More stores in China close, Trump heaps praise on Xi

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All times below are in Eastern time.

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Total cases: More than 31,000 as of Friday morning.
Total deaths: At least 636 worldwide as of Friday morning 

8:39 am Canada Goose says travel restrictions are hurting sales 

8:15 am: Uber CEO Dara Khosrowshahi says outbreak is not hitting the business

7:49 am: Burberry closes a third of its China stores, revises guidance

Burberry was the latest big brand to warn of a hit to demand, withdrawing its financial guidance for 2020 and saying it had closed more than a third of its stores in mainland China. It said spending by Chinese tourists in Europe and elsewhere had not been hurt as much, but given widening travel restrictions, it forecast this would worsen in the coming weeks. — Reuters

7:20 am: Ericsson withdraws from major Barcelona conference over coronavirus concerns

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Sweden’s Ericsson has announced it will not attend Mobile World Congress (MWC) in Barcelona, Spain later this month, saying it cannot ensure the safety of employees and customers amid concerns over the coronavirus. “The health and safety of our employees, customers and other stakeholders are our highest priority. This is not a decision we have taken lightly,” Borje Ekholm, president and CEO of Ericsson, said in a statement on Friday. “We were looking forward to showcasing our latest innovations at MWC in Barcelona. It is very unfortunate, but we strongly believe the most responsible business decision is to withdraw our participation from this year’s event,” he added. — Meredith

6:35 am: WHO director-general warns of a chronic shortage of personnel protective equipment

The director-general of the World Health Organization has warned about the risk of a chronic shortage of protective equipment as countries work to tackle the coronavirus outbreak. Speaking at an executive board meeting at WHO headquarters in Geneva, Switzerland, Tedros Adhanom Ghebreyesus said he was concerned about a lack of masks, gloves and other protective equipment, Reuters reported. Tedros also said there had been fewer reported coronavirus infections in China over the last two days. However, “the numbers could go up again,” he cautioned. Late last month, health experts told CNBC that the panic buying of face masks to protect against the coronavirus was “completely understandable,” but ultimately unwarranted. They also warned a shortage of masks could pose a risk to health workers. — Meredith

5:55 am: Trump hails ‘great discipline’ in China to tackle coronavirus

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