Connect with us

Finance

Coronavirus detected at conference attended by Trump

Published

on

The White House said Donald Trump had not been in “proximity” to a person who tested positive for coronavirus after returning from a four-day conservative conference outside Washington that was attended by the president and vice-president Mike Pence.

The organisers of the Conservative Political Action Conference, a big annual political event held in Maryland less than 20km from the White House, said one of the attendees was diagnosed with the virus on Saturday and had been quarantined in New Jersey.

The CPAC event was held from February 27 to March 1. While the venue was on the Potomac river in Maryland, attendees frequently hold meetings in Washington with political figures. Separately on Saturday, the District of Columbia reported its first case of coronavirus, raising concerns about the implications for the federal government.

In New York, Governor Andrew Cuomo declared a state of emergency after the number of cases in the state jumped to 76 on Saturday, out of more than 300 across America. 

“There is no indication that either President Trump or vice-president Pence met with or were in proximity to the attendee,” said Stephanie Grisham, White House press secretary.

Ms Grisham said Mr Trump’s doctor and the Secret Service were working closely with White House staff and other government agencies to take precautions to keep the president and his family safe. She did not immediately respond to a question about whether he had been tested for the coronavirus since he attended the CPAC event.

The move by Mr Cuomo in New York will make it easier for the state to use state and federal funds to contain the disease. It comes in the wake of similar declarations by California and Washington state, which have also seen a spike in coronavirus cases.

The decision by New York follows an outbreak in Westchester county, a suburb north of New York City, where 57 people have tested positive in the area of New Rochelle, a city of about 77,000 residents. Mr Cuomo said there had been 11 cases in New York City. 

“We have now been testing around the clock. We are aggressively testing, following up leads because we want to find as many people who test positive so we can get them out of circulation,” Mr Cuomo said at a news conference. 

Mandatory Credit: Photo by JUSTIN LANE/EPA-EFE/Shutterstock (10573310a) A view of the entrance to the Salanter Akiba Riverdale Academy in the Bronx, New York, USA, 03 March 2020. The school was closed today as a precaution due to a suspected link to a person who is the area's second patient with the coronavirus. New York school closed as precaution due to link to coronavirus patient, USA - 03 Mar 2020
The Salanter Akiba Riverdale Academy in the Bronx, New York, which was closed this month as a precaution due to a suspected link to a person who is the area’s second patient with the coronavirus. © JUSTIN LANE/EPA-EFE/Shutterstock

There was growing concern that the coronavirus was beginning to spread more rapidly across communities in the US, following criticism that the Trump administration was too slow in ramping up diagnostics to identify cases of the disease. 

The spread of coronavirus has already started to have a significant economic impact on the US, as travel is being scrapped, large events are being cancelled and a growing number of Americans are limiting their activities, as well as working from home. 

Although the US economy was in strong shape heading into the outbreak, with the labour market producing 273,000 jobs in February, the Federal Reserve was on Tuesday forced to cut interest rates by 50 basis points as a precautionary step to insulate the American economy from the likely damage. 

Mr Trump, who is spending the weekend at his Mar-a-Lago resort in Florida where he will host Brazilian president Jair Bolsonaro, has sought to play down the risk to Americans and said he predicted US equity markets would bounce back from their recent sell-offs. 

Speaking alongside Mr Bolsonaro on Saturday, Mr Trump said he was not concerned about the reports that coronavirus had moved closer to the White House.

“I am not concerned at all,” Mr Trump told reporters.

The president also said that he intended to continue holding political rallies across the country.

Follow James Politi and Demetri Sevastopulo on Twitter: @JamesPoliti & @Dimi



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Finance

Stock market news live updates: Stocks trade lower as indices head for weekly losses – Yahoo Canada Finance

Published

on

By

Continue Reading

Finance

Financial assistance on the way for struggling Iowa county fairs

Published

on

By

Clay County, IA (KUOO Radio) – Some assistance is being made available to fairs and expos in Iowa that were hit hard by the pandemic.

Governor Kim Reynolds and the Iowa Economic Development Authority have announced the state is allocating up to $6 Million in federal CARES Act funds through the Iowa County Fairs Relief Program.

Jeremy Parsons, General Manager of the Clay County Fair, says he was pleased to hear the announcement, adding they’ll be happy to get whatever assistance they can. “You know many aspects of our economy are slowly starting to come back on line through this COVID pandemic but one aspect is not. And that’s the live event business. And for us here at the Fair and Events Center when your whole livelihood depends on bringing people together, we can’t do curbside pickup, we can’t do online. You have to actually have people physically on the fairgrounds and so with COVID obviously we can’t do that, so it’s good recognition from the state that there’s some substantial financial losses occurring.”

Parsons says the the Clay County Fair lost about $3 Million when this year’s events were called off.

Clay County is independently raising funds through their “Save the Fair” efforts, and have so far brought in just over $1 Million dollars.

Source link

Continue Reading

Finance

Embattled financial company AMP confirms takeover bid from US company

Published

on

By

AMP has confirmed it has received a conditional takeover offer from US private equity firm Ares Management Corporation.

The 171-year-old financial company did not reveal how much was offered.

In a statement, AMP stressed the discussions were at a “very preliminary stage” and “there is no certainty that a transaction will eventuate”.

The non-binding bid comes almost two months after the company essentially advertised itself for sale, either as a whole, or broken apart into separate businesses.

In early September, AMP’s new chairman Debra Hazelton launched a strategic review of the company following the resignation of her predecessor David Murray over the board’s handling of sexual harassment complaints.

Amid the management upheaval, former Treasury secretary John Fraser resigned from his AMP directorship and Boe Pahari was demoted from his plum role as head of AMP Capital.

AMP customers pulled billions of dollars out of the company’s wealth management division in the wake of scandals unearthed at the 2018 banking royal commission.

The company also confirmed it had received “significant” interest in its assets and businesses from potential buyers.

In the meantime, AMP said it was assessing its options in a “considered and holistic manner” to maximise shareholder value.

AMP’s suitor, Ares, brands itself as an “alternative investment manager”.

Investors were clearly excited about the possibility of a foreign company breathing new life into the embattled financial firm.

AMP shares jumped (+21.7pc) to $1.56, by 12:50pm AEDT.

Based on its share price, AMP’s market value is around $5.3 billion.

Source link

Continue Reading

Trending