World air journey restoration will stay weak near-term, says analyst

International air traffic is likely to remain sluggish in the short term as uncertainties about Omicron’s Covid variant persist, according to an aviation analyst.

Brendan Sobie, independent analyst at Sobie Aviation, said omicron has achieved passenger confidence in “travel right now because things are changing every day”.

“The recovery that we hoped would continue into the first half of next year is simply not going to happen. That will be a setback, “Sobie told CNBC’s” Squawk Box Asia “on Thursday. “Because we don’t know too much about this variant and we don’t know what’s coming up.”

While much is still unknown about Omicron, the World Health Organization warned that the variant spreads “significantly faster” than the delta strain and could change the course of the pandemic.

The highly infectious variant has now been detected in at least 89 countries and forced some governments to impose stricter containment measures during the holiday season.

Singapore freezes new quarantine-free ticket sales

On Wednesday Singapore said it would freeze new ticket sales for quarantine-free travel to limit the number of Omicron cases imported.

Singapore’s vaccinated itineraries program has been key to the hinge of the country’s “Living With Covid” strategy, and the latest move is dealing a significant blow to those efforts. Stocks of Singapore’s travel stocks like Singapore Airlines fell Wednesday after the announcement.

“Singapore Airlines will be hit by the setback in the VTLs,” noted Sobie.

He added that things are not moving in the right direction for Asia Pacific airlines which is “very disappointing”.

“It’s been such a difficult year for airlines in the Asia-Pacific region – a lot worse than expected,” said Sobie.

“It looked like it would get better. Unfortunately, it is only going in the opposite direction now.”

Blessing Nook Ministries asks for neighborhood’s assist to lift cash to stay at Union Avenue location

Posted: 7/30/2021 / 10:00 PM PDT
Updated: 7/30/2021 / 10:00 PM PDT

BAKERSFIELD, Calif. (KGET) – Blessing Corner Ministries is a staple of compassion in Bakersfield and they seek help from the community before they are forced to sell their property over the next few weeks.

The organization is known for its generous giveaways, clothing promotions, and food distributions.

Pastors John and Bonnie Turner have served the most vulnerable in Bakersfield on Union Avenue and 1st Street since 2005.

Bonnie Turner says the church raised $ 46,000 of its $ 75,000 goal through its barbecue fundraisers and donations. She says they have until the end of August to raise the remaining $ 29,000 and asks the community for help to continue their work there.

Anyone who can support Blessing Corner Ministries can Donate through the Church’s website.

Bonuses, spending of American Rescue Plan cash, stay sticking level in new Mayfield Heights union contracts

MAYFIELD HEIGHTS, Ohio – The city council did not approve a new contract for the service department on Monday, July 12th, but like previous union deals that also received no approval from the council this year, it will come into effect soon.

The council voted 3-3 (with Council President Diane Snider abstaining because her husband is a police officer) in the vote on the service contract. As negotiated by the city and the departmental union, the new contract provides for a salary increase of 2.5 percent and a one-off bonus in each of the three years (starting retroactively in January). The bonus is 4 percent of each employee’s salaries in 2020. The contract is similar to the contracts signed by police and fire service unions earlier this year. Traditionally, non-union city workers in Mayfield Heights receive the same raise as union workers.

Although the council did not approve the contract approved by the administration, state law provides that the contract with the service department will come into effect within 30 days of the contract being signed.

As it was the fall in May With the contracts for police and fire brigade, city councilor Gayle Teresi was supported by councilors Robert DeJohn and Donald Manno against the service contract. The service department contract is the last to be billed.

“We’re all in favor of everyone getting a raise,” Teresi said when she was contacted on July 15. “Our service department, our fire brigade and our police are great – we are not taking that away. It’s just that when we (council and administration) spoke at the beginning, just before the contracts were approved, it said (workers) would get a lump sum and it came back 2.5 (percent) and a lump sum every year . That wasn’t what we talked about, we either talked about it, or we did.

“If you make $ 80,000 (per year) you will make $ 3,200 more,” she said of the bonus. “But our directors make more than $ 80,000. Some make $ 120,000 or more. “

The city expects $ 1.8 million this year and the same amount as its share of the federal rescue plan (ARP) in 2022. Mayor Anthony DiCicco said the bonus money will be paid thanks to city workers who continued to work during the pandemic. The ARP money can be used to pay for the bonuses that DiCicco said will total around $ 350,000. The bonuses, he said, are only paid once.

Instead of spending the money on bonuses, Teresi would like to see the money spent to help the residents.

“There are many elderly (residents) with permanent home incomes who cannot fix the driveway if they are cited by the building authorities,” she said. “You can’t put a new roof on. You’re from Social Security. They just don’t have the money so why don’t we help them? Let’s just do something for the residents and give our employees 2.5 percent for three years. “

Teresi said it would also help the city help residents modernize their homes.

“And when that elderly person is gone – moves, sold, dies, God forbid – their house would be in better shape to be sold.”

Speaking of the city’s desire to use the ARP money for bonuses, she said, “It’s like a kid in a candy store – you know you get this (ARP) money, so we’ll just spend it.”

The July 12 meeting included residents from Marnell Avenue ask the city for help with their flooded basements. A problem that residents have been discussing with the city administration for several years.

“These people came to the meeting (to make complaints),” Teresi said. “One woman spent $ 63,000 keeping water out of her basement. She waterproofed her entire house. We made Dye testing last March and by now (the city) should have figured it out (flooding problems). So let’s do something for the residents. It’s (ARP) free money, ”Teresi said.

“Let’s take something from the plate. Let’s help the elderly. Let’s help our housing stock or our own home. Let’s fix the sewers. These people cannot sell their houses. Some of them, their insurance company, are no longer taking damage because they have had so many claims. ”Teresi said there are other homes in the area that have also been hit by floods, including those on Ascot and Bellingham streets.

Regarding spending the ARP money, DiCicco said, “We’re still talking about what we’re going to do with it. The sewers, we’ve got to find out what’s going on with the sewers over there. Dan Gerson, our city engineer, found some leaks between the rainwater and the sewer system during the main paint tests. So something needs to be fixed.

“I think it was about $ 300,000 worth of repairs. It’s good. We’ll go ahead and do this, but testing still needs to be done to find out exactly what needs to be done before we invest any money. We intend to fix whatever we find there. This (ARP) money can be used for this. “

DiCicco went on to say that the cash for the employee bonuses can come from the ARP fund or from the city’s general fund.

“We also have money to fix the sewer problems. It’s just a matter of figuring out what needs to be done. It’s not like you can’t do one thing and can’t do the other. We are in a sufficiently good position to carry out the (sewer) repairs and still take care of our employees. “

In other news

More news from the July 12th Council meeting:

– A request for acceptance of bids for Asphalting the entire Woodhawk Drive stayed on the table. DiCicco said it is still unclear whether the surface renewal will happen this year.

– During a full committee meeting on July 12th, the advice was heard from representatives from LevelHEADS Inc., an architectural firm that is working with the urban engineer GPD Group in hiring a site manager for the upcoming community center / pool project on Marsolstrasse. A very early concept of a plan was shown to the council.

“This is a very preliminary (rendering) that we saw,” DiCicco said. “They showed us what they can do. The building may not look like this when it’s built. But I liked the overall layout because the buildings are between the freeway (I-271) and the pool to shield (the pool) from the freeway.

“I think the general layout will stay the same, but now that we have chosen a site manager and set the budgets, we need to know exactly what the building will look like and what amenities we want. ”

The plan is now to demolish the current community center and build the new one a little further west on today’s parking lot. It is not yet known whether the new community center will be a story or two high.

– There were also points for planning and building Sheetz and Raising Cane’s Chicken Fingers on the Mayland Shopping Center site, which is currently being redeveloped on Mayfield Road.

“They were filed because they both need parking exemptions from the Board of Zoning Appeals,” DiCicco said. “I think it would be better if you go to the zoning board of appeal first so they can make a decision and then the council can act.”

Both companies, DiCicco said, are definitely coming to Mayland. In the case of Sheetz, a gas station that also includes a grocery store and a coffee / sandwich shop, plans have been changed so that the gas pumps cannot be seen from Mayfield Road, but located behind, at the request of local residents the building.

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Australia’s Covid restoration plans stay unsure attributable to delta variant

A person trains at the Sydney Opera House during a foggy start to the day on June 30, 2021 in Sydney, Australia. Lockdown restrictions continue as NSW health officials work to contain a growing Covid-19 cluster.

Brook Mitchell | Getty Images News | Getty Images

A recent spike in Covid cases has led Australian authorities to scramble to contain the Delta variant, which was first discovered in India.

The country has weathered the coronavirus pandemic relatively better than most, with fewer than 31,000 total cases due to strict rules on social distancing, border restrictions, contract tracking and bans.

Several major cities were blocked last week including Sydney – the capital of Australia’s most populous state, New South Wales and home to more than five million people.

On Monday, New South Wales reported 35 new local cases as Authorities take hold of it on individuals and companies for disregarding restrictions. Minister of State Gladys Berejiklian allegedly warned that the situation in the next few days would determine whether the two-week lockdown in Sydney is extended beyond July 9th.

Last week of Australia national cabinet agreed halve the number of international travelers allowed to enter the country by July 14 as part of a four-stage reconstruction plan. With a few exceptions, foreigners are usually denied entry.

Prime Minister Scott Morrison said a testing program would allow some vaccinated travelers to self-isolate at home to ease pressure on Australia’s quarantine system.

Australia is still in the early stages of its plan, which emphasizes vaccines and social restrictions to minimize community transmission, according to the Cabinet. The next three phases would be re-vaccination, consolidation and finally the reopening of the borders.

Uncertainty remains

The federal recovery plan requires more precision, which would provide more security to Australian companies looking to reopen, according to Jennifer Westacott, CEO of the Business Council of Australia.

“We need some really clear goals. We need a really clear threshold. We need these to be realistic, ”she said on CNBC’s MondaySquawk box Asia.

“Companies can start planning. Airlines can start planning. Small businesses can start planning. We need a little more precision, ”she added.

Many companies, including farmers, rely on international workers. Longer border closings mean there will be a labor shortage at least until 2022 if the borders are to be reopened for the time being.

Westacott said Australia’s recovery plan should take a phased approach, allowing more skilled international workers to fill vacancies as vaccination rates rise.

“We can’t wait for professionals to come into the country in 2022,” she said, adding that such a delay means that Australia’s “capacity to ramp up is slowing, but also that companies are just doing nothing here.”

Slow vaccine rollout

Mixed messages around the AstraZeneca vaccine from the Australian government and the advisory council that advises the country’s health minister on vaccine issues have been “really problematic,” according to Archie Clements, vice-rector of the Faculty of Health at Curtin University.

“If you look at the vaccine adoption statistics, the vaccine surge slowed through June, and I think that’s mostly because of the mixed messages around AstraZeneca,” he told CNBC.Road signs Asia” On Monday.

The Australian Technical Advisory Group on Immunization prefers that people under the age of 60 receive the Pfizer vaccine – which is in short supply – to avoid the risk of an extremely rare bleeding disorder associated with the use of AstraZeneca syringes. The government, meanwhile, says these people can choose AstraZeneca after consulting their doctors.

“The federal government should have been very supportive of AstraZeneca from the start, really should have sponsored it. It’s a very safe vaccine,” said Clements, pointing out that only a tiny number of people had severe reactions to the vaccination.

“We should encourage everyone to get vaccinated and take whatever vaccine they have, whether it’s AstraZeneca or Pfizer,” he said.

Bids for Kansas Metropolis Southern present bargains stay in market

The Bidding war for railway operators Kansas City South shows that investors can still find undervalued stocks in the market, CNBCs Jim Cramer said Wednesday.

The “Bad money” The host said he understood those concerned about a generally frothy environment and pointed to the exploding interest in cryptocurrency Dogecoin, NFTs and SPACs in the last few months.

“But every time I worry about the craziness, it reminds us that stocks may be a lot cheaper than you think, at least for other companies willing to pay for the whole company, even if you are do not do.” “Said Cramer.

Take a look at the competing bids for Kansas City Southern, he said.

On Tuesday, Canadian National Railway announced his Offer to purchase Kansas City Southern in a deal that valued the company at $ 325 a share.

That is higher than a The planned transaction was announced late last month from the rival Canadian PacificThe company had then signed a stock and cash agreement with Kansas City Southern that valued the Missouri-based company at $ 275 per share.

While Canadian Pacific criticized the Canadian Nation’s “unsolicited offer” Cramer said the situation offers equity investors a lesson in analyzing the market.

A Kansas City Southern (KSC) Railway locomotive travels through Knoche Yard in Kansas City, Missouri on Tuesday, January 7, 2020.

Whitney Curtis | Bloomberg | Getty Images

Kansas City Southern, with its exposure to Mexico and the country’s auto industry, has a really important business that has apparently been overlooked, Cramer said.

“The market was clearly completely wrong about this – otherwise you would have received not one but two large tender offers,” said Cramer. “That shows you that before the first offer from the Canadian Pacific, Kansas City Southern was massively undervalued. And yes, I think the other railroad operators have a better understanding of what KSU is worth than Wall Street.”

It’s important not to extrapolate too much, warned Cramer. “That doesn’t mean every company is a bargain. Some of them are too big to buy, others are really too expensive,” he said, while adding antitrust concerns will get in the way of other deals.

At the same time he claimed, “There are many companies like Kansas City Southern.”

“This deal makes you think about it the next time you hear someone whine about how expensive stocks are,” said Cramer. “Sometimes companies in the same industry are willing to pay a lot more for a stock than the market. I think that’s a very encouraging sign. So don’t be discouraged when so many people insist on buying what you believe.” that they have it. ” no value at all. “

Capitol riots: Pelosi says she could be open to abandoning 9/11-style fee if efforts stay stalled

“It’s always an option,” said Pelosi USA today published in an interview on Tuesday. “It’s in no way my preference. My preference would be to have a commission.”

A commission of this kind would have to be set up by statute, which is approved by both chambers and legally signed by the President. The commissioners would not be elected leaders, but would come from outside the government.

The 9/11 panel was chaired by a former Republican governor with a former Democratic congressman as vice chairman. Its members included other former lawmakers and government officials from both parties.

A Plan designed by Democrats The commissioners are due to submit their report by the end of the year. The commission would then end 60 days after the report was published.

But both Republicans and Democrats involved in the negotiations say talks on the issue have stalled with little communication between the two sides. Although Pelosi has not agreed to a 50:50 partisan split in the commission, she argues that the real problem is that the GOP is unwilling to focus the probe specifically on what led to the uprising. Republican leaders have argued that political violence in general should be a subject of investigation.

Pelosi told the newspaper that it will soon enact laws to strengthen security measures in the Capitol, as no action has been taken since then retired Lieutenant General Russel Honoré, who led a security review at the Capitol after the uprising issued his recommendations.

Pelosi said in an interview that the mob that stormed the Capitol in an attack that killed five dead wanted to kill them but felt safe because of the security around them.

“That’s what they wanted,” she told USA Today.

The spokeswoman said she would never forgive the rioters for the trauma the attack caused to lawmakers and employees, who were locked into a lockdown as security officials struggled to regain control of the iconic building when it was momentarily disturbed by the crowd trailer at that time was overtaken. President Donald Trump.

This story has been updated with background information.

CNN’s Annie Grayer, Jeremy Herb and Ryan Nobles contributed to this report.

Shares are buying and selling on reopening optimism, however dangers stay

The stock market is betting on reopening optimism, which will cause technology stocks to fall and cyclical stocks to rise in Tuesday’s session, CNBC’s Jim Cramer said.

While key averages were all down at close of trading, Cramer said the action was defined by a decline in consistent operators and an increase in sporadic boom-and-bust stocks.

“It’s all about optimism folks. Investors vote with their feet.”Bad money“Host said.” You’re leaving those secular growth stories, the stocks of companies that do well regardless of whether the economy is hot or cold. Instead, they find their way into stocks of companies that only make big bucks when business is booming. “

The comments come after the overall market pulled back on Monday’s gains that followed a tough sell-off last week. The Dow Jones industry average Tuesday fell 144 points to 31,391.52, down 0.46%. The S&P 500 pulled back 0.81% to 3,870.29. The tech heavy Nasdaq Composite fell 1.7% to 13,358.79.

The S&P sector indices, with the exception of materials, also traded lower during the session. The market was toughest in tech and consumer staples, with both indices dropping more than 1% along with the Nasdaq.

Cramer said the market activity reflects investors betting on the chances that citizens will soon be able to drop their Covid-19 protective masks and that states will soon be dropping coronavirus restrictions thanks to the country’s advances in vaccines The economy can return to normal. Still, a tug-of-war remains between those who are optimistic and those who are cautious, he added.

The governors of Texas and Mississippi on Tuesday announced plans to lift mandates to wear masks and all restrictions on doing business in their states.

“You bet we’ll soon be able to rip our masks off and get back to normal, and that’s the core of this market right now,” Cramer said. “Right now, it’s the people who believe our long national nightmares are over. They are the ones who win.”

However, he warned that the moment in the market is still prone to risk. Cramer said the country could reopen too quickly and that variants of the virus, such as the strain first spotted in South Africa, could lead to further spikes if the country drops its guard.

While President Joe Biden expects to sign a $ 1.9 trillion stimulus package that will be on its way through Congress later this month, any hiccups in Senate enforcement could hit the market impact.

“There’s still a lot that could go wrong,” said Cramer.

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