under $4, with a market value of $127 million.

Today, Novavax is advancing toward authorization of a Covid-19 vaccine. Scientists believe that, if cleared, it could be one of the more powerful weapons against the pandemic, offering key possible advantages over its competitors. Some early data suggest the Novavax shot may be one of the first shown to stem asymptomatic spread of the coronavirus and also potentially provide longer-lasting protection.

If the vaccine is authorized, Novavax will still face the challenge of making and distributing it in large quantities. The firm sold some manufacturing assets in 2019 when it was desperate for cash.

Investors, who left the 33-year-old company for dead last year, are betting that regulators will authorize Novavax’s vaccine in the next couple of months. They have sent shares on Nasdaq up to $229, up 106% so far this year. Late last month, Novavax released preliminary data indicating its shot was effective at protecting against Covid-19, though less so against a new strain identified in South Africa that appears to be a challenge for other shots, too. Results of the vaccine’s late-stage U.S. trial could be released late next month.

Novavax now has a market value of $15.4 billion, greater than that of companies with billions of dollars of annual sales, including generic drug giant Teva Pharmaceutical Industries Ltd.

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Coronavirus live news: US death toll nears 500,000; England roadmap out of lockdown revealed | World news













22:40

Coronavirus vaccines are being rolled out across Australia in what experts says marks the start of the “final phase of the pandemic”.

Those at the highest risk of infection, including quarantine and health hotel workers, frontline health staff and airport and port workers, were the first to receive it on Monday:













22:02

Updated













21:26

Biden to mark US crossing 500,000 deaths with moment of silence and candle ceremony













20:55













20:36

UK homeless deaths rise by more than a third in a year, study finds

Deaths among homeless people have risen by more than a third in a year, according to an analysis by a social justice group that found that almost 1,000 unhoused people had died across the UK in 2020.

The Museum of Homelessness (MoH), a community-driven organisation which runs the Dying Homeless Project, called for action to prevent a repeat of such “terrible loss of life”. Among cases where a cause of death was confirmed, 36% were related to drug and alcohol use and 15% were suicide.

Jess Tuttle, the organisation’s co-founder, said the findings demonstrated how the pandemic had hit a system “already cut to the bone from 10 years of austerity”. The MoH is now calling for a national confidential inquiry into homeless deaths.

A total of 976 deaths were recorded across the four nations in 2020: 693 in England and Wales, 176 in Scotland, and 107 in Northern Ireland. There were 710 deaths registered in the 2019 study, the group said:













20:03

Air New Zealand, Singapore Airlines and Emirates are among the airlines to trial a “digital travel pass” intended to ease international travel during the pandemic.

The Travel Pass app was developed by the International Air Transport Association and launched last year, allowing travellers to store and present Covid-19 test results and their vaccination status for verification on check-in.

Air NZ’s chief digital officer Jennifer Sepull described it as “a digital health certificate that can be easily and securely shared with airlines”, Stuff.NZ reports.

Air NZ’s three-week trial will start in April, with both aircrew and customers.Vaccinations began in New Zealand on Friday, with high-risk managed isolation, quarantine and border workers the first on the list.

The programme to vaccinate 12,000 workers gets under way in Wellington today and in Christchurch on Wednesday, and is expected to take a year to complete.













19:51

New Zealand confirms one new community case

In more New Zealand news: the Ministry of Health has announced six new cases of Covid-19 in managed isolation, four of which are historical, and one case of community transmission.

The new community case is a household contact of some of the previous cases diagnosed in Auckland this month, the ministry said.

This person, known as Case H, had been previously tested and returned a negative result. They had been isolating at home since last Monday but were transferred to a quarantine facility as a precaution on Friday.

“Due to the steps already taken in identifying, testing and tracing individuals linked to the February cases, as well as Case H isolating at home since Monday and then being in quarantine for the last two days, the public health risk is considered very low,” the ministry said.













19:33

Quarantine-free travel resumes from New Zealand to Australia

Quarantine-free travel from New Zealand to Australia has resumed ahead of a downgraded alert level expected in Auckland today. Australia reopened the one-way travel bubble this morning following a cluster of coronavirus cases in Auckland. The prime minister Jacinda Ardern is expected to downgrade the alert level in the city from level 2 to level 1 this afternoon after the outbreak was contained to officials’ satisfaction.

Auckland spent three days last week in a level 3 lockdown after Covid-19 was detected in a family of three in the community. Extra conditions for arrivals in Australia from New Zealand will be effective until 1 March, with anyone who has been in Auckland in the past fortnight (excluding the airport) required to show proof of having returned a negative Covid test result within 72 hours of departure. These rules will be reviewed by the end of the month.













19:18













18:56

WHO calls on Tanzania to act













18:52

Britain accelerates vaccine rollout













18:48

Dr Fauci says Americans may still be wearing masks in 2022













18:45

England roadmap out of lockdown revealed

Boris Johnson will unveil the government’s eagerly awaited roadmap out of lockdown for England on Monday. Here’s what the prime minister is expected to tell MPs:

  • All pupils in all years can return to the classroom from 8 March.
  • Outdoor after-school sports and activities will be allowed to restart.
  • In a fortnight, socialising in parks and public spaces with one other person will be allowed.
  • On 29 March, restrictions will be eased further to allow larger groups to meet in parks and gardens.
  • Outdoor sport facilities will also reopen, as well as organised adult and children’s sport.

Ministers will assess the success of the vaccine rollout, evidence of vaccine efficacy, new variants and infection rates before proceeding to the next step of easing restrictions. More on that here:

Updated













18:44

US death toll nears 500,000













18:38

Summary



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M&T Bank Nears Deal to Buy People’s United for More Than $7 Billion

M&T Bank Corp. is nearing a deal to buy People’s United Financial Inc. for more than $7 billion, according to people familiar with the matter, in the latest in a string of regional-bank tie-ups.

The companies are discussing an all-stock deal that could be announced as soon as this week, the people said, assuming talks don’t fall apart. Based in Bridgeport, Conn.,based People’s United has a market value of roughly $6.6 billion, while Buffalo, N.Y.-based M&T’s is more than $19 billion.

Combined, the banks would have more than $200 billion in assets, with a network of branches concentrated in the Northeast and mid-Atlantic regions. The deal would facilitate M&T’s expansion into the Boston market and strengthen its position in New York and Connecticut.

For M&T, a serial acquirer, it would be its first major takeover since its acquisition of Hudson City Bancorp Inc. in 2015. That deal was delayed for three years after regulators found “significant weaknesses” in M&T’s anti-money-laundering and consumer-compliance programs.

M&T is among the largest regional lenders in the Northeast, with $142.6 billion in assets at the end of 2020. Commercial real-estate loans comprise almost 40% of its portfolio, including some to New York City’s battered hospitality sector. But loan performance at the bank, as well as that of many of its regional peers, has been better-than-expected over the past year.

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93 New Deaths, 1,465 New Cases; U.S. Nears 500,000 Deaths – Update – Deadline

UPDATE: After the Los Angeles Department of Public Health confirmed 14 cases of the UK variant of Covid-19,
Public Health has reported 93 new deaths and 1,465 new confirmed cases of Covid-19 in the county.  The lower number of deaths and cases may reflect reporting delays over the weekend.

As numbers trend down, it should still be noted that the U.S. is on the grim milestone of hitting 500,000 deaths.

According to the New York Times, Dr. Anthony S. Fauci is optimistic that vaccination sites around the country will rebound after weather-related shipping delays of the vaccine. Fauci noted that two million of the delayed doses had already been shipped.

“We can play pretty good catch-up,” said Fauci, President Biden’s chief medical adviser for Covid-19 on Meet the Press. “When you just, you know, put the foot to the accelerator and really push, we’ll get it up to where we need to be by the middle of the week.”

Moviegoers’ Confidence To Return To Cinemas During Covid Hits Record Level – NRG Poll


PREVIOUS:
The Los Angeles Department of Public Health has confirmed two additional cases of the UK variant of COVID-19, totaling 14 total cases in LA County.

The new variant, classified as B.1.1.7, is known to be more contagious than the Wuhan strain of COVID-19. Director of Public Health Barbara Ferrer urges even more caution with the potential rise of cases due to the newly introduced coronavirus variant. “With the U.K. variant circulating in the County, we will likely see more variant cases identified in the County. We must remain diligent with our safety measures even though we see overall decreases in cases, hospitalizations and deaths. Let’s keep our guard up because we know letting our guard down will lead to more cases and, tragically, more deaths again,” said Ferrer.

The Department of Public Health has also confirmed 136 deaths and 2,393 new cases of coronavirus in L.A. County. To date, the department has tallied 1,179,063 cases across all areas of LA county with 19,793 deaths.

There are currently 2,498 hospitalizations in L.A. County, a 30% decline from the 3,426 hospitalized the week before. Of all current hospitalizations, 30% are in the ICU.

Today’s positivity rate marked 3.8%, a drop of 1.5% from the last week’s rate of 5.3%.

Residents under 50 years old constitute 64% of the new coronavirus cases reported today, with residents between the ages of 18 to 49 years old driving most of these cases. Residents 65 and older represent 71% of the reported deaths even though they make up just 15% of the new cases.



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Tesla Billionaire Elon Musk Made A Stark Bitcoin And Ethereum Price Warning As Crypto Market Nears $2 Trillion

Telsa billionaire Elon Musk, whose tweets about the meme-based cryptocurrency dogecoin helped push it to a $10 billion valuation, has warned the price of bitcoin and ethereum “seem high.”

The bitcoin price has surged by almost 500% over the last 12 months, partly due to Musk’s pro-bitcoin and cryptocurrency tweets and his electric car company Tesla adding bitcoin to its balance sheet—following in the footsteps of U.S. software company MicroStrategy

MSTR
.

MORE FROM FORBESExclusive: YouTube Stars Jake Paul And Ben Phillips ‘Discussed’ Creating A Cryptocurrency As Bitcoin And Dogecoin Mania Spreads

The bitcoin price climbed to $57,000 this week, giving it a total value of over $1 trillion, while ethereum, the second-largest cryptocurrency, broke $2,000 per ether token for the first time—giving it a total value of $226 billion.

Musk made the bitcoin and ethereum price warning during a discussion on Twitter about the nature of money. Replying to gold investor and bitcoin skeptic Peter Schiff, Musk said: “Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency and error. The system will evolve to that which minimizes both. That said, bitcoin and ethereum do seem high.”

Earlier this week, Musk sought to distance himself from Tesla’s $1.5 billion bitcoin-buy, which pushed the price of bitcoin sharply higher when it was revealed.

“Tesla’s action is not directly reflective of my opinion,” Musk said via Twitter in response to a Bloomberg interview with the chief executive of bitcoin and cryptocurrency exchange Binance.

“Having some bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P 500 company … When fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The key word is ‘almost.'”

Bitcoin’s mega 2021 rally has seen its price almost double since the beginning of the year thanks to a combination of Wall Street institutional adoption, corporate interest, and retail traders piling into the market.

“There are a number of reasons why bitcoin is soaring, but what stands out most is the trend that MicroStrategy started and Tesla popularised: moving institutional balance sheets into bitcoin to hedge against inflation,” Nicholas Pelecanos, head of trading at blockchain network NEM, said in emailed comments.

MORE FROM FORBES‘Doge Is Underestimated’-Elon Musk’s ‘Fav’ Bitcoin Rival Dogecoin Is Getting A Surprise Upgrade

Ethereum, meanwhile, has benefitted from the rise of decentralized finance (DeFi)—using cryptocurrency technology to recreate traditional financial instruments such as interest, known as “yield,” and insurance. Many of the biggest DeFi projects are built on top of ethereum’s blockchain, pushing the ethereum price higher as users flood the network.

“We’ve reached an inflection point where people are questioning traditional monetary systems and recognising that there are better, fairer options,” Jai Bifulco, chief commercial officer at blockchain-based precious metals exchange Kinesis, said in emailed comments.

The broad bitcoin and cryptocurrency market, made up of thousands of digital tokens, is now worth a staggering $1.7 trillion—up from $800 billion at the beginning of January.



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Coronavirus live news: Biden to reinstate Covid travel ban as world nears 100m cases | World news













19:36

More now from New Zealand.

Over three dozen guests at the Pullman hotel in central Auckland, where the infected woman was undergoing government-managed isolation, are being held longer in their rooms while the source of the newly confirmed local infection is investigated. Nearly all 200 hotel staff have been tested

Although health authorities suspect the virus was contacted directly – meaning person to person contact – they have not ruled out airborne or surface contact.

Hundreds of people have been lining up all day for tests in Whangarei, Northland and Auckland. Test results for these people will be known tomorrow. The director-general also said many people who had no symptoms or contact with the infected woman have been lining up for tests – and he asked them to go home so close contacts could be prioritised.

The Covid-19 response minister said news was circulating on social media of an impending lockdown. He said this was “fake news” and “not true at all”.













19:30













19:16

Community case confirmed in New Zealand

A community case of Covid-19 has been confirmed in New Zealand, with genome sequencing identifying it as of the South African variant of the virus.

Investigators think the 56-year-old woman contracted the infection from a fellow guest at the Pullman hotel, where she was undergoing government-managed isolation.













19:02

World nears 100m cases













18:40

Israel ‘closes skies’ to air travel to prevent virus spread













18:37

Biden to reinstate travel ban and add South Africa

Updated













18:34

Summary



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Coronavirus live news: US nears 25m cases as three infections linked to Australian Open confirmed as UK strain | World news













21:17

In December, the UK reported a Covid-19 variant of concern, commonly referred to as the B117 variant, which appeared to be more transmissible. Since then, scientists have established that B117 is somewhere between 50% to 70% more transmissible than other variants. If more people are getting sick, there is more pressure on health systems, and in the UK health services are so overloaded a country-wide lockdown has been enforced.

While many scientists say B117 does not appear more deadly, researchers on the UK government’s New and Emerging Respiratory Virus Threats Advisory Group found it may increase the death rate by 30% to 40%, though their sample size was small and they said more research is needed. With B117 now detected in more than 50 countries, understanding the variant is urgent.

But other variants of concern have also been identified, including in California, South Africa and Brazil.

So exactly what is a variant, and how many are there? And why are some variants of more concern than others?

Answers at the link below:













20:56

And what a year it has been. In just over a month’s time, I will have been liveblogging international developments in the coronavirus pandemic for eight hours a day, every day on the global blog – which has been running non-stop around the world almost uninterrupted for more than a year.

This time last year, I was living in Beirut, having just returned from reporting on the bushfires in Australia.

Where were you at the end of January 2020? Let me know on Twitter @helenrsullivan.

Updated













20:53

Monday marks one year since first cases in Australian state of New South Wales













20:50

Summary













20:38

Possible community case in New Zealand

An update on New Zealand now, where a possible community case of Covid is being reported in the northernmost province of Northland.

The “probable” case is in the community, a ministry of health spokesperson said, rather than a managed isolation facility.

The director-general of health Dr Ashley Bloomfield, and the minister of covid-19 response, Chris Hipkins, will hold a media stand-up at 4pm to share the latest information.

The last case of covid-19 in the community was recorded in Auckland on November 18 and contained within a matter of days after central Auckland was shut down.

Overall less than 2000 people contracted coronavirus in 2020, and 26 people died. New Zealand is pursuing an elimination strategy towards the disease.













20:27













20:07

Mainland China reports 80 new cases vs 107 a day earlier













19:58

No new local cases in Australian state of Victoria

Updated













19:56

UK to quarantine arrivals from high-risk countries – reports













19:54

Three infections linked to Australian Open confirmed as UK strain













19:48

A possible outbreak of Covid-19 is being reported in New Zealand, in the northernmost province of Northland.

The probable case has emerged in the community, but is NOT a probable case of community transmission, according to the New Zealand Department of Health.

The outbreak – if confirmed – is said to be related to a person recently released from a managed isolation facility, the New Zealand Herald reports.

The director-general of health Dr Ashley Bloomfield, and the minister of covid-19 response, Chris Hipkins, will hold a media stand-up at 4pm to share the latest information.

Updated













19:46

Australian state of New South Wales confirms zero local cases

New South Wales has recorded no new locally acquired cases of Covid-19 on Sunday and three in hotel quarantine. It brings the number of new cases listed in Australia today to four, all in hotel quarantine, after Victoria reported one new case in Melbourne’s quarantine hotels. Queensland has recorded no new cases on Sunday.

Health officials in NSW have urged people to get a Covid-19 test if they have any cold or flu symptoms, however mild, after just 11,344 tests were conducted in the 24-hours to 8pm last night – well below the daily target of 30,000 tests.




Arriving passengers at Sydney’s Kingsford Smith International airport are sent onto buses for mandatory 14 day quarantine on January 22, 2021 in Sydney, Australia. Photograph: James D Morgan/Getty Images

Authorities say they have also detected fragments of the virus in sewage tests at the Warriewood and North Head treatment plants,. The former covers about 70,000 people in the Northern Beaches area, and the latter has a catchment of 1.3 million people from a large chunk of Sydney extending north of the Parramatta River from Western Sydney to Manley.

NSW Health said the detection “likely reflects known recent confirmed cases in those areas,” but urged anyone living in those areas to get tested if they had any symptoms.













19:43

Updated



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