Coronavirus Update: Russia Approves World's First COVID-19 Vaccine

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Good morning, it’s Tuesday, August 11. Here’s your daily coronavirus update.

There are over 20 million cases of the virus worldwide, with over 736,000 deaths.

According to Johns Hopkins, the U.S. has surpassed 5 million cases with over 163,000 deaths.

According to the COVID-19 Tracking Project, there were 41,807 new cases reported Monday. 716,229 new tests were reported. And 426 deaths were reported yesterday.

And Russia said it has officially registered a coronavirus vaccine, but WHO says 'rigorous' review is needed for qualification.

President Vladimir Putin announced Tuesday that Russia's health care regulator approved a Covid-19 vaccine, though the vaccine has yet to complete clinical trials and no information about any late-phase testing has been published.

While stocks soared on the news, TheStreet's ETF Focus noted that the announcement could be bad news for gold prices. 

President Donald Trump is eyeing a capital gains tax cut to help create more U.S. jobs.

He told reporters Monday at a briefing that he was "looking very seriously at a capital gains tax cut and also at an income tax cut for middle-income families."

The statement from the president came after he issued executive orders over the weekend that would include continued payments of up to $400 a week of supplemental federal unemployment benefits and a payroll tax deferral.

And New York CEOs are making a pledge to hire more people of color and low-income residents.

CEOs from 27 major companies including JPMorgan Chase, Goldman Sachs, IBM, Verizon, Microsoft and Amazon.com have formed the New York Jobs CEO Council, a group that aims to hire 100,000 low-income and Black, Latino and Asian workers in New York City by 2030.

JPMorgan Chase CEO Jamie Dimon, who will serve as a co-chair of the organization said, “Many New Yorkers are stuck in low-paying jobs that could be lost in the future or are struggling to navigate the labor market” during the coronavirus pandemic...We are using our collective power to prepare the city’s workforce with the skills of the future and helping New Yorkers who have been left behind get a foot in the door.”

The CEO Council plans to work with universities and New York to help companies hire people for entry-level jobs and apprenticeships.

The goal is for this Council to help New Yorkers get jobs that won’t leave them stuck in a low-paying job where they have a small hope of advancement.

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

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