Subscribe to Coins2Day’s Outbreak newsletter for a daily roundup of stories on the coronavirus outbreak and its impact on global business.
The news surrounding the COVID-19 coronavirus pandemic is coming at a breathtaking pace. Between the rumors and the real news, it’s hard to keep up.
The stock market is like an excited child on a trampoline, Tuesday’s presidential primaries are filled with confusion, and tech companies that used to be bitter rivals are teaming up. Add in an expected White House briefing this afternoon and it’s not just mind-boggling, it’s exhausting. Not sure where to start with all the news? Here’s the latest on the pandemic and its impact on both businesses and nations.
Ohio scraps Democratic primary, Florida poll workers a no-show
The Democratic presidential primary is consumed with uncertainty after leaders in Ohio called off Tuesday’s election just hours before polls were set to open, citing the need to combat the new coronavirus. Officials in Florida, Arizona, and Illinois said they would move forward with the vote—but by early Tuesday morning, the virus was hurting people’s efforts to get to the polls.
Some Florida polling places couldn’t open as poll workers didn’t arrive because of fears over the potentially deadly virus.
Morgan Stanley and Goldman Sachs declare global recession underway
Goldman Sachs Group and Morgan Stanley economists joined the rush on Wall Street to declare the coronavirus has triggered a global recession, with the debate now focusing on how deep it will be and long it will last.
Europe’s auto factories are closing. Experts fear a lost decade is coming
The European automobile industry is shutting down as the coronavirus pandemic rages, and experts suggest Asian rivals could find new opportunities in the aftermath.
Volkswagen, the world’s biggest automaker, on Tuesday became the latest firm in the sector to announce the temporary closure of European plants—those in Spain, Portugal, Slovakia, and Italy will shut this week, while its German factories will close after Friday.
Firms redeploy factories to make coronavirus supplies
To battle the coronavirus pandemic, GM, with joint-venture partner SAIC Motor, is now making machines to manufacture surgical masks at a plant in the southern Chinese city of Liuzhou.
GM is far from the only company to dedicate factories to the battle against the new disease, an international campaign that’s been compared to wartime efforts. Across industry and geography, firms are redeploying production lines to boost the manufacturing of needed supplies. Machinery usually reserved for iPhones, cosmetic goods, and chemicals is now spitting out surgical masks, hand sanitizer, and medical supplies.
Uber suspends shared rides as coronavirus continues to spread
Uber is suspending pooled rides in North America as the COVID-19 coronavirus continues to spread.
The ride-share service on Tuesday shut down its Uber Pool option, which let up to four people share a ride (and save money) when they were headed in the same general direction.
Online grocers struggle to meet the surge in demand
Online shopping was supposed to be a panacea for those forced to self-isolate owing to coronavirus symptoms, or because their age or underlying health conditions made them especially vulnerable.
But, so far, it hasn’t quite worked out as techno-optimists envisioned.
The rise of social distancing pushes Zoom founder’s net worth up by $2 billion
The continuing rout in global stocks obliterated about $4 trillion of market value Monday, but one billionaire is managing to avoid the onslaught as social distancing becomes the norm.
Eric Yuan, the founder of Zoom Video Communications Inc., added $20 million to his net worth Monday while the S&P 500 plunged 12%.
Super-rich spurned by private jets as coronavirus stops flights
Private jet operators are turning away wealthy clients as coronavirus-related travel bans restrict their ability to operate, despite a surge in requests from people willing to shell out as much as $150,000 to secure a spot on their planes.
Cruise ship industry woes stand out in a travel sector battered by coronavirus
How bad is the coronavirus fallout for the travel and leisure industry? Historically bad. But some industry sectors are better positioned than others.
Airlines and lodging have the best prospects of recovery, after enduring intense pain. Cruise lines, however, will remain very shaky.
Ventilators are key to preventing coronavirus deaths—but does the world have enough of them?
For some critically ill COVID-19 patients, mechanical ventilation can be the difference between recovery and death.
But this life-saving equipment—and the trained specialists who operate it—are in finite supply.
More coronavirus coverage from Coins2Day:
—How to prepare your personal finances for a coronavirus recession
—The coronavirus could upend America’s business relationships to China
—The best Twitters to follow for reliable information on the coronavirus outbreak
—3 months before the coronavirus, a war game showed we weren’t ready
—How mainland China’s closest neighbors have kept coronavirus cases so low
—Couples are scrambling to prepare last-minute wedding alternatives
—SARS taught Taiwan how to contain the coronavirus outbreak
—How A.I. Is aiding the coronavirus fight
Subscribe to Coins2Day’s Outbreak newsletter for a daily roundup of stories on the coronavirus outbreak and its impact on global business.
