New global coronavirus cases rose for the ninth consecutive week, by a record 5.7 million, as a 52% surge in India outweighed declines in most regions, the World Health Organization said. Companies around the world are stepping in to help ease the crisis, as India’s death toll surpassed 200,000.
Deutsche Bank AG is considering one of the most flexible return-to-office policies among large international banks. Moves to restart travel in Europe are gathering pace, as Britain followed France with plans for a digital vaccine passport.
Countries including Poland are making plans to ease restrictions to boost their economies. Meanwhile, Vietnam’s deputy prime minister warned of a “very high” threat of a new outbreak after the nation reported its first domestic case in a month.
Key Developments
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N.Y. Lawmakers to Repeal Cuomo Covid Rules (11:30 a.m. NY)
New York’s legislature plans to repeal several of Governor Andrew Cuomo’s coronavirus-related executive orders, nearly two months after stripping him of pandemic-era emergency powers.
The Senate and Assembly on Wednesday will reverse a Cuomo directive that required customers to order food with alcohol in bars and restaurants, according to a Senate Majority news release.
Mauritius Donates Oxygen Devices to India (11:30 a.m. NY)
The Indian Ocean Island nation of Mauritius has donated 200 oxygen concentrators to India to help its medical staff treat patients suffering from the coronavirus, Prime Minister Pravind Kumar Jugnauth said on Twitter. Mauritius began its Covid-19 inoculation campaign in January using 100,000 Covishield vaccines it received from India’s government.
Vaccines Cut Hospital Use in Older Adults: CDC (11 a.m. NY)
Covid-19 vaccines from Pfizer-BioNTech and Moderna reduced the risk of being hospitalized for Covid-19 among fully immunized older adults by 94%, and by 64% for those who received only one of the two-shot regimens, according to a new Centers for Disease Control and Prevention report. The study evaluated 417 hospitalized patients who were 65 and older between January and late March, 130 of whom had received at least one dose of a coronavirus vaccine. The results were in line with clinical trial findings, the report’s authors noted.
Cuomo to Allow Seating at NYC Bars (10 a.m. NY)
New York City patrons can resume sitting and drinking at bars next week, Governor Andrew Cuomo said. The move aligns the city with regulations in the rest of the state.
The ban on bar seating will be lifted on May 3. Cuomo also is eliminating the midnight food and beverage service curfew for outdoor dining on May 17 and the one for indoor dining beginning May 31.
Cuomo has been easing restrictions as Covid-19 cases and hospitalizations drop.
Tokyo Olympic Athletes to Be Tested Daily (9:24 a.m. NY)
Athletes at the Tokyo Olympic Games this summer will be required to take daily coronavirus tests, a stricter requirement than previously announced.
All participants are also required to take two virus tests before flying to Japan, according to a joint statement on the updated playbook released following a five-party meeting, including Tokyo 2020 and the International Olympic Committee.
U.K. Deploys Thousands of Ravers in Test (8:43 a.m. NY)
Thousands of people at a mass nightclub rave in the U.K. this week will be a key test of whether live events halted during the pandemic can reopen at full capacity as planned from the end of June. The two-day event in Liverpool, northwest England, is part of a national research program that so far appears to show people are happy to be tested to secure entry to large-scale events.
WATCH: Thousands of people at a mass nightclub rave in Liverpool will be a key test of whether live events can reopen at full capacity.
Source: Quicktake)
Separately, Switzerland is considering permitting large public events to be held again from July. The government unveiled a program that will shoulder some of the costs -- up to 5 million francs ($5.5 million) -- if an event gets cancelled due to the pandemic.
Pandemic Fuels Big Government Appetite (8:30 a.m. NY)
An OECD report on Wednesday showed the economic disruption from the Covid-19 pandemic combined with heightened concerns about health and finances is fueling demands for greater government spending in most of the world’s richest countries.
That’s despite an awareness it could mean more taxation.
More Government Wanted
Respondents experiencing job loss during the pandemic are more likely to call for government action on pocketbook issues
Source: Organization for Economic Cooperation and Development
Note: Percent of respondents reporting that they would like government to spend “more” or “much more” on each policy area, or much more on each policy area, given the taxes they might have to pay. By reported experience of job loss in the household since the start of the pandemic, unweighted cross-country average, 2020
Thai Tycoons Step In to Speed Up Vaccination (7:36 a.m. NY)
Thailand’s top business groups offered to join the government in a mass vaccination rollout from June as the Southeast Asian nation grapples with its worst outbreak since the pandemic began.
Prime Minister Prayuth Chan-Ocha met with representatives of the Thai Chamber of Commerce, the Thai Bankers Association and the Tourism Council of Thailand on Wednesday and identified specific roles for the private sector in the rollout that aims to cover 70% of the nation’s population by the end of this year.
Blackstone, Amazon Join Race to Help India (7:29 a.m. NY)
Companies ranging from India’s biggest conglomerate to global giants like Amazon.com Inc. are stepping in to help ease the country’s Covid crisis.
Reliance Industries Ltd., the Tata group, global drug giants like Gilead Sciences Inc. and technology titans such as Alphabet Inc. are all rushing in supplies and funds. Blackstone Group Inc. Chairman Stephen Schwarzman said his private equity firm is committing $5 million to support India’s relief and vaccination services to “marginalized communities.”
Puma Benefits From Covid-Fueled Golf Boom (5:51 p.m. HK)
Golf is enjoying a coronavirus-fueled comeback, rewarding Puma SE for sticking with the club-and-ball sport while rivals didn’t.
“People have been limited to certain activities,” Chief Executive Officer Bjorn Gulden said on a call with reporters as the company reported earnings. “When golf has been open again, there have been more rounds played, and that means that more and more people are playing again.”
Merkel Calls for More Cooperation With China (5:50 p.m. HK)
Chancellor Angela Merkel urged Germany and China to join forces to defeat the pandemic and raised the prospect of deeper cooperation on vaccines.
In her opening remarks during virtual talks Wednesday with her Chinese counterpart Li Keqiang, Merkel said the two nations should “speak openly and transparently about vaccine production.”
Poland, Iceland Poised to Ease Rules (5:46 p.m. HK)
Poland plans to open hotels, restaurants and shopping malls next month, Prime Minister Mateusz Morawiecki said. Students will return to schools from May 29.
Iceland’s government expects to lift all domestic Covid-19 restrictions in late June, when 75% of the nation will have received at least one dose of vaccine. The easing of measures will happen in four steps. The plan will rely on the government’s vaccination rollout going according to plan, and the country’s chief epidemiologist’s evaluation of the state of the pandemic at each stage.
One Vaccine Shot Halves Transmission Rate (5:25 p.m. HK)
People who contract Covid-19 after just one vaccine dose are much less likely to pass it on, according to new research by Public Health England, a U.K. government agency.
Those who were infected three weeks after a first dose of a Pfizer/BioNTech or AstraZeneca vaccine were 38% to 49% less likely to pass on the virus to a household member than those who weren’t vaccinated. The study used real-world data from 24,000 households where there was a lab-confirmed case involving a vaccinated person.
U.K. Follows France in Vaccine Passports (4:38 p.m. HK)
Britain is working on a digital Covid-19 vaccine passport as the move to restart travel in Europe gathers pace.
The U.K. initiative, disclosed Wednesday by Transport Secretary Grant Shapps, is based on an existing National Health Service app, which will be adapted to help travelers prove they’ve had a jab or tested negative for the virus. The announcement comes a day after France started to trial short flights with a tracing app updated to host records of shots and tests, on short flights.
Deutsche Bank Plans for Flexible Working (3:56 p.m. HK)
Deutsche Bank AG is working on plans to allow staff to work from home up to three days a week, as it considers one of the most flexible return-to-office policies among large international banks.
The Frankfurt-based lender is “moving to provide our employees some additional flexibility in hybrid working models,” Chief Financial Officer James von Moltke said in an interview on Bloomberg Television Wednesday.
Sanofi Bets Late Vaccines Can Still Play Role (3:08 p.m. HK)
Sanofi says the U.S.’s BARDA has asked it to keep working on its vaccines.
Source: Bloomberg
French drugmaker Sanofi, a laggard in developing Covid-19 vaccines, defended its ongoing efforts by saying the shots could still have a role to play as the pandemic evolves.
Acknowledging the two products under development are “quite behind,” Chief Financial Officer Jean-Baptiste de Chatillon told journalists that “with the evolution of the pandemic, they could find a place.”
Malaysia to Make AstraZeneca Shots Optional (2:35 p.m. HK)
Malaysia will allow people to use AstraZeneca’s vaccine on a voluntary basis and exclude the shots from its inoculation program amid public concern about safety. The country, which received its first batch of the shots through the global Covax facility late last week, will allow those ages 18 and above to take the vaccine on a “first come, first served” basis.
Spain Eyes June Tourism Return (2:20 p.m. HK)
Spain’s secretary of state for tourism said the country aims to reopen to overseas holidaymakers from June, the Guardian reported, with plans to use a digital health certificate scheme to show if visitors have been vaccinated, tested negative or recovered from Covid.
Russians Reject Shots; Kremlin Fears 3rd Wave (2:30 p.m. HK)
Unofficial government statistics in Russia show the third wave has begun, according to two officials with knowledge of the situation, as persuading locals to take one of three domestic vaccines is proving a harder task amid ingrained public skepticism toward officials.
Sputnik V: Proven Vaccine, Political Ploy, or Both?
Source: Quicktake
Japan Eyes Moderna, Mulls Vaccine Passports (2 p.m. HK)
The Japanese government is planning to use Moderna’s vaccine to inoculate the public at planned large-scale vaccination sites in Tokyo and Osaka, assuming the vaccine gets regulatory approval, NHK reported.
The site in Tokyo, which will be located in the financial district of Otemachi, is set to open on May 24, the government announced Tuesday. Separately, Kyodo reported that a Health Ministry panel will make a decision on approving the Moderna vaccine as early as May 20.
In addition, the country’s vaccine czar, Taro Kono, said he saw a need for issuing a vaccine passport for overseas travel. Tokyo reported 925 cases on Wednesday, the highest since late January.
India Surge Drives Global Case Record (1:30 p.m. HK)
New global cases rose for the ninth consecutive week by a record 5.7 million, the World Health Organization said in its weekly update. A 52% surge in India outweighed declines in most regions. Among the countries with the most cases, diagnoses dropped 15% in the U.S., 12% in Brazil and 9% in both Turkey and France.
Deaths from Covid-19 gained for the sixth week to a record 87,000. India’s death toll surpassed 200,000 on Wednesday.
Sri Lanka Has Record Cases (10:45 a.m. HK)
Sri Lanka on Tuesday recorded nearly 1,100 new cases in a single day for the first time since the pandemic began.
The country this week tightened curbs, closed schools and stepped up isolating areas. The government will restart its vaccination program Wednesday by giving front-line workers in the health sector and the military their second AstraZeneca shot, even as export curbs from neighboring India have left the country with inadequate supplies to cover all those requiring their second dose.
— With assistance by Gearoid Reidy, Dong Lyu, Muneeza Naqvi, Randy Thanthong-Knight, Jason Scott, Philip Heijmans, Thomas Mulier, Todd Gillespie, Ragnhildur Sigurdardottir, Catherine Bosley, Stacie Sherman, Emma Court, and Kamlesh Bhuckory
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