(Bloomberg) — Goldman Sachs Group Inc. delayed the return of its U.S. staff to the office by another two weeks as it looks to wait out the Covid-19 surge nationwide.
Boris Johnson’s government cut the self-isolation period in England to five days from seven as the surge in omicron sparked staff shortages at hospitals, schools and businesses. France eased border restrictions for U.K. travelers who are vaccinated, while Germany reported record new infections for a second day.
China detected omicron in a second major port city, deepening concern about a wider outbreak at Beijing’s doorstep and raising the prospect that more foreign businesses would halt operations along the northeastern coast. Crowds at the Australian Open will be capped at half capacity as authorities in host city Melbourne worry about surging infections.
Key Developments:
- Virus Tracker: Cases top 315.3 million; deaths pass 5.5 million
- Vaccine Tracker: More than 9.57 billion shots administered
- Chinese Port Congestion Grows as Ships Try to Avoid Virus Curbs
- China faces mounting economic damage from Covid-zero policy
- Covid Loses Most of Infection Capacity After 20 Minutes in Air
Goldman Delays Return to Office (8:57 a.m. NY)
Goldman Sachs delayed its return to office for staff in the U.S. by another two weeks, with employees told they could delay returning to Feb. 1, according to a person familiar with the matter.
The bank’s management, aggressive champions of having its offices filled, had to check their desire after an about turn last month amid a deluge of omicron cases sweeping across New York and beyond.
EU Travel Restrictions (8:52 a.m. NY)
Travelers from Canada, Australia and Argentina will no longer be exempted from the European Union’s travel restrictions. Member states agreed on Wednesday to remove the trio from a list of countries whose citizens are allowed to enter the bloc under the same conditions as in pre-pandemic times, officials said.
The change means that non-EU citizens won’t be allowed to travel from those countries if they’re not vaccinated, unless it’s for essential reasons.
England Cuts Isolation Time (8:50 a.m. NY)
Boris Johnson’s government cut the Covid-19 self-isolation period in England to five days from seven as the surge in omicron infections sparked staff shortages at hospitals, schools and businesses. The reduction will take effect from Jan. 17.
The premier has relied on light-touch restrictions to manage the new virus wave, and his spokesman has pointed to early signs that U.K. cases and hospitalizations are starting to fall.
Covid Testing Stocks Slide (8:48 a.m. NY)
Testing and laboratory stocks — among the pandemic’s biggest winners — are off to a choppy start in 2022, with risks building as Europe shows signs of treating Covid-19 like other endemic viruses.
Shares in Eurofins Scientific SE, BioMerieux, Sartorius Stedim Biotech and Tecan Group AG have all fallen more than 13% so far this year. There may be more downside as the pandemic is seen to enter an endemic phase in many countries, reducing demand for testing, according Delphine Le Louet, senior equity analyst at Societe Generale.
U.K. Absences Hit High (5:59 p.m. HK)
The U.K. had 3% of its workforce absent due to Covid in late December, the highest level since comparable estimates began in June 2020. Other services, which includes hairdressing and other beauty treatments, reported the highest absence levels at 7%.
Africa Vaccinations Lag (5:55 p.m. HK)
More than 340 million vaccine doses have been administered in Africa, with about 10% of the population having had two doses, according to Africa Centre for Disease Control and Prevention. Thirty nine countries have reported the omicron variant.
France Eases U.K. Border Restrictions (5:30 p.m. HK)
U.K. travelers will no longer need to self-isolate or have an essential reason to enter France from Friday as long as they are vaccinated. The French government said the travel restrictions were no longer needed given the omicron variant was now widespread in both countries. All travelers will need a negative test less than 24 hours old.
U.K. PM Family Member Tests Positive (5:28 p.m. HK)
Boris Johnson has canceled a visit to a vaccination center in Burnley after a family member tested positive for Covid-19, according to ITV. The U.K. Prime Minister won’t have to isolate but is taking advice not to travel.
Johnson bought some breathing space by apologizing for attending a party at his Downing Street office during the first pandemic lockdown, but anger in his ruling U.K. Conservative Party means his grip on power is precarious.
Astra Touts New Booster Data (5:07 p.m. HK)
AstraZeneca touted fresh data supporting the use of its vaccine as a booster, potentially brightening the outlook for a shot that’s been sidelined in the U.S. and Europe.
A preliminary analysis showed a third dose of Astra’s shot increased immune response against the beta, delta, alpha and gamma variants. The results were valid for both people who had previously received the company’s shot or messenger-RNA vaccines. A separate analysis showed increased antibody response against omicron.
Philippine Cases Hit New High (4:41 p.m. HK)
The Philippines’ daily infections reached a new record-high Thursday, with 34,021 reported cases. The percentage of tests turning positive also rose to a new record of 47.9%. Hospital beds across the Southeast Asian nation are nearing half capacity.
China Closes Two Xi’an Hospitals (4:24 p.m. HK)
Xi’an has temporarily closed two hospitals after poor management led to delays in the diagnosis and treatment of critically ill patients and deaths, slashing medical capacity in the city battling China’s worst outbreak since Wuhan. Shares in Xi’an International Medical Investment, which owns both hospitals, fell by the 10% daily limit in Shenzhen after the announcement.
Ireland May Ease Curbs (3:24 p.m. HK)
Senior Irish government figures have signaled they may ease restrictions later this month after a cabinet meeting was cautiously optimistic, suggesting the worst of the pandemic may have passed, according to the Irish Times. Ireland reported 20,909 cases on Wednesday as the government relaxed self-isolation requirements.
Italy Readies Small Pandemic Aid (3:17 p.m. HK)
Italy’s government is working on a spending package to bring relief to sectors hit by the surge in infections, such as tourism, and refinance furlough programs, people familiar with the matter said. The measures could be announced as early as next week and would rely on existing resources, currently estimated at around 2 billion euros ($2.3 billion), the people said.
UAE Urges Return to Normal (3:15 p.m. HK)
The United Arab Emirates plans to focus on testing and vaccination to keep its economy open amid a rise in cases, its trade minister said. “Omicron is way less impactful than delta and even during delta we haven’t locked down the country,” Thani Al-Zeyoudi, the minister of state for foreign trade, said in an interview with Bloomberg TV.
Qantas Cuts a Third of Capacity (2:03 p.m. HK)
Qantas Airways is cutting flight capacity as the omicron variant sweeps through Australia and across the globe, reversing an expected pickup in travel. Domestic capacity for the quarter is expected to be about 70% of pre-Covid levels, compared to a previous forecast of 102%, the carrier said. International capacity is seen falling to around 20% of pre-Covid levels from 30%.
South Korea Tightens Rules for Visitors (1:52 p.m. HK)
South Korea is tightening rules for visitors after infections among those who traveled overseas increased, shortening the PCR test requirement to 48 hours in advance of entry, compared with 72 hours previously. The number of confirmed cases found among people who visited overseas rose to 391 from 200 in the second week of December.
Germany Hits Another Record (1:30 p.m. HK)
Germany registered 81,417 new cases, a record for a second straight day, as the omicron variant continues to spread rapidly in Europe’s biggest economy. The seven-day incidence rate per 100,000 people climbed to 428, closer to the all-time high of 452 scaled at the end of November.
Tokyo Raises Alert Level (1:10 p.m. HK)
Tokyo raised its Covid-19 alert to the second-highest level as the number of infections grows rapidly, with experts warning that omicron is quickly replacing delta. Officials also raised the alert over the medical situation by one notch from the lowest level. Japan’s capital is set to report more than 3,000 new coronavirus cases on Thursday, FNN reported, citing an unidentified official.
H.K. Experts Recommend Two Masks (12:50 p.m. HK)
High-risk people should consider wearing two face masks to guard against contracting the omicron variant, two Hong Kong virus experts said, as the city attempts to stamp out an outbreak.
Wearing a cloth mask over a surgical mask can “tighten the gap not covered by the surgical mask, which is often very loose,” said David Hui, a professor at the Chinese University of Hong Kong and a member of the government’s scientific committee. He recommended the measure for high-exposure groups, people in outbreak areas and on public transport.
Hong Kong May Hack BioNTech Shot (10:49 a.m. HK)
Hong Kong’s vaccine advisory panel recommended giving a partial dose of BioNTech’s shot to younger children, resorting to an “off-label use” amid supply shortages for a pediatric formulation. The move would “facilitate the timely extension” of vaccine coverage for those age groups, the government advisers said in a statement.
Australian Open to Curb Crowds (10:05 a.m. HK)
Crowds at the Australian Open will be capped at half capacity as authorities in Melbourne worry about increasing omicron infections and hospitalizations. Spectators will be required to wear face masks and density limits will apply for all indoor hospitality areas when the tennis tournament starts Monday.
Victoria’s health-care system is under pressure as thousands of its workers are furloughed after being exposed to the virus. The state recorded 37,169 new infections Thursday, up from 7,442 at the start of the year, while hospitalizations have more than doubled to 953 in the same period.
In Australia’s most populous state, New South Wales, more than 92,264 new infections were recorded Thursday. The state has 2,383 people hospitalized with Covid, up from 903 at the start of the year.
China Detects Omicron in Second Port City (8:13 a.m. HK)
China detected omicron in a second major port city, deepening concern of a wider outbreak at Beijing’s doorstep and raising the prospect that more foreign businesses might follow Toyota in halting operations along the northeastern coast.
Chinese officials said Thursday that at least one person was infected with omicron in Dalian, a city of seven million. A second person in Dalian has also tested positive with the virus, but the variant is unknown.
A broader spread of omicron is bad news for China. With just three weeks to go before the winter Olympics are set to begin in Beijing, China has put in place some of the world’s toughest measures to stamp out the virus.
Blackstone Tells U.S. Staff to Get Boosters (8:07 a.m. HK)
Blackstone is requiring U.S. staff to get booster shots to work in the office, joining Wall Street firms stepping up pressure on their workforces to get jabs and take more tests. The firm told employees they must get boosters “as soon as practically possible” and office workers will need to be tested on-site three times a week, a spokeswoman said.
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