Banks Halt U.K. Office Return; India Deaths Climb: Virus Update

Laveta Brigham

(Bloomberg) — HSBC Holdings Plc and Goldman Sachs Group Inc. paused plans to return workers to their London offices after British Prime Minister Boris Johnson announced new restrictions and urged residents to work from home where possible.

The U.S. death toll from the novel coronavirus exceeded 200,000, a grim milestone that comes eight months after the pathogen was first confirmed on American soil. India’s fatalities topped 90,000.

France’s new infections jumped above 10,000 after a weekend lull, while South Korea’s daily cases climbed above 100 for the first time in four days.

Key Developments:

Global Tracker: Cases top 31.6 million; deaths exceed 970,000CDC urges changes to holiday celebrations to curb virusMany of Covid’s biggest retail winners don’t even sell onlinePubs warn that Johnson’s Covid curfew will crush industryHow do people catch Covid-19? Here’s what experts say: QuickTake

Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here.

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Boris is in danger of losing business

Laveta Brigham

Boris Johnson addresses the nation: REUTERS
Boris Johnson addresses the nation: REUTERS

Has Boris lost business? Perhaps not yet, but that is his direction of travel.

The business community is typically, naturally, supportive of Conservative governments since it assumes the same goals, such as freedom to make a profit, get rich, pay less tax.

What it craves most of all is some sort of certainty.

At its best British business is innovative, nimble and in fierce competition.

We saw that best in the early and ongoing responses to Covid-19. Business leaders from the guy who runs the pub at the end of my street to the chief executive of Next saw a crisis emerging, but also a chance to show what they are made of.

They flipped all sorts of old certainties into the bin and cracked on.

The publican sold his excellent food online and offered takeaway beer.

Simon Wolfson, the Next boss, noted in

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Tesla’s value dropped by $50bn after Musk said cheaper batteries three years away

Laveta Brigham

Tesla CEO Elon Musk, at the construction site of the new Tesla Gigafactory near Berlin. Photo: Patrick Pleul/picture alliance via Getty Images
Tesla CEO Elon Musk, at the construction site of the new Tesla Gigafactory near Berlin. Photo: Patrick Pleul/picture alliance via Getty Images

The market value of electric car company Tesla (TSLA) plunged on Tuesday after chief executive Elon Musk announced that the company would make a radically cheaper new electric car battery — but that it would not be ready for three years.

Investors appeared unimpressed with the time frame of Musk’s innovations, and the company’s shares closed down 5.6% and then fell by another 6.9% after hours.

Tesla's market value plunged on Tuesday. Chart: Yahoo Finance UK
Tesla’s market value plunged on Tuesday. Chart: Yahoo Finance UK

At Musk’s so-called “Battery Day” event, the electric-vehicle pioneer told the 270,000 online audience that he promised to cut battery costs in half in the next couple of years, which would make e-cars significantly cheaper.

“In three years, we can do a $25,000 (£19,691) car that will be basically on par, maybe

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Amazon launches climate-friendly program to help shop for sustainable products

Laveta Brigham

TipRanks

Goldman Sachs: These 3 Stocks Are Poised to Surge by at Least 50%

Is it time for the bears to break out the champagne glasses? Not so fast, says Goldman Sachs. Volatility has ruled the Street for the last few weeks, leading some to conclude that those with a more pessimistic outlook had been vindicated, but the firm believes stocks can still climb higher.According to Goldman Sachs’ head of U.S. equity strategy, David Kostin, the S&P 500 could still hit 3,600 by the end of the year, and 3,800 by mid-2021, on the back of vaccine-related optimism and progress with the economic reopening. This would reflect gains of 10% and 16%, respectively, should the index ultimately reach these targets.“Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months. The Superforecaster probability of a mass-distributed vaccine by Q1

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Facing anxious teachers, Broward public schools pushes back opening of classrooms

Laveta Brigham

Pointing to unresolved details in the plan, Broward County School Board members pushed back Tuesday against Superintendent Robert Runcie’s proposal to start reopening brick-and-mortar schools by early October.

During a special workshop meeting that lasted nearly 12 hours, the Broward school district suggested elementary, K-8 and special needs students from six schools could return to classrooms on Oct. 5, and the remaining middle and high school students could follow a week later, on Oct. 12.

But after firing questions for about eight hours about missing information on the 54-page draft of the reopening plan, the nine elected school board members concluded Runcie and his team still needed to work on it.

Late into the evening, the board settled on the following timeline, although it did not vote on it: Oct. 9 and 12 would be half days for teacher planning, and Oct. 13 would be a full day for teachers

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Joe Biden battles being chronically late

Laveta Brigham

WILMINGTON, Del. (AP) — Joe Biden was running late. Again.

On a recent Friday, he’d already apologized for the delayed start to a speech, then taken more questions than expected at a subsequent press conference. When it was finally over, Biden’s motorcade sped away quickly enough to leave behind one of the journalists traveling with it.

But as the line of armored, black SUVs reached Biden’s home in suburban Wilmington, it suddenly reversed course and headed back out — this time to a nearby M&T bank branch. Biden’s next event was already supposed to be underway, a virtual fundraiser with National Democratic Finance Chair Chris Korge. Instead, he lingered at an ATM.

The former vice president later told the donors gathered online that he was sorry to have been waylaid by a “significant press conference.” He omitted the stop to withdraw pocket money.

With their packed schedules, relish for meeting

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The Ins and Outs of Selling a Fashion or Luxury Business

Laveta Brigham

The global pandemic has not only generated what looks like a prolonged economic crisis, but also shifted people’s sentiment toward consumerism. How the fashion industry will be affected in the long term is a difficult question to answer.

Looking at the medium term, there is one topic that can be immediately discussed: In the current context, is it worth thinking about selling the business you built over the last few years or decades?

In short, the answer is “yes” if you believe you’ve reached the stage where the future of your firm is more likely to benefit from being part of a large group than if it were to remain independent. As you know, a large corporation can easily flex its muscle in such areas as advertising and media buying, customer data and analytics, commercial partnerships, online and brick-and-mortar retail, IT and technology, logistics and finance.

Today, large groups tend

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‘The West Wing’ Cast Will Reunite for a Voting Special on HBO Max

Laveta Brigham

In today’s TV news roundup, the cast and creator of “The West Wing” will reunite for a voting special, and Syfy greenlit “The Pole,” an animated adult comedy show featuring Bobby Moynihan and Jillian Bell, with Nicole Byer and Colin Jost.

DATES

Somebody Feed Phil,” a show where creator and host Phil Rosenthal travels the world and explores different cuisines, will have its Season 4 premiere Oct. 30 on Netflix. The upcoming season will see Rosenthal travel to Rio de Janeiro, San Francisco, Singapore, The Mississippi Delta and Hawaii on his food-tasting mission, which also combines comedy into the mix. Rosenthal also serves as an executive producer for “Somebody Feed Phil” alongside Rich Rosenthal, John Bedolis, Christopher Collins and Lydia Tenaglia.

HBO Max revealed a that its upcoming project starring fashion designer Jenna Lyons, “Stylish with Jenna Lyons,” will premiere on

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Meghan Markle and Prince Harry Make Passionate Pleas About Voting, Online Conduct in ‘TIME 100’ Special

Laveta Brigham

Meghan Markle and Prince Harry made a special appearance during the TIME 100 special on Tuesday. From their stunning Santa Barbara home’s backyard, the Duke and Duchess of Sussex shared a brief message congratulating those being named to the TIME 100, before making a passionate plea about voting.

“We’re just six weeks out from Election Day, and today is National Voter Registration Day. Every four years, we are told the same thing, that ‘This is the most important election of our lifetime,'” Meghan said. “But this one is. When we vote, our values are put into action and our voices are heard. Your voice is a reminder that you matter. Because you do. And you deserve to be heard.”

Harry added that he’s “not going to be able to vote here in the U.S., but many of you may not know that I haven’t been able to vote in the

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Nail salons can reopen, and Joshua trees get protection under state law

Laveta Brigham

Greetings from Palm Desert. I’m Robert Hopwood, an online producer for The Desert Sun, bringing you a daily roundup of the top news from across California.

In California brings you top Golden State stories and commentary from across the USA TODAY Network and beyond. Get it free, straight to your inbox.

Finally, a pedicure? Nail salons get OK to reopen as counties move tiers 

Sunshine Nails Salon owner Anthony Mai gives Lee Rolfe, 63, of Palm Springs a pedicure inside the salon in Palm Springs, Calif., on July 9, 2020.
Sunshine Nails Salon owner Anthony Mai gives Lee Rolfe, 63, of Palm Springs a pedicure inside the salon in Palm Springs, Calif., on July 9, 2020.

Coronavirus is slowing in the Golden State, and that means you might be able to get a manicure soon. On Tuesday, the state announced its weekly revisions to its color-coded COVID-19 reopening rubric, and five more counties moved from the most-restrictive “purple tier” the red tier:  Alameda, Riverside, San Luis Obispo, San Mateo and Solano counties progressed, joining 18

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