COVID-19 Monitor

Last Updated:October 15, 2020

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Italy announces plans to ease travel restrictions starting June 3 (Washington Post) Published on: May 16, 2020 | Category: Global Response

Italy on Saturday moved to significantly unwind coronavirus-related movement restrictions, announcing plans to allow travel across the country as well as to and from abroad beginning June 3.
Such changes would restore many of the freedoms that were in place before Italy became the epicenter for the virus’s spread in Europe.
Italy is under intense economic pressure to reopen its doors and revive its tourism sector, which normally accounts for 13 per cent of its GDP.

Amazon planning to reopen its French warehouses from May 19 (Financial Post) Published on: May 15, 2020 | Category: Economic Impact, Global Response

Amazon said on Friday it aims to gradually reopen its French warehouses from May 19 as it finalizes an agreement with unions and work councils to end a dispute over coronavirus protection steps that closed the sites for more than one month.
The U.S. e-commerce giant’s six French warehouses, which employ about 10,000 people on permanent and interim contracts, have been closed since April 16 following court rulings that ordered it to restrict deliveries during the COVID-19 pandemic or face hefty fines.

Coronavirus: Lufthansa to resume some flights to Toronto in June (Global News) Published on: May 15, 2020 | Category: Canadian Business, Global Response

Lufthansa plans to resume flights to destinations including Los Angeles, Toronto and Mumbai next month as it begins to restore some of the capacity grounded by the coronavirus crisis, the German airline group said on Thursday.
Group airlines that had brought operations to a near halt will operate about 1,800 weekly flights to 130 destinations by the end of June, Lufthansa said in a statement.
“People want to and can travel again, whether on holiday or for business reasons,” Lufthansa sales chief Harry Hohmeister said in the group statement.

U.S. Economy Adds to Grim Records, Signaling Yearslong Recovery (Bloomberg) Published on: May 15, 2020 | Category: Canadian Business, Economic Impact

U.S. retail sales and factory output registered the steepest declines on record in April, illustrating a recession so deep that it will likely take years to fully recover.
Revenue at retailers and restaurants fell 16.4% from the prior month, almost double the 8.3% drop in March which was previously the worst in data back to 1992, according to a Commerce Department report released Friday.
That compared with the median projection for a 12% decline.

How Investors Can Navigate Pandemic-Related Risk in Emerging Markets (HBR) Published on: May 15, 2020 | Category: Economic Impact, Leadership

In a few countries there are already early signs of political instability and civil unrest; in others the political effects will become clearer as the virus and government responses unfold over the months ahead.
Business environments in these locations were already complex, but the pandemic makes the politics even more complicated and the relationships and information needed to navigate them even harder to access.
Foreign investors will, at a minimum, face two widespread yet underappreciated risks.

Coronavirus: Can China test all of Wuhan in only 10 days? (BBC) Published on: May 15, 2020 | Category: Global Response

China is drawing up ambitious plans to test the entire population of Wuhan, the city where the Covid-19 pandemic began.
There are more than 60 testing centres across the city, according to the official Hubei Daily newspaper.
The authorities say they have now tested more than three million people in the city.

Coronavirus ‘could cost global economy $8.8tn’ says ADB (BBC) Published on: May 15, 2020 | Category: Economic Impact

The coronavirus pandemic could cost the global economy between $5.8tn and $8.8tn (£4.7tn-£7.1tn), according to Asian Development Bank (ADB).
That’s more than double last month’s prediction and equates to 6.4%-9.7% of the world’s economic output.

Tesla employees who don’t return to work could lose unemployment benefits (TechCrunch) Published on: May 14, 2020 | Category: Economic Impact, Leadership

Furloughed Tesla employees who are called back to work could lose unemployment benefits if they choose to stay at home due to COVID-19 concerns, the company’s head of human resources Valerie Workman wrote in an email sent to workers Wednesday.
Musk has lobbed repeated criticisms at Alameda County and its health officials for extending a stay-at-home order to the end of May. Over the weekend, Musk threatened to pull Tesla operations out of the state and sue the county.
Tesla filed a lawsuit against the county Saturday seeking injunctive relief.

McDonald’s Details What Dining In Will Look Like (NY Times) Published on: May 14, 2020 | Category: Canadian Business, Economic Impact

The fast-food chain distributed a guide to franchise owners with instructions like putting “closed” signs on tables to promote social-distancing and cleaning bathrooms every half-hour.
Once a local government says that restaurants can admit dine-in guests, a McDonald’s official in that region will decide whether reopening can begin, it says. Then individual franchise owners will make a decision about whether to go through with reopening.
Unlike the small, independent restaurants that have been battered during the pandemic, McDonald’s was in a good position to weather the economic fallout. Its drive-throughs have stayed open, and they accounted for about two-thirds of the company’s revenue before the crisis.

Economic Shock of Virus Hit Lower-Income Households Harder, Fed Finds (WSJ) Published on: May 14, 2020 | Category: Economic Impact

Almost 40% of households earning less than $40,000 a year experienced at least one job loss in March, versus 19% of households earning between $40,000 and $100,000 and 13% of those earning more than $100,000, the Fed said.
And while 85% of those with no work disruption said they could pay the current month’s bills in full, just 64% of those who had lost a job or had their hours cut said they could cover their expenses for the month, the Fed said in the report released Thursday.
The survey reveals a rapidly widening gap between those households that experienced the early economic effects of the pandemic and those that were spared.

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