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Tuesday, March 3, 2020

Coronavirus live updates: WHO warns protective gear 'rapidly depleting' amid recession fears

Spain confirms first death, as new cases identified in Europe, Africa, and South America. Follow the latest news.


In Australia health officials say a health worker at an old people’s home in Sydney has been infected with the new coronavirus.

Brad Hazzard, New South Wales health minister, said the “much-loved” and longstanding member of staff at a residential care home has been confirmed as having the virus.

She had been working with 13 residents at Dorothy Henderson Lodge, which is part of Baptist Care in Macquarie Park.

Eleven of the residents have since been isolated. The other two residents presented with respiratory symptoms, Hazzard said at a media conference in Sydney, but it was not clear whether they had the virus. One of them, a 95-year-old woman, has died and the other is being tested.

One of those was a 95-year-old lady who has passed away. Now, whether or not it was related to corona, we don’t know at this point. And another resident who is being tested currently.

She was working on around about 24 February when she started to get those symptoms that I was just talking about – the sort of symptoms that we’re all very familiar with, with flu,” said Hazzard. “And so we did the checks. And, of course, we’re aware that it’s likely that she could have been capable of passing on the coronavirus from at least the day before, 24 hours, so that’s 23 February.

The reaction of Asia Pacific stocks – or lack of it – to the US Federal Reserve’s emergency rate cut means we’re in for another volatile day’s trading on the financial markets.
Shares in Sydney are down 1.7%, although in Tokyo, where trading has just started, the market is pretty flat at 0.6% and in Seoul the Kospi index is up 1.39%. However, futures trading points to a fall in Hong Kong later.

The Fed’s move out of its usual meeting schedule is extremely rare. The last time they did this was at the height of Lehman crisis in 2008. So the fact they’ve acted in such a way and for it to have so little impact is worrying. Fear is back, as Trinh Nguyen, senior economist at Natiixis bank in Hong Kong says:

Of course, the president is throwing the Fed under the bus even with a massive cut & he is clearly worried too that the expectations of worse earnings will feed through the economy + people’s fear of the virus’ll keep them from consuming & driving growth.

Fear is back today

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from World news | The Guardian https://ift.tt/32MzqAt

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