At least 15 states reopening this weekend


States across the U.S. are reopening after coronavirus-enforced lockdowns while protests erupted in places where stay-at-home rules remain in place. In states like California and Michigan, groups demanded the easing of restrictions. A big week of earnings are in, and tech giants Apple, Alphabet, Amazon, Facebook, Microsoft and Tesla have all reported, providing a first look at how the pandemic has affected some of the biggest companies in the U.S.

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 3.3 million
  • Global deaths: At least 239,090
  • US cases: More than 1.1 million
  • US deaths: At least 65,068

The data above was compiled by Johns Hopkins University.

11:48 am: Economic hit from pandemic-enforced sports shutdowns could bring ownership changes

A view of the empty AmericanAirlines Arena before the start of an NBA basketball regular season game between the Miami Heat and the Charlotte Hornets on Wednesday, March 11, 2020 in Miami.

David Santiago | Miami Herald | Getty Images

With the coronavirus pandemic shutting down professional sports around the world and cutting off vital revenue streams, teams could be on the verge of ownership changes.

Charles Baker, a partner at law firm O’Melveny, told CNBC’s Jabari Young there are “often one-off conversations” among interested buyers and owners in major U.S. teams, as the pandemic continues to impact revenue streams.

To deal with the disruption, some owners could offer to sell stake in a team, while other opportunities could become available as current partners look to get out.

Baker, who represented David Tepper in his $325 million acquisition of a Major League Soccer expansion franchise, estimated a “potential 15% to 20% drop” in team control and limited-partner positions. He said teams heavily dependent on “match day revenue” are most at risk for ownership changes. —Chris Eudaily

11:32 am: Death toll in the UK climbs to 28,131

The Covid-19 death toll in the United Kingdom rose to 28,131 Friday, which is just shy of Italy, the country with the highest number of deaths from the virus in Europe, Reuters reports.

Italy reported 28,236 dead from Covid-19 as of May 1, according to Reuters. —Chris Eudaily

11:09 am: At least 15 states begin first phase of easing restrictions as May kicks off

A “Beach Guidelines” sign indicates new social distancing rules at a public beach in Dauphin Island, Alabama, U.S., on Friday, May 1, 2020. Alabama lifted their stay-at-home order and have allowed most businesses to open, subject to sanitation and social-distancing guidelines, Alabama Media Group reported.

Maranie Staab | Bloomberg | Getty Images

At least fifteen states are beginning to reopen this weekend as the government eases some restrictions and stay-at-home mandates that were put in place to prevent further spread of the coronavirus. 

States that are starting the first stage of their reopening plan include Alabama, Colorado, Idaho, Illinois, Louisiana, Maine, Nebraska, Nevada, New Jersey, New Mexico, Pennsylvania, Tennessee, Texas, Wisconsin and Wyoming.

Each state outlines different reopening guidelines but most are allowing nonessential businesses to offer curbside pickup, drive-thru and delivery services, the construction industry to resume work, hair salons and barbershops to restart their business and state parks to reopen. 

While state governments are working to reopen their economies, social distancing rules and safety measures such as wearing face coverings are still in place. —Jasmine Kim

10:51 am: Spain reopens after strict lockdown as people rush outside

People exercise in Valencia on May 2, 2020, during the hours allowed by the government to go out and exercise, for the first time since the beginning of a national lockdown to prevent the spread of the COVID-19 disease. All Spaniards are again allowed to leave their homes since today to walk or play sports after 48 days of very strict confinement to curb the coronavirus pandemic.

Jose Jordan | AFP | Getty Images

Spaniards were allowed to exercise outdoors for the first time in 49 days as some of the strictest coronavirus restrictions in the world began easing across the country, Reuters reported.

“We are reaping the rewards of the sacrifices we have made during these long weeks,” Prime Minister Pedro Sanchez said, adding that the risk of a resurgence remains, according to Reuters.

Spain has 213,235 recorded Covid-19 infections according to Johns Hopkins University, the second-highest in the world, and imposed a strict lockdown in March. Sports and walks were banned, Reuters reported. —Chris Eudaily

10:30 am: US automakers face major hurdles in reopening plants

The entrance of the decommissioned plant where General Motors is producing medical face masks in Michigan displays coronavirus safety procedures next to a table with hand sanitizer, masks and safety glasses.

Michael Wayland / CNBC

U.S. auto plants began shutting down in March, and some automakers only expected the closings to last days or weeks.

But the majority of auto plants were closed through April and reopening dates are a moving target.

Auto manufacturing is facing a number of obstacles to reopen, from worker safety and local mandates to supply chain logistics and supplies.

“It’s extremely complex,” Ford Motor Chief Operating Officer Jim Farley said.

“It’s critical that we get this restart right,” Farley said. A false start could further set the industry back, CNBC’s Michael Wayland reports, which could endanger lives and complicate matters even more. —Chris Eudaily

10:03 am: Protesters challenge lockdown orders, demand that businesses are reopened

Demonstrators rally in front of posters with California Governor Gavin Newsom outside Los Angeles City Hall on May 1, 2020, to demand the end to the state’s shutdown due to the coronavirus pandemic.

Frederic J. BROWN | AFP | Getty Images

Protesters in at least 10 states on Friday demanded that the government lift stay-at-home orders and other emergency measures put in place to slow the spread of the coronavirus.

Among the states that saw protests are California, Colorado, Delaware, Florida, Illinois, New Jersey, New Mexico, New York, Tennessee and Washington.

Protesters, who were often photographed not wearing face coverings, urged the re-opening of businesses in their individual states, waving signs with messages against state leadership. Among their principal backers has been President Donald Trump, who tweeted words of encouragement to protesters in support of re-opening businesses nationwide to prop up the economy, which has been ravaged by the pandemic.

But despite the protests, multiple governors have said that they will determine whether to re-open their states only when they deem it’s safe to do so. —Yelena Dzhanova

9:48 am: Updated map of US coronavirus hotspots as infections now total 1,104,345

9:41 am: Berkshire Hathaway takes $50 billion hit from pandemic

Berkshire Hathaway’s operating profit rose, but Warren Buffet’s company posted a net loss of nearly $50 billion as the Covid-19 pandemic dealt a major blow to its common stock investments, Reuters reported.

Berkshire posted a first-quarter net loss of $49.75 billion, or $30,653 per Class A share, which reflected $54.52 billion of losses from investments, mainly common stocks, according to Reuters.

Quarterly operating profit rose 6% to $5.87 billion. —Chris Eudaily

9:17 am: CDC official says US missed chances to slow virus

Anne Schuchat, director of the Centers for Disease Control (CDC), speaks during a U.S. Senate Committee on Health, Education, Labor, and Pensions hearing at the U.S. Capitol in Washington, D.C., on Tuesday, March 3, 2020.

Stefani Reynolds | Bloomberg via Getty Images

Early limited testing and the lack of travel alerts for areas outside China contributed to the rise in U.S. coronavirus cases in February, a high-ranking official at the Centers for Disease Control and Prevention said Friday, the Associated Press reports.

“We clearly didn’t recognize the full importations that were happening,” Dr. Anne Schuchat, the No. 2 official at the CDC, told the AP.

The CDC published an article by Schuchat Friday analyzing the U.S. response to the outbreak, which found that the top health agency in the country missed chances to slow the spread, according to the AP. —Chris Eudaily

9:01 am: Farmers markets change amid the pandemic

Farmers and others involved in open-air markets have had to make changes to adapt to a world that has safety at the top of mind, the Associated Press reports.

Some venues have instituted adjusted opening times or days, drive-thrus and fences, according to the AP.

“The crowds are small and there aren’t many vendors,” Johnny Gyergyou, who has sold goods at Eastern Market in Detroit for 12 years, told the AP. Gyergyou said that it’s not cost-effective to take loads 33 miles from his home to the market, where they may not sell. —Chris Eudaily

8:30 am: US hospitals increasing safety measures 

A “prone team,” wearing personal protective equipment (PPE), turns a COVID-19 patient onto his stomach in a Stamford Hospital intensive care unit (ICU), on April 24, 2020 in Stamford, Connecticut.

John Moore | Getty Images

As parts of the U.S. begin to open up after coronavirus stay-at-home orders, hospitals are putting more safety procedures in place to help reassure people coming in for other kinds of treatment, Reuters reports.

Hospitals are using plexiglass dividers, testing patients in advance and limiting elevator traffic as part of a safety push before beginning elective procedures and nonessential operations, which were put on hold as hospitals dealt with a crush of Covid-19 cases, Reuters reported.

“We have to convey to the public that we are safe … and to defer medical care in urgent situations will cause more harm,” Mark Solazzo, chief operating officer at Northwell Health, New York’s largest healthcare provider, told Reuters.

Medical providers are starting to tell patients that they can return for non-coronavirus procedures. —Chris Eudaily

Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: Russia reports highest daily rise in cases; Singapore prepares to ease partial lockdown



Source link




Leave a Reply

Your email address will not be published. Required fields are marked *