The US economy on Thursday posted the worst GDP reading on record as the activity in the second quarter, from April to June plunged 32.9%, according to govt data.
Wall Street economists estimate the US economy contracted at an annualized rate of 34.5%, as lockdowns brought the global economy to a screeching halt.
Sharp contractions in personal consumption, exports, inventories, investment and spending by state and local governments all converged to bring down GDP, say analysts.

The US economy on Thursday posted the worst GDP reading on record as the activity in the second quarter, from April to June plunged 32.9%, according to govt data. Wall Street economists estimate the US economy contracted at an annualized rate of 34.5%, as lockdowns brought the global economy to a screeching halt. Sharp contractions in personal consumption, exports, inventories, investment and spending by state and local governments all converged to bring down GDP, say analysts.

Two survivors of the Air India plane crash in Kerala have tested positive for Covid-19. The flight was ferrying Indians stranded in Dubai due to Covid-19 pandemic as part of Vande Bharat mission. The Central Industrial Security Force has directed its personnel to go into quarantine as a precautionary measure after at least two passengers of the flight tested positive, PTI reported. Earlier in the day, the Kerala Health Department urged all passengers and those who assisted in the rescue operations to get tested as well as go into quarantine to prevent the spread of the virus.

Chennai, PTI: The Tamil Nadu government on Saturday announced that small temples with an annual income below Rs 10,000, mosques, dargah, churches and other religious places in the corporation areas will be opened for worship from August 10.
Also, driving schools across the state shall function from August 10 adhering to the standard operating procedures to be released by the government.
Temples and other religious places of worship were closed for darshan since March 24, when the state government enforced a total lockdown. However, the government permitted all religious activities including daily puja in the temples by the priests.
Apparently, with the coronavirus spread under control in Chennai and parts of Tamil Nadu, chief minister K Palaniswami announced relaxations in the lockdown restrictions.
"Permission should be obtained from the commissioner of Greater Chennai Corporation and district collectors, concerned, for allowing public worship," Palaniswami said in a statement here.
The state government has already allowed public worship in small temples, mosques, darghas, churches in panchayat, town panchayat and municipality areas, he said.
The chief minister called upon the public to adhere to the SOP and contain the spread of Covid-19.
The government had already issued SOP for opening places of worship, he added.

India has formed an expert committee comprising representatives from various ministries and institutions to oversee all aspects of its Covid-19 vaccine plan, the Hindustan Times has reported. The committee will oversee the identification of vaccine to buying to financing the purchase to distribution and administration. The move comes even as six vaccines are in Phase 3 or combined Phase 2-3 trials and as countries around the world scramble to strike deals with multiple vaccine makers. The report added that the panel will be led by Niti Aayog&rsquo;s Dr VK Paul and co-chaired by health secretary Rajesh Bhushan. It will pick the vaccine or vaccines that India can use, plan the finances and prioritise the sequence of administration, the report said.

BCCI&nbsp;has received an "in principle" government approval to take the IPL&nbsp;to the UAE&nbsp;and the franchises have started to quarantine their players. All the 8 teams will soon initiate Covid-19&nbsp;testing protocols for their players and support staff. While the Mumbai Indians has quarantined the Indian players at its base, some franchises&nbsp;are arranging Covid-19 tests for the players in their respective cities before heading for departure bases at Delhi, Mumbai, Chennai and&nbsp;Bengaluru&nbsp;to fly to the&nbsp;UAE.&nbsp;A BCCI official told PTI that while two tests are mandatory, most franchises will have at least four tests done before leaving India. As instructed by the BCCI, all the franchises will be leaving India in chartered flights after August 20th.&nbsp;

New Delhi, PTI: The Union Health Ministry has asked states and UTs to test grocery shop workers, vegetable and other vendors for coronavirus. The govt has stated that if undetected they can potentially spread the infection to a large number of people.
In a letter to states and UTs, Secretary in the Health Ministry, Rajesh Bhushan also stressed the need for operationalising ambulance transport system with oxygen facility and quick response mechanism.
He underlined that refusal rate of ambulances must be monitored at a daily basis and brought down to zero.
With the Covid-19 pandemic now spreading to newer areas in the country, Bhushan said there are likely to be scattered cases, cluster of cases or large outbreaks in districts and that the primary aim is to control outbreaks especially in new locations.
&ldquo;The focus at the same time should be to save lives at all cost," he said.
"While we have so far done better than many other countries in this respect, our aim should be to further reduce mortality and ensure that it does not cross the 1 per cent mark," Bhushan said in the letter, addressed to additional chief secretaries, principal secretaries and secretaries (health).
Bhushan pointed out that early detection of cases through aggressive testing, prompt isolation or admission in a healthcare facility and ensuring proper clinical management are major components of mortality reduction.
"Early detection of cases is the most crucial element to ensure that the case fatality is reduced. It helps in terms of not only identifying the case before it may become critical but also supports in terms of checking the spread of infection," he said in the letter.
He stressed on enhanced surveillance for influenza like illness (ILI)/severe acute respiratory illness (SARI) as their symptoms are mostly the same as COVID.
Once a positive case is identified, a prompt contact-tracing should be undertaken and at least 80 per cent of the contacts must be identified and quarantined within 72 hours, he said.
Normally, a person would have an average of 30 contacts for a period of tracking that two days before the symptom onset, Bhushan said.
"There can be potential hotspots for spread of infection like industrial clusters with closed work environment, people coming from high prevalence areas, other high density areas such as slums, prisons, old age homes etc.
"In addition, grocery shops, vegetable and other vendors etc can be potential spreaders of infection to a large number of people. Testing in such areas and of such people should be taken up proactively as per ICMR guidelines," Bhushan underscored.

The Serum Institute of India on Friday said it has entered into a new partnership with international vaccine alliance Gavi and Bill &amp; Melinda Gates Foundation to accelerate manufacturing and delivery of up to 100 million doses of Covid-19 vaccines for India as well as other low and middle-income countries. The collaboration will provide upfront capital to SII to help them increase manufacturing capacity now, so that, once a vaccine gains regulatory approval and WHO prequalification, doses can be produced at scale for distribution to India, as early as the first half of 2021. The company has set an affordable ceiling price of around Rs 225 per dose.
&nbsp;

The sports Authority of India confirmed on Friday that several Indian hockey stars including captain&nbsp;Manpreet Singh have tested positive for Covid-19.&nbsp;Apart from Manpreet, defender Surender Kumar, Jaskaran Singh and drag-flicker Varun Kumar are the others who have contracted the virus.&nbsp;Manpreet said in a statement that he has self-quarantined at the SAI campus.&nbsp;The players tested positive after returning to the national hockey camp at the SAI South Centre in Bengaluru following a month-long break. The players were earlier stranded at the centre for over two months when a national lockdown was imposed to contain the virus.

Bangladesh football team's 2022 World Cup qualifying campaign has&nbsp;dealt&nbsp;a&nbsp;huge blow as 11 players from their squad have tested positive for Covid-19.&nbsp;The infections were confirmed after 24 of 36 players scheduled to join a training camp were tested.&nbsp;Bangladesh Football Federation General Secretary in a statement said that all the players were asymptomatic.&nbsp;Bangladesh are at the bottom of Group E in the 2022 World Cup qualifying tournament and were scheduled to play their remaining 4 matches earlier this year but they were suspended&nbsp;due to the pandemic and are now due to take place in October and November.

The BCCI and the England and Wales Cricket Board on Friday decided to postpone England's limited-overs tour to India until&nbsp;early 2021. It was scheduled to be played from Late September to early October but due to the present Covid-19 situation in India, the 2 boards were left&nbsp;with no option but to cancel the tour. The BCCI&nbsp;and ECB are now in talks to arrange an all-format tour in January-March next year. BCCI&nbsp;secretary Jay Shah in a statement said that he was pleased with the way the two boards managed the situation.

On Thursday, 1,299 new Covid-19 cases were reported in Delhi, taking the total tally to over 1.41 lakh in the capital. 1,008 people recovered from the disease and Delhi currently has 10,348 active coronavirus cases, including 3,024, who are receiving treatment at hospitals. Meanwhile, liquor shops timing extended in the capital. All liquor shops in Delhi are allowed to open from 10 am to 10 pm instead of 10 am to 9 pm, with immediate effect till further orders.

The United States on Thursday revoked its 'Do Not Travel' global health advisory for the citizens and will now follow the previous system of country-specific travel advice. Although the country has retained the advisory for India, the officials ensured that the advisory can change depending on the Covid-19 situation in the country.&nbsp; The officials said that the risk of contracting the disease is high in India and that if one gets sick in India and needs medical care resources may be limited. The Trump administration had released the travel advisory on March 19. With 160,000 deaths, the&nbsp;USA has registered 5 million Covid-19&nbsp;cases.

All 162 members of the&nbsp;Caribbean Premier League including players, officials and administrators have tested negative for Covid-19. They have arrived in Trinidad and Tobago and will now be kept in quarantine for 14 days&nbsp;in the official hotel. Accordance to the current protocols in Trinidad &amp; Tobago, if any member of the party is found to have contracted the virus they will be removed from the hotel and placed in further isolation. CPL starts from August 18 with 33 games to be played at 2 venues in Trinidad.&nbsp;

The iconic Melbourne Cricket Ground&nbsp;may have been host to the Boxing Day Test every year but it may not be the case this time around. Cricket Australia is considering to shift the iconic Test due to the rising number of Covid-19 cases in Melbourne.&nbsp;According to a report in the Sydney Morning Herald, Adelaide has emerged as a front runner to host this year's Boxing&nbsp;Day Test vs India scheduled to be played from December 26. The Aussie cricket board is expected to make a staggering 300 million Australian dollars from the Test series against India and&nbsp;their chairman Earl Eddings has called for an urgent meeting of the national cricket cabinet next week to discuss ways for smooth conduct of the series.&nbsp;

Disulfiram, a&nbsp;drug used to treat alcoholism, may help fight Covid-19, a new study suggests. The target of potential treatment must be those elements of the novel coronavirus that are least subject to mutation during evolution, researchers from National Research University Higher School of Economics (HSE) in Russia said.
The target for their research was&nbsp;M pro, SARS-CoV-2 virus main protease, which is resistant to mutations.
Disulfiram&nbsp;acts in two ways - as a covalent inhibitor and also works against reducing an antioxidant called glutathione in Covid-19 patients. Researchers analysed another drug called Neratinib but found it unfit for clinical use.

The 2020 edition of the iconic London marathon will be restricted to professional runners only as the country fights the Covid-19 pandemic. The marathon&nbsp;which was delayed due to the outbreak will now be staged on 4th October and will use a different route from usual with only elite athletes&nbsp;permitted to participate.&nbsp; The athletes will stay in a biosecure bubble&nbsp;and will run around a new course in St James' Park without spectators. The timings from the run will be eligible to qualify&nbsp;for the Tokyo 2021 Olympics. The organisers confirmed that the public marathon along with spectators can return in 2021 if the pandemic is under control.&nbsp;&nbsp;

As the IPL&nbsp;teams prepare to go to the Middle East to play in the 13th edition of the tournament, Chennai Super Kings management has decided that their stars will travel without the families. According to a report in the Times of India, MS Dhoni's team will travel to set up a camp in Dubai without the families in the initial part of the tournament. The team will assemble in Chennai by 19th August and will depart for Dubai the next day on a chartered flight. In Dubai, the team plans to stay in a 5star hotel next to the iconic Burj&nbsp;Khalifa&nbsp;and has rented out a couple of floors with separate air condition ducts. BCCI's&nbsp;strict SOPs&nbsp;prevent the players from interacting with outsiders as they aim to hold a 3-week preparatory camp ahead of the start and not allowing family members was a conscious decision by the management.&nbsp;

India's Covid-19 tally crossed the 2 million mark on Friday after the highest-ever one-day jump of over 62,500 cases. According to the health ministry data released on Friday morning, total Covid cases in the country stood at 20,27,074. India has gone from 10 lakh to 20 lakh cases in just 21 days. 886 more people lost their lives to the viral disease in the last 24 hours taking toll to over 41,000. India now has over 6 lakh active cases of coronavirus while close to 14 lakh have recovered from the contagion.

Congress leader Rahul Gandhi on Friday once again attacked the Centre as India became the third country in the world, after the US and Brazil, to report more that two million coronavirus cases. &ldquo;20 lakh mark has been crossed, the Modi government has gone missing,&rdquo; Gandhi tweeted. He also added his tweet from July 17, a day the country had crossed the million mark. India recorded the second million in three weeks since the country hit a million infections on July 16.

6-time Formula 1 World Champion Lewis Hamilton has confirmed that he will not re-negotiate his 40 million pounds a year deal with Mercedes in Formula 1. The British racer confirmed that he doesn't feel right to negotiate a new deal when people all around him are losing jobs due to the pandemic. Hamilton's deal with the British racing team ends after this season and he is likely to extend his stay with Mercedes. Meanwhile, Hamilton's teammate&nbsp;Valterri&nbsp;Bottas&nbsp;has signed a contract extension which will keep him with Mercedes&nbsp;until the end of the 2021 season.&nbsp;

Mexico's coronavirus death toll surged past 50,000 on Thursday, the government said. The grim milestone came just days after Mexico became the country with third-highest cases in the world. The health ministry announced 819 more deaths in its daily update om Thursday, taking the total to 50,517 since the the Latin American country's first case was detected in February.

The US GDP&nbsp;sank a record 32.9% in Q2 as coronavirus-induced lockdowns ravaged the economy

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US Q2 GDP plunged by a record 32.9%, vs expected 34.7%

Jul 30, 2020 19:06 IST

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