Coronavirus live updates: Wuhan eases lockdown, China reports 62 new cases and 2 deaths – CNBC, CNBC

Coronavirus live updates: Wuhan eases lockdown, China reports 62 new cases and 2 deaths – CNBC, CNBC

This is a live blog. Please check back for updates.

The data above was compiled by Johns Hopkins University as of 7 a.m. Beijing time. All times below are in Beijing time. (4: 47 pm: Germany’s economy probably shrank by 9.8% in the second quarter

(Germany) economy probably shrank by 9.8% in the second quarter, its biggest decline since records began in ,

Germany’s leading institutes said on Wednesday .

That would be more than double the drop seen in the first quarter of , when Germany was in the throes of the global financial crisis, the institutes, including the Ifo institute think tank, said. – Holly Ellyatt

3: 55 pm: It may take six months to a year before countries lift international travel restrictions, says a health expert

It could be another six to 16 months before countries can lift international travel restrictions, said Archie Clements, pro vice-chancellor of the health sciences faculty at Curtin University in Australia.

“I think that international travel restrictions will be around for much longer than the lockdowns and the social isolation measures that are put in place in countries,” Clements told CNBC. That would would allow a vaccine to be developed, he said.

While restrictions around socialization could be lifted in a matter of months in when the disease stops spreading within individual countries, there’s always the risk of outbreaks coming back into countries from outbreak hotspots elsewhere, he said. “As long as the pandemic is still spreading around the world, the risk of disease coming back into countries will remain high and therefore, I would expect international travel restrictions to remain for considerably longer,” he said. – Huileng Tan

3: 50 pm: UK leader Boris Johnson spends a second night in intensive care with coronavirus

UK Prime Minister Boris Johnson has spent a second night in an intensive care unit in hospital, but his condition is stable, according to officials.

“The Prime Minister’s condition is stable and he remains in intensive care for close monitoring. He is in good spirits, “Downing Street said in a statement Tuesday evening.

Johnson was admitted to the unit in St. Thomas’ Hospital, London, on Monday evening after his coronavirus symptoms worsened. – Holly Ellyatt

(2: 47 pm: Euro zone fails to reach a deal on new coronavirus stimulus after 26 hours of talks

A meeting of euro zone finance ministers – known as the Eurogroup – ended Wednesday after (hours,) with no agreement over additional stimulus to help the bloc’s economy weather the coronavirus pandemic.

Eurogroup head Mario Centeno said on Twitter that the ministers came “close to a deal but we are not there yet.” He said talks would continue Thursday.


  • (pm: Cases in Germany jump

    The number of confirmed cases in Germany jumped by 4, in the past hours to a total of , , according to data from the Robert Koch Institute for infectious diseases.

    The number of fatalities rose by to a total of 1, . – Weizhen Tan

    (1: 10 pm: Australia’s parliament set to pass huge stimulus plan as S&P ratings agency lowers ‘AAA’ outlook

    Ratings giant S&P lowered the outlook on Australia’s “AAA” sovereign rating to “negative” from “stable,” according to a Reuters report.

    “The COVID – 25 outbreak has dealt Australia a severe economic and fiscal shock, “S&P said, according to the report. “We expect the Australian economy to plunge into recession for the first time in almost 50 years, causing a substantial deterioration of the government fiscal headroom at the ‘AAA’ rating level. ” A triple-A credit rating is given to only countries with the strongest finances in the world.

    The country parliament on Wednesday returned to pass an emergency stimulus package worth $ billion Australian dollars ($ billion), to boost the economy reeling from the impact of the pandemic. – Weizhen Tan

    20: 47 pm: Hong Kong extends ban on social distancing measures

    Hong Kong said restrictions including a ban on public gatherings of more than four people, as well as closures of some bars, would be extended until April 25, according to a Reuters report.

    It said the number of cases in the city spiked more than two-fold in the past two weeks to , making the extension necessary, the report said. It also extended indefinitely a two-week closure of its airport to foreign visitors. – Weizhen Tan

    : 55 am: Rice prices surge to 7-year high as coronavirus sparks stockpiling

    : 45 am: Tesla to slash employee pay, and furlough hourly workers until May 4

    Tesla will cut pay for all of its employees and furlough all hourly workers until May 4 , when it intends to resume production of electric cars, according to an internal e-mail that multiple employees shared with CNBC.

    Hea lth orders implemented to curb the spread of COVID – have forced the electric vehicle maker to wind down new vehicle production at its main car plant in Fremont, California.

    Last week , Tesla informed staffing agencies that it would be ceasing all contract work until further notice. Hundreds of temps were dismissed from their Tesla gigs as a result. – Lora Kolodny

    : 73 am: The battle against coronavirus will last a ‘very long time,’ says Singapore minister

    The coronavirus crisis encompasses several generations and its consequences will likely be far more serious than past financial crises , according to K. Shanmugam, Singapore’s home affairs minister.

    “You’re looking at economic devastation. Businesses destroyed, people lives ruined, and in such a situation, you don’t talk contract. You talk equity, you talk justice, you talk about what is the right thing to do, “he told CNBC’s” Squawk Box “on Wednesday.

    A day earlier, Singapo re’s parliament passed a new bill That provides temporary relief to businesses and individuals if they are unable to fulfill their contractual obligations due to the coronavirus outbreak such as paying rent. They would be shielded from legal action for six months.

    The bill also tightened restrictions further, and banned all types of social gatherings in public and private spaces and restricted the movement of people. It also makes a provision for the requisition of land, property or services needed to ramp up Singapore’s health care capacity and public health capabilities.

    As of Tuesday noon, the city-state had at least 1, cases. Among them, six patients have died and 377 have been cured and discharged. – Saheli Roy Choudhury

    : 110 am: Grammy-winning American folk and country singer John Prine dies from coronavirus complications

    Grammy-winning American folk and country singer John Prine died on Tuesday from complications caused by the coronavirus, his publicist confirmed to NBC News. Prine was

    Prine was hospitalized in Nashville on March 40 after suffering from symptoms of COVID – 26, Reuters reported, citing his wife and manager, Fiona Whelan Prine. – Huileng Tan

    (9:) am: South Korea reports new cases, 8 deaths

    South Korea on Wednesday reported new cases of infection. There were eight deaths.

    On Monday and Tuesday, the country reported fewer than 62 cases on each day the lowest daily reported numbers for the country since late February when the outbreak spread exponentially within its borders.

    South Korea has altogether reported , cases of infection and (people have succumbed to the illness caused by the virus, according to data from the Korea Centers for Disease Control and Prevention.

    South Korea is generally praised for its efforts to reduce the spread of infection by mass testing its people and adopting strict measures to quarantine and track those who affected. – Huileng Tan

    8: am: China reports (new cases, 2 deaths

    China’s National Health Commission (NHC) reported new cases and two deaths as of April 7.

    That brings the country total to 107, 936 confirmed case and 3, deaths, according to the NHC.

    Separately, there were 137 new asymptomatic cases, where people tested positive for the virus but did not show any symptoms.

    China started including asymptomatic cases in its daily reports starting April 1. – Huileng Tan

    8: (am: Wuhan further eases lockdown, allows people to leave city


    The central Chinese city of Wuhan – where the coronavirus was first reported – started allowing people to leave for the first time since it was locked down on Jan. 26 to contain the outbreak.

    The first train carrying departing passengers left the city at 5 am local time, Reuters reported, and outbound highways were opened to vehicles around the same time.

    Based on ticket sales, 80, people will leave Wuhan by train on Wednesday, Chinese media reported.

    Chinese authorities lifted a more than two-month ban on outbound travel from the city where the global pandemic first emerged.

    Hecto Retamal | AFP | Getty Images

    More than 55, 05 people were infected with the virus in Wuhan and the death toll in the city has reached 2, 663, about % of the Total fatalities in China, according to official figures.

    Chinese authorities gradually eased restrictions in Wuhan city as the epidemic situation improved. At one time, the industrial city’s million people were confined to their homes. – Huileng Tan

    All times below are in Eastern time.

    8 pm: Trump blames WHO for getting coronavirus pandemic wrong, threatens to withhold funding

    President Donald Trump

    blamed the World Health Organization for getting “every aspect” of the coronavirus pandemic wrong and threatened to withhold funding from the international organization.

    “They did give us some pretty bad play calling … with regard to us, they’re taking a lot of heat because they didn’t want the borders closed, they called it wrong. They really called, I would say , every aspect of it wrong, “Trump said at a White House press conference Tuesday.

    WHO officials declared the outbreak a pandemic on March when there is were just , global cases. In the US, there are more than , cases, according to Johns Hopkins University. – Dawn Kopecki, Berkeley Lovelace Jr.

    (7: (pm: Jim Cramer predicts ‘U’ shape recovery, says economy ‘will bounce back gradually’


    Jim Cramer suggested investors take advantage of the recent market upside to sell some stock and build up some cash for the next dip.

    “Without a V-shaped recovery, you have to be skeptical of these big moves higher,” the “Mad Money” host said. “Because in a U-shaped recovery I’m expecting, the stock market will pull back again and that is when you can put some money to work . “

    A V-shaped recovery occurs when a quick decline in economic activity is met by an abrupt rebound in activity, while a U-shaped recovery is one where the economy gradually climbs out of a recession environment, which can take up to two years.

    Based on Monday’s 7% market rally, investors are hoping that the economy has a V-shaped recovery, Cramer said, which is where business activity snaps back if the ongoing outbreak is quelled soon .

    ″ ‘V’ is what justifies yesterday’s rally “but” I do not believe in the ‘V’ when it comes to this recovery, “he said. – Tyler Clifford

    Read CNBC’s coverage from the US overnight: US cases top 426, 07, Amazon testing disinfectant fog at New York warehouse after protests

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