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08/03/2021
20/12/2020

Companies are considering compulsory Covid vaccination requirements as a condition of employment.

“Under the law, an employer can force an employee to get vaccinated, and if they don’t, fire them,” said Rogge Dunn, a Dallas labor and employment attorney.

Anti-discrimination laws would enable eligible employees to request an exemption from a company-wide coronavirus vaccine mandate.

The country’s first Covid vaccine could be authorized for emergency use as soon as Thursday. If Pfizer and BioNTech get the green light, distribution is set to begin within days.

But as difficult as the research, development and distribution stages have been, some experts argue the hardest part of fighting the virus is actually what comes next: convincing the U.S. population to take the vaccine.

Roughly four in ten Americans say they would “definitely” or “probably” not get a vaccine, according to a recent survey by the Pew Research Center. While this is higher than it was two months ago, to achieve herd immunity, experts say that about 70% of the population needs to be vaccinated or have natural antibodies.

Employers, however, may not be taking “no” for an answer.

Under the law, an employer can force an employee to get vaccinated, and if they don’t take it, fire them.
Rogge Dunn
DALLAS LABOR AND EMPLOYMENT ATTORNEY
“A couple of my corporate clients are leaning toward making the Covid vaccine mandatory,” said Rogge Dunn, a Dallas labor and employment attorney.

His clients range from companies in manufacturing to food and beverage — industries that have been battered for months due to the pandemic and government-mandated lockdowns. A vaccine promises employers a return to some form of normal, which is desperately needed as businesses look to recover profits.

Mandating the vaccine in the workplace
One of Dunn’s clients in the restaurant sector thinks a compulsory inoculation requirement could be a game changer for business.

“They think it gives them a competitive advantage,” explained Dunn. “They could say to their customers, ‘Hey, our restaurant is safe. All of our employees have been vaccinated.’”

It may be, in part, a PR tactic, but Dunn said it is totally within an employer’s rights to implement this kind of requirement.

“Under the law, an employer can force an employee to get vaccinated, and if they don’t take it, fire them,” said Dunn.

Dorit Reiss, a professor at the University of California Hastings College of Law, said that private businesses have pretty extensive rights. “Requiring a vaccine is a health and safety work rule, and employers can do that,” said Reiss.

Take the health-care system. Dr. Hana El Sahly, who oversees a clinical trial for Moderna’s vaccine candidate, believes hospitals could eventually make Covid inoculation a condition of employment, similar to how the annual influenza vaccine is required of all medical staff.

“We all have to demonstrate that we took our flu shot before we go out and see our patients on the wards,” said El Sahly. “When we are sick, we cannot deliver vital functions to the community.”

A few exceptions
There are, however, a few notable exceptions to this kind of blanket requirement. If a work force is unionized, the collective bargaining agreement may require negotiating with the union before mandating a vaccine.

Anti-discrimination laws also provide some protections. Under the Americans with Disabilities Act, workers who don’t want to be vaccinated for medical reasons are eligible to request an exemption. In this case, an employer would have to provide reasonable accommodation, such as allowing the employee to work remotely.

Under Title VII of the Civil Rights Act of 1964, if taking the vaccine is a violation of a “sincerely held” religious belief, they, too, would potentially be able to opt out.

How soon could this happen?
When the FDA meets this week, they will decide whether to grant an emergency use authorization, or an EUA, to Pfizer and BioNTech. It may seem like semantics, but an EUA is not the same thing as full approval.

“An emergency use authorization is not a license,” said Reiss. “There’s a legal question as to whether you can mandate an emergency observation. The language in the act is somewhat unclear on that.”

Mandatory vaccination protocols, therefore, may have to wait until the FDA completes the entire approval process for the Pfizer-BioNTech vaccine.

What is clear, however, is that if an employer does choose to mandate the Covid vaccine, a company is not liable should an employee develop side effects from a vaccine. Instead, experts say that any claims would be routed through worker’s compensation programs and treated as an on-the-job injury.

Rewarding vaccination
For now, Dunn is advising his clients to wait three months until after a significant number of the population has been vaccinated. In the meantime, some of the businesses Dunn represents are considering incentives instead.

There are a few carrots that employers could offer. “One option is that if you get the vaccine, you don’t have to have your temperature taken every day, or you don’t have to wear the same level of PPE,” Reiss said.

There’s also talk of offering financial perks to employees who opt in to taking the vaccine. Dunn said some of his clients, including a restaurant and one company in the manufacturing sector, are seriously considering giving a cash bonus to employees who get inoculated.

And for those who still refuse? Rather than firing them, Reiss said employers could require that they complete an educational course that delves into trial efficacy data and the experience of participants.

Yasir Batalvi, a 24-year-old living in the Boston area, was one of 30,000 people who joined the trial for the Moderna vaccine. Despite initial concerns about the potential side effects, he said he’s no longer worried.

“I’m not too concerned about actual long-term effects,” said Batalvi. “We know from most vaccination trials that any adverse events show up in the first couple of months.”

Ultimately, the U.S. is still in the midst of an employment crisis. Record unemployment numbers have put immense pressure on the labor market, especially in service-based industries, where workers are most at risk. That is a big part of why the Centers for Disease Control and Prevention has advised prioritizing frontline employees in the queue for inoculation.

So workers may not have much of a choice if they want to keep a job.

19/12/2020

Bitcoin cut through $24,000 Saturday afternoon, setting a new record high as the leading cryptocurrency’s ongoing rally continues through the weekend before Christmas.

The price of the leading cryptocurrency continued its recent torrid run, setting a new all-time high of $24,122.67 before falling back to $23,978.86, up 5.49% on the day.

The record price comes two days after bitcoin (BTC, +4.22%) first sliced through the $23,000 price point amid its more than 12% intraday gains.

With the latest price increase, bitcoin's year-to-date percentage gains have grown to over 225%.

Social media is lighting up with bitcoin-related chatter as mainstream audiences pay increasing attention to bitcoin's sustained rally. Tweets about bitcoin nears three-year highs Thursday per CoinDesk's prior reporting as record prices attract increasing attention.

Coinciding with the weekend price jump, Christopher Wood, global head of equity strategy at investment firm Jefferies, is reportedly planning to cut his exposure to gold for the first time in years in favor of a first-time ever position in bitcoin. Wood is set to cut his gold position from 50% to 45% and initiate a 5% bitcoin holding.

17/12/2020

Bitcoin leaped to a record high of $23,770.85 on Thursday as its supercharged 2020 rally continued.
The climb brings the token's year-to-date gains above 200% and comes just one day after it traded above $20,000 for the first time.
The cryptocurrency has enjoyed strong momentum through the year as analysts, institutional investors, and financial-services companies turn increasingly bullish on its uses.
Watch bitcoin trade live here.
Bitcoin climbed to an all-time high on Thursday as the cryptocurrency's extraordinary 2020 momentum continued through the end of the year.
The world's most popular cryptocurrency leaped to a 24-hour high of $23,770.85 on Thursday, marking a 20% gain over the past day. The climb comes just one day after bitcoin topped $20,000 for the first time, and brings the token's year-t0-date gains above 200%.
Bitcoin advocates have cited the adoption of cryptocurrencies among institutional investors and financial-services companies as a major boon for the token this year. Investing giants including Paul Tudor Jones and Mike Novogratz praised the cryptocurrency earlier this year and forecasted bigger gains to come. The token's rally accelerated in October after PayPal announced it would allow users to buy, sell, and hold cryptocurrencies.
Read more: JPMorgan says stocks are primed for sustained gains in a way they haven't been in years - and identifies 43 names to buy for above-average earnings growth in 2021

Since bitcoin traded above its 2017 record at the start of December, major banks have also warmed to the token as an alternative to popular hedge assets like gold. JPMorgan strategists said Tuesday that institutional investors' growing interest in bitcoin will pull cash out of gold in the long term.
Guggenheim's Scott Minerd said Wednesday that, based on the token's finite supply and value relative to gold, bitcoin should be worth $400,000.
The token's rally is a "vindication" for investors who rode out its infamous 2017 boom and bust, said Edward Moya, senior market analyst at Oanda.
"It goes without saying that the importance of breaking this key level on the last full trading week of the year could be considered very bullish for cryptocurrencies," he added.
The cryptocurrency pared some gains Thursday morning 17,12,2020 and hovered around $23,200 as of 8:40 a.m. ET.

17/12/2020

Bitcoin surged 12% to more than $23,400 Thursday, taking its year-to-date gains to over 200%.

Crypto bulls have pointed to increased demand from institutional investors for the digital currency.

It has reminded many market watchers of bitcoin’s frenzied rally to nearly $20,000 in 2017.

Bitcoin hit a fresh record high above $23,000 on Thursday, extending a wild rally for the cryptocurrency that has seen it more than triple in value this year.

The world’s most-valuable digital currency surged 12% to $23,421, according to crypto market data provider Coin Metrics, taking its year-to-date gains to more than 200%. Bitcoin only just smashed the $20,000 mark on Wednesday.

Bitcoin later pared back its gains slightly, trading over 9% higher at about $22,787 by 7:30 a.m. ET.

Crypto bulls have pointed to increased demand from institutional investors, pitching bitcoin as a hedge against inflation like gold amid unprecedented U.S. coronavirus stimulus. A recent JPMorgan note claimed such investor appetite would boost inflows into funds tracking bitcoin to the detriment of gold.

On Tuesday, U.K. asset manager Ruffer revealed it had around 2.5% of its portfolio invested in bitcoin “as a small but potent insurance policy against the continuing devaluation of the world’s major currencies.” The company managed £20.3 billion ($27.6 billion) in assets by the end of November.

Bitcoin’s 2020 performance has reminded many market watchers of its frenzied rally to nearly $20,000 in 2017, which was followed by a sharp pullback the following year. However, crypto fans claim this year’s rally is unlike 2017 as it’s being driven by institutional buying rather than retail speculation.

“This run is completely different to the one in 2017,” said Eric Demuth, CEO and co-founder of cryptocurrency trading app Bitpanda. “Back then, the price was driven by mainly retail investors.”

“Now, we additionally have billionaires praising bitcoin and investment funds securing significant positions worth hundreds of millions. The big players that were once very distant from bitcoin and were outspoken critics are now joining in with the run.”

Well-known investors like Paul Tudor Jones and Stanley Druckenmiller have come out as believers in bitcoin this year, while large financial companies like PayPal and Fidelity have also made moves in the space. Meanwhile, the likes of Square and MicroStrategy have used their own balance sheets to buy bitcoin.

“Our flows are now probably up six times what they were last year, and the types of investors that are putting capital to work are unlike any of the investors we’ve seen ever before,” Michael Sonnenshein, managing director of digital asset manager Grayscale, told CNBC. “It’s some of the world’s largest investors.”

Grayscale’s Bitcoin Trust has become a popular investment vehicle for investors looking to put money into the cryptocurrency. The trust, which is traded over-the-counter rather than on a national securities exchange, managed $10.8 billion in assets as of Dec. 14.

On Wednesday, Guggenheim Investments’ Chief Investment Officer Scott Minerd gave a $400,000 price target for bitcoin, citing its scarcity and relative valuation to assets like gold. However, it’s worth noting some investors made lofty calls about the bitcoin price in 2017 that ultimately didn’t come to fruition.

Skeptics see bitcoin as a speculative asset with no intrinsic value, with investors like billionaire Berkshire Hathaway CEO Warren Buffett saying trading in the digital currency is more akin to gambling.

17/12/2020

Bitcoin celebrates the $20K milestone.

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