Some California schools may not open this fall


About two months after the coronavirus epidemic caused a nationwide lockdown, 48 states relaxed restrictions on local shelters – only Massachusettes and Connecticut maintained strict lockdown rules – in an effort to reinvigorate their local economies. An NBC News survey of 33 states and Washington, D.C., found that the foreclosure will cost states hundreds of billions of dollars in revenue next fiscal year. The states that are expected to see the largest revenue decline are New York, California, Alaska, New Jersey, New Mexico and Wyoming, NBC News reported.

This is CNBC’s live blog covering all the latest news on the coronavirus epidemic. All times below correspond to Eastern time. This blog will be updated throughout the day as news becomes available.

  • Global cases: more than 4.65 million
  • Deaths worldwide: at least 312,188
  • Cases in the United States: more than 1.46 million
  • Deaths in the United States: at least 88,754

The above data was compiled by Johns Hopkins University.

Delusional Martin Shkreli Denied Early Release

An archive photo of former pharmaceutical director Martin Shkreli.

Getty Images

10:40 am ET: A judge dismissed a request from sentenced pharmaceutical director Martin Shkreli, the so-called Pharma Bro, to get out of prison early to seek treatment for coronaviruses, Associated Press reported. The judge noted that probation officials viewed Shkreli’s complaint as the type of “delusional self-aggrandizing behavior” that led to his conviction, said AP.

US District Judge Kiyo Matsumoto said in a nine-page ruling on Saturday that Shkreli had failed to demonstrate any of the factors that would require his release under house confinement rules.

“Disappointed but not unexpected,” Shkreli’s lawyer Benjamin Brafman told the PA. –Terri Cullen

Some schools in California may not be able to open in the fall, says Governor Newsom

10:25 am ET: Governor Gavin Newsom said schools in some areas of California may not be able to open in the fall if the proper conditions for reopening are not met.

“I think some schools will not be, many schools will be conditioned on our ability to keep our teachers and students safe,” Newsom said in an interview with CNN.

California is moving forward to start this school year strategically and methodically, Newsom said, adding that it is “difficult to answer in absolute terms” if schools can open this fall.

White House health expert Dr. Anthony Fauci testified last week that he did not expect a vaccine to be available in time to “facilitate the return of students in the fall term.” President Donald Trump, on the other hand, has pushed states to reopen schools. “I think schools should be back in the fall,” he told the White House on Friday. –Noah Higgins-Dunn

Tesla County and Alameda officials have developed health guidelines for production, says California governor

An aerial view of the Tesla Fremont plant on May 13, 2020 in Fremont, California.

Justin Sullivan | Getty Images

10:20 am EST: Tesla met with health officials in Alameda County and developed health modifications that his factory in Fremont, California must implement to restart production.

California governor Gavin Newsom told CNN the company could start production as early as Monday.

Newsom lifted manufacturing restrictions as part of California’s Phase 1 reopening plan on May 8, but said local jurisdictions have the power to go ahead with their reopening if they choose to do. Alameda County has decided not to lift restrictions immediately but plans to allow manufacturing to resume on Monday, Newsom said. Tesla had, however, challenged the county home stay order by reopening its factory before the restrictions were lifted.

“They have been able to develop a framework of modifications to ensure the safety of their workers who they believe will have resolved this problem by Monday, and that is the spirit of cooperation,” said Newsom. Newsom said Tesla is one of “hundreds of examples” of companies challenging health orders made by local authorities across the country, although the company is more visible. –Noah Higgins-Dunn

No spike in cases seen in reopening places, says US Secretary of Health

9:25 a.m.ET: State health officials do not see peaks of coronavirus cases in reopening states, although they are seeing an increase in cases in some areas that remain closed, the US secretary of state said. Health, Alex Azar, at CNN.

“We see it in places that open up. We don’t see this peak in the cases, ”said Azar. “We are still seeing peaks in certain regions which are in fact close to very localized situations. “

Azar’s comments run counter to statistics gathered by local health officials showing that coronavirus cases are indeed increasing in states that have taken steps to restart their devastated economies, including Texas. After new reported cases increased by about 1,000 a day in mid-April, they started to climb in May, hitting a new high of around 1,450 on Thursday, according to Jacob Pramuk and John of CNBC. W Schoen reports.

The cases “are certainly increasing, but it is not going to overwhelm our health care system,” Dr. Brian Reed, professor and chair of the department of clinical sciences at the University of Houston College, told CNBC of Medicine. –Terri Cullen

Auto supplier industry needs at least $ 20 billion to avoid widespread damage

A worker uses a hoist to assemble a car seat at the Lear Corp manufacturing plant in Hammond, Indiana.

Jim Young | Bloomberg | Getty Images

9:00 am EST: The US auto supplier industry was already under arms this year due to slower sales and higher costs associated with tracking emerging technologies associated with electric and autonomous vehicles. When the pandemic hit, a difficult situation quickly turned into a disastrous one, reports Michael Wayland of CNBC.

While the lockouts were triggered nationwide, many auto suppliers were unprepared for such an immediate and radical economic downturn. Now, the Original Equipment Supplier Association says that an injection of $ 20-25 billion is needed to avoid bankruptcies and mergers and acquisitions of small and medium-sized automotive suppliers. –Terri Cullen

Wuhan in China almost doubles the number of tests per day

8:45 am EST: The Chinese city of Wuhan, the epicenter of the coronavirus epidemic, conducted 222,675 nucleic acid tests on May 16, Reuters reported, citing local health officials. This is almost double the number of tests performed a day earlier.

The improved tests come after the city last weekend confirmed its first cluster of Covid-19 infections since it released a virtual lock on April 8, according to Reuters. –Terri Cullen

US to revise small business aid program

US Secretary of the Treasury Steve Mnuchin speaks in the Brady Information Room at the White House April 2, 2020 in Washington, DC.


7:35 am EST: The United States should revise its funding program to help small businesses overcome the economic damage caused by the coronavirus epidemic, according to a Wall Street Journal report.

Among the changes envisioned for the Paycheck Protection (PPP) program are loosening restrictions on how businesses spend loaned funds, as well as extending the amount of time given to businesses for money, reported the Journal, citing lawmakers.

Under the PPP, small businesses can apply for government-guaranteed loans from local lenders, and these loans can be canceled if at least three-quarters of the loan is spent on wages. –Terri Cullen

Read CNBC coverage of Asia and Europe overnight: Number of deaths per day in Spain drops below 100 for the first time in two months


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