NYCs Covid surge overtakes Broadway shows, museums trying to stay open

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New York Citys museums, concerts and Broadway theaters are desperately trying to keep their doors open amid a surge in Covid-19 cases, but the onslaught is overwhelming a tourism industry that had just started to regain its footing.

NYCs Covid surge overtakes Broadway shows, museums trying to stay open

Last week, the city decided to limit the number of revelers at the New Year’s Eve ball drop in Times Square to 15,000, a fraction of the million people who packed in for the celebration in years past.

MSG Entertainment, which vowed to keep its shows and events going at Madison Square Garden, had to scuttle a four-day Phish run and some Cirque du Soleil shows due to breakthrough cases among its production. The Metropolitan Museum of Art re-instituted the half-capacity restrictions it was once mandated to impose, capping daily attendance to 10,000 from the 20,000 visitors it had seen on good days.

“There is no doubt that the performing arts industry has been hit by this surge,” said Bennett Rink, executive director of Alvin Ailey Dance Foundation, whose dance company canceled the last five shows of its season due to Covid cases within the company. “The current round of shutdowns has been difficult as we all have been working hard to return to the stage.”

Broadway, which had just celebrated its reopening in September after going dark for 18 months, has been among the hardest hit. In the week ending Dec. 19, when widespread cancellations began, attendance dropped by 23% from the prior week and the money shows brought in fell by 26% during what’s typically its most profitable period, according to the Broadway League’s latest data.

More than a dozen productions including “Hamilton” and “Moulin Rouge” canceled shows. “Waitress” ended its run two weeks early and “Jagged Little Pill” shuttered for good.

“It is daunting to see,” said Keenan Scott II, who wrote “Thoughts of a Colored Man,” which opened in October after delaying its Broadway debut in 2020.

Scott even filled in for a cast member who tested positive for Covid last week to ensure the performance could continue, but the play ended up cutting short its run due to the surge in virus cases.

“I don’t take lightly that people are still coming to shows during the pandemic,” Scott said. “We’re trying to avoid an industrywide shutdown.”

When Covid first hit New York in March 2020, the city’s tourism industry all but collapsed. Demand for hotel rooms crashed from 2.8 million per month in the first months of 2020 to 1 million per month during the pandemic, according to a report by the city Comptroller. Nearly 250,000 leisure and hospitality jobs were lost, leading to soaring unemployment in the city that even today, remains twice the U.S. average at 9%.

But as vaccinations became widely available, state and local governments lifted restrictions and the U.S. started allowing international visitors, tourism rebounded. Hotel room demand rose to 2.3 million in October. More than 93,000 jobs in the industry came back between January and November, according to the city Comptroller report.

There are still 150,000 fewer industry jobs than before the pandemic, making up more than a third of private jobs in the city that haven’t recovered. In November, a third fewer visitors came to Times Square compared to two years prior, according to the Times Square Alliance.

With the industry just starting to claw its way back to life ahead of the holiday season, omicron hit.

In the last few weeks, the percentage of positive Covid cases jumped from 1% to above 11% as of Dec. 21, according to city data. The hospitalization rate doubled in the last two weeks. Multiday quarantines after positive tests or exposure also means many people can’t go to work or travel.

“How many times is this going to happen?” said Patrick McCann, 31, an actor who also works as a bartender at Broadway theaters. “How are other variants after omicron going to affect us? What are we going to keep doing?”

Not to mention the artists and venues who feel responsible for hosting events that could lead to more Covid cases.

After learning nearly half the tickets bought for a recent LCD Soundsystem concert were by tourists, the Brooklyn rock band said on Dec. 17 it would keep playing even after some concert goers said they got Covid at earlier performances.

Then, two days later, the band changed course. “We were incredibly thankful for everyone who wanted to make it work,” it wrote on Twitter, announcing the cancellation of three remaining shows. “But it will have to wait, again, until we find out what this new wave means to us all.”

Since tourism-related sales taxes made up 21% of the city’s pre-pandemic sales tax base, budget expectations rely, in part, on the return of visitors, the comptroller’s report said. International tourists, in particular, account for half of spending in a given year, said Christopher Heywood, a NYC & Company spokesperson.

“The city is still open for business and people are still here,” said Heywood, who expects 34.6 million visitors this year, down from 66.6 million in 2019.

Indeed, in the last week many tourists continued to delight in the city’s bright Christmas lights, decorated storefronts and holiday shows.

“I had family that were saying, ‘just don’t go, don’t go, cause it’s so bad over there,'” said Meghan Chico, a nursing assistant from Seattle who flew to New York with her boyfriend to celebrate his completion of U.S. army basic training.

His parents paid for the trip, so “I was like, ‘OK I’ll just go and double mask and sanitize every five minutes,'” she said.

The 25-year-olds strolled across the Brooklyn Bridge, roamed around Times Square and saw a Knicks game — but the “Aladdin” show they planned to see got canceled.

Chico was glad they stuck with the trip and said she was encouraged by venues checking vaccinations.

“The city’s always an exciting place to be,” she said.

Published : December 28, 2021

By : Bloomberg

The cost of this years 10 worst climate disasters: $170 billion

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Ten of this years most destructive weather events cost a combined $170 billion in damages, according to a new study.

The cost of this years 10 worst climate disasters: $170 billion

Hurricane Ida, a tropical storm that pummeled much of the eastern U.S. with lashing rain in August, killed at least 95 people and cost the economy $65 billion. A month earlier, floods in Europe caused 240 deaths and an economic loss of $43 billion, according to research published by U.K. charity Christian Aid. Floods in China’s Henan province in July killed more than 300 and cost in excess of $17 billion.

“The costs of climate change have been grave this year,” said Kat Kramer, Christian Aid’s climate policy lead and author of the report. “It is clear that the world is not on track to ensure a safe and prosperous world.”

This year is expected to be the sixth time global natural disasters have cost more than $100 billion, the report stated, citing insurer Aon. All six of those years have happened since 2011.

The report’s authors estimated damages based on insured losses, meaning the true costs of these disasters are likely to be even higher. Calculations are usually costlier in richer countries due to higher property values and insurance, while some of this year’s deadliest weather events hit poorer counties that contributed little to global warming. South Sudan has been struck by floods that forced almost a million people to leave their homes, while East Africa has been ravaged by drought. That highlights the injustice of the climate crisis, said Christian Aid, which warned that such events will continue in the absence of concrete action to slash emissions.

The cost of this years 10 worst climate disasters: $170 billion

Mohamed Adow, director of Kenya-based think-tank Power Shift Africa, said the continent has “borne the brunt” of some of the deadliest, most expensive climate impacts. Severe droughts in East Africa, which are expected to last until mid-2022, are “pushing communities to the brink,” Adow warned.

The Paris Agreement on global warming, which aims to hold the increase in global temperatures to below 1.5 degrees Celsius, will not achieve its goals unless more urgent action is taken, according to the report. More needs to be done in 2022 to provide financial help to vulnerable nations, including a fund to deal with the damage caused by climate change — something that was not delivered at this year’s global climate talks in Glasgow, according to the study.”It was bitterly disappointing to leave COP26 without a fund set up to help people who are suffering from permanent losses from climate change,” said Nushrat Chowdhury, Christian Aid’s climate justice advisor in Bangladesh. “Bringing that fund to life needs to be a global priority in 2022.”

Published : December 28, 2021

By : Bloomberg

U.S. futures rise as traders mull virus, China vow

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U.S. stocks rose for a fourth day in thin trading as investors evaluated prospects for a year-end rally amid spiking coronavirus cases. Oil gained and the Treasury curve flattened.

U.S. futures rise as traders mull virus, China vow

The S&P 500 ended Monday near session highs, posting the 69th record close for 2021 with all major industry groups advancing. The tech-heavy Nasdaq 100 jumped 1.6%, outperforming other benchmarks. Oil climbed back above $75 a barrel in New York for the first time in a month. The two-year yield stayed higher after an auction while rates in the long end slipped.

“We like this, we love to see the Santa Claus rally continue,” Victoria Greene, founding partner and chief investment officer at G Squared Private Wealth, said on Bloomberg TV. “And I think the ability of equity markets to climb the wall of worry should not be underestimated.”

An annual event known as the “Santa Claus rally” kicked off Monday. Since 1969, the S&P 500 index has averaged a gain of 1.3% over the seven-day period, which includes the last five trading sessions of the year and the first two trading days of the new year, according to The Stock Trader’s Almanac.

Megacap stocks contributed the most to the S&P 500 gains, with Apple Inc., Microsoft Corp. and Meta Platforms Inc., the Facebook parent company, among top performers. Tesla Inc. capped its biggest gain over four days since March.

Travel stocks underperformed as flight cancellations over the Christmas weekend stretched into Monday, with winter storms pressuring carriers already short-staffed due to spreading Covid-19 cases. Anthony Fauci, President Joe Biden’s top medical adviser, indicated support for making vaccinations a requirement for domestic fights. Biden said he’s seeking to expand testing as demand surges.

JPMorgan Chase & Co. strategists said there’s little reason to fear that the rally that catapulted U.S. stocks to successive records this year will end anytime soon. In fact, it may get broader.

In Europe, the Stoxx 600 Index added to last week’s gains, while Asian stocks slipped. Chinese authorities began widespread disinfection measures in the western city of Xi’an, where an outbreak presents one of the country’s biggest challenges.

China’s central bank pledged greater economic support over the weekend, contrasting with steps by the Federal Reserve and other central banks to fight inflation by cutting stimulus.

What to watch this week:

–Hong Kong, Australian, Canadian and U.K. markets closed, Monday

–U.S. initial jobless claims, Thursday

Some of the main moves in markets:

Stocks

–The S&P 500 rose 1.4% as of 4 p.m. New York time

–The Nasdaq 100 rose 1.6%

–The Dow Jones Industrial Average rose 1%

–The MSCI World index rose 0.9%

Currencies

–The Bloomberg Dollar Spot Index was little changed

–The euro was little changed at $1.1328

–The British pound rose 0.4% to $1.3443

–The Japanese yen fell 0.4% to 114.88 per dollar

Bonds

–The yield on 10-year Treasuries declined one basis point to 1.48%

–Germany’s 10-year yield was little changed at -0.24%

Commodities

–West Texas Intermediate crude rose 2.7% to $75.81 a barrel

–Gold futures were little changed

Published : December 28, 2021

By : Bloomberg

Weather, pandemic combine for 1,200 more flight cancellations Monday

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Airlines struggled to recover Monday from pockets of wintry weather and an omicron-driven surge in caseloads that triggered staffing shortages and another 1,200 flight cancellations.

Weather, pandemic combine for 1,200 more flight cancellations Monday

The misery was shared broadly across the industry, but two smaller carriers – Alaska Airlines and SkyWest Airlines – were hit the hardest, according to aviation data provider FlightAware. The two carriers had canceled 476 flights as of Monday afternoon.

Airlines began preemptively canceling flights shortly before Christmas as employees called out sick after testing positive, mirroring a national surge in coronavirus cases. Carriers might have a chance to regain footing as travel eases between Christmas and New Year’s, but the latest figures – while down from Sunday’s peak – suggest more cancellations are likely in the days ahead.

Dennis Tajer, a spokesman for the Allied Pilots Association, which represents crews at American Airlines, said the industry is experienced in resetting after bad weather, but the compressed timeline of so many virus cases creates a challenge that could sideline airline employees for days.

“The system is under duress,” he said. “The weather’s going to hit, these events are going to hit. It’s a question of how you recover from it that is a sign that you’ve got your operation together.”

The wave of disruption began Christmas Eve, according to FlightAware, when 613 flights were canceled. Christmas Day saw 861 cancellations, with another 1,400 on Sunday – equivalent to nearly 7% of domestic flights that day.

The rounds of cancellations are the latest chapter in the airline industry’s efforts to recover from the early stages of the pandemic. After hobbling through much of 2020 with the help of tens of billions of dollars in federal aid, some airlines were left unprepared for a rapid return in demand from passengers this year.

When Thanksgiving passed smoothly at the nation’s airports, it looked as though airlines had survived their biggest test, only for Christmas to become turbulent.

Despite the struggles, there are few signs that the latest surge in coronavirus cases and flight disruptions are deterring people from boarding planes. The Transportation Security Administration said it screened more than 2 million people Sunday, which is about 80% of 2019 levels.

“People want to travel,” said Henry Harteveldt, an airline analyst with Atmosphere Research Group. “We are tired of being stuck at home. We have missed being able to celebrate holidays with family or friends.”

Harteveldt said it’s difficult to blame carriers for the effects of a variant that poses a challenge to their highly vaccinated workforces. While cancellation figures appeared to be trending downward Monday, he said “no one, absolutely no one, can tell you when this will end for certain.”

United Airlines said it canceled 115 flights Monday because of staffing issues related to the virus. Spokeswoman Maddie King said half of passengers who had to reschedule arrived early or within four hours of their original landing time.

SkyWest, a regional carrier that works with major airlines on shorter routes, said weather at some of its hubs and virus cases were to blame for its cancellations. Delta Air Lines said it expected to cancel more than 200 of its scheduled 4,166 flights Monday after canceling 374 a day earlier.

“Canceling a flight is always Delta’s last resort,” said John Laughter, the carrier’s chief of operations. “The result is not only difficult for customers, but for our people who want nothing more than to take care of them – especially over the holidays. We sincerely apologize to everyone impacted.”

Last week, airlines asked the Centers for Disease Control and Prevention to shorten the isolation period for fully vaccinated employees from 10 days to five, which would allow crew members to resume work more quickly. The agency announced the change as the national standard on Monday.

Anthony Fauci, the nation’s top infectious-disease expert and chief medical adviser to President Joe Biden, also suggested Monday that a vaccine mandate for domestic air travel could help control the virus.

“When you make vaccinations a requirement, that’s another incentive to get more people vaccinated,” Fauci said in an interview on MSNBC’s “Morning Joe.” “If you want to do that with domestic flights, I think that’s something that seriously should be considered.”

Airlines for America, a trade group, said Monday it had been informed that the Biden administration had no plans to pursue such a policy, which the industry opposes because of logistical concerns. The White House did not immediately respond to a request for comment.

While the spike in coronavirus cases has left some airlines struggling to get planes into the air, Southwest Airlines and Alaska said the more familiar problem of winter weather was affecting their operations.

Alaska Airlines said a snowstorm in the Seattle area, where it is headquartered, led to almost 250 cancellations Sunday and more Monday.

“We apologize for the inconvenience our guests are experiencing due to flight delays and cancellations,” Alaska Airlines said in a statement. “We realize it’s incredibly frustrating when travel doesn’t go as planned.”

Bob Mann, an airline industry consultant, said the number of cancellations was higher than usual but not in “meltdown” territory as some carriers experienced this year, when rising demand for travel collided with low staffing levels.

“If it’s your flight, it’s a disaster,” Mann said, adding that the industry is holding up, considering the challenges.

Problems should ease Jan. 1 with the start of a new month for staff scheduling, but Mann said the virus still presents an unknown heading into the new year. It’s hard to determine the level of uncertainties, he said, because airlines haven’t disclosed how many employees are sidelined because of positive tests.

The TSA said Monday that 1,147 of its employees had active infections, but an agency spokesman said it is operating like normal. That figure represents more than 9% of all coronavirus cases the TSA has logged since the start of the pandemic.

Earlier in the year, several airlines saw bad weather spiral into days-long waves of cancellations as crews were stuck out of position. Analysts and union leaders said the industry had cut staff too deeply during the early stages of the pandemic, leaving carriers vulnerable to lengthy disruptions.

There are indications in recent days that airlines have learned from those problems. Canceling flights proactively has given passengers time to adjust plans and helped to avoid the kind of chaotic scenes that played out at airports this summer and fall.

Other modes of transportation also were feeling the effects of the omicron surge Monday, with transit agencies facing staffing problems similar to those of airlines.

Many transit agencies, such as Metro in the D.C. region – which already face driver and operator shortages due to national labor constraints – have made service adjustments over the past week because of workers who tested positive for the coronavirus.

Metro on Monday reported a bus driver shortage was affecting 21 routes, down from about 60 last week.

“The rise of the omicron variant has adversely affected the public transportation industry, as it has virtually all sectors of society,” said Paul Skoutelas, president of the American Public Transportation Association. “Anecdotally, we have heard from many of our member systems that they’ve had to modify service and routes due to a lack of operators during this new wave of the pandemic.”

Officials at the Metropolitan Transportation Authority in New York, the nation’s largest transit system, said subway service was running on a normal schedule with few exceptions, despite a “dramatic” surge in infected employees.

“By managing our workforce, by inviting retirees to come back to work, by creating incentives for people to delay vacations during the holiday season and taking other steps, we’ve been able to continue to provide pretty solid service. The system is running,” Janno Lieber, the MTA’s acting chief executive, said during a radio interview Monday.

Amtrak officials said the nation’s passenger rail was holding up well, with no trains canceled because of the pandemic.

Published : December 28, 2021

By : The Washington Post

Commerce Ministry predicts 4% growth in exports next year

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Total exports in 2021 came in at US$268 billion, up by 16 per cent year on year, Commerce Minister Jurin Laksanawisit said on Monday.

Commerce Ministry predicts 4% growth in exports next year

The biggest earners this year were agricultural, agro-industrial and industrial products.

The Commerce Ministry predicts that the Thai export market will grow by up to 4 per cent in 2022 to $280 billion based on trading partners’ economies, exchange rates, the price of crude oil and raw agricultural products, the Covid situation and factors related to logistics.

The minister also said Thailand should also keep an eye on other factors affecting exports, namely the Omicron strain, shortage of labour and raw materials, environmental measures and public health situation in partner countries, etc.

Published : December 27, 2021

By : THE NATION

SET drops slightly amid foreign fund flow slowdown, technical signs

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The Stock Exchange of Thailand (SET) Index closed at 1,636.50 on Monday, down 0.72 points or 0.04 per cent. Transactions totalled 51.48 billion baht with an index high of 1,642.42 and a low of 1,632.79.

SET drops slightly amid foreign fund flow slowdown, technical signs

The index dropped for the second consecutive day after falling by 4.25 points or 0.26 per cent on Friday.

The 10 stocks with the highest trade value today were GUNKUL, GPSC, PTT, CRC, CPALL, DELTA, MAKRO, EA, OR and KBANK.

Other Asian indices were mixed:

  • Japan’s Nikkei Index closed at 28,676.46, down 106.13 points or 0.37 per cent.
  • China’s Shanghai SE Composite closed at 3,615.97, down 2.08 points or 0.057 per cent, while the Shenzhen SE Component closed at 14,715.65, up 5.32 points or 0.036 per cent.
  • South Korea’s KOSPI Index closed at 2,999.55, down 12.88 points or 0.43 per cent.
  • Taiwan’s TAIEX Index closed at 18,048.94, up 87.30 points or 0.49 per cent.

Hong Kong’s Hang Seng Index was closed for Boxing Day.

Published : December 27, 2021

By : THE NATION

Gold price freezes during Christmas

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The price of gold in Thailand on Monday morning was unchanged from Saturdays one-time trading price announcement.

Gold price freezes during Christmas

A9.26am report from the Gold Traders Association showed the buying price of gold bar at THB28,600 per baht weight and selling price at THB28,700, while the buying and selling price of gold ornaments is THB28,091.48 and THB29,200, respectively.

The spot gold price on Monday morning was hovering around US$1,811 (THB60,664) per ounce, after the price of gold moved in a narrow range in the past weekend, as all major gold markets around the world were closed for the Christmas holidays.

Related news:

Published : December 27, 2021

By : THE NATION

New Tourist Police campaign aims to make Thailand safer for travellers

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Tourist Police Bureau’s “New Year New Normal 2022” campaign launched on Monday will see more security checkpoints set up nationwide with officers on hand to provide assistance and promote safer travel across Thailand.

New Tourist Police campaign aims to make Thailand safer for travellers

Tourists will also be urged to download the “Tourist Police i lert u” smartphone application so they can seek help immediately.

The campaign was launched at an event presided over by Tourism and Sports Minister Phiphat Ratchakitprakarn in Bangkok’s CentralWorld shopping centre on Monday.

Also attending was Tourist Police chief Pol Lt-General Sukhun Prommayon.

New Tourist Police campaign aims to make Thailand safer for travellers
New Tourist Police campaign aims to make Thailand safer for travellers

“This campaign was launched as a publicity measure for tourists, so they realise that Thai police, including the Metropolitan Police Bureau, Central Investigation Police, Immigration Bureau, Tourist Police volunteers and the private sector will proactively provide security during the New Year period,” Sukhun said.

He added that the “Tourist Police i lert u” application, which was launched on December 15, aims to prevent crime as it monitors tourists while they are travelling in Thailand, so police can jump to their assistance when required.

The application is linked to the 1155 Emergency Response Centre, which will dispatch police officers immediately. The call centre is available in English, Chinese, Russian, Japanese and Korean, and will next year support French, German and Arabic.

Related news:

New Tourist Police campaign aims to make Thailand safer for travellers
New Tourist Police campaign aims to make Thailand safer for travellers

Published : December 28, 2021

By : THE NATION

Faulty gene makes South Asians, Britons more susceptible to Covid-19, study finds

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The answer as to why the number of Covid-19 infections in the UK and South Asia is so high may lie in the LZTFL1 gene, the Chulabhorn Royal Academy said in a Facebook post on Monday.

Faulty gene makes South Asians, Britons more susceptible to Covid-19, study finds

“The destructive form of the LZTFL1 gene is found in up to 60 per cent of people of South Asian descent, 15 per cent of people with European ancestry, 2.4 per cent of Africans and 1.8 per cent of East Asians,” the post read. “Racial backgrounds carrying the high-risk version of the gene double the risk of death from Covid-19.

“The Nature Genetics website has published a study on the LZTFL1 gene,” said the post. “Researchers believe the risky version of the gene makes people’s lungs more susceptible to coronavirus and derails a key protective mechanism that cells lining the lungs normally employ to defend themselves from Covid-19.”

According to the study, when cells lining the lung interact with coronavirus, one of their defence strategies is to turn into less specialised cells and become less welcoming to the virus. This de-specialisation process reduces the amount of a key protein called ACE-2 on the cell surface, which is key to coronavirus attaching to the cells. But for people with the risky version of the LZTFL1 gene, this process does not work as well, and lung cells are left vulnerable to the virus.

The study concluded that patients with a low expression of the LZTFL1 gene are at lower risk of coronavirus invasion in their lungs, while a higher version of the LZTFL1 gene expression derail cell transformation and make the lungs vulnerable to infection. This gene doubles a person’s risk of death from the disease – worse than coronary heart disease and diabetes – and can also affect people below the age of 60.

The academy also quoted Prof Frances Flinter, emeritus professor of Clinical Genetics at King’s College London, who concluded that it is particularly important to inoculate communities that are at a greater risk of serious Covid-19 infection due to this gene. She said this increased risk can be cancelled out by vaccination.

Related News

Thailand’s first plant-based Covid-19 vaccine to be adjusted to fight against Omicron

Covid scientists find a turning point in life-threatening cases

Chula research team comes up with innovative, fast, accurate, affordable Covid-19 test kit

Published : December 28, 2021

By : THE NATION

Israeli quarantine escapee to be charged, deported

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Israeli quarantine escapee to be charged, deported

Once the court issues a ruling, Baruch will be deported under the Immigration Act.

The Israel national landed in Thailand on December 17 under the Test & Go scheme and left his hotel in Bangkok’s Thong Lor area before his RT-PCR test result was released.

The court subsequently issued an arrest warrant for the man and he was later caught at a restaurant on Samui island and charged with violating the emergency decree and communicable disease control act.

Israeli quarantine escapee to be charged, deported

He was then escorted to Koh Samui Hospital for a Covid-19 test and was found to be negative.

However, Suphakit Sirilak, director-general of the Department of Medical Sciences, said on December 23 that the earlier test showed Baruch was infected with the Omicron variant.

Related stories:

Published : December 28, 2021

By : THE NATION