MINNEAPOLIS (Feb 12): Federal Reserve Chairman Jerome Powell said the coronavirus outbreak in China that has killed at least 1,112 people poses a risk to the U.S. and world economy.

The World Health Organization has given an official name to the disease caused by the new coronavirus: Covid-19. As Hong Kong cases grow to almost 50, the U.S. State Department raised its travel advisory for the city to level 2, which means visitors should exercise increased caution.

A luxury liner carrying 2,257 people continues to seek a haven after at least five ports turned it away, citing virus fears.

Cruise Ship Risks Running Low on Supplies (6:47 a.m. HK)

Countries could continue to refuse to berth the Westerdam cruise ship carrying 2,257 people, citing fears of the deadly coronavirus, until conditions on the luxury liner become so dire that it invokes an emergency.

The cruise ship operated by Carnival Corp.’s Holland America Line could be forced to wait until it’s in distress -- running out of water, food or fuel -- before international law-of-the-sea conventions kick in and legally obligate the closest country toadmit the vessel or provide help, according to maritime experts.

“The countries are all passing the buck until it lands in the lap of someone who has to take the ship because the ship’s run out of fuel or food,” said Jean-Paul Rodrigue, a professor of transit geography at Hofstra University in New York. “When the ship is in distress, the nearest port of call will be bound in this case to help. That’s the law.” Thailand on Tuesday became the fifth country or territory to deny the Westerdam access to its ports, according to the World Health Organization. The ship’s operator has said it has no reason to believe there are any cases of coronavirus on board.

Hubei Reports 94 Additional Deaths (6:14 a.m. HK)

Hubei, the province at the center of the coronavirus outbreak, disclosed an additional 94 deaths for Feb. 11, bringing the total number of fatalities worldwide to at least 1,112. Some 1,068 of those deaths have occurred in Hubei. The province reported 1,638 additional cases, the lowest daily level this month. The total number of confirmed cases in Hubei climbed to 33,366.

Two deaths have been reported outside mainland China, one in Hong Kong and the other in the Philippines.

J&J Says It Will Accelerate Vaccine Work (4:34 p.m. NY)

Drugmaker Johnson & Johnson will accelerate work on its attempts to develop a vaccine for the new coronavirus, expanding a collaboration with the U.S. government’s Biomedical Advanced Research and Development Authority, the company said in a statement. Under the agreement, J&J and Barda will share some R&D expenses, and J&J will will work to expand production capabilities for a potential vaccine.

U.S. Raises Travel Advisory for Hong Kong (3:20 p.m. NY)

The U.S. State Department raised its travel advisory for Hong Kong to level 2, which means travelers should exercise increased caution.

“The Hong Kong government has reported cases of the novel coronavirus in its special administrative region, has upgraded its response level to emergency, its highest response level, and is taking other steps to manage the novel coronavirus outbreak,” the department said.

Last month, the U.S. raised the advisory for mainland China to level 4, the highest designation, which means do not travel.

American Airlines Extends Flight Suspensions (1 p.m. NY)

American Airlines Group Inc. on Tuesday extended the suspension of U.S. flights to Shanghai and Beijing and between Los Angeles and Hong Kong through April 24.

The suspension is about a month longer than planned because of an ongoing decline in demand, said the airline. The carrier also said it won’t fly between Dallas-Fort Worth and Hong Kong until at least April 24, about two months longer than it originally expected, for the same reason.

Powell Says Fed Monitoring Virus (12 p.m. NY)

Federal Reserve Chairman Jerome Powell said the U.S. central bank is keeping a close eye on fallout from the deadly coronavirus outbreak in China, singling it out among risks threatening the U.S. and world economy.

“In particular, we are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy,” Powell said in remarks before U.S. lawmakers.

Powell stopped short of saying the outbreak had changed the Fed’s baseline outlook for the U.S. economy. Powell faced questions from lawmakers of the House Financial Services Committee about the potential impact of the virus on the U.S. economy.

“We know that there will be some, very likely be some effects on the United States,” he said, adding that the question for the Fed is whether they’ll be “persistent” and “material.”

U.S. Health Official Raises Concerns About Cruise Ship (12:19 p.m. NY)

A top U.S. health official said that quarantining large numbers of people on cruise ships to contain cases of the coronavirus may present issues.

“The increased cases count is making authorities really look critically at what is the safest thing,” said Anne Schuchat, principal deputy director of the Centers for Disease Control and Prevention, during a press event Tuesday in Washington.

Several cruise ships have been quarantined or turned away from ports because of concerns about infections on board. Some older cruise passengers can be at particular risk of complications from the virus.

First Quarantined American Evacuees to Be Released (10:30 a.m.
NY)

A first group of Americans who were quarantined after being repatriated from the center of the outbreak in China are expected to be released Tuesday, Anne Schuchat, principal deputy director of the U.S. Centers for Disease Control and Prevention, said at a press conference Tuesday.

Health workers are doing final checks to make sure none of the people are showing symptoms.

The U.S. has been putting those evaluated from the outbreak into quarantines of at least 14 days, part of a broad set of measures to stop potential spread of the virus by returning Americans and their family members. A first group of about 200 Americans was repatriated last month, and the U.S. has been running quarantine centers at military bases.

State Department to Let Some Hong Kong Staff Depart (10:25 a.m.
NY)

The U.S. State Department will let non-essential diplomats and their families based in Hong Kong leave if they want to, amid growing fears about the spread of the coronavirus there. Hong Kong consular staff and their families aren’t required to leave, a State Department spokesperson said Tuesday, speaking on condition of anonymity. The move is being taken out of an abundance of caution and the consulate will remain open, the person said. Nevertheless, the decision is likely to be closely reviewed by other countries and businesses as they plan how to gauge their response to the outbreak.

The State Department move comes as the number of cases in Hong Kong continues to grow, with at least 49 confirmed infections and one death. The U.S. shut its consulate in Wuhan, China, the center of the outbreak, and has allowed diplomats and family members to leave other outposts in China if they wish.

Disease Is Officially Named Covid-19, WHO Says (10:10 a.m. NY)

The disease cause by the new coronavirus that emerged in Wuhan, China, has been officially named Covid-19, the World Health Organization said at a press conference Tuesday in Geneva.

The pathogen itself has gone by the designation 2019-nCoV. WHO Director-General Tedros Adhanom Ghebreyesus said that naming the disease it causes was important, and that the group had been conscious about not picking a name that could be inaccurate or stigmatizing.