As global infections top 6 million, LA suspends testing after riots rock city

As demonstrations erupted in major U.S. cities across the nation in response to the death of unarmed black man George Floyd, peaceful protests turned ugly as demonstrators set fires, looted stores and clashed with riot police. The destruction prompted Los Angeles to suspend coronavirus testing Saturday afternoon due to safety concerns.

“We have been notified that all #COVID-19 testing centers throughout LA will be closed until further notified. A troubling consequence of social breakdown prompted by excessive use of force resulting in the death of another unarmed African American man, Mr. George Floyd,” according to a tweet by Los Angeles County Supervisor Mark Ridley Thomas.

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 6.1 million
  • Global deaths: At least 371,995
  • U.S. cases: More than 1.78 million
  • U.S. deaths: At least 104,381

The data above was compiled by Johns Hopkins University.

Recent economic trends could signal a potential recovery

3:45 p.m. ET — Though the U.S. economy suffered a significant downturn amid the coronavirus pandemic, recent data across multiple business sectors indicates that things are beginning to look a little bit brighter.

As states move forward in their reopening progress, more Americans are traveling, buying homes and eating out at restaurants, indicating that some of the hardest-hit industries are starting to revive.

With consumers returning to familiar routines, it could be a sign that the economy is beginning to recover from the outbreak’s devastating impact.Five charts that illustrate these recent trends can be found by clicking here. –Hannah Miller

Even as they ask for more, states are reluctant to spend virus aid

10:27 a.m. ET — Uncertainty and fear among amid the coronavirus pandemic have Americans hoarding cash and putting off spending, sending the savings rate to historic levels. The personal savings rate hit a record 33% in April, the U.S. Bureau of Economic Analysis said Friday.

Turns out, they’re not the only ones reluctant to open up their wallets.  

Many states haven’t spent the federal funds they received more than a month ago to help with soaring coronavirus-related costs, the Associated Press reported. Their unwillingness to part with the aid is complicating governors’ claims that they need hundreds of billions more to weather the crisis.

“If I knew today that another billion dollars was coming to Rhode Island to help solve our budget deficit, I’d spend the $1.25 billion now,” Democratic Gov. Gina Raimondo told AP. When asked about other states that have started spending the aid, she said: “They’re taking a gamble, and I’m just not ready to do that yet.” —Terri Cullen

The University of Michigan takes steps to bring students back on campus

University of Michigan

tiny-al | Getty Images

9:44 a.m. ET — The University of Michigan told CNBC it is taking steps to bring students back on campus this fall.

“The average student is very anxious to get out of mom and dad’s basement and come back to school,” President Mark Schlissel said.

As Jessica Dickler reports, Schlissel is “very optimistic” the school will be able to host what he called a “public-health-informed residential semester.” —Terri Cullen

Google alumni reunite to assist families with home learning

9:05 a.m. ET — Since Covid-19 hit, several ex-Google employees have digitally reunited with each other in efforts to assist families trying to school their children from home amid shelter orders.

“Many know that access to work at companies like Google begin at the youngest levels and are passionate about using their background and abilities to help others get there,” Fong said. “Also, many are now having kids so it’s also a personal interest area and they can understand the customer (parents and kids).”

One of them, Jonathan Rochelle, spent more than a decade at the company, where he led some of the company’s education efforts. The former employees and executives, which hail from Google, Youtube, Cloud and other areas of the company, are not only using their technical skills to connect parents, but they’re also fielding broader questions about what the future of education will look like. —Jennifer Elias

After recovering from Covid-19, Pure Storage CEO plots slow reopening of company offices

8:55 a.m. ET — Charlie Giancarlo, CEO of data center hardware maker Pure Storage, started the company’s earnings call on Thursday by saying he himself had contracted and recovered from the coronavirus. Analysts said they were glad he was feeling better.

In an interview with CNBC on Friday Giancarlo described his experience and said that the company will be cautious as it reopens offices to employees. He said he knows how bad the disease can be. —Jordan Novet

Read CNBC’s previous coronavirus live coverage here: EU asks U.S. to reconsider cutting ties with WHO as India extends lockdown in ‘containment zones.’

The Associated Press contributed to this blog.

Source link

Next Post

370, Jacob Rothschild Turned The Sole Owner Of 'Freescale Semiconductors' Patent — Company Sold For

Mon Jun 1 , 2020
Though there’s elevated talk around the prognosis and remedy of common mood and mental problems like anxiety and melancholy , there’s nonetheless quite a lot of work to be carried out to boost consciousness. I even have a son who loves the sugar stuff. He always wanted to delay bedtime […]