Nearly all cruise lines have now committed to requiring 100% of passengers and crew members to have a COVID-19 test prior to boarding a cruise ship, the Cruise Line International Association (CLIA) announced on Tuesday.

The new policy was announced via Twitter by CLIA, which members include about 95% of the world’s oceangoing cruise lines. It said the 100% testing requirement was a “travel industry first” that would encompass all ships that have 250 passengers or more.

“CLIA ocean cruise line members worldwide have agreed to conduct 100% testing of passengers and crew on all ships with a capacity to carry 250 or more persons – with a negative test required for any embarkation,” Bari Golin-Blaugrund, vice president of strategic communications at CILA told USA Today in a statement.

Golin-Blaugrund also said the COVID-19 testing policy is effective immediately worldwide.

The news of the testing requirement comes as the Centers for Disease Control and Prevention issued a no-sail order for cruise ships through Nov. 1.

The cruise industry was decimated by the coronavirus as sailings were canceled, and ships sat idle during the pandemic. Cruise lines such as Carnival and Norwegian have suspended some sailings into 2021.

It was unclear at the time of writing what type of COVID-19 testing would be used and whether or not testing would be provided in advance or at the port.

At least 48 crew aboard the Costa Atlantica cruise ship docked at a port in Nagasakia have tested positive for coronavirus At least 48 crew aboard the Costa Atlantica cruise ship docked at a port in Nagasakia have tested positive for coronavirus Photo: JIJI PRESS / STR

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TOKYO (Reuters) – Japan plan to conduct stress tests on its five major financial institutions this year that look into how the coronavirus pandemic could affect their earnings and capital, the central bank said on Tuesday.

Unlike many Western nations, where regulators stress tests many banks simultaneously based on standardised risk scenarios, Japan had relied on stress tests conducted individually by each bank.

As prolonged ultra-low interest rates prod major banks to diversify operations in search of yields, however, Japanese authorities decided to align their approach to that of their overseas counterparts, the Bank of Japan (BOJ) said in a report.

For the first time, the BOJ and banking regulator Financial Services Agency (FSA) conducted joint stress tests on five major financial institutions in December, it said.

The regulators presented its findings to the five institutions – Japan’s three megabanks plus Norinchukin Bank and Sumitomo Mitsui Trust Holdings – with feedback in July.

The BOJ and FSA will conduct such stress tests regularly, with the one this year likely to scrutinise how resilient the financial institutions are to risks posed by COVID-19, the report said.

“The biggest challenge would be on how to set the baseline and ‘tail event’ scenarios that take into account the impact from the coronavirus pandemic,” the report said.

The findings of the stress tests will not be published and used mostly as a basis for communication between the regulators and financial institutions, it said.

(Reporting by Leika Kihara. Editing by Gerry Doyle)

Copyright 2020 Thomson Reuters.

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By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) – The safe-haven yen and dollar rose on Friday after President Donald Trump tested positive for COVID-19, rattling investors just a month before November’s U.S. presidential election.

By afternoon trading, markets had calmed down, with the dollar and yen still up but moved in narrow ranges.

Data showing U.S. nonfarm payrolls rising less than expected in September, but with a drop in the unemployment rate, had little impact on currencies, as markets focused on Trump’s health.

Trump, who had played down the threat of the coronavirus pandemic for months, said he and his wife Melania had tested positive for COVID-19 and were going into quarantine, upending the race for the White House.

The news sparked some selling on Wall Street, while U.S. Treasury prices were lower after an initial rally.

The yen made its sharpest gain in more than a month to reach a one-week high of 104.95 against the dollar, then steadied. The greenback was last down 0.2% at 105.365 yen


Implied volatility gauges for the yen rose to a four-week high of 7.62 vols

over the next month, signaling more choppy trading ahead.

Mike Schumacher, senior macro strategist at Wells Fargo Securities in New York, said Trump’s COVID diagnosis added a layer of uncertainty to an already volatile election season, but the sharp market reaction from earlier in the global session has faded a bit.

“You can take one view and say that…this could limit the amount of political news over the next month,” said Schumacher. “Trump can’t really campaign and if Biden chooses to do a bit less also, you might get pretty limited news. That could reduce volatility.”

News that a $25 billion U.S. airlines deal was “imminent”, according to House Speaker Nancy Pelosi, also somewhat eased

Actor Tom Arnold posted the personal cellphone number of White House adviser Hope Hicks on Twitter after it was revealed she tested positive for the coronavirus.

Tom Arnold wearing glasses and looking at the camera

© Provided by Washington Examiner

“Silent thoughts & prayers aren’t enough for national treasure Hope Hicks,” Arnold wrote in a now-deleted tweet. “She needs to hear them.”

Arnold has been a longtime critic of President Trump and his administration, especially on social media, including an instance in 2018 where the Secret Service visited his home and questioned him following a tweet suggesting he wanted to “bodyslam” the president.

Hicks reportedly tested positive for the virus on Thursday and is also said to be experiencing symptoms.

“Hope Hicks, who has been working so hard without even taking a small break, has just tested positive for Covid 19,” President Trump tweeted Thursday night. “Terrible! The First Lady and I are waiting for our test results. In the meantime, we will begin our quarantine process!”

Later that night, the president tweeted that he had also tested positive for the virus along with First Lady Melania Trump.

“Tonight, @FLOTUS and I tested positive for COVID-19,” he tweeted. “We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”

Tags: News, President Trump, Hope Hicks, Coronavirus, Social Media, Twitter, Entertainment, Hollywood

Original Author: Andrew

After slumping as much as 1.7% after trading began, the S&P 500 wavered through the day before cutting its loss to 0.5% by the afternoon. Most stocks across the market were higher, including two out of three in the S&P 500.

The paring of losses came as optimism rose that Washington may be able to get past its partisanship to deliver more support for the economy. House Speaker Nancy Pelosi told airlines in the afternoon to stop furloughing workers because aid for them is imminent. She said a wider rescue package for the economy, one that investors have long been agitating for, could also perhaps be on the way.

The Dow Jones Industrial Average swung from a loss of 433 points to a gain of as much as 44 points. It was up 2 points, or less than 0.1%, at 27,819, as of 2:08 p.m. Eastern time. Smaller stocks were rallying more than the rest of the market, and the Russell 2000 index of small-cap stocks was up 0.3%.

Big technology stocks remained weak, though, and the Nasdaq composite was down 1.6%. It’s a sharp departure from much of the summer, when Big Tech stocks carried the market higher, though their remarkable ascent left critics calling them too expensive.

Earlier Friday morning, markets appeared set for much sharper declines. Stock futures and Treasury yields tumbled after Trump tweeted overnight that he and First Lady Melania Trump had tested positive for COVID-19.

Analysts said some of the market’s movements could be explained by investors building up expectations for a Joe Biden victory