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Virus surges. Get the job done hours plateau. U.S. may well be flattening the wrong curve

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Virus surges. Work hours plateau. U.S. may be flattening the wrong curve

(Reuters) – The U.S. financial restoration showed symptoms of plateauing final week as the place battled climbing coronavirus scenario counts and an increasingly fractured governing administration reaction, in accordance to data from a broad established of business and governing administration sources.

FILE Photograph: A waitress will take the temperature of customers as they get there to try to eat at Dudley’s as eating places are permitted to present al fresco dining as aspect of section 2 reopening throughout the coronavirus disease (COVID-19) outbreak in the Decrease East Side community of Manhattan in New York Metropolis, U.S., June 27, 2020. REUTERS/Andrew Kelly

Indexes measuring the countrywide restoration from the New York Federal Reserve right here Goldman Sachs here and Oxford Economics https://www.oxfordeconomics.com have all largely stalled. Meanwhile actual-time actions of retail foot site visitors www.safegraph.com/dashboard and staff operate several hours joinhomebase.com/info and shifts have flatlined right after continuous progress considering the fact that April spawned optimism for a swift rebound from the recession triggered by the world pandemic.

At the very same time, proof of retrenchment is spreading further than the higher-profile illustrations of Texas, Florida and California, significant condition economies the place initiatives to reopen commerce have been thrown into reverse by clean restrictions to cease the spread of the COVID-19 disease.

Due to the fact the beginning of the combat against the pandemic the purpose has been to “flatten the curve” – this means stem the advancement in bacterial infections. As an alternative, four months in, it might be the completely wrong curve that is flattening as the recovery slows while the virus surges in advance.

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Atlanta Federal Reserve Lender President Raphael Bostic reported on Thursday the early strength of the recovery stunned him, but “the issue is as we have gotten to this place what need to we anticipate moving forward.”

“Real-time evidence indicates there is a bit more reticence in the overall economy,” he explained.

Facts from cellphone monitoring company Unacast in this article as of July 3 confirmed a lot more than half of states observed retail targeted traffic surpass 2019 levels. A 7 days later on the amount had slipped to 11, most of them rural, less-populated areas like Maine and Montana.

For a graphic on Close, reopen, retrench Close, reopen, retrench:

here

In industrial states which include Iowa and Indiana where retail traffic has exceeded 2019 concentrations, case counts are increasing – suggesting there is no clear template still in spot for how to reopen the economic climate in a way that preserves community well being.

“People did have that first impetus to reengage. Now we see a spike in infections and that is likely to set a damper on the restoration,” said Elizabeth Crofoot, a senior economist at the Convention Board, an firm of big firms.

The board released a study this 7 days concluding that U.S. client confidence had been pushed lessen in element by lack of have confidence in in the government’s capability to handle the pandemic, and would most likely continue being “depressed” for a sustained time.

Much more notably, she said “the have confidence in issue, the blended messages from neighborhood federal government, the federal government,” would likely drive people today from the market irrespective of any official limitations imposed or lifted by authorities.

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The very last week place those people combined messages on stark display screen.

As the day-to-day expansion in scenarios ongoing to established records, topping 60,000, the Trump administration was battling with condition and local governments in excess of whether or not to reopen colleges and the adequacy of tests and difficult the trustworthiness of the nation’s best infectious condition skilled.

Approximately than 3.6 million Us residents have now been contaminated and extra than 137,000 have died during the pandemic.

The information is not all grim. Death costs in latest weeks have remained lower when compared with the earliest times of the pandemic, and some argue the country is going by means of a “learning” phase that will see men and women and corporations acquire their personal strategies to cope with the persistence of the illness.

Mask use has turn out to be less stigmatized – Wal-Mart Inc (WMT.N) is earning them necessary as of Monday – and a Cleveland Fed study of 1,141 U.S. individuals in this article published Thursday confirmed just about 90% explained they wore a mask the last time they ended up in a general public indoor house such as a retailer.

In feedback to reporters very last 7 days St. Louis Fed President James Bullard claimed he considered persons and enterprises would adopt means to regulate their life and their companies properly – with masks and social distancing likely to develop into a broadly recognized norm even immediately after months in which they’ve been a subject of political dispute.

“These firms have sturdy incentives to get their earnings streams again,” he said. “They can fake there is not a disorder. They will get punched in the deal with. Personnel get sick. Shoppers get ill … Discovering takes place.”

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Nor is the financial knowledge uniformly terrible. Retail profits jumped 7.5% in June as states lifted coronavirus limitations and summer season arrived.

But even that could be illusory.

A the latest study by the JPMorgan Chase Institute concluded that expanded unemployment gains authorized in response to the pandemic permitted these thrown out of function to basically raise their spending. Those people advantages expire at the finish of this month.

Work, meanwhile, may possibly not be returning fast adequate to choose up the slack. One more 1.3 million persons filed for unemployment below insurance very last week USJOB=ECI, and many states that experienced tried out to aggressively reopen their economies noticed significant jumps in ongoing unemployment statements as virus situations exploded and new constraints had been imposed.

Nationally, knowledge from time administration firm Kronos listed here across a selection of industries confirmed perform shifts for the week ending July 12 declined for the very first time considering the fact that mid-April, excluding the Memorial Working day and July 4 holiday getaway months when some businesses may perhaps have shut or lessened hours.

Reporting by Howard Schneider Modifying by Dan Burns and Andrea Ricci

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Portuguese surfer to stop competing due to mental health issues

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Portuguese surfer to stop competing due to mental health issues

O Surfer Vasco Ribeiro announced this Friday that he will not compete for some time. The athlete justified the decision with his own mental health.

Via social media, Vasco Ribeiro admitted that he had a tiring year when he was forced to seek help.

“I started competing when I was only nine years old and in the first race I started winning. In my career, everything happened very quickly, intensively and successfully, ”he began.

The athlete spoke about the exactingness to the result, which puts pressure on any athlete.

“As long as we’re winning, everything seems easy and we often don’t realize how difficult the life of a high-performing athlete is. one more to manage. I had little desire to do what matters most to me and so it was time to seek professional help to be able one day to fight for my dreams again,” he wrote.

“I decided that the most important thing right now is to focus and invest time in my mental health, because everything else starts with it: stability, family, friends, results, etc. This is my commitment and I have two beautiful daughters , which are my biggest drive and motivation for this new phase,” he added.

Vasco Ribeiro, aged 27, was national champion in various categories, European champion and junior world champion in surfing.

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Daymé Arocena launches samba in Portuguese produced by Kassin

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Daymé Arocena

Daymé Arocena – Dancing and flying

The highlight of the new Cuban afro-jazz scene, singer-songwriter Daimyo of the Arocene dives into samba for the first time with a single entirely in Portuguese. “Dance and Fly” about freedom through art and produced Bag. This is the release from brownswood records.

Listen to “Dance and Fly”: https://daymearocena.lnk.to/DancareVoarPR

Watch the viewer “Dance and fly”: https://youtu.be/QasSLpth5iM

Inspired by the desire to get closer to people during self-isolation, the song became a source of complete joy for the artist. “Dance and Fly” gave me the energy to be happy again, to be positive again, and I will always be grateful for this song. To be able to have this element to cleanse my soul of sadness, because music is like that, music has such power.”says the artist.

Produced between Puerto Rico and Rio de Janeiro, the composition Arocena learned from Cassin, one of the top Brazilian music producers of recent decades, who immersed himself in a samba ballad inspired by artists such as Javan, Lueji Moon, Ed Motta e Gal Costa. The group was formed by Kasin on bass along with great musicians: Danilo Andrade (keyboards), David Moraes (guitar), Alexander Siqueira (drums) and Daniel Conceicao (drums).

With four studio albums in his solo career, Daime, despite being only 30 years old, has already established himself as one of the main names of new Latin American jazz, using his music as an expression of his roots, faith and soul. Currently living in Puerto Rico and inspired by the Caribbean culture, the artist is preparing new releases.

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Subscribe to Arocene Daime: https://www.instagram.com/daymearocena

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“The Portuguese real estate market is still very fragmented, complex and offline,” says Casavo VP Investment.

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“The Portuguese real estate market is still very fragmented, complex and offline,” says Casavo VP Investment.

The real estate market is constantly changing, with increasingly demanding clients and an increasingly limited supply. New technologies have become indispensable tools for companies to use them to grow in this market, which, according to Duarte Ferreira dos Santos, vice president of investment in Lisbon at Casavo, “still remains very fragmented, complex and autonomous” .

In an interview with Executive Digest, Duarte Ferreira dos Santos believes that despite the momentum that the pandemic has given to the digitization of the real estate sector, the real estate industry is still characterized by traditional, autonomous and very dependent on bureaucratic and physical processes. In his opinion, the technological solutions that have emerged in recent years allow streamlining processes, making the real estate market faster, simpler and more uncomplicated, and improving the experience of all stakeholders, whether they are buyers, sellers, landlords, tenants or even real estate agents.

Portuguese real estate market.

“The Portuguese housing market, especially in the Lisbon metropolitan area, has an interesting transactional dimension as a result of the cultural preference to buy a house rather than rent it. In addition, the housing stock in the capital is very old and obsolete, the vast majority of houses were built before the 1980s,” he explains.

To respond to an aging supply, by renovating the houses that Casavo buys, they contribute to refurbishing old buildings in the city and making them more energy efficient.

“The Portuguese real estate market, like other markets in Southern Europe, continues to be very fragmented, complex and autonomous, despite the fact that the pandemic has accelerated the change in customer behavior towards the adoption of a digital channel.” Duarte Ferreira dos Santos believes that much remains to be done in this aspect, namely in the introduction of digital tools to make the market more transparent and improve interaction with buyers and sellers.

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400 million euros for business scaling

Casavo recently raised a new €400 million investment round, which includes a €100 million Series D round and a €300 million credit line.

“The total amount raised by Casavo will be used to scale the business and strengthen its leadership in Europe. This combination of equity and debt is a recognition of our strong growth and investor confidence in our long-term vision. This round will allow us to strengthen our leadership in Europe by growing in markets we already operate in, namely Portugal, Spain and Italy, as well as expanding into new markets where France is a priority.”

A tool that allows you to instantly evaluate real estate

In this context, the VP of Investment explains that Casavo provides a tool that allows sellers to instantly value their property. “Casavo can submit an offer in 48 hours and complete a purchase in a matter of days in a single visit… Through the use of a proprietary algorithm, Casavo ensures that the submitted offer is fair and based on objective criteria.”

On the other hand, for those who want to buy a house, Casavo presents a portfolio of ready-to-live-in properties with high energy efficiency and modern and attractive design, which can be found on the platform and viewed remotely using immersive technology. .

The future of the real estate market in Portugal

Looking to the future, Duarte Ferreira dos Santos believes that “due to the lack of supply of new construction and the high demand caused by the needs of families after the pandemic, we do not expect the market for refurbished homes to be significantly affected by the situation we are facing, especially in homes , prices for which correspond to the income of the Portuguese.

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However, he sees a slowdown that could be due not only to the rise in the cost of living for families associated with the current geopolitical context, but also to the increase in Euribor rates and the new rules that the Bank of Portugal has applied to housing. loans, which can contribute to an increase in the burden of households.

“In our view, it will be increasingly important to refurbish used homes that are outdated and dated to meet the needs of families,” he concludes.

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