California universities sued for reimbursements related to coronavirus – Telemundo Denver

Students from the California State University and University of California systems filed a lawsuit against to demand reimbursements of some campus fees since the virus pandemic closed schools and forced online learning.

The class action lawsuits, filed in the federal courts in Los Angeles and Oakland, allege that systems serving more than 700,000 students have refused to reimburse unused portions of fees for campus-related services that semester students spring are not using, such as health centers, student association fees and student centers.

The campuses have been closed since March due to the COVID-19 outbreak and sporting events have been canceled.

“The effect of CSU’s COVID-19-related protocols and messages is that all students have been forced to leave campus, unless they really have no other safe place to go,” the Los Angeles lawsuit says.

“For students who remain on campus, services are now extremely limited. For students who do not live on campus, there is no reason to come to campus, as all activities have been canceled. ”

Messages seeking comment from both systems were not immediately returned Monday night.

Fees ranged from around $ 850 to more than $ 4,000 for CSU students for the 2019-2020 academic year, while UC’s basic services fee for students was around $ 1,100, while fees related to specific campuses doubled that or more, depending on demand.

Medical students from California State University help inform the community in their own language.

“It is inappropriate for them to attempt to withhold what amounts to many millions of dollars in total on the campus fees they charged their students, despite the termination of the services that covered these fees,” said Adam Levitt, one of the attorneys who they filed the lawsuits.

“A college education is already a monumental expense for students and their families, and essentially not offering them relief on these material expenses, particularly at a time when millions of Americans are struggling financially, not only is deaf, but also unfair and illegal” .

Similar lawsuits were previously filed against universities in Arizona and against Liberty University, a nonprofit evangelical Christian university in Virginia.

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several tests show a harmful effect of chloroquine

“The latest work which has been published and validated is not, unfortunately, in favor of the use in current practice of this treatment in mono or bitherapy”, announced the Minister of Health Olivier Véran, Wednesday, April 22, during questions to the government, to the Senate. What was he talking about? Chloroquine of course. More specifically, its derivative, better tolerated by the human organism, hydroxychloroquine.

Questionable Chinese and Marseilles essays

From the start of the Covid-19 epidemic, chloroquine was one of thousands of molecules screened by Chinese pharmacologists on the lookout for drugs that could suppress the action of the Sars-Cov-2 virus. Chloroquine, made from quinine in cinchona bark, is a very old remedy for fighting the malaria parasite.

→ LIVE. Coronavirus: the latest information and France and worldwide

In France, since the end of February, it has been the subject of scientific controversy, then of a media controversy, following the declarations of Didier Raoult, professor of infectious diseases at the IHU in Marseille. According to his first essay, published on February 19, 2020 in BioScience Trends, chloroquine may lower the viral load in Covid-19 + patients at the start of their illness. To be precise, in this trial, chloroquine was accompanied by an antibiotic (azithromycin), which also had virucidal and anti-inflammatory properties.

Quickly, scientists criticized his method, the absence of a control batch in particular, they reported that chloroquine could cause heart rhythm disorders and concluded that this drug could not be considered to be effective against this coronavirus (1).

Negative European and North American opinions

Since then, dozens of infectious disease departments around the world, particularly in the United States with the support of Donald Trump, in Morocco, in Senegal … have been trying to treat their Covid + patients with one or both molecules. And with mostly negative results, according to the information available.

→ READ. Coronavirus: Chloroquine Tears Family Physicians

In the United States, the results, published Tuesday, April 21, of the largest study to date, funded by the United States government, have shown no benefit of hydroxychloroquine against the disease compared to standard treatment. On the contrary, it revealed an excess mortality with the use of hydroxychloroquine, alone or associated with azithromycin.

High heart risk

And on Thursday, April 23, the European Medicines Agency (EMA) said in a statement that the potentially beneficial effects of chloroquine and hydroxychloroquine did not “Not yet been demonstrated”. Alerting on the contrary on of “Serious, and in some cases fatal, heart rhythm problems with chloroquine and hydroxychloroquine, especially taken in high doses or in combination with the antibiotic azithromycin”.

These treatments are also likely to cause liver and kidney problems, damage nerve cells, and cause seizures and hypoglycemia, the agency said.

New, more rigorous research

In the meantime, in France, numerous clinical trials based on chloroquine, with a more rigorous protocol than that of Marseille, are in progress. In particular in various French hospitals (Bichat, Pitié, Angers, etc.) as part of the Reacting study by Inserm, a stakeholder in the European study Discovery.

They are carried out with 800 hospitalized and seriously ill patients, which is a real difference compared to the Marseille protocol. The first results should not fall until the end of May, according to Florence Ader, professor of pulmonology in Lyon and coordinator of Discovery for France.

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Prosecutors warn that being affected by an ERTE means having ‘two payers’ in the income statement | My rights

The nearly four million workers affected by an ERTE from Covid-19 could be scared next year when they file their income tax returns. The reason is that, for tax purposes, they will have two payers in the 2020 personal income tax campaign, with the practical consequences that this usually has. The first problem is that, surely, they will have to present the declaration, even when their income does not exceed the legal limit; the second is that it will probably pay you. Experts warn about this issue, which may have gone unnoticed by many workers who have been forced into an ERTE.

Changing jobs, combining jobs or becoming unemployed are the usual situations in which workers receive income from two or more payers in the same year. This circumstance influences, in the first place, the tax obligations of the taxpayer, and, furthermore, may affect the result of the tax return at the time of its presentation.

When is there a second payer?

As a general rule, explains Marcos Escoda, a tax expert at Marimón Abogados, it is considered that there are two or more payers for tax purposes “when income is received from entities that have different tax identification numbers (NIF).”

Unemployment benefit is, like payroll, income from job performance, and Social Security is considered one more payer for tax purposes. This same rule applies to benefits received by workers at ERTE. As confirmed by Miguel Ángel Galán, partner of Andersen Tax & Legal, “if SEPE or another public body satisfies us with any remuneration, it is considered to be a payer for personal income tax purposes”.

Other cases in which the Administration becomes a second payer are, for example, when the worker retires once the year has started, or when he receives the benefits of FOGASA (Salary Guarantee Fund) because his company is insolvent.

They will have an obligation to declare

Having been affected by an ERTE by Covid-19, it can suppose that a worker who, under normal conditions would be exempt from filing the income tax return, has to fill it out. Without taking into account other assumptions, the law establishes that there is only an obligation with the treasury if 22,000 euros or more are paid as income from work during the year. However, this limit drops to 14,000 euros when the worker has collected from two or more different payers, and, in addition, the amount paid by the second (and other payers) exceeds 1,500 euros.

It is relatively easy, therefore, that those workers who have been for two or three months in an ERTE have an obligation to file the income tax next year despite having an income of less than 22,000 euros.

Income result

One of the most common problems of having two or more payers in the year is that the result of the income statement returns positive numbers. It is quite frequent in cases of receipt of wages and unemployment or other benefits during the same tax period. “You have to see the specific case, but yes, it could go out and pay,” Galán predicts regarding the workers at ERTE.

Having two or more payers does not imply having to pay more personal income tax, but it can mean that an adjustment must be made with the treasury when the return is filed. In the end, the result depends, among other things, on whether the employer has withheld the appropriate percentage in anticipation of payment of the tax on the worker’s payroll.

The issue is that the second or subsequent payers calculate the withholding that they apply to the payroll based on the compensation they will pay until December 31. By not taking into account everything that the worker receives throughout the year, they will normally have a lower withholding rate than would be the case if all that had been previously charged was taken into account, explains Leandro Sequeiros, a partner at Lean Abogados.

As the SEPE (Public State Employment Service) applies a minimum withholding on the money paid to workers in unemployment or in ERTE, it is probable that the amounts not withheld will have to be adjusted with the Treasury at the time of making the income statement , that is to say, that this one leaves to pay.

Unless a new type of withholding is communicated to the new employer that takes into account what he has earned up to that date and what he will earn from then until December 31, explains Sequeiros, “the normal thing is that you go out to pay in the statement of income”.

However, Galán points out, we must not lose sight of the fact that, in the end, the same taxes are paid for the same income. It is, he explains, “a matter of liquidity and financial effect”, what is known in tax law and economics as the theory of financial illusion.

Can I stop him from paying me?

Regardless of the circumstances of each taxpayer, workers who receive income from two or more payers can ensure that this fact does not harm them in their income statement.

One way to avoid the consequences of applying a lower withholding on this income is to request the second payer to modify the rate. According to Sequeiros, there are specific forms, depending on the administration from which the income comes, through which a type of voluntary withholding higher than that calculated by the administration itself can be communicated.

However, the new type of withholding requested will apply, at least until the end of the year. In addition, it will remain in force in subsequent years if it is not waived in writing or another superior is requested. On the other hand, if, finally, the statement comes out, it is important to remember that the Treasury allows the personal income tax to be divided into two payments.

Solutions proposal

The possible negative tax consequences of being included in an ERTE have not gone unnoticed by the tax advisers, who have submitted their proposals in this regard.

The Spanish Association of Tax Advisers (AEDAF) circulated a note a few days ago proposing that these incomes be exempt for, they explained, “trying to ensure the liquidity of these people who see their income reduced to 75% of the contribution base.” On the other hand, they advocated establishing an express exception so that the application of the ERTE did not suppose the existence of two payers for the purposes of the tax, and thus avoid that many taxpayers have the obligation to file a declaration in addition to the withholding adjustment problem.

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The economic debacle of the coronavirus in graphics | Economy

The paralysis of air traffic, especially commercial flights, is a direct consequence of the coronavirus pandemic, which has confined more than a third of the world population. In the first four months of the year, world traffic has fallen by 60%, according to Eurocontrol. This decrease has been especially pronounced in the European Union, where the number of flights has been reduced by 88% on average, according to the same data. In Spain, the reduction is almost 95%. The pandemic has also affected maritime traffic, which began to notice the first declines in late January, especially since China accounts for a third of global container traffic. In fact, in the first two months of the year, the Asian giant’s international trade fell 9.6% year-on-year, according to data published by the country’s General Administration of Customs.


Global air traffic falls into

the first four months of 2020

WHO declares

the pandemic

On January 9 they registered 185,552 flights *; on April 15, 74,954

* Commercial passenger, cargo, private, helicopter, drone, military, government and health flights.

Flights are reduced in Spain

Fall in April from the previous year

WHO declares

the pandemic

On March 12 flights decreased in Spain a 10.5%; on the 17th, a 43.7%, and since March 28 the fall exceeds the 90%

Airports empty

in Madrid and Barcelona

WHO declares

the pandemic

Flight drop compared to 2019.

March 1: Madrid-Barajas, 4.4%; Barcelona-El Prat, 0.8; April 15: Barajas, 93%; El Prat, 96%

Global air traffic falls into

the first four months of 2020

WHO declares

the pandemic

On January 9 they registered 185,552 flights *; on April 15, 74,954

* Commercial passenger, cargo, private, helicopter, drone, military, government and health flights.

Flights are reduced in Spain

Fall in April from the previous year

WHO declares

the pandemic

On March 12 flights decreased in Spain a 10.5%; on the 17th, a 43.7%, and since March 28 the fall exceeds the 90%

Airports empty

in Madrid and Barcelona

WHO declares

the pandemic

Flight drop compared to 2019.

March 1: Madrid-Barajas, 4.4%; Barcelona-El Prat, 0.8; April 15: Barajas, 93%; El Prat, 96%

Global air traffic falls into

the first four months of 2020

Flights are reduced in Spain

Fall in April from the previous year

WHO declares

the pandemic

WHO declares

the pandemic

On January 9 they registered 185,552 flights *; on April 15, 74,954

On March 12 flights decreased in Spain a 10.5%; on the 17th, a 43.7%, and since March 28 the fall exceeds the 90%

* Commercial passenger, cargo, private, helicopter, drone, military, government and health flights.

Airports empty

in Madrid and Barcelona

WHO declares

the pandemic

Flight drop compared to 2019.

March 1: Madrid-Barajas, 4.4%; Barcelona-El Prat, 0.8; April 15: Barajas, 93%; El Prat, 96%

Global air traffic falls into

the first four months of 2020

Flights are reduced in Spain

Airports empty

in Madrid and Barcelona

Fall in April from the previous year

WHO declares

the pandemic

WHO declares

the pandemic

WHO declares

the pandemic

On January 9 they registered 185,552 flights *; on April 15, 74,954

On March 12 flights decreased in Spain a 10.5%; on the 17th, a 43.7%, and since March 28 the fall exceeds the 90%

Flight drop compared to 2019.

March 1: Madrid-Barajas, 4.4%; Barcelona-El Prat, 0.8; April 15: Barajas, 93%; El Prat, 96%

* Commercial passenger, cargo, private, helicopter, drone, military, government and health flights.

The confinement of citizens in their homes has also had an impact on road traffic, which has experienced a notable decrease, visible daily on the streets of any city. Last Friday, private car traffic in Madrid and Barcelona was around 65% lower compared to a February business day. These are the last images available today, April 17th.

Press to see the most recent images

Madrid

Plaza de Cibeles

Plaza de Cibeles

Puerta de Alcalá

Puerta de Alcalá

Columbus Square

Columbus Square

Barcelona

Ramblas and Columbus monument

Ramblas and Columbus monument

Plaça Urquinaona

Plaça Urquinaona

Plaça Antonio López

Plaça Antonio López

Empty streets have in turn influenced air quality. According to data compiled by Ecologists in Action, the average of gas emissions from traffic during the month of March was 55% lower than the average for the last period.

Blow to the job

Coronavirus has had a devastating effect on the labor market. Since the closure of the schools was announced on March 9, until the end of the month, Social Security lost more than 800,000 members, leaving a total of 19 million the number of contributors. It is the same number of people who stopped trading between October 2, 2008 and February 27, 2009, the period considered as the zero zone of the Great Recession caused by the Lehman Brothers bankruptcy. The number of unemployed rose in the same period by 302,265, according to data from the Ministries of Labor and Social Security. In addition, 3.5 million workers have been affected by an ERTE, double that between 2009 and 2019.


The effects of the coronavirus

shoots the total of unemployed

In February, 3,246,047 unemployed; in March, 3,548,312

Source: Ministry of Labor.

The increase in March more than 300,000 unemployed is the largest since 2010

Source: Ministry of Labor.

Workers descend

in Social Security

The average number of members in February was 19,250,229; in March, 19,006,760

Source: Ministry of Labor.

Membership drop in March

Regarding February (last day of the month)

The lost of 833,979 jobs is the worst figure in the statistical series.

Source: Ministry of Labor.

The effects of the coronavirus

shoots the total of unemployed

In February, 3,246,047 unemployed; in March, 3,548,312

Source: Ministry of Labor.

The increase in March more than 300,000 unemployed is the largest since 2010

Source: Ministry of Labor.

Workers descend

in Social Security

The average number of members in February was 19,250,229; in March, 19,006,760

Source: Ministry of Labor.

Membership drop in March

Regarding February (last day of the month)

The lost of 833,979 jobs is the worst figure in the statistical series.

Source: Ministry of Labor.

The effects of the coronavirus

shoots the total of unemployed

In February, 3,246,047 unemployed; in March, 3,548,312

The increase in March more than 300,000 unemployed is the largest since 2010

Source: Ministry of Labor.

Source: Ministry of Labor.

Workers descend

in Social Security

Membership drop in March

Regarding February (last day of the month)

The average number of members in February was 19,250,229; in March, 19,006,760

The lost of 833,979 jobs is the worst figure in the statistical series.

Source: Ministry of Labor.

Source: Ministry of Labor.

The effects of the coronavirus

shoots the total of unemployed

Workers descend

in Social Security

Membership drop in March

Regarding February (last day of the month)

In February, 3,246,047 unemployed; in March, 3,548,312

The increase in March more than 300,000 unemployed is the largest since 2010

The average number of members in February was 19,250,229; in March, 19,006,760

The lost of 833,979 jobs is the worst figure in the statistical series.

Source: Ministry of Labor.

Source: Ministry of Labor.

Source: Ministry of Labor.

Source: Ministry of Labor.

And if the effects during the first weeks of confinement have been devastating, the forecasts are not hopeful. The IMF predicts that Spain concludes 2020 with 20.8% unemployed.

The sectors

Although it is premature to estimate the economic losses from the coronavirus pandemic, the comparison with the 2003 SARS epidemic predicts devastating consequences. Then, the virus, which sickened more than 8,000 people and killed 774, caused worldwide losses of between 35,000 and 50,000 million euros, according to different analyzes. SARS-CoV-2 has already affected more than two million people in four months and has killed more than 150,000. Tourism, hospitality, commerce or the automotive sector are among the most affected sectors – although there are many more. This is the decline they have suffered during the crisis:


The fall of tourism

planned for 2020

In the case of a scenario without activity in establishments dedicated to tourism between April and June.

Biggest decrease in tourism activity in 2020: Balearic Islands -41%

Billing of the sector

of the hospitality industry

Expected fall after the closure of establishments.

Billing planned for

2020 before the health crisis

124,000

millions of euros

After the closing of

establishments

-40,000

millions of euros

After the closing of

establishments

-30% / – 40%

Bars, restaurants and accommodation: 314,000; workers: 1,700,000

Source: Hospitality of Spain / B & C and EY.

The sale of cars falls

at a level never recorded

Vehicle registration in March

Car registration. March 2019: 122,659; March 2020: 37,644

Lower electricity consumption

that in March 2019

March 23 (second

week of confinement)

April 6 (second week of

paralysis of non-essential activities)

Source: Red Eléctrica Española (REE).

The fall of tourism

planned for 2020

In the case of a scenario without activity in establishments dedicated to tourism between April and June.

Biggest decrease in tourism activity in 2020: Balearic Islands -41%

Billing of the sector

of the hospitality industry

Expected fall after the closure of establishments.

Billing planned for

2020 before the health crisis

124,000

millions of euros

After the closing of

establishments

-40,000

millions of euros

After the closing of

establishments

-30% / – 40%

Bars, restaurants and accommodation: 314,000; workers: 1,700,000

Source: Hospitality of Spain / B & C and EY.

The sale of cars falls

at a level never recorded

Vehicle registration in March

Car registration. March 2019: 122,659; March 2020: 37,644

Lower electricity consumption

that in March 2019

March 23 (second

week of confinement)

April 6 (second week of

paralysis of non-essential activities)

Source: Red Eléctrica Española (REE).

The fall of tourism

planned for 2020

Billing of the sector

of the hospitality industry

In the case of a scenario without activity in establishments dedicated to tourism between April and June.

Expected fall after the closure of establishments.

Billing planned for

2020 before the health crisis

124,000

millions of euros

After the closing of

establishments

-40,000

millions of euros

After the closing of

establishments

-30% / – 40%

Biggest decrease in tourism activity in 2020: Balearic Islands -41%

Bars, restaurants and accommodation: 314,000; workers: 1,700,000

Source: Hospitality of Spain / B & C and EY.

The sale of cars falls

at a level never recorded

Lower electricity consumption

that in March 2019

Vehicle registration in March

March 23 (second

week of confinement)

April 6 (second week of

paralysis of non-essential activities)

Car registration. March 2019: 122,659; March 2020: 37,644

Source: Red Eléctrica Española (REE).

The fall of tourism

planned for 2020

Billing of the sector

of the hospitality industry

The sale of cars falls

at a level never recorded

Lower electricity consumption

that in March 2019

In the case of a scenario without activity in establishments dedicated to tourism between April and June.

Expected fall after the closure of establishments.

Vehicle registration in March

Billing planned for

2020 before the health crisis

124,000

millions of euros

After the closing of

establishments

-40,000

millions of euros

After the closing of

establishments

-30% / – 40%

March 23 (second

week of confinement)

April 6 (second week of

paralysis of non-essential activities)

Biggest decrease in tourism activity in 2020: Balearic Islands -41%

Bars, restaurants and accommodation: 314,000; workers: 1,700,000

Car registration. March 2019: 122,659; March 2020: 37,644

Source: Hospitality of Spain / B & C and EY.

Source: Red Eléctrica Española (REE).

Work has already announced that it is studying increasing ERTE force majeure in the sectors most affected by the crisis. In addition, the resumption of activity in Spain, once the covid-19 epidemic allows it, will be carried out in two stages: the first will affect the productive sectors and will take place until the summer, and the second will include the sectors most affected by the crisis and will last until the end of the year, which means that, according to government forecasts, sectors such as tourism or hospitality will take months to recover.

The reaction of the markets

Stock market losses from the coronavirus total hundreds of billions. Although stimulus from governments and central banks has slightly slowed the decline, investors’ fear of the collapse of companies has hit the main parquets hard:


The Ibex 35

falls to zone

minimum

Brusque

fall of the

Dow Jones

2/19/2020: 10,083 Max.

03-16-2020: 6,107 Min.

12-2-2020: 29,551 Max.

03-23-2020: 18,591 Min.

Evolution of

the cousin of

risk

The oil,

in minima

20 years

Dollars per barrel Brent

6-1-2020: 68.91 Max.

3-31-2020: 22.74 Min.

3-18-2020: 146.3 Max.

03-26-2020: 84.0 Min.

Gold scales

as active

refuge

04-14-2020: 1,768 Max.

03-16-2020: 1,461 Min.

The Ibex 35

falls to zone

minimum

Brusque

fall of the

Dow Jones

2/19/2020: 10,083 Max.

03-16-2020: 6,107 Min.

12-2-2020: 29,551 Max.

03-23-2020: 18,591 Min.

Evolution of

the cousin of

risk

The oil,

in minima

20 years

Dollars per barrel Brent

6-1-2020: 68.91 Max.

3-31-2020: 22.74 Min.

3-18-2020: 146.3 Max.

03-26-2020: 84.0 Min.

Gold scales

as active

refuge

04-14-2020: 1,768 Max.

03-16-2020: 1,461 Min.

The Ibex 35

falls to zone

minimum

Brusque

fall of the

Dow Jones

Evolution of

the cousin of

risk

2/19/2020: 10,083 Max.

03-16-2020: 6,107 Min.

12-2-2020: 29,551 Max.

03-23-2020: 18,591 Min.

3-18-2020: 146.3 Max.

03-26-2020: 84.0 Min.

The oil,

in minima

20 years

Gold scales

as active

refuge

Dollars per barrel Brent

6-1-2020: 68.91 Max.

3-31-2020: 22.74 Min.

04-14-2020: 1,768 Max.

03-16-2020: 1,461 Min.

The Ibex 35

falls to zone

minimum

Brusque

fall of the

Dow Jones

Evolution of

the cousin of

risk

The oil,

in minima

20 years

Gold scales

as active

refuge

Dollars per barrel Brent

2/19/2020: 10,083 Max.

03-16-2020: 6,107 Min.

12-2-2020: 29,551 Max.

03-23-2020: 18,591 Min.

3-18-2020: 146.3 Max.

03-26-2020: 84.0 Min.

6-1-2020: 68.91 Max.

3-31-2020: 22.74 Min.

04-14-2020: 1,768 Max.

03-16-2020: 1,461 Min.

However, with positive prospects, the Stock Exchange rebounds to the upside. This is what happened after the presentation by the President of the United States, Donald Trump, of a plan to resume the country’s activity in mid-June.

Forecasts: it can still get worse

The most optimistic scenario of the IMF foresees a fall in GDP in Spain of 8%, the worst in its recent history, as long as there are no delays in containing the pandemic or a flare-up that confines part of the planet again. But it is not the only negative indicator. The collapse of fuels – exacerbated by the recently resolved conflict between Russia and Saudi Arabia – and light has brought the CPI to 0%, a figure that has not decreased since August 2016 – the forecast is that it will close the year in -0.3% -. These are some of the apocalyptic economic indicators left by the coronavirus crisis.


Inflation

will close the year

at negative rate

The economy

Spanish is

will collapse

this year

Breaks the

trend of

six years of

I stop on the downside

* IMF forecast

(2020 and 2021)

Source: Ministry

of the Treasury.

* IMF forecast

(2020 and 2021)

Source: Bank

from Spain.

Inflation

will close the year

at negative rate

The economy

Spanish is

will collapse

this year

Breaks the

trend of

six years of

I stop on the downside

* IMF forecast

(2020 and 2021)

Source: Ministry

of the Treasury.

* IMF forecast

(2020 and 2021)

Source: Bank

from Spain.

The economy

Spanish is

will collapse

this year

Inflation

will close the year

at negative rate

Breaks the

trend of

six years of

I stop on the downside

* IMF forecast

(2020 and 2021)

* IMF forecast

(2020 and 2021)

Source: Ministry

of the Treasury.

Source: Bank

from Spain.

The economy

Spanish is

will collapse

this year

Inflation

will close the year

at negative rate

Breaks the

trend of

six years of

I stop on the downside

* IMF forecast

(2020 and 2021)

* IMF forecast

(2020 and 2021)

Source: Ministry

of the Treasury.

Source: Bank

from Spain.

.

Coronavirus: The IMF warns of three scenarios in which the crisis will be even worse | Economy

An 8% drop in GDP in Spain and the deepest global crisis since the Great Depression a century ago. It looks like an economic catastrophe. And yet, that is rather the optimistic scenario drawn by the International Monetary Fund for the coronavirus pandemic. The agency warns that it contemplates three alternative scenarios in which the economic crisis would be even more serious, with devastating effects.

Those scenarios are three. The first, a delay in containing the pandemic. The second, a regrowth in 2021. And the third, both, the delay and the regrowth.

In its central scenario, the IMF expects the pandemic to die down in the second half of 2020 and that containment measures will be gradually withdrawn. This scenario contemplates that the confinements be concentrated in the second quarter, with a gradual recovery or subsequent de-escalation.

However, if the containment of the pandemic lasted 50% longer than expected by the IMF in its baseline scenario, the impact on the global economy would be three additional points. The drop in world activity would not be 3% this year, but 6% and the rebound in 2021 would also be less. This scenario would imply an increase in risk premiums and a tightening of financial conditions.

In the second alternative scenario, the pandemic is contained within the planned calendar this year, but there is a re-emergence in 2021. This year the forecast fall will not vary, but in 2021 the effect would be very damaging. The relapse would cost an additional five points of GDP in that year and another three in 2022, so that the rebound in the economy next year would lose almost all its strength.

The worst alternative scenario is the third, which combines the previous two: a delay in containing the current outbreak in 2020 and a relapse in 2021. In this case, GDP would fall twice this year (around 6%). ) and next year it would worsen another eight points with respect to the base scenario. From 2022 to 2024 they would lose around another 10-12 points of GDP in total compared to the baseline scenario.

In all three scenarios, but especially in the third, there would be strong increases in public spending, deficits, and debt. And everything could be complicated by the increase in risk premiums or by the lack of stimuli in view of the risk that risk premiums will rise.

One consolation remains: there is also an optimistic scenario. If an effective vaccine or therapy were obtained earlier than expected, social distancing measures could be eliminated and recovery would be faster.

.

Astrazeneca tests the effect of cancer medicine on COVID-19 | 04/14/20

LONDON (Dow Jones) – Pharmaceutical company Astrazeneca also plans to use its blood cancer drug Calquence to treat Covid-19. For this purpose, the company now wants to test it on critically ill patients with an overreaction of the immune system. The tests are expected to take place at multiple locations in the United States and Europe. The aim is to examine whether the therapy can reduce deaths and “the need for assisted ventilation” in Covid-19 patients.

A manager from Astrazeneca said this was the fastest start of a clinical trial in the company’s history.

Contact the author :unternehmen.de@dowjones.com

DJG / DJN / bam / sha

(END) Dow Jones Newswires

April 14, 2020 09:01 ET (13:01 GMT)

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Massachusetts Coronavirus cases rise to 218 – NBC Boston

The total number of coronavirus cases in Massachusetts is up to 218, public health officials said Tuesday after it had arrived at 197 the day before.

Massachusetts is one of the states in the United States with the highest number of coronavirus cases in the country so far. While nobody died from the virus locally, more than 70 people died nationwide.

Severe restrictions on daily life have been ordered, including the canceled school, the limits on gathering in groups and eating in restaurants, while the state struggles to mitigate the spread of the deadly pandemic.

Earlier Tuesday, Governor Charlie Baker said Massachusetts faces “tough days ahead” and has torn down rumors that residents have been ordered to take refuge on the spot.

President Donald Trump and the Coronavirus Task Force gave updates on the coronavirus pandemic on Tuesday, urging people to follow the CDC guidelines for at least 15 days and to act very cautiously. Treasury Secretary Steve Mnuchin later announced a tax deferral of the IRS for those who are liable to pay taxes.

For days, most Massachusetts cases represented in the Department of Public Health numbers were related to an employee meeting held by the local biotechnology company Biogen at a hotel in downtown Boston. But it is no longer so: Tuesday’s data show 102 people linked to the meeting directly or through members of their family.

Thirty-three cases were found to be transmitted locally and 24 related to travel, according to the numbers. Another 59 remain under investigation.

Someone has coronavirus in at least 10 of the state’s 14 counties.

Eighty-nine cases were in County Middlesex, 43 in Norfolk, 42 ​​in Suffolk, 14 in Berkshire, eight in Worcester and Essex, five in Bristol and Plymouth, two in Barnstable and one in Hampden. Another case has not yet been traced to a location.

Twenty-one cases have so far been confirmed as in need of hospitalization, while 52 remain under investigation and 145 people have not needed to go to hospital.

Many officials cited the phrase “flatten the curve” while seriously reducing public events. An infectious disease expert explained what it means and why it is crucial for the public health system.

The haste to limit social activity across the nation is an attempt to prevent the virus from spreading so quickly that it overwhelms hospital intensive care units, which places like Wuhan, China and Italy have seen.

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Baseball player’s first tests are positive for Coronavirus which sent chain effects via MLB – NBC Los Angeles

Maybe it was inevitable.

In the past few days, the world of sports has come to
the scream stops when a handful of players test positive for the COVID-19 virus.
It started with soccer players in Europe and eventually reached the NBA where
three known players have already shown that they are positive for coronavirus. Was
just a matter of time before the virus infiltrated other sports.

On Sunday, he entered the Major League Baseball.

The New York Yankees were the first professional baseball
team to announce that one of their minor league players had tested positive for
COVID-19. The team said the unidentified player was quarantined
Friday after developing a fever.

ESPN’s Jeff Passan was the first to report the news
positive test.

The positive test will certainly have a chain effect in the
MLB world. Probably the whole list of Yankees, both in the major league
and the minor league will need to be tested for the virus.

As of the publication of this story, the team already has
say all of their minor league
players self-quarantine for the next two weeks.

Most likely, the entire spring training facility will
close – if t hasn’t already done so – and a timeline of who entered the unknown
contact with and if he had contact with players from other teams, he will be from
vital.

Last Sunday, MLB sent a reminder to all 30 teams,
encourage all organizations to avoid any activity involving players and
people who gather in significant numbers.

“The risk of contracting a player in a club facility
the virus is real, “read part of the memo.

Initially, after Thursday’s announcement that MLB was
suspend their spring training season and delay the start of the regular
season, the spring training facilities had to remain open to allow players to
continue to train and prepare.

Shortly thereafter, the league announced that the facilities would
would close and the players would have the option of returning home or returning
their home market, or remain in their spring training city (in Arizona or
Florida).

NBC LA spoke to a handful of players on the Los Angeles Dodgers, and many of them were deciding between staying in Arizona or returning to Los Angeles. Many players are renting homes in the Arizona area with rental agreements that expire next week.

Initially, the MLB announced that the regular season would only be delayed “by two weeks”. NBC LA learned that the original interim calendar played a significant role in the players’ decisions on where to stay during the suspension. Many players had the impression that the season could start on April 9th, moving to their home market for the next few weeks the most convenient.

However, following the disease control centers’ announcement on Sunday, all meetings of more than 50 people should be canceled for at least the next eight weeks. The probability of the MLB season starting in April appears to be rather bleak.

In all likelihood, the eight-week barometer is probably longer
accurate, which means that the MLB season could start in late May or early
on June. Many players, including the Dodgers, have to ask themselves, “If
there is no baseball, in which city I would prefer to spend the next two months
in?”

It will be interesting to see if the announcement of the
the first baseball player to be positive has a chain effect on the major league
level and if other positive tests are yet to come.

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Coronavirus crisis: The impact of the pandemic on personal finances and tips to alleviate it | My finances section

The suspension of the Fallas in Valencia. The cancellation of Easter celebrations in Seville, Murcia, Granada, Valladolid, Cartagena and Lorca, among other places, or the closure from this Saturday of all shops (except food and basic necessities) in the Community of Madrid and Galicia. These are just three of the many examples that could be done, but it is enough to understand the damage to the Spanish economy that the coronavirus outbreak – the magnitude of which can be accurately measured only in a few months or, perhaps, years – is already causing . The Government announced on Thursday a shock plan to fight the expansion of the pathogen and mitigate its economic impact, for 18,225 million euros this year, that is, 1.5% of GDP. But, if the gaze is directed towards the domestic economy from large numbers, the question remains of how the arrival of the coronavirus will affect the finances of Spanish households. Faced with uncertainty, experts advise prudence and adopt measures that help mitigate this impact.

“Forecasts about the economic consequences of the pandemic on families are very difficult to make because they will depend on its duration, something that at this time no one can determine,” admits the spokesperson for the Organization of Consumers and Users (OCU), Ileana Izverniceanu. If the duration were short, the effects would be felt mainly as a consequence of the cancellation of trips, hotels, airline tickets and shows. For the OCU, “consumers should be reimbursed for the amounts paid, since it is a circumstance of force majeure and they cannot be the only ones to face the crisis caused by the emergency,” said its spokesperson.

But many families are already forced to pay the additional costs of caring for children in the Autonomous Communities where it has been established to suspend classes, a decision that already affects more than 10 million students. In this sense, Izverniceanu highlights that some households cannot bear this cost and that reconciling work with childcare is an impossible task for some. Therefore, it requests that these parents “have the right to paid permission for an inexcusable duty of a public and personal nature, taking refuge in a public health situation.”

Medium term

In a scenario in which the pandemic lasted for a longer period, the financial expert Antonio Gallardo predicts a decrease in consumption. This would lead, on the one hand, to an increase in available savings, which, however, in an environment with very low interest rates, would not provide any additional benefit to the user. On the other, it would contribute to a worsening of the economic situation that would lead to layoffs or, in the case of a self-employed worker, loss of income, which would endanger the family economy.

Nor should we ignore the effect of the collapse of the stock market – the Ibex registered last Thursday the worst closing in its history, -14% – on small investors. “Many of them have their savings in investment funds and pension plans, so even though they don’t sell these investments, they are impoverishing themselves,” explains Gallardo. Still, “it is convenient that in a situation of high stock market volatility like the one we are experiencing, users do not rush to make decisions that may cause a loss in their investments,” advises Izverniceanu.

Review the budget

In any case, it will be essential to see how the coronavirus crisis will have affected household finances and to review the different chapters of the budget. “In some cases, hardly any adjustments will have to be made,” says Gallardo, “since the cost item could decrease because already planned decisions are canceled, such as Easter trips, or —as it seems probable— due to a consistent decrease in Euribor. , which would entail a lowering of the mortgage payments ”. In his opinion, for some it will not be so much about eliminating expenses and projects, but about making adjustments in the former and postponing the latter.

“We must ask ourselves if we can make important purchase decisions and study whether they adapt to changes in our personal circumstances, especially if they involve indebtedness,” Gallardo insists. In this sense, the OCU recommends avoiding situations that could lead to excessive debt. “If you need to resort to credit, you have to compare between the different options, ranging from the cheapest, such as advances in payroll or loans between family members, through consumer loans, and even the most expensive and inadvisable, that is, fast credits and revolving“Izverniceanu adds.

Modulate savings

In crisis situations like this, the lucky ones who have been able to accumulate savings and have kept the part dedicated to the short term —for unforeseen events and needs such as those that occur now— and that of the medium or long term —which covers important purchasing decisions- well separated. future, like a home, and retirement — you can use that contingency fund. On the contrary, “if, for example, all our money is in investment funds that have dropped sharply and now we need it, we will find ourselves with significant losses,” warns Gallardo.

Of course, now is the time to “stay calm,” Izverniceanu suggests. “If we have the need to make any adjustments, let’s do it sensibly, thoughtfully and taking into account all the variables; Above all, let’s not panic, buying many things or selling investments at a loss, and let’s analyze everything with perspective, ”adds Gallardo. For this expert, the crisis may also be an opportunity to draw a positive lesson: “Understand the importance of spending time to have a budget in order.”

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Huge 3km Asteroid will pass near Earth – Telemundo Puerto Rico

No, it will not impact the Earth and will not have any effect on our planet. But both astronomers and sky enthusiasts are attentive to the slight approach of the huge asteroid 52768 (1998 OR2), a space rock whose size is estimated between 1.8 and 4.1 kilometers in diameter.

The greatest approach occurs on April 29, 2020, but several observatories are already observing it, while it was assured that from the Island they will be observing it, since when pointing a telescope towards the right place and time, the asteroid 52768 can be appreciated looking like an apparent star moving “very slowly,” said the Caribbean Astronomy Society (SAC).

The educational entity clarified there is no risk of impact of this asteroid, since the space rock would be passing 16 times the Earth-Moon distance. However, its large size will make it easier to see it with optical help.

This is considered a “Potentially Dangerous Asteroid,” but only because it occasionally approaches the Earth-Moon distance less than 20 times, and because of its large size. Even so, there is no risk since its orbit has been calculated for at least the next 200 years, and its trajectory does not represent any danger.

The Arecibo Observatory will be studying asteroid 52768 between April 8 and 24, 2020, as space rock travels at a speed of 19,461 miles per hour (31,320 km / h), that is, 8.7 km per second.

The radar images that will be obtained from Arecibo will allow us to better understand the shape and size of this space rock. Asteroid 52768 belongs to a class or type of space rocks called “Love” and it is anticipated that after April 2020, it would be returning to the vicinity of our planet on April 16, 2079, when it will pass 4.6 times the Earth-distance Moon.

Of all the approaches of large “Near-Earth Objects” that occur less than 5 lunar distances, that of asteroid 52768 (1998 OR2) would be that of the largest known space rock in approaching Earth during the next two hundred years , highlighted the SAC.

The organization that has put thousands of people to look to the sky urged to visit the portal www.SociedadAstronomia.com as well as Facebook.com/sociedad.astronomia as they will hold events free of charge to observe Asteroid 52768 through the telescopes of the educational entity.

Asteroid 52768 (1998 OR2) was discovered on July 24, 1998 from the Haleakala Observatory in Hawaii.

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