Singapore downgrades 2020 economic forecast amid coronavirus outbreak

Singapore on Monday downgraded its growth forecast for 2020 as the country grapples with one of the highest numbers of coronavirus cases outside China. “The (earlier) forecast was premised on a modest pickup in global growth, along with a recovery in the global electronics cycle, in 2020. Since then, the outbreak of the coronavirus disease 2019 (COVID-19) has affected China, Singapore and many countries around the world,” the ministry said in a statement. The tourism and transport sectors have b


Singapore on Monday downgraded its growth forecast for 2020 as the country grapples with one of the highest numbers of coronavirus cases outside China.
“The (earlier) forecast was premised on a modest pickup in global growth, along with a recovery in the global electronics cycle, in 2020.
Since then, the outbreak of the coronavirus disease 2019 (COVID-19) has affected China, Singapore and many countries around the world,” the ministry said in a statement.
The tourism and transport sectors have b
Singapore downgrades 2020 economic forecast amid coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: yen nee lee
Keywords: news, cnbc, companies, trade, forecast, ministry, global, economic, fall, outbreak, singapore, sectors, 2020, downgrades, coronavirus, growth, amid


Singapore downgrades 2020 economic forecast amid coronavirus outbreak

Singapore on Monday downgraded its growth forecast for 2020 as the country grapples with one of the highest numbers of coronavirus cases outside China.

The Ministry of Trade and Industry said the Singapore economy is expected to grow by around 0.5% this year, and downgraded its forecast range for the change in annual gross domestic product to between -0.5% and 1.5%. That’s worse than the earlier projections of a growth between 0.5% and 2.5%.

“The (earlier) forecast was premised on a modest pickup in global growth, along with a recovery in the global electronics cycle, in 2020. Since then, the outbreak of the coronavirus disease 2019 (COVID-19) has affected China, Singapore and many countries around the world,” the ministry said in a statement.

The ministry outlined how the virus outbreak could affect the Singapore economy:

Outward-oriented sectors, such as manufacturing and wholesale trade, will be hit by weaker growth in Singapore’s major demand markets including China.

The tourism and transport sectors have been “badly affected” by “a sharp fall” in tourist arrivals, particularly those from China.

Likely fall in domestic consumption as people cut back on activities such as shopping and dining out.

“As the COVID-19 situation is still evolving, MTI will continue to monitor developments and their impact on the Singapore economy closely,” said the ministry.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: yen nee lee
Keywords: news, cnbc, companies, trade, forecast, ministry, global, economic, fall, outbreak, singapore, sectors, 2020, downgrades, coronavirus, growth, amid


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Tesla ordered to halt work on German factory amid anger over chopping down trees

Tesla plans to build its new European Gigafactory in a huge forest nearby. Tesla has been ordered by a German court to temporarily halt preparations for its new European factory. Environmental activists had raised concerns with the electric carmaker’s plan to chop down trees to clear land for its new plant in the German state of Brandenburg. Tesla and the local government have until midday Tuesday to respond to the court ruling, Brandenburg Economy Minister Joerg Steinbach said on Twitter. Tesla


Tesla plans to build its new European Gigafactory in a huge forest nearby.
Tesla has been ordered by a German court to temporarily halt preparations for its new European factory.
Environmental activists had raised concerns with the electric carmaker’s plan to chop down trees to clear land for its new plant in the German state of Brandenburg.
Tesla and the local government have until midday Tuesday to respond to the court ruling, Brandenburg Economy Minister Joerg Steinbach said on Twitter.
Tesla
Tesla ordered to halt work on German factory amid anger over chopping down trees Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: ryan browne
Keywords: news, cnbc, companies, brandenburg, german, teslas, trees, court, gigafactory, forest, state, halt, tesla, chopping, ordered, anger, plant, work, factory, amid


Tesla ordered to halt work on German factory amid anger over chopping down trees

The freight traffic center in the Gruenheide region east of Berlin. Tesla plans to build its new European Gigafactory in a huge forest nearby.

Tesla has been ordered by a German court to temporarily halt preparations for its new European factory.

Environmental activists had raised concerns with the electric carmaker’s plan to chop down trees to clear land for its new plant in the German state of Brandenburg.

The company does not yet have planning permission to build its new so-called Gigafactory, but the state environmental agency had given it a green light to clear 92 hectares of forest land.

But Tesla has now been dealt a blow after the higher administrative court of Berlin and Brandenburg said it would consider an appeal from local activist group Green League Brandenburg which is opposed to the forest clearance.

The court ordered Tesla to pause the felling, which has already commenced, as it would have been completed in just three days, according to a report from German state-owned broadcaster DW.

The court added that it would not discard the activist group’s appeal against the cutting down of trees as “obviously hopeless from the outset,” DW reported.

Tesla and the local government have until midday Tuesday to respond to the court ruling, Brandenburg Economy Minister Joerg Steinbach said on Twitter.

Tesla didn’t comment directly on the court order when contacted by CNBC, but highlighted a web page detailing its commitment to “replant an area three times the factory plot, with mixed trees native to their habitat and the potential to become an old growth forest.”

The company has purchased 300 hectares of land in the municipality of Gruenheide. The plan is to begin construction this year and start production of Tesla’s Model Y SUVs at a rate of 10,000 cars a week by 2021. It’s looking to hire 12,000 people for the German operation.

Elon Musk, Tesla’s billionaire CEO, has praised Germany’s engineering prowess and said it’s “part of the reason” it is locating its plant there. He also said that Germany was picked over the U.K. due to Brexit uncertainty.

The country is home to two of the world’s largest car manufacturing groups, Volkswagen and Daimler. Tesla’s German facility will be its fourth Gigafactory, with others located in the Nevada, New York, and more recently Shanghai, China.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: ryan browne
Keywords: news, cnbc, companies, brandenburg, german, teslas, trees, court, gigafactory, forest, state, halt, tesla, chopping, ordered, anger, plant, work, factory, amid


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WHO director calls on global leaders to ‘stop stigma and hate’ amid coronavirus epidemic

Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization, speaks at the 56th Munich Security Conference on Coronavirus. MUNICH — As the number of coronavirus cases surges past 60,000, WHO Director-General Tedros Adhanom Ghebreyesus called on global leaders to not politicize the deadly outbreak. “We must stop stigma and hate,” he said Saturday during an address at the Munich Security Conference. Earlier in the day, China’s Foreign Minister Wang Yi also addressed the Munich Se


Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization, speaks at the 56th Munich Security Conference on Coronavirus.
MUNICH — As the number of coronavirus cases surges past 60,000, WHO Director-General Tedros Adhanom Ghebreyesus called on global leaders to not politicize the deadly outbreak.
“We must stop stigma and hate,” he said Saturday during an address at the Munich Security Conference.
Earlier in the day, China’s Foreign Minister Wang Yi also addressed the Munich Se
WHO director calls on global leaders to ‘stop stigma and hate’ amid coronavirus epidemic Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: amanda macias
Keywords: news, cnbc, companies, wang, director, politicize, chinese, stigma, china, coronavirus, leaders, amid, tedros, hate, epidemic, security, stop, munich, sound, world, global, calls


WHO director calls on global leaders to 'stop stigma and hate' amid coronavirus epidemic

Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization, speaks at the 56th Munich Security Conference on Coronavirus.

MUNICH — As the number of coronavirus cases surges past 60,000, WHO Director-General Tedros Adhanom Ghebreyesus called on global leaders to not politicize the deadly outbreak.

“We must stop stigma and hate,” he said Saturday during an address at the Munich Security Conference.

“It’s easy to blame, it’s easy to politicize, it’s harder to tackle a problem together and find solutions together,” he added. “We will all learn lessons from this outbreak, but now is not the time for reclamations or politicization.”

His comments come on the heels of the first coronavirus death confirmed in Europe, an elderly Chinese tourist who was hospitalized in late January. There have been reports from around the world that people of Asian descent have faced discrimination in the wake of the coronavirus outbreak.

On Saturday, the U.S. State Department announced it would evacuate American citizens stuck aboard the Diamond Princess cruise ship that’s been quarantined off the coast of Japan. The vessel represents the largest cluster of infected people outside China, with 285 confirmed cases out of 3,500 passengers and crew.

The flu-like virus, now named COVID-19, has killed more than 1,500 people and sickened more than 66,400 worldwide.

Earlier in the day, China’s Foreign Minister Wang Yi also addressed the Munich Security Conference and said the epidemic has proven to be controllable and largely curable.

Wang also said that any impact the coronavirus may have on the Chinese economy would be “temporary and short-lived.”

“We are confident that China will emerge stronger from the epidemic. Its pent up consumer demand and growth potential will be quickly unleashed and China will enjoy evermore sound and sustainable economic and social development,” Wang told an audience at the Munich Security Conference.

“The Chinese economy is well-positioned to overcome all risks and challenges. The fundamentals sustaining sound economic growth have not changed and will not change,” he added.


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: amanda macias
Keywords: news, cnbc, companies, wang, director, politicize, chinese, stigma, china, coronavirus, leaders, amid, tedros, hate, epidemic, security, stop, munich, sound, world, global, calls


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Consumer sentiment rises in February even amid the coronavirus outbreak

U.S. consumer sentiment figures for February came in higher than expected despite the recent outbreak of the coronavirus. The University of Michigan’s consumer sentiment index came in at 100.9 for February. Economists polled by Dow Jones expected February consumer sentiment to come in at 99.5. Consumers’ assessment of current economic conditions were virtually unchanged from January while expectations rose slightly. “Net gains in household income and wealth were reported more frequently in early


U.S. consumer sentiment figures for February came in higher than expected despite the recent outbreak of the coronavirus.
The University of Michigan’s consumer sentiment index came in at 100.9 for February.
Economists polled by Dow Jones expected February consumer sentiment to come in at 99.5.
Consumers’ assessment of current economic conditions were virtually unchanged from January while expectations rose slightly.
“Net gains in household income and wealth were reported more frequently in early
Consumer sentiment rises in February even amid the coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: fred imbert
Keywords: news, cnbc, companies, economic, sentiment, recent, amid, early, consumer, gains, expected, consumers, rises, coronavirus, outbreak, expectations


Consumer sentiment rises in February even amid the coronavirus outbreak

U.S. consumer sentiment figures for February came in higher than expected despite the recent outbreak of the coronavirus.

The University of Michigan’s consumer sentiment index came in at 100.9 for February. Economists polled by Dow Jones expected February consumer sentiment to come in at 99.5.

Consumers’ assessment of current economic conditions were virtually unchanged from January while expectations rose slightly.

“Current personal finances as well as evaluations of the national economy each posted large gains,” said Richard Curtin, chief economist for the Surveys of Consumers, in a statement. “Net gains in household income and wealth were reported more frequently in early February than at any prior time since 1960.”

He also noted the coronavirus outbreak — which capital markets have been grappling with in recent weeks — is still not a major concern for consumers as just 7% of survey respondents mentioned it “when asked to explain their economic expectations in early February.”

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Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: fred imbert
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Chinese foreign minister attends Munich Security Conference amid coronavirus outbreak

Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019. MUNICH — Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the outbreak of the deadly coronavirus, among other national security issues. Wang is slated to give a keynote speech at the annual Munich Security Conference, which begins Friday and runs through Sunday. Follo


Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019.
MUNICH — Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the outbreak of the deadly coronavirus, among other national security issues.
Wang is slated to give a keynote speech at the annual Munich Security Conference, which begins Friday and runs through Sunday.
Follo
Chinese foreign minister attends Munich Security Conference amid coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: amanda macias
Keywords: news, cnbc, companies, attends, minister, munich, united, outbreak, coronavirus, official, deadly, foreign, chinese, amid, virus, security, wang, trip, china, conference


Chinese foreign minister attends Munich Security Conference amid coronavirus outbreak

Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019.

MUNICH — Chinese Foreign Minister Wang Yi will travel to Germany this weekend to discuss the outbreak of the deadly coronavirus, among other national security issues.

Wang is slated to give a keynote speech at the annual Munich Security Conference, which begins Friday and runs through Sunday.

He is expected to discuss Beijing’s efforts to contain the flu-like virus, now named COVID-19. The virus has killed at least 1,384 people and sickened more than 64,453 worldwide.

Follow CNBC’s live blog on the coronavirus

Since the deadly outbreak, Wang is the first Chinese senior official to travel overseas.

While the majority of confirmed coronavirus cases are in mainland China, the virus has also been identified in Japan, South Korea, Taiwan, Thailand, Vietnam, Philippines, India, Singapore, Nepal, Hong Kong, Macao, Cambodia, Malaysia, Sri Lanka, Italy, France, Germany, Russia, Spain, Belgium, Finland, Sweden, Australia, Canada, the United Arab Emirates, the United States and the United Kingdom.

Wang’s trip to Munich comes as German auto manufacturers brace for production and sale setbacks from the deadly coronavirus.

Cars, the nation’s top export, are uniquely affected by the coronavirus since so many German carmakers have established several auto plants throughout China.

His trip also comes on the heels of White House officials expressing doubts about the information coming out of China regarding the coronavirus. Researchers are skeptical that the official numbers from China reflect how contagious the virus truly is.

China “also continues to rebuff American offers of assistance,” a senior administration official told CNBC.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: amanda macias
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Tesla acknowledges ‘health epidemics’ as new risk in financial filing amid coronavirus outbreak

On Thursday, Tesla acknowledged that the COVID-19, or coronavirus outbreak in and beyond China may have a material adverse impact on their business in an annual financial filing. In the Risk Factors section of the 2019 10-K filing, they included — for the first time ever — a mention of “health epidemics.” Board member Larry Ellison will buy up to $1 million worth of those shares, and CEO Elon Musk will purchase up to $10 million worth. Tesla shares popped earlier this week when the company re-


On Thursday, Tesla acknowledged that the COVID-19, or coronavirus outbreak in and beyond China may have a material adverse impact on their business in an annual financial filing.
In the Risk Factors section of the 2019 10-K filing, they included — for the first time ever — a mention of “health epidemics.”
Board member Larry Ellison will buy up to $1 million worth of those shares, and CEO Elon Musk will purchase up to $10 million worth.
Tesla shares popped earlier this week when the company re-
Tesla acknowledges ‘health epidemics’ as new risk in financial filing amid coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: lora kolodny
Keywords: news, cnbc, companies, financial, filing, musk, shares, tesla, shanghai, acknowledges, week, risk, supply, impact, outbreak, epidemics, elon, coronavirus, amid, plans, china, health


Tesla acknowledges 'health epidemics' as new risk in financial filing amid coronavirus outbreak

Elon Musk, chief executive officer of Tesla Inc., left, gestures while shaking hands with Ying Yong, mayor of Shanghai, during the Tesla China-Made Model 3 Delivery Ceremony at the company’s Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020.

On Thursday, Tesla acknowledged that the COVID-19, or coronavirus outbreak in and beyond China may have a material adverse impact on their business in an annual financial filing.

In the Risk Factors section of the 2019 10-K filing, they included — for the first time ever — a mention of “health epidemics.”

The filing also stated:

“Beginning in late 2019, the media has reported a public health epidemic originating in China, prompting precautionary government-imposed closures of certain travel and business. Gigafactory Shanghai was closed for a brief time as a result, before it reopened in February 2020 and rejoined our U.S. factories, which had continued to operate. It is unknown whether and how global supply chains, particularly for automotive parts, may be affected if such an epidemic persists for an extended period of time. We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results and financial condition.”

Addressing shareholders’ coronavirus concerns in an earnings call on January 30, 2019 Tesla CFO Zach Kirkhorn downplayed the likely impact of the health epidemic:

“At this point, we’re expecting a one to one-and-a-half week delay in the ramp of Shanghai built Model 3 due to a government required factory shutdown. This may slightly impact profitability for the quarter, but is limited as the profit contribution from Model 3 Shanghai remains in the early stages. We are also closely monitoring whether there will be interruptions in the supply chain for cars built in Fremont. So far we’re not aware of anything material.”

He added that Tesla would monitor the evolving situation, and assured investors the electric vehicle maker already had sufficient cash to continue its expansion plans, while further strengthening its balance sheet.

Tesla CEO Elon Musk said on the same call that, even though shares were soaring higher by the week, he had no plans to raise capital, and Tesla would focus on lowering the cost of its battery production instead. “We are still generating positive cash. In light of that, it doesn’t make sense to raise money because we expect to generate cash despite this growth level,” he said.

Two more weeks of coronavirus fears apparently helped to change Tesla’s mind — on Thursday, Tesla announced it plans to offer $2 billion of common stock. Board member Larry Ellison will buy up to $1 million worth of those shares, and CEO Elon Musk will purchase up to $10 million worth.

So far, COVID-19 has taken at least 1,369 lives and infected more than 60,300 people. China is grappling to keep its population as healthy as possible, but lacks a large enough supply of test kits, reagents and other resources that could help it identify and assist or quarantine all people with the virus.

Tesla shares popped earlier this week when the company re-opened its Shanghai-based car plant, with the assistance of Shanghai’s municipal government. It is not clear when Tesla’s factory, and other automakers in China, will be back up to full capacity, or at least back to the capacity they had achieved before the mandated factory shutdowns, which started late last month.

Tesla has also temporarily closed its stores throughout China.

— Dawn Kopecki and Mike Wayland contributed to this report.

Correction: Elon Musk will buy up to $10 million of Tesla stock from the new offering announced Thursday.


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: lora kolodny
Keywords: news, cnbc, companies, financial, filing, musk, shares, tesla, shanghai, acknowledges, week, risk, supply, impact, outbreak, epidemics, elon, coronavirus, amid, plans, china, health


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Amid coronavirus outbreak, one market expert is bullish on Chinese stocks

Despite the coronavirus shaking up Chinese stocks, one market expert said there’s actually hidden value in large-cap Chinese names. Chantico Global CEO Gina Sanchez said that while the coronavirus outbreak could further slow growth in China, as was the case with the SARS outbreak, the FXI China Large-Cap ETF is worth a second look by investors. “So the signing of a phase one trade deal, while it does ensure that we have tariffs, it provides some certainty.” Most notably, the stock has been tradi


Despite the coronavirus shaking up Chinese stocks, one market expert said there’s actually hidden value in large-cap Chinese names.
Chantico Global CEO Gina Sanchez said that while the coronavirus outbreak could further slow growth in China, as was the case with the SARS outbreak, the FXI China Large-Cap ETF is worth a second look by investors.
“So the signing of a phase one trade deal, while it does ensure that we have tariffs, it provides some certainty.”
Most notably, the stock has been tradi
Amid coronavirus outbreak, one market expert is bullish on Chinese stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: annie pei, ivana freitas
Keywords: news, cnbc, companies, expert, market, stocks, gordon, chinese, fxi, amid, actually, largecap, trade, trading, tariffs, coronavirus, value, outbreak, bullish


Amid coronavirus outbreak, one market expert is bullish on Chinese stocks

Despite the coronavirus shaking up Chinese stocks, one market expert said there’s actually hidden value in large-cap Chinese names.

Chantico Global CEO Gina Sanchez said that while the coronavirus outbreak could further slow growth in China, as was the case with the SARS outbreak, the FXI China Large-Cap ETF is worth a second look by investors.

“Remember that the FXI [is made up of] large-cap companies, and they’ve actually been more affected by trade talks,” she said Thursday on CNBC’s “Trading Nation.” “So the signing of a phase one trade deal, while it does ensure that we have tariffs, it provides some certainty.”

Given that the tariffs also actually ended up hitting small-cap Chinese stocks more than their large-cap counterparts, Sanchez said there is “probably value” that will be “trapped for a period of time” as the market determines the true impact of the coronavirus.

Ascent Wealth Partners’ Todd Gordon, however, said the technical picture of FXI, which carries Tencent as its largest holding, bodes ill. Most notably, the stock has been trading in a consolidation that Gordon said straddles the $50 to $55 range.

“I think there are other places to place your capital that are moving much more sharply than this chart that is extremely range-bound,” he said in the same “Trading Nation” interview.

Gordon is specifically eyeing the $52.50 level. If FXI can break above that price, Gordon said, investors could start possibly looking at the ETF.

FXI is down almost 3% this year.


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: annie pei, ivana freitas
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Amid coronavirus, this MIT study will make you always wash your hands at the airport

Researchers from MIT say that washing your hands at the airport could help curb a pandemic by up to 69% — and that includes flu-like illnesses such as coronavirus. They calculated that if 60% of travelers had clean hands, it has the potential to slow a global disease by 69%. But even if just 30% of travelers kept their hands clean, it could reduce the impact of a disease by 24%. With those metrics, the airports that they deemed would have the “greatest impact” are London’s Heathrow, Los Angeles


Researchers from MIT say that washing your hands at the airport could help curb a pandemic by up to 69% — and that includes flu-like illnesses such as coronavirus.
They calculated that if 60% of travelers had clean hands, it has the potential to slow a global disease by 69%.
But even if just 30% of travelers kept their hands clean, it could reduce the impact of a disease by 24%.
With those metrics, the airports that they deemed would have the “greatest impact” are London’s Heathrow, Los Angeles
Amid coronavirus, this MIT study will make you always wash your hands at the airport Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: cory stieg
Keywords: news, cnbc, companies, clean, washing, airports, international, mit, amid, coronavirus, hands, impact, virus, airport, study, using, wash


Amid coronavirus, this MIT study will make you always wash your hands at the airport

In airports, specifically, studies suggest that only about 20% of people have clean hands, Christos Nicolaides, study author and postdoctoral fellow at the MIT Sloan School of Management said in a release .

Although hand-washing may seem like a basic task, studies suggest that 30% of people don’t wash their hands after using the toilet.

Experts and the Centers for Disease Control and the World Health Organization say that proper hand-washing is the best defense against contracting the virus , which has infected more than 45,000 people and led to at least 1,115 deaths.

Coronavirus, which was renamed COVID-19 on Tuesday, is believed to be spread through respiratory droplets that are expelled by coughing and sneezing.

Researchers from MIT say that washing your hands at the airport could help curb a pandemic by up to 69% — and that includes flu-like illnesses such as coronavirus.

That’s a big problem, because airports and airplanes are notoriously germy given the high traffic and turnover. (Coronavirus “super spreader” businessman Steve Walsh likely contracted the virus at a conference in Singapore, then flew to France and traveled to Geneva, Switzerland, and finally flew England’s Gatwick Airport, for example.)

Other research has shown that self‐service check‐in screens, gate bench armrests, water fountain buttons, door handles at airports, seats, tray tables and handles of lavatories in aircraft, tend to be bacteria hotspots. So, it’s extra important to wash your hands after touching these areas.

For this study, researchers used epidemiological modeling to simulate how hand-washing could impact the “diffusion of infections worldwide.” They calculated that if 60% of travelers had clean hands, it has the potential to slow a global disease by 69%. But even if just 30% of travelers kept their hands clean, it could reduce the impact of a disease by 24%.

Researchers also determined the airports that theoretically could have the most impact in spreading a virus, because they provide direct connections to “mega-hub airports,” offer in- and out-bound international flights and are located at “geographically conjunctive points.”

With those metrics, the airports that they deemed would have the “greatest impact” are London’s Heathrow, Los Angeles International Airport, John F. Kennedy International Airport in New York, Sydney Airport and Paris-Charles De Gaulle Airport.

Of course, these findings are limited because they’re based on theoretical models. The U.S. Department of Health and Human Services told Americans on Jan. 31 not to travel to China, where the coronanvirus outbreak began, and several major airlines have suspended flights to mainland China.

But washing your hands is the “primary thing” that people can do to minimize exposure to COVID-19, David Powell, medical advisor at the International Air Transport Association told CNBC Wednesday. Although many people are wearing surgical facemasks for protection, the CDC doesn’t recommend it for people who are well.

And there is a “right way” to wash your hands. The CDC recommends washing your hands with soap and water for at least 20 seconds (or the time it takes you to sing “Happy Birthday” twice), and then rinse your hands and dry them using a clean towel. In instances when you can’t wash your hands, using a 60% alcohol-based hand sanitizer will get rid of some germs, but not all.

It’s important to wash your hands before, during and after food prep or eating, and after using the toilet, changing a diaper, blowing your nose, coughing or sneezing. If you’re caring for someone who is sick with diarrhea or vomiting, treating a cut or wound, touching an animal or handling garbage, the CDC also advises washing your hands.

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Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: cory stieg
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Upward mobility is a challenge for the world amid tech revolution, says Mike Milken

Michael Milken attends Prostate Cancer Foundation’s Dinner At Daniel on November 19, 2019 at Daniel in New York City. Upward mobility is becoming a global challenge that may be related to the technological revolution, according to the chairman of the Milken Institute. Social mobility refers to how easy or difficult it is for someone to rise to a higher social or economic position. “This is a challenge, not just for the United States, but for the world,” he added. Milken then described how the te


Michael Milken attends Prostate Cancer Foundation’s Dinner At Daniel on November 19, 2019 at Daniel in New York City.
Upward mobility is becoming a global challenge that may be related to the technological revolution, according to the chairman of the Milken Institute.
Social mobility refers to how easy or difficult it is for someone to rise to a higher social or economic position.
“This is a challenge, not just for the United States, but for the world,” he added.
Milken then described how the te
Upward mobility is a challenge for the world amid tech revolution, says Mike Milken Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: abigail ng
Keywords: news, cnbc, companies, milken, challenge, amid, upward, rise, daniel, united, world, technology, mike, economic, revolution, mobility, tech, social


Upward mobility is a challenge for the world amid tech revolution, says Mike Milken

Michael Milken attends Prostate Cancer Foundation’s Dinner At Daniel on November 19, 2019 at Daniel in New York City.

Upward mobility is becoming a global challenge that may be related to the technological revolution, according to the chairman of the Milken Institute.

Speaking to CNBC’s “Capital Connection” at the think tank’s Middle East and Africa Summit in Abu Dhabi on Tuesday, Mike Milken said there are different levels of social mobility depending on where a person is born, and this varies even within the United States.

“If I’m born in Salt Lake City in the lowest social economic (level), I have a much better chance to rise in my lifetime to the highest than I do in other cities,” he said.

Social mobility refers to how easy or difficult it is for someone to rise to a higher social or economic position.

“This is a challenge, not just for the United States, but for the world,” he added.

Milken then described how the technology revolution led to uncertainty in the world.

“Every single one of the most valuable companies in the world today believed in faster computers, lower cost of data, ” he said. “With that, enormous fortunes have been created.”

However, people are also becoming worried about the future of jobs as technology changes every industry, he said, citing the sectors such as the media, manufacturing, transportation and energy.


Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: abigail ng
Keywords: news, cnbc, companies, milken, challenge, amid, upward, rise, daniel, united, world, technology, mike, economic, revolution, mobility, tech, social


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US activist fund renews attack on NMC Health amid offer speculation

Italian-backed GKSD confirmed Tuesday that it could bid for the United Arab Emirates’ largest private health care company, but KKR promptly ruled itself out, sending NMC’s shares 17% lower. In a separate announcement, NMC Health said a legal review was underway to verify the total interests in the company of major shareholder B.R. Shetty and his associated family members and holding companies, amid concerns over incorrect disclosures to both the company and the market. NMC Health has been under


Italian-backed GKSD confirmed Tuesday that it could bid for the United Arab Emirates’ largest private health care company, but KKR promptly ruled itself out, sending NMC’s shares 17% lower.
In a separate announcement, NMC Health said a legal review was underway to verify the total interests in the company of major shareholder B.R.
Shetty and his associated family members and holding companies, amid concerns over incorrect disclosures to both the company and the market.
NMC Health has been under
US activist fund renews attack on NMC Health amid offer speculation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: elliot smith
Keywords: news, cnbc, companies, disclosures, activist, offer, renews, nmc, amid, undisclosed, health, debt, company, muddy, waters, speculation, fund, private, stock, attack


US activist fund renews attack on NMC Health amid offer speculation

Carson Block, research director and founder of short-seller Muddy Waters David Paul Morris | Bloomberg | Getty Images

U.S. activist short seller Muddy Waters has upped its attacks on the debt profile, shareholdings and governance of NMC Health after the Lonon-listed hospital chain revealed interest from two private equity groups. In a statement Monday, the Abu Dhabi-based company confirmed that it had received “highly preliminary” approaches from Kohlberg Kravis Roberts (KKR) and GKSD Investment Holding Group. Italian-backed GKSD confirmed Tuesday that it could bid for the United Arab Emirates’ largest private health care company, but KKR promptly ruled itself out, sending NMC’s shares 17% lower. In a separate announcement, NMC Health said a legal review was underway to verify the total interests in the company of major shareholder B.R. Shetty and his associated family members and holding companies, amid concerns over incorrect disclosures to both the company and the market. Monday’s disclosure revealed that 19 million of NMC’s shares are potentially subject to undisclosed share pledges, while U.K. regulator the Financial Conduct Authority (FCA) has announced a probe into misstatements of holdings.

The announcements sent the stock surging to close 32% higher on Monday. NMC Health has been under fire from U.S. activist short seller Muddy Waters, which bet against the company’s stock citing concerns about financial statements and undisclosed debt, and the hedge fund on Tuesday said the disclosures reinforced its view. “Today’s bizarre disclosures about even more pledges and debt validate that the cockroach theory is alive and well — what we found is likely just the tip of the iceberg,” Block said in a statement Monday. “As for the notion that NMC might receive private equity bids, it’s hard for us to believe they would survive due diligence.”

‘Reminiscent of Enron’


Company: cnbc, Activity: cnbc, Date: 2020-02-11  Authors: elliot smith
Keywords: news, cnbc, companies, disclosures, activist, offer, renews, nmc, amid, undisclosed, health, debt, company, muddy, waters, speculation, fund, private, stock, attack


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