Italian stocks plunge 4% as coronavirus shuts down towns, schools and soccer matches

Italian stocks plunged at the start of trade Monday morning, as the euro zone’s third-largest economy grappled with the largest coronavirus outbreak outside of Asia. European markets screeched lower in early deals with the FTSE MIB index opening 987 points down at 23,776, or 3.9% lower. Italian radio reported that there had been a fourth death Monday morning. The regions make up around 30% of Italy’s economic output, while the majority of the quarantined towns are just south of the financial hub


Italian stocks plunged at the start of trade Monday morning, as the euro zone’s third-largest economy grappled with the largest coronavirus outbreak outside of Asia.
European markets screeched lower in early deals with the FTSE MIB index opening 987 points down at 23,776, or 3.9% lower.
Italian radio reported that there had been a fourth death Monday morning.
The regions make up around 30% of Italy’s economic output, while the majority of the quarantined towns are just south of the financial hub
Italian stocks plunge 4% as coronavirus shuts down towns, schools and soccer matches Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: holly ellyatt
Keywords: news, cnbc, companies, regions, cases, soccer, virus, reported, lower, coronavirus, plunge, measures, matches, stocks, schools, italian, shuts, including, towns, milan


Italian stocks plunge 4% as coronavirus shuts down towns, schools and soccer matches

Italian stocks plunged at the start of trade Monday morning, as the euro zone’s third-largest economy grappled with the largest coronavirus outbreak outside of Asia.

European markets screeched lower in early deals with the FTSE MIB index opening 987 points down at 23,776, or 3.9% lower. There are widespread concerns over the spread of the virus in northern Italy; the country now has 152 confirmed cases and three deaths due to the virus, with a sharp spike in cases over the weekend. Italian radio reported that there had been a fourth death Monday morning.

The government has placed around a dozen towns in the north under quarantine with the wealthy regions of Lombardy and Veneto — where the cities of Milan and Venice are located respectively — the focus of the rise in coronavirus cases. The regions make up around 30% of Italy’s economic output, while the majority of the quarantined towns are just south of the financial hub of Milan.

Schools, museums, universities and cinemas have been closed while other public events, including Serie A soccer matches, have been canceled. Milan’s opera house, La Scala, canceled performances and while Giorgio Armani’s fashion show went ahead as part of Milan Fashion Week, no buyers or media were present.

Venice’s world-famous Carnival, which attracts thousands of visitors every year, was due to end on Tuesday but was cut short on Sunday as the government introduced “urgent measures” to contain the virus, including restricting access in and out of affected areas. It’s reported that the measures are affecting around 50,000 inhabitants.


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: holly ellyatt
Keywords: news, cnbc, companies, regions, cases, soccer, virus, reported, lower, coronavirus, plunge, measures, matches, stocks, schools, italian, shuts, including, towns, milan


    • Forum
    • Topics
    • Posts
    • Last Post

Sony launches first 5G smartphone as it hopes to turn around struggling mobile business

Sony has unveiled its first 5G smartphone in a bid to prop up its struggling smartphone business. With the f flagship handset, Sony has leaned in to its heritage in camera and display technology. The device has a triple lens setup with the ability for users to adjust some of the settings found in professional cameras. The device has a 6.5-inch 4K high dynamic range (HDR) display. These features stem from Sony’s expertise in camera sensors, which it also sells to other smartphone manufacturers, a


Sony has unveiled its first 5G smartphone in a bid to prop up its struggling smartphone business.
With the f flagship handset, Sony has leaned in to its heritage in camera and display technology.
The device has a triple lens setup with the ability for users to adjust some of the settings found in professional cameras.
The device has a 6.5-inch 4K high dynamic range (HDR) display.
These features stem from Sony’s expertise in camera sensors, which it also sells to other smartphone manufacturers, a
Sony launches first 5G smartphone as it hopes to turn around struggling mobile business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: arjun kharpal
Keywords: news, cnbc, companies, sony, struggling, technology, hopes, white, business, display, mobile, smartphone, turn, device, users, hdr, launches, camera


Sony launches first 5G smartphone as it hopes to turn around struggling mobile business

Sony has unveiled its first 5G smartphone in a bid to prop up its struggling smartphone business.

With the f flagship handset, Sony has leaned in to its heritage in camera and display technology. The device has a triple lens setup with the ability for users to adjust some of the settings found in professional cameras.

The device has a 6.5-inch 4K high dynamic range (HDR) display. 4K refers to the resolution while HDR is a technology that helps make the contrast between black and white more distinct to make the image on the screen look more realistic.

These features stem from Sony’s expertise in camera sensors, which it also sells to other smartphone manufacturers, and its display technology.


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: arjun kharpal
Keywords: news, cnbc, companies, sony, struggling, technology, hopes, white, business, display, mobile, smartphone, turn, device, users, hdr, launches, camera


    • Forum
    • Topics
    • Posts
    • Last Post

Dow set to drop more than 350 points at the open as coronavirus cases outside China surge

Stock futures stateside pointed to sharp declines on Wall Street at the open on Monday as the number of coronavirus cases outside China surged. ET Sunday, Dow Jones Industrial Average futures were 387 points lower, pointing to an implied opening plunge of 380.41 points for the index on Monday. On Sunday, Seoul raised its coronavirus alert to the “highest level,” with the latest spike in numbers bringing the total infected to more than 750 — making South Korea the country with the most cases outs


Stock futures stateside pointed to sharp declines on Wall Street at the open on Monday as the number of coronavirus cases outside China surged.
ET Sunday, Dow Jones Industrial Average futures were 387 points lower, pointing to an implied opening plunge of 380.41 points for the index on Monday.
On Sunday, Seoul raised its coronavirus alert to the “highest level,” with the latest spike in numbers bringing the total infected to more than 750 — making South Korea the country with the most cases outs
Dow set to drop more than 350 points at the open as coronavirus cases outside China surge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: eustance huang
Keywords: news, cnbc, companies, set, surge, cases, reported, street, economic, coronavirus, dow, open, china, wall, futures, pain, drop, outside, points


Dow set to drop more than 350 points at the open as coronavirus cases outside China surge

Stock futures stateside pointed to sharp declines on Wall Street at the open on Monday as the number of coronavirus cases outside China surged.

As of 11:08 p.m. ET Sunday, Dow Jones Industrial Average futures were 387 points lower, pointing to an implied opening plunge of 380.41 points for the index on Monday. S&P 500 and Nasdaq futures also pointed to declines at Monday’s open.

The moves came as investors continue to watch developments surrounding the coronavirus outbreak that was first reported in China, but has spread rapidly in other countries especially South Korea and Italy, which reported a spike in the number of confirmed cases in recent days. On Sunday, Seoul raised its coronavirus alert to the “highest level,” with the latest spike in numbers bringing the total infected to more than 750 — making South Korea the country with the most cases outside mainland China.

Meanwhile, outside of Asia, Italy has been the worst affected country so far, with more than 130 reported cases and three deaths.

“I’ve now come to the view that equity markets, global equity markets, have to reprice to take into account or fully discount the dramatic economic impact that all of this is going to have,” Jonathan Pain, author of The Pain Report, told CNBC’s “Street Signs” on Monday morning in Asia. “I believe that repricing … has just started and I think it’s gonna be approximately 20 to 25% in the next month or so.”

“I don’t think there’s a letter in the alphabet which adequately describes the profile of the economic shock that … we’re beginning to see,” Pain said. “Of course there will be a recovery at some point in time, however, we don’t know when that point in time is.” In the earlier days following the outbreak, many economists had predicted a V-shaped recovery, which describes downturns that see a steep fall before recovering sharply.

Fears surrounding the economic impact of the spread of the coronavirus led stocks on Wall Street to sharp losses on Friday, with the Dow dropping more than than 200 points and seeing its first close below 29,000 since Feb. 4. The S&P 500 slipped 1.1% to 3,337.75 while the Nasdaq Composite declined by 1.8% to 9,576.59.

Friday’s losses sent the major averages lower on a weekly basis for the first time in three weeks.

— CNBC’s Fred Imbert contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: eustance huang
Keywords: news, cnbc, companies, set, surge, cases, reported, street, economic, coronavirus, dow, open, china, wall, futures, pain, drop, outside, points


    • Forum
    • Topics
    • Posts
    • Last Post

Malaysia’s Prime Minister Mahathir Mohamad submits resignation to the king

Malaysia’s Prime Minister Mahathir Mohamad has submitted his resignation to the king, according to the prime minister’s office. Mahathir was Malaysia’s prime minister from 1981 to 2003. He became prime minister again after winning the 2018 general elections against the coalition he once led, Barisan Nasional. Since taking power again in 2018, Mahathir has faced pressure from allies of Anwar Ibrahim — who is supposed to succeed Mahathir as prime minister — to step down. The two men patched up and


Malaysia’s Prime Minister Mahathir Mohamad has submitted his resignation to the king, according to the prime minister’s office.
Mahathir was Malaysia’s prime minister from 1981 to 2003.
He became prime minister again after winning the 2018 general elections against the coalition he once led, Barisan Nasional.
Since taking power again in 2018, Mahathir has faced pressure from allies of Anwar Ibrahim — who is supposed to succeed Mahathir as prime minister — to step down.
The two men patched up and
Malaysia’s Prime Minister Mahathir Mohamad submits resignation to the king Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: yen nee lee
Keywords: news, cnbc, companies, prime, minister, king, local, mahathirs, parti, malaysias, resignation, mohamad, party, pakatan, political, mahathir, submits


Malaysia's Prime Minister Mahathir Mohamad submits resignation to the king

Malaysia’s Prime Minister Mahathir Mohamad has submitted his resignation to the king, according to the prime minister’s office.

The resignation was submitted to the king at 1 p.m. local time on Monday, the statement by the prime minister’s office said. It’s unclear whether the Malaysian king will accept Mahathir’s resignation.

The political party that Mahathir belongs to, Parti Pribumi Bersatu Malaysia, also announced that it will withdraw from the Pakatan Harapan coalition that formed the ruling government, according to a statement by the party’s president, Muhyiddin Yassin.

Malaysia’s Minister of Economic Affairs Azmin Ali subsequently announced that he and 10 other members of parliament will leave Parti Keadilan Rakyat — the largest political party under Pakatan Harapan — and form an independent bloc in the house.

Following the news, the FTSE Bursa Malaysia KLCI Index extended its losses to nearly 3% in afternoon trade, while the U.S. dollar strengthened around 0.8% against the Malaysian ringgit.

The 94-year-old leader’s decision to resign followed a weekend filled with speculation that the ruling coalition he was leading, Pakatan Harapan, could lose power. Multiple local media, mostly citing unnamed sources, reported that Mahathir would shift allegiance by tying up with the opposition parties to form and lead a new government.

Mahathir was Malaysia’s prime minister from 1981 to 2003. He became prime minister again after winning the 2018 general elections against the coalition he once led, Barisan Nasional.

Since taking power again in 2018, Mahathir has faced pressure from allies of Anwar Ibrahim — who is supposed to succeed Mahathir as prime minister — to step down.

Anwar was Mahathir’s deputy in 1993 to 1998 before he was sacked, but the event launched Anwar’s career as an opposition political leader. The two men patched up and formed an alliance again to take down former Prime Minister Najib Razak in the 2018 elections.

Over the weekend, local media reported that Anwar said that he had been betrayed by Mahathir’s party and a faction within his own party, Parti Keadilan Rakyat.


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: yen nee lee
Keywords: news, cnbc, companies, prime, minister, king, local, mahathirs, parti, malaysias, resignation, mohamad, party, pakatan, political, mahathir, submits


    • Forum
    • Topics
    • Posts
    • Last Post

Europe stocks sink on fears coronavirus is spreading in Italy; Stoxx 600 down 2.5%; airlines tumble

European stocks were sharply lower Monday as investors focus on the continuing spread of the coronavirus and watch as Italy grapples with the largest outbreak outside of Asia. The pan-European Stoxx 600 plunged 2.5% in early trade, autos tumbling 4% to lead losses as all sectors slid sharply into the red. Coronavirus concerns continue to dominate headlines and in Europe, and there are widespread concerns over the spread of the virus in northern Italy. A third person infected with the coronavirus


European stocks were sharply lower Monday as investors focus on the continuing spread of the coronavirus and watch as Italy grapples with the largest outbreak outside of Asia.
The pan-European Stoxx 600 plunged 2.5% in early trade, autos tumbling 4% to lead losses as all sectors slid sharply into the red.
Coronavirus concerns continue to dominate headlines and in Europe, and there are widespread concerns over the spread of the virus in northern Italy.
A third person infected with the coronavirus
Europe stocks sink on fears coronavirus is spreading in Italy; Stoxx 600 down 2.5%; airlines tumble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: elliot smith holly ellyatt, elliot smith, holly ellyatt
Keywords: news, cnbc, companies, fears, cases, virus, italy, reported, sink, stoxx, coronavirus, airlines, europe, widespread, sharply, outbreak, tumble, spreading, spread, concerns, stocks


Europe stocks sink on fears coronavirus is spreading in Italy; Stoxx 600 down 2.5%; airlines tumble

European stocks were sharply lower Monday as investors focus on the continuing spread of the coronavirus and watch as Italy grapples with the largest outbreak outside of Asia.

The pan-European Stoxx 600 plunged 2.5% in early trade, autos tumbling 4% to lead losses as all sectors slid sharply into the red.

Coronavirus concerns continue to dominate headlines and in Europe, and there are widespread concerns over the spread of the virus in northern Italy. A third person infected with the coronavirus died in Italy on Sunday, a regional official said, and more than 130 cases have been reported there since Friday. The government has placed a dozen towns in the north under quarantine and closed down schools, museums and cinemas while other public events, including soccer matches, have been cancelled and the Venice Carnival cut short.

Iran and South Korea have also seen a sharp rise in cases of the virus. Meanwhile in China, the center of the epidemic, the National Health Commission reported an additional 150 deaths and 409 new confirmed cases as of Feb. 23.

U.S. Treasury Secretary Steven Mnuchin told CNBC Sunday that U.S. officials will have a better idea of how the coronavirus outbreak will impact the economy in “three or four weeks.”

In other news, in U.S. politics, Bernie Sanders scored a clear victory in the weekend’s Nevada caucuses making him a front-runner for the Democratic presidential nomination.

There are no major earnings on Monday and on the data front, Germany’s Ifo institute releases its closely-watched surveys of German business confidence and expectations for February.


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: elliot smith holly ellyatt, elliot smith, holly ellyatt
Keywords: news, cnbc, companies, fears, cases, virus, italy, reported, sink, stoxx, coronavirus, airlines, europe, widespread, sharply, outbreak, tumble, spreading, spread, concerns, stocks


    • Forum
    • Topics
    • Posts
    • Last Post

China’s Xi rallies people back to work as country continues to battle virus outbreak

Chinese President Xi Jinping, inspects the novel coronavirus prevention and control work in Beijing on Feb. 10, 2020. The Chinese leadership is rallying its people to get back to work even as the country continues to battle with the coronavirus outbreak, amid city-wide lockdowns and quarantines in the worst-hit regions. “This is both a crisis and a big test for us,” President Xi Jinping said at a Sunday meeting in Beijing, state news agency Xinhua reported. He said efforts were being made to cur


Chinese President Xi Jinping, inspects the novel coronavirus prevention and control work in Beijing on Feb. 10, 2020.
The Chinese leadership is rallying its people to get back to work even as the country continues to battle with the coronavirus outbreak, amid city-wide lockdowns and quarantines in the worst-hit regions.
“This is both a crisis and a big test for us,” President Xi Jinping said at a Sunday meeting in Beijing, state news agency Xinhua reported.
He said efforts were being made to cur
China’s Xi rallies people back to work as country continues to battle virus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: huileng tan
Keywords: news, cnbc, companies, virus, president, rallies, continues, battle, social, work, outbreak, stability, country, worlds, second, largest, chinas, supply


China's Xi rallies people back to work as country continues to battle virus outbreak

Chinese President Xi Jinping, inspects the novel coronavirus prevention and control work in Beijing on Feb. 10, 2020.

The Chinese leadership is rallying its people to get back to work even as the country continues to battle with the coronavirus outbreak, amid city-wide lockdowns and quarantines in the worst-hit regions.

“This is both a crisis and a big test for us,” President Xi Jinping said at a Sunday meeting in Beijing, state news agency Xinhua reported.

He said efforts were being made to cure people, reduce fatality rates, safeguard social stability, and strengthen China’s emergency medical supplies and daily necessities, according to Xinhua’s translations of his remarks.

Since end-January, the world’s second largest economy has shut down factories, businesses and schools in efforts to limit the spread of the disease, which has killed nearly 2,600 and infected more than 77,000 in the mainland so far.

The prolonged Lunar New Year holiday has had knock-on effects on the global supply chain and dented overall market sentiment. It has also spurred global companies to further diversify their supply chains away from China.

The epidemic’s impact on China’s economic and social development is temporary and generally manageable, but it will deal a relatively big blow in the short term, Xi said, according to Xinhua.

Even as the world’s second largest economy pulls out all stops to contain the outbreak, it is keen to revive its vast industry and economic machinery that has been running at breakneck pace for the last four decades, and contributed to social stability in the Communist nation.


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: huileng tan
Keywords: news, cnbc, companies, virus, president, rallies, continues, battle, social, work, outbreak, stability, country, worlds, second, largest, chinas, supply


    • Forum
    • Topics
    • Posts
    • Last Post

Coronavirus updates: North Korea quarantines 380 foreigners, death toll climbs past 2,500

4:05 pm: North Korea reportedly quarantines 380 foreigners in bid to prevent coronavirus outbreakNorth Korea has reportedly quarantined 380 foreigners as part of efforts to prevent the coronavirus outbreak. The World Health Organization (WHO) has previously said it has had no indication of COVID-19 having spread to North Korea. Out of 398 such cases reported for Sunday, 11 came from provinces other than Hubei, according to China’s National Health Commission. Many of the new cases reported in the


4:05 pm: North Korea reportedly quarantines 380 foreigners in bid to prevent coronavirus outbreakNorth Korea has reportedly quarantined 380 foreigners as part of efforts to prevent the coronavirus outbreak.
The World Health Organization (WHO) has previously said it has had no indication of COVID-19 having spread to North Korea.
Out of 398 such cases reported for Sunday, 11 came from provinces other than Hubei, according to China’s National Health Commission.
Many of the new cases reported in the
Coronavirus updates: North Korea quarantines 380 foreigners, death toll climbs past 2,500 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, cases, foreigners, reported, past, virus, korea, coronavirus, roy, province, economic, updates, death, climbs, toll, south, health, quarantines, north


Coronavirus updates: North Korea quarantines 380 foreigners, death toll climbs past 2,500

A Chinese man wears a protective mask as he walks by a propaganda banner on February 20, 2020 in Beijing, China. Kevin Frayer

This is a live blog. Please check back for updates. All times below are in Beijing time.

4:05 pm: North Korea reportedly quarantines 380 foreigners in bid to prevent coronavirus outbreak

North Korea has reportedly quarantined 380 foreigners as part of efforts to prevent the coronavirus outbreak. The majority of those quarantined are thought to be diplomats stationed in the capital city of Pyongyang, Yonhap news agency reported Monday, citing state media in North Korea. It was not immediately clear how long the quarantine period would last, while the nationalities of those in isolation have not yet been revealed. The World Health Organization (WHO) has previously said it has had no indication of COVID-19 having spread to North Korea. — Meredith

In this photo taken on February 6, 2020, a worker of the Songyo Knitwear Factory in Pyongyang produces masks for protection against the new coronavirus. KIM WON-JIN | AFP via Getty Images

3:27 pm: China’s largest industrial businesses resume work gradually

Work is picking up in China’s top three exporting provinces, according to the National Development and Reform Commission. For industrial enterprises greater than a certain scale, the resumption of work has topped 90% in Zhejiang province, and more than 70% in Guangdong and Jiangsu, officials said. That refers to enterprises with annual revenue of at least 20 million yuan ($2.86 million) from their primary business operations. Nationwide, coal mine production is around 76%, food processing at 70%, and railcar load has recovered to about 95% to pre-Lunar New Year holiday levels, the commission said. Iron and steel production is about 67% and that of nonferrous metals has resumed at a rate of around 86%. Some companies, especially medium and small businesses, have encountered great difficulties in their production and operations due to the impact of the virus, according to NDRC Party Secretary Cong Liang. He maintained that the virus’ effect on China’s economy is short-term. Due to these pressures on growth, Human Resources and Social Security Assistant Minister You Jun said the impact on employment is “not small,” and that agriculture workers and college graduates will face greater difficulties. — Cheng

1:25 pm: Six Chinese provinces lower coronavirus emergency response level

China’s largest province by exports, Guangdong, and the coal-producing province of Shanxi have lowered their emergency response level to two, while Gansu, Yunnan, Guizhou and Liaoning each lowered theirs to level three. The downgrade allows local authorities to respond to region-specific needs, and follows a decrease in newly confirmed cases outside Hubei province, the epicenter of the disease. Out of 398 such cases reported for Sunday, 11 came from provinces other than Hubei, according to China’s National Health Commission. The lowered response level follows greater emphasis from the central government on maintaining economic growth. Chinese President Xi Jinping said Sunday that the virus is “the most difficult to contain in the country since the founding of the People’s Republic of China” and “will inevitably deal a relatively big blow” to the country’s economy. He also said each region should adopt measures to resume work and production based on the local level of health risks, according to an English-language report from state news agency Xinhua. — Wu

12:36 pm: South Korean airlines sell off

Shares of Korean Air and Asiana Airlines fell more than 5% each following a spike in the number of confirmed cases in South Korea. As the total number of reported infections in the country jumped to more than 700, both airlines took steps to cancel flights to the city of Daegu, where many of the new cases have been detected. Asiana Airlines suspended flights between Daegu and Jeju until Mar. 9 (see 10:45 am update). Reuters reported that Korean Air also halted all flights to the city until Mar. 28. Low-cost carrier Air Busan sold off 3.89%. — Roy Choudhury

10:58 am: China reports 150 additional deaths

China’s National Health Commission reported an additional 150 deaths and 409 new confirmed cases as of Feb. 23. Of the 409 new cases, 398 came from Hubei province, whereas only 11 were reported in the rest of mainland China. That brought the nationwide tally of total infections to 77,150 confirmed cases and 2,592 deaths. The Hubei Provincial Health Committee reported 149 additional deaths in the province, including 131 in Wuhan, where the pneumonia-like virus was first detected. As of Feb. 23, Hubei province has reported a total of 64,287 confirmed cases, 2,495 deaths. The commission said 16,738 people have been discharged from the hospital. — Roy Choudhury

10:45 am: Asiana Airlines suspends flights between Daegu and Jeju

South Korea’s second-largest carrier, Asiana Airlines, said it was suspending domestic flights between Daegu and Jeju from Feb. 25 until Mar. 9. Many of the new cases reported in the country came from the city of Daegu. (see 9:24 am and 7 am updates) — Roy Choudhury

9:24 am: South Korea cases surpass 760, fatalities rise to seven

The Korea Centers for Disease Control and Prevention reported an additional 161 cases on Monday morning, bringing the total to 763 nationwide. Most of the new confirmed cases were reported in the city of Daegu. An additional two people were said to have died, which brought the death toll to seven. — Roy Choudhury

8:47 am: South Korea stocks fall more than 2%

The benchmark Kospi index was down more than 2% in early trade while the Kosdaq fell 2.25%. The sudden spike in cases (see 7 am update) spooked investors as experts weigh on the economic impact the disease could have on the country. “Economic difficulty is imminent,” Citi economists said in a Monday morning note. “Fear of the virus is spreading throughout the country, at a much faster rate than the virus itself.” Citi said it did not expect the economic fallout to be limited to certain regions and cities. “Consumption is declining as to minimize human contact, & stores & factories are shutting down for various reasons—exposure to virus; lack of supply inputs; or continuing loss.” — Roy Choudhury

8:15 am: President Xi says epidemic is a crisis and ‘big test’ for China

The coronavirus outbreak is a major public health emergency that has spread rapidly and become difficult to contain, President Xi Jinping said at a meeting in Beijing on Sunday, state media Xinhua reported. “This is both a crisis and a big test for us,” Xi said, per Xinhua’s translations of his remarks, adding that efforts are being made to cure people of the infection, reduce fatality rates, safeguard social stability, and strengthen China’s emergency medical supplies and daily necessities. The epidemic’s impact on China’s economic and social development is temporary and generally manageable, but it will deal a relatively big blow in the short term, Xi said, according to Xinhua. The president also stressed the importance of an orderly resumption of work and production. — Roy Choudhury

7:18 am: IMF chief says virus outbreak could put economic recovery at risk

The coronavirus outbreak that began in China and has since spread to more than 25 countries could put global economic recovery at risk, International Monetary Fund Managing Director Kristalina Georgieva said in a statement following a G-20 meeting of finance ministers and central bank governors in Saudi Arabia. “This is a human tragedy, but it also has negative economic impact,” Georgieva said. “I reported to the G20 that even in the case of rapid containment of the virus, growth in China and the rest of the world would be impacted. Of course, we all hope for a V-shaped, rapid recovery — but given the uncertainty, it would be prudent to prepare for more adverse scenarios.” — Roy Choudhury

7 am: South Korea on high alert, total cases top 600

South Korea’s government raised the COVID-19 alert to its highest level after a recent implosion of confirmed infection cases, which took the country’s tally from 31 as of Feb. 18 to 602 on Sunday. Many of the new cases were from the city of Daegu and were related to a homegrown religious group, Yonhap reported. At least five people have died from the virus, according to the Korea Centers for Disease Control and Prevention. By comparison, the Diamond Princess cruise that had been quarantined off the coast of Yokohama, Japan, since early February had at least 634 confirmed cases, according to the Japanese health ministry and the World Health Organization. Many countries have started evacuating their citizens from the ship and some people have tested positive after leaving the ship. — Roy Choudhury

A nurse working in the isolation ward communicates with a co-worker on the talkie-walkie in Jinyintan Hospital, designated for COVID-19 patients, in Wuhan in central China’s Hubei province Monday, Feb. 17, 2020. Feature China | Barcroft Media via Getty Images

All times below are in Eastern time.

4:18 pm: Israel may quarantine 200 South Korean visitors

Israel may quarantine some 200 visitors from South Korea at a military base in a Jewish settlement on the occupied West Bank over coronavirus fears, according to Israel’s Ynet news site. Israeli Interior Minister Aryeh Deri said separately he had ordered South Korea and Japan to be added to a list of Asian countries to which travel to and from Israel was being barred. — Lovelace Jr.

3:48 pm: Austria halts train traffic with Italy

Austria has halted train traffic with its southern neighbor amid concern that two passengers on an in-bound train from Italy were infected with the coronavirus. Italy is grappling with the largest coronavirus outbreak outside of Asia, with more than 130 reported cases and three deaths. — Lovelace Jr.

1:08 pm: Four passengers test positive for coronavirus in England


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, cases, foreigners, reported, past, virus, korea, coronavirus, roy, province, economic, updates, death, climbs, toll, south, health, quarantines, north


    • Forum
    • Topics
    • Posts
    • Last Post

North Korea reportedly quarantines 380 foreigners in bid to prevent coronavirus outbreak

North Korea has reportedly quarantined 380 foreigners as part of efforts to prevent the coronavirus outbreak. The majority of those quarantined are thought to be diplomats stationed in the capital city of Pyongyang, Yonhap news agency reported Monday, citing state media in North Korea. The World Health Organization (WHO) has previously said it has had no indication of COVID-19 having spread to North Korea. On Monday, China’s National Health Commission reported an additional 409 cases of the coro


North Korea has reportedly quarantined 380 foreigners as part of efforts to prevent the coronavirus outbreak.
The majority of those quarantined are thought to be diplomats stationed in the capital city of Pyongyang, Yonhap news agency reported Monday, citing state media in North Korea.
The World Health Organization (WHO) has previously said it has had no indication of COVID-19 having spread to North Korea.
On Monday, China’s National Health Commission reported an additional 409 cases of the coro
North Korea reportedly quarantines 380 foreigners in bid to prevent coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: sam meredith
Keywords: news, cnbc, companies, prevent, cases, foreigners, reported, virus, korea, coronavirus, 380, deaths, reportedly, outbreak, number, health, confirmed, quarantines, bid, north


North Korea reportedly quarantines 380 foreigners in bid to prevent coronavirus outbreak

In this photo taken on February 6, 2020, a worker of the Songyo Knitwear Factory in Pyongyang produces masks for protection against the new coronavirus.

North Korea has reportedly quarantined 380 foreigners as part of efforts to prevent the coronavirus outbreak.

The majority of those quarantined are thought to be diplomats stationed in the capital city of Pyongyang, Yonhap news agency reported Monday, citing state media in North Korea.

It was not immediately clear how long the quarantine period would last, while the nationalities of those in isolation have not yet been revealed.

The World Health Organization (WHO) has previously said it has had no indication of COVID-19 having spread to North Korea.

The virus, which first emerged in China late last year, has since spread to more than two dozen countries. The WHO has declared the outbreak a global health emergency.

On Monday, China’s National Health Commission reported an additional 409 cases of the coronavirus, with 150 deaths. That brings the total number of confirmed infections to 77,150, with 2,592 deaths nationwide.

South Korea, which has reported the highest number of cases outside China, has confirmed more than 763 cases of the coronavirus nationwide, with a total of seven deaths. The country is separated from North Korea by the so-called demilitarized zone (DMZ), which is approximately 154 miles long and 2.5 miles wide.

Italy has reported the highest number of cases in Europe, with more than 150 confirmed infections of the deadly flu-like virus.


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: sam meredith
Keywords: news, cnbc, companies, prevent, cases, foreigners, reported, virus, korea, coronavirus, 380, deaths, reportedly, outbreak, number, health, confirmed, quarantines, bid, north


    • Forum
    • Topics
    • Posts
    • Last Post

Warren Buffett: I’ve been a net buyer of stocks every year since I was 11

Warren Buffett: I’ve been a net buyer of stocks every year since I was 11Berkshire Hathaway’s chairman and CEO Warren Buffett told CNBC’s Becky Quick on Monday that he’s been a net-buyer of stocks every year since he was 11 years-old.


Warren Buffett: I’ve been a net buyer of stocks every year since I was 11Berkshire Hathaway’s chairman and CEO Warren Buffett told CNBC’s Becky Quick on Monday that he’s been a net-buyer of stocks every year since he was 11 years-old.
Warren Buffett: I’ve been a net buyer of stocks every year since I was 11 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24
Keywords: news, cnbc, companies, netbuyer, told, net, quick, buffett, hes, ive, stocks, warren, yearsold, buyer


Warren Buffett: I've been a net buyer of stocks every year since I was 11

Warren Buffett: I’ve been a net buyer of stocks every year since I was 11

Berkshire Hathaway’s chairman and CEO Warren Buffett told CNBC’s Becky Quick on Monday that he’s been a net-buyer of stocks every year since he was 11 years-old.


Company: cnbc, Activity: cnbc, Date: 2020-02-24
Keywords: news, cnbc, companies, netbuyer, told, net, quick, buffett, hes, ive, stocks, warren, yearsold, buyer


    • Forum
    • Topics
    • Posts
    • Last Post

China’s recent air pollution levels may be telling a story about the coronavirus impact on its economy

Zhang Peng | ContributorAll eyes are on China’s progress in getting its factories to crank up again, after the country extended this year’s Lunar New Year holiday and shut down major growth regions in a bid to contain the coronavirus outbreak. Many of its provinces started gradually limping back to some form of production last week, about two weeks later than previous years. But here’s how some economists and analysts are tracking the story of China’s progress in returning to work — as the world


Zhang Peng | ContributorAll eyes are on China’s progress in getting its factories to crank up again, after the country extended this year’s Lunar New Year holiday and shut down major growth regions in a bid to contain the coronavirus outbreak.
Many of its provinces started gradually limping back to some form of production last week, about two weeks later than previous years.
But here’s how some economists and analysts are tracking the story of China’s progress in returning to work — as the world
China’s recent air pollution levels may be telling a story about the coronavirus impact on its economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: weizhen tan
Keywords: news, cnbc, companies, note, major, traffic, recent, economy, coronavirus, week, industrial, work, telling, levels, air, progress, impact, pollution, chinas


China's recent air pollution levels may be telling a story about the coronavirus impact on its economy

Office buildings amid the heavy haze at Beijing’s business district, in a photo from 2017. Zhang Peng | Contributor

All eyes are on China’s progress in getting its factories to crank up again, after the country extended this year’s Lunar New Year holiday and shut down major growth regions in a bid to contain the coronavirus outbreak. Many of its provinces started gradually limping back to some form of production last week, about two weeks later than previous years. The Chinese government has also been giving regular updates, reporting last Wednesday that work resumption rate has topped 50% for some industrial companies in key economic regions such as Guangdong and Shanghai. Chinese state media also reported Tuesday that more than 80% of its central state-owned companies’ roughly 20,000 manufacturing subsidiaries have resumed work. But here’s how some economists and analysts are tracking the story of China’s progress in returning to work — as the world’s second largest economy gears up to return to full production.

Air pollution levels, coal consumption

Analysts are using pollution levels as a gauge of industrial activity. Major cities in China are well known for being choked by smog, due to the extensive burning of coal by factories. So far this year, pollution levels have been between 20% and 25% lower compared to the same period last year, Tapas Strickland of National Australia Bank (NAB) said in a note earlier last week, suggesting there was a substantial decline in industrial activity in the first quarter. Referring to the official update that more than 80% of China’s 20,000 manufacturing subsidies have resumed work, Rodrigo Catril, senior foreign exchange strategist at NAB, cast doubt on the actual progress. “This news should have been embraced warmly by the market, however high frequency data such as pollution levels and traffic congestion gauges in Beijing do not at this stage corroborate the upbeat official message, keeping investors wary,” he said in a note Wednesday. On Feb. 20 (Thursday), daily coal consumption of six major power plants was 42.5% less than the same time last year, according to Nomura, which has been tracking such metrics daily. The Japanese bank has also been following data on traffic congestion, passenger flows and new home sales in a bid to track the progress of China’s work resumption.

“The pace was slow due to a lack of workers and strict reopening criteria, and it varied across cities, industries, and firms,” J.P. Morgan’s Sin Beng Ong wrote in a note last week. “The weak resumption of production is reinforced by a set of high-frequency indicators in the areas of energy consumption, real estate transactions, passenger traffic, and air quality,” he said.

Passenger migration across China


Company: cnbc, Activity: cnbc, Date: 2020-02-24  Authors: weizhen tan
Keywords: news, cnbc, companies, note, major, traffic, recent, economy, coronavirus, week, industrial, work, telling, levels, air, progress, impact, pollution, chinas


    • Forum
    • Topics
    • Posts
    • Last Post