China sees fourth straight days of zero local Covid-19 cases

SHANGHAI (REUTERS) – China reported seven new coronavirus cases in the mainland for Aug 19, the national health authority said Thursday (Aug 20), down from 17 the day before and the fourth straight day of zero new locally transmitted infections.

All seven new infections were imported cases, the National Health Commission said in a statement.

There were no new deaths.

China also reported 22 new asymptomatic patients, up from 14 a day earlier.

As of Aug 19, mainland China had a total of 84,895 confirmed coronavirus cases, it said. China’s death toll from the coronavirus remained unchanged at 4,634.

Bond Yields in India Creeping Back to 6% as RBI Goes Silent

A conspicuous silence from the Reserve Bank of India regarding support for the nation’s bonds has left traders wondering whether the recent gains in yields is a new normal.

The central bank may be trying to increase the attraction of sovereign debt by letting yields rise, according to PNB Gilts Ltd. The benchmark 10-year bond yield advanced to 5.97% on Wednesday, the highest since May.

If that’s true, the RBI would be treading a delicate balance as a prolonged absence from the market could raise questions over support for the government’s record 12-trillion rupees ($160 billion) debt sales this fiscal year. Indian bonds are offering negative real rates, after a surge in inflation brought on by a supply crunch due to rolling lockdowns.

“The RBI could protect the 6% level. The level is a psychological mark that the RBI may want to see that yields don’t rise over and above,” said Vijay Sharma, executive vice president for fixed-income at PNB Gilts. The losses may deepen if the central bank abstains from its open-market bond purchases any further, he said.

New York Times food editor Sam Sifton sells Brooklyn condo, buys townhouse

Here’s some tea! New York Times food editor Sam Sifton and his wife, Christina Fallon, have sold their Red Hook prewar condo in Brooklyn for $875,000. Fallon, of Realty Collective, was also the broker.

The second floor unit is at 156 Conover St. At 850 square feet, it features one bedroom converted into two bedrooms with 10-foot ceilings and one bathroom. Fun features include a private, walled garden — all by the waterfront.

Of course, there’s a chef’s kitchen with a built in cabinet, and a 25-foot-wide bedroom area divided by a storage wall. The fab couple love Red Hook so much that they traded up, but stayed close.

Why’d the couple sell? Well, they are the new owners of a $2 million home at 172 Coffey St. The charming three-bedroom, three-bathroom, single-family townhouse dates to the 19th century. At 2,700 square feet, the red-brick property is more than triple the size of their starter pad.

Just think about all the meals to be made in that kitchen! The home features original pine plank floors. It also comes with its own private backyard.

Note to Sifton from Gimme Shelter: please keep up the good work. Your recipes and writing helped keep us all sane during lockdown.

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Australia shares set to drag U.S. counterparts lower, NZ up

    Aug 20 (Reuters) - Australian shares were set to drop on
Thursday, after Wall Street tumbled overnight on Federal Reserve
concerns that the pandemic-hit U.S. economy faces a tough road
to recovery.
    The local share price index futures          fell 0.25%, a
65.6-point discount to the underlying S&P/ASX 200 index        
close. The benchmark rose 0.7% to a more than five-month high on
Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.08%
by 2223 GMT.

 (Reporting by Deepali Saxena; Editing by Sandra Maler)
  
 
 

Grubhub fights back against COVID-19 food delivery commission caps

Grubhub is launching a petition on Thursday to end food-delivery commission caps that have been imposed during the pandemic by the New York City Council, The Post has learned.

The food-delivery giant, which also owns Seamless, is taking out targeted digital ads in the districts of council members who support the caps, including Speaker Corey Johnson, a source said.

The ads call the commission caps a “food delivery tax” and claim they will result in New Yorkers paying more for their takeout. The ads warn that restaurants will get fewer orders and delivery workers will earn less.

City Council members held a hearing last week to discuss extending the cap into next year, limiting Grubhub, Uber Eats and others to charging restaurants just 20 percent of a takeout order, down from commissions as high as 40 percent.

The restaurant industry supports the cap, with some operators testifying at the hearing that it has saved them thousands of dollars since it was implemented in June.

The ads will target the districts of council members Mark Gjonaj, chairman of the small business committee that spearheaded the crackdown on the delivery companies; Speaker Johnson and Councilman Francisco Moya, a Grubhub spokesperson told The Post.

Grubhub argued at the hearing that commission caps raise consumer fees. It claims that in the cities where caps were implemented, consumers are paying more for takeout. It didn’t offer evidence to support the claim.

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Mariska Hargitay Appears at DNC to Address Nationwide Backlog of Untested Rape Test Kits

In addition to Hargitay's appearance, Biden's newly announced running mate Sen. Kamala Harris, former President Barack Obama and Sen. Elizabeth Warren will address voters on Wednesday night. On Thursday, Biden will formally accepts his party's nomination.

Due to the novel coronavirus (COVID-19) pandemic, this year's DNC is centered on virtual programming each night this week from 9-11 p.m. ET; it is airing on TV and online.

The Republican National Convention, featuring President Donald Trump, will be next week.