<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1127605847-820x547.jpg" alt="" class="wp-image-410750" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1127605847-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1127605847-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1127605847-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1127605847-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1127605847-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1127605847-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Albert Bourla, chief operating officer and chief executive officer of Pfizer Inc., listens during a Senate Finance Committee hearing on drug pricing on Capitol Hill in Washington, D.C., U.S., on Tuesday, Feb. 26, 2019. Top executives from seven of the world&#8217;s biggest drug companies are testifying before Congress to talk about drug costs, a long-awaited session that could kickstart legislation to rein in prices.&nbsp;Photographer: Zach Gibson/Bloomberg via Getty Images</figcaption></figure>



The effectiveness of Pfizer’s COVID-19 vaccine steadily declines over time, dropping to about 84% for vaccinated people about four to six months after getting their second dose, according to CEO Albert Bourla.



The comments, made on Wednesday on CNBC’s “The Exchange,” are based on the findings of a&nbsp;new company-funded study&nbsp;that has yet to be peer reviewed. It comes as the drugmaker clashes with U.S. health officials over the need for a third COVID vaccine dose to boost immunity protection.



The study found the vaccine’s effectiveness was strongest, at 96.2%, between one week and two months after receiving the second dose. It declined an average of 6% every two months, according to the study, which signed up more than 44,000 people across the U.S. and other countries. The efficacy after “four to six months was approximately 84%,” Bourla said.



“We have seen also data from Israel that there is a waning of immunity and that starts impacting what used to be what was 100% against hospitalization. Now, after the six month period, is becoming low 90s and mid-to-high 80s,” Bourla said.



<h3 class="wp-block-heading" id="h-read-more-pfizer-biontech-strike-south-africa-covid-19-manufacturing-deal-with-biovac">Read more: <a href="https://www.cnbcafrica.com/2021/pfizer-biontech-strike-south-africa-covid-19-manufacturing-deal-with-biovac/">Pfizer/BioNTech strike South Africa COVID-19 manufacturing deal with Biovac</a></h3>



“The good news is that we are very, very confident that a third dose, a booster, will take up the immune response to levels that will be enough to protect against the delta variant,” the executive added, referring to the highly contagious virus strain that’s dominant in the U.S. and other countries around the globe. It’s not uncommon for vaccines to decline in effectiveness over time, Bourla stressed, adding there’s precedent for three-dose vaccines for other diseases.



Pfizer plans to formally submit data to U.S. regulators about the benefits of a third Covid vaccine dose by mid-August, Bourla said.



Earlier this month, when Pfizer first announced its plans, the Food and Drug Administration and the Centers for Disease Control and Prevention&nbsp;issued a joint statement&nbsp;that pushed back on the company, saying “Americans who have been fully vaccinated do not need a booster shot at this time.” &nbsp;



The CDC and the World Health Organization don’t recommend COVID booster shots at this time.



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2021/pfizer-biontech-vaccine-appears-effective-against-mutation-in-new-coronavirus-variants-study/">Pfizer/BioNTech vaccine appears effective against mutation in new coronavirus variants -study</a></h3>



Dr. Kate O’Brien, WHO’s director of immunization, vaccines and biologicals,&nbsp;said Wednesday&nbsp;the organization is still researching whether a booster shot is needed to increase protection.



“We’re very clear on this, there’s not enough information to provide a recommendation at this point,” O’Brien said in a Q&amp;A interview posted on the organization’s social media accounts. “Again, this is a very hot topic, and there’s a lot of research going on to be able to provide an evidence-based recommendation.”



The results of Pfizer-backed study surfaced a day after the CDC&nbsp;reversed course on its prior guidance&nbsp;and recommended fully vaccinated Americans who&nbsp;live in areas with high COVID infection rates&nbsp;begin to wear face masks indoors again.



Coronavirus cases have jumped nationwide in recent weeks, a surge public-health officials attribute to the delta variant. While officials say the majority of COVID hospitalizations and deaths are in unvaccinated people, the delta variant is so contagious that vaccinated individuals can transmit the virus as easily as unvaccinated people, even in asymptomatic cases, CDC Director Rochelle Walensky said Tuesday.

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<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917759-1627423812530-gettyimages-494579678-GDF_0226.jpeg" alt="" class="wp-image-410691" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917759-1627423812530-gettyimages-494579678-GDF_0226.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917759-1627423812530-gettyimages-494579678-GDF_0226-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917759-1627423812530-gettyimages-494579678-GDF_0226-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>U.S. President Barack Obama attends the game between the Chicago Bulls and the Cleveland Cavaliers on October 27, 2015 at the United Center in Chicago, Illinois. Gary Dineen | National Basketball Association | Getty Images</figcaption></figure>



Former President Barack Obama has become a strategic partner and minority owner in the National Basketball Association’s Africa business, which oversees the Basketball Africa League.



The NBA launched its Africa entity in May and values the business as a nearly $1 billion venture. NBA Africa oversees the BAL, which held its inaugural season last May, and has investors including Dikembe Mutombo, Grant Hill and Junior Bridgeman. The league said Obama would use his stake in NBA Africa to fund the Obama Foundation youth and leadership programs across Africa.



Terms of Obama’s equity stake were not disclosed.



Under the leadership of CEO Victor Williams, NBA Africa wants to establish corporate partnerships, expand content and media rights, and support local governments seeking to build new basketball arenas. The BAL includes 12 teams, and league games air in 215 countries and territories, and the NBA envisions basketball being a top sport throughout Africa in 10 years.



Read more: <a href="https://www.cnbcafrica.com/2021/former-president-barack-obama-joins-nba-africa-as-strategic-partner/">Former President Barack Obama Joins NBA Africa as Strategic Partner</a>



Currently, 55 players who are either from Africa or whose parents are native Africans play in the NBA. Team owners view the BAL as a way to scout and develop talent throughout the rapidly growing continent and another route to expand its global appeal. Sports betting partners could also test new technologies in the league.



Nigeria-based industrial group Yinka Folawiyo Group and Helios Fairfax Partners Corporation, an investment holding company that trades on the Toronto Stock Exchange under the ticker symbol “HFPC,” are investors in NBA Africa, alongside former NBA players Luol Deng and Joakim Noah are also investors. In addition, NBA commissioner Adam Silver and NBA Chief Operating Officer Mark Tatum have board seats.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106887249-1621862722565-gettyimages-1232959942-SPRWANDA-KIGALI-BASKETBALL_AFRICA_LEAGUE-INAUGURAL_SEASON.jpeg" alt="" class="wp-image-410692" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106887249-1621862722565-gettyimages-1232959942-SPRWANDA-KIGALI-BASKETBALL_AFRICA_LEAGUE-INAUGURAL_SEASON.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106887249-1621862722565-gettyimages-1232959942-SPRWANDA-KIGALI-BASKETBALL_AFRICA_LEAGUE-INAUGURAL_SEASON-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106887249-1621862722565-gettyimages-1232959942-SPRWANDA-KIGALI-BASKETBALL_AFRICA_LEAGUE-INAUGURAL_SEASON-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>Benjamin Chukwukelo Uzoh 2nd R of Rivers Hoopers of Nigeria vies with Wilson Nshobozwa of Patriots Rwanda during the opening game of the the inaugural Basketball Africa League BAL in Kigali, capital city of Rwanda, May 16, 2021. Cyril Ndegeya | Xinhua News Agency | Getty Images</figcaption></figure>



“The NBA has always been a great ambassador for the United States—using the game to create deeper connections around the world, and in Africa, basketball has the power to promote opportunity, wellness, equality, and empowerment across the continent,” said Obama in a statement. “By investing in communities, promoting gender equality, and cultivating the love of the game of basketball, I believe that NBA Africa can make a difference for so many of Africa’s young people.”



Read more: <a href="https://www.cnbcafrica.com/2021/nba-lures-players-and-investors-to-form-africa-business-entity-valued-at-nearly-1-billion/">NBA lures players and investors to form Africa business entity valued at nearly $1 billion</a>



Obama praised the NBA’s “commitment to Africa, including the leadership shown by so many African players who want to give back to their own countries and communities.”



“We are honored that President Obama has become a strategic partner in NBA Africa and will support our wide-ranging efforts to grow the game of basketball on the continent,” added Silver via statement. “In addition to his well-documented love for basketball, President Obama has a firm belief in Africa’s potential and the enormous growth opportunities that exist through sports. NBA Africa will benefit tremendously from his engagement.”

106917759-1627423812530-gettyimages-494579678-GDF_0226

Former President Barack Obama is now a minority owner in NBA’s Africa business

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT.jpeg" alt="" class="wp-image-410608" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>Bloomberg | Bloomberg | Getty Images</figcaption></figure>



Transnet, a state-owned South African rail, port and pipeline company, appears to be in crisis mode after a <a href="https://www.cnbcafrica.com/2021/south-africas-transnet-hit-by-cyber-attack-affecting-some-container-terminal-operations-sources/">cyberattack</a> <a href="https://www.cnbcafrica.com/2021/south-africas-transnet-hit-by-cyber-attack-affecting-some-container-terminal-operations-sources/">hit the company last week.</a>



The logistics firm has been forced to halt operations at container terminals in Durban, Ngqura, Port Elizabeth and Cape Town, Bloomberg reported Tuesday, citing a note that Transnet sent to customers.



“Transnet, including Transnet Port Terminals, experienced an act of cyberattack, security intrusion and sabotage, which resulted in the disruption of TPT normal processes and functions or the destruction or damage of equipment or information,” the note reportedly reads.



“Investigators are currently determining the exact source of the cause of compromise and extent of the ICT data security breach or sabotage,” it continues.



Transnet did not immediately respond to a CNBC request for comment. Its website was still inaccessible on Tuesday morning and showing an error message.



The Johannesburg-based company, founded in 1991, said Thursday it was experiencing disruption on its IT network. On Friday, it said it had identified and isolated the source of the disruption.



Read more: <a href="https://www.cnbcafrica.com/2018/heres-why-nigeria-is-in-talks-with-south-africas-transnet/">Here’s why Nigeria is in talks with South Africa’s Transnet</a>



But the technical issues seem to be persisting. In the customer note, Transnet reportedly declared “force majeure,” which is when unforeseeable circumstances prevent a company from fulfilling a contract.



Transnet’s port in Durban handles over 60% of South Africa’s container traffic.



The company is taking “all available and reasonable mitigation measures” to limit the impact from the disruption, according to Bloomberg.



Last Friday, the head of South Africa’s Road Freight Association said in&nbsp;<a href="https://supplynetworkafrica.com/cyber-attack-on-transnet-cripples-the-movement-of-goods/" target="_blank" rel="noreferrer noopener">a statement</a>&nbsp;that he was “dismayed and gravely concerned”&nbsp;about the cyberattack.



Gavin Kelly, RFA’s CEO, said the attack has resulted in “massive delays and&nbsp;unreliability of the movement of goods across all modes of transport,” adding that road freight is bearing the brunt of the impact.



“The gates to ports are closed which means no trucks are moving in either direction,” he said. “This has immediate effect: the queues will get a lot longer, deliveries will be delayed and congestion will increase.”



The disruption puts Africa’s most industrialized economy in further jeopardy. South Africa is trying to recover after this month’s deadly riots following the imprisonment of former President Jacob Zuma.&nbsp;



Transnet has asked some of its employees who were not involved in running operations to take leave until the issues have been fixed, Reuters reported Tuesday, citing two sources familiar with the matter.

106917267-1627376925447-gettyimages-969639316-SOUTH_AFRICA_PORT

South Africa port operations halted and workers reportedly put on leave after major cyberattack

El Salvador made bitcoin a legal currency. Now it gets interesting | Beyond The Valley

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ.jpeg" alt="" class="wp-image-410239" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>A bitcoin sign with a graph pictured in the background.
STR | NurPhoto via Getty Images</figcaption></figure>



<a href="https://www.cnbcafrica.com/quotes/btc=x/">Bitcoin&nbsp;</a>surged Sunday evening topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off.



The cryptocurrency was trading at around $38,059.84 at 11:05 p.m. ET, according to CoinDesk data, up nearly 11% from the same time 24-hours prior. Bitcoin had previously hit a 24-hour high of $39,544.29, the highest level since June 16.



Bitcoin’s rally lifted other cryptocurrencies with&nbsp;<a href="https://www.cnbcafrica.com/quotes/eth=x/">ether&nbsp;</a>up 5.9% above $2,299.55. The entire cryptocurrency market added over $114 billion in value in 24 hours as of 11:05 p.m. ET, according to data from Coinmarketcap.com.



The rally comes after<a href="https://www.cnbcafrica.com/2021/catch-these-key-levels-for-bitcoin-next-after-its-break-below-30000-traders-say/">&nbsp;bitcoin recently fell below $30,000</a>&nbsp;after a global sell-off in stocks, sparking fears that it could plunge even further.



“I think we saw an accumulation period around 29-30K, indicating bullishness and a potential move towards $40K for Bitcoin,” said Vijay Ayyar, head of business development at cryptocurrency exchange Luno.



<h2 class="wp-block-heading" id="h-musk-dorsey-wood-in-focus"><a></a>Musk, Dorsey, Wood in focus</h2>



Twitter CEO&nbsp;<a href="https://www.cnbc.com/2021/07/21/jack-dorsey-hopes-bitcoin-will-help-bring-about-world-peace.html">Jack </a><a href="https://www.cnbcafrica.com/2021/ethereum-price-rises-after-elon-musk-confirms-he-owns-the-cryptocurrency/">Dorsey</a>, Tesla CEO Elon Musk and ARK Invest CEO Cathie Wood all recently spoke during a closely watched bitcoin conference called “The B-Word.”



Musk said that Tesla would&nbsp;<a href="https://www.cnbc.com/2021/07/21/elon-musk-says-tesla-will-likely-start-accepting-bitcoin-again.html">likely start accepting bitcoin for vehicle purchases again</a>&nbsp;as a greater share of bitcoin mining switches to renewable energy. In May, Tesla suspended vehicle purchases using the cryptocurrency out of concern over the&nbsp;<a href="https://www.cnbcafrica.com/2021/as-much-as-365-billion-wiped-off-cryptocurrency-market-after-tesla-stops-car-purchases-with-bitcoin/">“rapidly increasing use of fossil fuels for bitcoin mining.”</a>



Bitcoin mining is the energy-intensive process of creating new coins, which involves solving complex math problems. The computational power required to do so also consumes a lot of energy.



“The Chinese trading day has opened up, and the Elon/Jack/Cathie talk was super bullish,” said Alex Brammer of Luxor Mining, a cryptocurrency pool built for advanced miners.



There have been other bullish headlines for bitcoin. E-commerce giant Amazon is&nbsp;<a href="https://www.cnbc.com/2021/07/23/amazon-is-hiring-a-digital-currency-and-blockchain-expert.html">looking to add a digital currency and blockchain expert to its payments team</a>, suggesting it could be taking a closer look at bitcoin and other cryptocurrencies. An Amazon spokesperson said that the company is “inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon.”



These bullish moves have also contributed to a so-called “short squeeze,” according to bitcoin mining engineer&nbsp;Brandon Arvanaghi.



Investors who short bitcoin are betting that the price will fall further. But if the price goes higher, these investors look to cut losses and exit their short positions, which helps to push the price even higher.



“I think the extent of the jump was probably driven by over-leverage shorts,” Luno’s Ayyar said.



Meanwhile, some of the issues that have weighed on bitcoin’s price have begun to clear up. Over the past few months,&nbsp;<a href="https://www.cnbcafrica.com/2021/chinas-renewed-crypto-crackdown-wipes-nearly-300-billion-off-the-market-as-bitcoin-slides/">China has renewed its crackdown on cryptocurrencies</a>&nbsp;targeting mining and trading. And&nbsp;<a href="https://www.cnbc.com/2021/07/20/bitcoin-mining-environmental-impact-new-study.html">concerns over the carbon footprint of bitcoin mining are starting to wane</a>.



Luxor Mining’s Brammer said the uncertainty around the environmental impact of mining and the Chinese regulatory concerns have “worn off.”


		
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bitcoin

Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market

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<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914175-1626863135727-gettyimages-1329430069-210719-ce-pryzm-003_2021071921308010.jpeg" alt="" class="wp-image-410388" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914175-1626863135727-gettyimages-1329430069-210719-ce-pryzm-003_2021071921308010.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914175-1626863135727-gettyimages-1329430069-210719-ce-pryzm-003_2021071921308010-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914175-1626863135727-gettyimages-1329430069-210719-ce-pryzm-003_2021071921308010-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>Clubbers queue around the block at a few minutes to midnight waiting for Covid-19 restrictions to be dropped and for Pryzm nightclub to open its doors once more on July 18, 2021 in Brighton, England. Chris Eades | Getty Images News | Getty Images</figcaption></figure>



LONDON — Nightclubs and bars are fast becoming the new battleground in the fight against COVID-19 as the nocturnal economy re-opens in some countries and coronavirus cases soar, particularly among the young.



COVIID is seeing a resurgence in Europe as the highly infectious delta variant spreads among the unvaccinated and partially-immunized population, which is predominantly young as they were the last in line to receive a vaccine.



At the same time, a number of European countries decided to revive their night time economies, allowing bars and clubs to reopen to the public again, some after 16 months of closure which put many out of business.



In England, nightclubs were allowed to reopen as the clock struck midnight on Sunday with thousands of revelers soaking up the lights, music and lack of face masks and social distancing. Experts are already warning that England’s move is risky, particularly as other countries that reopened before it have now shut up shop (or club) again.



<h2 class="wp-block-heading" id="h-u-turns-elsewhere"><a></a>U-turns elsewhere</h2>



Other countries allowed their nightclubs to reopen in June, including the Netherlands and Spain, but both made rapid revisions and reversals given the COVID situation.



In the Netherlands, nightclubs reopened on June 26 but the government soon regretted the decision, performing a U-turn just two weeks later, closing them down again on July 10 as COVID cases surged in the country, particularly among the young. More than 1,000 COVID infections were linked to one music festival in the Dutch city of Utrecht earlier in July.



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2021/delta-variant-is-one-of-the-most-infectious-respiratory-diseases-known-cdc-director-says/">Delta variant is one of the most infectious respiratory diseases known, CDC director says</a></h3>



On having to close its club doors until August 13, Melkweg, a venue in Amsterdam, described the move as “an annoying decision” but said that “due to the increasing number of infections, we believe that we cannot yet guarantee a safe environment for the public, employees and artists.” 



Lawrence Young, a virologist and professor of molecular oncology at Warwick Medical School at the U.K.’s University of Warwick, told CNBC on Wednesday that the country’s experience was a warning to England.



“If you look at the data from the Netherlands, it’s quite clear that it is that nightclub scene that has fueled this infection rate. It’s clear that opening up, in the way that they did, particularly with the nighttime economy, has been a real driver to massive levels of infection. They saw an eightfold increase [in cases] in a week and most of that is in the 18-29 year olds,” he noted.



“I don’t want to appear to be a doomster but when you look at the pictures from England at the turn of midnight [when clubs reopened on Sunday] it is really frightening and for me it really is inevitable that we’re going to have to reintroduce restrictions of some description” particularly, he said, while there were 18 to 30 year-olds not yet vaccinated or fully immunized.



<h2 class="wp-block-heading" id="h-the-virus-is-not-overcome"><a></a>The virus ‘is not overcome’</h2>



Similar to the Netherlands, Spain was optimistic that it could also reopen nightclubs, a key component of its nocturnal economy and tourism sector.



In June, the government announced plans to allow all of Spain’s 17 regions to reopen venues in time for the summer season. But with strict rules attached; clubs could stay open only until 3 a.m., there would be limits on the number of people allowed in venues (depending on the COVID situation in the region) and restrictions would stay in place until Spain reached a 70% vaccination rate.



A handful of regions opposed the move at the time but others went ahead, reopening their clubs around he weekend of June 26. Just like the Netherlands, however, cases soared among young people and several regions took the unilateral step to close venues again. Now, there is a myriad of varying rules on closing times, curfews and capacity across Spain, local media report.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914172-1626862963943-gettyimages-1234027764-TPRUDENCIO_071621_BOT_VOL_TOQ_QUE_BCT-39.jpeg" alt="" class="wp-image-410389" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914172-1626862963943-gettyimages-1234027764-TPRUDENCIO_071621_BOT_VOL_TOQ_QUE_BCT-39.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914172-1626862963943-gettyimages-1234027764-TPRUDENCIO_071621_BOT_VOL_TOQ_QUE_BCT-39-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914172-1626862963943-gettyimages-1234027764-TPRUDENCIO_071621_BOT_VOL_TOQ_QUE_BCT-39-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>Young men with alcohol drinks in their hands make fun and shout on Barceloneta beach promenade on July 17 2021. Police evicts crowds from Barceloneta beach after Catalonia decreed the return of a 1am curfew given the rebound in Covid-19 cases as a result of the delta variant of the coronavirus. SOPA Images | LightRocket | Getty Images</figcaption></figure>



On forcing clubs in Barcelona to close in early July — just a couple of weeks after they had reopened — Catalonia’s regional government spokesperson Patricia Plaja noted that “we cannot pretend that we have overcome the virus. The data is worrying and the number of infections is growing at an exponential rate far beyond what we can afford.”



Gustavo Ferrer, co-owner and director of the Macarena Club in Barcelona, which had to shut its doors earlier in July, told CNBC Thursday that having to close “has been very hard for us, we have been closed for many months.”



The order to close was all the more frustrating, he said, because “we thought that the authorities had studied the situation well and had everything under control, but it was not like that and after two weeks we had to close again.”



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2021/what-you-need-to-know-about-the-coronavirus-right-now-6/">What you need to know about the coronavirus right now</a></h3>



Ferrer said the Macarena hopes to be open again in mid-August or early September with vaccine passports and antigen tests a way to get the industry back on its feet.



The British government announced at the start of the week that it was planning on making COVID vaccination compulsory for nightclub goers and other crowded venues in England from the end of September. This prompted criticism from the industry including from Michael Kill, CEO of the Night Time Industries Association, who commented on Twitter Tuesday: “So ‘Freedom Day’ for clubs lasted around 17 hours then.”



<h2 class="wp-block-heading"><a></a>Doctors are worried</h2>



Medical experts are duly worried about the infection rate among young people.



Chris Lutterodt, a doctor and spokesman for the charity Healthcare Workers Foundation, told CNBC that he the link between nightlife and COVID infections was obvious given it’s “harder to maintain social distancing and enforce rules in this setting especially when alcohol comes into the mix.”



“As a GP [general practitioner] I have seen a lot of mainly young people presenting after catching COVID for advice and support. This mirrors what we are seeing with an increased number of infections mainly affecting the younger people. I have seen patients who have attended hen and stag parties over the last few weekends where a significant proportion of them have developed COVID and, in one case, 6 out of the 8 attendees,” he said.



“We need to remember that people who have recently been vaccinated with the first dose may not have sufficient immunity to protect them against catching COVID-19. It is important to follow government advice and social distancing measures where applicable to stop the spread.”



Lutterodt said governments need to ensure that there are proper procedures in place before opening night time industries “if we are to avoid another spike in cases and re-closing of nightclubs which have really suffered throughout this pandemic.”



As it is, however, he added that he was concerned a reopening of clubs will create “the perfect storm for an increase in cases and subsequent hospitalization especially over the autumn and winter months where&nbsp;we know the NHS (the National Health Service) is usually under tremendous pressure.”

106914175-1626863135727-gettyimages-1329430069-210719-ce-pryzm-003_2021071921308010

Nightclubs are a new battleground against Covid, but the young yearn for freedom

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1232982978-820x547.jpg" alt="" class="wp-image-410375" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1232982978-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1232982978-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1232982978-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1232982978-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1232982978-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-1232982978-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Rochelle Walensky, director of the U.S. Centers for Disease Control and Prevention (CDC), listens during a Senate Appropriations Subcommittee hearing in Washington, D.C., U.S., on Wednesday, May 19, 2021. Any mandates in the U.S. to require people to be vaccinated against Covid-19 will be set at the local level by companies and institutions such as colleges, the CDC said this week. Photographer: Greg Nash/The Hill/Bloomberg via Getty Images</figcaption></figure>



The delta COVID variant is one of the most infectious respiratory diseases ever seen by scientists, the director of the Centers for Disease Control and Prevention said Thursday.



The variant is highly contagious, largely because people infected with the delta strain can carry up to 1,000 times more virus in their nasal passages than those infected with the original strain, according to new&nbsp;<a href="https://virological.org/t/viral-infection-and-transmission-in-a-large-well-traced-outbreak-caused-by-the-delta-sars-cov-2-variant/724" target="_blank" rel="noreferrer noopener">data</a>.



“The delta variant is more aggressive and much more transmissible than previously circulating strains,” CDC Director Dr. Rochelle Walensky told reporters at a briefing Thursday. “It is one of the most infectious respiratory viruses we know of, and that I have seen in my 20-year career.”



<h3 class="wp-block-heading" id="h-read-more-what-you-need-to-know-about-the-coronavirus-right-now">Read more: <a href="https://www.cnbcafrica.com/2021/what-you-need-to-know-about-the-coronavirus-right-now-6/">What you need to know about the coronavirus right now</a></h3>



The delta variant has spread quickly through the U.S., accounting for more than 83% of sequenced cases in the U.S. right now, up from 50% the week of July 3.



The seven-day average of new cases is up about 53% from last week, currently at 37,674 new cases per day. Hospitalizations are up 32% from last week at about 3,500 per day and deaths have also increased 19% in the same time frame to about 240 per day.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="392" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106915569-1626989513553-image_5-820x392.jpg" alt="native" class="wp-image-410376" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106915569-1626989513553-image_5-820x392.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106915569-1626989513553-image_5-300x143.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106915569-1626989513553-image_5-140x67.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106915569-1626989513553-image_5-768x367.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106915569-1626989513553-image_5.jpg 1316w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Chart shows current data on Covid-19 in the United States. Centers for Disease Control and Prevention</figcaption></figure>



“This virus has no incentive to let up, and it remains in search of the next vulnerable person to infect,” Walensky said.



The virus is ripping through U.S. counties with low vaccination rates, while counties with high vaccination rates are seeing lower rates of new cases.



Three states, Florida, Texas and Missouri, with low vaccination rates accounted for 40% of all new cases nationwide, White House COVID czar Jeff Zients said. Florida alone accounted for 1 in 5 of all new cases in the U.S. for the second week in a row.



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2021/most-fully-vaccinated-people-who-get-covid-delta-infections-are-asymptomatic-who-says/">Most fully vaccinated people who get COVID delta infections are asymptomatic, WHO says</a></h3>



In hospitals around the country, 97% of people admitted with&nbsp;<a href="https://www.cnbcafrica.com/category/coronavirus/">COVID</a>&nbsp;symptoms are unvaccinated, and 99.5% of all COVID deaths are also among the unvaccinated.



In the past week, the five states with the highest case counts had higher rates of people getting newly vaccinated compared with the national average.



“We are at yet another pivotal moment in this pandemic, with cases rising again and some hospitals reaching their capacity in some areas, we need to come together as one nation,” Walensky said.

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<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914581-1626892622787-bit.jpg" alt="" class="wp-image-410308" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914581-1626892622787-bit.jpg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914581-1626892622787-bit-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914581-1626892622787-bit-140x80.jpg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>A still from The B Word showing Elon Musk. Source: The B Word</figcaption></figure>



The price of ethereum rose Wednesday afternoon after&nbsp;Tesla&nbsp;and SpaceX CEO Elon Musk said he owns the cryptocurrency at&nbsp;The B Word conference, an event hosted by the Crypto Council for Innovation.



Ethereum, which was already rallying on the day, touched its high of the session after Musk’s mention. It was last up more than 12% and near the highs of the day.



Musk also repeated his support for cryptocurrency in general, despite potential environmental risks, saying, “One thing you do need to watch out for with crypto, especially <a href="https://www.cnbcafrica.com/quotes/btc=x/">bitcoin</a>, using proof of work, using energy that’s a bit too much and not necessarily good for the environment.”



<h3 class="wp-block-heading" id="h-read-more-ethereum-hits-new-record-high-above-3-400-extending-its-more-than-300-rally-this-year">Read more: <a href="https://www.cnbcafrica.com/2021/ethereum-hits-new-record-high-above-3400-extending-its-more-than-300-rally-this-year/">Ethereum hits new record high above $3,400, extending its more than 300% rally this year</a></h3>



As bitcoin mining is increasingly powered by renewable energy,&nbsp;Musk said, Tesla will likely move to accept bitcoin for transactions once again.



Musk also said that at this time, the only publicly traded stock he owns is Tesla’s, and that he personally owns some bitcoin, dogecoin and ethereum. “The only significant thing I own outside of&nbsp;Tesla&nbsp;is SpaceX,” he noted, having helped create both companies.



He also said he has been holding his bitcoin long term.



“If the price of bitcoin goes down I lose money. I might pump but I don’t dump,” Musk said. “I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed.”



<h3 class="wp-block-heading">Read more: <a href="Ethereum: What is it and how is it different to bitcoin?">Ethereum: What is it and how is it different to bitcoin?</a></h3>



Musk also confirmed that both Tesla and SpaceX own bitcoin, and no other cryptocurrency at this time.



The B Word conference was established to “demystify,” “de-stigmatize” and “correct the mainstream narrative” around the cryptocurrency bitcoin and promote its institutional acceptance and use.



Musk spoke on a panel alongside Jack Dorsey, CEO of payments company Square and Musk’s favorite social media platform Twitter, along with Ark Invest founder and CEO Cathie Wood, who answered questions from moderator and&nbsp;Square&nbsp;Crypto lead Steve Lee.

106914581-1626892622787-bit

Ethereum price rises after Elon Musk confirms he owns the cryptocurrency

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<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ.jpeg" alt="" class="wp-image-410239" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ-140x80.jpeg 140w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>A bitcoin sign with a graph pictured in the background. STR | NurPhoto via Getty Images</figcaption></figure>



Bitcoin and other cryptocurrencies recovered on Wednesday after a brutal sell-off, with the world’s biggest digital coin climbing back above $30,000.



The price of bitcoin rose almost 4% in the last 24 hours, to $30,798 at 5:25 a.m. ET, according to Coin Metrics data. Smaller cryptocurrencies ether and XRP also rebounded, up around 7% and 3% respectively.



The crypto market saw significant selling on Tuesday, with bitcoin <a href="https://www.cnbcafrica.com/2021/90-billion-wiped-off-crypto-market-as-bitcoin-drops-below-30000-for-first-time-in-nearly-a-month/">falling below the $30,000 mark</a> for the first time since June 22.



The plunge came on the back of news that the New Jersey attorney general issued a&nbsp;<a href="https://www.forbes.com/sites/stevenehrlich/2021/07/19/new-jersey-attorney-general-prepares-cease-and-desist-order-against-multi-billion-dollar-bitcoin-financial-services-platform/" target="_blank" rel="noreferrer noopener">cease and desist letter</a>&nbsp;to crypto lending firm BlockFi, ordering it to stop offering interest-bearing accounts.



The reason for the move higher Wednesday wasn’t immediately clear. Cryptocurrencies often undergo severe price swings. Bitcoin, for example, rallied to an all-time high of almost $65,000 in April before halving in value in the months that followed.



<h2 class="wp-block-heading" id="h-dead-cat-bounce"><a></a>‘Dead cat bounce’</h2>



Vijay Ayyar, head of Asia-Pacific at cryptocurrency exchange Luno, said Wednesday’s price move was likely a “dead cat bounce,” where an asset briefly recovers from a prolonged decline before continuing to slide.



Unless bitcoin can climb above $32,000, Ayyar expects more downside, with the top cryptocurrency potentially tumbling as low as $24,000.



“We saw broad market rallies across the board last night as well, and I think crypto is just playing off of that,” Ayyar told CNBC.



“In general, there are lot of macro factors weighing down on risk-on assets at the moment — inflation worries, Covid, and with crypto we’ve got more specific worries such as much more regulatory oversight.”



<h2 class="wp-block-heading"><a></a>Regulatory pressure</h2>



Cryptocurrencies have been on a downward trajectory amid a growing crackdown on the industry from regulators around the world.



In China, authorities have sought to stamp out crypto mining, the process which validates transactions and produces new coins. Meanwhile, Binance, the world’s largest crypto exchange, is facing&nbsp;<a href="https://www.cnbc.com/2021/06/28/cryptocurrency-exchange-binance-banned-by-uk-regulator.html">intensifying pressure</a>&nbsp;from regulators in the U.K., Italy and elsewhere.

106914167-1626861873395-gettyimages-1234061399-sindeyev-notitle210719_npeAJ

Bitcoin extends gains, touching $32,000 as cryptocurrencies rebound from sell-off

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/bitcoin-1.jpeg" alt="" class="wp-image-404731" width="653" height="367" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/bitcoin-1.jpeg 630w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/bitcoin-1-300x169.jpeg 300w" sizes="(max-width: 653px) 100vw, 653px" /><figcaption>Bitcoin Photo: via Flickr</figcaption></figure>



<a href="https://www.cnbcafrica.com/2021/90-billion-wiped-off-crypto-market-as-bitcoin-drops-below-30000-for-first-time-in-nearly-a-month/">Bitcoin fell again</a> on Tuesday, this time breaking below the critical $30,000 level.



That price has been highlighted by institutional investors as a key level of support.



Despite the market rebounding slightly on Tuesday, this move in bitcoin comes as investors look to mitigate risk with the spread of the delta Covid variant putting additional pressure on the broader market.&nbsp;



Other cryptocurrencies were also lower Tuesday.&nbsp;<a href="https://www.cnbc.com/quotes/ETH.CM=">Ether</a>,&nbsp;<a href="https://www.cnbc.com/quotes/LTC.CM=">litecoin</a>&nbsp;and&nbsp;<a href="https://www.cnbc.com/quotes/DOGE.CM=">dogecoin</a>&nbsp;all spent the day in the red.&nbsp;



In an interview with CNBC’s&nbsp;<a href="https://www.cnbc.com/trading-nation/">“Trading Nation,”</a>&nbsp;Delano Saporu, founder of New Street Advisors, said he sees more pain ahead for bitcoin.&nbsp;



“I think you probably have more downside, maybe to around the $22,000 range [to] the $17,000 range for bitcoin going back to Dec. 20 of last year,” he said Tuesday. However, “from there, I do think there’ll be upside,” he said.



While short-term traders who invested in bitcoin at its highs are feeling the pain now, Saporu sees the cryptocurrency paying off for long-term investors. 



“A lot of people that were speculating when the price was really at its highs and they were jumping in at that time were really looking for a quick profit,” he said. “They were wrong at that time.”



In the same interview, Fairlead Strategies founder Katie Stockton said bitcoin investors may feel the squeeze for a little longer.



“It marks the bottom boundary of a consolidation phase,” she said of the move below $30,000. “With that, it becomes what I call ‘ripe for a shakeout.’”&nbsp;



According to Stockton, a shakeout is a “false breakdown” where the price of an investment dips below a support level. Following this dip, the price might quickly snap back once the market “shakes out those weak holders of bitcoin,” she said.



If bitcoin bounces back this week, she said, that would be a sign that this sell-off was temporary.



In addition, her model indicates that bitcoin is headed higher. She pointed to a secondary support level at around $27,000, which would be important to define its long-term uptrend.



Stockton added that she needs to see momentum turn for proof that this consolidation phase is bottoming. She predicts this would happen when bitcoin breaks out above the 50-day moving average, which is approximately $34,500 at current levels.&nbsp;



“That would be a convincing turnaround for bitcoin,” she added.



Disclosure:&nbsp;Delano&nbsp;Saporu holds bitcoin.



<a href="https://www.cnbc.com/stocks-disclaimer.html">Disclaimer</a>

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