(Bloomberg) — Brazil reported another daily record for Covid-19 cases and deaths, making it the world’s fastest-growing virus hot spot, accounting for 13% of new cases globally in the past week. Infections in India rose at the fastest pace in Asia to top 100,000. Germany’s new virus cases rose above 1,000 for the first time in 11 days, though the infection rate dropped.
South Korea is reopening schools amid reporting the most new cases in nine days. Singapore’s Trade & Industry minister said a faster economic recovery will depend on availability of affordable, rapid test kits and a vaccine, even as the city-state said it will allow more businesses to reopen on June 2.
President Donald Trump called the 1.5 million cases in the U.S. a “badge of honor” for the country’s testing efforts. Republicans are pushing for WHO Director-General Tedros Adhanom Ghebreyesus and Cui Tiankai, China’s ambassador to the U.S., to testify before the House virus oversight subcommittee.
Key Developments:
Virus Tracker: Cases top 4.8 million; deaths exceed 323,000The struggles of homeschooling in the world’s tiniest apartmentsAustralia’s closed borders harken back to pre-global economyBoris Johnson has a Brexit problem with workers staying homeJapan welcomed foreign workers then left them in virus limbo
Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. See this week’s top stories from QuickTake here.
U.K. Inflation Rate Drops Below 1% Amid Negative Rate Debate (3:06 p.m. HK)
U.K. inflation slowed to the weakest level since 2016 in April as energy prices fell and the coronavirus lockdown put the brakes on economic activity.
The prospect of persistently low inflation will fuel speculation that more action is needed from the Bank of England, intensifying the debate over taking rates below zero for the first time. Governor Andrew Bailey faces questions from lawmakers later on Wednesday. While the lockdown means it’s hard to interpret the data, the report gives more of a flavor of the impact the virus is having on the economy.
Lufthansa Warns of Urgent Need for Bailout With Most of Fleet Grounded (3:02 p.m. HK)
Deutsche Lufthansa AG’s management said the need for a multibillion-euro coronavirus bailout was becoming “urgent” as talks with the government in Berlin drag on. In a letter to employees, the airline said cash reserves continued to shrink while it negotiates the 9 billion-euro ($9.9 billion) rescue package.
Lufthansa’s board said it hoped the government would find the “political will” for a deal that would keep the carrier competitive against international airlines and meet with European Union approval. The company is running out of time and money, burning through 800 million euros each month after the coronavirus grounded most of its fleet.
Latvia Wants to Lift State of Emergency in June (2:48 p.m. HK)
Latvia’s goal is to lift a state of emergency after June 9, while leaving in place some restrictions to control the pandemic, Prime Minister Krisjanis Karins said on Latvian TV.
Latvia may adopt a law allowing the government to take additional measures to fight the virus after lifting the state of emergency.
Rolls-Royce Moves to Cut 9,000 Jobs as Virus Derails Turnaround (2:35 p.m. HK)
Rolls-Royce Holdings Plc Chief Executive Officer Warren East’s five-year bid to revive earnings has been shattered by the coronavirus crisis as the U.K. engineering giant moves to scrap 9,000 jobs. Jet-engine-maker Rolls will cut 17% of its workforce amid a travel slump prompting airlines to scale back years of jetliner purchases, the company said in a statement.
Rolls-Royce is particularly exposed because of its focus on larger aircraft facing a reduced role in global fleets as the pandemic depresses economies and alters travel habits. East said before the outbreak that the London-based company was turning a corner after years of restructuring.
South Africa Says It Doesn’t Meet WHO Criteria to Lift Lockdown (2:28 p.m. HK)
The rate of new coronavirus infections in South Africa must slow before the country can lift a nationwide lockdown in line with World Health Organization guidelines, Health Minister Zweli Mkhize said. The government’s Covid-19 modeling team presented forecasts showing a peak in active cases in early July under the pessimistic scenario, or a peak in early August under the optimistic scenario.
South Africa, which has the highest number of confirmed infections on the continent, eased some restrictions on May 1, almost five weeks after imposing a stringent lockdown. Schools will be allowed to reopen gradually from June 1.
China Sees Signs New Cluster Carries Virus Longer Than in Wuhan (2:18 p.m. HK)
Chinese doctors are seeing signs that the coronavirus is manifesting differently among patients in its new cluster of cases in the northeast region compared to the original outbreak in Wuhan, suggesting that the pathogen may be changing in unknown ways.
Patients found in the northern provinces of Jilin and Heilongjiang appear to carry the virus for a longer period and take longer to recover, as defined by a negative nucleic acid test, Qiu Haibo, one of China’s top critical care doctors, told state television. Cases in the northeast also appear to be taking longer than the one to two weeks observed in Wuhan to develop symptoms after infection, Qiu said.
Germany’s New Virus Cases Top 1,000 for First Time in 11 Days (1:35 p.m. HK)
Germany’s new virus cases rose above 1,000 for the first time in 11 days, while the infection rate dropped further below the key threshold of 1.0. There were 1,227 new cases in the 24 hours through Wednesday morning, bringing the total to 177,778. That’s up from 182 on Tuesday but still well below the three-day average of about 2,700 a month ago.
Chancellor Angela Merkel is set to chair a cabinet meeting with the issue of protecting meat-industry workers on the agenda.
Japan Virus Adviser Says New Infection Wave Possible Before Winter (1:28 p.m. HK)
The deputy head of the Japanese government’s advisory panelon the coronavirus, Shigeru Omi, told a parliamentary committee it waspossible to see a new wave of infections before winter comes.
New infections in Japan are returning to levels to just before mid-March, Omi said. The Japanese government is considering lifting a state of emergency for Osaka, Kyoto and Hyogo prefectures as new infections wane, the Asahi newspaper reported, citing an unidentified government official.
Leader of Trial Says Japan State Backing of Virus Drug Premature (1:18 p.m. HK)
The lead reseacher on a trial of the Japanese antiviral Avigan to treat Covid-19 said it’s premature to make a call on whether the drug works, and patients are still being enrolled. Final results of the trial for the drug, which is manufactured and sold by Fujifilm Holdings Corp., are expected around July, Yohei Doi, a doctor who is leading the trial, said in an interview.
His comments came amid conflicting reports over the drug’s efficacy. Japanese media reports said the off-patent drug was not effective based on interim analysis of Doi’s trial, but Prime Minister Shinzo Abe has said he expected the treatment to be approved for use this month.
Singapore Aiming for Cheap Tests, Vaccine to Speed Recovery (12:42 p.m. HK)
Singapore Trade & Industry Minister Chan Chun Sing said a faster economic recovery from the pandemic would depend on the availability of affordable, rapid test kits and the rollout of a vaccine. “If either one of these or both come about in the next few months, then I think there’s a much better chance of us recovering faster,” he said Wednesday in an interview with Bloomberg.
For now Singapore’s economy faces many challenges, despite recent data showing a surprise improvement in exports, Chan said. The city state’s heavily trade-reliant economy has taken a beating from restrictions imposed globally to contain the coronavirus outbreak.
Singapore said it will begin reopening some businesses on June 2, resulting in three-quarters of the economy resuming operations.
Saudi Arabia to Use Monitoring Devices for Quarantines (12:35 p.m. HK)
Saudi Arabia is preparing to use electronic wristbands to monitor people quarantined inside their homes as it seeks to facilitate home quarantine instead of medical isolation in quarantine facilities, Saudi Gazette reported.
Switzerland Extends Emergency Measures to Keep Banks Lending (12:28 p.m. HK)
Switzerland is extending reserves measures first introduced in March to ensure banks continue lending to businesses and households hit by the pandemic. Money parked by lenders at the central bank can be excluded from the calculation of commercial banks’ leverage ratios until Jan. 1, according to a statement from the Swiss Financial Market Supervisory Authority.
The relief was previously set to expire on July 1. The measures are the latest by Swiss authorities looking to boost credit provisions as business grinds to a halt as a result of the coronavirus.
Philippines Considers Downsizing Lockdowns (11:25 a.m. HK)
The Philippines is considering downsizing lockdowns to villages from regions, as it balances further reopening its economy with stemming the virus outbreak. “We will lock down villages with coronavirus cases so that we can preserve economic activity,” Carlito Galvez, who is implementing policies to stem the outbreak, said in a televised briefing.
Stricter curbs may be brought back should a second wave of infections occur President Rodrigo Duterte said at the same briefing, as the government prepares for the arrival of more returning overseas workers. Malls and some businesses have been allowed to open in the capital since May 16.
Vietnam Premier Seeks Economic Target Revisions as Virus Cripples Shipments (10:42 a.m. HK)
Vietnam Prime Minister Nguyen Xuan Phuc is seeking approval from the politburo and National Assembly to revise down this year’s economic targets as the coronavirus pandemic cripples shipments from the export-dependent nation.
Phuc, speaking to the legislature in a live television broadcast from Hanoi, did not provide specific new targets. The planning and investment ministry said last week Vietnam may revise down its 2020 economic growth target to about 4.5% from its initial target of 6.8%.
New Nightclub Cases Reported in South Korea (10:32 a.m. HK)
South Korea reported that nightclub-related cases rose to 193 as of midnight, according to a government briefing.
South Korea officials said they had worried that the cluster of infections linked to nightclubs in Seoul could jeopardize plans to reopen schools, yet have concluded that the latest outbreak appears under control.
South Korea Reports 32 Cases, Most in Nine Days (9:32 a.m. HK)
South Korea reported 32 new cases in 24 hours, the most since May 11, according to data from the Korea Centers for Disease Control & Prevention website. The total number of infected rises to 11,110.
Among the new infections, 10 are from Seoul, 10 from Gyeonggi province and eight from Incheon. No new deaths were reported, it says the total death toll stands at 263.
Venezuela Reaches New Daily High With 131 Cases (9:16 a.m. HK)
Venezuela Information Minister Jorge Rodriguez, speaking on state television, confirmed 131 new coronavirus cases, a new daily high, for a total of 749 in the country. He said that 110 of the new cases came from Ecuador, Peru, Colombia and Brazil.
Venezuela declared a curfew in two Zulia state municipalities near the Colombia border and in one municipality in Bolivar state near the border with Brazil. “No one enters Venezuela without being attended to and tested by the health authorities. No one enters Venezuela without completing the 14-day quarantine,” Rodriguez said.
China Reports Five Virus Cases, With Four in Jilin (9:08 a.m. HK)
Four local infections were reported in China’s northeastern province of Jilin and one imported case in Inner Mongolia, the National Health Commission said in a statement. Sixteen asymptomatic cases were reported; one from overseas.
The country has 82,965 total confirmed coronavirus cases and says its death toll remains at 4,634.
Facebook to Limit Offices to 25% Capacity, Require Masks (8:35 a.m. HK)
Facebook Inc. will limit offices to 25% occupancy, require masks at work, put people on multiple shifts and require temperature checks when it lets employees back into workplaces starting in July, according to people familiar with the matter.
The social media company outlined to staff globally how it plans to handle a return to major job sites starting July 6, providing a glimpse at what offices may look like more broadly as businesses reopen their doors in the face of the pandemic. Facebook will also limit how many employees can gather in meeting rooms and create 6-foot spaces between work stations. Staff must wear masks in the office when not social distancing.
Judge Rules All Texans Can Vote By Mail (8:22 a.m. HK)
Texas must give any voter afraid of catching Covid-19 at the polls a mail-in ballot for as long as the pandemic threat continues, a federal judge ruled.
The U.S. judge’s ruling conflicts with the Texas Supreme Court’s temporary suspension of a state judge’s order to do the same thing, while the Texas high court examines the issue further. Texas’s top officials, all Republicans, are fighting expansion of mail-in ballots to voters younger than 65 who don’t qualify as “disabled” under the state’s definition.
Brazil Travel Ban Considered by Trump (7:42 a.m. HK)
President Donald Trump said he’s considering a ban on Brazilians traveling to the U.S. as the Latin American nation takes over third place globally in the number of Covid-19 cases.
“Brazil is having some trouble, no question about it,” Trump said in response to a question from a reporter at the start of a cabinet meeting. “I don’t want people coming in here and infecting our people.”
Trump Announces New Rules for Farmer Bailout (7:20 a.m. HK)
President Donald Trump announced rules Tuesday for a $19 billion coronavirus farm aid package covering a broad swath of U.S. agriculture that producers can begin claiming by next week.
Farmers who suffered a 5% or greater price loss will be eligible for direct payments of as much as $250,000 per person, the U.S. Department of Agriculture said in a statement.
South Korean Schools Start Reopening (6:33 a.m. HK)
After an unprecedented five-month break, South Korean students are returning to their classrooms as government health officials declared that the country may have avoided a “second wave” of infections.
The schools are reopening in stages, with high school seniors returning first on Wednesday and middle and elementary students slated to go back to school in the following weeks. The third-year high school students are leading the return as they now only have half a year before their annual university entrance exams in early December, education officials said.
UV-Light Used to Kill Virus on N.Y. Transit (5:50 p.m. NY)
New York’s Metropolitan Transportation Authority will use ultraviolet light to help remove Covid-19 from its subways, buses and commuter trains as the technology has shown to eradicate the virus from surfaces.
Ridership has fallen dramatically as people work from home and avoid using public transportation. To bring riders back, the agency plans to use innovative disinfecting regimes to help sanitize its fleets and restore ridership confidence.
U.S. Cases Rise 1.6% (4 p.m. NY)
U.S. cases rose 1.6% from the day before to 1.52 million, according to data compiled by Johns Hopkins University and Bloomberg News. That was higher than Monday’s growth rate of 1.2%, but in line with the average daily increase of 1.6% over the past week. Deaths rose 1.5% to 91,179.
New York cases rose by 1,474 to 352,845, the second day in a row that new cases totaled less than 1,500, according to the state’s health department.Florida’s caseload grew by 1.1% to 46,944, according to the state’s health department. Deaths climbed 2.8% to 2,052.New Jersey cases increased 0.7%, or by 1,055, to 149,013, a pace that matched the prior seven-day average, according to Governor Phil Murphy.California cases rose 1.7%, below the average 2.37% increase over the previous seven days, to a total of 81,795. There were 32 new deaths, the fewest in more than a week.
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