Boris Johnson, the British prime minister, is seen delivering a TV address announcing covid-19 restrictions, 23 March 2020. Photo credit: No 10 Downing Street / Andrew Parsons
Microsoft security warning, Alex Salmond cleared of all charges, and what’s considered an “essential service” in California. Delano’s breakfast briefing for Tuesday.
UK issues “stay at home” order
The British government became the latest to restrict movement to combat transmission of the coronavirus that causes covid-19. As elsewhere in Europe, inhabitants can only leave their homes to go to work, shop for essential items, and for medical and care reasons. Public gatherings of more than two were banned. The moves came after many people in Britain were seen flouting social distancing recommendations. The prime minister, Boris Johnson, said: “I must give the British people a very simple instruction: You must stay at home.” Sources: BBC, Marketwatch, NPR, Reuters and the Telegraph.
The French government said people out for a walk or exercise were now limited to a radius of 1km from their home and a time limit of 1 hour. Fines for repeat offenders were raised to €1,500. Sources: The Local France and Politico and Reuters.
Olympics likely pushed back to 2021
A member of the International Olympic Committee said the Tokyo summer games would probably be postponed, most likely until next year. Sources: NPR, South China Morning Post and USA Today.
Global economy to take long-term hit
The OECD’s secretary general, Angel Gurría, said the coronavirus outbreak could cut world economic growth in half, to 1.5%, in 2020 and impact the economy “for years to come”. Sources: ABC News, BBC and CNBC.
Fed’s covid-19 monetary stimulus
The Federal Reserve, America’s central bank, said it would purchase assets such as corporate bonds “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.” In other words, it would print money in unlimited amounts. The Fed also said it would lend money to small and mid-sized businesses. Sources: Bloomberg, CNBC, Financial Times, The Guardian and Reuters.