Fauci warns latest COVID-19 wave is ‘going to get worse’


Dr. Anthony Fauci on Sunday warned that the country’s latest COVID-19 surge is “going to get worse” — but insisted he doesn’t expect the climbing case numbers to trigger any new lockdown orders.

The White House chief medical adviser acknowledged that the US has yet to turn the corner in the recent outbreak driven by the spread of the highly contagious delta variant.


“Things are going to get worse,” Fauci told ABC co-anchor Jonathan Karl on “This Week.”

But Fauci said he still doesn’t expect the nation to shut down again.

“I don’t think we’re gonna see lockdowns. I think we have enough of the percentage of people in the country — not enough to crush the outbreak — but I believe enough to not allow us to get into the situation we were in last winter,” Fauci said — referring to when municipalities across the country instituted strict rules involving mask-wearing business school shutdowns.


The average number of daily new coronavirus cases in the U.S. has nearly doubled in the past 10 days, according to a Reuters analysis.

Fauci said unvaccinated Americans are largely behind the latest outbreak of infections — blamed them for preventing the country from returning to “normal.

“You know what we really need to do. … We say it over over again, it’s the truth: We have 100 million people in this country who are eligible to be vaccinated who are not getting vaccinated. We are seeing an outbreak of the unvaccinated,” Fauci said.


“From the standpoint of illness, hospitalization, suffering death, the unvaccinated are much more vulnerable because the vaccinated are protected from severe illness, for the most part,” he said. “And getting us back to normal, the unvaccinated, by not being vaccinated, are allowing the propagation the spread of the outbreak which ultimately impacts everybody.”

To read more from the New York Post, click here.


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Google won’t let you sign in with very old Android versions after September 27th


Are you still holding on to a Nexus One for sentimental reasons? It might be time to move on. Reddit users 91mobiles have learned that Google will no longer let you sign into the company’s apps on devices running Android 2.3.7 (Gingerbread) or lower from September 27th onward. You can still sign in on the web, but you’ll have to update to at least the tablet-only Android 3.0 (realistically, Android 4.0) if you want to avoid major hassles while checking Gmail or navigating with Google Maps.

The cutoff is necessary to protect account privacy, Google said in an email to customers. We’ve asked Google if can elaborate on its reasoning.

This won’t affect day-to-day phone use for many people, as you might guess. Gingerbread earlier Android releases have so little usage share that they’ve been lumped into the “other” category for years, the hardware already struggles to handle many modern tasks. However, it does mark a rare instance of Google cutting off basic functionality for older Android versions, not just OS updates or Play Services features. Think of this as Google setting a baseline — you’ll need a device updated within the last decade to receive at least rudimentary support.

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Paytm to hire 20,000 sales execs, says will create jobs in small cities


Digital payments financial services company Paytm has started a process to hire around 20,000 field sales executives across India to educate merchants on digital adoption, according to sources aware of the development.

According to a Paytm hiring advertisement, field sales executives (FSEs) would have the opportunity to earn as much as Rs 35,000 more in monthly salaries commissions.

The company is looking to hire youth undergraduates as FSE.

“Paytm has started hiring FSEs. It is an opportunity open for individuals who have either passed Class 10, Class 12 or are a graduate. It will help in employment generation in small cities towns, especially for those who have lost jobs during the pandemic.

“The company wants to encourage more women to take up the opportunity to help educate women merchants about digital payment,” the source said.

The FSE will promote Paytm’s entire range of products including Paytm all-in-one QR Codes, Paytm all-in-one POS machines, Paytm Soundbox as well as other products across the company’s ecosystem such as wallet, UPI, Paytm Postpaid, merchant loans insurance offerings.

Paytm is also running a guaranteed cashback offer to reward merchants also offer Soundbox IoT (internet of things) devices which can be leveraged by FSEs.

The company has committed Rs 50 crore for the programme this year with a target to uplift over two crore merchants who use Paytm in their day-to-day life.

“Any individual who is at least 18 years, is Class 10 or Class 12 pass, or is a graduate has an Android smartphone, can apply using the Paytm app.

“Preference will be given to those with a two-wheeler, who are comfortable travelling have a prior sales experience. Applicants also need to have good knowledge of the local language area,” the source said.

According to data firm RedSeer’s, Paytm’s gross merchandise value (GMV) at around Rs 4 lakh crore is the highest in the payments industry.

Recently, Paytm Payments Bank crossed the 1-crore mark in issuing FASTags, which is about a third of the total tags issued by the rest of the banks in the country.

The company has filed a draft paper with markets regulator Sebi for a Rs 16,600-crore IPO; according to a source, it should get listed by October if it gets regulatory approvals within expected timelines.

(Only the headline picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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FMV of shares can be used to calculate LTCG in specific cases


I purchased 2,300 shares of Allahabad Bank for a price of 195 each in 2013. Following the merger of this bank with Indian Bank, I was issued 115 shares of Indian Bank in April 2020. I sold these shares in March this year for a price of 135 each. How do I compute capital gains in this case? Can I take the cost of acquisition of Allahabad Bank as the cost of original shares? If yes, what is my long-term capital gains total for the assessment year 2021-22? Alternatively, should I adopt the fair market value (FMV) on 31 January 2018, as grandfathered price, as cost of acquisition?

—Viswanathan K.

As the equity shares (listed on a recognized stock exchange in India) were held by you for more than 12 months from date of allotment, the gains arising out of the sale would be taxable as long-term capital gains (LTCG) in your hands.

For the purpose of computation of LTCG, the actual cost can be replaced by FMV of the shares as on 31 January 2018 (where actual cost of purchase is lower than such FMV), provided the FMV as on 31 January 2018 is lesser than the sale value. However, there is no specific clarification with respect to which FMV should be considered in the case of a share that was held by a taxpayer subsequent to a merger (i.e. FMV of the amalgamating company i.e. Allahabad Bank, or of the amalgamated company i.e. Indian Bank in the instant case).

Based on a harmonious interpretation of the provisions the intention of the law, one may consider adopting a view that the FMV of the shares in the amalgamating company i.e. Allahabad Bank as on 31 January 2018 is to be considered for the purpose of determining the cost of acquisition.

However, in the absence of express clarity on the same, the position is not free from doubt.

Parizad Sirwalla is partner head, global mobility services, tax, KPMG in India.

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Fauci ‘respectfully disagrees’ that masks are a ‘choice’: ‘Infection is impacting everyone’


White House Chief Health Advisor Dr. Anthony Fauci has rejected the idea that face masks are a “personal choice” in the face of the increasingly severe delta variant of the coronavirus. 

The United States on Thursday recorded almost 80,000 new COVID-19 cases – well below the January peak of nearly 300,000 new daily cases, but a stark rise from a month ago when daily cases were under 10,000. 

While the number of those cases driven by the more transmissible delta variant is not clear, the CDC advised in early July that the variant was likely the dominant strain in the U.S. The CDC once again advised masks whenever individuals are inside shared spaces, but many people have resisted the call to wear masks, saying they have a right to choose whether to wear one. 


“I respectfully disagree with them,” Fauci said on ABC’s “This Week.” “There are things that are individual responsibilities that one has, there are things that have to do with you individually which also impact others, the spread of infection that we’re seeing now … is impacting everyone in the country.” 

“Although you want to respect a person’s individual right, when you’re dealing with a public health situation, we are in fact in a very serious public health challenge here …  a person’s individual decision to not wear a mask not only impacts them … but you very well may infect another person who may be vulnerable,” he added. 


Health officials have maintained that the best way to fully remove the country from the pandemic – and, by default, end any mask mandate – is to continue pushing to vaccinate the nation’s population. 

The White House on Friday touted a massive push that has seen the number of new vaccinations administered slowly rise over the past two weeks. 


While the hospitalization rate has surged in the two weeks as well, with Florida alone recording 3,849 hospitalizations on July 17 21,683 new cases on Friday. Nationally, almost all hospitalizations – around 97% – have been of unvaccinated individuals. 

Republican Florida Gov. Ron DeSantis has resisted mandatory mask mandates vaccine requirements on Friday he barred school districts from requiring students to wear masks when classes resume next month.


“From the standpoint of illness, hospitalization suffering death, the unvaccinated are the much more vulnerable because the vaccinated are protected against serious illness for the most part,” Fauci explained. “But when you look at the country as a whole, the unvaccinated by not being vaccinated are allowing the propagation spread of the outbreak, which ultimately impacts everyone.” 


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