23/03/20 COVID-19 Global News Update

A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market’s wild swings subside.

Global financial markets are set for another turbulent week as more countries take action to slow the spread of the coronavirus. Stock markets across the Asia-Pacific region fell sharply on Monday, while Wall Street is seen opening sharply lower.

Ireland will introduce a significant financial package next week for those who have lost their jobs due to coronavirus-related disruption and others at risk of becoming unemployed, Deputy Prime Minister Simon Coveney said on Sunday.

The London Stock Exchange Group is lobbying for companies to be allowed to hold remote annual general meetings during the coronavirus pandemic.

Finance ministers from the Group of 20 major economies are to meet by teleconference on Monday, according to the published agenda of French finance chief Bruno Le Maire.

Deal advisers say they fear the coronavirus crisis could stop M&A in its tracks in the UK, but predict a wave of distressed deals in the coming weeks as struggling businesses are picked up and companies band together to try and ride out the economic shutdown.

The Financial Conduct Authority (FCA) said: “The unprecedented events of the last couple of weeks mean that the basis on which companies are reporting and planning is changing rapidly.”

The lockdown affecting large segments of the American public to try to curb the spread of the coronavirus is likely to last 10 to 12 weeks, or until early June, U.S. Treasury Secretary Steven Mnuchin said on Sunday.

The European Commission said on Sunday it had approved two state aid schemes to support the German economy amid the coronavirus epidemic.

Australian Prime Minister Scott Morrison on Sunday ordered many venues, including pubs, casinos, gyms and cinemas, to close from midday Monday to combat coronavirus after many people appeared to disregard health warnings and congregated in large numbers in recent days.

The Spanish government wants to extend for another 15 days a 15-day state of emergency that it imposed this month to try to curb the spreading coronavirus outbreak, multiple Spanish media outlets reported on Sunday.

Australia’s government will inject A$66.4 billion ($38.50 billion) into the economy as part of a second stimulus package to shelter the country from the financial impact of the coronavirus, Prime Minister Scott Morrison said on Sunday.

The global economy is already in a recession as the hit to economic activity from the coronavirus pandemic has become more widespread, according to economists polled by Reuters amid a raft of central bank stimulus actions this week.

Germany is readying an emergency budget worth more than 150 billion euros (137 billion pounds) to shore up jobs and businesses at risk from the economic impact of the coronavirus outbreak, the finance minister said on Saturday.

The European Commission said on Saturday it had approved three French state aid schemes to support the French economy amid the coronavirus epidemic that would mobilise 300 billion euros (275.2 billion pounds) of liquidity support for affected companies.

The Department of Transport is taking emergency measures to help the rail network survive a 70 per cent drop in passenger numbers as coronavirus prevents travel across the UK.

Northern Ireland's health service is to access all hospital beds across the private sector. In documents seen by BBC News NI the health board proposes to contract the use of the hospital sites for a period of "not less than 3 months".

Public transport is to operate on a reduced scale throughout Wales because of the coronavirus pandemic. New timetables are now in place for trains and buses until further notice.

The UK’s airlines are hopeful that the government will unveil its special package of measures to combat the financial impact of the coronavirus outbreak in the coming days as they struggle to remain airborne due to the slump in air travel. ..

The Chancellor Rishi Sunak announced an unprecedented package of measures on Friday to support businesses and employers coping with the economic shock of coronavirus.

Deliveries, discounts, even a self-isolation cheese and wine kit. The sector is delivering a masterclass in adaptability Financially, it is a sticking plaster.

The first minister has warned she will use emergency legislation to close pubs that ignore advice to shut in the wake of the coronvirus outbreak. Nicola Sturgeon said the vast majority were complying with the advice, but those that did not were putting lives at risk.

Seldom has a British government’s budget been rendered so out of date and so irrelevant as Rishi Sunak’s first.

Britain’s government will pay businesses hit by the coronavirus outbreak not to lay off workers, as part of what Chancellor of the Exchequer Rishi Sunak said would be an unprecedented economic intervention.

Ford (F.N) will bring forward part of the summer shutdown for its British engine plants to Easter due to the coronavirus outbreak. Ford will temporarily stop production from Mar. 23 at its London site and from the end of Mar 25 at its Welsh facility.

Pride in London is the latest event to be postponed during the coronavirus outbreak. It is the UK's biggest LGBT pride festival, Organisers estimate the 2019 parade was attended by more than 1.5 million people. More than 100 Pride events have now been cancelled or postponed.

Britain may need to impose curfews and travel restrictions to halt the spread of the coronavirus if people do not heed the government’s advice on social distancing, Prime Minister Boris Johnson warned on Sunday.

The prime minister has urged people to follow the measures taken by the government to protect the vulnerable.

Failure to protect the most vulnerable inmates in the UK prison system from coronavirus could result in more than 800 deaths, experts have warned.

Second-home owners and caravanners have been warned they could face action by ignoring advice not to travel unnecessarily. Travel is one of many restrictions in place since the coronavirus outbreak.

There is no set limit to the number of key workers' children that schools can admit as long as it is safe. That is according to guidance issued to schools in Northern Ireland by the Department of Education (DE).

South Korea has reported the lowest number of new coronavirus cases since infection rates peaked four weeks ago, fuelling hope Asia's worst outbreak outside China may be abating. The country recorded 64 new cases of Covid-19 in the last 24 hours, taking the total to 8,961 with 111 deaths.

If you want to get this briefing by email, sign up here UK outbreak latest The UK appeared to be split in two over the weekend - between those observing social distancing advice and those flouting it.

Taiwan’s government announced 26 new cases of coronavirus on Monday, bringing the total number to 195.

A decade of bumper profits hasn’t cushioned the US airline industry from the coronavirus pandemic. Analysts are predicting many face bankruptcy in the coming months unless the government steps in. Right now, it’s their workers who are feeling the full force of the industry’s crisis – and they are terrified.

Wuhan, the centre of the coronavirus outbreak in China, has begun to loosen its two-month lockdown on citizens as more countries issued new restrictions to contain the pandemic.

Australians began living under strict new lockdown rules on Monday as coronavirus cases topped 1,600 and authorities denied entry to a cruise ship carrying hundreds on board complaining of respiratory illnesses.

New Zealand said on Monday it will move to its highest alert level imposing self-isolation, with all-non-essential services, schools and offices to be shut over the next 48 hours as the number of coronavirus cases more than double.

More countries imposed lockdown measures as coronavirus cases across the globe ballooned, led by a sharp rise in infections in Europe.

Communist-run Cuba said it dispatched a brigade of doctors and nurses to Italy for the first time this weekend to help in the fight against the novel coronavirus at the request of the worst-affected region Lombardy.

The Spanish government sought on Sunday to extend until April 11 a state of emergency that it has imposed to try to control Europe’s second-worst outbreak of coronavirus. The death toll jumped to over 1,700, with more than 28,000 cases of infection.

Angela Merkel has gone into quarantine after being informed that a doctor who administered a vaccine to her has tested positive for coronavirus.

The Russian military will start sending medical help to Italy from Sunday to help it to battle the coronavirus after receiving an order from Vladimir Putin, Russia's Defence Ministry said in a statement.

Countries can’t simply lock down their societies to defeat coronavirus, the World Health Organization’s top emergency expert said on Sunday, adding that public health measures are needed to avoid a resurgence of the virus later on.

The Romanian government confirmed on Sunday the first death in the country due to coronavirus. The deceased was a 67-year-old man who had been suffering from terminal cancer.

The Italian region of Lombardy has introduced stricter measures in a bid to tackle the spread of coronavirus. Under the new rules announced late on Saturday, sport and physical activity outside, even individually, is banned.

Qatar said it would deploy mobile patrols and set up checkpoints after enacting a ban on Saturday on all gatherings to contain the spread of the coronavirus.

The Prime Minister is hoping to rush sweeping new coronavirus legislation through the House of Commons, as the country faces the prospect of a lockdown. MPs will return to the Commons today to debate the government’s emergency coronavirus bill, which was set out last week.

All jury trials have been suspended in England and Wales as part of ongoing efforts to stop the spread of Covid-19.

The government announced on Sunday which legal practitioners will be classified as ’key workers’ during the coronavirus crisis - enabling some lawyers to send their children to school where absolutely necessary.

We're supporting train operators to make sure our railways stay open for key workers during the coronavirus outbreak.

These regulations require businesses selling food or drink to consume on the premises, and some others, to close, to protect public health.

Guidance and advice to avoid non-essential travel in the UK.

What schools will need to do during the coronavirus (COVID-19) outbreak.

Prime Minister Boris Johnson made a statement on coronavirus.

To help businesses and employers understand what the measures announced by the Chancellor mean for you, please use this page to navigate the latest guidance for people in Northern Ireland.