Coronavirus live updates: US retail closures could explode, Irans deaths surge

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 169,387, according to Johns Hopkins University.
  • Global deaths: At least 6,513, according to Johns Hopkins University.
  • US cases: At least 3,774, according to Johns Hopkins University.
  • US deaths: At least 69, according to Johns Hopkins University.

The year 2019 brought with it record store closures in the retail industry in the U.S., and 2020 looks like it is about to be a lot worse. Retail store closures this year are now on pace to be “double what we saw last year,” which was a record year, said Deborah Weinswig, CEO and founder of retail advisory and research firm Coresight Research. “I think that is already in motion. … If [COVID-19] stays longer, it will be greater.” —Lauren Thomas

Iran’s death toll has reached 853, with 129 new deaths in the past 24 hours, a health ministry official tweeted on Monday, adding that 14,991 people have been infected across Iran. “In the past 24 hours we had 1,053 confirmed new cases of coronavirus and 129 new deaths,” Alireza Vahabzadeh tweeted. To contain the outbreak in Iran, one of the deadliest outside of China, officials have called on people to stay at home. —Reuters

U.K. Prime Minister Boris Johnson will ask manufacturers to support the production of essential medical equipment, such as ventilators, for the National Health Service, as the country prepares for the outbreak to worsen.

“Preparing for the spread of the coronavirus outbreak is a national priority and we’re calling on the manufacturing industry and all those with relevant expertise who might be able to help to come together to help the country tackle this national crisis,” a Downing Street spokesperson said late Sunday.

“We need to step up production of vital equipment such as ventilators so that we can all help the most vulnerable, and we need businesses to come to us and help in this national effort.” —Holly Ellyatt

The German economy ministry said the impact of COVID-19 meant it no longer expected an economic upswing in the first quarter, Reuters reported. The ministry added that the economy was unlikely to stabilize before the third quarter at the earliest. “The strength and duration of the impact cannot yet reliably be forecast,” the ministry said. “But given the very rapid pace of developments, we have to anticipate significant economic impacts.” —Holly Ellyatt

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

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