Saturday, June 26, 2021
UK Minister Resigns As Health Secretary Amid Row Over Violating Covid Norms With Office Kiss
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India Reports 50K Covid Cases In Last 24 Hrs, Recovery Rate Surges To 96.75%
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Zydus Cadila's COVID Vaccine For Children Likely To Be Available In Near Future, Centre Tells SC
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Almost all of the current COVID-19 deaths are among those unvaccinated
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- More than 99% of those hospitalized for COVID-19 are unvaccinated, the Associated Press reported.
- Fully vaccinated people accounted for .8% of COVID-19 deaths in May.
- Experts are urging Americans to get vaccinated as the more transmissible Delta variant spreads.
- See more stories on Insider's business page.
Almost all of the COVID-19 deaths in the US are among those who are unvaccinated, an Associated Press analysis found.
While over 853,000 were hospitalized for COVID-19 in May, less than 1,200 of them or about 0.1% were people who were fully vaccinated, the AP found using data from the Centers for Disease Control and Prevention.
Of the 18,000 COVID-19 deaths, only 150 were people who were fully vaccinated or only 0.8%.
"They are [vaccines] nearly 100 percent effective against severe disease and death, meaning nearly every death due to COVID-19 is particularly tragic because nearly every death, especially among adults, due to COVID-19 is, at this point, entirely preventable," CDC Director Dr. Rochelle Walensky said during a press briefing on Tuesday.
More than 45% of all Americans are fully vaccinated against, CDC data shows, but The Washington Post reported vaccination rates have been on the decline, with fewer Americans signing up to get the shot.
This comes at a time when top health officials are urging Americans to get vaccinated as the more transmissible Delta variant - which originated in India - becomes a growing concern. It may also be able to evade protection from existing vaccines, as Insider's Aria Bendix reported.
Walensky told NBC News that data so far shows that two doses of Pfizer and Moderna vaccines should work really well against the Delta variant, and she is encouraging people to get their second doses if they haven't.
She is however concerned about pockets across the country that are less vaccinated than others. There's a stark vaccine rate disparity amongst counties across the US with some at only 0.1% and others near 100%.
Those that have lower vaccine rates are at a higher risk of an outbreak as a result of the variant. Experts told Insider's Aria Bendix and Joanna Lin Su that they ideally want a community to have at least a 75% vaccination rate so the virus is less able to pass from person to person.
"Some places are above 60%, so there are some pockets that are pretty protected," Lisa Lee, an epidemiologist at Virginia Tech, recently told Insider. "We have to understand, though, that it just takes a couple of cases, a couple of people coming into a community, to pass this along."
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Did Varun Sood Violate COVID-19 Rules After Returning From Cape Town? Khatron Ke Khiladi 11 Contestant Reacts!
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Florida Gov. Ron DeSantis' law punishing student 'indoctrination' is a 'disgraceful' assault on academic freedom, free speech experts warn
Wilfredo Lee/The Associated Press
- DeSantis signed a law mandating public universities survey students and faculty on their political beliefs.
- Scholars and advocates said the law is "disgraceful" and could lead to bizarre classroom instruction.
- For instance, "intellectual diversity" could be used to mandate professors teach creationism alongside the science of evolution.
- See more stories on Insider's business page.
Florida's Republican governor, Ron DeSantis, signed a new bill into law on Tuesday that requires the state's public universities to survey faculty, students, and staff on their political beliefs to measure "viewpoint diversity" and fight student "indoctrination."
The Republican-passed law aims to determine "the extent to which competing ideas and perspectives are presented" in classrooms and whether students "feel free to express beliefs and viewpoints on campus and in the classroom," according to the bill's text. And it mandates that students "be shown diverse ideas and opinions, including those that they may disagree with or find uncomfortable."
It remains unclear how the state will use the information it gathers, but free speech scholars and advocates are concerned DeSantis and the legislature will retaliate against universities and their faculty for political reasons. The governor, who's built a national profile with his Trumpian politics, suggested on Wednesday that the state will cut funding for schools it deems "hotbeds for stale ideology."
First Amendment experts say the Florida law is unconstitutional and will do the opposite of what it purports to. Instead of promoting free speech, they fear it will both suppress certain viewpoints and undermine academic freedom, as well as force professors to waste time introducing discredited science and theories. And the effort comes amid DeSantis' broader crackdown on free speech, including Black Lives Matter protests and the teaching of critical race theory in public schools.
Undermining free speech and academic freedom
Critics of Florida's new law fear DeSantis and the GOP-run state legislature will intimidate universities and chill speech on campus. Micah Kubic, the executive director of the American Civil Liberties Union of Florida, said the law is unconstitutional because there is no "overwhelmingly compelling government interest" to warrant suppressing the speech of professors and students.
"This is a really disgraceful move that undermines the First Amendment, that will chill speech on campuses, and I think that trying to brand it as somehow a defense of free speech is an ultimate 'up is down' moment," Kubic told Insider. "Everything about it is designed to chill and intimidate, not to actually cultivate an environment of free speech or dissent."
He added, "Ron DeSantis disapproving of what you think is not a compelling government interest."
The ACLU is waiting for more clarity on what the survey will look like and how it will be implemented before making decisions about its legal strategy. Kubic said "all options remain on the table."
While all public universities are already required to respect the First Amendment, the values of freedom of speech are inconsistent with academic freedom, said Robert Post, a constitutional law professor at Yale and former dean of the school. Professors differentiate between good and bad ideas, and truth and falsehoods, in ways that are inconsistent with promoting "intellectual diversity." While the government must protect all speech equally, universities regularly grant tenure to faculty, grade students, and award grants - all actions that involve discriminating between ideas.
"We train students to become competent in their disciplines and that, of course, means it's not a marketplace of ideas, it's an educational ground for the creation of competence," Post told Insider. "All ideas are not equal, if you care about competence."
Requiring "intellectual diversity" in the classroom is akin to mandating a discredited theory like creationism be taught alongside the established science of evolution, Post said. Political science departments shouldn't hire liberal and conservative professors, they should hire good political scientists, regardless of their personal political beliefs. He fears that the law will empower politicians "who think politics should override truth" and compared the phenomenon to Joseph Stalin's partnership with the Soviet biologist Trofim Lysenko, who pushed Marxist-approved agricultural pseudoscience that helped drive the country's deadly famines.
Mo Grossi/MediaPunch /IPX
A broader effort to suppress speech
The new law is one of a series of measures DeSantis and his GOP allies have taken to crack down on free speech and regulate education. This spring, DeSantis signed a law that dramatically heightened criminal punishments for protesters. Last week, he preemptively barred Florida schools from teaching about systemic racism and the history of slavery through the lens of critical race theory and The New York Times Magazine's "1619 Project."
There are a slew of reasons why classrooms are increasingly a battleground for political culture wars. Education polarization in electoral politics has deepened in recent years. College-educated voters were key to President Joe Biden's 2020 victory and the gap between how college-educated and non-college-educated Americans vote widened last year and is particularly pronounced among white voters. In the 2020 election, Biden won 54% of college-educated white voters, while former President Donald Trump won 63% of non-college white educated voters, according to an analysis of the election results by the Democratic data firm Catalist.
As the country becomes more educated, this widening polarization could present an ongoing challenge for the Republican party across the country. Asserting more control over what is taught in public schools might be one way for the GOP to reverse this trend.
But Ken Paulson, director of the Free Speech Center at Middle Tennessee State University, said this particular effort may well backfire. He thinks faculty and students alike will largely reject the survey and simply refuse to participate in the state's efforts. The media headlines are the point, he argued, and the GOP's effort will fail on a practical level.
"Professors are going to boycott it purely because this is a state messing with the education of young people," he told Insider. "I just know as a dean, trying to get my faculty to respond to any survey - you know, professors are very busy people and they also do not take to authority well."
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Delhi Covid Curbs Relaxed Further; Gyms To Open With 50% Capacity From Monday, Weddings Can Have 50 Guests
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Tamil Nadu Covid Guidelines: Bus Services Allowed In 27 Districts - Check Details Here
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How Walmart CEO Doug McMillon went from unloading Walmart trucks as a teenager to earning a $22 million salary
Danny Johnston / AP Images
- CEO Doug McMillon started his Walmart career unloading trucks in Arkansas.
- McMillon has been called one of the most 'woke' CEOs in the country.
- McMillon is chairman of nonprofit Business Roundtable, which promotes business through public policy.
- See more stories on Insider's business page.
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University of Arkansas Libraries Special Collections
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Source: Fortune
McMillon has worked across food, apparel, home furnishing, baby food, and more, according to Bloomberg Businessweek. He worked as a general merchandise manager at Sam's Club (Walmart's wholesale store) and climbed to a senior VP at Walmart overseeing toys, electronics, and sporting goods.AP
Source: Bloomberg Businessweek
In 2006, McMillon got his first truly high-profile job in the company, as CEO of Sam's Club. According to The Wall Street Journal, that's where he made his reputation by focusing on small-business owners.Scott Olson/Getty Images
Source: The Wall Street Journal
Under McMillon, Walmart brought its "everyday low prices" mantra to the rest of the world. International sales outpaced US sales, growing to 29% of the company's total. This was just one accomplishment that led to his promotion to CEO in 2014.AP Photo/Julio Cortez
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Source: Reuters
Max Nissan contributed reporting to an earlier version of this article.
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Ted Cruz joins forces with other GOP lawmakers to try and end the mask mandates for vaccinated travelers, ahead of Independence Day
Alex Brandon/AP Photo
- A group of GOP senators on Friday asked the CDC to end federal mask requirements for travelers.
- Sen. Ted Cruz said the guidelines were an "outdated and unnecessary mandate."
- The group introduced a three-page bill in the Senate on Thursday.
- See more stories on Insider's business page.
A group of Republican senators led by Ted Cruz on Friday announced a bill seeking an end to federal mask mandates for vaccinated travelers on planes, trains, and other public transport.
Mask requirements from the Centers for Disease Control & Prevention (CDC) and Transportation Security Administration (TSA) have outlasted their purpose, the lawmakers said.
The CDC in February recommended that travellers stayed home until they were fully vaccinated, but still required everyone to wear a mask while on public transport. The same was true for the TSA, which extended its requirement until September. Airlines have their own requirements, too.
"Americans should be able to travel to celebrate Independence Day with their friends and loved ones without having to follow an outdated and unnecessary mandate," Sen. Ted Cruz said in a statement accompanying the bill.
In addition to Cruz, the GOP effort involved Susan Collins, Jerry Moran, Roger Wicker, Cynthia Lummis, and Marsha Blackburn. It came as states across the country continued loosening restrictions on daily life.
TSA mask mandates have led to altercations in airports and on flights, where cabin crews have had to deal with unruly passengers. Flight attendants have described "unprecedented" violence. The TSA in July will restart its self-defense training for flight crews.
David Zalubowski/AP Photo
A frequent flier last week sued seven airlines, saying vaccinated travelers should be able to fly without masks.
The resolution, introduced in the Senate on Thursday, said the CDC could incentivize more people to get vaccines by dropping the mask requirement.
The three-page text said that getting rid of the mask mandate "would be instrumental in helping the economic recovery of the United States by boosting travel and benefitting the travel and tourism industries without sacrificing public health."
In late May, the transportation secretary, Pete Buttigieg, said the mask requirement on public transit was a "matter of safety, but it's also a matter of respect" for flight crews.
Collins in a statement said she'd spoken with flight attendants about the mandate. The senator said she'd heard about "horrendous and unthinkable violence" on recent flights.
If vaccinated people on the ground no longer need masks indoors, then fliers don't need them either, Collins said.
"It makes no sense that someone can go to a restaurant without wearing a mask, but they cannot fly on an airplane without one, even though it has a far better ventilation system," she said.
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The CEO of Carnival, the world's biggest cruise company, says the huge demand for travel on its ships is outstripping supply
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- Donald Arnold said Americans are desperate to return to Carnival Corp's cruises.
- "We have far more demand than we have ships available to supply right now," he told Fox Business.
- He added that the chance of a COVID-19 outbreak onboard is "very low," but can't be ruled out.
- See more stories on Insider's business page.
The CEO of Carnival Corp, the world's biggest cruise company, said that demand across its nine cruise lines is soaring and that Americans are raring to get back on the water.
"Honestly, people are champing at the bit to cruise again," Donald Arnold told Fox Business Friday.
Its first US cruise, the Vista, by Carnival Cruise Line, its biggest brand, is setting sail from Galveston to the western Caribbean on July 3.
Arnold said that people were confident in the safety of cruises as the vaccine rollout continues across the US, and that the shots were a "huge game-changer."
Bookings were "robust" and among the highest in the company's history, according to Arnold.
He said: "We do not have an issue with being able to fill the ships. People are ready to sail. In fact, we have far more demand than we have ships available to supply right now."
In a second-quarter business update Thursday, the company said that booking volumes for future cruises were 45% higher than during the first quarter. It added that advance bookings for 2022 were already higher than in 2019, thanks to pent-up demand.
People are spending a lot of money on board, too. The CEO of Celebrity Cruises said travelers are eager to shell out extra cash on casinos, massages, and luxury meals.
Arnold told Fox Business that some of Carnival's cruise lines, including Costa, had been sailing out of Europe during the pandemic. Many of these passengers were unvaccinated, but the company implemented universal testing, social distancing, mask-wearing, and enhanced medical screenings, he said.
There were less than 50 reported coronavirus cases out of around 400,000 guests on board, according to Arnold, who added that guest satisfaction scores were "sky high."
Arnold said that there would be some unvaccinated guests on its cruises in the US, but that these passengers would have to take regular COVID-19 tests and wear masks.
Celebrity Cruises last week unveiled new regulations subjecting unvaccinated passengers - or those unwilling to show proof of the vaccine - to onboard restrictions, extra COVID-19 tests, and additional costs.
But being fully vaccinated doesn't completely prevent the risk of catching or spreading COVID-19.
"If the virus is in the community on land ... then of course you can get it on board despite all the things we do," Arnold told Fox Business.
"We can't guarantee there will never be a case on board, but the chance of an outbreak is very low," he added.
And on a "fully vaccinated" Royal Caribbean cruise sailing from the Bahamas, two passengers aboard tested positive for COVID-19. Both were under the age of 16, meaning they were exempted from the vaccine mandate.
Carnival said that at least 52% of its ship capacity would be sailing by the end of November, and expected to have its full fleet back in operation by spring 2022.
Arnold told Fox Business that Carnival was selling or had sold 19 ships during the pandemic, reducing its total capacity by 13%, but that the company was buying more ships and would grow its capacity by around 2.5% through 2025.
He added that its newest ship, the Mardi Gras, was setting sail from Port Canaveral to the eastern and western Caribbean on July 31. Carnvial Corp said that the ship is the first in the world to have a rollercoaster on board, as well as the first in North America to be powered by liquefied natural gas.
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21 key public-cloud partnerships on Wall Street
Hi readers,
Happy Saturday, and welcome to Insider Finance. Here's a rundown of the must-know stories from the past week:
- Goldman Sachs is fast-tracking analyst hiring with junior bankers in short supply
- Bank of America's top bank stock researcher is leaving the firm
- 21 key public-cloud partnerships on Wall Street
- Execs from Deutsche Bank, AllianceBernstein, and Accenture on return-to-office plans
- Rich founders look to cash out ahead of possible tax hikes
If this email was forwarded to you, sign up here to get your daily dose of the stories dominating banking, business, and big deals.
A Goldman Sachs private wealth exec is urging rich founders to take steps to avoid any 2022 tax hikes
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Goldman's private wealth arm helps clients save on taxes by advising on estate and asset sales. Tax proposals from the Biden Administration and Democratic Senate would cost the wealthy millions.
Here's what advisors are telling clients.
a16z is zeroing in on the New York fintech scene with a new general-partner hire. He explains why the best minds on Wall Street are pivoting to startups.
Joey Hadden/Insider
Andreessen Horowitz is on a hiring spree, and David Haber is its latest get. Here's how he's thinking about fintech investing.
Wall Street firms are picking favorites in their public cloud journey. Take a look at 21 key partnerships.
Financial companies, from big banks to startups, are increasingly embracing the public cloud. Preferred partnerships are cropping up between these companies and the industry's four main cloud providers.
Here's our running list of key cloud partnerships announced so far.
Goldman Sachs is fast-tracking analyst hiring and may cut down on interview rounds as Wall Street gets desperate for junior bankers
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The move comes as Wall Street is battling a shortage of junior talent. Get the full scoop here.
WATCH: Execs from Deutsche Bank, AllianceBernstein, and Accenture share return-to-office plans, from COVID-19 vaccinations to long-term hybrid models
AllianceBerstein; Deutsche Bank; Accenture; Insider
Wall Street is beginning the return to to the office, but banks, hedge funds, and asset managers are approaching the transition in different ways.
Executives from Deutsche Bank, AllianceBernstein, and Accenture joined Insider finance reporter Reed Alexander on June 24 to explain how they're navigating the process.
Wall Street people moves
- Top bank research analyst Erika Najarian is joining UBS, leaving Bank of America after more than a decade
- Goldman Sachs hired a top internet-research analyst away from UBS
- Read our full roundup here.
More stories readers loved this week
Samantha Lee/Insider
- Truist's new investment-banking head says he's adopting a "mindset of disruption" to take on Wall Street's elite
- From "vanilla" skirt suits to "too-tight" shirts: Female lawyers describe how it's impossible to win when it comes to professional dress codes
- Northwestern Mutual quietly built a $220 billion wealth business. Now it's eyeing its next big hiring push.
- Blackstone's Steve Schwarzman celebrated the PE giant's stock hitting $100 with a congratulatory note to staff
- Raymond James is staffing up with healthcare bankers
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