Still in Australia, where Treasurer Josh Frydenberg is addressing the media. Asked about the concerns casual workers have over disruptions caused by the coronavirus outbreak, he says:
I’m very conscious that Australians in employment, be it casual or permanent, will be concerned about their job security. This is obviously an issue that will be raised at tomorrow’s meeting between the Minister for Industrial Relations and the peak employee and employer groups. Our focus is on getting a cooperative workplace. Our focus is ensuring that businesses are flexible, given the stresses and the strains that we will see as a result of the spread of the coronavirus.
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The ASX – is now down 5.8%.
Australian treasurer Josh Frydenberg says, “Australia is well prepared, economically, and we go into this challenge from a position of strength.”
Asked about today’s ASX tumble, Frydenberg says, “ This is a very different situation to what we saw through the GFC , which was essentially, a problem with the banking and the financial system and issues of liquidity. We haven’t seen those same problems in relation to this health crisis. ”
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Australian treasurer Josh Frydenberg says the economic impact of Coronavirus is “very significant”.
We’ve seen disruptions to international supply chains. We’ve seen a hit on particular sectors, including the tourism sector, agriculture sector, seafood sector and education sector. We’ve already seen the Reserve Bank adjust interest rates downwards and the major banks pass those rate cuts on in full.
Still in Australia for the moment, the ABC’s state political reporter in Perth Jacob Kagi said in a tweet that the fifth case in Western Australia contracted the virus from her husband, who had recently returned from Iran.
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A fifth case (of Covid – has been confirmed in Western Australia, the ABC reports.
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Victorian Health Minister Jenny Mikakos. Photograph: James Ross / AAP In Australia, “as far as prioritizing our testing capacity in coming weeks, the state government will be prioritizing testing for health care workers,” says health minister Jenny Mikakos .: (Three new cases in Victoria)
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Victorian health minister Jenny Mikakos is briefing the media on the latest cases in the state. Asked whether she would like to apologise for her use of the word “flabbergasted” referring to the story of a doctor who presented to work last week with symptoms, she says:
“Look, I needed to stress – and I will continue the stress the fact – we need to be alive to the facts. This is a public health emergency of an unprecedented nature that our nation and that the entire global community is facing. ”
In Australia, Victoria health minister Jenny Mikakos says, “ We’ve increased in Victoria, the biggest jump we have had so far. Three additional cases just today. A big jump from (to
cases in the last three days.
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In Australia, Victoria health minister Jenny Mikakos is asked whether she wishes to apologise to Chris Higgins, the doctor who presented to work despite having flu-like symptoms and was later diagnosed as having Covid – .
She responds by thanking all health care workers for their work.
“We will not make any apology for the fact that we will always prioritize public health,” she adds.
There are three additional cases today in Victoria.
Updated (at 8.) (ED EDT)
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Victoria health minister Jenny Mikakos
She is issuing a reminder to health care practitioners to not come to work if they are showing any symptoms and to stay away until those symptoms have completely gone away.
In Australia, Victoria health minister Jenny Mikakos is giving a press conference. In this emergency, “We cannot operate on fear or favor,” she says.
(Stocks fall in Japan, South Korea)Martin Farrer
US government bond yields have also sunk to new lows this morning, a sign of negative negative outlook on the global economy as investors take money out of risky assets such as shares and commodities (oil, for example) and put it into rock solid investments with a guaranteed return. Others safe havens such as the Japanese yen and gold have also risen in value.
David Ingles (@ DavidInglesTV) BOOM. US (YY plunges to 0.) % at the open in Japan
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