“If we abandon social distancing too quickly, in fact the risks are greater in the long run,” Goldman's Sharmin Mossavar-Rahmani said earlier today about the impact of the coronavirus crisis. “There is a light at the end of the tunnel.”
Taiwanese electronics manufacturer Foxconn reported a 23.7% fall in profit in the last three months of 2019 as it braces for the impact from the coronavirus pandemic that has hit demand from key customers such asFoxconn, which assembles iPhones at factories in China, reported net profit of $1.6 billion, according to Reuters calculations, slightly above average consensus estimates compiled by Refinitiv.
The price of oil is now so low that it is becoming unprofitable for many oil companies to remain active, analysts said, and higher-cost producers will have no choice but to shut production, especially since storage capacities are almost full. Unlike its immediate neighbors Denmark, Finland, and Norway, Sweden has not closed its borders or its schools. Neither has it closed nonessential businesses or banned gatherings of more than two people, as the U.K. and Germany have.
"Sweden has gone mostly for voluntary measures because that's how we're used to working," Tegnell added. "And we have a long tradition that it works rather well."U.K. Prime Minister Boris Johnson's senior adviser, Dominic Cummings, has symptoms of coronavirus and is self-isolating at home, Sky News said Monday.
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