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Coronavirus live updates: stock markets plunge as infections pass 110,000 Coronavirus live updates: stock markets plunge as infections pass 110,000
(32 minutes later)
With cases spiking sharply across Europe and emergency measures in place from California to Saudi Arabia, investors have sent shares tumblingWith cases spiking sharply across Europe and emergency measures in place from California to Saudi Arabia, investors have sent shares tumbling
Culture Secretary Oliver Dowden has been speaking to BBC Breakfast ahead of a meeting organised by his department with sporting bodies and broadcasters. Asked about holding games behind closed doors as is the case in Italy, he said: The EU council, the Brussels institution that brings together diplomats and ministers from the member states for policy-making, said this morning it would hold only essential meetings due to Coronavirus – and officials have suggested everyone avoid “handshakes and kisses”.
Meanwhile, the former prime minister of Romania, Dacian Cioloș, who leads the Renew group in the European parliament, is seeking either the suspension of the chamber or a substantial reduction to its agenda. The session this week has already been moved to Brussels rather than Strasbourg due to the epidemic.
Iranian state-linked media have announced that 16 people have died from alcohol poisoning in the south-western city of Ahvaz, the latest in a wave of deaths apparently driven by the mistaken belief that alcohol is a vaccine against the coronavirus. Alcohol is banned in the country but is still illegally imported or brewed at home – the latter occasionally resulting in deaths from bad batches.
The head of Iran’s crisis management authority, Ismail Najjar, is the latest official who has contracted the virus, which has infected 6,500 people according to Iran’s official tally. Nearly 200 people have died, including at least 49 people over the weekend.
The German government has decided on a raft of measures to soften the blow of the corona irus on Europe’s largest economy, as the number taken ill rose to 1,112 on Monday, reports the Guardian’s Berlin correspondent, Kate Connolly.
The measures include giving bridging loans to businesses and extending their tax payment deadlines as well as partially compensating employers who are forced to introduce reduced working hours to allow them to continue paying their employees’ wages.
In an emergency meeting that went on into the night, the Christian Democratic Union and their junior partners, the Social Democrats, who make up the grand coalition under Angela Merkel, said the measures – including a €12.4bn state investment package – were meant to ensure that Corona does not completely upend the German economy.
It has already done considerable damage, with the German stock index, the DAX taking a severe hit, the nation’s flagship airline, Lufthansa forced to cut its flights by half in an attempt to cope with the collapse in ticket sales, and large scale conferences and trade fairs, such as the international tourism fair, the ITB, and the Leipzig Book Fair having been cancelled. Bundesliga matches are likely to soon follow the list of cancelled events, after health minister Jens Spahn yesterday recommended that all gatherings involving 1000 people or more should be banned.
The likelihood that schools and universities in the regions hardest hit – such as the western state of North Rhein Westphalia, which has 484 cases – will close in the coming days is growing, particularly if the number continues to rise.
The culture secretary, Oliver Dowden, has been speaking to BBC Breakfast before a meeting organised by his department with sporting bodies and broadcasters. Asked about holding games behind closed doors as is the case in Italy, he said:
He added:He added:
The FTSE 100 leading index of shares has plunged more than 8% in early trading as investors react to the oil price war launched by Saudi Arabia overnight, which wiped 30% of the price of a barrel of oil. It is on track for its worst one-day fall since 2008.The FTSE 100 leading index of shares has plunged more than 8% in early trading as investors react to the oil price war launched by Saudi Arabia overnight, which wiped 30% of the price of a barrel of oil. It is on track for its worst one-day fall since 2008.
Graeme Wearden has more details on our Business live blog here.Graeme Wearden has more details on our Business live blog here.
Today’s Cobra meeting will be attended by senior ministers as well as the chief medical officer and chief scientific adviser. In comments released ahead of the meeting, Boris Johnson said:Today’s Cobra meeting will be attended by senior ministers as well as the chief medical officer and chief scientific adviser. In comments released ahead of the meeting, Boris Johnson said:
The government has set up a counter disinformation unit “to protect and secure the UK from interference and disinformation linked to the coronavirus”. Culture secretary Oliver Dowden said:The government has set up a counter disinformation unit “to protect and secure the UK from interference and disinformation linked to the coronavirus”. Culture secretary Oliver Dowden said:
Israel is considering forcing anyone arriving in the country, from any part of the world, to self-isolate for at least 14 days, reports the Guardian’s Jerusalem correspondent Oliver Holmes. Its government has already imposed some of the most stringent rules globally to block the spread of the virus.Israel is considering forcing anyone arriving in the country, from any part of the world, to self-isolate for at least 14 days, reports the Guardian’s Jerusalem correspondent Oliver Holmes. Its government has already imposed some of the most stringent rules globally to block the spread of the virus.
The potential move has also been interpreted domestically as a measure to avoid irking the country’s close ally and benefactor in Washington, Donald Trump. Israel already requires travellers arriving from more than a dozen countries to spend two weeks in home isolation, effectively killing off incoming tourism.Following outbreaks in the US, pressure has been building to add the country to the list. But rather than extending the rules specifically on US travellers, and risk an angry backlash from the White House, Israel might broaden its policy out to the entire planet.Prime Minister Benjamin Netanyahu spoke with US Vice President Mike Pence on Sunday, after Israeli media reported the country was considering barring visitors from parts of the US, such as New York and California.The Israeli government has still not made a decision, although it could be announced in the coming hours.Health authorities have said that the number of coronavirus cases in Israel jumped from 25 to 39 over the weekend. Around 80,000 Israelis are already in self-isolation.The potential move has also been interpreted domestically as a measure to avoid irking the country’s close ally and benefactor in Washington, Donald Trump. Israel already requires travellers arriving from more than a dozen countries to spend two weeks in home isolation, effectively killing off incoming tourism.Following outbreaks in the US, pressure has been building to add the country to the list. But rather than extending the rules specifically on US travellers, and risk an angry backlash from the White House, Israel might broaden its policy out to the entire planet.Prime Minister Benjamin Netanyahu spoke with US Vice President Mike Pence on Sunday, after Israeli media reported the country was considering barring visitors from parts of the US, such as New York and California.The Israeli government has still not made a decision, although it could be announced in the coming hours.Health authorities have said that the number of coronavirus cases in Israel jumped from 25 to 39 over the weekend. Around 80,000 Israelis are already in self-isolation.
The department of digital, culture, media and sport is to host a meeting of sports governing bodies and broadcasters to discuss holding events behind closed doors if the coronavirus outbreak worsens.The department of digital, culture, media and sport is to host a meeting of sports governing bodies and broadcasters to discuss holding events behind closed doors if the coronavirus outbreak worsens.
The Italian government has ordered all major sporting events to be held without fans and the Italy v England Six Nations rugby match, due to be held in Rome in this weekend, has been postponed.The Italian government has ordered all major sporting events to be held without fans and the Italy v England Six Nations rugby match, due to be held in Rome in this weekend, has been postponed.
Hello from London.Hello from London.
The UK prime minister, Boris Johnson, will chair an emergency Cobra meeting later today to discuss the response to the coronavirus outbreak. The meeting is expected to consider whether or not to move from the ”contain” phase to the “delay” phase of the government’s four-part action plan. The “delay” phase involves an acceptance that the virus has taken hold in the UK and focuses on “lowering the peak impact and pushing it away from the winter season”. The phase could involve closing schools, banning large public gatherings and urging people to work from home.The UK prime minister, Boris Johnson, will chair an emergency Cobra meeting later today to discuss the response to the coronavirus outbreak. The meeting is expected to consider whether or not to move from the ”contain” phase to the “delay” phase of the government’s four-part action plan. The “delay” phase involves an acceptance that the virus has taken hold in the UK and focuses on “lowering the peak impact and pushing it away from the winter season”. The phase could involve closing schools, banning large public gatherings and urging people to work from home.
Here’s a reminder of the phases of the government’s plan to respond to coronavirus.Here’s a reminder of the phases of the government’s plan to respond to coronavirus.
Contain: detect early cases, follow up close contacts, and prevent the disease taking hold in this country for as long as is reasonably possibleContain: detect early cases, follow up close contacts, and prevent the disease taking hold in this country for as long as is reasonably possible
Delay: slow the spread in this country, if it does take hold, lowering the peak impact and pushing it away from the winter seasonDelay: slow the spread in this country, if it does take hold, lowering the peak impact and pushing it away from the winter season
Research: better understand the virus and the actions that will lessen its effect on the UK population; innovate responses including diagnostics, drugs and vaccines; use the evidence to inform the development of the most effective models of careResearch: better understand the virus and the actions that will lessen its effect on the UK population; innovate responses including diagnostics, drugs and vaccines; use the evidence to inform the development of the most effective models of care
Mitigate: provide the best care possible for people who become ill, support hospitals to maintain essential services and ensure ongoing support for people ill in the community to minimise the overall impact of the disease on society, public services and on the economyMitigate: provide the best care possible for people who become ill, support hospitals to maintain essential services and ensure ongoing support for people ill in the community to minimise the overall impact of the disease on society, public services and on the economy
That’s it from me, Helen Sullivan, for now. I’ll be back with you tomorrow. In the meantime, my colleague Frances Perraudin will be taking over the blog. You can find the latest summary of events here.That’s it from me, Helen Sullivan, for now. I’ll be back with you tomorrow. In the meantime, my colleague Frances Perraudin will be taking over the blog. You can find the latest summary of events here.
France has banned gatherings of 1,000, as two more MPs are infected, bringing the number of French lawmakers infected with the virus to four, AFP reports.France has banned gatherings of 1,000, as two more MPs are infected, bringing the number of French lawmakers infected with the virus to four, AFP reports.
Oliver Veran confirmed the beefed-up measures on Sunday but said officials would issue a list of events considered “useful to national life” that would be allowed to continue – such as demonstrations.Oliver Veran confirmed the beefed-up measures on Sunday but said officials would issue a list of events considered “useful to national life” that would be allowed to continue – such as demonstrations.
With more than 1,100 recorded cases and 19 deaths so far, France is the second worst affected European country after its neighbour Italy, which has imposed a sweeping lockdown on the most hard-hit northern regions.With more than 1,100 recorded cases and 19 deaths so far, France is the second worst affected European country after its neighbour Italy, which has imposed a sweeping lockdown on the most hard-hit northern regions.
The French government had already banned gatherings in confined venues of more than 5,000 people – a measure that had been set to continue until 15 April. Veran did not specify the terms of the latest, stricter ban.The French government had already banned gatherings in confined venues of more than 5,000 people – a measure that had been set to continue until 15 April. Veran did not specify the terms of the latest, stricter ban.
“This evening we are still in the ‘second stage’, meaning that our priority is to do everything to slow the spread of the virus in our national territory,” he said.“This evening we are still in the ‘second stage’, meaning that our priority is to do everything to slow the spread of the virus in our national territory,” he said.
France is preparing to transition to its third level of alert, which would include school closures and public transport suspensions in an attempt to mitigate the consequences of an outbreak – measures that President Emmanuel Macron has said are “unavoidable”.France is preparing to transition to its third level of alert, which would include school closures and public transport suspensions in an attempt to mitigate the consequences of an outbreak – measures that President Emmanuel Macron has said are “unavoidable”.
A swathe of northern Italy was sealed off Monday as authorities struggled to contain the spread and impact of the deadly coronavirus.A swathe of northern Italy was sealed off Monday as authorities struggled to contain the spread and impact of the deadly coronavirus.
An area that is home to around a quarter of Italy’s population was effectively shuttered – including the cities of Milan and Venice – mimicking a lockdown at the centre of the outbreak of the disease in China.An area that is home to around a quarter of Italy’s population was effectively shuttered – including the cities of Milan and Venice – mimicking a lockdown at the centre of the outbreak of the disease in China.
Tens of millions of people are in virtual quarantine, but there are fears that the disease may spread further and disruptions could force several economies into recession.Tens of millions of people are in virtual quarantine, but there are fears that the disease may spread further and disruptions could force several economies into recession.
In Italy, police will set up controls at train stations, stopping all cars on main roads in and out, flights from Milan are suspended and there will be penalties of three months in jail or a €206 (US$233) fine for flouting the rules.In Italy, police will set up controls at train stations, stopping all cars on main roads in and out, flights from Milan are suspended and there will be penalties of three months in jail or a €206 (US$233) fine for flouting the rules.
The are mounting concerns that the US – the world’s largest and most connected economy – could be the next Covid-19 hotspot.The are mounting concerns that the US – the world’s largest and most connected economy – could be the next Covid-19 hotspot.
There are almost 110,000 confirmed cases of Covid-19 worldwide, according to Johns Hopkins. The total is currently 109,965. The total number of deaths from the virus stands at 3,824.There are almost 110,000 confirmed cases of Covid-19 worldwide, according to Johns Hopkins. The total is currently 109,965. The total number of deaths from the virus stands at 3,824.
Of the infections:Of the infections:
80,735 are in Mainland China80,735 are in Mainland China
7,375 are in Italy7,375 are in Italy
7,313 are in South Korea7,313 are in South Korea
6,566 are in Iran6,566 are in Iran
1,209 are in France1,209 are in France
1,040 are in Germany.1,040 are in Germany.
Spain has the next highest number of cases, with 673, followed by the us with 547.Spain has the next highest number of cases, with 673, followed by the us with 547.
Germany announces economic measures to stall ‘corona-crisis’Germany announces economic measures to stall ‘corona-crisis’
Germany announced measures to boost its sputtering economy in the face of the fast-spreading coronavirus on Monday, while also calling for the cancellation of large events, AFP reports.Germany announced measures to boost its sputtering economy in the face of the fast-spreading coronavirus on Monday, while also calling for the cancellation of large events, AFP reports.
As the number of cases in Germany pushed beyond 900, Health Minister Jens Spahn said gatherings of more than 1,000 people should be scrapped.As the number of cases in Germany pushed beyond 900, Health Minister Jens Spahn said gatherings of more than 1,000 people should be scrapped.
Acknowledging the financial hit to organisers of such events in Europe’s biggest economy, Spahn said the government would help cushion the blow.Acknowledging the financial hit to organisers of such events in Europe’s biggest economy, Spahn said the government would help cushion the blow.
Germany has over the last week scrapped several huge fairs, including Berlin’s travel fest ITB, industrial show Hannover Messe and the Leipzig book fair.Germany has over the last week scrapped several huge fairs, including Berlin’s travel fest ITB, industrial show Hannover Messe and the Leipzig book fair.
The coalition “is taking action in the corona-crisis. Besides medical protection measures, we have agreed on a big aid package for the German economy,” tweeted Markus Soeder, leader of Merkel’s Bavarian allies CSU, calling the package “comprehensive”.The coalition “is taking action in the corona-crisis. Besides medical protection measures, we have agreed on a big aid package for the German economy,” tweeted Markus Soeder, leader of Merkel’s Bavarian allies CSU, calling the package “comprehensive”.
Rules governing compensation for workers forced to cut working hours because of the crisis will be eased, said the government in a statement after late-night talks.Rules governing compensation for workers forced to cut working hours because of the crisis will be eased, said the government in a statement after late-night talks.
The relaxed criteria will apply from April and will be valid up to the end of the year.The relaxed criteria will apply from April and will be valid up to the end of the year.
Berlin also pledged to draw up proposals on offering liquidity support for companies hardest hit by the impact of the outbreak.Berlin also pledged to draw up proposals on offering liquidity support for companies hardest hit by the impact of the outbreak.
Talks with key representatives of the German economy as well as trade unions will be held shortly on the proposals.Talks with key representatives of the German economy as well as trade unions will be held shortly on the proposals.
Separately, the government said it will also boost investments by €3.1bn per year between 2021 and 2024.Separately, the government said it will also boost investments by €3.1bn per year between 2021 and 2024.
The total hike in investments totalling €12.4bn will be entirely funded by 2019’s budget surplus.The total hike in investments totalling €12.4bn will be entirely funded by 2019’s budget surplus.
After what has been an incredibly tense day of news, Australia’s teenagers are here to offer some relief. While New South Wales Health Minister Brad Hazzard warned students on Monday that Covid-19 was “no joke”, toilet paper panic buying remains fair game.After what has been an incredibly tense day of news, Australia’s teenagers are here to offer some relief. While New South Wales Health Minister Brad Hazzard warned students on Monday that Covid-19 was “no joke”, toilet paper panic buying remains fair game.
The somewhat counterintuitive response to the outbreak of the novel coronavirus has become a meme on social media, with young Australian TikTok users mocking those who are stripping supermarket shelves bare..The somewhat counterintuitive response to the outbreak of the novel coronavirus has become a meme on social media, with young Australian TikTok users mocking those who are stripping supermarket shelves bare..
The #ToiletPaperEmergency or the great #ToiletPaperApocalypse, as it was dubbed on Twitter, has inspired a wave of content on TikTok, the video app popular among teenagers and younger users.The #ToiletPaperEmergency or the great #ToiletPaperApocalypse, as it was dubbed on Twitter, has inspired a wave of content on TikTok, the video app popular among teenagers and younger users.
One TikTok vidoe, set to the theme music used in the You Wouldn’t Steal a Car anti-piracy campaign of the 2000s, received 33,000 likes and features a young man parodying the ad.One TikTok vidoe, set to the theme music used in the You Wouldn’t Steal a Car anti-piracy campaign of the 2000s, received 33,000 likes and features a young man parodying the ad.
Hannah Izzard reports.Hannah Izzard reports.
Down, down, down: Global markets are bracing for a crash when they open, after some Asian markets suffered their worst falls since the GFC.Down, down, down: Global markets are bracing for a crash when they open, after some Asian markets suffered their worst falls since the GFC.
The FTSE100 is projected to plunge by more than 7% when trading begins on Monday morning, while the Dow Jones industrial average is on course to lose 4.9% in New York.The FTSE100 is projected to plunge by more than 7% when trading begins on Monday morning, while the Dow Jones industrial average is on course to lose 4.9% in New York.
The price of Brent crude fell almost 30%, a drop not seen since the start of the first Gulf war, in 1991.The price of Brent crude fell almost 30%, a drop not seen since the start of the first Gulf war, in 1991.
The Australian Securities Exchange closed down 7.3%, representing around AU$140bn (US$9o) in losses, in the worst day of trading for Australian shares since the 2008 GFC.The Australian Securities Exchange closed down 7.3%, representing around AU$140bn (US$9o) in losses, in the worst day of trading for Australian shares since the 2008 GFC.
Three Sydney pupils tested positive for Covid-19. Two year 10 students at St Patrick’s Marist College, Dundas and a 12-year-old girl from Willoughby Girls Hugh school were the latest cases in the state.Three Sydney pupils tested positive for Covid-19. Two year 10 students at St Patrick’s Marist College, Dundas and a 12-year-old girl from Willoughby Girls Hugh school were the latest cases in the state.
The numbers of new deaths and infections continued to fall in China. China reported 22 new deaths, the lowest new cases on record. There were 40 new cases nationwide, with most in Hubei.The numbers of new deaths and infections continued to fall in China. China reported 22 new deaths, the lowest new cases on record. There were 40 new cases nationwide, with most in Hubei.
California is preparing to receive the Grand Princess cruise ship, on which there are 21 confirmed cases. Governor Gavin Newsom and the mayor of Oakland sought Sunday to reassure the public that none of the passengers from a ship carrying people with the virus will be released into the public before undergoing a 14-day quarantine.California is preparing to receive the Grand Princess cruise ship, on which there are 21 confirmed cases. Governor Gavin Newsom and the mayor of Oakland sought Sunday to reassure the public that none of the passengers from a ship carrying people with the virus will be released into the public before undergoing a 14-day quarantine.
Italy was plunged into chaos as fatalities increased more than 50% to 366 and the government plans to lockdown large parts of the country’s north, or about 25% of the population, were leaked to the media.Italy was plunged into chaos as fatalities increased more than 50% to 366 and the government plans to lockdown large parts of the country’s north, or about 25% of the population, were leaked to the media.
Saudi Arabia cordoned off the oil-rich, predominantly Shia region of Qatif, suspended air and sea travel to nine countries and closed schools and universities as the number of cases in the kingdom continued to increase.Saudi Arabia cordoned off the oil-rich, predominantly Shia region of Qatif, suspended air and sea travel to nine countries and closed schools and universities as the number of cases in the kingdom continued to increase.
Organisers of the Australian Grand prix said there was “no chance” the race would be called off despite rising concerns about the event’s large crowds facilitating the spread of the disease. The race is set to kick off the Formula One season in Melbourne on Sunday.Organisers of the Australian Grand prix said there was “no chance” the race would be called off despite rising concerns about the event’s large crowds facilitating the spread of the disease. The race is set to kick off the Formula One season in Melbourne on Sunday.