Coronavirus: Spain death toll soars past 1,000

MADRID (AFP) – The coronavirus toll in Spain rose to 1,002 on Friday (March 20) following the deaths of 235 people in the past 24 hours, the Health Ministry said.

The number of cases also soared to 19,980, after another 2,833 infections were confirmed over the same period, the ministry’s emergencies coordinator Fernando Simon said.

South African Airways suspends intercontinental flights until May 31

JOHANNESBURG, March 20 (Reuters) – South African Airways (SAA) said on Friday that it would immediately suspend all intercontinental flights until May 31 in response to a government travel ban aimed at stopping the spread of the coronavirus outbreak.

SAA flies to the United States, Britain, Germany, Australia and Brazil on its intercontinental routes. SAA said earlier this week that it had cancelled 162 international and regional flights until the end of this month due to low demand and restrictions linked to coronavirus. (Reporting by Alexander Winning; editing by Olivia Kumwenda-Mtambo)

Australian tourism operators silenced for opposing Adani mine

Scientists blame fossil fuels for rising ocean temperatures that have already damaged the Great Barrier Reef.

Tourism operators in Australia say they are being silenced for opposing a new coal mine in the state of Queensland.

The government approved the Indian-owned Adani mine last year, despite warnings about its impact on the already damaged Great Barrier Reef.

Al Jazeera’s Alexi O’Brien reports from the Whitsunday Islands, Australia.

Kingston businesses adapting to change during COVID-19 pandemic

Businesses that have been able to remain open during the COVID-19 pandemic have had to change the way they go about their business.

James’ valu-mart in Kingston’s east end has followed suit with stores in larger centres and now opens at 7a.m. to provide a safer environment for seniors and people that may be more susceptible to the disease.

Norway's economy set to shrink by 1% in 2020 amid virus outbreak

OSLO, March 20 (Reuters) – The Norwegian economy could shrink by 1% in 2020 due to the coronavirus outbreak, even as massive economic stimulus is pumped into companies and households, the government predicted on Friday.

In its original budget, released late last year, the finance ministry had predicted growth of 2.5%.

The government has proposed a range of measures to mitigate the crisis, amounting to some 280 billion crowns ($25.71 billion), it said. ($1 = 10.8909 Norwegian crowns) (Reporting by Terje Solsvik, editing by Gwladys Fouche)

RPM Int’l Sees Q3 Results At Higher End Of Prior Outlook

RPM International Inc. (RPM) said it expects its results for its third quarter ended February 29, 2020, to be at the higher end of its prior guidance.

Previously, the company expected revenue for the fiscal third quarter to be up 2.5% to 4%, adjusted EBIT growth in the 25% to 30% range, and adjusted earnings per share in the high-teens to low-20-cent range.

The company noted today that the positive momentum of the 2020 MAP to growth operating improvement plan contributed to good earnings leverage in the third quarter.

Pubs, restaurants, gyms and cinemas 'to be ordered to close in London'

Pubs, restaurants, gyms and cinemas across London will be ordered to close as part of the capital’s efforts to contain the coronavirus outbreak, it has been reported.

The drastic measures are set to be announced by Boris Johnson later this afternoon at his daily news conference.

The capital has, so far, been hardest hit by the Covid-19 outbreak and the move is a massive ramping up of social distancing measures.

Until now, Mr Johnson had only advised Britons to avoid pubs and other social gatherings.

This story is breaking and will be updated.

Trump Administration Asks States To Bury Unemployment Claim Figures

The Trump administration’s Labor Department sent an email to state officials this week asking them to report new unemployment claims only in “generalities” to avoid spooking financial markets, The New York Times reported.

The email on Wednesday asked state labor authorities to only “provide information using generalities to describe claims levels (very high, large increase)” until the Labor Department releases the total number of national claims next Thursday.

 “States should not provide numeric values to the public,” Gay Gilbert, the administrator of the department’s Office of Employment Insurance, wrote in the email shared with the Times. The message noted that the figures are closely tracked by financial markets judging the strength of the economy.

Unemployment claims have been skyrocketing as thousands are laid off from jobs amid the spread of coronavirus. Treasury Secretary Steve Mnuchin reportedly warned senators that unemployment during the pandemic could hit 20% without a financial rescue package.

Georgia did not release exact figures. State Labor Department spokeswoman Kersha Cartwright told the Atlanta Journal-Constitution the state was not yet ready to reveal specific numbers — though she did not mention the memo.

New claims were so numerous that the state’s unemployment website was clogged, said Cartwright, adding: “We are seeing as many claims filed in a day as we usually see in a week.”

Gold Prices Rise 2% On Safe-haven Demand

Gold prices rallied on Friday and the dollar paused its relentless march as the
precious metal regained some of its safe-haven appeal amid fears over the economic hit from the coronavirus.

California’s 40 million people remain under lockdown today in the most drastic quarantine efforts by a U.S. state to contain the fast-spreading coronavirus, as the global toll surged with Italy surpassing China as the country with the most deaths from the pandemic.

Spot gold rallied 2.2 percent to $1,504.87 after having fallen 1 percent in the previous session. U.S. gold futures were up 1.9 percent at $1,507.50.

The dollar weakened against other major currencies as China reported zero new domestic coronavirus cases for the second day and massive relief packages announced by global central banks and governments helped to ease fears of an impending coronavirus-induced recession.

The U.S. Federal Reserve said it would establish temporary swap lines with other nine central banks as part of coordinated action to improve liquidity in the financial markets.

In a joint statement, the Fed said it will extend U.S. dollar liquidity arrangements with the Reserve Bank of Australia, the Banco Central do Brasil, the Danmarks Nationalbank, the Bank of Korea, the Banco de Mexico, the Norges Bank, the Reserve Bank of New Zealand, the Monetary Authority of Singapore, and the Sveriges Riksbank.