Coronavirus May Be More Mobile Than Researchers Thought
I'm Jack how how the new Barron Streetwise podcast. I'm business and investing each week. We hear from company chiefs and analysts about profound changes facing investors. We've heard from Disney's Bob Iger about the future of movies and theme parks. Cvs Is Larry Merino about stores providing more health services. And Ford's Jim Hackett about how the pandemic might change the car business. Subscribe to Baron Streetwise on Apple podcasts. Spotify or wherever you listen to podcasts. Millions more job losses expected in this morning's numbers now states worry about how to pay the claims. It just shows you the size and scale of job loss year that within weeks of this pandemic gripping the country states have to ask for a federal bailout of their unemployment insurance plus new research suggests the corona virus may be able to spread further through the air than we thought and how the pandemic may bust up a half billion dollar lingerie purchase. It's Thursday April twenty third. I'm Mark Garrison with the Wall Street Journal and this is what's news. Georgia plans to reopen some non essential businesses tomorrow including salons tattoo parlors gyms. We talked on the podcast yesterday about divided feelings in the state about the move and yesterday's White House briefing. Dr Anthony found she expressed concern about Georgia's governor moving too quickly. I would advise him not to just turn the switch on and go because there is a danger of a rebound president trump said he told. Georgia governor Brian Kemp. He disagreed with the plan to partially reopened. But he also said those decisions are up to the governor. You know tweet. After their conversation governor Kemp said he appreciated the president's leadership stressed that the reopening as measured data driven and prioritizes the health of workers and customers. The House today is expected to pass a stimulus. Bill including four hundred and eighty four billion dollars of new aid. The key recipients are small businesses and hospitals the number of American Corona virus linked deaths in long term care facilities including nursing homes. Now tops. Ten thousand people on a wild matthews is part of the reporting team that gathered the data residents of nursing homes and other types of facilities for elder care are particularly vulnerable partly because of their age also because many of them have underlying health conditions. In addition the setting of these long term care facilities is one that is particularly susceptible often residents living with multiple residents in a room. Staffers are coming from room to room to serve residents to clean them to feed them. They can carry the virus easily between rooms. It's very hard to contain often. Once it gets into a facility one key thing that nursing home owners and physicians that we spoke to said that more testing is needed. One reason that is true is because a lot of people in Nursing. Homes and other facilities who have corona virus infections may not have obvious symptoms. It's very hard to contain. If you don't know who has new information from California raises big questions about the timeline of the corona virus pandemic in America to newly reported deaths in the bay area include woman who died in early February weeks before. Us Health authorities thought right after this. How the pandemic threatens a HALF BILLION DOLLAR DEAL FOR VICTORIA'S SECRET Weekly unemployment claims are out this morning. The latest data on how many jobs the pandemic is destroying journal Labor Economics reporter. Eric Wrath has a preview so economists we surveyed are expecting another four million more Americans to file for unemployment benefits pushing the total number seeking aid above twenty five million as far as state budgets hearing. That are ready. New York and California have reached out to the federal government seeking assistance. Massachusetts is also told us their funds are running low so normally states pay unemployment insurance from an insurance fund which they collect from employers through taxes when those funds run dry they need to turn to the federal government. Wants unprecedent here is. They're doing this after a month. Usually this is something that you might see late in a recession after this has been going on for a while it just shows you the size and scale of job loss year that within weeks of this pandemic gripping the country states have to ask for federal bailout of their unemployment insurance funds. The pandemic is also affecting Wall Street dealmaking. Private equity firm. Sycamore partners is suing to get out of its deal. For Victoria's secret it agreed in February to buy a controlling stake for over half a billion dollars. Markets Reporter of Antica Chilcott explains what's going on and the potential broader impact. This deal is basically a test. It's illegal test of whether the corona virus pandemic allows the buyer to walk away if they reach disagreement before the outbreak Sycamore. Decision to take control of Victoria's secret was one of those very closely watched deals earlier this year. And what the private equity firm is saying is that since the corona virus outbreak hit. The economics is so uncertain. The business environment has changed so much that the deal doesn't stand anymore for example L. Browns. Which is the parent company? Victoria's secret decided to close stores. It's followed most of its workers. It's skipping April rent payments and all of these things in the private equity firms view changed the terms of the deal so that something that other companies will be watching quite closely and whichever way it goes. It could influence other deals bill. Brands says it will defend itself against the lawsuit and is still working to close the deal. We're seeing something of a recovery in oil markets today both. Us and global oil futures moved sharply higher in early trading. But they're still well below pre pandemic numbers we have earnings reports today from Intel Eli Lilly and blackstone after a quick break what scientists are learning about. How far the Caribbean virus can travel. I'm Jack how hosted the new baron streetwise podcast. I'm businessman investing each week. We hear from company chiefs and analysts about profound changes facing investors. We've heard from Disney's Bob Eiger about the future of movies and theme parks. Cvs Is Larry Merlo about stores providing more health services. And Ford's Jim Hackett about how the pandemic might change the car business. Subscribe to Baron Streetwise on Apple. Podcast spotify or wherever you listen to podcasts. There's new research suggesting. The Corona virus may be able to travel farther through the air than most scientists thought Journal reporter. Sara Toy spoke with our Charlie Turner. Sarah what has the consensus been. Thus far on how. The Corona virus which causes cove in nineteen is transmitted one thing. Most scientists and doctors agree on. Is that the viruses primarily spread through droplets that you make when you cough or sneeze or even when you talk the W. H. O. Says this can happen when you're within three feet of someone who's sick while the CDC says that can happen within six feet. Most people in the scientific community also agree that it's possible to get the virus by touching an infected surface and then touching your mouth nose or is that's why it's recommended you don't touch your face wash your hands often so tell us about this new research which involves scientists looking at other modes of transmission. How's it different from what we've generally accepted from the? Who in the CDC? So what's being debated right now? Is this idea of the virus. Being spread through these minuscule particles called aerosols that can actually linger in the air for hours long after the sick person leaves the room. Some people refer to this as airborne transmission measles and chickenpox can spread this way but we haven't quite figured out whether that's the case for the new corona virus. There have been some studies that have looked at the Aaron rooms of cove in nineteen patients in sampled that. But the results have been mixed. There's also been some question about how far coffers needs can actually travel. One lab has shown that droplets from cough traveling this cloud and that can reach up to nine hundred thousand feet and a sneeze can travel up to twenty six feet. Another study has shown that ten percent of droplets from a coffers still present in the air even after traveling six feet. What's been the reaction to this research? The reactions have been mixed. It's important to understand that there's a lot we don't know about this virus and how it travels and whether it can infect people. When it's an aerosol form talk to Anthony Fauci actually said in a press briefing last month that the report about the sneeze was misleading and that it was looking at this very robust vigorous chew sneeze in his words and that just wasn't practical. There is a study that some people like to point to and it was published in the New England Journal of Medicine in mid March. A group of scientists looked at these lab made aerosols that contains the current avars and they showed that this virus could survive in stay infectious for hours but there has been some criticism where some scientists said that those findings worked on an actual human coughs and that limits. How much these findings could be applied to real life. What does this mean for a stay today? As far as how we can protect against the virus this just underscores how important it is for people to take precautions when they go out. People should be wearing a mask because that can protect against droplets. That come your way. But if someone sick when they sneeze or they cough it actually also prevents those droplets from getting out to other people and it also just underscores how important social distancing is and and that people should really try to stay at home if they can Wall Street Journal reporter Sara Toy. Thanks a lot Sarah thank you. We are here to answer your questions about the corona virus pandemic call three one five nine nine two eight two nine eight can leave your question on our voicemail we will have our reporters and experts get you answers and that is what's news for this morning. If you like our show please rate and review US wherever you get your podcast. We are back with another updated episode this evening. And there's always more on wsj.com Dr App. I'm Mark Garrison with the Wall Street Journal. Thanks for listening.