This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks.
- Global cases: More than 3.5 million
- Global deaths: More than 251,000
- Most cases reported: United States (over 1.18 million), Spain (over 218,000), Italy (over 211,900), United Kingdom (over 191,800), France (over 169,500)
The data above was compiled by Johns Hopkins University as of 12:32 p.m. Beijing time.
All times below are in Beijing time.
3:02 pm: What life might look like after lockdown
Some countries have started to reopen parts of their economies that were locked down to stem the spread of the coronavirus. CNBC’s Uptin Saiidi is in Hong Kong to look at what a new normal would look like.
2:57 pm: Hugo Boss says sales could fall by at least 50% in the second quarter
German fashion Hugo Boss said its overall sales in the second quarter could fall by at least 50% due to uncertainties brought about by the coronavirus pandemic.
That warning came after the company reported first-quarter sales of 555 million euros ($605.6 million) — a 17% decline from the same period a year ago after currency adjustments. That led to Hugo Boss registering a 14 million euros ($15.3 million) loss in operating profit in the first three months of 2020.
“HUGO BOSS expects both sales and earnings declines in the second quarter of 2020 to be more pronounced than those recorded in the first quarter,” the company said in a statement accompanying its first-quarter earnings release.
“This will mainly be a result of the continuing closures of the Group’s own stores as well as points-of sale at important partners in Europe and the Americas. Overall, these two regions combined usually contribute around 85% to Group sales,” it added. — Yen Nee Lee
2:12 pm: Indonesia’s economy grew at the weakest space since 2001
Indonesia’s economy grew 2.97% year over year in the first quarter — the weakest growth rate since the first three months of 2001, reported Reuters, citing data by the country’s statistics bureau.
A Reuters poll of analysts had a median forecast of 4.04% growth, according to the report. Various segments of the Indonesian economy were hit by the coronavirus pandemic, including consumption, investment, tourism and commodity exports, the report said.
A man walks past a mural depicting the COVID-19 coronavirus in Bangkalan, east Java on April 6, 2020.
Juni Kriswanto | AFP | Getty Images
But the largest economy in Southeast Asia held up better than many others in the first quarter, partly because it locked down later than most, Gareth Leather, senior Asia economist at Capital Economics, wrote in a note.
“In most of Asia lockdowns … happened in late March. In Indonesia it wasn’t until April,” he wrote. “Of course, this means that the economy will experience a bigger hit in the second quarter.”
Indonesia did not report its first case of the coronavirus disease until March — a development that surprised many given the country’s extensive air links with China and the city of Wuhan, where the virus first emerged. As of Monday, the country has reported 11,587 cases and 864 deaths. — Yen Nee Lee
12:24 pm: Hong Kong shares shrug off steep first quarter contraction
Hong Kong’s main Hang Seng index traded up 0.54% on Tuesday, a day after the city revealed that its economy contracted 8.9% compared to a year ago, marking its largest decline on record since 1974. It comes as Hong Kong faces economic challenges posed by both the coronavirus outbreak, as well as months of widespread protests.
The virus has infected more than 1,000 people in Hong Kong and killed four.— Saheli Roy Choudhury
12:10 pm: Millions of Italians return to work starting this week
Millions of people in Italy were allowed to return to work starting Monday as the country took the first steps to lift the lockdown, the Associated Press reported.
Construction and manufacturing activities re-opened while retail businesses will still have to wait for a few more days. Bars and restaurants are re-opening for takeout services while people can now visit relatives in small numbers. Italy reported more than 211,900 cases of infection and more than 29,000 people have died.
It’s not just Italy that’s begun to ease restrictions, other European countries are also doing the same. — Saheli Roy Choudhury, Silvia Amaro
11:02 am: Five tips to consider if you’re planning a career switch right now
Changing jobs in the middle of a global pandemic can be a bold move.
Herminia Ibarra, a London Business School professor and author of “Act like a leader, think like a leader,” outlined five considerations for those thinking about career moves, which includes reconnecting with old contacts. — Karen Gilchrist
10:49 am: Germany reports 685 new cases and 139 additional deaths
Germany reported 685 new cases and 139 more deaths, according to the latest numbers from the Robert Koch Institute, the federal government agency responsible for disease control and prevention.
There have been 163,860 confirmed cases and 6,831 deaths in total. But, a new study claims the actual number of cases could be ten times higher, to the tune of 1.8 million infections. — Saheli Roy Choudhury
9:53 am: Apple will re-open stores in Australia this week
Apple confirmed that it will re-open its stores in Australia on Thursday. Stores will operate from 10 a.m. to 5 p.m. local time and service at the Genius Bar — Apple’s tech support station — will be prioritized. Appointments can be booked online starting Tuesday.
Because of social distancing measures, Apple will limit the number of people inside the stores at one time and there could be delays for walk-in visitors. There will also be temperature screenings prior to entry. The Sydney store will remain closed for an upgrade.
“We’re excited to begin welcoming visitors back to our Australia stores later this week. We’ve missed our customers and look forward to offering our support,” an Apple spokesperson said in a statement. — Saheli Roy Choudhury
9:05 am: Containment efforts cost Australia’s economy $2.6 billion per week
Australia’s efforts to contain the coronavirus are expected to cost the economy 4 billion Australian dollars ($2.6 billion) a week, according to excerpts of Treasurer Josh Frydenberg’s prepared remarks reported by Reuters. Frydenberg is scheduled to speak at the National Press Club of Australia later Tuesday.
Like many other countries, Australia has implemented movement restrictions and distancing measures to limit the spread of the coronavirus. But those protocols have dampened economic activity.
Australia has reported 6,825 confirmed cases and 95 deaths from Covid-19, as of Monday. — Christine Wang
8:46 am: Officials weigh potential human toll of reopening economies
7:52 am: China reports a single new confirmed case, 15 asymptomatic cases
China’s National Health Commission said there was one new confirmed case of infection and attributed it to a traveler from overseas. No new deaths were reported but there were 15 asymptomatic cases.
Cumulatively, China has reported 82,881 confirmed cases and 4,633 deaths.
Travelers walk to the exit of the Hankou Railway Station in Wuhan in central China’s Hubei province Wednesday, April 08, 2020, after 76 days of lockdown of the city due to Covid-19.
Barcroft Media | Getty Images
There is growing international pressure on Beijing to answer queries about the information it gave the world about the virus outbreak. — Saheli Roy Choudhury
7:48 am: Global death toll exceeds 251,000
More than 251,000 people around the world have died from Covid-19, the disease caused by the coronavirus, according to data from Johns Hopkins University.
The virus was first reported in China’s Hubei province late last year and has rapidly spread around the world since then, infecting more than 3.5 million people.
The United States has the highest number of cases — over 1.17 million people have been affected and more than 68,000 have died.
Countries like Spain, Italy, the United Kingdom, France and Germany are also among some of the worst-affected nations. — Saheli Roy Choudhury
All times below are in Eastern time.
7:02 pm: New projection shows about 135,000 US deaths from Covid-19 by August with lockdown measures being lifted
The Institute for Health Metrics and Evaluation (IHME) estimates nearly 135,000 coronavirus deaths in the US through the beginning of August, citing the easing of lockdown orders as the main driver of the new number, Reuters reports.
The forecast from the IHME puts the U.S. death toll through early August at 134,475, the midrange between 95,092 and 242,890.
People receive protective masks and bandannas as they are handed out in Prospect Park as face coverings become mandatory in many establishments on May 03, 2020 in the Brooklyn borough of New York City.
Spencer Platt | Getty Images
The new projections reflect reopening measures underway across the country and the increase of social contact between people that will increase transmission, the IHME said, according to Reuters.
“This new model is the basis for the sobering new estimate of U.S. deaths,” IHME Director Christopher Murray said about the reopening measures, Reuters reported. — Chris Eudaily
5:12 pm: Economists say the way out of the recession depends on the level of consumer fear
Economists are looking for new ways to measure a rebound from a deep recession, suggesting that the recovery will depend on individual psychology, overall consumer confidence, and also whether the government was successful enough in filling the income gap for the workers who lost their jobs.
“It’s much more behavioral. It’s not just driven by incomes. It’s driven by fear,” said Diane Swonk, chief economist at Grant Thornton. Economists have been looking to China as an example, since the disease started there. “Even a month after they reopened in Wuhan, people are still worried about going to public places and malls.” — Patti Domm
Read CNBC’s coverage from the U.S. overnight: Projection estimates 135,000 US deaths by August; testing expanded for Fujifilm flu drug
