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The Latest: Johnson in good spirits during hospitalization

Monday, April 6, 2020 | The Associated Press


Supermarket employees distribute protective masks to customers in Vienna, Austria, Wednesday, April 1, 2020. In Austria protective masks should be worn in shops from Wednesday on. The Austrian government has moved to restrict freedom of movement for people, in an effort to slow the onset of the COVID-19 coronavirus. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Ronald Zak)

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death.

TOP OF THE HOUR:

__ Britain Prime Minister Boris Johnson in good spirits despite hospitalization.

— Madrid's strained hospitals see decrease in incoming patients.

— Hungary announces second package of economic aid.

— Ireland’s premier returns to medical register for one shift a week.

___

LONDON — Britain Prime Minister Boris Johnson is reportedly in good spirits following his first night in the hospital for what his office described as a “precautionary step” after contracting the new coronavirus.

Johnson remains in charge of government despite being sent to St Thomas’ Hospital after COVID-19 symptoms of a cough and fever persisted. His spokesman James Slack says he remains in hospital under observation.

The 55-year-old leader had been quarantined in his Downing Street residence since being diagnosed with COVID-19 on March 26. He is the first known head of government to fall ill with the virus.

He has released several video messages during his 10 days in isolation.

___

MADRID — Health officials in Madrid say the strain of incoming patients is easing in hospitals and allowing authorities to think about how to start reverting those facilities to normal operations.

Patients awaiting treatment in emergency wards across the region of 6.6-million that has been hard hit by the new coronavirus went down Monday to 390 cases. That’s one tenth of the arrivals that were seen one week ago.

The number of people being treated for the coronavirus in intensive care units had fluctuated but stabilized at around 1,500 for five straight days.

Regional health minister Enrique Ruíz Escudero says officials are considering returning beds that have been used for positive COVID-19 patients to beds used for normal activity in hospitals.

The development follows a week of social media postings showing patients resting on the floor and in chairs at the suburban hospital.

___

BUDAPEST, Hungary — Hungary’s prime minister has announced a second package of economic measures meant to protect the country’s economy from the effects of the new coronavirus pandemic.

Prime Minister Viktor Orban says the measures would reallocate nearly around $32 billion of Hungary’s state budget while raising the budget deficit from 1% of GDP to 2.7%.

Orban says the aim is for Hungary to create as many jobs as the virus ruins.

Orban says the state will help pay some wages in the private sector and spend about $1.33 billion to support investments targeting job creation.

Hungary will also make available loans totaling some $5.9 billion for businesses and gradually boost pension payments from February 2021.

Opposition parties called for extending unemployment benefits and for immediate extra payments to pensioners and workers in the health sector.

Hungary has registered 744 coronavirus cases, with 38 deaths.

___

LONDON — Ireland’s premier will directly assist with the new coronavirus pandemic by returning to the health service for one shift a week.

Leo Varadkar is a qualified medical doctor and has rejoined the medical register.

He is one of thousands across Ireland who have answered the call to return to the health sector during the pandemic.

___

BERLIN — The organization that handles claims on behalf of Jewish victims of the Nazis says it is making millions of extra dollars available for elderly Holocaust survivors who are particularly vulnerable to the new coronavirus.

The New York-based Conference on Jewish Material Claims Against Germany says the $4.3 million in initial funding would be made available to agencies around the world providing care for some 120,000 survivors.

All survivors are elderly and many suffered from illness, malnutrition and other deprivations either at the hands of the Nazis or as they hid from them. Those early ailments continues to affect their health today.

There are no statistics yet as to how many Holocaust survivors have been infected by the new coronavirus. Israel’s first reported COVID-19 fatality was an 88-year-old survivor. About a third of the elderly population in Israel are survivors.

The additional funds will be used to “address critical gaps” in providing survivors help with homecare, food, medicine and other assistance as it is needed.

It is in addition to approximately $350 million in direct compensation, the Claims Conference is providing to more than 60,000 survivors in 83 countries this year and some $610 million in grants to more than 300 social service agencies.

Since 1952 through the Claims Conference the German government has paid more than $80 billion in Holocaust reparations.

___

KARACHI, Pakistan — Pakistan opened its first drive-thru COVID-19 test facility in the southern Sindh provincial capital of Karachi.

A team of doctors and medical staff are operating the first drive-thru facility in Pakistan’s latest attempt to stem the spread of the virus.

Pakistan has carried out 35,875 tests countrywide and has 3,277 positive cases, 881 of them in southern Sindh province.

The majority of the cases are in eastern Punjab province, where 60 percent of Pakistan’s 220 million people live.

According to news reports, a team of visiting Chinese doctors has recommended the Punjab province remain under lock down for another 29 days. Pakistan is in a countrywide lock down until April 16, when it will be reviewed.

There have been 50 reported deaths from the coronavirus.

___

BUDAPEST, Hungary — Hungary’s prime minister has announced a second package of economic measures meant to protect the country’s economy from the effects of the coronavirus pandemic.

Prime Minister Viktor Orban said Monday that the measures would reallocate some 18-20% of Hungary’s state budget, or as much as around $32 billion, while raising the budget deficit from 1% of GDP to 2.7%.

Orban said that “the aim is for us to create as many jobs as the virus ruins.”

Orban said the state will help pay some wages in the private sector and spend about $1.33 billion to support investments targeting job creation.

Hungary will also make available loans totaling some $5.9 billion for businesses and gradually boost pension payments from February 2021.

Opposition parties called for extending unemployment benefits and for immediate extra payments to pensioners and workers in the health sector.

Hungary has registered 744 coronavirus cases, with 38 deaths linked to COVID-19.

___

BEIRUT — Lebanon’s President Michel Aoun has appealed for the international community to help the country that is passing through its worst economic and financial crisis in decades, made worse in recent weeks by the new coronavirus.

Aoun said in a speech Monday in front of ambassadors of the International Support Group for Lebanon that includes the U.N., U.S., China, France, Germany, Italy, Russia, Britain, EU and the Arab League that Beirut was getting ready to launch work to revive the economy when coronavirus hit the world.

“We are facing all these challenges and welcome any international assistance,” Aoun said adding that the presence of a million Syrian refugees is adding to the crisis.

Lebanon has reported 541 cases of coronavirus and 19 deaths.

Also in Lebanon, which has been imposing a lockdown for weeks, security forces began implementing strict measures that allow vehicles with even or odd plate numbers to drive for three days a week each. Driving will be banned on Sundays to try limit the spread of the virus.

___

PRAGUE — Czech government ministers say the country is set to gradually relax some restrictions imposed to contain the spread of the coronavirus.

Interior Minister Jan Hamacek, who heads the government’s crisis committee that deals with the outbreak, says that he is proposing to cancel the ban for the Czechs to travel abroad as of April 14. Hamacek says that the border checks would remain in place and people would be allowed to travel only under specific rules that still have to be finalized.

Currently, the Czechs are barred from leaving the country and foreigners are barred from entering it.

Hamacek, however, says that all tough restrictions on movement within the country won’t be relaxed for Easter.

Health Minister Adam Vojtech says the government is also set to discuss a proposal to allow more small stores to reopen, depending on the development of the epidemic.

The Cabinet will decide on all those measures later this week.

The Czech Republic has 4,591 people infected with the virus, 72 have died, according to the Health Ministry figures released on Monday.

___

MADRID — Coronavirus-related fatalities and recorded infections continued to drop on Monday in Spain, although authorities warned of possible distortions by a slower reporting of figures over the weekend.

The country’s health ministry reported 637 new deaths for the previous 24 hours, the lowest fatality toll in 13 days, for a total of over 13,000 since the pandemic hit the country. New recorded infections were also the lowest in two weeks: 4,273 bringing the total of confirmed cases over 135,000.

Hospitals are also reporting that the pace of incoming patients to their emergency wards is slowing down, giving a much needed respite to overburdened medical workers.

Mimicking the “Noah’s Ark” approach seen in China and other Asian countries, the government is putting together a list of venues, hotels and sports centers where patients who test positive but show no symptoms could be isolated to avoid infecting relatives.

___

TOKYO — Prime Minister Shinzo Abe has said he is preparing to announce a 108 trillion yen ($1 trillion) economic package to help Japan weather the coronavirus pandemic.

Abe told reporters Monday that he plans to disclose details of the package as early as Tuesday.

Japan, the world’s third-biggest economy, was already in a contraction late last year before the virus outbreak walloped business and travel. The government has been slow to roll out containment measures, on a piecemeal basis, and only recently announced it would postpone the Tokyo 2020 Olympics by one year.

A surge in infections has prompted Abe and other leaders to discuss more stringent methods to contain the pandemic. Abe is expected to announce a state of emergency on Tuesday, at least for the hardest-hit big cities, such as Tokyo.

___

SINGAPORE — Singapore has placed nearly 20,000 foreign workers under quarantine in their dormitories after an increasing number in the community were found to be infected with COVID-19.

The country has gazetted two foreign dormitories as isolation areas, which means that the thousands of workers living on both sites will not be able to leave their rooms for 14 days, according to a press release by Singapore’s ministry of health on April 5. Combined, the two dormitories have so far seen over 90 cases of COVID-19 infections.

The move comes as Singapore sees a spike in local cases of COVID-19, with a record 116 such cases on Sunday. Singapore will also effectively enter a lockdown from Tuesday, closing schools and workplaces deemed to provide nonessential services for a month.

Workers under quarantine will continue to be paid salaries, the ministry said. It is also working with all dormitory operators in Singapore to reduce the density of their residents by transferring some workers to alternative accommodation during this period.

___

VIENNA — Austrian Chancellor Sebastian Kurz says his government aims to start allowing some shops to reopen next week at the beginning of a long, phased return to normal life.

Kurz said that the aim is to allow small shops and garden centers to reopen next Tuesday, with a limited number of customers who must wear masks. He said that government hopes to reopen the rest of the shops, as well as hairdressing salons, on May 1. Restaurants and hotels won’t be able to open until at least mid-May. Events will remain banned until the end of June.

Existing restrictions on people’s movement, which were imposed three weeks ago and set to expire on April 13, are being extended until the end of the month.

Austria had some 12,000 confirmed cases of the coronavirus, including 220 deaths, as of Monday.

___

TAIPEI, Taiwan — Taiwan has replaced its tourism chief and ordered vacationers who visited crowded scenic sites over the recent holiday weekend to avoid public spaces as it strives to maintain its relative success in containing the coronavirus.

Tourism Bureau Director-General Chou Yung-hui was demoted and moved to a new job after news emerged that a subordinate had abused his powers to skirt procedures on behalf of his son, leading to the infection of another staffer at the bureau.

That staffer then infected his five-year-old son, forcing the boy’s kindergarten to be closed for 14 days. None of the other students or teachers were found to be infected, according to the Central Epidemic Command Center.

The CECC also urged anyone who visited one of 11 popular tourist sites during the four-day Qingming festival to avoid public spaces for 14 days, work from home if possible, wear masks and practice social distancing to avoid further cross infection.

Despite its proximity to China, where global pandemic began, Taiwan has successfully kept widespread infection at bay largely by closely tracing any possible cases, barring foreign visitors and enforcing quarantines.

The island recorded 10 new cases on Monday, bringing its total to 373 with five deaths.

___

VALLETTA, Malta — Maltese health authorities have placed all 1,000 migrants staying in a center in quarantine after eight of them tested positive for coronavirus.

The migrants have been granted asylum and are usually free to leave the center, and some have jobs. But Health Minister Chris Fearne ordered all of them be placed in quarantine for 14 days in a bid to contain the spread of the virus.

The Mediterranean island nation of Malta so far has 227 cases of COVID-19; the youngest is a girl aged two and the oldest is a woman of 86. Only five of the 227 have recovered.

No deaths attributed to the virus have been reported.

Maltese schools have been closed since March 13, and bars and restaurants have also been ordered shut. Maltese authorities are imposing fines on anyone who gathers in groups of more than three people in public.

___

Follow AP news coverage of the coronavirus pandemic at https://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreak


5 Oil Stocks That May Not Survive the Current Crisis

What would you think of the long-term prospects of a business that paid you to buy their products? That’s an oversimplification of what occurred to the May futures contract for oil on April 20. The price for that contract sold for a negative price for the first time in history.

The crisis befalling the oil companies at this time can best be described as “only the strongest survive.” There’s just no way the oil companies can possibly handle month after month of rock-bottom oil prices.

The problem is almost comically simple to understand. There is a massively reduced demand for oil as millions of Americans are following mitigation orders ranging from social distancing guidelines to more restrictive shelter in place orders. At the same time, the market is trying to absorb the oversupply of oil that came from Russia and Saudi Arabia.

However, when the year started, things looked like it might be business as usual for oil producers. The U.S. economy was humming along and there was talk that the second half of the year might finally bring the boost to oil prices that many companies badly needed.

However, since the middle of February, the bottom has dropped out of the market in general, and oil prices have been one of the main sectors to feel the impact.

Initially, investors tried to remain optimistic. A month ago, investors thought that the economy might be reopening sooner rather than later. However, the exact timing of the reopening is about as fluid as a barrel of oil. And with it looking more likely that there will be more demand destruction at least through May, there’s very little to prop up the stock of any oil companies.

And that means that, in all likelihood, there will not be room left for some oil companies. We’ve highlighted five oil stocks that have a strong probability of not surviving the chaos surrounding the coronavirus and our nation’s response.

View the "5 Oil Stocks That May Not Survive the Current Crisis".

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