Facebook says employees can work at home until year end

Facebook said on Friday it would allow its workers who are able to work remotely to do so until the end of the year as the coronavirus pandemic forces governments to extend stay-at-home orders to curb the spread of the disease.

The social media giant also expects most offices to stay closed until July 6, according to a company spokesperson.

The virus, which has infected more than 3.8 million people globally so far, has forced strict lockdowns in most countries and changed the way businesses function, with work from home emerging as the new norm.

Nova Scotia coasts to experience large waves, pounding surf Saturday

The coasts of Nova Scotia will see large waves and pounding surf on Saturday night.

Environment Canada says an intensifying low-pressure system will pass north of Nova Scotia on Saturday.

As a result, storm surge combined with waves will approach the Atlantic coast of the province from the southwest.

Environment Canada says the storm surge is expected to last from 7:00 p.m. AT to 11:00 p.m. AT.

European Economics Preview: Eurozone Final Factory PMI Data Due

Final Purchasing Managers’ survey and investor confidence from euro area are due on Monday, headlining a busy day for the European economic news.

At 3.00 am ET, consumer and producer prices and manufacturing PMI figures are due from Turkey. Inflation is forecast to slow to 10.88 percent in April from 11.86 percent in March.

In the meantime, manufacturing PMI results are due from Poland and Hungary.

At 3.15 am ET, IHS Markit publishes Spain’s factory PMI data. Economists forecast the index to fall to 34.0 in April from 45.7 in March.

At 3.45 am ET, Italy’s manufacturing PMI results are due. The factory PMI is seen at 30.0 in April versus 40.3 in March.

Thereafter, final PMI survey results are due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 4.00 am ET, Eurozone manufacturing PMI data is due. The final reading is seen at 33.6 in April, unchanged from flash estimate and down from 44.5 in March.

Half an hour later, Eurozone Sentix investor confidence survey data is due. Economists forecast the index to rise to -33.5 in May from -42.9 in April.

China reports one new coronavirus case, 15 asymptomatic cases

BEIJING (REUTERS) – China reported one new coronavirus case for May 8, unchanged from the day before, data from the national health authority showed on Saturday (May 9).

One new imported case was recorded on May 8, the National Health Commission said in a statement.

The commission also reported 15 new asymptomatic cases for Friday, versus 16 the previous day.

China’s total number of coronavirus cases now stands at 82,887, while the death toll from Covid-19, the disease it causes, remained unchanged at 4,633, the national health authority said.

U.S. Tightens Visa Rules for Chinese Media in Journalists Spat

The U.S. government tightened visa rules for Chinese journalists on Friday in the latest retaliatory measure in an ongoing spat between the two countries over media access.

The regulation will limit visas for Chinese journalists to a 90-day period, while allowing them to apply for extensions, according to a statement from the Department of Homeland Security. Previously, the reporters were permitted to stay for an indefinite period.

Relations have deteriorated between the two countries since the coronavirus outbreak spread through the U.S. While exchanging barbs over the handling of the virus, the U.S. and China have been involved in a tit-for-tat involving visiting journalists from the respective nations.

In February, the U.S. designated five Chinese media companies as “foreign missions” while Beijing revoked the press credentials of three Wall Street Journal reporters, ostensibly to retaliate for an op-ed that called China the “real sick man of Asia.”

The U.S. in turn ordered four Chinese state-owned news outlets to slash the number of staff they had working in the U.S. China responded by expelling more than a dozen U.S. journalists from three American newspapers, and also asked five U.S. media outlets to submit detailed personnel and asset information to the government.

— With assistance by Sharon Chen, and Miao Han

N. Korea Completes Building New ICBM Missiles, Dong-A Ilbo Says

North Korea has constructed several new intercontinental ballistic missiles, according to South Korean newspaper Dong-A Ilbo.

U.S. authorities have detected the assembly and completion of ICBMs at an automobile plant in South Pyongan province, where North Korea launched ballistic missiles in 2017, the newspaper reported, citing an unidentified U.S. government official. They also observed the presence of “transporter erector launchers,” the paper said.

The official told the newspaper that the U.S. is keeping an eye on future developments, and exploring multiple possibilities such as the test-firing of an ICBM, or a military parade as a show of force.

Pyongyang may attempt provocations before July, according to the newspaper. In a North Korean media report on Jan. 1, leader Kim Jong Un declared he would soon debut a “new strategic weapon,” adding to President Donald Trump’s foreign policy concerns in an election year.

Argentina Extends Coronavirus Lockdown Until May 24

Argentina will extend it nationwide coronavirus lockdown until May 24, President Alberto Fernandez announced Friday night.

The decision means South America’s second-largest nation will spend at least two months in quarantine, one of the strictest approaches in the region.

“I’m going to take care of the people before anything else,” the presidnet said in a news conference at the presidential palace in Buenos Aires. “We’re achieviing the objectives but we haven’t won the battle yet”

As of Friday, Argentina had 5,371 confirmed cases and 285 deaths, a considerably lower rate than neighboring Brazil, which has seen deaths by the hundreds in recent days. Fernandez implemented the lockdown on March 20 and has acknowledged there will be economic consequences. Argentina’s economy will shrink 7% this year after contracting in 2018 and 2019, according to the central bank’s monthly survey published Friday.

Argentina’s lockdown will now overlap with a key deadline in the government’s debt restructuring. If the government doesn’t reach an agreement with bondholders to restructure $65 billion in debt by May 22, Argentina will default. The government’s current offer to bondholders expired Friday and Economy Minister Martin Guzman is expected to announce next steps in a press conference Saturday.