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Yahoo BusinessFeb 23, 2020
Korea Confirms 161 New Cases as Outbreak Spreads: Virus Update
(Bloomberg) -- China's novel coronavirus outbreak is spreading further in countries outside of Asia, raising concerns about the prospect of a pandemic as trading in the region got underway for the week.South Korea said it had 161 additional virus cases, along with two more deaths, to bring the total death toll there to seven. The country had earlier raised its infectious-disease alert to the highest level after a 20-fold increase in cases.Europe's concerns were also heightened over the weekend, which saw Austria halt a train from Italy for fear of two infected passengers. This came after Italy -- now the virus's epicenter on the continent -- canceled the Venice Carnival and other events.Key DevelopmentsBREAKING: South Korea says 161 more cases; death toll at 7Cathay Pacific cuts further capacityChina cases rose to at least 76,936 with 2,442 fatalities over weekendItaly infections soarIMF's Georgieva says outbreak puts recovery at riskClick VRUS on the terminal for news and data on the coronavirus and here for maps and charts. For analysis of the impact from Bloomberg Economics, click here.Korea's Ruling Party Urges Extra Budget (7:37 a.m. HK)The Democratic Party of Korea assessed that the nation, which has hundreds of virus cases, will need more than 10 trillion won ($8.3 billion) in extra budget to support the economy and provide aid for losses related to the outbreak, according to the Seoul Shinmun newspaper, citing an unidentified party official.Cathay Slashes More Capacity (7:12 a.m. HK)Hong Kong carri
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