COVID-19: What you need to know about the coronavirus pandemic on 25 November – World Economic Forum

1. How COVID-19 is affecting the globe

Confirmed cases of COVID-19 have now passed 59.7 million globally, according to the Johns Hopkins Coronavirus Resource Center. The number of confirmed deaths stands at more than 1.4 million.

Tokyo is set to ask bars and restaurants to operate shortened hours, following sharp rises in COVID-19 infections.

A Japanese campaign promoting domestic travel has also been paused in two cities - Sapporo and Osaka - as a result of rising infections.

Italians have been warned by Prime Minister Giuseppe Conte not to ski over the Christmas holiday, in order to help curb a second wave of the COVID-19 pandemic.

France is set to begin easing its COVID-19 lockdown this weekend, in a gradual reopening, that won't see restaurants, cafes and bars reopening until 20 January. We must do everything to avoid a third wave, do everything to avoid a third lockdown, President Emmanuel Macron said.

The four nations of the United Kingdom have agreed a plan to relax restrictions over the Christmas period. Up to three households will be able to create a 'bubble' and meet at home from 23-27 December.

Using blood plasma from COVID-19 patients to treat others with severe pneumonia caused by the virus has little benefit, according to data released from a clinical trial in Argentina.

Britain has reported its highest COVID-19 death toll since May, with 608 deaths.

2. Americans urged to stay at home

US health officials and politicians have urged Americans to stay at home over the Thanksgiving holiday.

There are fears the holiday weekend could fuel a surge in infections across the country, as the daily death toll climbed about 2,000.

Cases continue to rise in the United States.

Image: Our World in Data

We are on fire with COVID, Kentucky Governor Andy Beshear said on CNN, defending unpopular restrictions he ordered last week that included new limits on retail activity and school closures. Were just trying to do the right thing.

More than half of states have imposed, or reimposed, restrictions in the face of rising infections.

3. Airlines set to lose $157 billion

The International Air Transport Association (IATA) has forecast airlines will lose $157 billion over this year and next, as a result of the travel slump caused by the COVID-19 pandemic.

The downgraded forecast, which stood at $100 billion in June, comes despite the promise of COVID-19 vaccines.

The positive impact it will have on the economy and air traffic will not happen massively before mid-2021, IATA Director General Alexandre de Juniac told Reuters.

Passenger numbers are expected to drop to 1.8 billion this year from 4.5 billion last year and will recover only partially to 2.8 billion next year. Passenger revenue for 2020 is expected to have plunged 69% to $191 billion.

The average airline has enough liquidity to survive another 8.5 months, but others have just weeks.

The first global pandemic in more than 100 years, COVID-19 has spread throughout the world at an unprecedented speed. At the time of writing, 4.5 million cases have been confirmed and more than 300,000 people have died due to the virus.

As countries seek to recover, some of the more long-term economic, business, environmental, societal and technological challenges and opportunities are just beginning to become visible.

To help all stakeholders communities, governments, businesses and individuals understand the emerging risks and follow-on effects generated by the impact of the coronavirus pandemic, the World Economic Forum, in collaboration with Marsh and McLennan and Zurich Insurance Group, has launched its COVID-19 Risks Outlook: A Preliminary Mapping and its Implications - a companion for decision-makers, building on the Forums annual Global Risks Report.

The report reveals that the economic impact of COVID-19 is dominating companies risks perceptions.

Companies are invited to join the Forums work to help manage the identified emerging risks of COVID-19 across industries to shape a better future. Read the full COVID-19 Risks Outlook: A Preliminary Mapping and its Implications report here, and our impact story with further information.

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COVID-19: What you need to know about the coronavirus pandemic on 25 November - World Economic Forum