Prime Minister Shinzo Abe has declared a state of emergency in Tokyo and six other hard-hit Japanese prefectures to fortify the fight against the coronavirus outbreak. Q. Why did Abe declare a state of emergency? A. Abe was facing heavy pressure to declare a state of emergency after the number of new cases in Tokyo began doubling every several days in late March.
Just weeks ago, cities and even states across the U.S. were busy banning straws, limiting takeout containers and mandating that shoppers bring reusable bags or pay a small fee as the movement to eliminate single-use plastics took hold in mainstream America. In a matter of days, hard-won bans to reduce the use of plastics — and particularly plastic shopping sacks — across the U.S. have come under fire amid worries about the virus clinging to reusable bags, cups and straws. Governors in Massachusetts and Illinois have banned or strongly discouraged the use of reusable grocery bags.
The big debate over whether face masks can help contain the spread of Covid-19 is shifting quickly, with more countries requiring citizens to cover their faces in public.
The Philippines' Nickel Asia Corp said on Wednesday it has decided to suspend its nickel ore mining and export operations in the southern province of Surigao del Norte in response to the local government's appeal. The Surigao del Norte government has placed the province in the Philippines' nickel mining region in "enhanced community quarantine" as part of nationwide efforts to contain the spread of the coronavirus.
The Centers for Disease Control and Prevention is considering changing its guidelines for self-isolation to make it easier for those who have been exposed to someone with the coronavirus to return to work if they are asymptomatic. The public health agency, in conjunction with the White House coronavirus task force, is considering an announcement as soon as Wednesday, Vice President Mike Pence said on Tuesday.
Southeast Asian stock markets fell on Wednesday after two sessions of sharp gains, as the death toll from the new coronavirus continued to climb across the globe even though infections showed signs of a slowdown. New York state suffered the highest daily loss of life from COVID-19 on Tuesday, even as the number of hospitalisations seemed to be levelling off. Italy, the country with the highest death toll at 17,127, reported a fourth consecutive daily decline in the number of people in intensive care.
Global Ferronickel Holdings Inc , the Philippines' second-biggest nickel ore producer and exporter, said on Wednesday it has decided to suspend mining operations to allay growing concerns over the spread of the coronavirus. The miner, which ships all its ore output to China, said in a statement that its decision was in compliance with the appeal of the local government of Surigao del Norte province in the country's nickel ore mining region to halt its operations.
The pandemic and the drastic containment measures has roiled REITs, long considered a safe haven because of their high yields and prosperous property markets.
The following table shows rates for Asian currencies against the dollar at 0209 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 108.680 108.7 +0.02 Sing dlr 1.427 1.4231 -0.29 Taiwan dlr 30.150 30.152 +0.01 Korean won 1,220.600 1,221.2 +0.05 Baht 32.840 32.75 -0.27 Peso 50.650 50.51 -0.28 Rupiah 16,175.000 16,125 -0.31 Rupee 75.625 75.63 +0.00 Ringgit 4.355 4.335 -0.46 Yuan 7.071 7.0445 -0.37 Change so far in 2020 Currency Latest bid End 2019 Pct Move Japan yen 108.680 108.61 -0.06 Sing dlr 1.427 1.3444 -5.80 Taiwan dlr 30.150 30.106 -0.15 Korean won 1,220.600 1,156.40 -5.26 Baht 32.840 29.91 -8.92 Peso 50.650 50.65 +0.00 Rupiah 16,175.000 13,880 -14.19 Rup...
The global coronavirus outbreak showed few signs of abating on Tuesday, as the U.S. added to its status as the world’s epicenter of new infections, while New York suffered its worst day yet of new fatalities.
The Philippines posted its smallest trade deficit in more than two years in February as imports declined, and exports continued to grow although at a much smaller pace, the statistics agency said on Wednesday. The trade deficit narrowed to $1.65 billion, the smallest since July 2017, data showed. Imports fell 11.6% in February due to a double digit decline in the purchase industrial machinery, transport and telecommunication equipment, among others, while exports rose 2.8%, slower than the previous month's 9.7% growth.
Investors will be monitoring COVID-19 developments and analyzing the Federal Open Market Committee's March meeting minutes Wednesday.
When a coronavirus outbreak hit a Texas nursing home, Dr. Robin Armstrong reached for an unproven treatment: the anti-malaria drug hydroxychloroquine. Armstrong, the medical director at the facility, said Tuesday it is too soon to tell whether the treatment will work.
Two television shows that were saying farewell last week — one permanently and the other for a few months — may have gained more viewers as people stayed home last week because of the coronavirus outbreak. The final episode of CBS' “Hawaii Five-0” and the season finale of ABC's "The Good Doctor were both seen by 40% more viewers last week than watched those shows during the one-month period before the outbreak confined many viewers to their homes, the Nielsen company said. The landmark nature of the telecasts surely brought in more viewers than usual.
Stock futures were little changed Tuesday evening after a choppy day of trading during the regular session.
A federal judge has refused to put his stamp of approval on a letter to Northern California wildfire victims from attorneys who allege that Pacific Gas & Electric may be breaking its promises as it tries to preserve a plan for getting out of bankruptcy in an unraveling economy. The decision issued late Tuesday by Bankruptcy Judge Dennis Montali bolsters PG&E's efforts to hold together its plan. Montali rejected the request from the committee representing wildfire victims after listening to nearly two hours of sometimes acrimonious arguments during a hearing held earlier in the day.
Small business owners hoping for quick help from the government’s emergency $349 billion lending program were still waiting Tuesday amid reports of computer problems at the Small Business Administration. The SBA’s loan processing system stopped working Monday, making it impossible for loans to be approved and funds distributed, according to a trade group for community bankers and the CEO of an online lending marketplace. “We are getting thousands of applications but many of our members can’t get into the SBA’s system or there are additional holdups,” said Paul Merski at the Independent Community Bankers of America.
Stocks closed modestly lower Tuesday on Wall Street after a rally faded in the last few minutes of trading following a sudden drop in the price of crude oil. Major indexes ended slightly lower after being up more than 3% earlier. The market was coming off an even bigger gain of 7% the day before.
Levi Strauss & Co. LEVI on Tuesday reported fiscal first-quarter profit of $152.7 million. The San Francisco-based company said it had profit of 37 cents per share. Earnings, adjusted for one-time gains and costs, were 40 cents per share.
Exfo Inc. EXFO) on Tuesday reported a fiscal second-quarter loss of $9 million, after reporting a profit in the same period a year earlier. The Quebec City-based company said it had a loss of 16 cents per share.
Stocks erased earlier gains to close lower Tuesday as investors continued to assess new coronavirus cases and policymakers’ responses to the outbreak.
The maker of eye care products withrew its financial forecasts for this year and will delay a decision on paying a dividend until next year. The chipmaker said the impact from COVID-19 on its first-quarter results would be worse than it had forecast on March 2.