Word: travellings
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...didn't have enough to contend with," strategists at the Royal Bank of Scotland wrote in a note to clients Monday, "it's just what we need now, a flu pandemic in the midst of the biggest financial crisis since the Great Depression." Amid the sell-off, travel industry stocks fell sharpest. Shares in Lufthansa, Europe's second-largest airline, tumbled by more than 12% before recovering slightly. Those of rival British Airways pulled back from similar lows, trading 8% down by mid-afternoon in London. Tour operators and hotel groups took similar hits. (See pictures of the swine...
...first is the sophisticated monitoring systems set up by the CDC in the United States, similar authorities in other countries, and the WHO on a global basis. The SARS outbreak in 2002 ended up killing less than 800 people, in part because of a near shutdown of world travel and minute-by-minute tracking of the progress of the disease around the world...
...From the volatility of global travel, investors sought the calm of safe havens. Both the dollar and the Japanese yen rose against major currencies. Defensive stocks, such as pharmaceuticals, registered healthy gains. Shares in Roche, the Swiss maker of Tamiflu, an antiviral drug effective against swine flu, had climbed almost 6% by Monday afternoon. Rival GlaxoSmithKline, which makes the influenza treatment Relenza, saw its shares rise even higher. (Read: "Swine Flu: 5 Things You Need to Know About the Outbreak...
...situation as a "public-health emergency of international concern," the apparent emergence in several countries of an entirely new strain of H1N1 flu virus has led some scientists to believe that it is only a matter of time before the WHO declares pandemic status, a move that could prompt travel bans to infected countries. "We are clearly seeing wide spread," says Michael Osterholm, a pandemic risk expert who runs the University of Minnesota's Center for Infectious Disease Research and Policy. "There is no question." (See a photogallery on swine flu hitting Mexico...
...That would leave the WHO and individual countries to fall back on damage control, using antivirals and old-fashioned infection control - like closing schools, limiting public gatherings and even restricting travel - to slow the spread of the virus. But such efforts would likely inflict serious damage on an already faltering global economy - and the truth is, we don't know how well those methods will work...