Coronavirus live updates: US confirms 14 new cases, repatriates passengers aboard cruise ship

4:10 pm: US confirms 14 cases of coronavirus from passengers on board Diamond Princess cruise shipThe U.S. facilitated the voluntary repatriation of over 300 U.S. citizens and their immediate family members who had been passengers on the Diamond Princess cruise ship, the State Department said in a statement on Monday. Morrison added that seats on the plane will also be allocated for New Zealand citizens who are on the cruise ship. 11:30 am: Passengers of cruise ship docked in Cambodia to be trac


4:10 pm: US confirms 14 cases of coronavirus from passengers on board Diamond Princess cruise shipThe U.S. facilitated the voluntary repatriation of over 300 U.S. citizens and their immediate family members who had been passengers on the Diamond Princess cruise ship, the State Department said in a statement on Monday.
Morrison added that seats on the plane will also be allocated for New Zealand citizens who are on the cruise ship.
11:30 am: Passengers of cruise ship docked in Cambodia to be trac
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Coronavirus live updates: US confirms 14 new cases, repatriates passengers aboard cruise ship

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

4:10 pm: US confirms 14 cases of coronavirus from passengers on board Diamond Princess cruise ship

The U.S. facilitated the voluntary repatriation of over 300 U.S. citizens and their immediate family members who had been passengers on the Diamond Princess cruise ship, the State Department said in a statement on Monday. During the evacuation process and once the passengers had disembarked the ship, which is currently quarantined in Japan’s port of Yokohama, U.S. officials said they received notice that 14 passengers had tested positive for coronavirus. After consultation with U.S. Department of Health and Human Services, the State Department made the decision to allow these 14 individuals, “who were in isolation, separated from other passengers and continued to be asymptomatic, to remain on the aircraft to complete the evacuation process.” The flights, which departed Japan at approximately 4:30 p.m. Eastern time on Sunday, landed in the U.S. Monday morning. All passengers will now remain under quarantine for 14 days. “Passengers that develop symptoms in flight and those with positive test results will remain isolated on the flights and will be transported to an appropriate location for continued isolation and care,” the statement said.

US passengers embark in a plane at the Haneda Airport, in Tokyo on February 17, 2020 after disembarking in Yokohama from the Diamond Princess cruise ship, where people are quarantined on board due to fears of the new COVID-19 coronavirus. KAZUHIRO NOGI | AFP via Getty Images

4:00 pm: China to consider a plan for delaying key economic meeting

The standing committee for China’s top legislative body will meet next Monday, Feb. 24, and consider a draft proposal for postponing the third session of the 13th National People’s Congress, according to state news agency Xinhua. The congressional meeting, expected to begin March 5, is a key annual event in Beijing at which China releases its economic targets for the year, including GDP. Since a new pneumonia-likevirus began spreading in the last several weeks, Chinese authorities have discouraged locals from traveling and gathering together. The Beijing municipal government announced Friday that any new visitors to the city must quarantine themselves for 14 days after arrival. — Evelyn Cheng.

2:50 pm: Australia to evacuate more than 200 citizens from Diamond Princess cruise ship

Australian Prime Minister Scott Morrison said Monday that more than 200 citizens on board the quarantined Diamond Princess cruise ship will be evacuated, according to Reuters. More than 350 passengers on board the ship, currently off the coast of Japan, have tested positive for the virus. That includes 24 Australians, the report said. Morrison added that seats on the plane will also be allocated for New Zealand citizens who are on the cruise ship.

1:35 pm: Malaysia bars entry of MS Westerdam cruise passengers after American tests positive for virus

Malaysia has barred the entry of remaining passengers from a cruise ship docked in Cambodia — after an American passenger tested positive for the new coronavirus upon her arrival in Kuala Lumpur. The cruise — which carried 1,455 guests and 802 crew — departed Hong Kong on Feb. 1. The ship arrived in Cambodia last Thursday after being turned away by several countries including Japan, the Philippines, and Thailand, which were afraid passengers on board might be infected. Following the confirmation of the infected American, the ship operator is now tracking the other passengers who have departed the ship. (see 11:30 a.m. update) — Lee

12:50 pm: 78% of companies face labor crunch due to shutdown, Amcham survey finds

Nearly half the companies polled by the American Chamber of Commerce in Shanghai report their global operations have suffered from the shutdown in China, a survey of 109 manufacturers in Shanghai, Suzhou, Nanjing and the Greater Yangtze River Delta region has found. 78% of those companies say they don’t have sufficient manpower for full production, while 30% said logistical challenges will be their biggest concern, according to the survey, which was released on Monday.

11:30 am: Passengers of cruise ship docked in Cambodia to be tracked after one tests positive

Excited passengers disembark from the MS Westerdam. The cruise ship arrived in Cambodia on February 14, 2020 after being stranded for two weeks. Paula Bronstein | Getty Images

All passengers who have already disembarked from a cruise ship docked in Cambodia are now being tracked, after an American passenger tested positive, according to a Reuters report. Holland America Line said it is working with governments and health authorities to track the other 1,454 passengers, who had been given the go-ahead to travel by Cambodian authorities after health checks were done. Many have left the country as of Sunday, the report said. The ship has 802 crew. The MS Westerdam had spent almost two weeks at sea after being rejected by five countries on fears that its passengers could be infected, before being accepted by Cambodia.

10:35 am: More support to boost businesses hit by outbreak

China’s central bank cut rates on its medium-term loans on Monday, in a bid to support businesses which are reeling from the disruption to activity. That followed several moves in the past few weeks to support businesses. On Friday, China said it will tolerate more bad loans, and also said it has supplied more than $76.9 billion in credit.

10:00 am: More food companies offer ‘contactless’ delivery in China

McDonald’s, Starbucks and other fast food companies in China are increasing their “contactless” delivery and pickup services as the outbreak continues, according to a Reuters report. Customers can opt to order online, and their orders will be placed in a location for pickup — without human contact, according to the report.

8:50 am: China reports 105 additional deaths

China’s National Health Commission reported there were 105 additional deaths and 2,048 new confirmed cases as of Feb. 16. That brings the country’s overall total to 70,548 confirmed cases, and 1,770 deaths, according to authorities.

8:10 am: Singapore downgrades GDP due to virus, likely to spend big in annual budget

Singapore, one of the worst-hit from the outbreak with among the highest number of cases outside of China at 75, downgraded its growth forecast on Monday. To cushion the economic blows from the virus outbreak, economists said the Singapore government will likely register one of its largest fiscal deficits on record this year — with estimates ranging from 7 billion Singapore dollars ($5.04 billion) to 8 billion Singapore dollars. — Lee

7:30 am: Hubei reports 100 more deaths and 1,933 new cases

China’s Hubei province said it has confirmed 1,933 new coronavirus cases and 100 more deaths as of Feb. 16. It said that the virus has infected 58,182 people in the province and killed 1,696 people in the region alone. Hubei is the center of the outbreak and where the majority of cases and deaths are located. —Wang

Chinese customers wear protective masks as they line up single file to buy dumplings at a popular local shop on February 16, 2020 in Beijing, China. Kevin Frayer | Getty Images

All times below are in Eastern time.

11:30 am: American citizens begin evacuating quarantined cruise ship in Japan

American passengers quarantined on the Diamond Princess cruise ship in Japan began evacuating on Sunday. Officials said they would be taken on a charter flight to one of two U.S. military air bases, where they will undergo a 14-day quarantine. Passengers will be screened for symptoms prior to boarding. Americans that decide to not return on the charter flight will be unable to travel to the U.S. until March 4, according to the American Embassy in Tokyo. Japanese officials said the quarantine aboard the ship should end on Feb. 19. There were 355 cases of the virus confirmed as of Sunday, with roughly 3,700 total passengers and crew on board. —Newburger

10:50 am: China pharmaceutical company to sell Favipiravir drug as potential virus treatment

Zhejiang Hisun Pharmaceutical, one of the largest pharmaceutical manufacturers in China, has received approval to start selling Favipiravir as a potential treatment for the virus, according to a company filing. The company must still continue clinical trials of the antiviral drug, which is being developed by Toyama Chemical of Japan, after it hits the market. —Newburger

6:21 am: Taiwan confirms death of man with no known history of travel to China


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Coronavirus could impact 5 million companies worldwide, new research shows

Noel Celis | AFP | Getty ImagesThe new coronavirus outbreak and subsequent shutdown of huge swathes of China could impact more than 5 million businesses worldwide, according to a new study. A special briefing issued by global business research firm Dun & Bradstreet analyzed the Chinese provinces most impacted by the virus, and found they are intricately linked to the global business network. The impact on businesses in China and around the world is already dragging down economic growth forecasts


Noel Celis | AFP | Getty ImagesThe new coronavirus outbreak and subsequent shutdown of huge swathes of China could impact more than 5 million businesses worldwide, according to a new study.
A special briefing issued by global business research firm Dun & Bradstreet analyzed the Chinese provinces most impacted by the virus, and found they are intricately linked to the global business network.
The impact on businesses in China and around the world is already dragging down economic growth forecasts
Coronavirus could impact 5 million companies worldwide, new research shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: elliot smith
Keywords: news, cnbc, companies, economic, shows, china, million, businesses, coronavirus, companies, impacted, research, according, global, virus, impact, worldwide


Coronavirus could impact 5 million companies worldwide, new research shows

People wearing protective face masks queue to order food from a stall in Shanghai on February 14, 2020. Noel Celis | AFP | Getty Images

The new coronavirus outbreak and subsequent shutdown of huge swathes of China could impact more than 5 million businesses worldwide, according to a new study. A special briefing issued by global business research firm Dun & Bradstreet analyzed the Chinese provinces most impacted by the virus, and found they are intricately linked to the global business network. The affected areas with 100 or more confirmed cases as of February 5 are home to more than 90% of all active businesses in China, according to the report, and around 49,000 businesses in these regions are branches and subsidiaries of foreign companies. Almost half (49%) of the companies with subsidiaries in impacted regions are headquartered in Hong Kong, while the U.S. accounts for 19%, Japan 12% and Germany 5%. As of Monday, over 70,000 cases of the virus have been confirmed in China, resulting in 1,770 deaths, according to the Chinese National Health Commission.

Dun & Bradstreet researchers found that at least 51,000 companies worldwide, 163 of which are in the Fortune 1000, have one or more direct or “tier 1” suppliers in the impacted region, while at least 5 million — and 938 in the Fortune 1000 — have one or more “tier 2” suppliers. The impact on businesses in China and around the world is already dragging down economic growth forecasts for the year. In a research note published Monday, Moody’s revised down its global growth forecasts by two-tenths of a percentage point, expecting G-20 economies to collectively grow at an annual rate of 2.4% in 2020 with China slipping to 5.2%. This assumes a baseline forecast that the spread of the virus is contained by the end of the first quarter, restoring “normal economic activity” in the second quarter. However, the global economic toll would be “severe” if the rate of infection and rising death toll do not abate, with international supply chain disruptions amplifying the shock. “There is already evidence albeit anecdotal – that supply chains are being disrupted, including outside China. Furthermore, extended lockdowns in China would have a global impact given the country’s importance and interconnectedness in the global economy,” Moody’s Vice President Madhavi Bokil said in the research note.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: elliot smith
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This growth fund returned nearly 43% last year. Here’s what it’s betting on now

The DF Dent Premier Growth fund racked up a 42.9% return in 2019, according to Morningstar. This was 11 percentage points higher than the average of large cap growth funds surveyed by Morningstar. For more on how the managers pick stocks for the fund, read here. It typically has between 50% and 75% of its holdings in large cap stocks, according to securities filings. Its holdings, current as of Dec. 31, reveal a mix of large cap financial and payments stocks and overweight bets on smaller compan


The DF Dent Premier Growth fund racked up a 42.9% return in 2019, according to Morningstar.
This was 11 percentage points higher than the average of large cap growth funds surveyed by Morningstar.
For more on how the managers pick stocks for the fund, read here.
It typically has between 50% and 75% of its holdings in large cap stocks, according to securities filings.
Its holdings, current as of Dec. 31, reveal a mix of large cap financial and payments stocks and overweight bets on smaller compan
This growth fund returned nearly 43% last year. Here’s what it’s betting on now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: jesse pound
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This growth fund returned nearly 43% last year. Here's what it's betting on now

(This story is for CNBC Pro subscribers only.)

The DF Dent Premier Growth fund racked up a 42.9% return in 2019, according to Morningstar. This was 11 percentage points higher than the average of large cap growth funds surveyed by Morningstar.

For more on how the managers pick stocks for the fund, read here.

The fund, which has roughly $250 million in assets under management, has averaged an annualized return of more than 15% over the past decade. It typically has between 50% and 75% of its holdings in large cap stocks, according to securities filings.

Its holdings, current as of Dec. 31, reveal a mix of large cap financial and payments stocks and overweight bets on smaller companies.


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: jesse pound
Keywords: news, cnbc, companies, nearly, growth, typically, returned, large, fund, betting, according, holdings, heres, cap, surveyed, stocks, return


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Coronavirus live updates: State Department set to evacuate Americans from cruise ship, China slams global ‘overreaction’

Those symptomatic passengers unable to board the flight will “receive the required care in Japan,” the State Department said. It said that situation will be manageable as China has a relatively low bad loan ratio, the report said. On Friday, China said that 1,716 health workers in the country have been infected with the COVID-19 virus. Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told reporters during a press briefing that there are curre


Those symptomatic passengers unable to board the flight will “receive the required care in Japan,” the State Department said.
It said that situation will be manageable as China has a relatively low bad loan ratio, the report said.
On Friday, China said that 1,716 health workers in the country have been infected with the COVID-19 virus.
Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told reporters during a press briefing that there are curre
Coronavirus live updates: State Department set to evacuate Americans from cruise ship, China slams global ‘overreaction’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: weizhen tan evelyn cheng natasha turak, weizhen tan, evelyn cheng, natasha turak
Keywords: news, cnbc, companies, global, outbreak, evacuate, report, control, ship, overreaction, department, slams, conference, state, health, live, travel, set, china, updates, according, billion, workers


Coronavirus live updates: State Department set to evacuate Americans from cruise ship, China slams global 'overreaction'

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

4:30 pm: U.S. State Department will evacuate all Americans from Diamond Princess cruise ship quarantined in Japan

The State Department will provide a chartered aircraft to fly American citizens aboard the quarantined Diamond Princess cruise directly from Japan to the U.S., it said in a statement Saturday. The aircraft is set to arrive in Japan on the evening of Feb. 16, and will land in the U.S. at Travis Air Force Base in California. Some passengers will then continue onward to Lackland Air Force Base in Texas. All passengers will need to be quarantined in the U.S. for a further 14 days. Those symptomatic passengers unable to board the flight will “receive the required care in Japan,” the State Department said.

2:50 pm: China rail refunded $4.5 billion in tickets —officials

Chinese officials disclosed Saturday that travel during the latest Lunar New Year period was a fraction of previous years, as people stayed home and took advantage of refund policies that authorities enacted in an effort to limit the spread of the virus. China’s aviation authority said since it first announced a ticket refund policy in late January, domestic and foreign airlines have processed 20 million tickets worth more than 20 billion yuan ($2.9 billion). The number of flights has been about a quarter of what it was last year, a representative said. China’s railway authority said rail trips during the holiday travel period so far have been one-seventh of the 280 million it had anticipated, and that it has processed 11.5 billion yuan ($1.6 billion) in ticket refunds.

2:10 pm: China says it will tolerate more bad loans

China’s central bank says lenders will accept higher levels of bad loans in a bid to support firms affected by the virus outbreak, according to a Reuters report. It said that situation will be manageable as China has a relatively low bad loan ratio, the report said. He added that the problem will be manageable as China has a relatively low bad loan ratio.

12:55 pm: China bans insurers from offering virus-specific products

China’s deputy chair of the banking and insurance regulator, Liang Tao, said Saturday at a press conference that there are already more than 400 insurance products that can cover risks related to the new coronavirus pneumonia. “Due to the lack of pricing data, and for the protection against violation of consumer rights, the China Banking and Insurance Regulatory Commission prohibits companies from issuing such single-liability products,” Liang said, according to a CNBC translation of his Mandarin-language remarks.

12:30 pm: 25,633 medical workers sent to Hubei so far

A total of 217 medical teams comprised of 25,633 healthcare workers have been sent to the virus-hit Hubei province as of Feb. 14, according to state-owned media People’s Daily citing China’s National Health Commission. The majority of them are in Wuhan. On Friday, China said that 1,716 health workers in the country have been infected with the COVID-19 virus.

11:15 am: Trump trade advisor Navarro says drug production could start as soon as this month

White House trade advisor Peter Navarro told Fox Business Network on Friday night Eastern time that testing and production of a coronavirus drug could start as soon as late February. He said on the show that the White House is “moving at Trump time” on a treatment drug and are hopeful testing and production could begin “as early as the end of the month, mid-March.” Navarro told Fox Business Network a vaccine could be “hopefully as early as next November,” adding that five large American companies are working to get 150 million doses of a vaccine ready.

10:40 am: US evacuating citizens aboard quarantined cruise ship off Japan

The U.S. is evacuating its citizens and their families who are onboard the Diamond Princess cruise ship off Japan that has been quarantined for almost two weeks, according to the Wall Street Journal, which cited an official from the U.S. Centers for Disease Control and Prevention. There will be two evacuation flights from Japan for around 380 people, the report said. At least 218 passengers on the Diamond Princess were confirmed to be infected.

10:25 am: Support for companies to fight outbreak in China

As of noon on Friday, banks and financial institutions have supplied more than 537 billion yuan ($76.9 billion) in credit to fight the virus, Liang Tao, deputy head of the China Banking and Insurance Regulatory Commission, said Saturday morning at a press conference in Beijing.

9:30 am: China’s foreign minister slams global ‘overreaction’ to virus

China’s State Councillor and Foreign Minister Wang Yi said China’s efforts to control the epidemic have been comprehensive and that it’s “under control,” while slamming the “overreaction” of other countries, according to a Reuters report. In an interview with Reuters in Berlin, he said: “The epidemic overall is under control.” “”We’ve taken such complete prevention and control efforts, efforts that are so comprehensive, that I can’t see any other country that can do this,” Wang said, adding that they would find it very difficult, according to Reuters. “But China has been able to do this.” The U.S. should not take unnecessary measures that will affect tourism and trade, he said, according to Reuters. The U.S. was among several countries who placed travel curbs on Chinese citizens, or travelers who have been to mainland China.

8:50 am: IBM withdraws from RSA conference in San Francisco

IBM says it’s no longer participating in a major conference — the RSA cyber security conference — in San Francisco in February over virus fears, it said in a tweet. The conference is scheduled for Feb. 24 to Feb. 28. Earlier, Facebook announced it has called off its global marketing summit set for next month also in San Francisco, for the same reason, according to a Reuters report. Another major event, Mobile World Congress (MWC), the world’s largest trade show for the mobile phone industry, was canceled this week over those fears. That decision came after many companies pulled out of the conference, such as LG, Sony, Ericsson, Nokia, Nvidia, Intel and Amazon.

8:05 am: China confirms 143 more deaths, 2,641 new cases

China’s National Health Commission reported an additional 143 deaths nationwide, as well as 2,641 new confirmed cases as of Feb. 14. That tally includes Hubei, the epicenter of the outbreak, where 2,420 new cases were reported, and 139 more deaths. That brings the total number of confirmed cases in the country to 66,492, and number of total deaths at 1,523, the authority said. All times below are in Eastern time.

3:03 pm: US health officials will check patients with flu-like symptoms for coronavirus

U.S. health officials will monitor people with flu-like symptoms for the coronavirus in five cities, the Centers for Disease Control and Prevention said Friday. The five labs are in Los Angeles, San Francisco, Seattle, Chicago and New York City, but the agency hopes to expand the monitoring nationwide. — Feuer

1:21 pm: CDC concerned with report of infected health workers in China

A U.S. Centers for Disease Control and Prevention official said the notice from China’s National Health Commission about 1,716 health workers infected with the coronavirus was “concerning.” Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told reporters during a press briefing that there are currently no U.S. health workers infected with the virus. She also reiterated the possibility of community spread in the United States. — Lovelace

12:11 pm: Chinese official to travel to Germany to discuss outbreak

Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the deadly outbreak among other national security issues. Wang is slated to give a keynote speech at the annual Munich Security Conference. Since the deadly outbreak, Wang is the first Chinese senior official to travel overseas. His trip comes as White House officials express doubts about the information coming out of China. — Macias

11:55 am: WHO and China investigate health workers infected with virus

World health officials are working with Chinese authorities to determine when the 1,716 health workers in the country were infected with the COVID-19 coronavirus. It appears infections among medical workers peaked in mid-January and has “rapidly” decreased since, Dr. Mike Ryan, executive director of the World Health Organization’s emergencies program, said at a news conference at the agency’s headquarters in Geneva. “This may reflect increased levels of training, increased levels of protection and increased levels of awareness.” — Lovelace

10:44 am: WHO reveals details on its mission to China

Director-general of the World Health Organization Tedros Adhanom Ghebreyesus said at a news briefing he expects the WHO-led mission to China to arrive over the weekend. The team will include 12 international and WHO experts, Tedros said, as well as the same number of Chinese counterparts, though he did not identify individual members. He said the experts will visit three provinces to observe on-the-ground response efforts, but did not say if the mission will visit the epicenter of the outbreak, the city of Wuhan in Hubei province. “The goal of the joint mission is to rapidly inform the next steps in the COVID-19 response and preparedness activities in China and globally,” he said. —Feuer Read CNBC’s coverage from the U.S. overnight: China tries to get back to work as Beijing sets a 14-day quarantine rule for arrivals.

10:14 am: Beijing authorities issue self-quarantine order for returning residents


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: weizhen tan evelyn cheng natasha turak, weizhen tan, evelyn cheng, natasha turak
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Coronavirus live updates: Singapore braces for more cases, Chinese city bans dining out

Singapore has one of the highest numbers of confirmed cases outside of China. On Thursday, a senior administration official told CNBC the White House does “not have high confidence in the information coming out of China” regarding the count of coronavirus cases. As of Thursday noon, Singapore has 58 confirmed cases of COVID-19, 15 of which have recovered and discharged, according to the country’s Ministry of Health. The Southeast Asian nation with a population of 5.7 million has one of the highe


Singapore has one of the highest numbers of confirmed cases outside of China.
On Thursday, a senior administration official told CNBC the White House does “not have high confidence in the information coming out of China” regarding the count of coronavirus cases.
As of Thursday noon, Singapore has 58 confirmed cases of COVID-19, 15 of which have recovered and discharged, according to the country’s Ministry of Health.
The Southeast Asian nation with a population of 5.7 million has one of the highe
Coronavirus live updates: Singapore braces for more cases, Chinese city bans dining out Cached Page below :
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Coronavirus live updates: Singapore braces for more cases, Chinese city bans dining out

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

3:30 pm: Alibaba warns virus-related disruptions may hit revenue growth in March quarter

The new coronavirus caused more than half of China to shut down for at least a week, and as the country slowly gets back up to speed, e-commerce and technology giant Alibaba said Thursday some of its businesses are getting hit.

“For our e-commerce business, the delay in employees returning to work following the Spring Festival holiday is preventing merchants and the logistic companies from resuming operations,” CEO Daniel Zhang said, according to a transcript seen by CNBC. He added that a “significant number of packages” were not able to be delivered on time.

Chief Financial Officer Maggie Wu said it was too early to quantify the impact of the coronavirus on the company, she noted the disruptions from the disease would likely negatively hit overall revenue growth for the March quarter, especially in its businesses which rely on physical production — such as the retail marketplace and consumer services in China.

The company reported a 38% year-on-year increase in revenue to 161.5 billion yuan ($23.2 billion) in the quarter ended Dec. 31. That’s slightly slower than the 41% revenue growth between the December quarter of 2017 and 2018. Alibaba shares closed 1.76% lower in U.S. trading, while its Hong Kong-listed stocks were down around 0.8% on Friday.

3:15 pm: China allocates more funding for virus control efforts

China’s finance ministries have allocated 80.55 billion yuan ($11.5 billion) for virus prevention and control efforts as of Thursday, Ou Wenhan, assistant finance minister, said Friday at a press conference in Beijing, according to a CNBC translation of his Mandarin-language remarks. He added that 41 million yuan has already been paid out. The total allocation is an increase of about $2 billion from the 66.74 billion yuan the ministry disclosed last week.

3:00 pm: Singapore’s leader flags risk of recession due to virus

Singapore Prime Minister Lee Hsien Loong said Friday that the coronavirus’ economic impact on the island nation’s economy has already exceeded that of SARS in 2003, according to a report by local publication The Straits Times. Lee said it’s possible that the city-state could go into recession. Singapore has one of the highest numbers of confirmed cases outside of China. (see 11.22 a.m. update) — Huang

2:40 pm: Global airline revenue set to plummet

Global airline revenues could drop by between $4 billion and $5 billion in the first quarter of this year, as flights got cancelled due to the coronavirus outbreak, according to a forecast by the United Nations’ International Civil Aviation Organization. Some 70 airlines have cancelled all international flights to and from mainland China, and another 50 airlines have curtailed related air operations, it said. That has resulted in an 80% decrease in foreign airline capacity for mainland China. In terms of impact to tourism in the first quarter, due to fewer Chinese travelers, Japan could be hurt the most by losses worth $1.29 billion in tourism revenue, followed by Thailand at $1.15 billion, according to the organization.

2:15 pm: China’s industrial power demand set to drop as shutdown continues

Industrial power demand in China may drop by as much as 73 billion kilowatt hours — representing 1.5% of industrial power consumption in the country, according to Reuters citing IHS Markit estimates. Many of China’s factories are not yet functioning at full capacity, or are under an extended shutdown. Last year, industrial power consumption accounted for 67% of the country’s total, according to the report. Meanwhile, weaving machines at textile plants are operating at the lowest in five years — below 10% of capacity, the report says, citing ICIS data. The country is the largest textile and garment exporter in the world.

1:15 pm: China writes off 108 deaths in Hubei, citing double-counting error in province

China’s health commission said Friday it removed 108 deaths from the total figure due to a double-count in Hubei province, the epicenter of the global coronavirus outbreak. The pneumonia-causing virus has killed a total of 1,380 people in mainland China as of the end of Thursday, the commission said in its Chinese-language daily online report. In parentheses after the death count, the statement added, per a CNBC translation: “Because of duplicated Hubei province statistics, 108 are written off.” Friday’s report is the second day in a row the province’s data has caused major changes to a nationwide figure. And it adds to doubts many have about the accuracy of the data. On Thursday, a senior administration official told CNBC the White House does “not have high confidence in the information coming out of China” regarding the count of coronavirus cases.

12:30 pm: Chinese officials recommend using tech, localized approach to tackle outbreak

As the virus spreads outside the city of Wuhan, Chinese officials said at a meeting Wednesday that regions that are hardest hit by the disease must take immediate measures in screening, quarantine and medical treatment modeled after the response in Wuhan. That’s according to an English-language press release from China’s Ministry of Foreign Affairs. The meeting of the national-level virus response group, chaired by Premier Li Keqiang, also ordered local governments to use targeted response measures, rather than blanket, one-size-fits-all policies. The meeting did recommend local authorities use big data technology for tracing the transmission of the disease through contact, and monitoring those at risk for contracting it.

Some places in China have already been asking locals to enter some personal identification information into an app before taking public transit, or entering shopping centers.

11:22 am: Singapore must be prepared for cases to climb, minister says

Singapore must be prepared that the number of confirmed coronavirus cases in the country could continue to climb in the coming weeks, said Janil Puthucheary, senior minister of state at Singapore’s Ministry of Transport and Ministry of Communications and Information. As of Thursday noon, Singapore has 58 confirmed cases of COVID-19, 15 of which have recovered and discharged, according to the country’s Ministry of Health. The Southeast Asian nation with a population of 5.7 million has one of the highest numbers of cases outside China. Singapore has not recorded any deaths, but that too is something people must be “psychologically prepared” for as the number of cases continue to rise, said Puthucheary. — Lee

10:40 am: China confirms 121 more deaths, 5,090 new cases

China’s National Health Commission reported an additional 121 deaths nationwide, as well as 5,090 new confirmed cases as of Feb. 13.

10:05 am: Supply chain disruptions have hit businesses, says American Chamber of Commerce

Gregory Gilligan, chairman of the American Chamber of Commerce in China said supply chain disruptions have hit members and that the organization is helping companies navigate different regulations in various parts of China. “We’ve basically been working with folks to work around to get through the temporary regulations that are in place to try to slow down the virus. Many places have put up measures that impact logistics, transportation — so delivery of materials, getting materials that are once produced out, etc,” he said. — Huileng Tan

9:30 am: Guangzhou bans people from dining out in restaurants

In a bid to curb the spread of the virus, China’s Guangzhou city has banned people from going out to eat at restaurants. That ban was effective Feb. 12, as people came back to work this week after the extended Lunar New Year break. Guangzhou is the capital of the manufacturing hub of Guangdong province, and is one of the largest cities in China.

9:10 am: Bank of Japan warns coronavirus could hurt the country’s economy

Japan’s central bank said the impact of the outbreak on production and tourism must be monitored. The country’s economy may already have contracted sharply in the October to December quarter due to slowing overseas demand and consumption taking a hit due to natural disasters, it said, according to Reuters. Japan has 33 confirmed cases so far, and it reported its first death of a coronavirus patient on Thursday, although it was unclear if it was directly linked to the disease. That would be the third coronavirus death outside of China.

8:45 am: Chickens meant for China are being rerouted due to outbreak

Shipments of chicken from the U.S. to China are being diverted to ports in Hong Kong, South Korea, Taiwan and Vietnam due to the virus outbreak, according to Reuters, citing a U.S. poultry export trade group. This is due to the outbreak keeping people from coming back to work in China, leading to a slowdown in the unloading of products at Chinese ports, which have run out of space for refrigerated containers. Such containers must be plugged into power once offloaded, to keep frozen meat cold, the USA Poultry & Egg Export Council told Reuters. An estimated 300 to 400 refrigerated containers with poultry are being diverted, the council said, according to the report.

7:55 am: Hubei reports 4,823 new cases

China’s Hubei province reported an additional 116 deaths and 4,823 new confirmed cases as of the end of Feb. 13. Of the new cases, the government said that 3,095 were “clinically diagnosed.” That term refers to a new method for tabulating case totals which now count toward the “confirmed case” count. The change was made so a broader set of patients can receive the same treatment a confirmed case does, according to a CNBC translation of the official announcement’s Chinese text. In total, Hubei authorities said that 51,986 people have been infected in the province.

A woman wears a protective mask as she rides a bicycle on February 11.2020 in Wuhan. Hubei province, China. Flights, trains and public transport including buses, subway and ferry services have been suspended. Getty Images

All times below are in Eastern time.

5:55 pm: Royal Caribbean warns cruise cancellations in Asia to shave 2020 profit by 65 cents

Royal Caribbean has had to cancel 18 sailings in Southeast Asia and modify itineraries for several other cruises. The result: a big blow the bottom line. The company expects 65 cents will be shaved off its 2020 earnings per share. If the outbreak continues and it’s forced to cancel all of its trips in the region through the end of April, profits would take an additional hit of 55 cents per share. The company added it’s in regular conversation with the CDC, the WHO and other health authorities and has put in place measures to protect passengers and crew. Among those steps is denying the boarding of people who have travelled to and from mainland China or Hong Kong in the past 15 days. “It is important that every organization acts responsibly, and we have already taken aggressive steps to minimize risk through boarding restrictions and itinerary changes,” said Richard D. Fain, chairman and CEO. Royal Caribbean shares were down more than 1% in extended trading. Shares have fallen nearly 15% since the start of the year. — Cheddar Berk

12:07 pm: White House does not have ‘high confidence’ in China’s coronavirus data

The United States does “not have high confidence in the information coming out of China” regarding the count of coronavirus cases, a senior administration official told CNBC’s . The official also noted that China “continues to rebuff American offers of assistance.” The New York Times reported last week that Chinese authorities had shown little interest in accepting help from the U.S. — Lovelace

10:25 am: CDC confirms 15th US case in evacuee under quarantine at Texas military base

The Centers for Disease Control and Prevention confirmed a 15th case in the U.S., a recent evacuee from Wuhan who was quarantined at the Joint Base San Antonio-Lackland in Texas. The U.S. evacuated roughly 800 Americans from Wuhan, more than 600 of which remain under quarantine at military facilities across the nation. Two other evacuees at a Marine Corps base near San Diego, California also have COVID-19, the CDC said Wednesday. “There will likely be additional cases in the coming days and weeks, including among other people recently returned from Wuhan,” the CDC said. — Feuer

9:36 am: China’s Huanggang to seal apartments as it tightens virus control measures


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: weizhen tan evelyn cheng, weizhen tan, evelyn cheng
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GM, Hyundai and Kia escape US auto tariffs on South Korean-made cars

South Korean-made vehicles are forecast to account for about 5.5%, or 923,000, of U.S. vehicle sales this year, according to LMC Automotive. The company accounted for roughly 1 in every 4 vehicles coming from South Korea last year, according to LMC. American auto brands also haven’t performed well in South Korea, according to Swiecki, who has been traveling to South Korea since 2006. “The downside of South Korea has always been the unions are tough,” said IHS principal automotive analyst Stephan


South Korean-made vehicles are forecast to account for about 5.5%, or 923,000, of U.S. vehicle sales this year, according to LMC Automotive.
The company accounted for roughly 1 in every 4 vehicles coming from South Korea last year, according to LMC.
American auto brands also haven’t performed well in South Korea, according to Swiecki, who has been traveling to South Korea since 2006.
“The downside of South Korea has always been the unions are tough,” said IHS principal automotive analyst Stephan
GM, Hyundai and Kia escape US auto tariffs on South Korean-made cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: michael wayland
Keywords: news, cnbc, companies, koreanmade, korea, auto, country, vehicles, according, automotive, kia, cars, hyundai, vehicle, tariffs, escape, south, lmc, chevrolet


GM, Hyundai and Kia escape US auto tariffs on South Korean-made cars

The 2021 Chevrolet Trailblazer is one of a handful of vehicles to be exported from South Korea to the U.S. by General Motors in 2020. GM

As the Trump administration weighs a plan to increase tariffs on European-made vehicles and continues unprecedented trade negotiations with China, a safe haven for automakers to import vehicles to the U.S. tariff-free is South Korea. It’s a situation that’s unlikely to change anytime soon as President Donald Trump renegotiated a trade deal with the country in 2018. That accord was touted for improving vehicle imports to South Korea, but it did little to address vehicle exports to the U.S., which are expected to hit a new record this year. South Korean-made vehicles are forecast to account for about 5.5%, or 923,000, of U.S. vehicle sales this year, according to LMC Automotive. That’s up from 4.5% last year and comparable with European-made vehicles at about 7%. “You’ve got some decent numbers coming in volume-wise,” said Jeff Schuster, president of the Americas and global vehicle forecasts at automotive industry forecasting firm. “It’s relatively stable from a percentage standpoint.” General Motors is the only U.S.-based automaker that imports South Korean-made vehicles to the United States. The company accounted for roughly 1 in every 4 vehicles coming from South Korea last year, according to LMC. South Korean-based automakers Hyundai Motor and Kia Motors, which operate under the same parent company, accounted for the rest.

GM’s South Korean operations, which employ 9,200 people, allowed it to quickly offer new small crossovers in the early-2010s, capitalizing on U.S. consumer preference moving away from passenger cars. GM currently produces small crossovers such as the Buick Encore, Chevrolet Trax and upcoming Buick Encore GX and Chevrolet Trailblazer in South Korea for the U.S. market. It also assembles several passenger cars such as the Chevrolet Malibu and Chevrolet Spark for local markets. It operates three assembly plants in the country. Only about 6% of GM’s U.S. vehicle sales last year were imported from South Korea. That compares with Hyundai/Kia at about 45%, according to LMC and annual sales reported by the companies.

Tariff-free vs. costs

Despite South Korea’s tariff-free status, automakers aren’t flocking there due to the country’s tough labor unions that are known for striking, as well as benefits of avoiding tariffs not outweighing the associated costs of moving there. “You would have a payoff period of way too many years to make it worthwhile because you’re just saving that tariff, which is essentially 2.5% for most countries,” said Bernard Swiecki, an expert on South Korea and a senior automotive analyst with the Center for Automotive Research. American auto brands also haven’t performed well in South Korea, according to Swiecki, who has been traveling to South Korea since 2006. A cap lifted for vehicle exports from the U.S. to the county as part of Trump’s renegotiated deal with South Korea also didn’t help matters because automakers weren’t close to approaching that threshold, he said.

GM, according to two sources familiar with the plans, threatened to end all operations in the country two years ago if the union didn’t allow it to restructure operations, including the closure of an assembly plant. “The downside of South Korea has always been the unions are tough,” said IHS principal automotive analyst Stephanie Brinley. “They’re very difficult to deal with.” GM’s roots in the country are a result of Daewoo, a defunct automaker in the country that GM acquired assets from in 2002. GM also operates an engineering plant in the country, which Steve Kiefer, GM president of South America and International Operations, last week described as “a key production sourcing and engineering hub.” “They embedded a lot of American and European engineers there as well. I think they did learn quite a bit about small cars in that space,” Brinley said during an investor day presentation. “It’s continued to provide benefits.”

Exports to decline

GM’s imports from South Korea grew from fewer than 90,000 vehicles in 2014 to more than 185,000 last year, according to LMC. The automaker is expected to import more than 253,000 vehicles this year, according to the auto research firm. That compares with Hyundai/Kia at nearly 670,000 vehicles forecast for 2020 — slightly higher than its annual average since 2014. “Overall, you’ve got the Korean stronghold but then you have GM leveraging the former Daewoo operation there,” Schuster said. “It’s taking advantage of obviously the small (crossovers) that are coming from there.” LMC expects imports from South Korea to the U.S. to level off in coming years as domestic sales slow, localized vehicle production from Hyundai/Kia grows and GM potentially ending production of some of its vehicles currently being imported to the United States.

The 2020 Hyundai Tucson, one of the company’s best-selling vehicles, is imported from South Korea to the U.S. Hyundai


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: michael wayland
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White House considering tax incentive for more Americans to buy stocks, sources say

The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k). “Nothing’s ruled out,” said one senior administration official. The White House publicly has been pointing to the package as a new shot of adrenaline in an economy whose growth shows signs of slowing 10 years into an expansion. A payroll tax cut would become an option only if the economy experienced significant decline


The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k).
“Nothing’s ruled out,” said one senior administration official.
The White House publicly has been pointing to the package as a new shot of adrenaline in an economy whose growth shows signs of slowing 10 years into an expansion.
A payroll tax cut would become an option only if the economy experienced significant decline
White House considering tax incentive for more Americans to buy stocks, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: kayla tausche
Keywords: news, cnbc, companies, trump, stocks, house, according, sources, officials, considering, cuts, buy, president, americans, administration, white, tax, incentive, say, senior


White House considering tax incentive for more Americans to buy stocks, sources say

WASHINGTON — As part of a forthcoming package of proposed tax cuts, the White House is considering ways to incentivize U.S. households to invest in the stock market, according to four senior administration officials familiar with the discussions.

The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k). Under one hypothetical scenario described by multiple officials, a household earning up to $200,000 could invest $10,000 of that income on a tax-free basis, although officials noted these numbers are fluid.

“Nothing’s ruled out,” said one senior administration official. “Nothing’s been ruled in, either.”

Larry Kudlow, director of the National Economic Council, told CNBC the approach looked at most closely centers on creating universal savings accounts, which would combine retirement, education and health care savings into one vehicle.

Money put into the account would be done so on an after-tax basis, and taxed when withdrawn as well; but any accumulation of profits during the investment timeframe, known as capital gains, would not be taxed. Kudlow told CNBC this policy, if pursued, may extend to bonds as well as stocks.

Kudlow noted that this and other ideas have yet to be fleshed out, and no decisions have been made.

The development comes as President Donald Trump seeks reelection this fall. He has sought to distinguish himself from his potential Democratic rivals by accusing of them of pursuing “socialist” policies while he has touted tax cuts and deregulation under his administration.

After the Great Recession, the percentage of American households owning stocks fell to 52% from 62% before the crisis, according to Gallup. That percentage reached 55% in 2019, a year when the stock market hit record highs.

The tax break, if enacted, would represent “a pretty substantial amount of money for people” to have for retirement, according to Stephen Moore, economist at the conservative Heritage Foundation and close confidante of the White House.

“That’s the type of thing that would expand ownership,” Moore tells CNBC.

The stock market’s rise under Trump’s tenure is a well-documented point of pride for the president and his top economic officials, who have called the Dow Jones Industrial Average a “barometer” and a “mark-to-market indicator” of the administration’s performance. The S&P 500, seen as the broadest index of corporate performance, has risen 49% since Trump took office.

The White House publicly has been pointing to the package as a new shot of adrenaline in an economy whose growth shows signs of slowing 10 years into an expansion. A payroll tax cut would become an option only if the economy experienced significant decline, according to two senior administration officials. Separately, Kudlow has suggested cutting the tax rate to 15% for middle-class earners.

Kudlow and Vice President Mike Pence have suggested that the package could be unveiled in early fall, as voters are deliberating whether to elect Trump to a second term.

New tax cuts are “one of the reasons why we’re going to focus so much energy on making sure that not only do we get President Donald Trump four more years in this White House,” Pence said in a recent interview on the Fox Business Network. “But we’re going to make sure that we reelect a Republican Senate and elect a Republican House of Representatives.”

Any tax cuts would need congressional approval to take effect, a tall order while Democrats have the majority in the House of Representatives. For that reason, officials described the proposal that would be made public as “conceptual in nature.”

“It’s sort of an idealistic document,” said a senior official involved in discussions. “Sort of, ‘If you reelect this administration, this is what you’re going to get.'”


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: kayla tausche
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Here’s what Chase Coleman, manager of the red-hot Tiger Global hedge fund, is betting on now

Chase Coleman and his Tiger Global hedge fund added positions in PayPal and Alphabet and raised their position in Slack last quarter, continuing a history of big bets on technology companies. Coleman is a protégé of legendary investor Julian Robertson, who closed his Tiger Management fund in 2000 and gave Coleman $25 million to strike out on his own. Coleman has made his name as a growth investor, specifically with tech stocks. The fund, which also has a large private equity company, gained 33%


Chase Coleman and his Tiger Global hedge fund added positions in PayPal and Alphabet and raised their position in Slack last quarter, continuing a history of big bets on technology companies.
Coleman is a protégé of legendary investor Julian Robertson, who closed his Tiger Management fund in 2000 and gave Coleman $25 million to strike out on his own.
Coleman has made his name as a growth investor, specifically with tech stocks.
The fund, which also has a large private equity company, gained 33%
Here’s what Chase Coleman, manager of the red-hot Tiger Global hedge fund, is betting on now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: jesse pound
Keywords: news, cnbc, companies, coleman, valued, total, heres, according, hedge, redhot, positions, manager, betting, global, chase, fund, tiger, technology, investor


Here's what Chase Coleman, manager of the red-hot Tiger Global hedge fund, is betting on now

(This article is for CNBC PRO subscribers only).

Chase Coleman and his Tiger Global hedge fund added positions in PayPal and Alphabet and raised their position in Slack last quarter, continuing a history of big bets on technology companies.

Coleman is a protégé of legendary investor Julian Robertson, who closed his Tiger Management fund in 2000 and gave Coleman $25 million to strike out on his own.

Coleman has made his name as a growth investor, specifically with tech stocks. The fund, which also has a large private equity company, gained 33% last year and its total assets have grown by 80% since May 2015, according to Bloomberg.

Tiger Global has positions in six public companies that are valued at more than $1 billion, according to a securities filing released Friday.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: jesse pound
Keywords: news, cnbc, companies, coleman, valued, total, heres, according, hedge, redhot, positions, manager, betting, global, chase, fund, tiger, technology, investor


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4 of the best days of the year to make money babysitting

But whatever your local going rate, there are days throughout the year when parents are more likely to need your babysitting help — and might pay more than usual. New Year’s EveNew Year’s Eve was the most popular holiday for parents to post babysitting jobs in 2019, according to Care.com, which means New Year’s Eve offers an abundance of opportunities to pick up some work. Valentine’s DayThe second most popular holiday for parents to post babysitting jobs in 2019 was Valentine’s Day, with averag


But whatever your local going rate, there are days throughout the year when parents are more likely to need your babysitting help — and might pay more than usual.
New Year’s EveNew Year’s Eve was the most popular holiday for parents to post babysitting jobs in 2019, according to Care.com, which means New Year’s Eve offers an abundance of opportunities to pick up some work.
Valentine’s DayThe second most popular holiday for parents to post babysitting jobs in 2019 was Valentine’s Day, with averag
4 of the best days of the year to make money babysitting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: gili malinsky
Keywords: news, cnbc, companies, money, pay, days, jobs, babysitting, holiday, parents, carecom, valentines, according, best, average, night


4 of the best days of the year to make money babysitting

The average babysitter makes $16.50 per hour in the U.S., according to Sittercity. That varies by city and the number of kids you’re watching. But whatever your local going rate, there are days throughout the year when parents are more likely to need your babysitting help — and might pay more than usual. If you’re interested in picking up some extra cash, consider listing your child-care services on sites like Care.com, Sittercity, or Sitter, and make sure to book a night of work on any of the following throughout the year.

1. New Year’s Eve

New Year’s Eve was the most popular holiday for parents to post babysitting jobs in 2019, according to Care.com, which means New Year’s Eve offers an abundance of opportunities to pick up some work. And the average hourly rate for a babysitter on New Year’s in 2019 was 20% higher than on any other night of the year, according to WalletHub. If you want to maximize your earnings, consider keeping your calendar open.

2. Valentine’s Day

The second most popular holiday for parents to post babysitting jobs in 2019 was Valentine’s Day, with average hourly rates varying from about $14 to about $19, according to Care.com. This year, 34% of couples plan to have a night out on Valentine’s Day, according to WalletHub, so it’s a good opportunity to sign up on the sites or reach out to the parents that you know and offer your services.

Video by Stephen Parkhurst

3. Christmas Day

The most expensive holidays to hire a sitter are ones on which they’re most likely to have their own plans. With as many as 90% of Americans saying they celebrate Christmas, according to the Pew Research Center, December 25 could be a great time to book a babysitting gig: Clients understand they’re pulling you away from your own celebrations and could potentially pay more than usual. The first two weeks of December, when parents see a lot of holiday invites, drive up demand for babysitters as well, according to babysitting app Bambino. Being on the lookout for jobs throughout the season is smart — clients feeling the holiday spirit may pay, and tip, more generously, too.

4. Fourth of July


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: gili malinsky
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Here’s what would happen to FANG stocks if regulators break them up, according to Bank of America

Breaking up major tech firms could create winners and losers for investors in the popular stocks, according to Bank of America. The bank’s new client note from analyst Justin Post comes after the Federal Trade Commission said on Tuesday that it will review acquisitions made by major tech companies over the past decade. Alphabet, Facebook, Amazon, Apple and Microsoft were all named in the press release. The odds of regulators forcing break-ups are low, Post said, but some of the stocks could see


Breaking up major tech firms could create winners and losers for investors in the popular stocks, according to Bank of America.
The bank’s new client note from analyst Justin Post comes after the Federal Trade Commission said on Tuesday that it will review acquisitions made by major tech companies over the past decade.
Alphabet, Facebook, Amazon, Apple and Microsoft were all named in the press release.
The odds of regulators forcing break-ups are low, Post said, but some of the stocks could see
Here’s what would happen to FANG stocks if regulators break them up, according to Bank of America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: jesse pound
Keywords: news, cnbc, companies, according, post, happen, fang, value, bank, break, america, rise, winners, regulators, tech, review, stocks, trade, releasethe, heres, major


Here's what would happen to FANG stocks if regulators break them up, according to Bank of America

Breaking up major tech firms could create winners and losers for investors in the popular stocks, according to Bank of America.

The bank’s new client note from analyst Justin Post comes after the Federal Trade Commission said on Tuesday that it will review acquisitions made by major tech companies over the past decade. Alphabet, Facebook, Amazon, Apple and Microsoft were all named in the press release.

The odds of regulators forcing break-ups are low, Post said, but some of the stocks could see a rise in overall value if it happens.


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: jesse pound
Keywords: news, cnbc, companies, according, post, happen, fang, value, bank, break, america, rise, winners, regulators, tech, review, stocks, trade, releasethe, heres, major


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