BitGou: Monday Morning Briefing: Positive COVID-19 test rates top 25% in some U.S. Midwest states

What you need to know about the coronavirus today

Positive test rates top 25% in some U.S. states
The number of tests coming back positive for COVID-19 is topping 25% in several states in the U.S. Midwest as cases and hospitalizations also surge in the region, according to a Reuters analysis.

North Dakota’s positive test rate has averaged 30% over the past seven days compared with 6% the prior week. The rate has risen to 26% in South Dakota from 17% the previous week, according to the analysis using testing data from The COVID Tracking Project.

Minnesota and Montana are averaging 7% of tests coming back positive, but Montana’s positivity rate rose on Sunday to 20%, according to the analysis.

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

Herd immunity hopes dashed in Brazil
The largest city in Brazil’s Amazon has closed bars and river beaches to contain a fresh surge of coronavirus cases, a trend that may dash theories that Manaus was one of the world’s first places to reach collective, or herd, immunity. University of Sao Paulo researchers suggested that a drastic fall in COVID-19 deaths in Manaus pointed to collective immunity at work, but they also believe that antibodies to the disease after infection may not last more than a few months.

Travel rebound in China
China expects a significant rebound in domestic travel over the upcoming Golden Week holiday after the sector was pummeled by the coronavirus for months, with some flights selling out and travel platforms reporting a surge in hotel bookings. The pent-up demand is fueling optimism the Chinese travel industry has reached a turning point, with hopes the eight-day holiday from Oct. 1 will supercharge a tentative pickup seen in recent months, even as some trepidation over the virus lingers.

Open for Christmas
Australia’s city of Melbourne, its hotspot in the second wave of coronavirus infections, is on track to return to near normal by Christmas, strengthening hopes for major summer sporting events to go ahead amid a general economic revival. Southeastern Victoria state recorded a single digit rise in new cases for the first time in three months on Monday, with the lifting of some of the toughest curbs in its capital of Melbourne, such as a night-time curfew, Premier Daniel Andrews said.

UK eyes tougher restrictions
The British government is mulling tougher restrictions in England to tackle a swiftly accelerating second wave of the coronavirus outbreak, possibly outlawing more inter-household socializing. “We don’t want to bring on new restrictions but of course we keep a constant eye on what is going on with the COVID rate,” Junior Health Minister Helen Whately told Sky News. “We were looking at what we might be able to do.”

The spread
COVID-19 infections are still rising in 60 countries and there have been over 32,960,000 reported infections. Track the daily global statistics.

From Breakingviews - Corona Capital: Commerz boss, Betting, China cars. Read concise views on the pandemic’s financial fallout from Breakingviews columnists across the globe.

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Politics

Picking a presidential stock portfolio: The Nov. 3 presidential election between President Donald and Joe Biden could have dramatic effects across markets, and investors are already trying to identify potential winners and losers.

From Kennedy-Nixon to Trump-Biden: Trump and Biden face off on Tuesday in a televised presidential debate, part of a 60-year-old tradition marked by some of the most memorable moments of modern U.S. political history. With five weeks to go until the Nov. 3 general election, the stakes are high. Here are five things to watch for during the 90-minute debate in Cleveland.

President Trump paid just $750 in federal income taxes in both 2016 and 2017, after years of reporting heavy losses from his business enterprises to offset hundreds of millions of dollars in income, the New York Times reported on Sunday, citing tax-return data.

Trump’s nominee to the Supreme Court, Amy Coney Barrett, will begin meeting with senators this week as Republicans push ahead with a rapid Senate confirmation process ahead of November’s presidential election over the objections of Democrats.

Business

'Take home' lawsuits over COVID infections could be costly for U.S. employers

U.S. businesses with COVID-19 outbreaks are facing an emerging legal threat from claims that workers brought coronavirus home and infected relatives, which one risk analysis firm said could cost employers billions of dollars.

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Uber wins back London licence despite 'historical failings'

Uber has won a legal bid to restore its London operating license which was taken away by the city’s transport regulator over safety concerns, after a judge on Monday decided that it was a fit and proper operator. The association representing London black cab drivers said a judge’s decision to restore Uber’s operating license was a “disaster” for the British capital.

3 min read

Australia's Piedmont signs lithium ore supply deal with Tesla, shares surge

Piedmont Lithium said it signed a five-year deal with Tesla to supply high-purity lithium ore mineral to the U.S. electric carmaker, prompting an 83% surge in the Australian lithium miner's shares.

2 min read

Investors swamp IPO for K-Pop band BTS management label, prices at top of range

Big Hit Entertainment, the management label of hugely popular South Korean K-Pop group BTS, priced its initial public offering at the top of its range, as hopeful buyers chased South Korea’s largest listing in three years.

3 min read