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Coronavirus live updates: US suspends all travel from Europe for 30 days Coronavirus live updates: US suspends all travel from Europe for 30 days, excluding UK
(32 minutes later)
Iran’s cases have increased to 9,000; US cases now stand at over 1,000; China reports record lows. Follow the latest. The move announced by President Trump follows WHO declaration of pandemic. Follow the latest.
A few reactions now as the world learns that Tom Hanks and his wife Rita Wilson have tested positive for coronavirus in Australia:
The Australian market has fallen further after US president Donald Trump announced the country would close its borders to Europe, excluding the UK.After dropping throughout the morning as the Australian government announced a stimulus package, the benchmark ASX200 index took an additional tumble at lunchtime on Thursday to be down about 3.9% for the day.
The news that Tom Hanks has tested positive for coronavirus in Australia now brings into focus where the actor and his wife, Rita Wilson, who has also tested positive have been spending their last few days.
Hanks’ most recent Tweet before the announcement that he had the virus today was on March 8th, from Bondi Beach in Sydney:
A little more on Tom Hanks confirming he and his wife Rita Wilson have tested positive for coronavirus in Australia:
Hanks posted a photograph from a Gold Coast hospital.Hanks and Wilson are in Australia filming Baz Luhrmann’s untitled Elvis Presley film.
Tom Hanks and his wife Rita Wilson have coronavirus. He wrote in a post on Instagram:
“Hello, folks. Rita and I are down here in Australia. We felt a bit tired, like we had colds, and some body aches. Rita had some chills that came and went. Slight fevers too. To play things right, as is needed in the world right now, we were tested for the Coronavirus, and were found to be positive.”
Asian stock markets fell sharply as Donald Trump addressed the US from the Oval office.The ASX200 in Sydney, which had edged back up after a rough start to the day, dropped around 1% to 2.5%. The Nikkei is Tokyo made a similar move to 2.54% down for the day.US futures dropped from -0.2% to -1.2%.
The travel ban from Europe also very bad news for European airlines. The Atlantic route is the most profitable in the world. Good news for British Airways though that UK exempted.
Just to recap the main point from that address by US President Donald Trump, he has introduced a total travel ban from Europe, excluding the UK, for 30 days.
US president Donald Trump: “Our future remains brighter than anyone can imagine. Acting with compassion and love we will heal the sick,” he says.US president Donald Trump: “Our future remains brighter than anyone can imagine. Acting with compassion and love we will heal the sick,” he says.
CNN says “In a generation we have not heard an announcement as serious as this from a US president.”CNN says “In a generation we have not heard an announcement as serious as this from a US president.”
Trump plans to have the Small Business Administration provide economic loans in affected states and territories for small businesses. Asking congress to increase funding for this programme by US$50bn.Trump plans to have the Small Business Administration provide economic loans in affected states and territories for small businesses. Asking congress to increase funding for this programme by US$50bn.
“I will never hesitate to take any of the necessary steps to protect the health safety and wellbeing of the American people,” Trump says of the European travel restrictions.“I will never hesitate to take any of the necessary steps to protect the health safety and wellbeing of the American people,” Trump says of the European travel restrictions.
“No nation is more prepared or resilient than the United States.”“No nation is more prepared or resilient than the United States.”
US President Donald Trump says, “If you are sick or not feeling well, stay home.US President Donald Trump says, “If you are sick or not feeling well, stay home.
To ensure that Americans will not suffer financial hardship he will soon be taking “unprecedented measures” for financial relief for workers who cannot work due to illness.To ensure that Americans will not suffer financial hardship he will soon be taking “unprecedented measures” for financial relief for workers who cannot work due to illness.
Donald Trump says Americans should avoid “non-essential travel to crowded areas”Donald Trump says Americans should avoid “non-essential travel to crowded areas”
Trump is addressing the nation from the Oval Office.Trump is addressing the nation from the Oval Office.
“Testing capabilities are expanding rapidly. Day by day we are moving very very quickly... the risk for ordinary Americans is very very low... the elderly population must be very very careful.”“Testing capabilities are expanding rapidly. Day by day we are moving very very quickly... the risk for ordinary Americans is very very low... the elderly population must be very very careful.”
US president Donald Trump says the travel restrictions will not apply to the United Kingdom.US president Donald Trump says the travel restrictions will not apply to the United Kingdom.
In the US, Donald Trump says, “To keep new cases from entering our shores we will be suspending all travel from Europe to the US for the next 30 days.”In the US, Donald Trump says, “To keep new cases from entering our shores we will be suspending all travel from Europe to the US for the next 30 days.”
There are currently 1276 cases in the US, according to Johns Hopkins UniversityThere are currently 1276 cases in the US, according to Johns Hopkins University
US President Donald Trump is speaking now from the Oval Office in Washington, as the country’s coronavirus cases near 1,300. He appears to be reading a prepared statement.US President Donald Trump is speaking now from the Oval Office in Washington, as the country’s coronavirus cases near 1,300. He appears to be reading a prepared statement.
“We will ultimately and expeditiously defeat this virus,” he says.“We will ultimately and expeditiously defeat this virus,” he says.
We getting the latest figures from China now, with Reuters reporting that there are 15 new infections in mainland China, eight of which are in Hubei. There have been 11 new deaths, ten of which were in Hubei.We getting the latest figures from China now, with Reuters reporting that there are 15 new infections in mainland China, eight of which are in Hubei. There have been 11 new deaths, ten of which were in Hubei.
China’s total number of cases is 80,793 as of the end of March 11.China’s total number of cases is 80,793 as of the end of March 11.
Donald Trump is expected to deliver a speech in fifteen minutes’ time, at 9pm EST.
He’ll be speaking from the Oval Office, as the US reckons with the spread of coronavirus and the White House grapples with the severity of the situation.
After days of downplaying the threat, Trump announced he would be delivering a prime-time address to the nation at 9pm ET on the federal response to what the World Health Organization has now declared a global pandemic.
Trump’s speech comes on a tumultuous day as cases in the US topped 1,000 and the number of deaths rose to 37, while fluctuations in the financial markets continued and Washington strained to respond. Testifying on Capitol Hill on Wednesday, Dr Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, warned that the outbreak in the US is going to get worse.
“I can say we will see more cases, and things will get worse than they are right now,” Fauci told the House Oversight and Reform Committee. He said it is “10 times more lethal than the seasonal flu”.
The University of Tasmania, in Australia, has warned staff and students that a woman who tested positive to coronavirus visited the library of their Sandy Bay campus on Monday, 9 March.
In a statement, vice-chancellor Professor Rufus Black said:
The Australian stock market has given the thumbs down to the Morrison government’s stimulus package.Shares, which were already down about 2% when Australian prime minister Scott Morrison and treasurer Josh Frydenberg began talking at around 10.35am, fell as the politicians spoke.Within 10.50am the benchmark ASX200 was down 3%. After some choppy trade, it was off by 2.9% at 11.30am.The package relies heavily on money for business, which gets around three quarters of the stimulus, and while there is cash for people on benefits the amount is less than that handed out by the Rudd government during the global financial crisis and there is nothing for workers without families.
There is another sea of red on stock market boards in Asia Pacific on Thursday morning.The Nikkei in Japan has dropped 2.3% and the Kospi in Seoul is off 1.2%. As we’ve seen already, the Australian market has fallen almost 3% despite the announcement of a federal government emergency stimulus package. Comparisons being made with the massive household giveaway by the Kevin Rudd government in 2009.
Focus will now be on what Trump has to say later today but another Fed rate cut, which everyone is already expecting, might not be enough as Eleanor Creagh from Saxa Capital Markets in Sydney suggests here:
The Pixies, currently touring in Australia, are postponing their remaining performances, the Guardian’s Steph Harmon reports:
Here is the mandatory #washyourlyrics, Pixies edition:
To wrap up that presser from Australian prime minister Scott Morrison, here is the country’s stimulus package at a glance. All figures are in AUD.
The package is worth $18bn in this financial year and $22bn over the 15 months it will run.
The instant asset threshold is increased from $30,000 to $150,000.
The Boosting Cash Flow for Employers measure will provide up to $25,000 back to small and medium-sized businesses, with a minimum payment of $2,000 for eligible businesses.
Eligible employers can apply for a wage subsidy of 50% of the apprentice’s or trainee’s wage for up to 9 months from 1 January 2020 to 30 September 2020.
Households that receive a government payment will receive a $750 from March 31.
A $1bn ‘Coronavirus fund’ will be established.
Back to Australia now, where Prime Minister Morrison is speaking with the treasurer, Josh Frydenberg, about the government’s stimulus package response to the economic impact of coronavirus on the country, which started the year with a significant blow from the bushfires:
Question: Will this starve off a recession? Is that the job?
Scott Morrison:
Moving away from the Australian news for a moment and over to football, where the Juventus defender Daniele Rugani has tested positive for coronavirus, the Serie A club said on Wednesday.
“The footballer, Daniele Rugani, has tested positive for coronavirus-Covid-19 and is currently asymptomatic,” Juve said in a statement. “Juventus Football Club is currently activating all the isolation procedures required by law, including those who have had contact with him.”
Rugani has made seven appearances for Juventus this season but was an unused substitute for Juventus on Sunday in their behind-closed-doors victory against Internazionale. Rugani was also seen training with the first team on Tuesday.
Here are the main measures involved in the Australian stimulus package response to the coronavirus from our story earlier today:
Australian businesses will receive an assistance package worth at least $8.7bn in response to the coronavirus outbreak, as the government seeks to urgently stimulate the economy and stave off a looming recession.
Cash payments for businesses, wage subsidies for apprentices and a massive expansion of the instant asset write-off aimed at encouraging the sale of cars, utes, tools and industrial equipment will form the centrepiece of the business boost that will kick in as early as Friday.
The business package, to be announced on Thursday, will also be accompanied by assistance for households, with direct cash payments for households to form part of the overall economic stimulus plan, expected to be worth more than $15bn.
A major focus of the business package, which aims to “keep business in business and Australians in jobs”, will be a tax-free cashflow boost for employers worth up to $25,000.
More on that AU$750 payment. In short, 6.5 million Australians will be getting a cheque for $750. Treasurer Josh Frydenberg says: