US monkeypox outbreak is slowing, says CDC director

Monkeypox continues to spread across the United States, but the pace of new cases has slowed in recent weeks, Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, told lawmakers on Wednesday.

While the virus is still spreading rapidly in certain regions of the U.S., the rise in new monkeypox cases across the country and globally has slowed in recent weeks, she told the Senate Committee on Health, Education, Labor and Pensions Wednesday.

“We approach this news with cautious optimism,” she said at a hearing.

The US is working to contain the world’s largest monkeypox outbreak, with more than 22,600 cases in all 50 states, Washington DC and Puerto Rico, according to CDC data.

The disease is rarely fatal but causes painful lesions that resemble pimples or blisters. According to Walensky, there has been one confirmed death in the United States as a result of the disease.

The Jynneos vaccine, manufactured by Danish biotech company Bavarian Nordic, is the only approved monkeypox vaccine in the United States. Two doses are given 28 days apart, and CDC officials say getting the second shot is crucial for those at risk. After the second dose, it takes two weeks for the immune system to reach its maximum response.

People with monkeypox should stay home until the rash has healed and a new layer of skin has formed, maintain a safe distance from other people, and not share objects or materials with others, CDC guidelines say.

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Most enterprise house owners do not rely on their most dear asset

Many small business owners do not know what their business is worth, a practice that can amount to a risky business.

A whopping 98% of small businesses surveyed by M&T Bank over the past two years did not know the value of their businesses. This is especially troubling since for most business owners, their business is their most valuable asset.

“People whose home is their main asset want to know what it’s worth. When you open a brokerage account, you want to know how much it’s worth. You would never give your money to a financial advisor who would tell you to trust them while investing it and never tell you what it’s worth,” said Travis W. Harms, who heads Mercer Capital’s family business advisory group. “Just because your business isn’t a liquid asset doesn’t mean it isn’t a real asset.”

Here are five points to help entrepreneurs understand the importance of valuing a business.

Valuation is crucial to running a business and selling it

Many business owners may be too overwhelmed with day-to-day operations to focus on evaluating their business. Others don’t want to spend the money or just don’t realize the importance of having an objective measure of third-party value.

However, an assessment can be critical for many reasons. These include an impending sale, the issuance of stock options, succession planning, tax and estate planning, raising capital, executing a purchase-sell agreement, insurance needs or raising corporate financing, said Robert King, a partner in Crewe’s investment banking team.

Suppose you want to give company shares to a family member. Understanding business valuation is important for tax and estate planning purposes. Another reason to value the deal is to serve as a checkpoint so partners are all on the same page. Even if there is a sale-purchase agreement, there can be disputes over how a company is valued for the purpose of separation. Having realistic expectations for the company can prevent a protracted and chaotic struggle for the company’s value when the time comes for owners to separate, Harms said.

It’s also important to know the current value of your business, since many owners don’t plan to sell their business until a suitor knocks, said Brett Dearing, a partner and exit planning specialist at wealth management firm Cerity Partners. If you don’t have a current rating, you’re at a disadvantage from a negotiation perspective. You could either have too rosy prospects for your company or, conversely, grossly underestimate its potential.

“Many business owners don’t understand the value of their business before they sit down at the negotiating table with a buyer,” Dearing said.

Certified experts exist to evaluate your business

One of the best ways to find an expert to rate your business is through one of three certification bodies.

The Accredited in Business Valuation certification is awarded by the American Institute of Certified Public Accountants to CPAs and qualified valuation professionals who meet the requirements. There is also business appraisal certification from the American Society of Appraisers. And the National Association of Certified Valuators and Analysts offers the Certified Valuation Analyst designation.

While either of these certifications alone does not guarantee a valuer’s quality, given the expertise these designations require, it should be your basic starting point, business valuation experts said.

The cost of calculating a rating varies

There is no one-size-fits-all answer to the question of cost, as it depends largely on the size and complexity of the business, the amount of work required, and the purpose and intended use of the assessment, Harms said.

Given these parameters, a valuation could cost anywhere from about $5,000 to about $50,000, according to valuation experts. Make sure you tell the reviewer exactly why you want a review so they deliver what you’re asking for.

Some of the assumptions that go into an assessment for estate planning purposes or the issuance of equity compensation could be significantly different than those used to raise capital or sell a company, King said. “One size doesn’t fit all,” he said.

Business owners should update this asset regularly

Depending on what you need the assessment for, this can be annual or every few years.

It can also be done more frequently when trying to grow your business. M&T Bank offers a free digital platform that companies can use to model how different scores would affect their valuation. It’s not an accredited assessment, but the service provides a baseline before you take the next step, said Jonathan Kolozsvary, director of new ventures at M&T Bank.

A regular assessment of the company can help you identify weaknesses and make improvements. “If you go through the valuation process and the value isn’t quite where you want it to be, you can improve the valuation based on the areas identified,” said Tami M. Bolder, director of the CBIZ Valuation Group. “It’s also useful for general planning purposes,” she said.

Cheryl Burke and Matthew Lawrence are getting divorced

Cheryl Burke and Matthew Lawrence move forward.

The couple have agreed to split their two properties evenly as part of their split, E! received legal document. News of September 14th. Both Cheryl and the Boy Meets World graduate get to keep one of their two homes. And while the plots have been settled, the two ex-boyfriends have yet to decide who gets to keep their dog, Ysabella.

In the documents, neither Cheryl nor Matthew asked for spousal support, with the two agreeing to maintain their prenuptial agreement.

E! News has reached out to Cheryl and Matthew’s representatives but has not yet received a response.

The Dancing With the Stars pro filed for divorce in February after three years of marriage. In the documents at the time, she cited irreconcilable differences as the reason for their separation.

Biden declares first spherical of funding for EV charging community in 35 states

President Joe Biden on Wednesday announced the release of the first round of funding for a nationwide electric vehicle charging network that will fund the construction of stations in 35 states.

“I’m pleased to announce that we are approving funding for the first 35 states, including Michigan, to build their own statewide charging infrastructure,” Biden said at the Detroit Auto Show, facing a barrage of electric vehicles.

Biden was a big proponent of electric vehicles, Legislative incentives signed to encourage consumers to buy and businesses to build. The bipartisan Infrastructure Act provided $7.5 billion for a national electric vehicle charging network, while the Inflation Reduction Act and the CHIPS and Science Act both contained provisions designed to encourage the development of the industry in the United States.

“They will all be part of a network of 500,000 charging stations — 500,000 — across the country installed by the IBEW,” Biden said, Referring to the International Brotherhood of Electrical Workers union.

Biden noted that his administration has poured $135 billion into developing and manufacturing electric vehicles.

“You used to have to make all sorts of compromises when buying an electric car, but not anymore,” Biden said. “Look, the great American road trip will be fully electrified, whether you’re driving coast-to-coast along I-10 or on I-75 here in Michigan, charging stations will be as easy to find as they are now.”

The lack of ubiquitous chargers remains one of the biggest obstacles to electric vehicles nationwide. The tax credits included in the Inflation Reduction Act are intended to give Americans incentives to buy electric vehicles, including first-time buyers of used electric vehicles.

Tesla is scuffling with Elon Musk’s strict return to workplace

Tesla Inc. CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) on August 29, 2019 in Shanghai, China.

Aly Song | Reuters

Tesla CEO Elon Musk enacted a strict return-to-the-office policy this spring and suddenly emailed employees on May 31 that they had to “spend at least 40 hours a week in the office.” Anything else, he suggested, is “call.”

Three months after the executive order, Tesla still doesn’t have the space or resources to bring all of its employees back to the office, according to company officials in the US and internal documents seen by CNBC. The people did not want to be named because they were not authorized to speak to the press on behalf of the company.

The return-to-the-office policy has also caused a drop in morale, particularly among teams that allowed pre-Covid-19 employees to work remotely when needed.

In general, prior to the pandemic, Tesla was open to remote work among employees in office functions. As the company’s workforce grew in recent years, the focus has been on establishing international hubs and a new factory in Texas. Not enough new jobs were built or enough office equipment was purchased at existing facilities in Nevada and California to bring all office workers and long-time contractors into forty hours a week.

According to several current employees working there, Tesla recently wanted to bring its San Francisco Bay Area employees into the office for 3 days a week, but a lack of chairs, desks, parking, and other resources proved too much. (Some of this was previously reported by The Information.) Instead, Tesla reset staggered office hours to two days a week.

Even simple consumables such as dongles and charging cables were in short supply. On days when more employees are scheduled to work on-site, the crowded conditions force people to take phone calls outdoors, as Tesla has never built enough conference rooms and payphones to accommodate so many employees present at once.

A blow to morale

The company now monitors employee attendance, with Musk receiving detailed absentee reports on a weekly basis.

Internal records show that as of early September, about one-eighth of employees were out on a typical day in Fremont, California, site of Tesla’s first U.S. vehicle assembly plant. At Tesla, that number was only marginally better, with about a tenth of employees being absent on a typical workday.

According to internal reports viewed by CNBC, the numbers have remained in this range since March 2022, before Musk’s orders. As expected, absenteeism increases on weekends and public holidays.

Absenteeism at Tesla is measured using data from employees checking into facilities, dividing unplanned absences by planned time off to tabulate daily totals, according to internal records and people familiar with the reports sent to Musk.

Not all employees are tracked in the same way. For example, direct reports from Elon Musk do not count towards internal reports.

The return-to-the-office policy — somber and informal as it is — has caused a significant drop in morale among some employees, according to internal news from CNBC.

Before the COVID-19 restrictions, Tesla execs in general were figuring out how much remote work was appropriate for their teams. Musk’s no-holds-barred policies have theoretically eliminated that freedom, though some executives may still be able to negotiate deals for “exceptional” employees.

In early June 2022, just after Musk mandated 40 hours on site for everyone, Tesla drastically reduced its workforce. Employees previously designated as telecommuters but unable to relocate to be in the office 40 hours a week were given until September 30 to relocate or receive severance pay from Tesla.

About a week after this offer was made internally, Tesla HR asked people who lived far away if they planned to move and work 40 hours a week in a Tesla office. Some of those who said they weren’t sure they could move, or who said they definitely couldn’t move, were fired without warning in June, according to internal correspondence obtained by CNBC and two people directly familiar with the terminations has been read.

Politics has also exhausted some of Tesla’s power to recruit and retain top talent. According to internal correspondence and two resignations confirmed by CNBC, at least some popular employees resigned because they wanted more flexible arrangements.

Some workers who lived far from a Tesla office are now living hours away from their families to meet the new requirements, an employee told CNBC.

This employee said he is most concerned about immigrant workers at Tesla, who could lose their visas if the company suddenly decides to end their roles because of the shifting attendance mandate.

They also worried about how Tesla’s narrow-mindedness about remote work might hit the company’s diversity goals.

In its 2022 Diversity Report released in July, Meta stated that “US candidates who accepted remote job offers were significantly more likely to be Black, Hispanic, Native American, Alaskan Native, Pacific Islander, Veterans, and/or people with disabilities Disabilities.” and “Globally, candidates who accepted remote job offers were more likely to be women.”

In Tesla’s most recent 2021 Impact Report, released in May 2022, the company boasted that it made employees feel connected even when working from remote offices.

The report states: “During the global pandemic, we have had a strong focus on expanding our community engagement and ensuring our employees stay connected. In particular, we have expanded our employee resource groups (ERGs) and ensured that our programs are accessible in a remote work environment. ..We made sure our employees felt heard and connected more than ever as they moved to virtual events to encourage inclusion across different locations, physical borders and time zones.”

The company hasn’t released figures on how many employees were allowed to work remotely before and after the pandemic began, or how that affected its workforce demographics.

Tesla did not respond to a request for comment.

Kate Spade 24 Hour Flash Supply: Get A $300 Crossbody Bag For Simply $59

We have independently selected these offers and products because we love them and we think you might like them at these prices. E! has affiliate relationships, so we may earn a commission if you buy something through our links. Items are sold by the retailer, not E!. Prices are correct at time of publication.

When someone asks why you have “so many pockets,” they just don’t get it. You need different accessories for every occasion. When you go to work, a large tote bag is ideal for your laptop, water bottle and other small essentials. You don’t need all that stuff for one night. A small shoulder bag will do. You have room for your essentials and you can be hands-free by wearing it as a shoulder bag or a crossbody bag. It’s all about the options, right? And of course we must not forget the prices. Unfortunately, we are not all blessed with an unlimited purse budget. If you love bargains, you’re in luck because Kate Spade is running a 24-hour flash sale.

You can get the Kate Spade Laurel Way Greer Crossbody for just $59. Normally this bag retails for $300, but there’s a today-only offer you can’t miss. An 80% discount is just too good to pass up, right?

17 million in Europe lengthy contracted Covid in first two years of pandemic: WHO

New research suggests at least 17 million people across Europe and Central Asia suffered from long-term Covid within the first two years of the pandemic.

Filadendron | E+ | Getty Images

At least 17 million people in Europe suffered from “long Covid” in the first two years of the coronavirus pandemic, according to a new study published by the World Health Organization on Tuesday.

About 10% to 20% of all Covid-19 cases reported across the region in 2020 and 2021 resulted in lasting effects that lasted at least three months, with symptoms ranging from chronic fatigue to brain fog and shortness of breath, it said the report.

Women were also twice as likely as men to have long-term illnesses from Covid. Among the severe cases that led to hospitalization, one in three women developed long-term symptoms.

The study, conducted by the Institute of Health Metrics and Evaluation at the University of Washington School of Medicine, covers the WHO Europe region, which is home to nearly 900 million people in 53 countries in Europe and Central Asia.

“Debilitating Symptoms”

Long Covid refers to a range of medium and long-term effects that can occur after a Covid infection. These can include fatigue, shortness of breath, and cognitive dysfunction such as confusion and forgetfulness.

The mental health of some people can also be directly or indirectly affected.

While the majority of people fully recover from Covid, Dr. Hans Kluge, WHO Regional Director for Europe, said the findings underscore the urgent need for further analysis and investment in monitoring the long-lasting effects of the disease.

“Millions of people in our region, which stretches across Europe and Central Asia, are suffering from debilitating symptoms many months after their first Covid-19 infection,” Kluge said.

“You can’t go on suffering in silence,” he continued. “Governments and health partners need to work together to find solutions based on research and evidence.”

Cases of long Covid rose more than 300% in 2021 compared to 2020, consistent with the protracted nature of the disease, the study says.

An estimated 145 million people worldwide developed Long Covid in 2020 and 2021, according to IHME data.

The Director of IHME, Dr. Christopher Murray said the findings should also raise awareness of the impact of long Covid on mental health and well-being in the workplace.

“Knowing how many people are affected and for how long is important for health systems and government agencies to develop rehabilitation and support services,” Murray said.

Jen Psaki says Trump is giving Democrats a lift

Former White House press secretary Jen Psaki said Trump is energizing Democrats for the midterms.

Video:

Psaki told MSNBC’s Alex Wagner:

Nothing is more driving and exciting for Democrats than Donald Trump. You love to face him. Independents do not want to see another reign from Trump. And the more he engages in the race, the more he lines up there, the more it reminds people of what’s at stake.

And having Trump on the ballot is a hugely stimulating factor in many of these races. I’ll also say, since he asked me about the midterms, that while I think many Democrats feel better about how they should, there’s still a long way to go here.

Trump is a driver of Democratic turnout. Democrats and anti-Trump independents as well as anti-Trump Republicans love to show up to smack him. It’s true that abortion is driving the rise in Democratic voter registration and turnout, but Republicans have also been harmed by Trump and his legal troubles, which were sucking the life out of the Republican midterm campaign.

Donald Trump also hurt Republicans by interfering in the Republican primary and allowing ineligible candidates to be nominated. Trump is a stimulating factor for Democrats in the midterm elections, and his presence could increase the chances of Democrats retaining Congress.

Mr. Easley is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

Michael Jordan’s Cincoro tequila model is launching a brand new $350 mix

Cincoro was created in 2019 by NBA owners Michael Jordan of the Charlotte Hornets, Jeanie Buss of the Lakers, Wes Edens of the Bucks, and Emilia Fazzalari and Wyc Grousbeck of the Celtics.

Source: Cincoro Tequila

They are rivals on basketball’s biggest stage. But when it comes to tequila, they’re friends.

Cincoro, the label founded by five National Basketball Association team owners including Hall of Famer Michael Jordan, announced a new blend of its award-winning tequila on Wednesday. Cincoro Gold, which is aimed at the luxury market, will be available in limited quantities beginning in October and will retail for $349.99 per bottle. It is Cincoro’s fifth mix.

Jordan himself promises nothing less than “the best tequila in the world” – strong words from the man often referred to as the greatest basketball player in the world.

“While the tequila space may be crowded, we are fierce competitors and our portfolio reflects our passion and commitment to producing truly delicious and exceptional expressions,” the Charlotte Hornets owner told CNBC.

He will be joined by Los Angeles Lakers owner Jeannie Buss, Wes Edens of the Milwaukee Bucks ownership group, and Wyc Grousbeck and Emilia Fazzalari of the Boston Celtics. It started coming together in 2016 when Jordan, Buss, Edens, Fazzalari and Grousbeck made plans for dinner in New York City ahead of NBA meetings. While waiting for their table, the owners realized they had more in common than just basketball. They also shared a love of tequila.

“It was the first time the five of us got together for dinner and something very special happened that night as we bonded as friends and arch-rivals,” Fazzalari said. “We started talking about how much we all love tequila, and we realized that we have this common passion.”

Their discussions continued to develop and they saw an opening of the market. Fazzalari said they made over 1,000 tequilas before finally landing on their flavor profile. The meetings and tastings were often scheduled around NBA board meetings.

“Michael in particular taught us how to drink tequila. He taught us how to sip tequila,” she said. “He taught us that he likes to drink it neat or with a big rock and always a slice of orange, and you know it’s just about relaxing and enjoying the moment.”

In just three years, the label has sold 1.5 million bottles nationwide and won 23 awards at accredited spirits competitions, according to Cincoro. Fazzalari said the tequila can be found in every major hotel chain, leading restaurant groups and many independent liquor stores across the country.

“Our strategy is to expand our distribution in the United States and then look overseas,” she added.

While brands like Cuervo, Patron, Don Julio and George Clooney’s Casamigos control the majority of the market, IWSR Drinks market research data shows that Cincoro is a top 20 brand in terms of retail value proposition to the tequila category.

“The top 10 tequila brands in the US make up almost 70% of the category value, so it’s very concentrated. The remaining 30% is split between dozens of smaller brands, including Cincoro,” said Brandy Rand, IWSR’s chief strategy officer.

Cincoro said it strives to differentiate its product through unique flavors and its aging process. They begin by harvesting agave plants that are at least seven years old in Jalisco, Mexico. The agave is slowly cooked and fermented for six days and then aged in whiskey casks. Its newest product, Cincoro Gold, blends all of the previous expressions together to create a richer flavor. Fazzalari describes it as “reminiscent of a finely aged Scotch or Cognac”.

In just three years, Cincoro has sold 1.5 million bottles nationwide and won 23 awards at accredited spirits competitions.

Courtesy: Cincoro Tequila

So far, Cincoro is proving to be a good investment for owners as the spirit continues to grow in popularity. Tequila is one of the fastest growing spirits categories in the United States, according to the IWSR.

Over the past year, total volume has grown by almost 17% and value by more than 27%. The super premium tequila category and above — brands in the $30+ price bracket — are seeing even greater growth, with volume up 36.5% and value nearly 40% over the past year. By the end of next year, tequila is poised to become the largest spirits category by value in the US.

Jordan and his friends might be on to something. Tequila brands with celebrity ties have seen rapid success. According to the IWSR, celebrity tequilas soared at a compound annual growth rate of over 50% between 2016 and 2021, bringing in $1.9 billion in global revenue in 2021 alone. From Dwayne “The Rock” Johnson to Nick Jonas to Lebron James, a tequila brand is a hot commodity.

In 2013, Clooney launched Casamigos. It started out as a mix shared by his family and friends and became an instant hit. In 2017, Clooney sold Casamigos to Diageo for $1 billion. Today it is the #3 tequila brand by market share in terms of value and volume.

“Celebrity participation brings sophistication to the category, and celebrities are organically expanding the demand base for tequila by attracting a global and diverse group of followers and fans,” Rand said.

EU courtroom upholds antitrust judgment in opposition to Google, however reduces fantastic

The flag of the European Union can be seen with the Google logo.

Jaap Arriens | OnlyPhoto | Getty Images

The General Court of the European Union on Wednesday upheld an antitrust ruling against Google’s parent company Alphabet, but reduced the fine from €4.34 billion to €4.125 billion ($4.12 billion).

The dispute between Google and the EU courts over whether Google uses the Android operating system to eliminate competition was initiated against the company in 2015.

The court “broadly upheld the European Commission’s decision that Google imposed unlawful restrictions on Android handset makers and mobile network operators in order to consolidate the dominant position of its search engine.”

In a statement to CNBC, Google said: “We are disappointed that the court did not overturn the decision in full. Android has created more choice for everyone, not less, and powers thousands of successful businesses in Europe and around the world.”

The first fine was imposed by the European Commission in 2018 and was the largest Google has ever received. It said that around 80% of Europeans used Android and that Google gave its apps like Chrome and Search an unfair advantage by forcing smartphone markets to pre-install them in a bundle with its App Store Play.

Google claims that Android phones compete with iOS phones, Apple’s operating system, and that using Android still gives consumers a choice between phone maker and carrier and the ability to remove Google apps and install others.

In Wednesday’s ruling, the court said the new fine was “reasonable given the seriousness of the infringement.”

It emphasized that Google’s business model “is primarily based on increasing the number of users of its online search services so that it can sell its online advertising services”, while Apple focuses on selling higher-end smart mobile devices.

Google argues that this allows it to keep the majority of its services free.

The company can still appeal the judgment before the EU’s highest court.