The Italian Prime Minister says that “the worst is behind us”; The reopening of Elvis Presley’s Graceland

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Confirmed coronavirus cases worldwide exceeded 5 million Thursday morning as infections continue to accelerate in the Americas. Drug maker AstraZeneca said it had received more than a billion dollars from the American Biomedical Advanced Research and Development Authority, which is part of the Department of Health and Human Services, to develop a vaccine in partnership with the University of Oxford. The company has said it will begin the first dose deliveries by September 2020, but must first prove that its potential vaccine is safe for humans and effectively prevents infection.

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

  • Global cases: more than 5 million
  • Deaths worldwide: at least 328,471
  • Cases in the United States: more than 1.5 million
  • Deaths in the United States: at least 93,439

The above data was compiled by Johns Hopkins University.

Weekly job demand rose 2.438 million, seventh consecutive week of decline

8:52 am EST – Initial unemployment insurance claims totaled 2.44 million last week, the seventh consecutive week of slowdown after a record high of 6.9 million in late March. Economists polled by Dow Jones were looking for 2.4 million claims.

In the nine weeks since the coronavirus lockout shut down much of the US economy, some 38.6 million workers have filed claims.

Learn more about Jeff Cox’s weekly unemployment claims in the United States. —Melodie Warner

Most Americans Will Be Vaccinated By Summer 2021, Morgan Stanley Biotechnology Analyst Predicts

7:17 am ET – Most Americans will be vaccinated against Covid-19 by the middle of next year, said Matthew Harrison, biotechnology analyst at Morgan Stanley, at the Worldwide Exchange.

“We talked about spring through summer 2021 as when we would expect the vast majority of the American population to be vaccinated,” he said, adding that he was watching Moderna, Johnson & Johnson, AstraZeneca, CanSino and GSK-Sanofi as major players in the race for a vaccine.

A vaccine could be approved for wide distribution sooner, he said, but it will take time for any company to increase its manufacturing and distribution capacity. Moderna, which leads the pack, is already building a manufacturing industry and could produce tens of millions of doses by the end of 2020, with an increase of 1 billion doses per year by the middle from 2021. –Will feuer

“The worst is behind us”, says Italian Prime Minister

A Just Eat food delivery rider runs in Piazza Duomo on April 23, 2020 in Milan, Italy.

Pier Marco Tacca

7:09 am EST – Italian Prime Minister Giuseppe Conte said Italy, the first epicenter of the European epidemic, has weathered the worst part of its crisis.

“We can say that the worst is behind us … we cannot stop waiting for a vaccine, otherwise we would end up with an irreparably compromised society and production system,” Conte told the Italian parliament, Reuters reported, then let the country watch. to lift more locking measures.

He also warned the public that “now is not the time to party” after scenes of young people meeting at night in some cities, and also called on the public to take their vacations in Italy. –Holly Ellyatt

Graceland should reopen

6:42 am ET – Elvis Presley’s Graceland in Memphis, Tennessee, reopens Thursday. The museum that has become the rocker’s house organizes visits at 25% of its capacity, forcing employees to wear face masks and encouraging visitors to do the same. It will also limit restaurants to 50% of their capacity. “We will be losing money for the foreseeable future, but we must show the way,” said Joel Weinshanker, managing partner of Graceland Holdings, on CNBC’s “Worldwide Exchange”. Weinshanker also said that workers at Graceland were ready to return. “People were crying, they were so happy” when they found out they were coming back, he added. —Matthew Belvedere

Read CNBC’s previous live coronavirus coverage here: The slowdown in the euro area is easing; US donates $ 1 billion to AstraZeneca for vaccine

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