U.S. Border Patrol officials said a crash in El Paso, Texas, left at least seven people dead, blaming human smugglers for the incident. “Human smuggling is not a victimless crime,” El Paso Sector Border Patrol Chief Patrol Gloria Chavez said in a statement about the incident on June 25. “This is a tragic loss for our El Paso Community.” Three of the victims were illegal immigrants, including one from Guatemala and two from Mexico, the Border Patrol said on Saturday. The other four victims were residents of El Paso, including the 18-year-old driver, according to officials. The incident started on Thursday morning at around 1:30 a.m. when a border sensor sent out an alert about a suspicious vehicle with several passengers, officials told the El Paso Times. The vehicle was…
BEIJING—China’s factory activity likely grew for the fourth month in June but the pace may be waning, as global demand stayed subdued while a fresh CCP (Chinese Communist Party) virus outbreak in the Chinese capital and rising worldwide cases threaten to undermine a gradual domestic recovery.
The official manufacturing Purchasing Manager’s Index (PMI), due for release on June 30, is expected to ease to 50.4 in June, from 50.6 in May, according to the median forecast of 29 economists polled by Reuters. A reading above 50 indicates an expansion in activity.
With travel bans finally lifted in April in Wuhan, the epicenter of the country’s CCP virus crisis, China has largely managed to recover from strict lockdowns that had led to weeks of economic paralysis.
Yet export demand has remained weak with infections steadily rising across the world. Some fear a worldwide recession might turn out to be more pronounced than expected in the event a second wave of CCP virus cases force many countries to reimpose strict lockdowns.
“We received a stark reminder this week that the fight against COVID-19 is not over, as new cases globally thrice reached new highs,” Morgan Stanley said in a note on June 29.
‘Not Much Room’
The fallout from the global pandemic has left factories in China, and elsewhere, operating below strength amid slack demand.
“China’s work resumption has become stable. There is not so much room (for a rebound) compared to the previous months,” said Hu Yanhong, a researcher at Yingda Securities.
In May, China’s exports beat expectations with a 3.3 percent fall thanks to pandemic-related medical supply demand. However, Capital Economics noted this boost is “unlikely to last as the transition to working-from-home reverses and stockpiling of masks and other protective equipment slows.”
Beijing has announced a range of measures to bolster the economy and support jobs. The state cabinet this month flagged plans to further use monetary tools such as bank reserve ratio (RRR) cuts and re-lending to help firms secure cheaper loans.
The private-sector Caixin/Markit Manufacturing PMI, which analysts say focuses more on smaller export-driven firms, is expected to have also eased in June, slowing to 50.5 from the previous month’s 50.7. The private PMI survey is due on Wednesday.
By Yawen Chen and Ryan Woo
Focus News: China’s Factory Activity Likely Slowed in June on Subdued Global Demand
NEW YORK—The U.S. government will ship more of Gilead Sciences Inc’s antiviral treatment remdesivir to states experiencing an increase in COVID-19 cases including California, Texas, Florida, and Arizona, according to the Department of Health and Human Services’ (HHS) website. The government reallocated remdesivir to states with increasing cases, White House task force coordinator Deborah Birx said during a briefing on Friday. The HHS said on its website that the doses will ship starting Monday and extinguish the full amount of Gilead’s donation of 120,647 treatment courses. It said it would continue to work with Gilead to determine how the company’s anticipated inventory of 2 million doses by year’s end will be allocated. California will receive 464 cases of 40 vials each, Texas will receive 448 cases of 40 vials, Florida…