Coronavirus live updates: Trump to hold news conference with CDC, Toyota warns of supply chain disruption

This is a live blog. Please check back for updates.

All times below are in Eastern time.

Total confirmed cases: More than 81,000
Total deaths: At least 2,764

President Donald Trump revealed in a tweet Wednesday that he will hold a news conference at the White House with CDC officials on the coronavirus at 6 p.m. ET. The president made the announcement after attacking the media for “panicking markets” through their coverage of the virus. —Breuninger.

said operations at its plants in Japan might be affected by supply-chain issues due to the coronavirus outbreak in the coming weeks, as the global outbreak picks up. The automaker, which operates 16 vehicle and components sites in Japan, said it would decide on how to continue operations at its domestic plants from the week of March 9, after keeping output normal through next week. Plants could be affected by potential supply disruptions in China as some plants in the epicenter of the outbreak are unable to produce and transport goods, while some plants remain closed under orders by regional authorities. —Reuters

Global mining group Rio Tinto warned that the outbreak might create challenging conditions over the next six months, with more disruptions to global supply chains and potential delays to projects in Australia. The miner’s warning comes on the heels of its best underlying earnings since 2011, buttressed by a sizable jump in iron ore prices last year. However, 2020 looks uncertain with economic activity stalling in many parts of China as it grapples to contain the virus. “Today, our iron ore books are full. But we are likely to see some short-term impact such as on supply chains and possibly in provisional services from Chinese suppliers,” Chief Executive Jean-Sebastien Jacques told reporters in a teleconference. —Reuters

Diageo said Wednesday the spread of the coronavirus in Asia could knock up to $260 million off its profit in 2020. Trade has been significantly disrupted since the end of January and the group expects this to last at least into March. After that, Diageo anticipates a gradual improvement with consumption returning to normal levels toward the end of fiscal 2020. The company estimated the negative impact of the virus outbreak on the group’s organic net sales and organic operating profit to be 225 million to 325 million pounds and 140 million to 200 million pounds ($260 million) respectively. It cautioned that these ranges exclude any impact of coronavirus on its other markets beyond China and Asia Pacific. —Reuters

Source: https://www.cnbc.com/2020/02/26/coronavirus-latest-updates.html

You may like

In the news
Load More