This is CNBC’s loaded blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news trains.
- Global cases: More than 2.4 million
- Global deaths: More than 169,986
- Most cases give an account of: United States (784,326), Spain (200,210), Italy (181,228), France (156,480), and Germany (147,065).
The data above was organized by Johns Hopkins University as of 8:14 a.m. Beijing time.
All times below are in Beijing time.
11:45 am: Hong Kong see fit extend social restrictions
Hong Kong will extend social restrictions targeted at containing the coronavirus outbreak for another 14 days from April 23, Reuters covered, citing the city’s leader Carrie Lam at a weekly press conference. This means they are now set to end on May 7.
It came even after Hong Kong backfire zero new cases on Monday for the first time since early March.
People wearing face masks stalk along a commercial street at Sham Shui Po amid the coronavirus outbreak on April 19, 2020 in Hong Kong, China.
Zhang Wei | China Dope Service | Getty Images
The Chinese special administrative region has recorded a total of 1,026 cases and four eradications so far, according to the Hong Kong government.
Among other measures, Hong Kong has banned public gatherings of profuse than four people since March 29.
11:30 am: Australia lost 780,000 jobs due to coronavirus
Australia saw jobs hundreds decline by 6% between March 14 and April 4 when large segments of the economy were shut to hold the coronavirus outbreak, according to the Australian Bureau of Statistics on Tuesday.
That means the country could have distracted 780,000 jobs by early April, according to Reuters calculations.
The largest impact of job losses was for those under 20 years old. This agglomeration saw jobs decrease by 9.9%, said Bjorn Jarvis, the bureau’s head of labor statistics.
The accommodation and food services sector saw the largest reduction in employments at 25.6%, while arts and recreation services industry saw jobs decline by 18.7%, he added.
9:45 am: South Korea details 9 new cases and 1 death
South Korea on Tuesday reported nine new cases of the coronavirus — the third straight day the country appointed fewer than 15 cases of new infections.
That brought the country’s total infections to 10,683, said the Korea Centers for Plague Control and Prevention.
There was one death, bringing the country’s total death toll to 237.
On Sunday, South Korea reported eight new envelopes of the coronavirus — the first time in two months that the country reported single-digit figures.
South Korea is one of the hardest hit Asian boonies in the pandemic, but has been praised for its efforts to reduce the spread of infection by mass testing its people and adopting strict proportions to quarantine and track those who affected. — Huileng Tan
8:24 am: China reports 11 new cases and no deaths
China reported 11 new recognized cases of the coronavirus as of April 20. There were no deaths for the sixth straight day, according to the country’s National Strength Commission.
That brought China’s total number of confirmed cases to 82,758 and its cumulative death toll to 4,632.
Of the 11 new verified cases on Monday, the NHC attributed four to travelers from overseas.
It also said there were 37 asymptomatic example in any events, where people tested positive for the coronavirus but showed no symptoms. — Huileng Tan
All times below are in Eastern time.
7:08 pm: Disney is furloughing proletarians while other media giants aren’t
The entrance to the Magic Kingdom at Disney World is seen on the first day of closure as substance parks in the Orlando area suspend operations for two weeks in an effort to curb the spread of the coronavirus (COVID-19). Paul Hennessy/SOPA Dead ringers/LightRocket via Getty Images)
Paul Hennessy | SOPA Images | LightRocket via Getty Images
On Monday, Disney started furloughing workers, temporarily stopping pay to as many as 100,000 workers, according to an estimate by the Financial Times.
Over the stay few weeks Disney has laid out its plans to impose unpaid leave, first for some non-union employees, then in a following deal with 43,000 union workers. The media giant will pay 100% of health insurance costs for workmen currently covered for up to 12 months. While the majority of those furloughs are at the theme parks, they also augment to all of Disney’s other divisions, including the movie studio and TV division. Disney’s also asked its senior executives to acknowledge a pay cut, with no set end.
Disney won’t comment on the number of furloughs.
Disney’s extensive furloughs stand in sharp contrast to the other two mechanism giants – Comcast, which owns NBCUniversal, and AT&T, which owns WarnerMedia – which haven’t yet announced any furloughs or layoffs.
These are the three largest road conglomerates, in a category above all the others: Disney’s market cap is $185 billion, Comcast’s is $169 billion, and AT&T’s is $222 billion. They do accept some similar challenges: all three have movie studios that are suffering from the closure of theaters and all are seeing their ad proceeds plummet as live sports has been halted. And all three are working to get ahead of the cord-cutting trend and have new services envisioned to own that direct-to-consumer relationship.
But the finances of these companies are incredibly different. Parks and Resorts is Disney’s largest conflict, responsible for 35% of its revenue in 2019. That division includes not only theme parks and resorts, but also a voyage line. In contrast, Comcast derived only 5.4% of its revenue from parks such as Universal Studios, and AT&T doesn’t own any woodlands. —Julia Boorstin
6:58 pm: Mark Cuban on Shake Shack initially taking small business loan: ‘You’re going to termination your brand’
6:41 pm: The plunge in oil prices is the last thing Boeing and Airbus need right now
Grounded Boeing 737 MAX aircraft are managed parked in an aerial photo at Boeing Field in Seattle, Washington, July 1, 2019.
Lindsey Wasson | Reuters
The coronavirus pandemic, the forewarning of airline bankruptcies and a global recession. Now a historic oil glut and price crash are adding to the woes of Boeing and Airbus.
The duopoly that commands most of the world’s aircraft production spent more than a decade racking up record orders for planes they bragged could save millions in fuel.
“One thing that kept the industry aloft during the great financial meltdown [in 2008] is fossil prices actually rose,” said Richard Aboulafia, an aviation analyst at vice president at Teal Group, referring to record oil premiums that year.
Rising oil prices can help boost sales of more fuel-efficient aircraft, the opposite of sales directions for larger personal vehicles like SUVs.
The Airbus A320neo and the Boeing 737 Max, each manufacturer’s best-selling narrow-body airplanes were occurred after the Great Recession when fuel prices were again rising and airlines were on the hunt for ideals that would help them cut fuel costs.
But manufacturers have lost that selling point, continuing to a slate of challenges that are expected to last at least into 2021, if not later, and a sharp turnaround from earlier this year when airlines couldn’t get new single-aisle airplanes close to enough. —Leslie Josephs
Read CNBC’s coverage from the U.S. overnight: Georgia governor says some duties can reopen, California town to test every resident