German Infection Rate Drops Again as New Cases Hold Steady
Germany’s coronavirus infection rate fell for the third day in a row, while the number of new cases stayed far below the level at the height of the outbreak.
- The reproduction factor — or R value — dropped to 0.66 on Thursday from 0.70 the previous day, according to the latestestimate by the country’s health body, the Robert Koch Institute. It remains well below the levels reached last month, when local outbreaks and increased testing lifted the number as high as 2.88.
- The current estimate means that 100 infected people will likely pass on the virus to a further 66. A number below 1.0 is seen as preventing a second wave of infections.
- There were 302 new cases in the 24 hours through Friday morning, bringing the total to 199,001, according to data from Johns Hopkins University. That’s significantly below the almost 7,000 recorded at the peak of the pandemic in late March.
- There were 11 fatalities, taking the total number of deaths rising to 9,057. The number of deaths caused by the virus has remained under 50 for about six weeks.
- The virus reproduction factor reflects the infection situation about one to two weeks ago, according to the RKI, and reacts sensitively to short-term changes in case numbers, such as those caused by individual outbreaks.
- The RKI also provides a seven-day R value designed to compensate for fluctuations. That value was 0.86 on Thursday, up from 0.83 the previous day.
Senior Plc Now Sees H1 Group Revenue To Be Around 30% Lower Than Last Year – Quick Facts
Senior Plc (SNR.L) said it now expects group revenue in first half of 2020 to be around 30% lower than H1 2019 and consequently, margins to be significantly lower.
Earlier, the company expected Aerospace revenue in 2020 to be around 20% below 2019 levels as a consequence of Boeing’s temporary halt in 737 MAX production and our decision to not renew certain contracts which did not meet Senior Plc’s returns requirements.
Meanwhile, the COVID-19 pandemic has also to severe end market disruption and, as a consequence, the company now sees Aerospace sales in H1 2020 to be around 31% lower than H1 2019. On a quarterly constant currency basis, Aerospace sales are expected to have declined 22% in Q1 and 40% in Q2, year-on-year.
Poseida Therapeutics Prices Upsized IPO Of 14 Mln Shares At $16/Shr
Poseida Therapeutics, Inc. announced the pricing of initial public offering of 14 million shares of common stock at $16.00 per share. The company expects to close the offering on July 14, 2020.
The company has originally filed to sell 10.0 million shares at a range of $14 to $16 share. Earlier on July 9, the company raised the proposed offer shares to 14 million shares at an expected IPO price of $16 per share.
Poseida Therapeutics shares are expected to begin trading on Nasdaq Global Select Market on July 10, under the symbol “PSTX”. The company expects offering gross proceeds, before expenses, to be $224.0 million.
In addition, Poseida has granted the underwriters a 30-day option to buy additional 2.1 million common shares at the initial public offering price less underwriting discounts and commissions.
BofA Securities, Piper Sandler and William Blair are acting as joint book-running managers for the offering.
EU's Michel to propose next budget below 1.1 trln euros – sources
July 10 (Reuters) – European Council President Charles Michel is due to propose the next joint budget for the bloc slightly below the 1.1 trillion euros previously envisaged by the European Commission, sources said as the EU pushes for a deal on COVID-19 economic stimulus.
Michel will make his proposal later on Friday ahead of talks next week between the 27 national EU leaders, who remain deeply at odds over details of the proposed scheme that would also include a 750-billion-euro recovery fund. (Reporting by Gabriela Baczynska, editing by Marine Strauss)
Union Bank reduces MCLR by 20 bps across tenors
The new rates are applicable from July 11.
State-run Union Bank of India on Friday announced reduction in its marginal cost of funds-based lending rate (MCLR) by 20 basis points across tenors.
The new rates are applicable from July 11.
The revised one-year MCLR stands at 7.40% against 7.60% earlier, the bank said in a release.
Three-month and six-month MCLRs have been cut to 7.10% and 7.25%, respectively.
This is the thirteenth consecutive rate cut by the lender since July last year.
The country’s largest lender State Bank of India has also reduced its MCLR by 5-10 basis points (bps) for shorter tenors, effective Friday.
Another state-run Indian Overseas Bank (IOB) has cut its MCLR by up to 25 bps across tenors.
Earlier this week, Canara Bank and Bank of Maharashtra (BoM) also reduced their MCLRs by 10 bps and 20 bps, respectively across all tenors.
Kazakhstan's first-half 2020 GDP drops 1.8% – president
NUR-SULTAN, July 10 (Reuters) – Kazakhstan’s economy shrank 1.8% year-on-year in January to June, President Kassym-Jomart Tokayev told a cabinet meeting on Friday.
Output in the services sector fell 5.6%, Tokayev’s spokesman quoted him as saying on Facebook. (Reporting by Tamara Vaal Writing by Olzhas Auyezov)
Joaquin Castro says stepmother has died of coronavirus
Texas hospitals overwhelmed as coronavirus cases surge
Emergency physician Dr. Diana Fite speaks out.
Rep. Joaquin Castro, D-Texas, said late Thursday that his stepmother had died from the coronavirus.
“My stepmom, Alice Guzman, passed away today from COVID-19,” Castro wrote on Twitter along with a photo of Guzman with Castro’s daughter.”
He said Guzman and his father had been married for 31 years.
“Alice…was a warm, loving person and we’ll miss her incredibly," he added. "My heart goes out to the families who’ve lost loved ones to this terrible illness.”
Cases have surged across the United States with the number of confirmed cases surpassing 3 million Wednesday as states start to reopen businesses.
Castro is a native of San Antonio, Texas, and represents the state’s 20th District, which includes part of San Antonio. The state reported a record 105 deaths Thursday after reporting a record 98 deaths Wednesday. Castro didn’t specify if his stepmother lived in Texas.
Castro's twin brother Julian Castro, former secretary of HUD who ran for president last year, commented: "May she Rest In Peace."