Coronavirus live updates: IRS moves tax filing deadline, JC Penney yanks earnings outlook

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 245,000, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 10,031, according to Hopkins data.
  • US cases: At least 14,250, according to Hopkins.
  • US deaths: At least 205, according to the CDC and state health officials.

On Friday, Spain’s health emergency chief reported that the country’s death toll from the coronavirus outbreak had soared to 1,002, up from 767 on Thursday. Speaking to state radio Thursday, Isabel Diaz Ayuso, the president of the region of Madrid, said eight out of 10 people in the city would contract COVID-19.

Spain is second only to Italy for coronavirus-related cases and deaths in Europe, which has become the epicenter of the outbreak.

The World Health Organization has advised all countries to adopt a mix of interventions based on an analysis of the local situation and context, with containment as a major pillar. —Sam Meredith

The IRS will move the national income tax filing day to July 15, three months after the normal deadline for Americans to send in their returns.

The move announced by Treasury Secretary Steven Mnuchin is the latest in a series of highly unusual emergency measures to deal with the financial fallout of the coronavirus pandemic.

Mnuchin said the extension will give “all taxpayers and business this additional time” to file returns and make tax payments “without interest or penalties.” —Dan Mangan, Darla Mercado

J.C. Penney has withdrawn its earnings outlook due to the uncertainty surrounding COVID-19.

The department store chain announced Friday it is not providing an updated outlook at this time.

On Wednesday, Penney said it would close all of its stores across the country at least until April 2 in the fight against the pandemic. It did not clarify whether or not it would be paying workers during this time. A spokesperson declined to comment.

Penney is also postponing its analyst day, which had been set for April 7, until future notice. —Lauren Thomas

Shake Shack founder Danny Meyer told CNBC that it’s going to take some time for restaurants to reopen once the coronavirus pandemic has slowed.

“It’s going to take a good month or so to recruit our teams back and to get train them, trained before we could serve like we used to,” Meyer said on “Squawk on the Street.”

Meyer’s Union Square Hospitality Group laid off about 2,000 workers on Wednesday. —Kevin Stankiewicz

Source: https://www.cnbc.com/2020/03/20/coronavirus-latest-updates.html

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