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COVID 19: Live Updates for Friday, May 1

By Peter Nurse and Kim Khan

Investing.com – Rolling updates on the latest developments and headlines from around the world on the Covid-19 pandemic.

3:10 PM ET: Trump Wants ‘a Lot’ From States in Return for Aid

President Donald Trump said he’s “in no rush” to provide federal dollars to states and states run by Democrats are “going to have to give us a lot,” Bloomberg reported.

12:26 PM ET: Jobs Programs May Be Needed in Recovery – Fed’s Barkin

A likely slow recovery from the coronavirus crisis may require programs to bolster the labor force and repair productivity damaged by new requirements for operating businesses safely, Richmond Federal Reserve president Thomas Barkin said.

11:20 AM ET: Texas, Ohio start to reopen

Texas and Ohio pushed ahead on Friday with a phased relaxation of restrictions that U.S. states put in place weeks ago to curb the coronavirus pandemic, as Georgia took another step toward a full restart by allowing all businesses to reopen.

10:00 AM ET: ISM manufacturing index falls less than expected

The Institute of Supply Management’s April PMI fell less than economists predicted, dropping to 41.5 from 49.1 in March. Expectations for a drop to 36.9.

09:45 AM ET: U.S. manufacturing sector activity sinks to 11-year low 

The U.S. manufacturing sector's contraction accelerated in April, with activity sinking to an 11-year low. Data firm IHS Markit (NYSE:INFO) said its final U.S. manufacturing Purchasing Managers' Index dropped to a reading of 36.1 last month, the lowest reading since March 2009.

That was a downward revision from the 'flash' figure of 36.9 reported last week and lower than 48.5 published in March.

09:30 AM ET: Kudlow plays down tariffs on China

White House economic adviser Larry Kudlow told CNBC there would not be a “rush” to put tariffs on China as President Donald Trump suggested in response to the country’s actions regarding the coronavirus. But Kudlow said he wants China to be held accountable.

06:21 AM ET: Germany could take 25% stake in Lufthansa - report

Lufthansa (DE:LHAG) is negotiating a 10 billion euro ($10.98 billion) bailout that would result in Germany taking a 25.1% stake in the airline, weekly paper Der Spiegel said on Friday.

05:43 AM ET: Trump to leave White House for first time in a month

U.S. President Donald Trump will leave the White House on Friday for the first time in a month when he travels to the Camp David presidential retreat in Maryland.

04:55 AM ET: British manufacturers hit hard in April, as PMI hits record low

British manufacturers suffered the biggest fall in output and orders for at least three decades in April, as measures to slow the spread of the new coronavirus sent the economy into a steep downturn, a survey showed on Friday.

April's final IHS Markit/CIPS Manufacturing Purchasing Managers' Index headline activity index fell to a record low 32.6 from March's 47.8, broadly in line with the earlier flash estimate of 32.9.

04:29 AM ET: Virus may stunt euro area growth until 2022, says ECB

The euro zone economy is likely to rebound in the second half of this year but it may fail to grow back to last year's level until as late as 2022 due to the coronavirus pandemic, the European Central Bank said on Friday.

03:52 AM ET: Russia reports record daily rise in reported coronavirus cases

Russia on Friday reported 7,933 new cases of the coronavirus, a record daily rise, bringing its nationwide tally to 114,431.

The official nationwide death toll rose to 1,169 after 96 people with the virus died in the last 24 hours, Russia's coronavirus crisis response centre said.

03:21 AM ET: U.K. could have hit 100,000 Covid-19 tests daily target - Minister

Britain may have hit its daily target of 100,000 Covid-19 tests, putting in place the beginnings of a network to test, track and trace people through the pandemic, housing minister Robert Jenrick said on Friday.

"I don't have the figures yet, they'll be published later today. But it looks like we'll either meet the target or come close so we will have very significantly increased the amount of testing in this country," he told BBC TV.

02:35 AM ET: Britain's housing market grinding to standstill - Nationwide

Britain's housing market is grinding to halt as a result of the government's coronavirus lockdown, mortgage lender Nationwide said, adding its ability to carry on producing the price index depended on there being enough transactions.

Nationwide said on Friday its measure of house prices rose by 0.7% in April from March and was 3.7% higher than a year earlier, but the lender said the impact of the pandemic was not fully captured in April's figures.

02:23 AM ET: Heathrow sees passenger numbers down 97% in April

London's Heathrow Airport, traditionally the busiest in Europe, said passenger numbers were expected to be down by around 97% in April and they were likely to remain weak until governments fighting the coronavirus outbreak deem it safe to travel.

01:40 AM ET: Japanese car sales slumped 28.6% in April from a year ago

Japanese auto sales fell 28.6% in April from the same period a year ago, industry data showed on Friday, as vehicle purchases dropped after a state of emergency was called earlier in the month due to the coronavirus outbreak.

Sales totalled 270,393 vehicles last month, data from the Japan Automobile Dealers Association and an association representing dealers of so-called "kei" mini cars showed, compared with sales of 378,687 vehicles in the same period a year earlier.

01:24 AM ET: Moderna and Lonza sign deal to manufacture potential coronavirus vaccine

Moderna (NASDAQ:MRNA) and Lonza Group (SIX:LONN) said on Friday they would accelerate the manufacturing of the U.S. drug developer's potential coronavirus vaccine.

The experimental vaccine, mRNA-1273, is being tested in early-stage trial by the U.S. National Institutes of Health, with Moderna expecting to begin mid-stage trial in the second quarter.

01:21 AM ET: Gaming revenue in Macao plunges 96.8% in April

Gambling revenue in Macau plunged 96.8% in April year-on-year, with casinos reeling in the world's biggest casino hub as authorities imposed a raft of measures to keep visitors away to contain the coronavirus outbreak.

01:06 AM ET: Australia to consider next week whether to ease restrictions

Australia will consider next Friday whether to relax coronavirus-related mobility restrictions, as the growth rate of new infections slows, Prime Minister Scott Morrison said on Friday following a national cabinet meeting.

01:03 AM ET: South Korea’s exports suffer worst contraction for 11 years

South Korea’s exports slumped 24.3% year-on-year in April, trade ministry data showed on Friday, the worst contraction since May 2009. It slid 0.7% in the previous month.

01:00 AM ET: Japan’s factory activity shrinks in April at faster pace

Japan's factory activity shrank faster than initially estimated in April, a manufacturing survey showed on Friday, as the coronavirus hit to the world’s third largest economy deepened, with declines in product orders and output accelerating.

The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index fell to a seasonally adjusted 41.9 from a final 44.8 in March, its lowest since April 2009, and showing a steeper contraction than the 43.7 seen in a preliminary reading last week.

00:53 AM ET: One in three Australians financially worse off due to pandemic - survey

One in three Australians reported a deterioration in household finances in the month to mid-April, an official survey showed on Friday, as the COVID-19 pandemic shut businesses and forced many people into the unemployment queue.

00:49 AM ET: Experts call for Japan to keep current containment policies

It’s desirable for Japan to keep its current framework of coronavirus containment policies until the number of new infections fall to a certain level, said Economy Minister Yasutoshi Nishimura, citing the country’s coronavirus experts.

Speaking at a news conference, Nishimura added the government would hold an advisory committee meeting to decide on its policy before the current state of emergency ends on May 6.

-- Reuters contributed to this report

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