BREAKING: CoronaVirus Update

BREAKING: CoronaVirus Update

BREAKING: New coronavirus update. John Iadarola breaks it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/

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Read more here: https://www.cnbc.com/2020/02/13/coronavirus-latest-updates-china-hubei.html

"6:03 pm: Chinese smartphone maker Xiaomi warns of first-quarter smartphone hit

The chief executive of smartphone maker Xiaomi said the the disruption caused by the coronavirus outbreak could impact first-quarter sales, but CEO Lei Jun said Thursday that he believes demand will bounce back in the second and third quarters.

“Due to the outbreak of (the) virus, this year’s first quarter smartphone sales will face an impact, but we believe that in the second and third quarters they will strike back. Overall, the impact might not be that serious,” the CEO said, according to a translation of his comments from the company provided to CNBC’s Arjun Kharpal.

5:48 pm: Japan will spend 10.3 billion yen ($93.9 million) to fight the coronavirus, Abe says

Japanese Prime Minister Shinzo Abe said Thursday that the cabinet will decide on Friday to spend 10.3 billion yen from the country’s budget to respond to the coronavirus, Reuters reported. Steps to tackle the outbreak will total 15.3 billion yen, he added after a meeting of a task force."

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