Closed Chicago Theatre is seen in Chicago, Illinois, on March 21, 2020.
This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This live blog will be updated throughout the day as the news breaks.
- Global cases: More than 311,000
- Global deaths: At least 13,407
- U.S. cases: At least 26,747
- U.S. deaths: At least 340
The data above was compiled by Johns Hopkins University
10:45 am: FEMA unclear about mask quantity and distribution
FEMA administrator Pete Gaynor did not offer a solid timeline for when the national stockpile of masks will be distributed or give a number for how many masks are currently being shipped.
“We are shipping all those supplies to all the demands, to all the asks from the governors every day,” Gaynor said on ABC News’ “This Week.”
He said that there are still masks in the national stockpile, but that FEMA is prepared to “go to zero” to meet demand. He cited New York, Washington state and California as critical hotspots where masks are being sent.—Hannah Miller
10:20 am: Illinois governor says states are competing for supplies — ‘It’s a Wild West out there’
llinois Gov. JB Pritzker said the state only received a fraction of supplies requested from FEMA. The shortage of supplies continues to result in states and countries compete against each other for critical personal protective equipment in the open market.
“This should have been a coordinated effort by the federal government…It’s a Wild West out there…Indeed we’re overpaying for PPE because of that competition,” Pritzker said on CNN’s “State of the Union.”
The governor also mentioned that there should have been a national stay at home order. Pritzker said he instituted one for his state because he has to protect the 12.7 million people that live in Illinois.
“It will work…Unless we tell people to stay home and to stop interacting in the way that they were, we’re going to see…tens of thousands of more deaths,” Pritzker said. —Alexandria White
10:08 am: Mnuchin working with Fed to provide $4 trillion in liquidity, trying to reach deal today with Congress
Secretary of the Treasury Steve Mnuchin said Sunday the administration is working with the Federal Reserve to offer up to $4 trillion in liquidity financing that can be used to support the economy.
“We can lever up to $4 trillion to help everything from small businesses to big businesses to get through the next 90 to 120 days,” Mnuchin said on Fox News Sunday.
Mnuchin also said the administration is trying to reach a deal with Congress today regarding an economic relief package that could top $1.8 trillion. Highlights of the package include small business retention loans that would give businesses two weeks of cash flow, a direct deposit for Americans with the average deposit being $3,000 for a family of four and enhanced unemployment insurance for people laid off because of the coronavirus.
Hospitals would also receive approximately $110 billion in aid, according to Mnuchin. —Hannah Miller
About Covid19 signs are seen at the Times Square in New York City, United States on March 20, 2020.
Tayfun Coskun | Anadolu Agency | Getty Images
9:25 am: Virus outbreak in NYC will worsen, de Blasio says
New York City Mayor Bill de Blasio said the coronavirus pandemic will worsen in the next few months and urged the federal government to employ the U.S. military to help combat the outbreak.
“The president will not lift a finger to help his hometown. … I can’t be blunt enough: If the president does not act, people will die who could have lived otherwise,” the mayor said on NBC News’ “Meet the Press.”
The mayor said that ventilators produced anywhere in the country should be sent to New York within the next 10 days. The state has become the most affected area in the country and is seeing a surge in cases every day.
A bulk of the cases are in New York City, which now accounts for about one-third of all cases in the the country.
“Our federal government needs to be in this fight rather than on the sidelines,” de Blasio said. —Emma Newburger
8:39 am: Airlines tell Congress they need cash coronavirus aid or thousands will be furloughed
U.S. airlines on Saturday warned they will have to furlough workers unless Congress approves a $58 billion aid package that includes grants, not only loans, as the industry reels from the impact of coronavirus.
Senate Republicans last week proposed legislation that included a $58 billion in aid for passenger and cargo carriers, but in the form of loans airlines would later have to repay.
“Time is running out,” wrote the CEOs of Southwest, Delta, Alaska, American, United, JetBlue, Hawaiian, UPS Airlines and FedEx, and their lobbying group, Airlines for America, to congressional leaders. It was one in a series of grim messages from airline chiefs and labor unions this week about the abrupt collapse in bookings that coronavirus caused and the potential toll on workers. “Unless worker payroll protection grants are passed immediately, many of us will be forced to take draconian measures such as furloughs.”
U.S. airlines employ close to 750,000 people and airlines are now shrinking their international networks to the smallest in decades, cutting thousands of domestic flights, parking hundreds of jets and urging employees to take unpaid leave, in a bid to save cash as demand crumbles. —Leslie Josephs
7:42 am: Fed’s Bullard says shutdown is not a recession but an investment in survival
In normal times massive unemployment and a collapse in economic output would be tragic.
This time, as the coronavirus cloisters millions of Americans and shuts down the U.S. economy, it should instead be saluted as an investment in public health that lays the groundwork for a rapid rebound.
That is the view of St. Louis Federal Reserve President James Bullard, who argues that a potential $2.5 trillion hit coming to the economy is both necessary and manageable if officials move fast and keep it simple. It may seem an unconventional view in a moment of global anxiety, but Bullard argues the shutdown measures now being rolled out are essential to shortening the course of the pandemic.
They must also be coupled with massive federal government support to sustain the population through its coming isolation and prime the economy to pick up where it left off.
To Bullard that means: Match any lost wages. Match any lost business. No questions asked. —Reuters
6:51 am: Spain’s death toll passes 1,700, cases exceed 28,000
Spain’s death toll rose to 1,720 from a previous count of 1,326 on Sunday, according to multiple media reports citing the most recent health data, which also reported cases at 28,572 from a previous tally of 24,926. Spain is currently under nationwide lockdown.
Spain’s prime minister is seeking to extend the country’s 15-day state of emergency, first declared on March 14, for a further 15 days to stem the spread of the coronavirus outbreak, which is the second-worst in Europe.
4:48 am: U.K. receives new ventilator prototypes: housing minister
Manufacturing of new ventilators should start “quickly,” U.K. Housing Minister Robert Jenrick said Sunday, discussing the first of the new ventilator prototypes the country has received to help its health services fight the coronavirus pandemic.
“We’ve been overwhelmed with offers of support. There’s now a number of manufacturers who are working with us,” Jenrick told Sky News in an interview Sunday. There are currently 13,000 ventilators available for use by the country’s National Health Service, he said, but stressed that more are needed.
Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: Spain death toll passes 1,700, India begins curfew
7 April 2020 News release WHO and partners call for urgent investment in nurses – World Health Organization
The Covid-19 pandemic underscores the urgent need to strengthen the global health workforce. A new report, The State of the World’s Nursing 2020, provides an in-depth look at the largest component of the health workforce. Findings
identify important gaps in the nursing workforce and priority areas for investment in nursing education, jobs, and leadership to strengthen nursing around the world and improve health for all.
Nurses account for more than half of all the world’s health workers, providing vital services throughout the health system. Historically, as well as today, nurses are at the forefront of fighting epidemics and pandemics that threaten health across
the globe. Around the world they are demonstrating their compassion, bravery and courage as they respond to the COVID-19 pandemic: never before has their value been more clearly demonstrated.
‘Nurses are the backbone of any health system. Today, many nurses find themselves on the frontline in the battle against Covid-19,’ said Dr Tedros Adhanom Ghebreyesus, WHO Director General. ‘This report is a stark reminder of the unique role they play, and a wakeup call to ensure they get the support they need to keep the world healthy.’
The report, by the World Health Organization (WHO) in partnership with the International Council of Nurses (ICN) and Nursing Now, reveals that today, there are just under 28 million nurses worldwide. Between 2013 and 2018, nursing numbers increased
by 4.7 million. But this still leaves a global shortfall of 5.9 million – with the greatest gaps found in countries in Africa, South East Asia and the WHO Eastern Mediterranean region as well as some parts of Latin America.
Revealingly, more than 80 per cent of the world’s nurses work in countries that are home to half of the world’s population. And one in every eight nurses practices in a country other than the one where they were born or trained. Ageing also
threatens the nursing workforce: one out of six of the world’s nurses are expected to retire in the next 10 years.
To avert the global shortage, the report estimates that countries experiencing shortages need to increase the total number of nurse graduates by on average 8% per year, along with improved ability to be employed and retained in the health system. This
would cost roughly USD 10 per capita (population) per year.
“Politicians understand the cost of educating and maintaining a professional nursing workforce, but only now are many of them recognizing their true value,” said ICN President Annette Kennedy. “Every penny invested in nursing raises the wellbeing of people and families in tangible ways that are clear for everyone to see. This report highlights the nursing contribution and confirms that investment in the nursing profession is a benefit to society, not a cost. The world needs millions more nurses, and we are calling on governments to do the right thing, invest in this wonderful profession and watch their populations benefit from the amazing work that only nurses can do.”
About 90 per cent of all nurses are female, yet few nurses are found in senior health leadership positions– the bulk of those positions are held by men. But when countries enable nurses to take a leadership role, for example by having a government chief
nursing officer (or equivalent), and nursing leadership programmes, conditions for nurses improve.
“This report places much-needed data and evidence behind calls to strengthen nursing leadership, advance nursing practice, and educate the nursing workforce for the future,” said Lord Nigel Crisp, Co-Chair of Nursing Now. “The policy options reflect actions we believe all countries can take over the next ten years to ensure there are enough nurses in all countries, and that nurses use of the full extent of their education, training, and professional scope to enhance primary health care delivery and respond to health emergencies such as COVID-19. This must start with broad and intersectoral dialogue which positions the nursing evidence in the context of a country’s health system, health workforce, and health priorities.”
To equip the world with the nursing workforce it needs, WHO and its partners recommend that all countries:
- increase funding to educate and employ more nurses;
- strengthen capacity to collect, analyze and act on data about the health workforce;
- monitor nurse mobility and migration and manage it responsibly and ethically;
- educate and train nurses in the scientific, technological and sociological skills they need to drive progress in primary health care;
- establish leadership positions including a government chief nurse and support leadership development among young nurses;
- ensure that nurses in primary health care teams work to their full potential, for example in preventing and managing noncommunicable diseases;
- improve working conditions including through safe staffing levels, fair salaries, and respecting rights to occupational health and safety;
- implement gender-sensitive nursing workforce policies;
- modernize professional nursing regulation by harmonizing education and practice standards and using systems that can recognize and process nurses’ credentials globally; and
- strengthen the role of nurses in care teams by bringing different sectors (health, education, immigration, finance and labour) together with nursing stakeholders for policy dialogue and workforce planning.
The report’s message is clear: governments need to invest in a massive acceleration of nursing education, creation of nursing jobs, and leadership. Without nurses, midwives, and other health workers, countries cannot win the battle against outbreaks,
or achieve universal health coverage and the Sustainable Development Goals.
Choice Properties Real Estate Investment Trust Assisting Tenants Confronting Challenges from COVID-19 – Yahoo Finance
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="TORONTO , April 6, 2020 /CNW/ – Choice Properties Real Estate Investment Trust ("Choice Properties" or the "Trust") (CHP-UN.TO) today provided an update on its response to the COVID-19 pandemic.” data-reactid=”13″>TORONTO , April 6, 2020 /CNW/ – Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (CHP-UN.TO) today provided an update on its response to the COVID-19 pandemic.
As one of Canada’s largest landlords, Choice Properties understands that it has an important role to play in helping Canadians and their businesses during these unprecedented and challenging times. With many of the Trust’s tenants being negatively impacted by the pandemic, the Trust is prepared to assist qualifying small businesses and independent tenants who have requested rent relief, on a case by case basis, with a temporary rent deferral for 60 days. “We understand and acknowledge the extraordinary financial pressures on parts of our tenant base, especially on independent and smaller businesses, and we want to do our part to help them. Many of these small businesses are facing extraordinary drops in revenues and are rightfully focused on taking care of their families and their communities. We intend to continue working with our tenants on an individual basis to find solutions in the short term,” said Galen Weston , Chairman of Choice Properties. Mr. Weston added, “Our top priority remains ensuring the health and well-being of our employees and tenants and supporting the communities in which we and our tenants operate.”
“With a diversified base of tenants and a high proportion of necessity-based retailers, including Loblaw which accounts for approximately 55% of our annual rental revenue, Choice Properties is well-positioned to weather this market volatility. Since the beginning of 2019, we have made significant progress in strengthening our balance sheet, including refinancing our unsecured debt maturities, lowering our leverage and improving overall liquidity,” noted Rael Diamond , President and Chief Executive Officer of the Trust.
Given the uncertainty about the duration and impacts of the COVID-19 pandemic, the Trust is withdrawing its 2020 Outlook that is contained in its Management’s Discussion and Analysis for the year ended December 31, 2019 . The Trust intends on releasing its 2020 first quarter results on or about April 22, 2020 .
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About Choice Properties Real Estate Investment Trust” data-reactid=”29″>About Choice Properties Real Estate Investment Trust
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Choice Properties, Canada's preeminent diversified real estate investment trust, is the owner, manager and developer of a high-quality portfolio comprising 724 properties totaling 65.6 million square feet of gross leasable area. Choice Properties owns a portfolio comprised of retail properties predominantly leased to necessity-based tenants; industrial, office and residential assets concentrated in attractive markets; and offers an impressive and substantial development pipeline. Choice Properties' strategic alliance with its principal tenant, Loblaw Companies Limited, the country's leading retailer, is a key competitive advantage providing long-term growth opportunities. For more information, visit Choice Properties' website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedar.com.” data-reactid=”30″>Choice Properties, Canada’s preeminent diversified real estate investment trust, is the owner, manager and developer of a high-quality portfolio comprising 724 properties totaling 65.6 million square feet of gross leasable area. Choice Properties owns a portfolio comprised of retail properties predominantly leased to necessity-based tenants; industrial, office and residential assets concentrated in attractive markets; and offers an impressive and substantial development pipeline. Choice Properties’ strategic alliance with its principal tenant, Loblaw Companies Limited, the country’s leading retailer, is a key competitive advantage providing long-term growth opportunities. For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedar.com.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Forward-Looking Statements” data-reactid=”31″>Forward-Looking Statements
This press release may contain forward-looking information within the meaning of applicable securities legislation, including with respect to the announced rent deferrals and impact of the COVID-19 pandemic, which reflects Choice Properties’ current expectations regarding future events. Given this unprecedented period of uncertainty, there can be no assurance regarding: (a) the impact of COVID-19 on Choice Properties’ business, operations and performance, including its ability to meet or remain on track to meet or exceed its stated 2020 financial outlook, which has now been withdrawn; (b) Choice Properties’ ability to mitigate such impacts; (c) credit, market, currency, operational, and liquidity risks generally; and (d) other risks inherent to Choice Properties’ business and/or factors beyond its control which could have a material adverse effect on the Trust.
Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Choice Properties’ control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed in Choice Properties’ current Annual Information Form and uncertainty related to the ongoing COVID-19 pandemic. Choice Properties does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements contained in this press release are made as of the date hereof and are qualified by these cautionary statements.
SOURCE Choice Properties Real Estate Investment Trust
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2020/06/c6793.html” data-reactid=”67″>View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2020/06/c6793.html
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content=" /* Style Definitions */ span.prnews_span font-size:8pt; font-family:"Arial"; color:black; a.prnews_a color:blue; li.prnews_li font-size:8pt; font-family:"Arial"; color:black; p.prnews_p font-size:0.62em; font-family:"Arial"; color:black; margin:0in; ” data-reactid=”68″> /* Style Definitions */ span.prnews_span font-size:8pt; font-family:”Arial”; color:black; a.prnews_a color:blue; li.prnews_li font-size:8pt; font-family:”Arial”; color:black; p.prnews_p font-size:0.62em; font-family:”Arial”; color:black; margin:0in;
Firm Capital Mortgage Investment Corporation (TSX Symbol FC) Announces April Dividends – GlobeNewswire
TORONTO, April 06, 2020 (GLOBE NEWSWIRE) — Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX: FC) announces its monthly dividend of $0.078 per share payable to Shareholders of record on April 30, 2020.
|Record Date||Dividend Payable|
|April 30, 2020||May 15, 2020|
The Corporation has in place a Dividend Reinvestment Plan (“DRIP”) and Share Purchase Plan that is available to its shareholders. Shareholders are reminded that they can participate in the Corporation’s Dividend Reinvestment Plan and Share Purchase Plan. Participant shareholders pay no commission for shares issued from treasury.
DIVIDEND REINVESTMENT PLAN (DRIP)
The DRIP allows participants to have their monthly cash dividends reinvested in additional shares of the Corporation. A 3% discount will only apply if the weighted average trading price, calculated five trading days immediately preceding each dividend date is higher than $14.10.
SHARE PURCHASE PLAN
Once registered with the Plan, participants have the right to purchase additional shares, totaling no greater than $12,000 per year and no less than $250 per month.
For further information, including answers to frequently asked questions about the program, please refer to our website: www.Firmcapital.com, and tab under the banner Firm Capital Mortgage Investment Corporation, which also includes enrollment information. If you have any questions, please contact Investor Relations at the Corporation by calling 416-635-0221.
ABOUT THE CORPORATION
Where Mortgage Deals Get Done®
The Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The Corporation’s investment objective is the preservation of Shareholders’ equity, while providing Shareholders with a stable stream of monthly dividends from investments. The Corporation achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to Shareholders. The Corporation is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act. Accordingly, The Corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. Full reports of the financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of Firm Capital, available on the SEDAR website at www.sedar.com. In addition, supplemental information is available on Firm Capital’s website at www.firmcapital.com.
This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning our objectives, our strategies to achieve those objectives, our performance, our mortgage portfolio and our dividends, as well as statements with respect to management’s beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue” or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.
These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in our Annual Information Form under “Risk Factors” (a copy of which can be obtained at www.sedar.com), which could cause our actual results and performance to differ materially from the forward-looking statements contained in this circular. Those risks and uncertainties include, among others, risks associated with mortgage lending, dependence on the Corporation’s MIC manager and mortgage banker, competition for mortgage lending, real estate values, interest rate fluctuations, environmental matters, Shareholder liability and the introduction of new tax rules. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information include, among others, that the Corporation is able to invest in mortgages at rates consistent with rates historically achieved; adequate mortgage investment opportunities are presented to the Corporation; and adequate bank indebtedness and bank loans are available to the Corporation. Although the forward-looking information continued in this new release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results and performance will be consistent with these forward-looking statements.
All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For further information, please contact:
Firm Capital Mortgage Investment Corporation
President & Chief Executive Officer (416) 635-0221
Innovative birds are less vulnerable to extinction | Newsroom – McGill Newsroom
Coronavirus plunges Canada’s economy into the abyss – Maclean's
Art 'hasn't failed us yet' – Winnipeg Free Press
Iran anticipates renewed protests amid social media shutdown
Popular Richmond BBQ spot speaks out about coronavirus rumours after man collapses outside restaurant – Vancouver Is Awesome
Real Estate Board of Greater Vancouver reports January housing sales up 42.4 percent
- Tech22 hours ago
5 Android apps you shoudn't miss this week! – Android Apps Weekly  – Android Authority
- Economy16 hours ago
The Economy Will Survive the Coronavirus – The Wall Street Journal
- Tech13 hours ago
Walmart Shopper Coughs & Spits on Employees Over Billing Dispute – TMZ
- Science20 hours ago
NASA news: Juno spacecraft's picture of Jupiter looks like a beautiful watercolour – Express.co.uk
- Health22 hours ago
Nova Scotia identifies 26 new cases of COVID-19, bringing total to 262 – TheChronicleHerald.ca
- Health3 hours ago
Coronavirus: Woman explains day-by-day symptoms of COVID-19 – 'literal fire in my lungs' – Express
- Business22 hours ago
Saudi Arabia, Russia Push Negotiations for Global Oil Pact – Yahoo Canada Finance
- News21 hours ago
COVID response offers chance to shift direction of Canadian economy: experts – CTV News