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08/04/20 COVID-19 Global News Update

08 April 2020

Overview of the latest developments on Coronavirus (COVID-19).

Global Business/Economy

Amsterdam to embrace 'doughnut' model to mend post-coronavirus economy

Apr 8th, 2020viaThe Guardian Australia World News

A doughnut cooked up in Oxford will guide Amsterdam out of the economic mess left by the coronavirus pandemic.

Coronavirus: Twitter boss pledges $1bn for relief effort

Apr 7th, 2020viaBBC - Front Page

Jack Dorsey, the founder of Twitter and payment app Square, has said he will donate $1bn (£810m) towards efforts to tackle the coronavirus pandemic.

Covid-19 expected to wipe out 6.7% of world's working hours

Apr 7th, 2020viaThe Guardian - Economics

The disruption to the world’s economies caused by the Covid-19 pandemic is expected to wipe out 6.7% of working hours globally in the second quarter of this year – the equivalent of 195 million jobs worldwide, according the UN’s labour body.

Small US businesses were already struggling. Then coronavirus hit

Apr 7th, 2020viaReuters UK - Financial Services News

(Reuters) - Many small businesses were struggling with funding shortfalls and financial challenges even before the coronavirus pandemic hit, leaving them with little cash on hand to weather the slowdown caused by the virus, according to data released by the Federal Reserve on Tuesday.

Japan to sell record extra bonds to fund coronavirus stimulus

Apr 7th, 2020viaReuters UK - Business News

TOKYO (Reuters) - Japan will sell a record amount of extra bonds this fiscal year, worth more than $165 billion, straining the industrial world’s heaviest debt burden, as Tokyo compiles a record stimulus to combat the coronavirus.

EU ministers hope to agree to half a trillion euro coronavirus rescue

Apr 7th, 2020viaReuters UK - Business News

BRUSSELS (Reuters) - Euro zone finance ministers hope to agree on Tuesday on half a trillion euros worth of economic aid to finance recovery from the coronavirus

UK Business/Economy

Coronavirus: Tesco could take £925m hit on extra staff and delivery costs

Apr 8th, 2020viaCity AM - News

Tesco warned it could take a hit of up to £925m due to the impact of hiring extra staff and ramping up distribution due to the coronavirus outbreak.

Direct Line pulls dividend amid coronavirus uncertainty

Apr 8th, 2020viaReuters UK - Financial Services News

April 8 (Reuters) - Direct Line decided not to pay its final 2019 dividend on Wednesday and said it would make no changes to staffing until at least the autumn as it weighs the damage the coronavirus shutdowns has had on the insurance industry.

Coronavirus: 'Eight out of 10 firms to furlough staff over next week'

Apr 8th, 2020viaBBC News - UK

Almost 80% of businesses surveyed by the NI Chamber of Commerce plan to furlough some employees over the next week.

Coronavirus in Scotland: Warning over economic impact of lockdown

Apr 7th, 2020viaBBC - Scotland

The Scottish economy could contract by up to a quarter if the current lockdown restrictions continue for a three-month period, according to economists.

Firms struggling to access coronavirus loan scheme, says BCC

Apr 7th, 2020viaCity AM - Business

Almost two-thirds of British businesses do not have enough cash to last three months as firms continue to struggle to access the government’s coronavirus loan scheme.

Coronavirus loan scheme risks ‘wall of redundancies and defaults’ say critics

Apr 7th, 2020viaCity AM - Business

The failure of the coronavirus loan programme to help struggling small and medium-sized businesses risks triggering a “wall of redundancies and defaults” say critics.

Coronavirus: Holland & Barrett keep stores open despite staff pleas

Apr 7th, 2020viaBBC - Front Page

Holland & Barrett has kept its shops open during the coronavirus crisis, but staff are campaigning for them to shut arguing their health is at risk.

English clubs who have furloughed staff due to coronavirus

Apr 7th, 2020viaReuters UK - UK Sports News

(Reuters) - Following is a list of English clubs that have furloughed staff after professional football in the country was suspended due to the coronavirus outbreak.

Coronavirus: Bet365 boss Denise Coates donates £10m to NHS trust

Apr 7th, 2020viaBBC News - Stoke & Staffordshire

The chief executive of Bet365 has donated £10m to an NHS trust to support staff fighting coronavirus.

UK Day-to-Day Impact

Coronavirus: Boris Johnson spends second night in intensive care

Apr 7th, 2020viaBBC - Front Page

Boris Johnson is spending a second night in intensive care as he continues to receive treatment for coronavirus.

First patients arrive at London's new coronavirus hospital

Apr 7th, 2020viaReuters UK - Health News

LONDON (Reuters) - The first patients have been admitted to the new Nightingale Hospital in London, which has been set up in just nine days at the Excel Exhibition Centre to handle the coronavirus crisis.

Dominic Raab insists government will deliver 100,000 coronavirus tests a day, despite series of setbacks

Apr 7th, 2020viaThe Independent - News

The foreign secretary also declined to say how the government planned to meet the commitment.

Global Situation

Hong Kong extends social distancing restrictions to contain coronavirus

Apr 8th, 2020viaReuters UK - World News

HONG KONG (Reuters) - Hong Kong said on Wednesday social-distancing restrictions including the closure of some bars and pubs and a ban on public gatherings of more than four people would be extended until April 23 as it battles to halt the spread of coronavirus.

Germany launches smartwatch app to monitor coronavirus spread

Apr 7th, 2020viaReuters UK - Business News

BERLIN (Reuters) - Germany’s public health authority launched a smartwatch app on Tuesday in partnership with healthtech startup Thryve to help monitor the spread of COVID-19 and analyse whether measures to contain the novel coronavirus pandemic are working.

Coronavirus warship row: Acting US Navy secretary resigns

Apr 7th, 2020viaBBC - Front Page

The acting secretary of the US Navy has resigned amid uproar over his handling of a coronavirus outbreak on an aircraft carrier.

U.S. DEA relaxes production limits on controlled drugs for COVID-19 patients

Apr 7th, 2020viaReuters UK - Health News

(Reuters) - The U.S. Drug Enforcement Administration said on Tuesday it was increasing production limits by 15% for certain controlled substance medicines that were in high demand due to the COVID-19 pandemic.

Global health fund calls for $8 billion to begin COVID-19 exit strategy

Apr 7th, 2020viaReuters UK - Business News

LONDON (Reuters) - A leading global health fund has asked international businesses and governments to provide $8 billion (6.49 billion pounds) to support development and production of COVID-19 tests, drugs and vaccines.

Coronavirus: Wuhan outbound travel ban lifted

Apr 7th, 2020viaBBC - Front Page

The months-long lockdown in the city of Wuhan in China's Hubei province - where the coronavirus pandemic started - has been lifted.

Coronavirus: Major League Baseball could be first professional sport to return as soon as May

Apr 7th, 2020viaThe Independent - News

America's pastime could be the first professional sport to resume in the US under a reported plan that would see Major League Baseball games played in empty stadiums as early as May.

Legal Developments

Coronavirus: Irish police get powers to enforce Covid-19 rules

Apr 7th, 2020viaBBC World - Northern Ireland

Gardaí (Irish police) have been granted powers to enforce restrictions on public life in order to prevent the spread of coronavirus. Health Minister Simon Harris has signed regulations which will enable officers to enforce the rules.

Official Guidance/Reports

Detailed guide: Social distancing in the workplace during coronavirus (COVID-19): sector guidance

Apr 7th, 2020viaDepartment for Business, Energy & Industrial Strategy (gov.uk) - All Content

Advice for employers on social distancing during coronavirus (COVID-19).

Coronavirus (COVID-19) guidance for the charity sector

Apr 7th, 2020viaCharity Commission (gov.uk) - Publications

Guidance to help with running your charity during the coronavirus (COVID-19) outbreak.

To read more from DWF on COVID-19 visit our insights hub >

Further Reading