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by Steven Magallanes
Friday, March 13, 2020
Friday Morning Briefing: Coronavirus hits politicians, sports and showbiz stars as it spreads across globe
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March 13, 2020
Reuters News Now
Coronavirus
What you need to know about the coronavirus epidemic today: “Test and you shall find”is the mantra of epidemiologists tackling the new coronavirus: the only question then becomes how public health authorities cope with all the confirmed cases that emerge. U.S. Democrats are nonetheless insisting that Americans must be fully encouraged to go for tests if the economic aid package going through Congress is to get their backing.
President Donald Trump tweeted earlier that coronavirus testing in the United States will soon happen on a large scale, but did not provide any details on how that would be accomplished.
Financial markets now appear to be finding some solace in hopes for more economic stimulus after plumbing the depths of despair earlier this week. The benchmark of European stocks gained a modest 2.6% on Friday after the 12% crash on Thursday that erased over $1 trillion from the value of European firms and plunged global equities into a bear market.
Greece’s first female president,Katerina Sakellaropoulou, was sworn in for a five-year term at a ceremony scaled down due to the coronavirus outbreak. Sakellaropoulou, an ex-president of the Council of State, Greece’s top administrative court, will succeed Prokopis Pavlopoulos.
As President Donald Trump scrambles for new ways to cushion the economic blow from the fast spreading coronavirus, industry groups, lawmakers and even some government officials are reviving a previous request: cut tariffs on Chinese and other imported goods.
Federal Reserve policymakers have already begun responding to the coronavirus with an emergency interest rate cut and a reopening of their crisis tool kit, all without a clear idea of what damage is being done outside of plummeting financial markets.
Elon Musk is expected to defend a $2.2 billion deal in court next week criticized by shareholders as benefiting Musk at the expense of Tesla Inc, and the outcome may depend as much on the chief executive’s temperament as on the facts of the case.
The U.S. Department of Defense is seeking court permission to reconsider certain aspects of its decision to award a $10 billion cloud computing contract to Microsoft, court filings showed. A U.S. judge last month granted Amazon’s request to temporarily halt the DoD and Microsoft from moving forward with the deal, which Amazon had said reflected undue influence by President Trump.
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