Global death toll exceeds 251,000

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news comes out.

• Global cases: more than 3.5 million
• Global deaths: more than 251,000
• Most reported cases: United States (over 1.18 million), Spain (over 218,000), Italy (over 211,900), United Kingdom (over 191,800), France (over 169,500)

The above data was compiled by Johns Hopkins University at 12:32 p.m. Beijing time.

All times below are in Beijing time.

4:50 pm:

The reproduction rate of the coronavirus pandemic in Germany is currently estimated at 0.71, the head of the public health authority, the Robert Koch Institute, said on Tuesday, Reuters reported.

That number indicates that 100 infected people infect an average of 71 others, which means that the number of new infections would decrease over time. – Holly Ellyatt

The Singapore Ministry of Health preliminarily confirmed 632 new cases of the coronavirus disease, bringing the number to 19,410 since the outbreak.

In recent weeks, the number of new cases in Singapore increased after infections were found among migrant workers staying in full dormitories. The country now has one of the highest accumulated cases in Asia. – Yen Nee Lee

Some countries have begun reopening parts of their economies that were blocked to stop the spread of the coronavirus. CNBC’s Uptin Saiidi is in Hong Kong to see what a new normal would look like.

German fashion Hugo Boss said its total second-quarter sales could drop at least 50% due to uncertainties caused by the coronavirus pandemic.

That warning came after the company reported first-quarter sales of 555 million euros ($ 605.6 million), a 17% decrease from the same period the year before after currency adjustments. That led Hugo Boss to record a loss of 14 million euros ($ 15.3 million) in operating profit in the first three months of 2020.

“HUGO BOSS expects both sales and earnings in the second quarter of 2020 to be more pronounced than those recorded in the first quarter,” the company said in a statement accompanying its first-quarter earnings report.

“This will be mainly the result of the continuous closings of the Group’s own stores, as well as the points of sale in important partners in Europe and America. In general, these two regions combined generally contribute around 85% to the Group’s sales” he added. . – Yen Nee Lee

Indonesia’s economy grew 2.97% year-over-year in the first quarter, the weakest growth rate since the first three months of 2001, Reuters reported, citing data from the country’s statistics bureau.

A Reuters analyst survey had an average growth forecast of 4.04%, according to the report. Several segments of the Indonesian economy were affected by the coronavirus pandemic, including consumption, investment, tourism and exports of basic products, according to the report.

But Southeast Asia’s largest economy held better than many others in the first quarter, in part because it crashed later than most, Gareth Leather, Asia’s senior economist at Capital Economics, wrote in a note.

“In most of the blockades in Asia … it happened in late March. In Indonesia it wasn’t until April,” he wrote. “Of course, this means that the economy will experience greater success in the second quarter.”

Indonesia did not report its first case of the coronavirus disease until March, a development that surprised many given the country’s extensive air links with China and the city of Wuhan, where the virus first emerged. As of Monday, the country has reported 11,587 cases and 864 deaths. – Yen Nee Lee

Hong Kong’s main Hang Seng index rose 0.54% on Tuesday, a day after the city revealed that its economy contracted 8.9% compared to the previous year, marking its biggest decline on record since 1974. It occurs when Hong Kong faces economic challenges posed by both the coronavirus outbreak and months of widespread protests.

The virus has infected more than 1,000 people in Hong Kong and killed four. Saheli Roy Choudhury

Millions of people in Italy were allowed to return to work as of Monday when the country took the first steps to lift the blockade, the Associated Press reported.

Construction and manufacturing activities reopened, while retail companies will still have to wait a few more days. Bars and restaurants are reopening for takeaway services, while people are now able to visit family members in small quantities. Italy reported more than 211,900 cases of infection and more than 29,000 people died.

Not only Italy has begun to ease the restrictions, other European countries are also doing the same. – Saheli Roy Choudhury, Silvia Amaro

Changing jobs in the midst of a global pandemic can be a bold move.

Herminia Ibarra, professor at the London Business School and author of “Act Like a Leader, Think Like a Leader,” outlined five considerations for those who think about professional movements, including reconnecting with old contacts. – Karen Gilchrist

Germany reported 685 new cases and 139 more deaths, according to the latest numbers from the Robert Koch Institute, the federal government agency responsible for disease control and prevention.

There have been 163,860 confirmed cases and 6,831 deaths in total. But, a new study says the actual number of cases could be ten times higher, with 1.8 million infections. – Saheli Roy Choudhury

Apple confirmed that it will reopen its stores in Australia on Thursday. Stores will operate from 10 a.m. at 5 p.m. Local time and service will be prioritized at the Genius Bar, Apple’s technical support station. Appointments can be booked online starting Tuesday.

Due to social distancing measures, Apple will limit the number of people inside stores at one time and there could be delays for incoming visitors. There will also be temperature evaluations prior to entry. The Sydney store will be closed for an update.

“We are excited to begin welcoming visitors to our Australian stores later this week. We have missed our customers and look forward to offering our support,” an Apple spokesperson said in a statement. – Saheli Roy Choudhury

Australia’s efforts to contain the coronavirus are expected to cost the economy 4 billion Australian dollars ($ 2.6 billion) a week, according to excerpts from prepared comments by Treasurer Josh Frydenberg reported by Reuters. Frydenberg is scheduled to speak at the National Press Club of Australia on Tuesday night.

Like many other countries, Australia has implemented movement restrictions and distancing measures to limit the spread of the coronavirus. But those protocols have dampened economic activity.

Australia has reported 6,825 confirmed cases and 95 deaths from Covid-19, as of Monday. – Christine Wang

The China National Health Commission said there was a new confirmed case of infection and attributed it to a traveler from abroad. No new deaths were reported, but there were 15 asymptomatic cases.

Cumulatively, China has reported 82,881 confirmed cases and 4,633 deaths.

More than 251,000 people worldwide have died from Covid-19, the disease caused by the coronavirus, according to data from Johns Hopkins University.

The virus was first reported in China’s Hubei province late last year and has since spread rapidly around the world, infecting more than 3.5 million people.

The United States has the highest number of cases: more than 1.17 million people have been affected and more than 68,000 have died.

Countries like Spain, Italy, the United Kingdom, France and Germany are also among some of the most affected nations. – Saheli Roy Choudhury

All times below are in Eastern Time.

The Institute of Health Measurement and Assessment (IHME) estimates about 135,000 deaths from coronavirus in the US. USA Until early August, citing the easing of closing orders as the main driver of the new number, Reuters reports.

The IHME forecast puts the death toll in the United States as of early August at 134,475, the median range between 95,092 and 242,890.

The new projections reflect ongoing reopening measures across the country and increased social contact between people that will increase transmission, the IHME said, according to Reuters.

“This new model is the basis for the sobering new estimate of America’s deaths,” IHME Director Christopher Murray said of the reopening measures, Reuters reported. – Chris Eudaily

Economists are looking for new ways to measure a rebound from a deep recession, suggesting that the recovery will hinge on individual psychology, overall consumer confidence, and also whether the government was successful enough to fill the income gap for workers who lost. their jobs.

“It’s much more behavioral. It’s not just driven by income. It’s driven by fear,” said Diane Swonk, chief economist at Grant Thornton. Economists have been looking at China as an example, ever since the disease started there. “Even a month after its reopening in Wuhan, people are still concerned about going to public places and shopping malls.” – Patti domm

Read CNBC coverage of the United States overnight: The projection estimates 135,000 deaths in the United States for August; expanded tests for flu drug Fujifilm