https://youtu.be/e2nryqPGEF8

(Reuters) – The British government is planning to buy equity stakes in airlines and other companies affected by the coronavirus pandemic, the Financial Times reported. The government plans to invest billions of pounds in companies including IAG-owned British Airways (ICAG.L) in return for shares that would eventually be sold back to private investors, the newspaper reported, citing people familiar with the matter. The move comes after the government was warned that its economic support packages, including a 330 billion-pound ($385 billion) lifeline of loan guarantees, will not be enough to save companies from collapse, the paper reported. Transport Minister Grant Shapps spoke to major airports and airlines on Wednesday about how the government could support the industry. Discussions about a support package for airlines and airports are ongoing. The United Kingdom has reported 3,983 coronavirus infections and 177 deaths.

WASHINGTON (Reuters) – 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.

ten years ago my research turned up this report

Chloroquine is a potent inhibitor of SARS coronavirus infection and spread

Martin J Vincent,¹ Eric Bergeron,² Suzanne Benjannet,² Bobbie R Erickson,¹ Pierre E Rollin,¹ Thomas G Ksiazek,¹ Nabil G Seidah,² and Stuart T Nichol¹

Ford Motor Co (F.N), General Motors Co (GM.N) and Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) confirmed the decisions to shut U.S. plants, as well as factories in Canada and Mexico.

The Detroit automakers’ shares took a beating on Wednesday, with GM closing 17.3% lower, Ford off 10.2% and Fiat Chrysler shares ending 9.2% lower in New York. The carmakers’ North American factories build their most profitable trucks and sport utility vehicles, such as Fiat Chrysler’s Jeep Wrangler, GM’s Chevrolet Silverado pickup and the Ford F-series truck line.

The actions come less than a day after the automakers and the United Auto Workers union agreed to keep plants running with reduced shifts and staffing, and more time allowed for cleaning.

The Senate passed the House’s coronavirus aid package on Wednesday, sending it to President Trump, who is expected to sign it. Senators voted 90-8 on the bill that passed the House in a middle-of-the-night Saturday vote but needed dozens of pages of corrections and changes, which cleared the chamber on Monday. The measure, which the Joint Committee on Taxation estimates will cost $104 billion, is the second package that Congress has passed amid growing concerns about the widespread coronavirus outbreak in the United States that has already bludgeoned the economy. The vote on the second package comes as senators are already working on “phase three,” with Senate Republicans wanting to pass next tranche next week. The third coronavirus bill is expected to include help for impacted small businesses, industries and families, including direct cash payments for Americans. McConnell has created GOP task forces for drafting the bill. Republicans briefed their colleagues during a closed-door lunch on Wednesday and are expected to hand over their work product by Thursday. The majority leader told reporters after a closed-door lunch that Republicans were “getting close” and “hoping to be together shortly.” The bill approved Wednesday bolsters unemployment insurance and guarantees free diagnostic testing for the coronavirus.It also provides up to 10 days of paid sick leave for some workers. It caps that at companies with 500 employees and would allow for those with fewer than 50 to apply for a waiver. But the bill’s path through the Senate wasn’t without drama. The House bill, which was negotiated by Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin, sparked fierce opposition from some Senate Republicans, who were largely sidelined from the talks. Senate Majority Leader Mitch McConnell (R-Ky.) tipped his hand to the frustration ahead of Wednesday’s vote. “I will vote to pass their bill. This is a time for urgent bipartisan action, and in this case, I do not believe we should let perfection be the enemy of something that will help even a subset of workers,” McConnell said. “However, the House’s bill has real shortcomings. It does not even begin to cover all of the Americans who will need help in the days ahead,” he added. Continue reading “Senate passes House’s coronavirus aid bill, sending it to Trump”

WASHINGTON – President Donald Trump confirmed that he plans to invoke a provision that would allow him to prohibit certain people from entering the country, including asylum seekers and those entering the country illegally at the southern border. “The answer’s yes,” Trump told reporters when asked about the code, adding that he plans to invoke it “very soon. Probably today.” The administration will invoke 42 U.S. Code 265, a section of the federal legal code that states the U.S. surgeon general “shall have the power to prohibit, in whole or in part, the introduction of persons and property from such countries or places as he shall designate in order to avert such danger, and for such period of time as he may deem necessary for such purpose.” President Donald Trump said he is invoking the Defense Production Act, which allows the administration to expedite and expand the supply of resources. Trump did not say specifically what powers he would execute, but the act could allow him to step up production of respirators and other medical equipment. Trump declined to say how, precisely, the Defense Production Act would be used and he suggested that the administration is still deciding. He said the administration had “targets” for equipment it wanted but did not say what those targets were. “We need millions of masks,” Trump said. “We need respirators.” The announcement comes as the White House and Congress negotiate a trillion-dollar economic stimulus plan to combat the impacts of the coronavirus outbreak. Continue reading “Trump invokes wartime authority of Defense Production Act to address coronavirus crisis”