Facebook announced it will convert part of its Menlo Park, California headquarters into a vaccination clinic for under-served communities. Read More
Last week, several world powers convened in Vienna, Austria to revive the 2015 Iran nuclear deal. Senior officials from the governments of Iran, United States, France, United Kingdom, Germany, Russia, China, and the European Union aim to determine the next steps the United States and Iran need to take to get back into compliance. The United States has not been in direct talks with Iran but is relaying messages mainly through European members in attendance. Read More
GM is now the latest in a long line of auto makers announcing production stoppages due to chip shortages. Read More
Over the last year, there has been a significant decline in cars on the roads. Many would think there would be fewer crashes and fatalities, however that is not the case. Since the start of the pandemic, roads and highways have only become more dangerous. Even with fewer vehicles on the roads and highways, many drivers have become complacent when it comes to safety. Every year 2.5 million car crashes are the cause of distracted driving. Every day in the United States approximately nine people are killed and more than 1,000 are injured in crashes that are caused by distracted driving. When traveling 60mph, even the slightest distraction of 3-5 seconds is equivalent to driving the length of a football field with your eyes closed. Once the driver becomes distracted, it takes only three seconds for a crash to occur. Read More
For the past month, the big talk has been about President Biden’s
$2 trillion infrastructure plan. Of this, $621 billion will go into transportation infrastructure such as bridges, roads, and public transit. Another $300 billion will go into building affordable housing along with building and upgrading schools. This will bring an extensive amount of work for the construction industry.
As President Biden unveiled his infrastructure plan in Pittsburgh yesterday, it kicked off the first step in what is estimated to be a months-long negotiation with Congress. The American Society of Civil Engineers estimates that approximately $2.6 trillion dollars is needed to restore America’s infrastructure over the next decade. Biden’s plan, called the “American Jobs Plan,” is estimated to be around $2 trillion. The plan is said to be funded by raising corporate taxes from 21% to 28%.
Now that the Ever Given has been dislodged from the Suez Canal, the oil market can look forward to the OPEC+ meeting on Thursday and the outlook for possible resurgences of COVID-19 to determine future price direction.
On March 12th, Pennsylvania’s Governor Tom Wolfe issued an Executive Order creating the Transportation Revenue Options Commission which was established to generate more funds to pay for the state’s road and bridge construction as well as maintenance needs.
On Tuesday, at 7:40 a.m. cargo ship, Ever Given lost power and blocked the Suez Canal. The vessel is Taiwan-owned and one of the world’s largest, measuring 1,312 feet long, 175 feet wide, and weighing 200,000 tons. At the time, the ship was pushed sideways by winds reported at 30mph. With the ship still stuck, this is having huge ramifications on global trade.
In a new analysis of its phase three trial in the United States, AstaZeneca has determined their COVID-19 vaccine to be 76% effective. This new data shows a three percent change from their initial report earlier this week stating their efficacy rate to be 79% effective against the coronavirus disease. AstraZeneca’s original filing came under public scrutiny from health officials in the United States because their data did not include more recent infections.