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Coronavirus live news: global cases near million mark as US federal stockpile of medical equipment dwindles Coronavirus live news: global cases near million mark as US federal stockpile of medical equipment dwindles
(31 minutes later)
Trump says personal protective gear has nearly run out; Florida, Georgia, Mississippi ordered to shelter in place; record daily fatalities in UK. Follow the latest updates.Trump says personal protective gear has nearly run out; Florida, Georgia, Mississippi ordered to shelter in place; record daily fatalities in UK. Follow the latest updates.
Still with finance but a really good insight into how the virus is heaping costs on higher risk businesses such as the cruise ship operator Carnival.
The company has clearly been very badly affected by the outbreak on several of its vessels and its shares in the US have fallen 80% this year. It has admitted that demand might never be the same again and has been forced to pay a massive premium to raise money this week to keep afloat.
It has raised $6.25bn in the US by issuing new debt and equity. But while the issue was oversubscribed, Carnival priced $4bn in bonds maturing in 2023 with a yield (or interest rate) at par value of 11.5%, it said.
That’s a huge cost. Carnival paid a 1% yield in October, when it borrowed $657.7m in the European debt market. Significantly it also had to use its ships as collateral to secure the funding.
The company also raised $1.75bn in convertible notes with a 5.75% coupon, it added.
For more on the credit crunch facing companies, this is a piece I wrote a week or so agO;
Financial markets are in a strange position at the moment. They have recovered some losses thanks to massive government and central bank intervention around the world, but the grim reality of what the virus is doing to economies continues to weigh on investor sentiment.
In Australia the ASX200 benchmark index is off nearly 2% today as parts of the nation contemplate another 90 days of lockdown. In Japan, the Nikkei is down 0.4% as cases continue to rise. Shares in China, Hong Kong and Korea are up.
The US dollar held gains against other currencies as people continue to shift their money into the greenback because it’s seen as a safe haven at a time when everything else is turning to custard.
Trump’s warnings about tough days ahead are not helping here.
This comment to Reuters from one expert, Chris Rupkey, chief financial economist at MUFG Union Bank in New York, is quite chilling:.
Known global cases pass 935,000. According to data collected by researchers at Johns Hopkins University, 937,091 people around the world have become infected, 47,231 of whom have died. They also count 193,764 people who have recovered.
US intelligence accuses China of playing down crisis. American officials reportedly believe China has been underreporting the total number of cases and deaths. The conclusions of a classified report from the intelligence community to the White House were revealed to Bloomberg by three anonymous officials who declined to detail its contents.
Trump said that the federal stockpile of personal protective equipment is nearly empty. Trump is also resisting calls to issue a national stay-at-home order to stem the spread of the new coronavirus despite his administration’s projections that tens of thousands of Americans are likely to be killed by the disease.
Los Angeles mayor Eric Garcetti is asking Angelinos to wear face masks when they leave the house to combat the spread of the coronavirus.
The US states of Florida, Georgia and Mississippi issued stay-home orders. More than 280m people in at least 36 US states, as well in several dozen counties the District of Columbia and Puerto Rico are now being told to stay home.
British Airways expected to announce suspension of 36,000 employees. IAG-owned British Airways is expected to announce a suspension of about 36,000 of its employees, BBC News reported on Wednesday.
Australia announced free childcare. Australian prime minister Scott Morrison has announced that parents need childcare during the crisis will be able to access it for free, and that childcare centres will remain open.
New Zealand reported its biggest one-day rise in cases. With 89 cases – including 76 positive cases and 13 probable – New Zealand has reported its highest daily rise so far, according to Director-General of Health Ashley Bloomfield.
Key UN climate talks, Cop26, that were due to take place in Glasgow in November have been postponed until 2021, it has been announced. The UN’s climate change chief, Patricia Espinosa has also called Covid-19 the “most urgent threat facing humanity”,
The UK’s Ministry of Defence is calling up about 3,000 reservists to help with its pandemic response. That brings the number of armed forces personnel helping manage the crisis to about 23,000.
Director of WHO “deeply concerned”. Dr Tedros Adhanom Ghebreyesus, director of the WHO, has said he was “deeply concerned about the rapid escalation and global spread of infection”.
UK death toll passes 2,300. The UK government has confirmedhundreds more deaths in hospitals, taking the total to 2,352. However, figures from the Office for National Statistics have already revealed that dozens more people have been dying as a result of the pandemic in care homes and other settings.
New York City death toll passes 1,000. Deaths from the coronavirus reached 1,096 in New York City as an emergency field hospital opened in Central Park. Data released by the city’s health department showed the virus was having a disproportionate effect in certain neighbourhoods, mainly Brooklyn and Queens.
Spain passes 100,000 confirmed cases. Spain has crossed the threshold of 100,000 confirmed cases, health officials have said. According to official figures, it has had more cases than any country except Italy and the US.
With 89 cases – including 76 positive cases and 13 probable – New Zealand has reported its highest daily rise so far, according to Director-General of Health Ashley Bloomfield.With 89 cases – including 76 positive cases and 13 probable – New Zealand has reported its highest daily rise so far, according to Director-General of Health Ashley Bloomfield.
There are now almost 800 cases in the country.There are now almost 800 cases in the country.
Indonesia may start a new holiday to replace the Eid exodus amid coronavirus concerns, Reuters reports.Indonesia may start a new holiday to replace the Eid exodus amid coronavirus concerns, Reuters reports.
Indonesian President Joko Widodo said on Thursday the government is considering starting a new national holiday to prevent the annual mass exodus usually occurring at the end of the Muslim fasting month amid concerns over the spread of Covid-19.Indonesian President Joko Widodo said on Thursday the government is considering starting a new national holiday to prevent the annual mass exodus usually occurring at the end of the Muslim fasting month amid concerns over the spread of Covid-19.
Widodo said at a cabinet meeting that measures could be put in place during the new holiday such as making tourist attractions free to help “bring some calm to the people”. Indonesians, nearly 90% of whom are Muslim, celebrate the end of Ramadan or the Eid al-Fitr festival with a feast and new clothes, usually returning to their home villages or towns. Ramadan this year falls over April and May.Widodo said at a cabinet meeting that measures could be put in place during the new holiday such as making tourist attractions free to help “bring some calm to the people”. Indonesians, nearly 90% of whom are Muslim, celebrate the end of Ramadan or the Eid al-Fitr festival with a feast and new clothes, usually returning to their home villages or towns. Ramadan this year falls over April and May.
South Korea will allow coronavirus patients to vote by mail or as an absentee in this month’s parliamentary elections, as campaigning started on Thursday, Reuters reports.South Korea will allow coronavirus patients to vote by mail or as an absentee in this month’s parliamentary elections, as campaigning started on Thursday, Reuters reports.
Voters will go to the polls on 15 April to elect 300 members of the National Assembly for the next four years, posing challenges over how to prevent a spread of the coronavirus at polling places while ensuring people’s right to vote. The some 4,000 patients receiving treatment will be able to case their ballot via mail or early absentee voting, Interior Minister Chin Young said. A two-week campaign period for the election began on Thursday with candidates wearing masks and shunning handshakes and large rallies. The National Election Commission has said all voters must wear a mask when they go to the polling stations, use sanitisers and gloves available there, and maintain distance with others. Officials will conduct temperature checks at the entrance and regular disinfection work. The Korea Centers for Disease Control and Prevention (KCDC) reported 89 new cases on Thursday, taking the national tally to 9,976. A total of 5,828 have recovered from the virus, while 4,148 are still receiving treatment.Voters will go to the polls on 15 April to elect 300 members of the National Assembly for the next four years, posing challenges over how to prevent a spread of the coronavirus at polling places while ensuring people’s right to vote. The some 4,000 patients receiving treatment will be able to case their ballot via mail or early absentee voting, Interior Minister Chin Young said. A two-week campaign period for the election began on Thursday with candidates wearing masks and shunning handshakes and large rallies. The National Election Commission has said all voters must wear a mask when they go to the polling stations, use sanitisers and gloves available there, and maintain distance with others. Officials will conduct temperature checks at the entrance and regular disinfection work. The Korea Centers for Disease Control and Prevention (KCDC) reported 89 new cases on Thursday, taking the national tally to 9,976. A total of 5,828 have recovered from the virus, while 4,148 are still receiving treatment.
A Guatemalan migrant died and 14 others were taken to hospital after a riot broke out in a detention centre in southern Mexico, authorities said on Wednesday, as tensions rise in such facilities due to the spread of the coronavirus, Reuters reports. It started on Tuesday evening in the state of Tabasco after migrants voiced concerns about coronavirus and recent border closures, Mexico’s interior ministry and National Migration Institute (INM) said.A Guatemalan migrant died and 14 others were taken to hospital after a riot broke out in a detention centre in southern Mexico, authorities said on Wednesday, as tensions rise in such facilities due to the spread of the coronavirus, Reuters reports. It started on Tuesday evening in the state of Tabasco after migrants voiced concerns about coronavirus and recent border closures, Mexico’s interior ministry and National Migration Institute (INM) said.
As cases of coronavirus rise in Mexico, concerns are mounting over how to prevent the spread of the disease among the thousands of migrants who have been waylaid in the country as a result of hardline US immigration policies. Mexico has registered 1,378 coronavirus cases and 37 deaths; its detention centres are seen as particularly vulnerable. One 42-year-old Guatemalan died and 14 people were taken to hospitals in Tenosique and Villahermosa for smoke inhalation after migrants set fire to mattresses, authorities said, adding that 27 migrants escaped during the turmoil.As cases of coronavirus rise in Mexico, concerns are mounting over how to prevent the spread of the disease among the thousands of migrants who have been waylaid in the country as a result of hardline US immigration policies. Mexico has registered 1,378 coronavirus cases and 37 deaths; its detention centres are seen as particularly vulnerable. One 42-year-old Guatemalan died and 14 people were taken to hospitals in Tenosique and Villahermosa for smoke inhalation after migrants set fire to mattresses, authorities said, adding that 27 migrants escaped during the turmoil.
Japan’s government and ruling parties agreed to exempt firms from certain taxes if their sales decline by more than half from the previous year in any three-month period between February and October amid the coronavirus outbreak, Kyodo newswire said on Thursday.Japan’s government and ruling parties agreed to exempt firms from certain taxes if their sales decline by more than half from the previous year in any three-month period between February and October amid the coronavirus outbreak, Kyodo newswire said on Thursday.
Firms would be exempted from taxation on property and assets if they see sales decline by more than half in a three-month period, Kyodo said. Prime Minister Shinzo Abe on Saturday ordered his cabinet to compile an unprecedented package of steps to support the world’s third-largest economy as the pandemic threatened widespread disruption across the nation.Firms would be exempted from taxation on property and assets if they see sales decline by more than half in a three-month period, Kyodo said. Prime Minister Shinzo Abe on Saturday ordered his cabinet to compile an unprecedented package of steps to support the world’s third-largest economy as the pandemic threatened widespread disruption across the nation.
More now on Dr Fauci’s extra security needs:More now on Dr Fauci’s extra security needs:
Security for Dr Anthony Fauci, the 79-year-old infectious disease expert who has become a calm, reassuring foil to Donald Trump at coronavirus briefings, has been expanded, according to multiple reports.Security for Dr Anthony Fauci, the 79-year-old infectious disease expert who has become a calm, reassuring foil to Donald Trump at coronavirus briefings, has been expanded, according to multiple reports.
While Fauci’s straight talk and willingness to gently correct the president’s outrageous exaggerations has drawn admiration from late-night talkshow hosts, professional basketball players and doughnut shop owners alike, the doctor has received threats and unwelcome communications from both critics and fervent admirers. The Washington Post first reported the news.While Fauci’s straight talk and willingness to gently correct the president’s outrageous exaggerations has drawn admiration from late-night talkshow hosts, professional basketball players and doughnut shop owners alike, the doctor has received threats and unwelcome communications from both critics and fervent admirers. The Washington Post first reported the news.
At a coronavirus taskforce briefing at the White House on Wednesday, Fauci declined to comment on whether he was receiving security protection, deferring to the health department’s inspector general.At a coronavirus taskforce briefing at the White House on Wednesday, Fauci declined to comment on whether he was receiving security protection, deferring to the health department’s inspector general.
Trump interjected, saying that Fauci “doesn’t need security, everybody loves him”. If anyone were to attack Fauci, Trump added, “they’d be in big trouble”, touting the disease expert’s high school athletic career.Trump interjected, saying that Fauci “doesn’t need security, everybody loves him”. If anyone were to attack Fauci, Trump added, “they’d be in big trouble”, touting the disease expert’s high school athletic career.
“He was a great basketball player, did anybody know that?” Trump said. “He was a little on the short side for the NBA but he was talented.” As basketball captain at Regis high school in 1958, Fauci had helped lead the team to an unlikely victory.“He was a great basketball player, did anybody know that?” Trump said. “He was a little on the short side for the NBA but he was talented.” As basketball captain at Regis high school in 1958, Fauci had helped lead the team to an unlikely victory.
IAG-owned British Airways is expected to announce a suspension of about 36,000 of its employees, BBC News reported on Wednesday. The airline has reached a broad deal with Unite union that will include suspension of jobs of 80% of BA’s cabin crew, ground staff, engineers and those working at head office, the news agency reported, adding that no staff were expected to be made redundant. Talks with the union are still ongoing, British Airways said in a brief statement to Reuters. British Airways had said on Tuesday it was temporarily suspending flights from Gatwick Airport, Britain’s second-busiest airport, as the aviation sector reels under the coronavirus crisis.IAG-owned British Airways is expected to announce a suspension of about 36,000 of its employees, BBC News reported on Wednesday. The airline has reached a broad deal with Unite union that will include suspension of jobs of 80% of BA’s cabin crew, ground staff, engineers and those working at head office, the news agency reported, adding that no staff were expected to be made redundant. Talks with the union are still ongoing, British Airways said in a brief statement to Reuters. British Airways had said on Tuesday it was temporarily suspending flights from Gatwick Airport, Britain’s second-busiest airport, as the aviation sector reels under the coronavirus crisis.
Americans purchasing record-breaking numbers of guns amid coronavirusAmericans purchasing record-breaking numbers of guns amid coronavirus
Americans have responded to the coronavirus epidemic with a record-breaking number of gun purchases, according to new government data on the number of background checks conducted in March.Americans have responded to the coronavirus epidemic with a record-breaking number of gun purchases, according to new government data on the number of background checks conducted in March.
More than 3.7m total firearm background checks were conducted through the FBI’s background check system in March, the highest number on record in more than 20 years. An estimated 2.4m of those background checks were conducted for gun sales, according to adjusted statistics from a leading firearms industry trade group. That’s an 80% increase compared with the same month last year, the trade group said.More than 3.7m total firearm background checks were conducted through the FBI’s background check system in March, the highest number on record in more than 20 years. An estimated 2.4m of those background checks were conducted for gun sales, according to adjusted statistics from a leading firearms industry trade group. That’s an 80% increase compared with the same month last year, the trade group said.
Nearly 1.2m total gun background checks were conducted in a single week, starting 16 March, breaking all previous records going back to 1998, according to FBI data.Nearly 1.2m total gun background checks were conducted in a single week, starting 16 March, breaking all previous records going back to 1998, according to FBI data.
While the number of background checks doesn’t correlate one-to-one in terms of guns sold, the number of firearm background checks conducted through the FBI’s National Instant Criminal Background Check System is the best available proxy for gun sales in the United States. The figures highlight how the pandemic has created a surge in demand for gun ownership, with some gun stores finding themselves inundated with panic-buyers, including, at least anecdotally, many Americans purchasing a gun for the first time.While the number of background checks doesn’t correlate one-to-one in terms of guns sold, the number of firearm background checks conducted through the FBI’s National Instant Criminal Background Check System is the best available proxy for gun sales in the United States. The figures highlight how the pandemic has created a surge in demand for gun ownership, with some gun stores finding themselves inundated with panic-buyers, including, at least anecdotally, many Americans purchasing a gun for the first time.
In Australia, prime minister Scott Morrison has announced that parents need childcare during the crisis will be able to access it for free, and that childcare centres will remain open.In Australia, prime minister Scott Morrison has announced that parents need childcare during the crisis will be able to access it for free, and that childcare centres will remain open.
Morrison also said the spread was slowing, and that federal parliament would resume next week Wednesday.Morrison also said the spread was slowing, and that federal parliament would resume next week Wednesday.
We reported earlier based on an AFP alert that the US had recorded its highest daily number of coronavirus-related deaths, but analysis by the Wall Street Journal shows that the previous day’s record appears to have been higher:We reported earlier based on an AFP alert that the US had recorded its highest daily number of coronavirus-related deaths, but analysis by the Wall Street Journal shows that the previous day’s record appears to have been higher:
“In the US, 884 people died between 8 p.m Tuesday and the same time Wednesday, according to a Wall Street Journal analysis of Johns Hopkins data. That was down slightly from 895 in the prior 24 hours, a record in the US for the pandemic.“In the US, 884 people died between 8 p.m Tuesday and the same time Wednesday, according to a Wall Street Journal analysis of Johns Hopkins data. That was down slightly from 895 in the prior 24 hours, a record in the US for the pandemic.
For those of you who think you have an excuse to wear sweatpants, tracksuits – or “tracky dacks” or “joggers” as they’re known in Australia in your Zoom meetings:For those of you who think you have an excuse to wear sweatpants, tracksuits – or “tracky dacks” or “joggers” as they’re known in Australia in your Zoom meetings:
Brazil confirms first indigenous case of coronavirus in AmazonBrazil confirms first indigenous case of coronavirus in Amazon
An indigenous woman in a village deep in the Amazon rainforest has contracted the novel coronavirus, the first case reported among Brazil’s more than 300 tribes, the Health Ministry’s indigenous health service Sesai has said.An indigenous woman in a village deep in the Amazon rainforest has contracted the novel coronavirus, the first case reported among Brazil’s more than 300 tribes, the Health Ministry’s indigenous health service Sesai has said.
The 20-year-old from the Kokama tribe tested positive for the virus in the district of Santo Antonio do Iá, near the border with Colombia, 880km (550 miles) up the Amazon river from the state capital Manaus, Sesai said in a statement on Wednesday.The 20-year-old from the Kokama tribe tested positive for the virus in the district of Santo Antonio do Iá, near the border with Colombia, 880km (550 miles) up the Amazon river from the state capital Manaus, Sesai said in a statement on Wednesday.
Four cases of coronavirus have been confirmed in the same district, including a doctor who tested positive last week, raising fears the epidemic could spread to remote and vulnerable indigenous communities with devastating effect.Four cases of coronavirus have been confirmed in the same district, including a doctor who tested positive last week, raising fears the epidemic could spread to remote and vulnerable indigenous communities with devastating effect.
You can contact me with news, tips or questions on Twitter @helenrsullivan.You can contact me with news, tips or questions on Twitter @helenrsullivan.