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Texas Governor Greg Abbott issued an executive order on Friday limiting certain businesses and services as part of the state’s effort to contain the spread of COVID-19.This decision comes as the number of people testing positive for COVID-19 and the number of hospitalizations have increased and the positivity rate in Texas increased above 10%, which the Governor previously stated would lead to further preventative action.“As I said from the start if the positivity rate rose above 10%, the State of Texas would take further action to mitigate the spread of COVID-19,” Governor Abbott said. “At this time, it is clear that the rise in cases is largely driven by certain types of activities, including Texans congregating in bars. The actions in this executive order are essential to our mission to swiftly contain this virus and protect public health. We want this to be as limited in duration as possible. However, we can only slow the spread if everyone in Texas does their part. Every Texan has a responsibility to themselves and their loved ones to wear a mask, wash their hands, stay six feet apart from others in public, and stay home if they can. I know that our collective action can lead to a reduction in the spread of COVID-19 because we have done it before, and we will do it again.”The targeted, measured directives in the executive order are based on links between certain types of businesses and services and the recent rise in positive cases throughout the state.The order includes the following:All bars and similar establishments that receive more than 51% of their gross receipts from the sale of alcoholic beverages are required to close at noon on Friday.These businesses may remain open for delivery and take-out, including for alcoholic beverages, as authorized by the Texas Alcoholic Beverage Commission.Restaurants may remain open for dine-in service, but at capacity not to exceed 50% of total listed indoor occupancy, beginning Monday.Rafting and tubing businesses must close.Outdoor gatherings of 100 or more people must be approved by local governments, with certain exceptions.KXXV first reported this story. 2149
The app Nextdoor announced its added new features for families looking to celebrate Halloween safely amid the pandemic.According to the social networking company, their Treat Map, which has been up and running since Oct. 1, typically shows homes that pass out candy in your neighborhood.This year, the company added new features, including homes displaying Halloween decorations, so you can drive by to look at the spooky decor.The maps will also show which homes have pumpkin projects or participate in a costume wave parade, which is where you wave at your neighbors safely from your vehicles while wearing your favorite costumes. 640
That was fast. Wall Street's enthusiasm for the US-China trade truce has completely vanished.The Dow Jones sunk nearly 800 points on Tuesday, nearly a three percent drop.The S&P 500 declined 2.5%, while the Nasdaq tumbled 3%.Big tech stocks fell sharply. Apple (AAPL), Amazon (AMZN) and Alphabet (GOOGL) lost more than 3% apiece.The selloff wipes out Monday's 288-point jump on the Dow. That rally had been fueled by relief over the ceasefire between the United States and China on the trade front.But investors are quickly realizing that the US-China trade war is not over. The tariffs already put in place remain. And new tariffs could be implemented if the two sides fail to make progress."People are still very concerned about the trade war," said Dan Suzuki, portfolio strategist at Richard Bernstein Advisors. "Financial markets are increasingly showing signs of fear of a recession."President Donald Trump did not help Wall Street's trade war worries on Tuesday. Trump said that he would "happily" sign a fair deal with China but also left open the possibility that the talks will fail."President Xi and I want this deal to happen, and it probably will," Trump tweeted. "But if not remember... I am a Tariff Man."Those words aren't likely to bolster confidence among investors already worried about the negative consequences of the trade war. Steel and aluminum tariffs have lifted raw material costs and caused disarray in supply chains. And uncertainty about trade policy makes it very difficult for companies to make investment decisions.Investors have also grown very worried in recent days about fluctuations in the bond market. The gap between short and long-term Treasury rates has narrowed significantly this week. Before almost every recession, the yield curve has inverted, meaning short-term rates are higher than long-term ones.The gap between the 10-year and two-year Treasury yields dropped on Tuesday to the smallest since just before the Great Recession. And the less closely watched gap between three and five-year Treasury yields inverted on Monday.The tightening yield curve reflects fears about a growth slowdown and concerns about whether the Federal Reserve is raising interest rates more quickly than the economy can handle. Fed chief Jerome Powell gave a speech last week that investors interpreted as signaling the central bank could slow its rate hikes. However, there is a debate over whether Powell really was telegraphing a sudden change.Barry Bannister, head of institutional equity strategy at Stifel, predicts the Fed will pause its rate hikes because it has already made monetary policy too tight. He pointed to the slowdown in the housing market caused by higher mortgage rates."It's playing with fire to be too tight and risk an inversion because you don't know what the outcome will be," Bannister told reporters on Tuesday. "Even if the Fed pauses, they may have already done too much."A flattening yield curve and slowing economic growth hurt the profitability of banks.The financial sector was the second-worst performer in the S&P 500 on Tuesday. Bank of America (BAC), Morgan Stanley (MS) Citigroup (C) and Wells Fargo (WFC) declined more than 4% apiece.But Suzuki cautioned that the markets could be overreacting. He pointed to strong corporate profits and the fact that the yield curve has not yet inverted."We don't see signs of an impending recession," Suzuki said. "There is a widening gap between market fear of a deterioration in the fundamentals and the actual fundamentals themselves." 3558
Tax refunds, a lifeline for many Americans to help get caught up on bills, or to buy much-needed items, could once again take some time to reach Americans in 2021.Earlier this year, many tax payers complained about delayed refunds amid the early days of the coronavirus pandemic. The IRS sent many of its employees to work from home, resulting in delays in processing refunds. It was also difficult for many Americans to contact the IRS.Meanwhile, the IRS was processing millions of economic impact payments as most American adults were eligible to receive a ,200 payment from the federal government.The IRS advised tax payers on Tuesday to not rely on a tax refund coming by a certain date.“The IRS always cautions taxpayers not to rely on receiving a refund by a certain date, especially when making major purchases or paying bills,” the IRS said on Tuesday. “Some returns may require additional review and processing may take longer. For example, the IRS, along with its partners in the tax industry, continue to strengthen security reviews to help protect against identity theft and refund fraud. Just like last year, refunds for tax returns claiming the Earned Income Tax Credit or Additional Child Tax Credit [lnks.gd], cannot be issued before mid-February. This applies to the entire refund, even the portion not associated with these credits.”The IRS said that the fastest way for tax payers to obtain a refund is to file electronically and request payment via direct deposit.The IRS said that once a tax return is received, Americans can track their refund using the “Where’s My Refund” tool on its website.According to the IRS, the agency issued 122 million refunds for tax year 2019, totaling 2 billion. The average refund was ,704. All told, the IRS processed 253 million tax returns for last year. 1825
TAMPA, Fla. — Several areas of Tampa Bay are assessing the damage left behind from a squall of storms that produced tornadoes on both sides of Tampa Bay.At least three tornado warnings were issued by the National Weather Service on Wednesday in Pinellas, Hillsborough and Polk Counties.The NWS believes there were tornadoes in Pinellas Park, along the Howard Frankland Bridge and near Kathleen.The National Weather Service said at 4:08 p.m., a “confirmed large and extremely dangerous tornado” was located over the Howard Frankland Bridge, southwest of Tampa. It was moving northeast at 35 mph.Pinellas Park Police say at least 25 structures were damaged by the storm. The storm also left thousands of customers without power.There are 2,410 Duke customers without energy due to severe weatherThis article was written by Lisette Lopez for WFTS. 852