WeWork has sufficient cash to meet challenges posed by virus – letter

Coronavirus: B.C. confirms 2 new deaths, 67 new cases

Two more people have died of the novel coronavirus in B.C., as the province confirmed 67 new cases on Friday.

There are now 792 lab-confirmed cases of COVID-19 in the province, and 16 deaths.

The number of people in hospital because of the virus climbed to 73.

China reports 45 new coronavirus cases, mostly involving overseas travellers

SHANGHAI/BEIJING (REUTERS) – China reported 45 new coronavirus cases in the mainland on March 28, down from 54 on the previous day, with all but one involving travellers from overseas, the health authority said on Sunday (March 29).

A total of 3,300 people have now died in mainland China from Covid-19, with a reported 81,439 infections.

This story is developing.

Norway seeks to aid companies with up to $1.9 bln per month

OSLO, March 27 (Reuters) – Norway’s government on Friday proposed a scheme to cover fixed costs for companies affected by the coronavirus outbreak at a cost of 10 billion to 20 billion Norwegian crowns ($958 million -$1.92 billion) per month.

The government said the scheme was designed to cover a part of the costs companies can’t avoid paying, such as rent and insurance. ($1 = 10.4378 Norwegian crowns) (Reporting by Victoria Klesty, editing by Terje Solsvik)

Brazil's Bolsonaro says coronavirus deadly, but hunger also kills

BRASILIA (Reuters) – Brazilian President Jair Bolsonaro on Friday returned to criticizing the lockdowns in major cities across the country, saying that the resulting hunger from the economic fallout could be more deadly than the coronavirus it was aimed at combating.

Bolsonaro said the Brazilian economy had been taking off before coronavirus hit.

Coronavirus: Malls in Edmonton limit access following provincial government order to shut down non-essential business

Shopping malls in the Edmonton area have closed the majority of their services, following Friday’s orders from the provincial government to close all non-essential businesses.

S.Korea to kick start corporate bond buying programme on April 2

SEOUL, March 27 (Reuters) – S.Korea’s financial regulator on Friday said it will commence the planned bond buying facility on April 2 by purchasing corporate paper to stabilize the local market grappling with the coronavirus pandemic.

The Financial Services Commission said it plans to set up a separate facility to buy commercial paper.

South Korea on Tuesday doubled a planned economic rescue package to 100 trillion won ($80 billion) to rescue companies hit by the coronavirus and put a floor under crashing stocks and bond markets.

UK will have done well if fewer than 20,000 die, NHS medical director says

LONDON, March 28 (Reuters) – The United Kingdom will have done well if it comes through the coronavirus crisis with fewer than 20,000 deaths, Stephen Powis, the national medical director of the National Health Service, said on Saturday.

Powis, speaking at a news conference in Downing Street, said that intensive care units were not yet full in London. He said the health service was preparing operating theatres and recovery areas to take critically ill patients. (Reporting by Guy Faulconbridge and Paul Sandle)

Vancouver offers emergency childcare referrals to essential COVID-19 workers

The City of Vancouver has set up a referral system to link essential workers with licensed childcare providers during the COVID-19 crisis.

Parents and guardians who are considered essential workers and have no other viable options will get a referral to temporary childcare.

North Korea Fires Missile Into East Sea

North Korea fired what appeared to be an unidentified missile into its eastern sea, the South Korean military said, raising regional security concerns as world leaders battle the spread of the coronavirus.

The launch was at least its fourth this month, which Japan’s coast guards said likely fell outside its exclusive economic zone. The projectile likely flew as far as 230 kilometers (143 miles), and reached as high as 30 kilometers, Yonhap said.

The string of launches broke a three-month lull in testing and represent Kim Jong Un’s first such provocations after saying Dec. 31 that he was no longer bound by a self-imposed freeze on major weapons tests. Kim spent much of last year threatening to take a “new path” in nuclear talks with the U.S. in 2020, if President Donald Trump didn’t make a more appealing offer.

The provocations come as Kim is facing a domestic challenge from the coronavirus, which could easily overwhelm his country’s antiquated and underfunded medical system. North Korea is sandwiched between the counties with the most confirmed infections in the world — China and South Korea.

While North Korea’s secretive government hasn’t disclosed a single confirmed coronavirus case, state media has reported for weeks about measures the government has taken to prevent local outbreaks. Kim has sealed off the borders in response, a move that cut off a trickle of trade and foreign tourism into the country.

UK working quickly as it can on ventilators – PM's spokesman

LONDON, March 27 (Reuters) – Britain is working as quickly as it can to get ventilators, a spokesman for Prime Minister Boris Johnson said on Friday, after London was criticised for not taking part in an EU scheme to try to buy the breathing machines to tackle the coronavirus outbreak.

The spokesman said the government had asked businesses to give them a progress report on their efforts to manufacture the ventilators.

WeWork has sufficient cash to meet challenges posed by virus – letter

NEW YORK, March 26 (Reuters) – WeWork told investors on Thursday the $4.4 billion in cash and cash commitments it had on hand at year-end 2019 is sufficient to execute its five-year plan, including managing the challenges posed by the recession-bearing coronavirus crisis.

WeWork told bond investors in a letter reviewed by Reuters that it is in a sound finacial position to execute its plan through 2024.

The company has said it will release full-year 2019 results to bond holders after markets close at 4 p.m. on Thursday.