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Coronavirus live updates: National parks may be next vacation spots, NY deaths fall to lowest level since March

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Coronavirus live updates: National parks may be next vacation spots, NY deaths fall to lowest level since March

 

China’s top diplomat criticized U.S. efforts to hold China accountable for its alleged role in the spread of the coronavirus, calling any aims to force Beijing to pay compensation for the coronavirus a “daydream” and urging the two countries to work together instead.

Momentum is building at the White House for another round of stimulus checks, with President Donald Trump saying this week, “I think we’re going to be helping people out” and “getting some money for them.” A number of issues need to be negotiated in Congress about what form the next relief package takes, but the Republican-held Senate has started to open the door to a more narrow aid proposal.

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The number of coronavirus fatalities in New York state have fallen below 100, Gov. Andrew Cuomo said on Saturday, marking the lowest daily death toll since March 24.

Based on recent travel data, national parks around the U.S. could be ideal destinations this summer as people look to get away after spending weeks under stay-at-home orders

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. 

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  • Global cases: More than 5.3 million
  • Global deaths: At least 340,875
  • Countries with the most cases: United States (more than 1.6 million), Brazil (347,398), Russia (347,398), United Kingdom (258,504), Spain (235,290)

The data above was compiled by Johns Hopkins University.

China tells U.S. to stop wasting time in coronavirus battle; says pursuit of China compensation is a ‘daydream’

8:42 a.m. London time — China’s top diplomat Wang Yi on Sunday criticized U.S. political rhetoric toward China, calling any aims to force Beijing to pay compensation for the coronavirus a “daydream” and urging the two countries to work together instead.

“Some politicians have ignored the most basic facts and concocted too many lies about China and plotted too many conspiracies,” Wang, who serves as China’s foreign minister, said during a news conference at the Chinese parliament. “I want to say here: Don’t waste precious time any longer, and don’t ignore lives.”

Several U.S. lawmakers have called for litigation against the Chinese government over its alleged role in the spread of the coronavirus, whose outbreak began in the Chinese city of Wuhan and was initially kept from the public.

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“If you want to infringe upon China’s sovereignty and dignity with indiscriminate litigation, and extort the fruits of the hard work of the Chinese people, I am afraid this is a daydream and you’ll only humiliate yourself,” Wang said. “What China and the United States need to do the most is to first learn from each other and share their experience in fighting against the epidemic, and help each country fight it.”

China’s state economic planner optimistic on improving consumption

11:58 a.m. Singapore time — Reuters reported that China’s state economic planner Ning Jizhe said consumption for May will point to improvement. Consumer spending has been hit globally as governments impose restrictions in efforts to contain the coronavirus. Ning, vice chairman of the National Development and Reform Commission, told reporters that April data suggests the outlook for growth in consumption is stabilizing, according to Reuters. — Christine Wang

Why Hollywood movie-making may become more virtual in a post-coronavirus world

Sir Ian McKellen has said he was “miserable” while filming “The Hobbit,” compared to playing Gandalf in “Lord of the Rings,” because of too much virtual production, but the technology could become more common in filmmaking in a post-Covid-19 world.

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New Line | WireImage | Getty Images

4 pm ET — Many Hollywood blockbusters had to shut down production during the pandemic.

Weta Digital, Peter Jackson’s visual effects company, thinks the post-Covid world of entertainment creation could lead to more matching of computer and live action.

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While virtual production is suited to social distancing, actors may not like it, and not every release is an “Avatar.” There have been numerable film flops in recent years where a virtual world was key to a movie’s making and marketing. —Donovan Russo

NBA in talks with Disney about resuming season at ESPN complex in July

The NBA Playoffs logo and Official Spalding Balls before a game.

Andrew D. Bernstein | National Basketball Association | Getty Images

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3 pm ET — The National Basketball Association is engaged in “exploratory conversations” with its media partner Walt Disney about resuming its season suspend by Covid-19, the league said.

In a statement released on the league’s Twitter communications account, the NBA says it wants to start the season in late July at Disney’s ESPN complex in Orlando as a “single site for an NBA campus for games, practices, and housing,” the statement said.

On Friday, Milwaukee Bucks co-owner Marc Lasry told CNBC the NBA has a board of governors call next Friday where discussions about restarting will continue. “I think we’ll have something, hopefully within the next 6 to 8 weeks, we should be playing,” he said on CNBC’s “Halftime Report.” The NBA became the major U.S. sports league to suspend games on March 11 due to Covid-19. On May 8, the league officially allowed teams to re-open practice sites in areas where stay-at-home orders are relaxed. —Jabari Young

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New York coronavirus fatalities fall to lowest level since March

Governor Cuomo makes an announcement and holds briefing on COVID-19 response at Feinstein Institute for Medical Research.

Lev Radin | Pacific Press | Getty Images

1:32 pm ET — Coronavirus deaths in New York state have fallen below 100, Gov. Andrew Cuomo said on Saturday, marking the lowest daily death toll since March 24.

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The governor said the 84 new reported deaths was a “tragedy” but that the downward trend shows the state is making great progress.

“The fact that it is down as low as it is, is really overall good news,” Cuomo said during a press conference at the governor’s mansion in Albany. “In my head, I was always looking to get under 100. For me, it’s just a sign of real progress.” —Emma Newburger

National parks could be this summer’s go-to vacation spots

A trail is marked with social distancing signs in Joshua Tree National Park one day after the park reopened after being closed for two months due to the coronavirus pandemic on May 18, 2021 in Joshua Tree National Park, California.

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Mario Tama | Getty Images

1 pm ET — Based on recent travel data, national parks could be ideal destinations this summer as people look to get away after spending weeks under stay-at-home orders. Many national parks across the country are in the process of reopening, with iconic destinations like the Grand Canyon and Old Faithful already accessible to visitors. The parks are usually popular vacation spots  in 2019, the National Park Service system received more than 327.5 million visits, according to the NPS. —Riya Bhattacharjee, Hannah Miller

Italy reports 119 new deaths, 669 new cases

The EGOpro Social Distancing active tag is seen at the cathedral of Florence as it reopens following closure due to the coronavirus outbreak on May 22, 2021 in Florence, Italy. Believed to be the first such system in the world, the device guarantees maximum safety while visiting museums or galleries. It is a small device, provided free of charge to tourists at the beginning of the visits, which once worn signals with a sound, vibrating and lighting, that the minimum allowed distance has been exceeded and does not track the movements and data.

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Laura Lezza | Getty Images

12:32 pm ET — Italy’s death toll from Covid-19 climbed by 119 on Saturday, down from 130 new deaths from the day before, the Civil Protection Agency said, according to Reuters.

The daily number of new cases rose 669 from 652 on Friday, Reuters reported.

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Italy’s death toll now stands at 32,735, the agency said. There were 572 people in intensive care on Saturday, which maintains a long-running decline, according to Reuters.

The agency reports that 2.16 million people have been tested for the virus as of Saturday, according to Reuters. —Chris Eudaily

Digital health stocks see a surge as the pandemic accelerates industry trends

Health-tech stocks vs. S&P 500 since market peak

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11:46 am ET — The transition to remote health services brought about by pandemic lockdowns is moving at warp speed and companies in the telehealth and remote monitoring game are on the front line of that growth.

Hospitals are seeing an increase in virtual visits, CNBC’s Christina Farr and Ari Levy report.

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Ochsner Health, in Louisiana, said it’s conducted more than 120,000 virtual visits so far this year, far outpacing the 3,300 in all of 2019.

“Things that were 10 years away are now here,” said Jake Dollarhide, CEO of Longbow Asset Management. “As companies question, do I need a permanent office or as large an office, they’re also going to say, how do I save on health plans.”

Since the stock market peaked on Feb. 19, the S&P 500 has fallen 13% as of Friday’s close. Over that time, Teladoc has climbed 48%, while digital health management company Livongo has more than doubled. One Medical, which offers in-person and virtual services, has jumped 52%. —Chris Eudaily

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Wuhan conducts 1.4 million coronavirus tests in one day

Travelers walk to the exit of the Hankou Railway Station in Wuhan in central China’s Hubei province Wednesday, April 08, 2021, after 76 days of lockdown of the city due to Covid-19.

Barcroft Media | Getty Images

11:15 am ET — The city of Wuhan conducted 1,470,950 tests for the virus on Friday, the local health authority said, according to Reuters.

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The city, which is the original epicenter of the outbreak in China, had 1,000,729 tests the previous day, Reuters reported.

On May 14, the city began a campaign to find asymptomatic carriers after discovering a cluster of infections May 9 and 10, Reuters reported. It was the first cluster of Covid-19 infections since the region’s lockdown was lifted on April 8. —Chris Eudaily

Gyms reopen with more precautions and fewer customers, but health experts warn the virus risk isn’t gone

A person disinfects an elliptical machine at a gym in New Orleans, Louisiana, on Saturday, May 16, 2021. Louisiana entered its phase 1 of reopening on Friday after Governor John Bel Edwards loosened restrictions on certain business in the state.

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Bryan Tarnowski | Bloomberg via Getty Images

10:46 am ET — As a handful of states begin to ease restrictions put into place to control the spread of the coronavirus, states like Texas, Florida, Georgia and Arizona have given gyms the green light to resume operations with reduced occupancy and expanded health precautions.

Joe Cirulli, the founder of Gainesville Health and Fitness in Florida, said he’s spent thousands of dollars in enhanced cleaning and sanitation practices for his chain of gyms, such as extra electrostatic cleaning supply to spray workout equipment daily and enough hand sanitizer and wipes to place throughout the entire gym.

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“We ordered everything, everything,” Cirulli said.

Health experts warn, however, that the coronavirus still has room to spread.

While the transmission of the virus may be manageable by wiping down surfaces, Cindy Prins, an associate professor of epidemiology at the University of Florida, said that people coughing into the air in a shared space like a gym or restaurant could spread Covid-19.

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“I think we need to remember that this is primarily a virus spread by airborne droplets that we breathe out in the air,” Prins said. “I miss the gym, I really want to go back. I’m not comfortable yet with that.” —Noah Higgins-Dunn

Cases in Alabama are increasing with the state reopening much of its economy

People sit on the sand at a public beach in Dauphin Island, Alabama, U.S., on Friday, May 1, 2021. 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

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10:28 am ET — Alabama Gov. Kay Ivey called for “personal responsibility” as the state has reopened much of its economy while pushing residents to continue health precautions, but leaders are struggling to get the public to buy in, the Associated Press reports.

In the state’s most populous area, Jefferson County, officials said increasing cases and hospitalizations have led to the need for tighter rules than those set by Ivey, according to the AP.

New daily cases in the state have risen to 307 from 268, according to an AP analysis of testing data from The COVID Tracking Project, and the rate of daily tests coming back positive has increased from 6.7% to 7.5%. The AP used seven-day rolling averages to account for daily variability in the testing data.

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In many public places it is rare to see a covered face, the AP reported.

“As I’ve gone out to some of these retail stores, I’ve noticed that people are not wearing masks,” said Dr. Rachael Lee, an infectious diseases expert with the University of Alabama at Birmingham, according to the AP. —Chris Eudaily

Memorial Day will lift alcohol sales, but industry is still reeling from restaurant closures

9:52 am ET — Memorial Day weekend usually drives consumers to liquor stores.

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But with government officials urging Americans to continue social distancing and stay close to home, consumers are unlikely to spend as much on alcohol as last year.

“I’m sure that there’s going to be some drop in sales,” Euromonitor International research analyst Aga Jarzabek said in an interview. “It’s going to be much lower than last year, but I wouldn’t be surprised if it’s still a pretty huge spike for Memorial Day.”

The alcohol industry is already reeling from the closures of bars and restaurants, although many consumers shifted to buying their beer, wine and spirits in stores or online. —Amelia Lucas

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Here’s why guidance from scientists has changed throughout the pandemic

People wearing face masks as a preventive measure walk along the Venice Beach in Los Angeles, California.

Ronen Tivony / Echoes Wire/Barcroft Media via Getty Images

9:28 am ET — Scientists have changed their minds as new evidence has come to light amid the coronavirus pandemic. But many fear that it’s making them seem unreliable, making it less likely that the public will follow their recommendations.

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However, science communicators say that it’s “part of the process” for thinking and best practices to evolve over time, particularly in a situation when the virus is so new.

Vinay Prasad, a hematologist-oncologist and associate professor of medicine at the University of California San Francisco, said that the best scientists are “continually re-evaluating themselves to see what we got right and what we got wrong.”

As he put it: “It’s a high mark to be able to say, ‘I’m going to change my mind’.” —Christina Farr

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U.K.’s Boris Johnson defends key advisor who drove 250 miles during lockdown

Britain’s Prime Minister Boris Johnson leaves 10 Downing Street in central London on May 6, 2021 to attend Prime Minister’s Questions (PMQs) in the Houses of Parliament.

Daniel Leal-Olivas | Getty Images

9:08 am ET — British Prime Minister Boris Johnson has defended the actions of Dominic Cummings, a key aide, who drove 250 miles during lockdown with his wife who had symptoms of Covid-19.

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It transpired Saturday that Cummings — the advisor behind the successful Brexit campaign — drove from London to Durham, in northern England, at the end of March so his son could be cared for by family if he and his wife got ill. The trip took place after Johnson announced the start of strict coronavirus lockdown measures from March 23.

Opposition parties have called for Johnson to sack Cummings.

On Saturday, a spokesman for Johnson said Cumming’s wife has symptoms of the coronavirus at the time of the journey, and there was a “high likelihood” Cummings would also get ill.

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As such, the spokesman said that Cummings did not break lockdown guidelines.

“His actions were in line with coronavirus guidelines,” Johnson’s spokesman said Saturday. “Mr Cummings believes he behaved reasonably and legally.” —Katrina Bishop

Protests break out in Spain over lockdowns, government’s handling of the pandemic

Demonstrators take part in a “caravan for Spain and its freedom” protest by far-right party Vox in Barcelona on May 23, 2021. The left-wing government’s management of the crisis has drawn a barrage of criticism from right-wing parties who have denounced its “brutal confinement”. (Photo by Pau Barrena / AFP) (Photo by PAU BARRENA/AFP via Getty Images)

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Pau Barrena | AFP | Getty Images

8:44 am ET — A procession of thousands of vehicles drove through Madrid Saturday, honking, waving Spanish flags and protesting against the country’s coronavirus lockdown, Reuters reported.

The far-right Vox party called for the protest, according to Reuters, where demonstrators called for Prime Minister Pedro Sanchez and Deputy Prime Minister Pablo Iglesias to resign over the handling of the pandemic and the damage to the economy.

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“It is time to end the #stateofabuse that Pedro Sanchez and Pablo Iglesias are using to gag Spaniards,” Vox said in a statement, according to Reuters.

Spain instituted some of the toughest lockdown measures in Europe, and though the country has eased some restrictions, Madrid and Barcelona have continued restrictions due to bigger outbreaks, according to Reuters.

A speech by Vox leader Santiago Abascal was broadcast on EsRadio so people could listen in their cars, Reuters reported. He said the government was “directly responsible for the worst management of this crisis on the entire planet.” —Chris Eudaily

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Read CNBC’s previous coronavirus live coverage here: Russia’s total cases surpass 335,000, Patrick Ewing hospitalized

 

(Note: This is a Article Automatically Generated Through Syndication, Here is The Original Source

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New Class-Action Lawsuit Accuses Rivian of Making Materially False and Misleading Statements

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New Class-Action Lawsuit Accuses Rivian of Making Materially False and Misleading Statements

Electric vehicle manufacturer Rivian has been slapped with a lawsuit which alleged that the company misled the investors with false claims regarding its business, operations and prospects.

The class-action lawsuit made a number of allegations which included overstating the demand of its Electric vehicles and also not making it clear how it will handle the negative and near-term macroeconomic impacts.

The lawsuit also revealed that Rivian’s business was experiencing reduced demands as well as increased customer cancellations precipitated by inter alia, high interest rates.

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The orders had significantly reduced and this has significantly reduced the profits and the manufacturing of vehicles in 2024.

Rivian Faces New Class-Action Lawsuit Alleging Deceptive Statements

The lawsuit also alleged that the Company’s public statements were materially false and misleading at all relevant times.

Rivian’s stock, like all other EV startups, has been tanking and this has angered the investors who saw a major portion of their investments eroded and a number of law firms like Bernstein Liebhard LLP announced this week that it has filed a securities class action lawsuit on investors’ behalf.

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The lawsuit stated that the EV manufacturer had violated the Securities Exchange Act of 1934 and has asked investors who had bought shares of Rivian Automotive, Inc. between March 1, 2023, and February 21, 2024, to join its suit.

The company’s stocks have fallen and one of the primary reasons was the high interest rates. Rivian’s products are beyond the reach of an average income household.

Also Read: Prime Hydration Faces Lawsuits Claiming Its Sports Drink, Prime Energy, Contains PFAS and Excessive Caffeine

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The Rivian’s Electric vehicles target customers were wealthier clients and the spurt in order cancellations means this class is walking away from Rivian’s product.

The stocks of the company were popular for the investors but the reduced demands caused by higher borrowing cost have hit its stock prices badly.

The price war has also affected the EV sector and the company also with its competitors like Tesla has been uniformly affected.

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The EV sector marked value has tanked by more than 57% year-to-date.

The chance of a fall in interest rates is not expected since the Federal Reserve will not lower the benchmark interest rate since it could lead to a bout of hyperinflation.

Also another factor which will discourage the Federal Reserve to lower interest rates is the soaring energy prices caused by the war in Ukraine and the Middle East.

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Also Read: Lawsuit Claims Kennywood Concealed Steel Curtain Closure to Boost Sales

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Lawsuit Claims Kennywood Concealed Steel Curtain Closure to Boost Sales

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Lawsuit Claims Kennywood Concealed Steel Curtain Closure to Boost Sales

Kennywood’s Steel Curtain roller coaster will not be available this 2024 season, and this has miffed a Kensington man to the extent that he has filed a lawsuit against Kennywood and its parent companies, alleging that the officials had known this fact long before but withheld it to boost season pass sales.

Lawsuit Against Kennywood

The lawsuit, filed in the Allegheny County Common Pleas Court by Joshua Miller and his attorney, John A. Biedrzycki III on Monday, alleges that it was a deliberate attempt to hide the fact to accrue financial benefits by boosting season pass sales.

The lawsuit alleges that Kennywood has created advertising campaigns targeting consumers like Mr. Miller and others to purchase the 2024 season pass under the belief that the benefits included myriad park attractions, including the Steel Curtain.

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In the lawsuit, it was revealed that Mr. Miller bought his season pass under the assumption that all rides would be operational.

However, on April 17, three days before the park opened for the season, it was revealed that Steel Curtain would be closed for the season.

The announcement was made by Ricky Spicuzza, the park’s assistant general manager, and the reason for the closure was cited as the coaster undergoing an “extensive modification project.”

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Ricky Spicuzza said,

“We understand the frustration many of you have felt not being able to experience the Steel Curtain. On behalf of our entire team, we absolutely share that frustration with you.”

However, the lawsuit contends that the fact was known long before last week that the 220-foot-tall coaster would be out of commission.

The lawsuit states,

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“The company withheld this information from season pass purchasers so as not to lose season pass customers, or, alternatively, so as not to offer a discount on season passes due to the unavailability of the Steel Curtain.”

The lawsuit also details numerous violations of the state’s unfair trade practices and consumer protection law. This includes failure to disclose the Steel Curtain’s closure with the full knowledge that the consumer believed that it would be functional for the 2024 season.

The park offered varied passes, which ranged from season passes priced from $109.99 to $239.99.

The lowest endowed pass was the bronze pass, which provided unfettered admission except on certain blackout dates.

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The premium range included the platinum pass, which offered year-round admission to Kennywood, Sandcastle, Idlewild, and Palace Entertainment’s Dutch Wonderland in Lancaster.

Additionally, it also offered free parking, discounts on food and retail, and three free guest tickets.

Also Read: Prime Hydration Faces Lawsuits Claiming Its Sports Drink, Prime Energy, Contains PFAS and Excessive Caffeine

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Prime Hydration Faces Lawsuits Claiming Its Sports Drink, Prime Energy, Contains PFAS and Excessive Caffeine

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Prime Hydration

Prime Energy, the sports drink from Prime Hydration, has been hit by a number of lawsuits for containing excessive amounts of caffeine and PFAS. Another lawsuit was filed on April 8 in the Southern District of New York, accusing Prime Hydration, the parent company which manufactures the sports drink, of engaging in misleading and deceptive practices.

Prime Hydration was founded by two Logan Paul and KSI in 2022, and the products became very popular thanks to the huge followings of the YouTubers. However, the company is now facing a slew of lawsuits over the ingredients in their energy and sports drinks.

New Lawsuit Against Prime Hydration

The latest lawsuit, filed on April 8, accuses the company’s 12-ounce energy drinks of containing 215-225 milligrams of caffeine, exceeding the permissible limit of 200 milligrams. The lawsuit was filed by Lara Vera, a resident of Poughkeepsie, New York.

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The lawsuit details that the plaintiff had purchased Prime’s Blue Raspberry products on numerous occasions in August 2022 for about $3 to $4 each, unaware that the products contained caffeine beyond the permissible limits. The plaintiff is seeking damages of $5 million from the company. Lara Vera’s lawsuit alleges that Prime advertised 200 milligrams of caffeine, which is equal to six Coke cans or two 12-ounce Red Bulls. One Red Bull can could contain 114 milligrams of caffeine.

Also Read: Johnson Controls subsidiary Tyco Fire Products to pay $750 mn to settle ‘forever chemicals’ lawsuit

The suit also alleges that there are no safe limits of caffeine for children and that caffeine has been indicted for causing tachycardia, headaches, convulsions, tremors, upset digestion, and adversely affecting mental health.

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Earlier, Senator Charles Schumer, D-N.Y., had asked the Food and Drug Administration (FDA) to investigate Prime energy drinks in 2023 after reports that the products contained high levels of caffeine. The Senator also accused the company of using vague marketing tactics focused on young people, influencing parents to buy the caffeine-laced drinks for their kids. The lawsuit by Vera also quotes the Senator’s call to the FDA.

Prime is also facing another lawsuit filed on Aug. 2, 2023, in the Northern District of California by the Milberg law firm on behalf of Elizabeth Castillo and others. The lawsuit charges Prime’s products with using flavors containing PFAS, or “forever chemicals.” Forever chemicals are a class of chemicals that are not degraded in the human body or nature and have been indicted as a carcinogenic substance. Independent third-party testing has confirmed that Prime Hydration grape flavor contained PFAS.

Also Read: California mother files lawsuit against Tesla after her 2-year-old child starts Model X and runs over her

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