Covid-19: EU travel restrictions
Europe’s external borders will be closed to non-essential travel, starting today at 12noon, for at least the next 30 days. Workers and returning citizens will be admitted. Sources: CNN, Euronews, the Independent and Sky News.
Covid-19: More movement restrictions in Europe
France: The French president told residents to stay at home and said non-essential movement within France would be fined (BBC, Delano, France 24 and The Guardian). Germany: The German government shut down schools, shops and religious gatherings (AFP, Deutsche Welle, Reuters and The Local Germany). UK: The British prime minister told people to avoid public spaces and non-essential contact with others, but the recommendations were not compulsory (BBC, CNBC, CNN and Sky News).
Covid-19: Restrictions elsewhere
California: Los Angeles and San Francisco were placed on lockdown, with residents ordered to stay at home; elsewhere in the US state, gatherings of 250 or more people are prohibited (The Guardian, Los Angeles Times and San Francisco Chronicle). Canada: The Canadian PM said Canada was barring entry into the country except for Canadian and US citizens and Canadian permanent residents (CBC, CNBC and Los Angeles Times).
Covid-19: Research and testing
Human trials: The first clinical trials of a potential covid-19 vaccine started in the US on Monday (Associated Press, BBC and Deutsche Welle). Testing: The World Health Organization chief said many public health authorities around the world were not sufficiently detecting covid-19, stating: “We have a simple message for all countries: Test, test, test” (CNBC, Press Association and Reuters). Transmission: The WHO is examining “airborne precautions” for healthcare workers after a study found the coronavirus can sometimes survive in the air (CNBC and Stat News).
Covid-19: Financial and economic impact
Market turmoil: European stocks closed down 5% on Monday (CNBC and Marketwatch), Wall Street dropped 12% (Financial Times, Marketwatch and NPR), and Asian markets have sunk in Tuesday trading (Reuters and South China Morning Post). Central bank moves: The US Federal Reserve promised more short-term financing for financial institutions and started a new round of quantitative easing (CNBC, Financial Times and Investor’s Business Daily). Government pledges: Leaders of the G7 major economies said they would “do whatever it takes” to preserve the global economy (AFP, Bloomberg, Financial Times and Marketwatch).
Eurogroup looking to ESM
Eurozone finance ministers are looking to the European Stability Mechanism, the EU bailout body based in Kirchberg, to get the European economy through the coronavirus crisis. Its head on Monday said the ESM had an “unused lending capacity of €410bn”. Sources: Bloomberg, Financial Times, Marketwatch and Reuters.
Airlines face bankruptcy
Most of the world’s air carriers will collapse by May without government support, according to a consultancy report. Sources: CNN, Financial Times, Marketwatch and Reuters.
Amazon to hire staff
The e-commerce giant Amazon said it would hire 100,000 workers in the US to help handle the surge in online orders as consumers stay at home. Sources: Financial Times, NPR, Reuters, The Telegraph and Washington Business Journal.
Amazon bans Hitler book
Amazon said it would stop selling most editions of Adolph Hitler’s “Mein Kampf” and other Nazi propaganda books. Only “educational” editions will be allowed. First reported: The Guardian. Additional sources: Cnet and Newsweek.
Apple fined in France
France’s competition authority fined Apple €1.1bn, its largest penalty ever, over what it said were anti-competitive measures against wholesalers. Apple contested the allegations and said it would appeal. Sources: CNBC, The Guardian and Techcrunch.
Dutch cut maximum speed on Monday
The Netherlands reduced its speed limit on most motorways during the daytime from 130kph to 100kph in a bid to reduce air pollution. Sources: Deutsche Welle and Dutchnews.nl. Background: BBC and The Guardian.
Self-driving ship
An autonomous boat named “Ben” is searching for sunken wrecks in the area of Lake Huron called “shipwreck alley” per The Verge.
Today’s breakfast briefing was written by Aaron Grunwald