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NEW YORK (AP) — Stocks and bond yields have tumbled as an oil war broke out in the middle of the viral outbreak that has beset markets for weeks. Saudi Arabia slashed oil prices after OPEC failed to get some allies to cooperate on production cuts. The price of U.S. crude fell as much as 34% to $27.34 a barrel, the lowest price since early 2016. Since a ship was quarantined for two weeks in Japan, few sectors have been harder hit than the cruise industry. It got worse over the weekend. The U.S. State Department issued an advisory against travel on cruise ships, particularly for travelers with underlying health conditions. Separately, the CDC noted an “increased risk of infection of COVID-19 in a cruise ship environment.”
BEIJING (AP) — Some white-collar workers are returning to Beijing's offices while taking extra precautions to avoid getting sick. Chinese authorities shut down much of the country in late January to control the coronavirus epidemic. But with the government lifting those restrictions gradually, it's not yet life as usual. Beijing's city government limits offices to no more than half normal staffing levels. Workers must wear masks and keep their distance from one another. And they shouldn't face each other when eating. It will be a while before business resumes its usual pace in the world's second-largest economy. Travel is still restricted in places, supply chains are disrupted and customers are staying home.
BEIJING (AP) — A 10-year-old boy and his mother have been rescued 52 hours after being trapped in the collapse of a virus quarantine site in southeastern China. Video released by rescuers showed the two being pulled from the debris of the hotel that collapsed on Saturday. The location of the boy and woman was discovered late Monday night and they were freed around midnight after three hours of painstaking digging. The hotel in the city of Quanzhou had been a quarantine site for people exposed to the new coronavirus. Eighteen people died in the collapse and 12 are missing.
SEOUL, South Korea (AP) — North Korean leader Kim Jong Un supervised his second live-fire artillery exercise in a week as the country continues to expand its military capabilities. The state media reports came a day after South Korea’s military detected the launches of three short-range projectiles off the North’s eastern coast. The reports said Kim showed great satisfaction as his front-line artillery units demonstrated “excellent marksmanship” during the exercise. He was quoted as vowing to build his artillery force into the world's strongest and feared by everyone.
NEW YORK (AP) — Lawyers for Harvey Weinstein say he only deserves five years in prison for his New York City rape conviction after already suffering a “historic” fall from grace and serious health issues. They made the argument in a court papers filed Monday in advance of the 67-year-old former mogul’s sentencing on Wednesday. He was convicted last month on rape and sexual assault charges. His lawyers had contended at trial that any sexual contact was consensual.
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