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Monkeypox and kids: How at risk are they?



Monkeypox and kids: How at risk are they?

As if one global pandemic isn’t enough to worry about, the Biden administration officially declared monkeypox a national health emergency on Thursday. To date, there are 7,102 confirmed monkeypox cases in the U.S., according to the Centers for Disease Control and Prevention. What does this mean for parents? Well, there’s no need to panic just yet. We talked to a doctor to learn more.

“Compared to COVID 19 and other childhood viruses, like the flu and RSV [respiratory syncytial virus], monkeypox does not transmit between people very easily,” says Dr. Larry Kociolek, medical director of infection, prevention and control and attending physician in infectious diseases at Ann & Robert H. Lurie Children’s Hospital of Chicago. “Currently, there are 10 pediatric cases across the globe and two reported cases in the U.S.”

What is monkeypox and what are the symptoms in kids?

Monkeypox is a rare disease caused by the monkeypox virus. In general, monkeypox presents similarly in adults as in children—with fever, swollen lymph nodes, and skin lesions throughout the body. Rashes are the most common symptom for monkeypox and can look similar to other rashes commonly found in children.

Symptoms typically start within three weeks of exposure and illness usually lasts two to four weeks. Most cases are mild and do not require hospitalization, but severe cases can occur in people with weakened immune systems.

How is monkeypox transmitted?

The easiest way to transmit monkeypox is through direct contact with skin lesions. “It’s not transmitted through casual contact,” says Kociolek, adding the disease is not easily shared by touching common household items, such as door knobs and handles. “You’re not going to get monkeypox with brief face-to-face interactions with people who have monkeypox, you’re going to get it from really prolonged direct close contact with somebody who’s been affected.”

If I catch monkeypox, how can I prevent passing it on to my child?

Preventative measures for monkeypox are similar to the same actions you would take for other common infections: staying home when you’re sick, avoiding contact with other sick people and frequently washing your hands with soap and water for 20 seconds, especially before eating.

If you suspect you may have monkeypox, it’s important to contact your doctor immediately. 

“Testing is much more readily available now than it was even a month ago,” says Kociolek. “If you do suspect, or have been told you have monkeypox, the most important way to prevent spreading it is by keeping skin lesions covered and not sharing items that have had contact with skin lesions with other people, such as bed linens, towels and clothing.”

While it’s believed that monkeypox is more difficult to spread through a respiratory route like COVID-19, it is possible, so if you do become infected it’s important to wear a mask and socially distance yourself from other individuals in a household. That being said, the suggested isolation for monkeypox is much longer than other viruses.

“You can transmit monkeypox for as long as the skin lesions are present, which can be as long as four weeks,” Kociolek explains.

What is the risk for my kids? 

“The likelihood of anyone’s child getting monkeypox right now is exceedingly low,” says Kociolek. “So the vast majority of rashes in children are going to be from other infectious or noninfectious causes.”

However, if you have reason to believe your child has been exposed, or is developing a rash that’s consistent with monkeypox, then you’ll want to contact your pediatrician for further guidance and take measures to avoid spreading the disease to other people.

Are some children at a higher risk?

According to the American Academy of Pediatrics (AAP), some children, including infants, children under 8 and those with skin conditions, such as eczema, and those who are immunocompromised, may be at an increased risk of serious illness if they were to contract monkeypox.

Is there treatment or vaccine available?

Yes, for children who have a severe case of monkeypox, or those who are at risk for severe disease, a treatment is available. “Tecovirimat is the first-line treatment and is being used under an investigational protocol,” according to the AAP. “The CDC recently streamlined the process to obtain it. It is available in both oral and intravenous forms.”

While there is currently not a monkeypox vaccine available to all children, the JYNNEOS vaccine may be recommended for children under 18 who have been exposed to monkeypox. 

How concerned should I be about my child getting monkeypox?

“Right now, the concern is exponentially higher than the risk,” says Kociolek. “People have a lot of vigilance right now for emerging diseases coming out of this COVID pandemic and there’s a lot of media attention around monkeypox as well. But in reality, the risk to a child is exceedingly low.”

For comparison, there are 10 known cases of monkeypox in children worldwide, whereas hand, foot, and mouth disease, which is common in children under 5, is caused by enterovirus, of which there are roughly 15 million reported cases in the U.S. each year. 

“And that’s only one cause of the hundreds of causes of rashes in childhood,” says Kociolek. “Just to put it into perspective.”


Coinbase’s near-term outlook is ‘still grim’, JPMorgan says, while BofA is more positive about firm’s ability to face crypto winter



Coinbase's near-term outlook is 'still grim', JPMorgan says, while BofA is more positive about firm's ability to face crypto winter

Coinbase is well positioned to successfully navigate this crypto winter and take market share, Bank of America said in a research report Tuesday. It maintained its buy recommendation following the exchange’s second-quarter results.

The results warrant “a muted stock reaction,” the report said. Net revenue of $803 million was below the bank’s and consensus estimates, while its adjusted $151 million loss before interest, tax, depreciation and amortization was better than the street expected. Importantly, the company remains “cautiously optimistic” it can reach its goal of no more than $500 million of adjusted EBITDA loss for the full year, the report added.

Coinbase shares fell almost 8% in premarket trading to $80.74.

Bank of America notes that Coinbase had no counterparty exposure to the crypto insolvencies witnessed in the second quarter. The company also has a “history of no credit losses from financing activities, holds customer assets 1:1, and any lending activity of customer crypto is at the discretion of the customer, with 100%+ collateral required.” These rigorous risk-management practices will be a “positive long-term differentiator” for the stock, the bank said.

JPMorgan said Coinbase had endured another challenging quarter, while noting some positives.

Trading volume and revenue were down materially. Subscription revenue was also lower, but would have been much worse were it not for higher interest rates, it said in a research report Wednesday.

The company is taking steps on expense management, and in addition to the June headcount reductions, is scaling back marketing and pausing some product investments, the note said.

The bank says the company’s near-term outlook is “still grim,” noting that the exchange expects a continued decline in 3Q 2022 monthly transacting users (MTUs) and trading volumes, but says Coinbase could take more “cost actions” if crypto prices fall further.

JPMorgan is less optimistic than Bank of America about the company in the near term, saying pressure on revenue from falling crypto markets will have a negative impact on the stock price. Still, it sees positives including higher interest rates, from which the firm will generate revenue. It also sees opportunities for the exchange to grow its user base, leveraging almost $6 billion of cash. The surge in crypto prices in July, and the forthcoming Ethereum Merge are also seen as positive catalysts, it added.

The bank maintained its neutral rating on the stock and raised its price target to $64 from $61.

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Elon Musk sold $6.9B in Tesla stock in case he’s forced to buy Twitter



Elon Musk sold $6.9B in Tesla stock in case he's forced to buy Twitter

Elon Musk sold $6.9 billion of his shares in Tesla Inc., the billionaire’s biggest sale on record, saying he needed cash in case he is forced to go ahead with his aborted deal to buy Twitter Inc.

“In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk tweeted late Tuesday after the sales were disclosed in a series of regulatory filings. 

Asked by followers if he was done selling and would buy Tesla stock again if the $44 billion deal doesn’t close, Musk responded: “Yes.”

Tesla’s chief executive officer offloaded about 7.92 million shares on Aug. 5, according to the new filings. The sale comes just four months after the world’s richest person said he had no further plans to sell Tesla shares after disposing of $8.5 billion of stock in the wake of his initial offer to buy Twitter.  

Musk last month said he was terminating the agreement to buy the social network where he has more than 102 million followers and take it private, claiming the company has made “misleading representations” over the number of spam bots on the service. Twitter has since sued to force Musk to consummate the deal, and a trial in the Delaware Chancery Court has been set for October. 

In May, Musk dropped plans to partially fund the purchase with a margin loan tied to his Tesla stake and increased the size of the equity component of the deal to $33.5 billion. He had previously announced that he secured $7.1 billion of equity commitments from investors including billionaire Larry Ellison, Sequoia Capital, and Binance. 

“I’ll put the odds at 75% that he’s buying Twitter. I’m shocked,” said Gene Munster, a former technology analyst who’s now a managing partner at venture-capital firm Loup Ventures. “This is going to be a headwind for Tesla in the near term. In the long term, all that matters is deliveries and gross margin.”

At the weekend, Musk tweeted that if Twitter provided its method of sampling accounts to determine the number of bots and how they are confirmed to be real, “the deal should proceed on original terms.” 

Musk, 51, has now sold around $32 billion worth of stock in Tesla over the past 10 months. The disposals started in November after Musk, a prolific Twitter user, polled users of the platform on whether he should trim his stake. The purpose of the latest sales wasn’t immediately clear.  

Tesla shares have risen about 35% from recent lows reached in May, though are still down about 20% this year. 

With a $250.2 billion fortune, Musk is the world’s richest person, according to the Bloomberg Billionaires Index, but his wealth has fallen around $20 billion this year as Tesla shares declined.    

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The rent is too d*mn high for Gen Z: Younger generations are ‘squeezed the most’ by higher rents, BofA says



The rent is too d*mn high for Gen Z: Younger generations are 'squeezed the most' by higher rents, BofA says

Most of Gen Z is too young to remember the 2010 New York gubernatorial candidate Jimmy McMillan.

But over a decade later, they would probably agree with his signature issue (and catchphrase): the rent is too damn high.

This July, median rent payments were 7.4% higher than during the same period last year, according to a Bank of America report released Tuesday. 

The national median price for a one-bedroom apartment has been hitting new highs nearly every month this summer. It was $1,450 for July, according to rental platform Zumper. In the country’s largest city, New York, average rent exceeded a shocking $5,000 a month for the first time ever in June. 

But inflation in the rental market hasn’t hit each generation equally, and no one is getting squeezed harder by the higher monthly payments as Gen Z. Those born after 1996 have seen their median rent payment go up 16% since last July, compared to just a 3% increase for Baby Boomers, BofA internal data shows. 
“Younger consumers are getting squeezed the most by higher rent inflation,” BofA wrote.

The great rent comeback

Early in the pandemic, landlords slashed rents and gave significant COVID discounts to entice tenants to stay instead of leaving urban areas. Once those deals started expiring in 2021, many landlords suddenly raised payments once again, sometimes asking for over double their pandemic value. 

Young people across the board have been hit hard, and rent burdens compared to age can be seen even within a single generation. Younger millennials had their median rent payment grow 11% from last year, while the median payment for older millennials rose 7%. Gen X experienced a 5% median rent increase, according to BofA. 

It’s not a surprise, then, that Gen Z feels so strapped for cash. The majority of young people, 61%, said they want to receive their wages daily instead of twice a week, a practice typically reserved for workers living paycheck to paycheck, according to a report from the Center for Generational Kinetics, which specializes in research across the generations. Rising rent inflation has even priced nearly a third of Gen Zers out of the apartment search altogether. Around 29% of them have resorted to living at home as a “long-term housing solution,” according to a June survey from personal finance company Credit Karma.

It’s no wonder—the rent really is too high.

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