Malaysia extends movement curbs by two weeks

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  • Global cases: More than 1,691,700
  • Global deaths: At least 102,525
  • Most cases reported: United States (496,535), Spain (158,273), Italy (147,577), France (125,931) and Germany (122,171)

The data above was compiled by Johns Hopkins University as of 7:10 a.m. Beijing time. 

All times below are in Beijing time.

8:40 am: Argentina extends lockdown for big cities through April 26

Argentine President Alberto Fernandez said lockdown measures in the country will be extended through April 26, reported Reuters. 

Fernandez said in a televised address that the measures, which were implemented on March 20, have helped to control the rate of new infections, according to the report. 

Argentina has reported 1,975 coronavirus cases since the outbreak, according to data compiled by Johns Hopkins University. — Yen Nee Lee

8:24 am: Mexico reports 403 new cases

Mexico on Friday reported 403 new cases of Covid-19, bring the country’s total cases to 3,844 since the outbreak, reported Reuters, citing the health ministry. 

The country has reported 233 deaths so far, the report said. — Yen Nee Lee

8:03 am: US Treasury says larger airlines need to compensate taxpayers

The largest airlines in the U.S. will have to compensate taxpayers for billions in payroll grants to weather coronavirus, the Treasury Department said Friday, leaving the door open to an aid structure that sparked criticism from labor unions, some lawmakers and industry members.

The Treasury Department has received more than 230 applications from air carriers for payroll grants as the virus and harsh measures to stop it drive down air travel demand to the lowest level in decades. Last week, United, Delta, JetBlue, Spirit and others said they applied for the aid. — Leslie Josephs

7:28 am: Malaysia extends movement and travel restrictions 

Malaysia extended restrictions on movement and travel by another two weeks until April 28 to stem the spread of the coronavirus, Prime Minister Muhyiddin Yassin announced on Friday. 

The measures, which involve shutting schools and non-essential businesses, were set to end on April 14.

Malaysia has reported the highest number of cases in Southeast Asia. The country has confirmed 4,346 coronavirus infections and 70 deaths, according to its health ministry. — Yen Nee Lee

7:10 am: Singapore’s new cases jump by nearly 200

Singapore reported 198 additional cases of Covid-19, taking its tally to 2,108 with six deaths as of Friday noon, according to the country’s Ministry of Health. 

The Southeast Asian country has reported a spike in new cases in recent weeks, leading the government to implement strict social distancing and quarantine measures, including temporarily closing schools and workplaces deemed non-essential. — Yen Nee Lee

All times below are in Eastern time.

5:30 pm: Economists say US in short deep recession, but consumers expected to keep spending despite job losses

The economy is already in what will be a short, deep recession and even with a spike in unemployment, consumers are expected to continue to spend, according to a National Association for Business Economics survey.

The 45 economists surveyed by NABE expect the economy to shrink by a 26.5% rate in the second quarter, after a 2.4% decline in GDP in the first quarter. In the second half, they expect growth to turn positive, with an increase of 2% in the third quarter and 5.8% in the fourth quarter.

“NABE Outlook Survey panelists believe that the U.S. economy is already in recession and will remain in a contractionary state for the first half of 2020, as the COVID-19 pandemic severely restricts economic activity,” said NABE President Constance Hunter, CBE, chief economist, KPMG. —Patti Domm

3:36 pm: Trump says economy won’t reopen until he’s sure it’s safe

President Donald Trump said on Friday that he will not reopen the economy “until we know this country is going to be healthy.”

The U.S. Department of Health and Human Services reportedly projected that lifting stay-at-home orders, school closures and social distancing after just 30 days would lead to an infection spike this summer, according to documents first reported by The New York Times. 

When asked whether Trump had seen federal projections that the coronavirus could resurge if the 30-day shelter-in-place orders were lifted, he said he had not seen the projections. 

“We’re looking at a date, we hope we’ll be able to fulfill a certain date, but we’re not doing anything until we know this country is going to be healthy,” Trump said during a White House press briefing. “We don’t want to go back and start doing it over again, even though it would be in a smaller scale.” —Noah Higgins-Dunn

Read CNBC’s coverage from the U.S. overnight: LA County extends stay-at-home order, $30 billion in aid sent to hospitals

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