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Total confirmed cases: More than 60,300
Total deaths: At least 1,369
Airbnb is suspending bookings in Beijing until May as the rapid spread of coronavirus prompts new local restrictions for the home-sharing giant. Customers who had reservations in Beijing between Feb. 7 and April 30 will be refunded, a spokesman for the travel start-up said, adding that the company was following local government guidance. Coronavirus presents a new headwind Airbnb, which is targeting this year for a long-awaited initial public offering. Bookings in Wuhan, the epicenter of the virus, are suspended until March 31. In the Yongchuan district in Chongqing in central China and Wuxi, near Shanghai, there is a freeze until Feb. 20. The spread of the virus has roiled travel to China and elsewhere, driving down business travel and attendance at high-profile events. âJosephs
Kraft Heinz CEO Miguel Patricio told Bloomberg that the food giant has closed some of its eight plants in China due to the outbreak. The company has already banned global employee travel to and from China. Kraft’s stock was recently down 7% after it reported declining sales during its fourth quarter and said it would delay the announcement of its turnaround plan until May. -Lucas
Longtime stock bull Jeremy Siegel told CNBC’s “Squawk Box”Â the Dow Jones Industrial Average would easily crack 30,000 if it weren’t for the market uncertainty around the coronavirus outbreak. “If there is good news on this virus front, we would pop above 30,000 I think without question,” said the Wharton Finance professor, as stocks were falling. The Dow was still less than 2% away from 30,000. The Dow closed at a record of 29,551 on Wednesday. âBelvedere
High-end fashion retailer Ralph LaurenÂ said it has closed about two-thirds of its stores in mainland China, saying that it expects a larger impact to its business in China and other parts of Asia than previously anticipated. It attributed the new outlook “to significantly reduced travel and retail traffic.” It said its fourth-quarter fiscal 2020 sales are expected to be hit by $55 million to $70 million, with operating income in Asia lowered by $35 million to $45 million. And it could become worse if the coronavirus outbreak widens.Â Earlier this month, Ralph Lauren had told analysts it had closed about half of its roughly 110 locations in China. It said China represents about 4% of its overall business.Â âThomas