US Business News

Create Every Opportunity Equips Students with the Right Financial Mindset to Prepare Them for Future Success

Education is one of the most important aspects of an individual’s self-actualization. However, it cannot be denied that the current educational system lacks a fundamental skill that should be taught to every young developing mind. Financial literacy and entrepreneurship often play second fiddle to the other subjects in the current school curriculum, but it is undoubtedly one of the most foundational skills that anyone should possess, no matter the age. Fortunately, Create Every Opportunity (CEO) is a company that expertly does what its name implies: creating better financial opportunities for students and teachers alike.

Create Every Opportunity operates under the premise that all schools should teach financial literacy and entrepreneurship. The company firmly believes that developing the basic foundations of these topics can create a wealth of opportunities for everyone involved. One of the main tenets of The CEO Program teaches students how to identify problems and create solutions. This is exactly what Create Every Opportunity has done since its inception — identifying a pressing problem in the modern school system and creating a foolproof solution to eradicate it.

Create Every Opportunity is equipped with highly-coveted resources that not only teach the students but also teach educators how to teach entrepreneurship and financial literacy. Let’s face it; most people are painfully unaware of even the basics of these topics, which is why CEO is going above and beyond to patch up any holes in the knowledge of even the most tenured educators. The CEO Program was created with the best solution in mind. It helps both students and teachers understand everything down to the nitty-gritty of even the most complex financial topics.

The company works with the most knowledgeable and influential entrepreneurs in the world. Additionally, it has worked with companies and business leaders to curate a program that teaches all the basics of financial literacy, entrepreneurship, and business. Thanks to its founders’ real-world business experience, CEO has developed learning resources that are quick to learn and master for people of all ages.

The CEO Program is filled to the brim with valuable information such as professional advice and basics driven by years of experience from people like Shark Tank entrepreneurs to professors from the top universities and colleges in the United States. While most schools do not offer financial literacy or business training in their curriculum, CEO hopes to ignite a paradigm shift where financial literacy and entrepreneurship will be required subjects for all schools in the country.

“Through The CEO Program, we’ve developed our curriculum by looking at the shared topics in every state’s business education program and by working with acclaimed business experts to teach our students about the importance of financial literacy and entrepreneurship skills,” shared Create Every Opportunity founder Zachary Sarf. “I have a passion for entrepreneurship and business building. My co-founder, Ashley Henschel and I have worked hard over the last two years to bring this type of education to schools,” he added.

Create Every Opportunity calls on all schools and government officials to make financial literacy and entrepreneurship mandatory in the country’s educational curriculum. With the expertly crafted CEO Program, gone are the days when students will be burdened by financial woes instilling a financially forward mindset and creating success at every turn.

More Jobs were Created in August Reveals New Report by the Labor Statistics Bureau

Photo Credit: Stefani Reynolds via Getty Images

The U.S. labor market has intrigued economists, as businesses added 315,000 new jobs in August on top of the revised 526,000 positions companies had added the month before.

Even though the results were better than economists had predicted, the nation’s unemployment rate increased from 3.5% to 3.7%. According to a report by the Bureau of Labor Statistics, the rate has grown as a result of the post-pandemic surge in applicants coming into the labor market.

Meanwhile, inflation pushed interest rates to all-time highs. However, considering the August report’s apparent positivity, the Fed may decide to lower the rates when it meets later this month to discuss the rates it will impose on the nation.

The Fed, however, does not at all like how rigorous the labor market currently is. The relatively slow pace of purchases in several industries, such as housing, which has become more volatile over the months, is evidence that the economy is already slowing down. The labor market is “clearly out of balance,” according to Fed Chairman Jerome Powell, with demand for workers substantially exceeding the supply of available workers.”

Read Also: Ford Will Cut Costs by Laying Off Over 3000 Employees

 

The labor market in August

According to a report from the Bureau of Labor Statistics, there were twice as many open positions as job seekers last week. This can be explained by the number of open positions for candidates, which already reached 11.2 million last July, an increase of 700,000 from June.

“We have a calm center and lots of conflicting factors swirling around. But effectively, what we’re seeing is that in spite of rising rates and supply chain issues that continue to plague [businesses], the jobs market is robust. There’s a lot of pent-up demand for employees,” said Jim McCoy, Manpower Group, senior vice president.

The employment rate in the professional and business services and healthcare sectors markedly expanded in August. When compared to the latter, which added 68,000 positions, the former saw a 48,000 uptick. With the new figures in place, the U.S. now adds 438,000 jobs on average each month.

“I think it’s reasonable to expect that we will not keep that pace up between now and the end of the year,” Bankrate senior economic analyst Mark Hamrick said. “I think that we may well have seen the low for unemployment during this cycle.”

Read Also: Elon Musk, Legal Team Intends to Delay Acquisition Deal Trial, Cites Disclosure from Twitter Whistleblower

 

The goal of the Feds

This year is higher than the yearly average during the pre-pandemic period. The Feds might accept the figures presented in the August report, according to Boston College’s Brian Bethune.

“I don’t think the Fed wants to see things suddenly decelerate, nor do they want to see things move at too rapid of a rate for the economy to adjust,” explained Bethune. “What the Fed wants is the Goldilocks economy. They want it to be moving along at a steady pace — but not too fast; not too hot, not too cold.”

Bethune defended his position by arguing that hiring more people would relieve restrictions on goods and services, particularly those that necessitate a significant amount of labor.

“If the Fed goes and drives through the stop sign [by overcorrecting and spurring a recession], and we get a reduction in employment as a result, then we’re going to get a reduction in supply — really not the right path to go at all,” Bethune added.

The Fed also takes into account other factors, one of which is wage growth, in addition to job availability and its connection to the number of people seeking employment. Powell claimed that continuing wage increases would only play a part in longer-term inflation.

“This is, no doubt, a welcome development for the Fed, but we shouldn’t see this as a sign of an imminent Fed pivot toward looser monetary policy,” explained EY chief economist Gregory Daco.

Daco predicted that the Feds might decide to add a total of 50 basis points during their meeting later this month, given the market’s current circumstances and other elements they are closely monitoring.

Source: CNN

Father of Highland Park Mass Shooting Suspect Maintains He Had No Involvement with the Massacre

On Monday, an Independence Day parade in Highland Park, Illinois, ended in tragedy when it was halted as a gunman opened fire, killing more than seven people and injuring 31 others.

A manhunt followed, leading to the arrest of a 21-year-old suspect who was arrested and charged with seven first-degree killings. The Lake County prosecutor also said he could face “dozens more charges”.

Robert Crimo Jr, the suspect’s father, said he and his son had discussed another mass shooting the day before: the shooting at a shopping mall in Copenhagen, Denmark.

The shooting they discussed occurred when a 22-year-old Dane killed three people and injured many more.

“He goes, ‘Yeah, that guy is an idiot,'” recalled the father. “That’s what he said.”

Read also: President Joe Biden Quickly Addresses the Illinois Shooting in the Middle of a Reassuring Independence Day Statement

Robert Crimo III, the father of the Independence Day shooter, also said that people who commit mass shootings give others more reasons to call for a gun ban.

People blame the father for sponsoring Crimo a gun owner ID before he was 21 (when the killer was 19, officials say). However, the father claims he was not involved in the mass shooting.

It is unclear whether the suspect would have had to renew his license if he had been 21. In a lawsuit against the gunman, Crimo’s parents sought the help of attorney Steve Greenberg, infamous for playing R&B singer and sexual predator R. Kelly.

“I don’t know how much worse it could get then you wake up in the morning and a few hours, you realize that someone that you’ve loved and nurtured all their lives has done such a terrorific act, and done it to people that you love and respect,” Greenberg told ABC7 on Wednesday.

“This isn’t the parent’s fault. This is the fault of the young man who was allowed by the system that’s out there to buy military-grade assault rifles.”

The lawyer also spoke of an incident in 2019 when police were called to investigate a possible threat from a gunman, which involved the seizure of a collection of knives. 

“The police investigated. They didn’t perceive there was any great threat because they returned these knives to the family just a few hours later,” said Greenberg. “And there were no other incidents. So we’re three years later now.”

Read also: Matthew McConaughey challenges lawmakers in White House speech, asks for stricter gun laws

Heavy Rainfall, Flood Destroy Communities in Pakistan, the Worst Disaster in a Decade says Climate Change Minister

Photo Credit: Akhtar Soomro | Reuters

Pakistan is now feeling the effects of the climate crisis, as many people have fled their homes seeking refuge due to widespread flooding. According to Pakistan’s climate change minister, the deadly floods have killed thousands and affected more than 33 million people.

According to the Pakistan National Disaster Management Authority, 937 people have died as a result of heavy rain and flooding in the country since mid-June. Sherry Rehman, Pakistan’s climate change minister, stated that the current situation is the country’s worst humanitarian disaster in a decade. The minister went on to say that the country was blindsided by the recurrence of the rains.

“Pakistan is going through its eighth cycle of monsoon while normally the country has only three to four cycles of rain,” added the minister. “The percentages of super flood torrents are shocking.”

The south of the country is suffering the most from the rains, but the minister added that assistance is on its way. Officers and workers from the Pakistani Army, NDMA, and the Provincial Disaster Management Authority are collaborating on rescue and relief efforts. Despite the efforts, Rehman stated that more support is required because more people are seeking shelter from the downpours.

For example, Sindh, Pakistan’s southern province, required 1 million tents to house millions of flood victims. Meanwhile, residents of the neighboring Balochistan province require 100,000 tents after the rains flooded their communities and disrupted their gas, electricity, and internet access.

Rehman has now called the international community for help. “Pakistan’s priority, at the moment, is this climate-induced humanitarian disaster of epic proportions,” she said.

Read Also: As Cities Report Fewer Cases of Monkeypox, CDC Expresses Optimism that the Virus is Slowing Down

 

Pakistan hard hit by the climate crisis

In the aftermath of recent events, Pakistan’s Prime Minister told the international community that the country is focusing on rehabilitation in order to become climate change resilient. Meanwhile, Pakistan’s Planning and Development Minister stated that the 30 million affected constitute 15% of the country’s population.

The UN Office for the Coordination of Humanitarian Affairs stated that the monsoons had impacted 3 million Pakistanis. Due to the damage caused by the water to houses, over 184,000 of these people have been forced to flee to relief camps.

Unfortunately, the country still needs to complete the prerequisites before it can borrow money from the International Monetary Fund for rehabilitation.

According to NDMA reports, 150 kilometers of the country’s roads were damaged within only 24 hours, and 82,000 homes were partially or completely destroyed. Since mid-June, the monsoons have wreaked havoc on Pakistan’s 3,000 kilometers of roads, 130 bridges, and 495,000 homes.

Read Also: World Trade Will be Adversely Impacted by China’s Energy Crisis Management as Country Struggles to Find Alternative Resources

 

Rains are expected to continue

“Brother, the rain has not stopped for the past three months … We are living in a rickshaw with our children because the roof of our mud house is leaking,” a woman from Sindh said to reporters. The province sustained the most damage from the rains.

“Where can we go? The gutters are overflowing, and our courtyard is filled up with sewage. Our houses and alleys have turned into a floating garbage bin,” the woman further said.

OCHA has already issued widespread warnings in Pakistan. Citizens should be on the lookout for any potential floods, river overflows, and landslides. Furthermore, most areas in Pakistan will continue to be wet in the coming days, which is causing concern among many.

The forecast for Sindh has surpassed the yearly average. The average rainfall in August alone was 784% above average, a sevenfold increase. Due to the excessive rain, 23 districts have declared a weather emergency. With 500% more rainfall in August than in July, the neighboring Balochistan has also been severely impacted by the rains.

Internet and phone service have been suspended, along with electricity and gas, according to the Provincial Disaster Management Authority. Because of this, search operations are challenging for rescuers.

Source: CNN

The Power of Clothing: Pelosi’s Pink Attire in Taiwan More than Just Coincidence

Photo Credit: Famer Rohen/Malaysian Department of Information

The Taiwan visit by Nancy Pelosi was unexpected. On a Tuesday night, when the island nation’s normal hustle and bustle of people were absent, the House Speaker’s plane touched down at Taipei Songshan Airport. On the other hand, Pelosi’s entry into the nation was vital for the country.

The pink jumpsuit Pelosi wore as she strolled through the airport in front of Taiwanese officials and the media stands out among the sea of monotonous suits. Even though Pelosi’s trip has been regarded primarily from a viewpoint, her clothing stands for more than just the goal of going to Taiwan.

As previously reported, Pelosi made her declaration, stating that the US will stand by Taiwan on its path to economic prosperity and global market access. But her pink outfit also serves as a means of political communication.

The House Speaker took a trip to Malaysia before Taiwan and dressed in similar clothes. Her suit is accompanied by the customary pearls and heels worn by US politicians.

While on her way to Taiwan, Pelosi had the opportunity to change her outfit, but she opted not to. Simply put, Pelosi might have wanted to send out a message when she decided to retain the pink outfit.

Although the suit exuded power and confidence, it did not elicit any threats. Rather, it appeared that donning pink in front of Taiwanese legislators was a display of friendship rather than a protest against China, which has since castigated the speaker for being there with the intent to inflame tensions between the two nations.

Read Also: US Strengthens Economic Ties with Taiwan in New Agreements, Talks

 

Pelosi is replicating another strong woman

Wearing the attire, Many have begun to speculate if Pelosi intended to mimic Hillary Clinton, a woman who served as a role model to many Americans.

1995’s Fourth World Conference on Women, hosted by the UN in Beijing, saw Clinton attend dressed in pink. The then-first lady made the resounding declaration that “women’s rights are human rights,” which has become deeply embedded in the cultural context of numerous societies all over the world.

Clinton continued by addressing the threats made against women by various countries, including China, and stating that the cycle of violence and prejudice must be broken. Clinton’s manifestation that caught the attention of China is similar to Pelosi’s actions when she enraged China following her visit to Taiwan.

The speech delivered by Clinton was censored in China. Pelosi, however, appears, dressed in the same shade of pink, as though to remind China that women are capable of taking on a superpower.

Read Also: US Navy Warships are Bound to the Taiwan Straight, China says US Needs to Withdraw Vessels

 

Pelosi likes to wear pink

On multiple occasions, the public in the US has seen Pelosi wearing pink clothing. She sported a Fuschia dress during the 166th swearing-in of Congress, a pink suit during an interview on “The Late Show with Stephen Colbert,” and pink pumps for the photo opportunity with the chairs of the House committees. Pelosi is also pictured wearing a pink blazer on her Twitter account.

Pelosi doesn’t frequently respond to inquiries about her clothing choices, as do many other political women. We can be sure, though, that the House Speaker respects the message that clothing, including color choice, can send to the public.

When Pelosi sports her pink attire, it displays strong female leadership. A number of other women in the political domain also embody this spirit, such as Vice President Kamala Harris, who wore all-white suits to accept her position as the US first female vice president and Congresswoman Alexandria Ocasio-Cortez, who used red lipstick as her “war paint.”

Tsai Chi-chang, the deputy speaker of the Taiwan legislature, may have worn a pink tie when he got to meet with Pelosi the morning after her arrival because the public and even politicians find a significant amount of importance in clothing choices.

Pelosi chose a color that represents female power because clothing has symbolism, which helped her message get across.

Source: CNN

Following Covid Lockdowns in China, Tesla Sees Decline in Revenue

Photo Credit: Aly Song | Reuters

Tesla sales have decreased, falling below those of the first three months of this year, amid an increase in Covid cases across China. As a response to the rise in Covid cases, Chinese authorities implemented lockdowns that prevented profit from entering.

Since 2020, Tesla had  experienced a record-breaking profit record-breaking until the most recent development.

Tesla made $3.7 billion in revenue during the first quarter, but more recent figures show only $2.6 billion. Additionally, the business brought in $16.9 billion, a 10% decrease from the first quarter’s revenue. Even with these declines, the numbers are still better than they were a year ago.

The numbers provided by Tesla are better than expected, according to analysts from Refinitiv. However, they fall a little short of what the company had hoped for.

Read Also: Home Prices in the US Surge, amid Decreasing Sales

 

Bitcoin investment gave more earnings to Tesla

Additionally, Tesla reported that more than 75% of its bitcoin holdings had been liquidated, nabbing it an additional $936 million in cash. According to CFO Zachary Kirkhorn, the company has benefited greatly from its holdings despite the fluctuating value of Bitcoin in recent months.

Elon Musk, the CEO of Tesla, claims that the company decided to sell some of its bitcoins in order to cover any potential losses resulting from the lockdown of their Shanghai plant.

Musk talked before investors and said, “So it was important for us to maximize our cash position, given the uncertainty of the Covid lockdowns in China. We are certainly open to increasing our bitcoin holdings in the future, so this should not be taken as some verdict on bitcoin.”

Tesla invested $1.5 billion in February of last year, which sparked the company’s interest in Bitcoin holdings. Bitcoin’s value has dropped by 50% so far in 2022.

Investors questioned Musk about the amount of time he could devote to the business and his position at Tesla in the future during the conference call. This comes after the CEO captured media attention as a result of a Twitter deal.

“I’m committed to the long-term,” Musk said to the investors. “I’ll work at Tesla as long as I can usefully advance the cause of sustainability and autonomy.”

Because of the lockdowns instituted by the authorities in the wake of the unexpected rise in Covid cases in recent weeks, Tesla’s Shanghai plant has currently ceased operations. The biggest market in the world for automobiles has also suffered from the lockdowns.

Read Also: SK Group of South Korea will Invest $22 Billion to US, Boost Chipmaking Industry and Clean Energy

 

New plants could help address the problem

The business opened a factory in Germany in March of last year in addition to Texas earlier this year. But other factors have also had an impact on the plants’ ability to produce. Musk revealed that the recently opened plants can only produce a “puny” amount of output because supply chain disruption caused issues among the production team.

The conference call, however, was positive about the two plants. A positive gross margin was achieved during the quarter at the German plant, which “reached an important milestone of producing over 1,000 cars in a single week.”

“But in spite of all these challenges, it was one of the strongest quarters in our history,” said Musk. According to him, Tesla has “the potential for a record-breaking second half of the year.”

“The past [few] years have been quite a few force majeures,” he added.

Tesla wants its sales to rise by more than 50%. Musk expected the company would surpass its goal when the year initially began. In order for this to happen, Tesla would need to boost production by more than 75% in the second half of this year.

Tesla is making every effort to hit its goal, but, according to CFO Kirkhorn, it “has become more difficult, but it remains possible with strong execution.”

Source: CNN

CDC Publishes New Recommendations, Authorities Need to Become Less Strict

Photo Credit: Mike Blake | Reuters

According to the US Centers for Disease Control and Prevention, the nation should abandon its Covid-19 regulations, such as social distancing and quarantine procedures. Instead, the organization advised that the government should now concentrate on resolving the effects of the diseases brought on by the virus.

The social distance rule, one of the extensively used measures to curb the spread of Covid-19, was included in a new guideline published by the CDC last Thursday that outlined their revised recommendations.

This recommendation, which comes from one of the leading health organizations in the nation, is a sign that the US government’s campaign to eradicate COVID-19 is making headway. The US population as a whole has obtained immunity to the virus nearly entirely as a result of the vaccination.

Greta Massetti, the head of the CDC’s Field Epidemiology and Prevention Branch, stated that “the current conditions of this pandemic are very different from those of the last two years.”

“High levels of population immunity due to vaccination and previous infection and the many available tools to protect the general population, and protect people at higher risk, allow us to focus on protecting people from serious illness from Covid-19.”

Read Also: FDA Announced Children Could Now be Administered Monkeypox Vaccine, to Expand Shots Through Intradermal Injection

New guidelines released by the CDC

According to the updated CDC recommendations, routine Covid-19 testing and contact tracing should now only be carried out in high-risk areas. Prisons, nursing homes, and hospitals are some examples of these. It has also reduced a number of quarantine rules, such as the one that lets exposed but Covid-19 negative people stay out of quarantine.

Several portions have not changed, even though the CDC has issued a fresh set of recommendations. For instance, the CDC still recommends that anyone exhibiting symptoms undergo Covid-19 testing. Furthermore, a patient with Covid should stay home for five days and wear a face mask for ten days.

The guidelines for separating those who are afflicted have also changed. Patients who are hospitalized and those with mild symptoms should spend at least ten days inside their homes. Before being released from isolation, people who have impaired immune systems should consult their doctors.

CDC wants to gain public trust

The guidelines established by the CDC indicate that public health authorities have already embraced Covid as a permanent resident of the nations it has impacted. The advised safety precautions may be a step toward allowing the virus to coexist with minimum interference to job and academic endeavors. Others expert, though, disagree with this view.

An infectious disease specialist at the University of California, Dr. Peter Chin-Hong, stated, “I think they just overall come into alignment with what people are doing anyway. What the CDC is, in my opinion, trying to do, they are trying to still be relevant, and maybe when they say something, people will listen to them instead of being completely 180 degrees away from what behavior is anyway.”

Read Also: Ecovocado, the Ecologically Healthy Alternative of Avocado

“I think that this is a point where you actually have to sort of get real and start giving people tools they can use to do something or not. Because otherwise, people will just will not take you seriously,” said an epidemiologist working for Harvard T.H. Chan School of Public Health.

“This revision does not go anywhere near enough to correct the problems of flawed recommendations and lack of evidence,” a cardiologist from the Scripps Research Institute, Dr. Eric Topol, added.

New safety practices announced by the CDC

Practices to stop the spread of Covid-19 and treat it should continue, according to the CDC.

“These recent changes recognize the importance of protecting those most at risk of severe illness, while also standardizing some basic good public health hygiene for the long-term for those less at risk,” said the CEO of the National Association of County and City Health Officials, Lori Tremmel Freeman.

“It’s important that we make it as easy as possible for people to continue to protect themselves and others around them as we live with Covid.”

Source: CNN

Dow and S&P Breaching Stock Market Barriers as Valuation Continues to Climb

Photo by Yiorgos Ntrahas on Unsplash

US stock market traders and investors are experiencing a gold rush as many stocks in the US market continue to hit new barriers. Overall, the Dow Jones and S&P 500 continue to hit historic highs as the US economy experiences a great revival, with many reports of bank earnings on high and more companies reaching significant milestones in the third quarter of 2021.

The three major stock indexes, namely the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, closed on new record highs on the first trading day of the week, Monday, as Wall Street continued on its bullish rally following economic growth prospects and predictions. However, this week, players in the stock market can expect more volatility as big bank earnings reports start on Tuesday, along with crucial inflation data.

One of the biggest winners currently is the Dow Jones market, which includes thirty blue-chip corporations, including Disney, Goldman Sachs, IBM, Coca-Cola, and many more. Last Monday, July 12, 2021, the Dow closed with a 126-point jump, recording a 0.4% end-of-day increase to 34,996, adding to the previous Friday’s all-time high. To date, the index has now pushed up to a gain of 16% this 2021 alone. One of the significant pushes to the index was the release of Disney and Marvel’s latest pandemic streaming film launch, Black Widow, which hit a movie-theater earnings pot of  $80 million and streaming earnings of $60 million throughout the weekend.

On top of the Dow growth, the S&P 500 also jumped to record highs as it added another 0.4% to 4,385 points. Leading the surge were the reported earnings of big banks Morgan Stanley, Goldman Sachs, and JP Morgan, who posted stock gains of 3%, 2.5% and 2%, respectively. The benchmark index has now notched three straight weeks of progress as it has hit new highs despite experiencing chopping trading in the past few weeks.

Nasdaq’s tech-heavy index has also increased by 0.2% and has now also reached up to 16% growth in 2021 alone. S&P 500 has also been on a mid-term uptrend after collectively growing by 18.5% in 2021 to date.

Traders and investors will remember the short-lived drop in the market as the world fell to the COVID-19 pandemic early in 2020. Then, the nation hit economic crunches as many businesses closed and employees lost their jobs due to mandated lockdowns and border closures. Still, the stock market would recover well towards the latter part of 2020. The government would then put measures to reverse the recessive trend, and stocks of corporations that pivoted and thrived during the crisis pushed the stock market upward.

As more earnings reports come out for the remainder of the year, stock market trading experts expect favorable increases. “We ran out of superlatives to describe corporate America’s stunning performance during first-quarter earnings season,” shares one leading Wall Street player, LPL Financial, in a note released on Monday after citing profits that exceeded their initial targets.

More members of Wall Street remain optimistic as more of the economy opens up following increased vaccination efforts across the country and the rest of the world.

As Cities Report Fewer Cases of Monkeypox, CDC Expresses Optimism that the Virus is Slowing Down

Photo Credit: Tami Chappell | Reuters

The US Centers for Disease Control and Prevention is hopeful that the spread of monkeypox is already slowing, with fewer instances of the virus being reported in major cities across the country.

Dr. Rochelle Walensky, the director of the CDC, said, “We’re watching this with cautious optimism and really hopeful that many of our harm-reduction messages and our vaccines are getting out there and working.”

According to Walensky, the number of reported cases of monkeypox in the country continues to rise on a daily basis. However, the outbreak’s pace is decelerating. Since May, the United States has confirmed 17,000 Moneypox-positive individuals; according to the CDC, this figure is higher than in any other country.

New York City, which was hardest hit by the epidemic and had the greatest number of infections recorded daily, is already seeing a significant decline in its daily average. According to the New York City health department, cases have decreased from a daily average of 70 to nine per day.

The city’s health commissioner attributes the drastic reduction in cases to increased Monkeypox vaccinations initiated by many health agencies. This trend has also been influenced by community outreach. There are currently 2,888 Monkeypox cases in New York City.

Chicago, which ranks high with New York in terms of the number of confirmed cases, is also seeing some favorable results from vaccination efforts. According to the Chicago health department, cases decreased from 141 at the end of July to 74 during the last week of August. There are currently 807 reported cases in Chicago.

Read Also: FDA Announced Children Could Now be Administered Monkeypox Vaccine, to Expand Shots Through Intradermal Injection

 

The US still has to be cautious

While the trend is slowing, many health officials recommend taking additional precautions. The country should continue its vaccination efforts in order to completely quash the epidemic.

According to Dr. Allison Arwady, the public health commissioner in Chicago, “We’re not seeing the potentially exponential growth that we were seeing early on, so that is reassuring. Too early to say things look really good, but definitely some signs of slowing of cases.”

The Department of Health and Human Services has informed the public that it has enough vaccines to distribute to high-risk groups, mainly gay and bisexual men. In fact, Dawn O’Connell, the department’s head, stated that high-risk groups would be able to obtain two doses of the Monkeypox vaccine. The CDC estimates that approximately 1.7 million HIV-positive gay and bisexual men are in the highest risk group.

According to O’Connell, the government has already allotted more than 1.5 million Monkeypox vaccines to the states that need them. States would be given an additional 3 million doses after the government secures more doses in a deal with Bavarian Nordic.

According to current statistics, Black and Hispanic men in the United States have been affected by monkeypox. According to the CDC, 30% are white, 32% are Hispanic, and 23% are black. 59% of the population in the United States is White, 19% is Hispanic, and 13% is Black.

Read Also: World Trade Will be Adversely Impacted by China’s Energy Crisis Management as Country Struggles to Find Alternative Resources

 

The Bavarian Nordic vaccine

Jynneos, the vaccine against monkeypox, is manufactured by Bavarian Nordic, the only company approved by the Food and Drug Administration to supply the vaccine to the United States. The vaccine is administered twice via injection into the skin. An individual would have to wait 28 days after getting the first dose before taking the second and final dose.

According to the CDC, the vaccine will not be completely effective against the Monkeypox virus until two weeks after the second dose. CDC Director Walensky stated that 97% of the vaccines administered in the 19 areas were still first doses.

When the virus first intruded the United States, the government had struggled to supply vaccines to health agencies across the country. As people rushed to get the Monkeypox vaccine, supply shortages continued to occur among facilities that administered it. Fortunately, Bavarian Nordic is set to deliver millions more to the national stockpile as part of a new government agreement.

Source: CNBC

Samsung Second Quarter Profits Show Positive Results Despite Low Smartphone Dema

While business has been slow for companies across multiple industries, Samsung Electronics improved profits from April to June to produce excellent results in the second quarter for the first time since 2018.

Despite the inflation, the company has achieved strong sales of memory chips for server customers. As a result, the memory chip and smartphone maker’s shares rose 2.5% after announcing preliminary second-quarter results, while the broader market rose 1.5%.

Samsung reported an operating income of 14 trillion won, or $ 10.7 billion, up 11% from the previous year. In line with estimates, turnover also grew by 21%. The company had a strong quarter during a tough time for chipmakers, which warned of an impending glut of chips from customers stockpiling to meet growing demand from people working from home during the pandemic.

Read also: Sony Presents Two Monitors and Three Headsets In Its Venture Into the PC Gaming Space

Chipmakers like Micron and Advanced Micro Devices report falling demand as inflation weighs on spending.

“Memory chipmakers are expected to build inventory and hike shipments when prices rebound, and demand recovers next year,” said Park Sung-Soon, an analyst at Cape Investment.

Data provider TrendForce reports that prices for some DRAM chips have fallen about 12% over the past month, while NAND flash chip prices are expected to drop 5% between July and September compared to last quarter.

Server chip sales mark the peak of Samsung’s business as inflation, the possibility of a slowdown in key markets, the Russian invasion and the COVID-19 lockdown in China weighed on Samsung phone sales. Additionally, tech companies like Amazon, Google, Alphabet’s Meta and Microsoft have played a crucial role in Samsung’s earnings by buying chips to meet cloud demand.

On the other hand, Foxconn, a Taiwanese electronics supplier and iPhone maker for Apple, recently updated its full-year outlook and expressed optimism for the third quarter.

The value of the US dollar also hit a 20-year high, boosting Samsung’s second-quarter chip gains because the tokens are sold in dollars, which are converted into Korean headquarters figures.

Second-quarter smartphone shipments were estimated at 62-64 million, down 5-8% from the March estimate. In the first quarter, Samsung shipped 74 million smartphones. The drop in demand for smartphones is the result of inflation.

“This trend is the same for major global smartphone makers, although there is variance to some degree,” said Jene Park, Senior analyst at Counterpoint. “In particular, the hit to the demand for low- and mid-end smartphones seems more severe.”

Read also: Samsung to open 80,000 jobs through 2026 amid problematic market conditions