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Updated March 6, 2020 at 5:22 p. m. IST
HSBC Holding PLC has announced that it has sent more than 100 workers and collaborators to London after one of its workers tested positive for the coronavirus.
HSBC Holding PLC has reportedly announced that it has sent more than a hundred workers and collaborators to London after one of its workers tested positive for the coronavirus. This is the first known case in a giant corporation of the European monetary center. The bank also reportedly has a worker in China who tested positive for the virus but is now in good condition.
Banks around the world are reportedly preparing backup offices and even isolating their groups to ensure that trading continues even if the virus continues to spread. Italy’s UniCredit also reportedly sent home after two new infections were detected among its employees.
On March 5, JPMorgan announced in a note that it would move its investors from New York and London to locations outside their respective cities. The bank is reportedly leading a recovery from the U. K. crisis in Basingstoke, southwest of London, with select construction near Blackfriars Bridge in the central part of the capital that it plans to use as a backup matrix
Read: WHO calls on countries to take coronavirus seriously, says ‘now is the time to make excuses’
Read: Katy Perry and Orlando Bloom postpone Japan due to coronavirus fears?
Regulators around the world are reportedly concerned about the potential for the virus to spread in the monetary sector. They worry that the absence of a key body of workers could lead to liquidity disruptions in the markets if trading companies are unable to function normally. Reportedly, German regulators have also overseen the readiness of banks and other institutions.
The coronavirus and the concern it has caused around the world have not only affected foreign trade, but also tourism, sporting events, and schools. According to reports, around three hundred million students have been sent home worldwide due to school closures in an effort to restrict or involve the spread of the virus.
Read: $8. 3 billion U. S. investment in coronavirus as death toll hits 12
Read: Amid coronavirus, Indian Air Force expands parties, social gatherings and Holi celebrations
Although China still accounts for the largest number of cases due to the virus first appearing there, infections around the world are rising, with countries such as South Korea, Iran and Italy becoming major virus hotspots.
Posted on March 6, 2020 at 17:22 IST
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