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White House coronavirus advisor Dr. Anthony Fauci warned that the public's behavior over the Labor Day holiday weekend will determine how the virus spreads in the United States through the fall and winter seasons. Covid-19 cases are "unacceptably high," he said. The U.S. is seeing about 40,000 new cases a day. We wrap up the news for the week on vaccines, a U.S. House probe into White House trade advisor Peter Navarro and more.
| | Are we in for a Vaccine-o-ween? Pfizer sees data by end of October | Pfizer's CEO told a trade group Thursday that the company should have enough data from its Covid-19 vaccine efficacy trial by the end of October to seek regulatory clearance. The same day, Dr Fauci said that's unlikely, and his expectation for the first vaccine data is November or December. But the Pfizer CEO's comments came just a day after a letter from CDC director Robert Redfield instructed governors to make preparations for a vaccine rollout by Nov. 1 – two days before the presidential election – prompting more concerns about political pressure to approve a vaccine early.
–Meg Tirrell | | | | Covid vaccine is recommended for roll out in four phases in U.S. | The National Academies of Sciences, Engineering, and Medicine released a draft proposal to the NIH and CDC this week for distributing a Covid-19 vaccine in the U.S. They would distribute it in four phases with health-care workers and vulnerable Americans, such as the elderly and those with underlying health conditions, getting it first. Phase two includes essential workers, teachers and people in homeless shelters as well as people in prisons. Children and young adults are in phase three. Everyone not yet vaccinated is in the last phase.
–Berkeley Lovelace Jr. | | | | Expect Trump to talk less and less about the pandemic | At press conference Monday originally intended to address the outbreak, President Trump talked about the coronavirus for all of 70 seconds. Trump spent most of the 26 or so minutes discussing riots, crime and other law-and-order issues instead. We spoke this week to political strategists from both sides of the aisle who said it's in Trump's interest to speak less and less about the virus as we move closer to the election. Instead, the administration will play to its perceived strengths — and the handling of the pandemic isn't one of them. One concern is that it could give off the impression that the coronavirus is a solved problem. In fact, cases are up in some states, including across the Midwest.
–Chrissy Farr | | | | House panel investigates coronavirus contracts tied to White House trade advisor Navarro | A House Oversight subcommittee has opened a probe of all federal contracts negotiated by White House trade advisor Peter Navarro after the Trump administration abruptly canceled the bulk of a more than $600 million ventilator contract, Rep. Raja Krishnamoorthi, D-Ill., told CNBC earlier this week. Krishnamoorthi, chairman of the Subcommittee on Economic and Consumer Policy, said the panel is looking into Navarro as it expands an ongoing investigation into contracts awarded by the Trump administration related to the pandemic. The $646 million contract to acquire ventilators from Netherlands-based Royal Philips is the second contract negotiated by Navarro to face scrutiny. The first was a $765 million award to Kodak to help the firm manufacture pharmaceutical supplies.
–Will Feuer | | | | Fauci debunks theories of low coronavirus death toll from CDC | White House coronavirus advisor Dr. Anthony Fauci debunked online theories, pushed Trump on Twitter, that the CDC "quietly" changed its guidance for tallying coronavirus deaths, showing a fraction of total Covid-19 fatalities. Conspiracy theorists claimed the CDC was now saying only 6% of the country's coronavirus death toll was actually caused by the virus. The tweet said the remaining 94% had "other serious illnesses." However, Fauci said on ABC's "Good Morning America" Tuesday said that "does not mean that someone who has hypertension or diabetes who dies of Covid" didn't die from the virus.
–Noah Higgins-Dunn | | | | Prime time for telehealth startups | The surge in telemedicine since Covid has fueled funding for start-ups this summer, and health insurers have been writing big checks alongside venture capitalists, to firms like school-based provider Hazel Health. For investors the trend provides greater confidence such deals will lead to an exit in the form of an acquisition or IPO.
–Bertha Coombs | | @Work Spotlight | September 23, 2020
Balancing Current Challenges with Future Opportunities
In today's uncertain business climate, there is a focus on cost containment to weather the storm, but also a need for executives position their organizations for future growth. The CNBC @Work CFO Spotlight will examine how top finance leaders are successfully striking this balance. We'll discuss: lessons learned during the current crisis that can be applied permanently; the strategies, data and automation tools that can be leveraged to help manage uncertainty and lead to a stronger post-crisis posture; how to effectively engage employees, customers, and investors; and much more.
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