BitGou: Monday Morning Briefing: Florida sets one-day record with over 15,000 new COVID-19 cases

What you need to know about the coronavirus today

Fourth in the world for most new cases
Florida reported a record increase of more than 15,000 new coronavirus cases in 24 hours on Sunday, as the Trump administration renewed its push for schools to reopen and anti-mask protests were planned in Michigan and Missouri. If Florida were a country, it would rank fourth worldwide for the most new daily cases, after the United States, Brazil and India, according to a Reuters analysis. Health officials have pleaded with the public to wear masks to limit the virus spread, but the issue has become politically divisive in the U.S., unlike many other countries with far fewer infections and deaths.

Track the spread of the virus with this state-by-state and county map.

Antiviral drug hope
One in three South Korean patients seriously ill with COVID-19 showed an improvement in their condition after being given Gilead Sciences’ antiviral remdesivir, health authorities said. More research is needed to determine if the improvement was attributable to the drug or other factors such as patients’ immunity and other therapies, they said. Remdesivir has been at the forefront of the global battle against COVID-19 after the intravenously administered medicine helped shorten hospital recovery times in a U.S. clinical trial.

Counting the burials
Long after the funding for his project was frozen, Bilal Endris has kept a lonely watch over cemeteries in Ethiopia’s capital by slipping cash to gravediggers to alert his team to any sudden spikes in burials. In a nation where fewer than 2% of deaths are registered, an increase in burials may be one of the first signs that a killer disease is on the loose. The program was set up to monitor deaths related to HIV/AIDS a decade ago. Now doctor Bilal monitors for a spike in fatalities linked to COVID-19.

Outbreaks on U.S. military bases
Japan and the United States are sharing infection information after about 62 cases at three U.S. military bases from July 7 to Sunday provoked ire in the southernmost prefecture of Okinawa, a top Japanese official said on Monday. “I can’t help but have strong doubts about the U.S. military’s measures to prevent infections,” said Okinawa Governor Denny Tamaki, pointing to reports of personnel leaving base for beach parties and visits to nightlife districts around Independence Day on July 4.

Life after Zoom
Corporate travel agents are using the coronavirus-induced lull in bookings to work with companies on how to get their staff out of Zoom videoconferences and safely back in the air. They are launching new tools to provide on-the-ground information about local mask requirements, social distancing regulations and quarantine rules, as well as details of hotel, airline and ground-transport hygiene.

From Breakingviews - Corona Capital: Failed Chinese M&A, UK retailers. Bank of China pulls out of a takeover of Ireland’s Goodbody Stockbrokers and Primark and John Lewis announce they’re passing up state bonuses for retaining furloughed staff. Catch up with the latest financial insights.

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Emerging from lockdown

About 60 U.S. universities on Sunday filed a brief supporting a lawsuit by two others, seeking to block a Trump administration rule barring foreign students from remaining in the country if educational institutions don’t hold in-person classes this fall. The lawsuit was filed by Harvard University and MIT on Wednesday in a federal court in Boston.

A Texas man who waited until his brain tumor was softball-sized; a baby who suffered an ear infection for six days; a heart patient who died: the resurgence of COVID-19 is creating another health crisis as hospitals fill and patients are fearful or unable to get non-emergency care. With U.S. coronavirus infections reaching new heights, doctors and hospitals say they are also seeing sharp declines in patients seeking routine medical care and screenings.

China announced “corresponding sanctions” against the United States on Monday after Washington penalized senior Chinese officials over the treatment of minority Uighur Muslims in the western region of Xinjiang. China’s move comes as relations between the world’s two biggest economic powerhouses have slumped over disagreements on issues including the coronavirus pandemic, trade, Huawei and a sweeping national security law imposed on Hong Kong.

COVID Science

Glenmark Pharmaceuticals said it would lower the price of its generic version of favipiravir, FabiFlu, to 75 rupees ($0.99) per tablet for restricted emergency use in patients with mild-to-moderate COVID-19 symptoms in India. Glenmark last month received Indian regulatory approval to make and sell anti-flu drug favipiravir, which is manufactured under the brand name Avigan by a unit of Japan’s Fujifilm Holdings.

Follow the money

Federal Reserve's $3 trillion virus rescue inflates market bubbles

The Federal Reserve’s $3 trillion bid to stave off an economic crisis in the wake of the coronavirus outbreak is fuelling excesses across U.S. capital markets. The U.S. central bank has pledged unlimited financial asset purchases to sustain market liquidity, increasing its balance sheet from $4.2 trillion in February to $7 trillion.

5 min read

Exclusive: U.S. turns screws on maritime industry to cut off Venezuela's oil

Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the Latin American country.

7 min read

Deals

Chipmaker Analog Devices to buy Maxim Integrated for $20.91 billion

U.S. semiconductor maker Analog Devices said it offered to buy Maxim Integrated Products Inc, an industry peer, for $20.91 billion in an all-stock deal.

1 min read