Coronavirus live updates: Buffett moves shareholder meeting online, English Premier League suspended

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 135,000, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 4,977, according to data compiled by Johns Hopkins University.
  • US cases: At least 1,701, according to data compiled by Johns Hopkins University.
  • US deaths: At least 40, according to data compiled by Johns Hopkins University.

Warren Buffett announced Friday that Berkshire Hathaway’s annual shareholder’s meeting will not be held with shareholders present as the coronavirus continues to spread. The meeting will be streamed online by Yahoo Finance. 

“I very much regret this action; for many decades the annual meeting has been a high point of the year for me and my partner, Charlie Munger,” Buffett said in a letter to shareholders. “It is now clear, however, that large gatherings can pose a health threat to the participants and the greater community.”

Berkshire’s annual meeting — which was slated for May 2 — has become a staple in the global business community. In 2018, more than 40,000 people from around the world attended the event known by some as “Woodstock for Capitalists.” —Fred Imbert

The government of Hubei, the epicenter of a coronavirus outbreak, has lowered the epidemic risk ratings of several cities and regions, leaving only the capital of Wuhan as “high risk” as of the end of March 12, according to the Hubei Daily, a state-owned local paper.

Compared to March 10, 18 more cities and counties in the province were lowered to low risk, while five fell to medium risk from high risk, it said. —Reuters

Small business owners are beginning to feel early impacts, such as supply-chain problems and lost sales. New data from the National Federation of Independent Business show that the current effects may be limited, but worries are big.

The group found that 74% of small businesses say they are not yet impacted by the pandemic, while 23% say they are being negatively affected. Just 3% report positive impacts. The group polled a random sample of 300 of its 300,000 members on Tuesday and Wednesday from employers with up to 120 workers. —Kate Rogers

For decades, the NYSE has had contingency plans to continue to operate in the event the floor might have to close.  At one point, there was even a “mirror” floor in Brooklyn. Today, the NYSE has plans to continue to operate electronically should the floor need to close.  Last weekend, the NYSE conducted a test of their trading systems to ensure they could open electronically without the floor. —Bob Pisani

Source: https://www.cnbc.com/2020/03/13/coronavirus-live-updates-english-premier-league-suspended-us-approves-new-test.html

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