Coronavirus live updates: Virus hits small business owners, Iran says two test positive for virus

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  • Total confirmed cases: More than 75,200
  • Total deaths: At least 2,000

Bernie Thompson, CEO and founder of Plugable Technologies, which sells USB, Bluetooth and power devices and partners with 15 factories in China, told CNBC’s “Squawk Box” that he is expecting the virus to disrupt his supply chain during March and April the most because securing any extra inventory will take at least two months to move through the supply chain. Thompson has also had trouble with factories outside of China since it only takes one part built in the country to disrupt the entire supply chain, especially in the electronics industry, he said. —Higgins-Dunn

As coronavirus spreads around the world, small business owners who import from China are on edge. CNBC spoke with Kyle Kirshner, who has been doing business in China for several years. He knew to stock up on supplies ahead of the Lunar New Year, but prolonged factory shutdowns threatened his business and that of others who import products from China. Kirshner owns Kyndley, which sells outdoor products via Amazon and imports 90% of its goods from China. He expects his supply will be impacted within a month if things don’t turn around. And if he doesn’t have product to list on Amazon, his rankings may drop and hurt sales. — Rogers

China has revoked the press credentials of three journalists of the Wall Street Journal after the newspaper declined to apologize for a column that called China the “real sick man of Asia,” China’s foreign ministry said. Spokesman Geng Shuang told a daily briefing that Beijing made several representations to the paper over the column, which China criticized as racist and denigrating its efforts to combat the coronavirus epidemic, but that the paper had failed to apologize or investigate those responsible. Deputy Bureau Chief Josh Chin and reporter Chao Deng, both U.S. nationals, as well as reporter Philip Wen, an Australian national, have been ordered to leave the country within five days, said Jonathan Cheng, the WSJ reported. — Feuer

German sportswear maker Adidas said that business in China had dropped by about 85% year-on-year as the coronavirus outbreak has resulted in store closures and fewer customers visiting the remaining outlets. Adidas said it had seen lower traffic, mainly in Japan and South Korea, but added that it had not yet registered any major business impact beyond Greater China. “As the situation keeps evolving on a daily basis, the magnitude of the overall impact on our business for the full-year 2020 cannot be quantified reliably at this point in time,” it said. — Reuters

Source: https://www.cnbc.com/2020/02/19/coronavirus-latest-updates.html

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