Trump Won't Quarantine N.Y., China's 45 New Cases: Virus Update




 

(Bloomberg) -- President Donald Trump said he's not putting New York and parts of New Jersey and Connecticut under quarantine to stop the spread of Covid-19 in those hard-hit areas but will issue a "strong travel advisory."

In an announcement on Twitter, Trump followed up on a suggestion he first raised on Saturday at the White House, but avoided the harshest outcome.

China said 44 of the new cases reported on March 28 are imported.

Australia's government is set to provide further income support for workers who lose their jobs as the coronavirus outbreak savages the economy.

Key Developments:

Cases top 659,000; 30,400 dead, 139,300 recovered: Johns HopkinsItaly's death toll tops 10,000, U.S. tally nears 2,000Australia unveils wage subsidy, health spending packageSouth Korea unveils 105 more cases, total 9,583Japan's Abe plans biggest-ever stimulus to battle virusEurope's virus carnage has Italy, Spain grasping for answers

Subscribe to a daily update on the virus from Bloomberg's Prognosis team here.

Click VRUS on the terminal for news and data on the coronavirus and here for maps and charts. For analysis of the impact from Bloomberg Economics, click here. For BNEF's view of the impact on energy, click here.

Australia Unveils Wage Subsidy (8:38 a.m. HK)

Australia's Prime Minister Scott Morrison said in Canberra Sunday he's been working with Treasury and other officials to ensure further income support across the Australian economy.

Morrison's comments come after the Australian Financial Review reported the government is set to announce a U.K.-style wage subsidy to shuttered businesses that retain workers. The subsidy will be similar to the 75%-80% program enacted by Canada, Denmark and the U.K., the newspaper reported, without saying where it got the information.

Australia had 3,809 confirmed cases of Covid-19 as of 6 a.m. Sunday, an increase of 431 in the previous 24 hours. The nation's death toll stood at 16.

The government a week ago unleashed an additional A$66 billion ($41 billion) in its second economic stimulus plan, including doubling unemployment benefits. Separately, Morrison on Sunday also announced a A$1.1 billion package to boost spending on health services and combating domestic violence.

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Trump Backs Down on Quarantining New York (8:42 a.m. HK)

The U.S. Centers for Disease Control and Prevention issued a domestic travel advisory, urging New York, New Jersey and Connecticut residents to avoid non-essential travel.

Earlier, Trump told reporters that "some people" would like him to impose a quarantine on the greater New York area, which accounts for more than half the U.S. infections. "It will be for a short period of time if we do it at all," he said.

New York's Andrew Cuomo said on CNN that the move would amount to a "federal declaration of war" against the states -- one that's apparently been forestalled for now. Targeted quarantines would shock the U.S. economy, especially if they involved New York City, the nation's financial center -- the opposite of what Trump has said he wants, Cuomo said.

China's New Cases Mostly Imported (8:24 a.m. HK)

China's National Health Commission said all but one of the new cases reported on March 28 are imported as a policy to block almost all foreigners from entering the industry took effect Saturday.

China has a total of 81,439 confirmed cases, with 693 of those imported, according to a statement on NHC's website. The death toll rose by five to 3,300, with all new deaths reported in Hubei province. Discharged patients rose by 477 to 75,448.

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Detroit's Auto Show Canceled for 2020 (7:15 a.m. HK)

The North American International Auto Show said it's canceling the industry's biggest event scheduled in June and will resume the show in 2021.

The venue, TCF Center, will be repurposed as a field hospital for Covid-19 cases, the organizers said. The Detroit Auto Show will resume on June 11, 2021, with the public show scheduled for June 19-26.

Gilead Expands Access to Drug (6:25 a.m. HK)

Gilead Sciences Inc. said multiple studies are ongoing about the potential use of remdesivir to treat Covid-19, and the company is working at "unprecedented speed" to get patients in clinical trials.

"We are on track to have initial data in the coming weeks," the company said.

The company provided remdesivir to more than 1,000 patients under a "compassionate use" program typically reserved for a small number of cases. Gilead is transitioning to an "expanded access" program that will let hospitals or physicians apply for emergency use of remdesivir for multiple severely ill patients.

Read the story here

Hyatt Furloughs Two-Thirds of Workers (4:10 p.m. NY)

Hyatt Hotels Corp. will furlough or significantly reduce the schedules of two-thirds of its U.S. corporate employees as the company cuts costs with plunging hotel revenue.

The steps begin April 1 and continue through the end of May and affect employees in other regions, said a company spokesman. Hyatt will fund health insurance premiums for the workers, and employees who aren't sent home will take temporary pay cuts.

Hyatt Chief Executive Officer Mark Hoplamazian and Chairman Tom Pritzker aren't taking salaries, the spokesman said. The company's senior leadership team is taking a 50% pay cut.

Read more here

Italian Deaths Exceeds 10,000 (2:30 p.m. NY)

Italy's coronavirus death toll topped 10,000 even as the daily total slowed to 889 from a record 969 on Friday. The nation reported 5,974 new infections, about the same as the previous day.

Italy, which has the pandemic's highest death toll, is set to extend drastic containment measures until mid-April and will more than double the financial stimulus for its paralyzed economy. Prime Minister Giuseppe Conte and French President Emmanuel Macron are advocating a joint European Union response, exposing an EU rift dating back to the euro-area debt crisis.

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