487,646 global COVID-19 cases, 22,030 deaths; 6,400 new diagnoses in N.Y. state
The number of global cases of the coronavirus that causes COVID-19 edged closer to half a million on Thursday, and U.S. jobless claims soared to a historic level after workers were laid off or furloughed as non-essential services were ordered to close.
New York remains the epicenter of the COVID-19 pandemic in the U.S. with more than 37,000 people testing positive as of Thursday, up 6,400 from Wednesday, and 385 deaths. Cuomo told reporters that there are now 5,000 people with the virus in hospital, 1200 of whom are in the intensive care unit. About 1500 patients have been discharged.
In the U.S., the tally is 62,086 and at least 869 people have died. At least 361 Americans have recovered. In Europe, Italy is still the worst hit with 74,386 cases and at least 7,503 deaths, according to the Johns Hopkins data. At least 9,542 Italians have recovered. See also:Getting crushed in this market? One look at Warren Buffett’s portfolio and you might feel a lot better about yours• Caterpillar Inc. CAT, +2.82% is withdrawing financial guidance for 2020 that was offered on Jan. 31, because of the uncertainty being created by the virus. The Deerfield, Ill.-based maker of diggers and dozers said most of its domestic operations continue to run and it is also operational in those parts of the world where it is still permitted by local authorities.
• Tailored Brands Inc. TLRD, +6.21% will furlough all U.S. store workers and a “significant portion” of its distribution center and office workers after extending its store closures until May 4. Tailored Brands’ portfolio includes Men’s Wearhouse and Jos. A. Bank. The company’s executives, including Chief Executive Dinesh Lathi, and full-time workers will also be taking tiered pauty cs. Pay for Lathi and the board will be halved.
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