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| | | what you need to know about the coronavirus today |
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Skirting the lockdown Italy’s government last week extended non-essential business closures to May 3. But that hasn’t deterred the more than 100,000 mainly small- and medium-sized companies which have applied to keep going or partially reopen. In principle, a key hurdle for companies to keep doing business is to prove they are part of a supply chain to firms that are deemed “essential” in a government decree, such as food, energy or pharmaceuticals.
Lockdowns and ... "discussion orgies”? Germany’s Angela Merkel is known for her balanced and sombre language. But every now and then, she can exhibit quite an eye-catching turn of phrase. “Merkel complains about ‘discussion orgies’ over opening”, ran a headline in the mass-selling daily Bild’s online edition. Bild and other local media explained how Merkel used the expression to show exasperation at the uncontrolled public debate about how to move Germany out of lockdown, especially in regions that risked higher rates of infection.
Easy does it in New Zealand New Zealand’s Prime Minister Jacinda Ardern meanwhile announced some of the world’s strictest lockdown measures would be eased from next week. The Pacific nation of 5 million introduced its toughest “level 4” measures in late March, shutting down offices, schools and all non-essential services. From April 27 it will shift down to “level 3”: Construction, manufacturing and forestry businesses will be allowed to operate under the new rules, meaning hundreds of thousands can resume work.
Turkey third-highest after Europe and U.S. Elsewhere, Turkey’s confirmed coronavirus cases have risen to 86,306, its health minister reported, taking it to the highest total outside of Europe and the United States. Turkey only reported its first coronavirus patient on March 10, but has seen the number of cases rise sharply since then. It now has the seventh-highest number of cases on a country basis.
Track the global spread of the novel coronavirus with our live interactive graphic. | |
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Novartis has won the go-ahead from the U.S. Food and Drug Administration to conduct a randomized trial of malaria drug hydroxychloroquine against COVID-19 disease, the Swiss drugmaker said, to see if it helps patients. The decades-old generic medicine got FDA emergency use authorization this month for its unapproved use for coronavirus disease, but so far there is no scientific proof it works. There are currently no approved COVID-19 medicines. | |
From Breakingviews: India’s HDFC gives investors reason to cheer, as do Premier Foods and carmaker Aston Martin. Plus: Philips gets a mixed health check. Catch up with the latest pandemic-related insights by Breakingviews columnists around the world. | |
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| | Business |
Oil prices fell, depressed by concerns U.S. storage facilities will soon be full as the novel coronavirus pandemic destroys demand and as companies prepare to report their worst quarterly earnings since the 2008 financial crisis. 3 min read | |
Volkswagen has reached settlements with 200,000 of the 260,000 claimants participating in a class action lawsuit brought by German consumer group VZBV over the carmaker’s rigging of diesel emissions tests, the carmaker said. Volkswagen will pay out a total of 620 million euros. It had set aside 830 million to cover the costs of settlements with all participants of in the VZBV class action. 2 min read | |
Virgin Atlantic will only survive the coronavirus outbreak if it gets financial support from the British government, the airline’s founder Richard Branson said. Virgin Australia is poised to enter voluntary administration, local media reported, with the cash-strapped airline unable to weather the coronavirus crisis because of its $3.2 billion of debt. 6 min read | |
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