Archives for May 13, 2020

May 13, 2020 at 8:41 pm ET

Coronavirus News From Around the World

May 13, 2020 at 7:22 pm ET

Abbott’s Coronavirus Test Falls Short of Rival Device, Study Says

Researchers said a device manufactured by Abbott Laboratories widely used to swiftly detect coronavirus, including among senior White House officials, missed nearly half of the positive cases detected by another common test.

The researchers at NYU Langone Health in New York City compared the Abbott ID Now to another device, finding that it missed 48% of positive cases the other machine detected. The NYU study hasn’t been peer-reviewed and was posted online Tuesday ahead of formal publication.

Medical experts say what are known as false negatives could lead people infected with the virus to unknowingly spread the virus. At the White House, where President Trump, Vice President Pence and other senior officials are regularly tested using the device, that risk was highlighted when two aides tested positive last week.

Abbott said “it is unclear if the samples were tested correctly in this study.” The company said it has distributed about 1.8 million ID Now tests, and the reported rate of false negatives to Abbott is 0.02%. The company said the NYU results weren’t consistent with other studies of the test, such as one conducted by city officials in Detroit that found the ID Now correctly detected 48 out of 49 positive samples.

May 13, 2020 at 6:59 pm ET

Brink’s Adds Masks and Gloves to Protection Plans

Firearms, bulletproof vests and armored trucks are typical purchases for Ron Domanico. Yet in recent weeks, the finance chief of the Brink’s Co. has dispatched a team to find face masks and other personal protective equipment for his 64,600 employees around the world because of the coronavirus pandemic. “At Brink’s, I have always had responsibility for strategic sourcing,” said Mr. Domanico. “But it’s never been gloves and masks before.”

The Richmond, Va.-based company moves money for financial institutions, retailers and other businesses. Many of its employees—11,600 in the U.S.—drive around in heavy armored trucks refilling automated teller machines and collecting payments and valuables. The company in March reassigned its sourcing team, including eight employees who work for Mr. Domanico, to buying PPE, the bulk of it from China.

Finding suppliers was one challenge for Brink’s. Getting its orders fulfilled was another. And instead of following the standard procedure of sourcing strategic supplies for just a few countries at a time, Brink’s sought to purchase equipment for workers across the 47 countries it operates in. The company prepaid its manufacturers and didn’t haggle much about the price. In some instances, the company agreed to pay a premium, Mr. Domanico said. “We usually don’t do that,” he said.

May 13, 2020 at 6:49 pm ET

Tyson Reduces Some Beef Prices as Coronavirus Pushes Grocery-Store Costs Higher

Tyson Foods is lowering some prices it charges supermarkets and restaurants for beef, after coronavirus-driven disruptions at meatpacking plants have led to a surge in meat costs.

The Arkansas company, which processes about one-fifth of the nation’s beef, plans to reduce prices for ground beef, roasts and other beef products by as much as 20% to 30% for sales made this week to restaurants, grocery stores and other customers. The move will help keep beef affordable, said Noel White, Tyson’s chief executive.

Discounting beef products will help preserve consumer demand as processing plants resume normal operations, which will benefit Tyson and cattle producers, said Mr. White. “We’re doing this because we want to help keep beef on family tables,” he said.

May 13, 2020 at 6:32 pm ET

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Coronavirus Dried Up This Production Company’s Business. Then It Created Remote Shooting Kits.

To shoot its music-video cover of Lil Nas X’s hit “Panini” in April, the children’s entertainment brand Kidz Bop Entertainment needed to direct and choreograph young performers in four cities—while navigating the stay-at-home orders of the pandemic.

It turned in part to drop-offs of sterilized production equipment organized by Hayden5, a New York-based production company that has turned the idea into a lifeline for its business during lockdown.

Revenue on the service, called Drop Kits, and accompanying remote production work has topped $1 million, Hayden5 co-founder Todd Wiseman said.“Virtually none of these new jobs would have come to us without Drop Kits,” Mr. Wiseman said.