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The calendar just turned to November but some companies are already in the Christmas spirit. Starbucks and McDonald's have already released their 2017 holiday cups.Starbucks scrapped its traditional red design for a DIY cup. There's a stack of presents, a Christmas tree, doves, two people holding hands and lots of white space. Customers are encouraged to color the cups themselves. 412
The FDA announced on Friday that it has issued an emergency use authorization for a second coronavirus vaccine. Its approval comes just one week after the FDA gave an emergency use authorization for a similar vaccine by Pfizer. That vaccine began distribution earlier this week. Moderna’s vaccine has been hailed as a medical breakthrough. The vaccine has been considered 94.1% effective against the virus. According to Moderna, none of the thousands who were given two shots of the vaccine had severe COVID-19 symptoms. That is compared to 30 patients who were given a placebo who had symptoms.In order to obtain an emergency use authorization, the FDA weighed the vaccine’s benefits against possible side effects. An emergency use authorization is not a full FDA approval, but it allows those outside of a clinical or hospital setting to obtain the vaccine. “With the availability of two vaccines now for the prevention of COVID-19, the FDA has taken another crucial step in the fight against this global pandemic that is causing vast numbers of hospitalizations and deaths in the United States each day,” FDA Commissioner Stephen M. Hahn said in a statement. “Through the FDA’s open and transparent scientific review process, two COVID-19 vaccines have been authorized in an expedited timeframe while adhering to the rigorous standards for safety, effectiveness, and manufacturing quality needed to support emergency use authorization that the American people have come to expect from the FDA. These standards and our review process, which are the same we have used in reviewing the first COVID-19 vaccine and intend to use for any other COVID-19 vaccines, included input from independent scientific and public health experts as well as a thorough analysis of the data by the agency’s career staff.”According to Moderna, approximately 20 million doses will be delivered to the U.S. government by the end of December 2020. Moderna said it expects to have between 100 million and 125 million doses available globally in the first quarter of 2021, with 85-100 million of those available in the U.S.While the vaccine could nearly eliminate the number of hospitalizations and deaths associated with the virus, the shot might result in some symptoms.In an interview with CNN last month, Operation Warp Speed chief scientific adviser Moncef Slaoui said that 10 to 15% of those immunized had noticeable side effects.“Most people will have much less noticeable side effects. That frankly -- in comparison to a 95% protection against an infection that can be deadly or significantly debilitating -- I think is an appropriate balance," he told CNN. 2648

The General Services Administration, a government agency that assists incoming presidents with their transitions into the Oval Office, announced Monday that it has formally recognized President-elect Joe Biden’s victory in this month’s presidential election, according to a memo sent by the GSA.The announcement comes as the Trump campaign has been failing to gain traction in its legal battle against a number of states that Biden won.With the GSA’s decision, the White House will be required to provide intelligence briefings for Biden, along with classified government documents. The Biden team can also begin conducting background checks on potential hires before taking office on January 20, 2021.Last week, Biden said that the lack of a formal transition could have set the United States’ response to the coronavirus back.“I am optimistic but we should be further along,” Biden last week said during a virtual call with first responders. “One of the problem that we are having now is the failure of the administration to recognize (the results)."Since the Associated Press projected Biden as the winner of the election on Nov. 7, President Donald Trump and his campaign has made multiple claims that the election was stolen, and accusing election officials of fraud. So far, Trump’s campaign has not been able to substantiate any evidence of fraud in court, and has had a number of lawsuits dismissed.After past presidential elections, the apparent winner is given funding and access to documents to begin the transition.Biden pointed to the Presidential Transition Act of 1963, which says that government services and documents be made available to the “apparent” victor of the presidential election.While Trump did not concede on Monday, he said he is recommending his team to cooperate in the transition of power. "I want to thank Emily Murphy at GSA for her steadfast dedication and loyalty to our Country," Trump tweeted. "She has been harassed, threatened, and abused – and I do not want to see this happen to her, her family, or employees of GSA. Our case STRONGLY continues, we will keep up the good fight, and I believe we will prevail! Nevertheless, in the best interest of our Country, I am recommending that Emily and her team do what needs to be done with regard to initial protocols, and have told my team to do the same."GSA Administrator Emily Murphy said in letter that she had received threats, and that she was no coerced into delaying the announcement of an apparent winner."To be clear, I did not receive any direction to delay my determination," Murphy said in a letter to the Biden-Harris transition. "I did, however, receive threats online, by phone, and by mail directed at my safety, my family, my staff, and even my pets in an effort to coerce me into making this determination prematurely. Even in the face of thousands of threats, I always remained committed to upholding the law."Contrary to media reports and insinuations, my decision was not made out of fear or favoritism. Instead, I strongly believe that the statute requires that the GSA Administrator ascertain, not impose, the apparent president-elect. Unfortunately, the statute provides no procedures or standards for this process, so I looked to precedent from prior elections involving legal challenges and incomplete counts. GSA does not dictate the outcome of legal disputes and recounts, nor does it determine whether such proceedings are reasonable or justified. These are issues that the Constitution, federal laws, and state laws leave to the election certification process and decisions by courts of competent jurisdiction. I do not think that an agency charged with improving federal procurement and property management should place itself above the constitutionally-based election process. I strongly urge Congress to consider amendments to the Act."The Biden transition team welcomed the news on Monday. "Today’s decision is a needed step to begin tackling the challenges facing our nation, including getting the pandemic under control and our economy back on track," Biden- Harris transition executive director Yohannes Abraham said in a statement. "This final decision is a definitive administrative action to formally begin the transition process with federal agencies. In the days ahead, transition officials will begin meeting with federal officials to discuss the pandemic response, have a full accounting of our national security interests, and gain complete understanding of the Trump administration’s efforts to hollow out government agencies." 4568
The Democratic National Committee is eyeing eight American cities for its 2020 Democratic National Convention, a party official tells CNN.The DNC sent requests for proposals to a host of cities and received responses from eight: Atlanta; Birmingham, Alabama; Denver; Houston; Miami Beach; Milwaukee; New York; and San Francisco."The DNC sent the original letters of interest to a broad list of cities that have traditionally been able to meet the preliminary requirements for serving as a host," the official said. "We expect the entire selection process to play out over the next year."The site of the convention often serves as either a symbolic representation of where the party hopes to perform well in the presidential run or an area that represents certain values the party is looking to project.The official also said the party will consider event facilities in each city, transportation options and hotel accommodations.The Republican National Committee plans to announce its 2020 convention site by the end of summer, committee leaders told members earlier this month.The Republicans have kept quiet about the cities they are considering. But Trump campaign manager Brad Parscale has signaled interest in his hometown of San Antonio, and The Charlotte Observer reported that Charlotte, North Carolina, had presented a bid to the RNC.The Democrats held their 2016 convention in Philadelphia. While the selection is considered an honor and a boon for business, it is also regularly a logistical nightmare.Some of the cities being considered by the Democrats would be repeat hosts, including New York, which has hosted five times, most recently in 1992.Atlanta hosted in 1988, Denver hosted in 1908 and 2008, Houston hosted in 1928, Miami Beach hosted in 1972 and San Francisco hosted in 1920 and 1984. 1826
The ceasefire between the United States and China has set off a huge celebration on Wall Street.The Dow soared about 400 points at Monday's opening bell after China and the United States reached a temporary trade truce. It's a big relief because the damaging trade war between the world's two largest economies was set to deepen in January.The Nasdaq and the S&P 500 climbed more than 1% apiece."A truce is definitely better than an escalation of hostilities," Kit Juckes, strategist at Societe Generale, wrote to clients on Monday.Juckes said that even though investors may doubt the substance of the US-China agreement, "this morning's response reflects relief and a desire to pick up some last-ditch bargains."The relief rally comes after the S&P 500 spiked nearly 5% last week, its best since December 2011. That rebound was triggered by hopes of progress on the trade front and a speech by Federal Reserve chief Jerome Powell that investors interpreted as a signal the central bank will not rush to raise interest rates."The China trade situation is the keystone in the arch of agita," said Sam Stovall, chief investment strategist at CFRA Research.The progress on talks with China means "now we have a very good chance of experiencing a Santa Claus rally," said Sam Stovall, chief investment strategist at CFRA Research.It wasn't just US markets celebrating. Major indexes in Hong Kong and Shanghai surged more than 2.5%. And markets in London, Frankfurt and Paris climbed 2%. Commodities also raced higher. Copper and soybeans rallied. US oil prices, boosted by hopes of an agreement by Russia and Saudi Arabia to cut output, surged 4%.After meeting on Saturday, US President Donald Trump and Chinese President Xi Jinping agreed to hold their fire on tariffs while they try to reach a trade deal. Trump agreed not to raise the 10% tariffs on 0 billion worth of Chinese goods for now. Those tariffs had been scheduled to automatically rise to 25% on January 1. And China said it would be willing to purchase a "very substantial" amount of agriculture, energy and other US products.Still, some analysts warned that the celebration on Wall Street could be short-lived. China and the United States now only have 90 days to sort out nagging trade issues that have been in contention for years, if not decades. And the statements that emerged from the trade meeting lacked concrete details."The beefiest part of Saturday evening's meeting between Presidents Trump and Xi may well have been the local sirloin served for dinner," Nicholas Colas, co-founder of DataTrek Research, wrote to clients on Monday.Goldman Sachs economists said the most likely outcomes are that the truce gets extended after 90 days or that the trade war escalates. The investment bank sees just a 20% chance over the next three months of a comprehensive deal rolling back tariffs."The specter of higher and broader US tariffs remains," Goldman Sachs chief US political economist Alec Phillips wrote to clients on Sunday. 3014
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