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The number of people in the U.S. who have tested positive for COVID-19 has now surpassed the number of cases in China and Italy, the Asian and European epicenters of the global pandemic.
There are a total of 86,012 cases and at least 1,301 people of died in the U.S., according to the latest data from Johns Hopkins Whiting School of Engineering’s Centers for Systems Science and Engineering. Roughly half of the U.S. cases are in New York state, which had reported 37,258 cases and 385 deaths, as of Thursday. An estimated 18,650 tests are being conducted daily in the state, Gov. Andrew Cuomo tweeted.
There is growing apprehension about shortages of medical supplies among health care providers, state officials, and the Trump administration. Ventilators are a major concern, with Cuomo and President Donald Trump debating the number of ventilators needed in New York state. Cuomo has stated multiple times that the state needs 30,000 ventilators.
“I don’t believe you need 40,000 or 30,000 ventilators,” Trump told Sean Hannity on Fox News. “You know, you go into major hospitals, sometimes they’ll have two ventilators. And now all of a sudden they’re saying, ‘can we order 30,000 ventilators?’”
But New York isn’t the only state facing a shortage of ventilators. Louisiana Gov. John Bel Edwards said he’s requested 5,000 ventilators from the federal stockpile, and none have been shipped.
The state is emerging as another COVID-19 hot spot in the U.S.; in Louisiana, there are now 2,305 cases, 83 people have died, 676 patients are currently hospitalized, and 18,029 tests have been administered. “Louisiana has experienced the fastest rate of increase for confirmed COVID-19 cases in the world,” Bel Edwards tweeted Friday morning.
There are also documented shortages of personal protective equipment (PPE), which includes gowns and masks, used by health care workers. Several automotive manufacturers including Fiat Chrysler Automobiles FCAU, -6.60%, Ford Motor Co. F, -3.29%, and General Motors Co. GM, -7.65% and retailers like Canada Goose Holdings Inc. GOOS, -3.44% and the Gap Inc. GPS, -8.76% have announced plans this week to produce a mix of gowns, masks, and ventilator parts as part of the national response efforts.
Worldwide, there are now 551,337 cases of COVID-19 and at least 25,035 people have died. About 127,000 people have recovered from the novel coronavirus that has sickened people in 176 countries since it was first detected in Wuhan, China, in December. China has 81,897 cases and 3,296 deaths. Italy, which is widely considered to be the epicenter of the pandemic in Europe, has 80,589 cases and 8,215 deaths. Spain has 64,059 cases and 4,858 deaths; Germany has 47,373 cases and 285 deaths; and Iran has 32,332 cases and 2,378 deaths.
In the U.K., where there are 11,830 cases and 580 deaths, a number of state leaders have the virus. Prince Charles confirmed this week he has the coronavirus, and Prime Minister Boris Johnson tweeted Friday that he has tested positive for COVID-19. “I am now self-isolating, but I will continue to lead the government’s response via video-conference as we fight this virus,” Johnson said.
Here’s how companies are being impacted by the COVID-19 pandemic:
• Conagra Brands Inc. CAG, -2.75% will give a $500 bonus to all U.S. employees at its production and distribution facilities and a $250 bonus to part-time employees. The bonus is in recognition of the work done during the coronavirus outbreak. Conagra’s portfolio of brands includes Duncan Hines, Healthy Choice and Birds Eye.
• ViacomCBS Inc. VIAC, -10.33% withdrew its 2020 financial forecast. At the same time, the media company said viewership is growing for its broadcast and cable properties but it has experienced production delays. Viacom warned that the novel coronavirus outbreak “could be material to the company’s operating results, cash flows and financial position” but that the magnitude is hard to predict due to the evolving nature of the crisis.
• Molson Coors Beverage Co. TAP, -6.45% is withdrawing its 2020 financial guidance given uncertainties surrounding the COVID-19 pandemic. It has also created a voluntary paid leave program for April for employees whose work must be done on site; those electing to participate in paid leave will be paid 60% of regular wages. The beer brewer said it has implemented a “thank you pay incentive” for employees whose work must be done on site, with hourly workers receiving an additional $5 per hour, including any overtime pay. Salaries workers will receive an additional $200 a week. Separately, the company said it was producing hand sanitizer at multiple craft breweries to support growing need from first responders.
• Cheesecake Factory Inc. CAKE, -11.72% has furloughed about 41,000 hourly employees, citing the COVID-19-related curtailment of dine-in restaurant operations and landlord closures of certain properties. Cheesecake Factory had 46,250 employees at the end of 2019, according to its annual report. Its CEO and other named executives have volunteered to have base salaries cut by 20%, and the board of directors have elected to take a 20% cut in annual retainer fees. The company also confirmed it isn’t planning to pay rent on leases for April.
• Hilton Worldwide Holdings Inc. HLT, -5.53% is furloughing part of its corporate workforce, suspending stock buybacks, dividend payments, halting nonessential expenses and halting capital expenditures. Beginning April 4 “many” of the company’s corporate workers will have reduced schedules or be furloughed for 90 days; workers who are not furloughed will take a 20% pay cut for the duration of the crisis. The company said the CEO would forgo a salary for the remainder of 2020 and the executive committee would take a 50% pay cut during the crisis.
Additional reporting by Emily Bary, Max Cherney, Tomi Kilgore and Tonya Garcia
Read more of MarketWatch’s COVID-19 coverage:
Germany and the Netherlands seem to fight off the virus better than most — here’s why
Dividend ETFs may lose out under the $2 trillion coronavirus relief bill
Pelosi predicts House will pass $2 trillion coronavirus bill with ‘strong bipartisan vote’
