Tedros Adhanom Ghebreyesus (L) Director General of the World Health Organization (WHO) and UN Secretary-General Antonio Guterres (R) arrive to attend an update on the situation regarding the COVID-19 in the SHOC room (Strategic health operations centre) at the World Health Organization (WHO) headquarters in Geneva, on February 24, 2020. (Photo by SALVATORE DI NOLFI / POOL / AFP) (Photo by SALVATORE DI NOLFI/POOL/AFP via Getty Images)
The first major coronavirus outbreak has officially hit outside of Asia after Italy confirmed more than 200 cases, raising fears of a global pandemic. Italian officials locked down at least 10 towns, home to about 50,000 people, as markets tanked around the world, with the Dow Jones plummeting more than 1,000 points in intraday trading.
For weeks, the World Health Organization's chief official has warned of a narrowing "window of opportunity" to stall the virus's spread, but the case count continues to tick upwards on a daily basis. As of Monday, there have been 77,362 cases reported in China, including 2,618 deaths. In the past 24 hours, China reported 460 new confirmed cases and 150 deaths.
But calling the situation a pandemic prematurely causes fear and "does not fit the facts," Dr. Tedros Adhanom Ghebreyesus told reporters Monday. He said the body is not ready to declare a pandemic, but the "sudden increase in new cases" in other nations is "deeply concerning."
"What we see are epidemics in different parts of the world, affecting countries in different ways and requiring a tailored response," he said. "Does this virus have pandemic potential? Absolutely, it has. Are we there yet? Not yet."
A series of missteps, including China's slow response in recognizing the severity of the outbreak, not enough protection for health workers, and a cruise ship quarantine that became a hotbed for spreading the virus, have aided the growth even as officials around the world take drastic action. Nearly 800 million people remain under some sort of quarantine in China, an unprecedented move during a public health crisis. Other countries confronting the disease are deciding whether to follow China's lead in blocking residents' movements. South Korea, which has a reported 833 cases and seven deaths, is on the highest possible alert, which would allow the government to lock down regions.
Despite recent outbreaks of the virus in new areas, initial reports from a WHO-led team of medical experts who recently traveled to China show promising signs. Dr. Tedros said the group found the epidemic "peaked and plateaued between 23 of January and 2 of February and has been declining steadily since then." He said the group, which included members of the U.S. Centers for Disease Control and Prevention and the National Institutes of Health, reported no significant change in the DNA of the virus. It also found a 2-4 percent fatality rate in Wuhan, the epicenter of the outbreak, and a 0.7 percent fatality rate outside the region. The trip was initially criticized for not including visits to Wuhan or the Hubei region. Initial offers from the CDC and WHO were rebuffed by Chinese officials.
The effects of COVID-19 have hit the global economy as well. The S&P 500 dropped almost 3 percent Monday, and European markets had the worst day since 2016. In Milan, the stock market dropped more than four percent Monday, and some fashion shows were canceled during the city's fashion week.
Companies around the world are saying they may not meet sales or profit targets due to factory closures in China and uncertainty over supply chain and manufacturing. Last week, Apple said the virus was hurting supply and demand for iPhones. Oil prices also fell, the global oil benchmark lost more than 3.5 percent and the U.S. benchmark fell to $51.50 a barrel.
When asked about Europe's preparedness for containing the virus, a WHO official said the problem for developed nations is that health systems may come under a lot of pressure. He said slowing down the virus, to allow flu season to pass, will benefit the system overall and help health centers respond better to the virus's presence.
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
