Good morning from the Financial Times. Today is Wednesday, April 8th, and this is your

F.T. News briefing. There have been more than 12,000 deaths in the US due to the

coronavirus, with a toll topping 4,000 in New York City alone.

Meanwhile, Americans are feeling the economic effects of the outbreak too.

An FT and PG-Peterson Foundation poll found that nearly three quarters of those

surveyed say their income has taken a hit due to the coronavirus pandemic.

And the U.S. has been struggling to keep up with the demand for the small business loans that are part of a $2 trillion stimulus package.

But more funding might be on the way.

Plus, we work as suing Soft Bank for backing out of a $3 billion share buyout deal, and the FT's

Rob Smith explains why Bond investors were so interested in the cruise company, Carnival.

I'm Mark Filipino, and here's the news you need to start your day.

Yesterday a group of senior U.S. Bank executives President Donald Trump Donald Trump, and US Treasury Secretary Stephen

Munution held a video conference.

They discussed the pace of loan applications to help out small businesses.

Mr. Trump says the Small Business Administration has processed 70 billion dollars worth of loans.

This is less than a week into the implementation of an agreed 350 billion dollar loan program.

But given that small businesses are under severe strain due to the economic knock on effects

of the coronavirus outbreak and are trying to secure these loans at a rapid rate,

there's now the possibility of additional funding

for this loan program.

The F.T.'s Washington correspondent, Lauren Fiedor,

has more on the conversations between the White House, Congress, and Banks.

...