Pandemic closures are still worrying business owners, with Black entrepreneurs the least optimistic
Pedestrians walk past closed shops along Lexington Avenue amid the coronavirus pandemic on April 7, 2020 in New York City.
John Lamparski | Getty Images
The survey revealed that just over half (55%) of entrepreneurs are confident that their businesses can last another year. But fears of permanent closures varied depending on the race of the business owner, with 59% of White business owners confident that their business can last for another year, compared to 55% of Hispanic business owners, and just 37% of Black business owners expressing confidence.
According to the survey, 20% of small businesses have closed and then reopened at limited capacity during the pandemic, 10% have shut down and haven’t reopened, and 4% have shut down only to reopen and shut down again. More than half of small business owners say they stayed open throughout the pandemic.
The confusion and instability has led many entrepreneurs to support President Joe Biden’s $1.9 trillion Covid relief proposal, which looks to include aid to small businesses, according to the report.
The previous relief package was met with criticism from small business owners who alleged that the package prioritized wealthy business owners over those who may have needed the relief more.
Democrats eye unemployment benefit boost
President Joe Biden and Democrats on Capitol Hill are pushing for additional unemployment benefits as part of a $1.9 trillion pandemic aid package.
The exact duration and amount of those extra benefits are unclear.
The House Ways and Means Committee advanced a measure that would extend jobless benefits to the end of August and pay an extra $400 a week. By contrast, Biden wants to offer benefits through September. Sen. Ron Wyden, D-Ore., the chair of the Senate Finance Committee, is pushing for a larger, $600-a-week supplement.
Democrats’ plans to pass the legislation with a simple majority, which they aim to do using a special budget measure, may be complicated by a $15-per-hour minimum wage provision.
Democrats advance key pieces of $1.9 trillion relief plan
U.S. House Speaker Nancy Pelosi, a Democrat from California, speaks during a news conference at the U.S. Capitol in Washington, D.C., on Thursday, Feb. 4, 2021.
Al Drago | Bloomberg | Getty Images
House Democrats have advanced major parts of their $1.9 trillion coronavirus relief package as they try to get it through Congress before unemployment aid programs expire next month.
Several committees have approved their portions of the proposal, which the House Budget Committee plans to combine into a massive bill as soon as next week. The House Ways and Means Committee advanced core pieces of the rescue package including $1,400 direct payments, an extension of supplemental jobless benefits and relief to households with children.
House Speaker Nancy Pelosi, D-Calif., expects the House to pass the bill before the end of February. It still faces hurdles in getting through the Senate, even under the special budget reconciliation process that enables Democrats to approve it without Republican votes.
Among the potential issues, House Democrats will include a $15 per hour minimum wage in their version of the legislation. It may not comply with budget rules, however, and at least two Senate Democrats have signaled they oppose the provision.
Senate Democrats will need every member of their caucus on board to pass the bill in a chamber split 50-50 by party.
CDC to unveil new school re-opening guidance
The Centers for Disease Control and Prevention on Friday is expected to unveil sweeping new guidance on how schools can safely reopen for in-person learning, despite the spread of the coronavirus and highly contagious new variants.
CDC Director Dr. Rochelle Walensky and Donna Harris-Aikens, senior advisor for policy and planning at the Department of Education, are scheduled to host a briefing on the new guidance at 2 p.m. ET. The CDC said they will discuss “new science-based resources and tools to help schools safely reopen and stay open for in-person learning.”
President Joe Biden has made reopening the nation’s schools for in-person instruction one of his top priorities. He pledged in December to reopen the majority of the country’s schools in his first 100 days after taking office, but Biden did not define what it meant for a school to “reopen.”
In January, the president specified that the goal applied only to schools that teach students up to eighth grade. Earlier this week, the White House further clarified that schools will be considered open so long as they teach in person at least one day a week.
Spotify is latest tech company shifting to remote work
Audio-streaming giant Spotify said its employees won’t have to come back to the office following the Covid-19 pandemic.
The company is adopting a “Work from Anywhere” model, which will allow employees to choose whether they want to be in the office full time, work remotely full time or choose a hybrid model. Spotify is also allowing more flexibility around locations, so employees will be able to choose the country and city where they work, with some caveats. Spotify will provide co-working space memberships for employees who choose to work remotely but still want a dedicated workspace.
An increasing amount of companies are starting to consider remote work as a more permanent option due to the Covid-19 pandemic. Salesforce announced this week it will let employees choose whether they want to come into the office again, saying “the 9-to-5 workday is dead.”
CDC to probe death of Nebraska man following vaccine dose
The Centers for Disease Control and Prevention will investigate the death of a Nebraska man who died on Jan. 17 between one and two weeks after receiving his first dose of a Covid-19 vaccine, according to the Nebraska Department of Health and Human Services.
The man was a long-term care facility resident in his late forties with several co-existing diseases and conditions, the department said in a press release. Local health officials listed the Covid-19 vaccine among several causes of death.
The CDC and Food and Drug Administration have received 1,170 reports of fatalities among individuals in the U.S. who received a Covid vaccine — 0.003% of vaccinated people — between Dec. 14 and Feb. 7. Over 41 million doses of Pfizer or Moderna’s Covid-19 vaccines were administered across the country during this time frame, the CDC reported.
No pattern has been found in the causes of death that would suggest safety concerns with Covid vaccines, according to the CDC.
Nebraska’s chief medical officer Dr. Gary Anthone said in the statement the death is likely due to underlying factors.
“It is really important for individuals that have high-risk conditions to consult their medical provider about the best approach to getting vaccinated,” Anthone said.
Dr. Kavita Patel says precautions still needed even after being fully vaccinated
Dr. Kavita Patel told CNBC some public-health precautions will be necessary even for Americans who have been fully vaccinated against Covid.
While the vaccines have proven effective in preventing severe disease and death from Covid, the former Obama administration official said on “Squawk Box” that more information is needed around whether they reduce transmission of the virus.
She said even though she’s been fully vaccinated, she continues to wear a face mask, for example.
“As the months go on and more people in your household and potentially another household, like your parents or your grandparents are vaccinated, that could make smaller gatherings safer,” Patel said. “That is something to look forward to because we’ve been holding off now for over a year, some of us, to see older parents and relatives with high risk.”
Williams-Sonoma sales get a boost from people spending more time at home
The 65-year-old retailer sells home goods, high-end cookware and furniture through its seven brands including Pottery Barn, Williams Sonoma and West Elm.
Spirit Airlines hiring flight crews for first time since pandemic’s start
Training for new pilots and flight attendants starts next month, Spirit said. Spirit last trained a class of new pilots in May and new flight attendants in February 2020. It ended last year with 8,756 employees, including 2,497 pilots and 4,028 flight attendants.
Other airlines are trying to shrink headcount through voluntary measures. American Airlines and United Airlines are supporting additional government payroll support for workers with a combined 27,000 employees facing furlough when the current round of aid expires on March 31.
Late Thursday, the House Financial Services Committee advanced the proposal for $14 billion in additional federal payroll support for airlines, which would be a part of the Biden administration’s $1.9 trillion coronavirus relief package.
White House Covid official to meet with airline CEOs on Friday
U.S. President-elect Joe Biden listens as Jeff Zients, named as Biden’s coronavirus disease (COVID-19) czar to oversee the response to the pandemic, addresses a news conference at Biden’s transition headquarters in Wilmington, Delaware, December 8, 2020.
Kevin Lamarque | Reuters
The CEOs of major U.S. airlines are planning to meet virtually with the White House’s Covid response coordinator, Jeff Zients, and other administration officials to discuss travel-related issues, including plans to require Covid-19 testing ahead of domestic flights, Reuters reported, citing sources.
“Such a mandate would be counterproductive, costly, and have serious unintended consequences,” including putting jobs at risk, according to the letter, which was released on Wednesday.
The Centers for Disease Control and Prevention in January said the Biden administration was “actively looking” at mandatory testing for U.S. domestic flights. On Jan. 26, the CDC began requiring testing or evidence of recovery from Covid-19 from nearly all U.S.-bound international passengers age 2 and older.
Physicians warn Covid may never go away and people need to learn to live with it
Healthcare workers wearing protective gear prepare to attend patients at the Portimao Arena sports pavilion converted in a field hospital for Covid-19 patients at Portimao, in the Algarve region, on February 9, 2021. (Photo by PATRICIA DE MELO MOREIRA / AFP) (Photo by PATRICIA DE MELO MOREIRA/AFP via Getty Images)
PATRICIA DE MELO MOREIRA | AFP | Getty Images
A growing chorus of infectious disease experts and public health officials have warned the coronavirus will become endemic, saying people need to learn to live with the virus.
“I think if you speak with most epidemiologists and most public health workers, they would say today that they believe this disease will become endemic, at least in the short term and most likely in the long term,” said David Heymann, professor of infectious disease epidemiology at the London School of Hygiene and Tropical Medicine.
Heymann is the chair of the WHO’s strategic and technical advisory group for infectious hazards and led the health agency’s infectious disease unit during the SARS epidemic in 2002-2003.
His comments echo the thoughts of White House coronavirus advisor Dr. Anthony Fauci, Moderna CEO Stephane Bancel and the World Health Organization’s Executive Director of the Health Emergencies Program Dr. Mike Ryan.
— Sam Meredith
Japan approves its first Covid vaccine, made by Pfizer, NHK TV reports
Pfizer-BioNTech COVID-19 vaccine
Sergio Perez | Reuters
Japan has been rushing to contain a third wave of infections as it prepared to host the Olympic Games, Reuters said.
Prime Minister Yoshihide Suga has said vaccinations will begin from the middle of next week, the wire service reported, and the government hopes to secure enough doses for the whole country by mid-year.
The Tokyo Olympic Games are slated to start on July 23.