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07/04/20 COVID-19 Global News Update

07 April 2020

Overview of the latest developments on Coronavirus (COVID-19):

Boris Johnson's has been admitted to an Intensive Care Unit.
Foreign Secretary in temporary charge of the UK and admits it is too soon to begin discussions about ending the lockdown.
Shares rebound after data shows number of deaths slowing.
Japan is set to declare a national emergency and $1tn stimulus plan.

International

Dubai and Saudi Arabia explore funding options amid coronavirus fallout - sources

Apr 6th, 2020viaReuters UK - Business News

Dubai is in the early stages of talks with banks about potential funding options as its economy suffers under the fallout from the new coronavirus, two sources familiar with the matter said. It has not issued a request for proposals but has approached banks in the past few days that have lent to the emirate previously to see if they can provide debt financing of $3 billion to $5 billion, one of the sources said.

Australia shares gain as coronavirus spread slows; NZ near 1-month high

Apr 7th, 2020viaReuters UK - Financial Services News

Australian shares rose on Tuesday, taking cues from U.S. and European equities overnight, as reports of slowing fatalities from the coronavirus outbreak raised optimism that the fight against the disease was reaching an inflection point.

European shares jump as coronavirus deaths slow, Germany up almost 6%

Apr 6th, 2020viaReuters UK - Business News

German shares jumped 5.8% on Monday to lead a strong bounce in European shares as a slowdown in coronavirus deaths raised hopes that nationwide lockdowns may gradually be eased.

Coronavirus makes almost half of Polish firms plan wage cuts

Apr 6th, 2020viaReuters UK - Business News

Among Polish companies, 46% will likely cut the salaries of their workforce, while 28% plan layoffs, because of the economic consequences of the coronavirus pandemic, a poll released on Monday by state Polish Economic Institute (PEI) found.

'Sustainable' funds a safer harbour in coronavirus market meltdown

Apr 6th, 2020viaReuters UK - Business News

Funds focused on buying stocks that score well on environmental, social and governance-related metrics proved a safer harbour for investors during the coronavirus-fuelled market rout last month, Morningstar data shows.

Coronavirus: US car insurers refund drivers stuck at home

Apr 7th, 2020viaBBC News - Business

A major car insurerin the US, Allstate, is refunding millions of dollars to customers stuck at home during coronavirus lockdowns.

UK

FTSE 100 leaps amid hopes of slowing coronavirus pandemic

Apr 7th, 2020viaCityAM

The FTSE 100 jumped at today’s open to build on yesterday’s momentum as hopes grow that the coronavirus crisis is easing.

Banks 'being defeated' by coronavirus business loan scheme

Apr 6th, 2020viaCity AM - Business

Concerns are growing about the accessibility of the government’s coronavirus business loan scheme amidst ongoing claims that many small and medium businesses are being denied funds. Just 1,000 businesses, out of almost six million British SMEs, have been granted loans as a part of the £330bn coronavirus business interruption loan scheme (CBIL).

Britain's supermarkets wrestle with coronavirus demand conundrum

Apr 7th, 2020viaReuters UK - Top News

Britain’s big supermarkets fear they won’t be able to supply the country’s 60 million people without longer opening hours or a relaxation of social distancing rules introduced to curb the spread of the coronavirus.


General UK News

PM Johnson in intensive care with worsening coronavirus symptoms

Apr 7th, 2020viaReuters UK - Top News

Boris Johnson was fighting worsening coronavirus symptoms in an intensive care unit on Tuesday, leaving his Foreign Secretary Dominic Raab to lead the government’s response to the accelerating outbreak.

Coronavirus: ‘Too early’ to consider lockdown exit plan

Apr 6th, 2020viaCity AM - Business

It is too early to consider how the UK will exit the current coronavirus lockdown, foreign secretary Dominic Raab said yesterday. “The risk is, if we start taking our eye off the ball, of tackling the coronavirus, stopping the spread and getting through the peak, we risk delaying the point at which we could in the future take those decisions on easing restrictions,” he said.

Coronavirus: Welsh employers told to keep staff two metres apart

Apr 7th, 2020viaBBC - Wales

All employers in Wales will be told to keep workers two metres apart from Tuesday.


Global Situation

Japan to announce coronavirus emergency, prepares near $1 trillion stimulus

Apr 7th, 2020viaReuters UK - World News

Japanese Prime Minister Shinzo Abe pledged that his government would do its utmost to protect people’s lives as he prepared to declare a state of emergency on Tuesday to stem a worrying rise in new coronavirus infections in major population centres.

China reports no new coronavirus deaths for the first time

Apr 7th, 2020viaCity AM - Business

China reported no new coronavirus deaths overnight for the first time since the outbreak began in Wuhan at the start of 2020, as hopes grow that the global pandemic is easing.

Panic buying, trade curbs cause shortages of coronavirus drugs in EU

Apr 6th, 2020viaReuters UK - Top News

Hospitals in the European Union are facing shortages of critical drugs to treat COVID-19 patients because of trade restrictions and excessive stockpiling by EU governments, EU and industry officials said on Monday.

Factbox: Latest on the spread of the coronavirus around the world

Apr 6th, 2020viaReuters UK - Top News

European nations including hard-hit Italy and Spain have started looking ahead to easing coronavirus lockdowns after steady falls in fatality rates, as the United States prepared on Monday for what one official called “peak death week”.

Denmark to ease restrictions next week after coronavirus lockdown

Apr 6th, 2020viaReuters UK - World News

Denmark plans to reopen day care centres and schools on April 15 as a first step to gradually relax a three-week lockdown to curb the spread of the new coronavirus, the country’s prime minister said on Monday.

To read more from DWF on COVID-19 visit our insights hub >

Further Reading