FirstFT: Scientists warn Covid will accelerate ‘dementia pandemic’

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The degenerative effect on the brain of coronavirus will add to the “pandemic of dementia” that will affect an estimated 80m people by the end of the decade, scientists and psychiatrists have warned.

Alzheimer’s Disease International, the global federation of dementia associations, unveiled a specialist working group today to ascertain the scale of the problem and recommend ways to combat it.

“We know that anything that diminishes your cognitive reserve and resilience is going to allow neurodegenerative processes to accelerate, which can cause symptoms of neurological disorders, such as dementia, to show earlier” — Alireza Atri, cognitive neurologist and chair of the ADI’s medical and scientific advisory panel

There is mounting evidence that Covid-19 can cause long-term brain damage. Similar biochemical changes have been observed in some coronavirus patients and in people with Alzheimer’s, indicating neuronal injury and inflammation.

Five more stories in the news

1. Joe Biden defends Afghanistan exit The US president launched his most forceful defence of the pullout from Afghanistan a day after the last American troops left Kabul. The chaotic withdrawal has hurt Biden domestically despite broad public support for ending the 20-year US military presence.

• Go deeper: With the US gone, the Taliban will show its true colours on human rights. Civilians are sceptical the Islamist group has the skills to tackle the country’s complex socio-economic problems. Follow our latest coverage of Afghanistan on FT.com.

2. SEC boss: Crypto platforms need regulation Gary Gensler, chair of the Securities and Exchange Commission, has warned in an interview with the Financial Times that cryptocurrency trading platforms are putting their survival at risk unless they heed his calls to work within the regulatory framework. “Finance is about trust, ultimately,” he said.

3. Strikes at global shipping giant, South Korea-based HMM, threaten supply chain ‘turmoil’ Analysts said a strike would probably cause further disruption to global tech and auto supply chains, which have been strained by material and parts shortages as well as bottlenecks at ports because of coronavirus-related restrictions and staffing shortfalls.

4. Theranos founder’s trial begins Elizabeth Holmes, founder of the collapsed blood testing start-up, appeared in court yesterday as jury selection began in one of the biggest trials involving alleged fraud in Silicon Valley.

5. Calls for Canadian National resignations over rail deal UK hedge fund manager Chris Hohn has demanded CN abandon its $34bn pursuit of Kansas City Southern and the resignations of chair Robert Pace and chief executive Jean-Jacques Ruest after the US railroad regulator rejected the structuring of the transaction over potential harm to the public interest. 

Coronavirus digest

• The fragmented US healthcare system has made it easier for some seeking an unofficial third vaccine to skip the queue.

• Millions of microfinance borrowers and small-business owners in India are struggling to pay their debts.

• Austria’s financial sector — in particular, its banks — is better positioned than most in Europe as social and economic life returns to normal.

Follow our live coronavirus blog and sign up to our Coronavirus Business Update email for a regular briefing on how the pandemic is affecting markets, global business and our workplaces.

The day ahead

Opec meeting Opec and its allies are likely to stick to plans to restore output when they meet today, but analysts said the group might have to adjust course as jitters grow around the economic recovery. Read more in yesterday’s Energy Source and sign up here to receive the newsletter in your inbox.

Brazil’s post-pandemic economic recovery The country’s latest GDP figures are due to be released today.

Raab faces Afghanistan scrutiny A House of Commons select committee will challenge Dominic Raab, UK foreign secretary, on the failure to foresee the Taliban’s rapid takeover or prepare an evacuation strategy earlier.

Ukraine-US meeting President Volodymyr Zelensky will make his first White House visit as he seeks military and economic aid to demonstrate that the Biden administration will not abandon his country.

European unemployment data Eurostat jobless numbers and Italy’s Istat unemployment figures are among an array of economic data released today. For the full list, see our Week Ahead newsletter — sign up here.

The FT, in partnership with the United Nations Foundation, is delighted to host a strategic preview of the UN General Assembly, bringing together diverse and insightful speakers to discuss what to expect, what is at stake and why it matters to you. Sign up here to join on September 15.

What else we’re reading

Education crisis looms in Latin America in wake of Covid Schools across the region have remained closed for much of the pandemic, forcing students to distance learn — often over unreliable mobile and internet connections. The World Bank estimates prolonged closures could cost Latin America $1.7tn in lost future income.

Join the FT online as speakers from ISA, World Bank, BlackRock and Natura will analyse post-pandemic scenarios in Latin America and discuss how business, government and civil society can work together to move towards a more sustainable future. Sign up here to join on September 2.

FT 1000: Europe’s Fastest Growing Companies The latest annual ranking of businesses by revenue growth puts a UK energy provider in the top slot. Explore the 2021 list and apply for a place in the sixth ranking, by November 30.

Google goes full-speed on developing its own chips The US tech giant plans to start using self-developed central processing units for its laptop and tablet computers, which run on its Chrome operating system, around 2023, according to a Nikkei Asia exclusive.

Politico deal gives Axel Springer profits and a US platform With Google and Facebook vacuuming up the advertising dollars, media organisations have two choices. They can either find specialised revenue streams that the big tech companies cannot tap, or they can try to wrest some of the mainstream money back. In buying Politico, the German publisher is seeking ways to do both.

Employers are covering fertility treatment Company perks used to range from a gym membership to a car. Now, a small but increasing number of UK employers are offering to cover the cost of in vitro fertilisation and surrogacy for staff. Should companies offer fertility benefits? Take our poll.

Music

As climate change and Covid raged and Afghanistan witnessed the largest US military retreat since Vietnam, some people spent the summer obsessing over another matter: would Kanye West’s latest album ever be released? After weeks of delays and anticipation, Donda turned out to be a dud, Ludovic Hunter-Tilney writes.