Coronavirus live updates: CFOs sound alarm, Germany cases jump

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 179,000, according to Johns Hopkins University.
  • Global deaths: At least 7,057, according to Johns Hopkins University.
  • US cases: At least 4,138, according to Johns Hopkins University.
  • US deaths: At least 71, according to Johns Hopkins University.

The Trump administration is grappling with which industries to bail out as thousands of businesses in the U.S. grind to halt amid severe measures to curb the spread of the deadly coronavirus.

The U.S. could lose 8.2 million international visitors this year. That’s more than the country lost in the two years following 9/11. That’s lost revenue not only for airlines and hotels, but also for restaurants, retailers and airports. In some states, malls, gyms and movie theaters are shuttering and officials are telling restaurants to offer only take-out options.

“I don’t see how we get through this without wide-scale systemic solutions,” said one top tier-investor. “We’re going to have to rewrite the rules to get to the other side.” —Lauren Hirsch, Leslie Josephs

The potential for COVID-19 to lead to a global economic downturn is the top concern for finance leaders in the U.S. and Mexico, according to a new survey of chief financial officers by PwC. Of those surveyed, 54% of respondents say the outbreak has the potential for “significant” impact to business operations, however 90% say their business would return to normal in less than 3 months if the COVID-19 outbreak were to end immediately. The survey included 50 financial leaders, 80% are whom are from Fortune 1000 companies. —Michael Wayland

How do you get your money back if your plans have been canceled? While some policies are straightforward, others may be less clear.

The first thing you should do is just wait and see, especially since it is hard to get through to companies right now, said Ted Rossman, industry analyst for CreditCards.com.

“Give it a week or two,” he said. “There is a good chance you will see an automatic refund processed onto your card.”

That may be true for large public events, like Broadway shows, but may not apply to smaller ones. Here’s how to get money back if coronavirus forced the cancellation of your wedding or public event. —Michelle Fox

Washington Gov. Jay Inslee said Monday he signed an emergency declaration temporarily shutting down bars, restaurants and other places of recreation statewide. He also banned public gatherings of more than 50 people. The move follows similar measures announced earlier Monday by New York and surrounding states. “Never since World War II have we faced a situation like this,” Inslee said. “For the next several weeks, normal is not in our game plan.” —Will Feuer

Source: https://www.cnbc.com/2020/03/16/coronavirus-live-updates-us-retail-closures-could-explode-irans-deaths-surge.html

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