BitGou: Friday Morning Briefing: Twitter storm as Trump thinks aloud on cures

What you need to know about the coronavirus today

Twitter storm as Trump thinks aloud on cures
Donald Trump’s suggestion that injections of disinfectant could be used to combat the coronavirus have caused an overnight Twitter storm. Reacting to new U.S. research on the virus’ interactions with sunlight, heat and various chemicals, Trump said medics should try to apply the findings to coronavirus patients by applying light or disinfectant directly.

Kicking the can down the road
Leaders of EU countries agreed rough outlines of a joint recovery fund overnight but also kicked down the road the big contention about whether such funds would be available as outright gifts or merely loans. Put simply, the frugal and rich north remains wary of bailing out its poorer (and in its view, more profligate) southern neighbors. Emmanuel Macron of France made it clear where he stood: “I’m saying this sincerely,” he told reporters. “If Europe raises debt to loan to others, that won’t live up to the response we need.”

Fair access: WHO readies Friday announcement
The World Health Organization said it would announce a “landmark collaboration” on Friday to accelerate the research, development and production of safe, effective drugs, tests and vaccines for the coronavirus. The emphasis would also be on making them “accessible to everyone who needs them, worldwide”.

Coronavirus antibodies: more around than you think?
A preliminary survey of 3,000 New York state residents found that nearly 14% of those tested had antibodies against the coronavirus, suggesting that some 2.7 million may already have been infected, Governor Andrew Cuomo said on Thursday. The survey targeted people who were out shopping, but not working, meaning they were probably not essential workers like grocery clerks or bus drivers. Those surveyed were more likely to test positive for antibodies than someone isolated at home, Cuomo said.

Track the global spread of the novel coronavirus with our live interactive graphic

Breakingviews - Corona Capital: Eni, Greenland, IndiGo. Catch up with the latest pandemic-related financial insights from Breakingviews, from Eni’s profit blowout to the Trump administration’s Greenland passion, in the latest edition of Corona Capital.

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Life under lockdown

“We really have no dry goods,” said Bonnie Escobar, chief development officer of El Pasoans Fighting Hunger. Food banks nationwide are squeezed between short supplies and surging demand from needy families as the coronavirus pandemic has put more than 26 million Americans out of work. In New York City, the mayor appointed a food czar as lines of masked people form outside overstretched charities. More than a third of the city’s food banks have closed for lack of supplies, donations or volunteers, who are harder to recruit because of infection fears, according to the New York Mission Society. In San Diego, a local food bank waits on a $1 million order it placed weeks ago. Chicago and Houston food banks say they are nearly out of staples.

Parts of India have recorded dramatic falls in mortality rates after a nationwide lockdown was imposed to fight the new coronavirus, suggesting there has not been an undetected surge in virus-related deaths. While death rates in some countries have risen sharply in recent weeks, in India the opposite seems to be happening, at least in some places, leaving hospitals, funeral parlors and cremation sites wondering what is going on.

Brazilians who make up Portugal’s biggest migrant community mainly came to Europe in search of a better life, but the coronavirus crisis has wiped out incomes and jobs for many - and even pushed some onto the street. Homeless charity Comunidade Vida e Paz said the number of Brazilian and other migrants sleeping rough in Lisbon has increased significantly since the outbreak began. “The pandemic made one thing we already knew clear: Brazilians in Portugal are in extremely precarious situations,” Cyntia de Paula, head of migrant association Casa do Brasil, said. She added that her team was flooded with hundreds of requests from Brazilians fired during the economic slump.

The coronavirus pandemic is taking a disproportionate toll on some immigrant groups in the Nordic region. Governments in Sweden, Norway and Finland are taking extra steps to try to slow the spread of the disease in these communities. "In Somali culture, most information is spread by word of mouth," said Ayan Abdulle, who was born in Somalia and came to Norway at age 9. After the coronavirus outbreak, the 29-year-old focused on trying to spread the word about how to stay safe.

Sub-Saharan Africa, the world’s largest rice-importing region, could be heading from a health crisis straight into a food security crisis, the World Bank warns. More widely, the United Nations says coronavirus disruptions could double the number of people globally without reliable access to nutritious food, to 265 million.

Follow the money

Main Street's mainstays: How some U.S. states tapped crisis loans

As the coronavirus crisis gripped the U.S. economy and Congress approved hundreds of billions of dollars in emergency small business loans, Utah builder Clark Ivory knew what to tell his local colleagues. Take the money. Keep your employees. Be ready to invest when the pandemic passes.

7 min read

U.S. states test safety of reopening as pandemic pushes jobless claims higher

An array of U.S. merchants in Georgia and other states prepared to reopen for the first time in a month under newly relaxed coronavirus restrictions, as another week of massive unemployment claims highlighted the grim economic toll of the pandemic.

7 min read

Business

Apple says 'no evidence' iPhone mail flaw used against customers

Apple said it has found “no evidence” a flaw in its email app for iPhones and iPads has been used against customers, and that it believes the flaw does “not pose an immediate risk to our users”.

2 min read

Tesla's China-made Model 3 prices rise after EV subsidies cut

U.S. electric vehicle maker Tesla’s prices for two China-made model 3 variants rose after authorities cut subsidies in the world’s biggest auto market. China cut subsidies on electric vehicles by 10% this year, effective April 23, but there will be a three-month transition period.

2 min read