Tag: aid

14
Oct
2020
Posted in technology

HCA Healthcare Returning $6 Billion In Federal Coronavirus Aid

It’s rare when a company returns federal money. It’s rarer still when that money amounts to billions of dollars. Yet that’s the situation with top U.S. hospital operator HCA Healthcare (NYSE:HCA), which aims to return gobs of government largesse from whence it came.

All told, HCA announced that it’s planning to return roughly $6 billion, $1.6 billion of which consists of federal COVID-19 grants and $4.4 billion in Medicare loans. Both were provided as part of the government’s Coronavirus Aid, Relief, and Economic Security Act (CARES) passed in the early stages of the current pandemic.

HCA benefited from the loans and grants bestowed upon operators of healthcare facilities to help keep them afloat.

The company will pay those funds back because it continues to thrive, even though many elective surgeries have been postponed or canceled in the face of the coronavirus.

Last week HCA published a “preview” of its Q3 of fiscal 2020 results, indicating year-over-year revenue growth approaching 5%, to an estimated $13.3 billion. It is also projecting only a relatively modest drop in profitability, with non-GAAP (adjusted) EBITDA — earnings before interest, taxes, depreciation, and amortization — sliding to around $2.03 billion from the year-ago result of almost $2.29 billion.

“During the early days of the pandemic, the Company took a conservative approach which included a number of actions to meet the operational and financial challenges this global health crisis was expected to present,” HCA explained in the press release heralding the preliminary Q3 figures.

The company did not provide a timetable as to when it would repay the federal grants and loans.

Tuesday was a good day for HCA stock; it rose by almost 2.1%, against the 0.6% drop of the S&P 500 index.

This article originally appeared in the Motley Fool.

Eric Volkman has no position

04
Oct
2020
Posted in technology

India and South Africa ask WTO to waive rules to aid COVID-19 drug production

FILE PHOTO: A logo is pictured outside the World Trade Organization (WTO) headquarters next to a red traffic light in Geneva, Switzerland, October 2, 2018. REUTERS/Denis Balibouse/File Photo

VIENNA (Reuters) – India and South Africa want the World Trade Organization (WTO) to waive intellectual property rules to make it easier for developing countries to produce or import COVID-19 drugs, a letter here&Open=True to the WTO shows.

In their letter dated Oct. 2 the two countries called on the global trade body to waive parts of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which governs patents, trademarks, copyright and other intellectual property rules globally.

“As new diagnostics, therapeutics and vaccines for COVID-19 are developed, there are significant concerns (over) how these will be made available promptly, in sufficient quantities and at (an) affordable price to meet global demand,” the letter posted on the Geneva-based WTO’s website says.

The two countries said that developing nations are disproportionately affected by the pandemic and that intellectual property rights, including patents, could be a barrier to the provision of affordable medicine.

The letter asks that the WTO’s Council for TRIPS recommends a waiver to the General Council, the WTO’s top decision-making body in Geneva, “as early as possible”. It does not say how much support India and South Africa have from other countries.

A draft General Council decision text submitted with the letter says the waiver should last an as yet unspecified number of years and be reviewed annually.

Reporting by Francois Murphy; Editing by David Goodman

Source Article

02
Oct
2020
Posted in gadget

Student seeks mayor’s aid to get gadget for online class


AN EDUCATION student belonging to a poor family in Capas town, Tarlac province has sought the help of Mayor Reynaldo Catacutan to get a new laptop for her online classes.

Erica Gracia personally wrote the mayor a letter explaining the economic status of their family.

She said her father used to work as a construction worker while her mother is a house help.

The student told Catacutan that her old phone is no longer reliable.

“Nahihirapan po kasi akong mag-online class dahil sa aking phone. Kailangan po kasi ng bawat oras o minuto ay hindi nakatanggal sa pagkaka-charge,” she said.

Gracia said she needs to use Zoom and Google Meet applications but her phone is not compatible.

The student added she has to borrow gadgets from her cousins and schoolmates just to submit her requirements.

“Minsan ay pinilit kong gamitin ang aking phone kaso nahila ko sa pagkaka-charge at dahil dun hindi po ako nakapagsubmit,” she said.

Catacutan immediately acquired a brand new laptop and donated it to Gracia.

The mayor stressed the need to support programs on education especially the scholarship of students belonging to poor families.

Catacutan recently distributed educational assistance to some 76 poor but deserving students of Capas town.

Source Article