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Coronavirus live updates: New flu strain found in China; WHO warns ‘the worst is yet to come’

New pressure of flu present in China has potential to grow to be a pandemic, scientists warn

09:30 a.m. London time: Scientists have identified a new strain of flu carried by pigs in China that they say has the potential to become a pandemic.

The new pressure is descended from the kind of flu that emerged in 2009, referred to as “swine flu,” that brought on the primary world flu pandemic in 40 years.

The scientists, from a number of Chinese universities and the China’s Center for Disease Control and Prevention, mentioned the brand new pressure of flu, which they referred to as “G4 EA H1N1,” is a variation of swine flu, and consists of the “G4″ genotype that has grow to be predominant in swine populations since 2016.

As with swine flu, the brand new pressure has been recognized as having “all of the important hallmarks of a candidate pandemic virus,” they warned.

The peer-reviewed findings have been printed in U.S. journal Proceedings of the National Academy of Sciences on Monday. — Holly Ellyatt

New Zealand to steer digital APEC summit involving U.S, Asian leaders in 2021

1:50 p.m. Singapore time — New Zealand has canceled plans to host the Asia-Pacific Economic Cooperation summit scheduled for subsequent yr due to the coronavirus pandemic — and can as a substitute lead a digital discussion board, reported Reuters.

The APEC summit features a collection of conferences that culminate in a so-called leaders’ week on the finish of the yr. Next yr’s leaders’ week was alleged to be held in Auckland in November 2021. APEC, which focuses on commerce points, has 21 members together with the U.S., China, Japan and Mexico. 

Reuters reported Prime Minister Jacinda Ardern attributing the choice to journey uncertainties because of the pandemic. Many nations, together with New Zealand, have closed borders to forestall imported infections. Ardern mentioned the nation has no plans to reopen its borders but, in accordance with Reuters. 

The pandemic has additionally compelled this yr’s host, Malaysia, to postpone some conferences. —Yen Nee Lee

Manufacturing exercise in China expands as home financial system recovers

10:11 a.m. Singapore time — China’s factory activity expanded in June, with each provide and demand for items beginning to choose up because the world’s second-largest financial system recovers.

The nation mentioned its official manufacturing Purchasing Managers’ Index got here in at 50.9 in June — higher than the 50.Four forecast by economists in a Reuters ballot. Last month, the index was 50.6, mentioned the National Bureau of Statistics.

A studying above 50 signifies growth, whereas under sign contraction.

Large-scale lockdowns in China and globally to include the unfold of the coronavirus have hit Chinese manufacturing exercise. As economies reopen, specialists have warned {that a} resurgence in circumstances might power authorities to reinstate some lockdown measures — which has occurred in sure components of China.

The National Health Commission of China on Tuesday reported 19 new coronavirus circumstances within the mainland. Out of the eight domestically transmitted circumstances, seven have been in Beijing, mentioned NHC. The capital metropolis has recently reported an uptick in infections, which led authorities to extend restrictions. —Huileng Tan, Yen Nee Lee

England’s Leicester ordered to return to stricter lockdown

5:08 p.m. ET — Leicester, England, has been ordered to re-institute some lockdown measures as a result of its coronavirus an infection price is considerably larger than anyplace else within the nation, in accordance with a report from Reuters.

While the remainder of the U.Ok. plans to ease extra social-distancing measures on July 4, Leicester might be closing colleges and nonessential retailers. People have been warned to not journey to, from or inside the metropolis.

Leicester accounted for about 10% of all constructive circumstances within the nation over the previous week. —Hannah Miller

U.S. has an excessive amount of unfold to include the outbreak, CDC official says

5:02 p.m. ET — The U.S. is reporting too many new infections every day for the country to wrestle its outbreak under control, in accordance with Dr. Anne Schuchat, principal deputy director of the Centers for Disease Control and Prevention.

While many different nations in Europe and Asia have managed to convey their ranges of day by day an infection down to a degree at which well being officers can nook off and include pockets of the virus, Schuchat mentioned the U.S. just isn’t at that time.

“We’re not within the state of affairs of New Zealand or Singapore or Korea the place a brand new case is quickly recognized and all of the contacts are traced and individuals are remoted who’re sick and people who find themselves uncovered are quarantined and so they can maintain issues beneath management,” she said in an interview with The Journal of the American Medical Association’s Dr. Howard Bauchner. “We have approach an excessive amount of virus throughout the nation for that proper now, so it’s totally discouraging.” —Will Feuer

Fed chief Powell cautions on ‘terribly unsure’ outlook

4:52 p.m. ET — Federal Reserve Chairman Jerome Powell is delivering one other warning in regards to the financial system amid the coronavirus pandemic, saying the highway forward is “terribly unsure.” In remarks he will deliver Tuesday before a House panel, Powell stresses the significance of containing the coronavirus.

“A full restoration is unlikely till individuals are assured that it’s protected to reengage in a broad vary of actions,” he added. “The path ahead may also rely upon the coverage actions taken in any respect ranges of presidency to offer reduction and to assist the restoration for so long as wanted.” –Jeff Cox

2021 Geneva auto present canceled

image alliance | image alliance | Getty Images

4:42 p.m. ET — Organizers of the Geneva International Motor Show have canceled next year’s event due to the coronavirus pandemic, citing an absence of curiosity from exhibitors.

The 2021 Geneva auto present was anticipated to happen in March. The well-in-advance cancellation raises questions of whether or not different auto exhibits, such because the Los Angeles auto present – scheduled for November – will go on as scheduled. Organizers for the California present didn’t instantly reply for remark.

The choice comes after officers have been forced to cancel this year’s auto show in February, days earlier than it was set to open. It was the primary present to take action because of the coronavirus pandemic. —Michael Wayland

MLB bans spitting in Covid-19 shortened season

4:09 p.m. ET — Major League Baseball introduced highlights of its health and safety protocols, together with prohibiting gamers from spitting throughout video games.

The MLB mentioned gamers and group employees will undergo “medical testing and screening processes” earlier than returning to full exercises on Friday. The league mentioned Opening Day will begin on July 23 and July 24.

After failing to succeed in an settlement on video games and pay construction, the MLB and its gamers’ union settled on a 60-game season that may include “taking part in 40 divisional video games and 20 Interleague video games.” —Jabari Young

New Jersey delays resuming indoor eating at eating places

3:39 p.m. ET — New Jersey Gov. Phil Murphy mentioned that the state’s restaurants won’t be allowed to resume indoor dining on Thursday as originally planned as a consequence of a rising variety of coronavirus circumstances in different states. He mentioned that beneath the revised plan, indoor eating might be allowed to renew at a later date that has but to be decided.

New Jersey allowed out of doors eating at eating places and restricted indoor retail to renew on June 15. Murphy famous that some New Jersey residents and institutions have not been adhering to really helpful social distancing pointers or utilizing face coverings.

The state remains to be making ready to reopen its out of doors amusement facilities, indoor leisure amenities, museums and libraries on Thursday, Murphy mentioned. —Noah Higgins-Dunn

AMC Theatres delays phased reopening to July 30

2:42 p.m. ET — AMC has pushed back the reopening of its movie theaters after Warner Bros. and Disney shifted the discharge dates for “Tenet” and “Mulan” to August.

The largest film chain within the U.S. had initially deliberate to open in mid-July, in time for “Tenet’s” preliminary launch date. AMC will now start its phased reopening on July 30.

When AMC does reopen it would function at a restricted capability, block off seating to take care of security, and require patrons to put on masks. —Sarah Whitten

More states reverse or gradual reopening plans as circumstances climb

A employee drills plywood boards over home windows and doorways of a bar in Austin, Texas, June 26, 2020.

Sergio Flores | Getty Images

2:35 p.m. ET — New Covid-19 circumstances were up by at least 5%, on a weekly basis, in 37 states across the country as of Sunday, based mostly on a seven-day transferring common, in accordance with a CNBC evaluation of Johns Hopkins University information.

The current spike in circumstances have brought on some governors to stroll again or delay a few of their reopening plans, together with in states like California, Washington, Florida and Texas. California Gov. Gavin Newsom ordered bars to shut in a handful of counties on Sunday, following related actions taken by Texas and Florida late final week. Washington Gov. Jay Inslee on Saturday postponed eight counties from transferring into the state’s subsequent section of reopening.

Public well being officers are additionally intently watching hospitalizations, which might point out how extreme an outbreak is in an space. Hospitalizations from Covid-19 have been rising in 20 states as of Sunday, in accordance with a CNBC evaluation of information compiled by the Covid Tracking Project, an unbiased volunteer group launched by journalists at The Atlantic. —Noah Higgins-Dunn

New York malls cannot open with out air-con programs that filter the coronavirus

2:20 p.m. ET — New York Gov. Andrew Cuomo mentioned that giant malls within the state will not be allowed to reopen until they’ve installed high-quality air systems that can filter out the coronavirus.

High-efficiency particle air filters, or HEPA filters, have been proven to assist cut back the presence of Covid-19 within the air, in accordance with a presentation from Cuomo.

The CDC says the coronavirus is assumed to unfold primarily by means of person-to-person contact, when an contaminated particular person produces respiratory droplets by coughing, sneezing or speaking close to others.

HEPA filters are designed to filter particles which might be .01 micron and above and recent studies have discovered the coronavirus’ particle has a diameter of about .125 micron, he mentioned.

So far, New York has not allowed malls to reopen within the state however has allowed indoor retail to renew at diminished capability. Other companies haven’t been required to put in high-end filtration programs, though the governor mentioned that the state is encouraging all companies and places of work to “discover the potential for his or her air-con air filtration system.” —Noah Higgins-Dunn

WHO warns ‘the worst is but to come back’

A affected person is wheeled into Houston Methodist Hospital as storm clouds collect over the Texas Medical Center, amid the worldwide outbreak of the coronavirus illness (COVID-19), in Houston, Texas, U.S., June 22, 2020.

Callaghan O’Hare | Reuters

1:50 p.m. ET — The coronavirus pandemic remains to be accelerating and with out extra collaborative world intervention, “the worst is but to come back,” Tedros Adhanom Ghebreyesus, the director-general of the World Health Organization mentioned.

“Although many nations have made some progress, globally, the pandemic is actually speeding up,” he said during a virtual news conference from the agency’s Geneva headquarters. “We all need this to be over. We all need to get on with our lives, however the onerous actuality is that this isn’t even near being over.”

Most new circumstances are coming from nations within the Americas, particularly the U.S. and Brazil, in accordance with information collected by the WHO. Tedros emphasised that some nations have skilled a resurgence after reopening components of their financial system and society.

The finest approach to fight the unfold of the virus is with confirmed methods, together with widespread testing, contact tracing and isolation of contaminated folks, Tedros mentioned. Improved clinician take care of sufferers may also assist to scale back the dying price, he mentioned. —Will Feuer

Lowe’s offers one other spherical of bonuses to employees

A buyer pays for his purchases inside a Lowe’s retailer in Cary, North Carolina.

Jim R. Bounds | Bloomberg | Getty Images

1:29 p.m. ET — Hourly staff at Lowe’s will get one other bonus to thank them for serving clients through the coronavirus pandemic as Covid-19 circumstances rise in lots of states.

The dwelling enchancment retailer mentioned it would pay full-time hourly staff $300 and part-time and seasonal staff $150 in mid-July. It gave staff the identical quantity in bonuses in March and in May, and for the month of April, it raised staff’ hourly pay by $2. Its pandemic-related particular bonuses have totaled about $245 million.

Lowe’s sales have risen during the pandemic, as clients do DIY tasks and repairs whereas they spend extra time at dwelling. Its same-store gross sales grew by greater than 11% within the first quarter, however CEO Marvin Ellison mentioned that may possible degree off within the months forward. –Melissa Repko

Transmission price web site exhibits regarding outcomes for 34 states

1:12 p.m. ET — Instagram co-founder Kevin Systrom, who constructed a web site that tracks the speed of coronavirus infections within the U.S., informed CNBC it’s displaying worrisome indicators. 

Systrom mentioned on “Squawk Box” that 34 states in the U.S. have an estimated rate of coronavirus transmission above 1.0, outlined on his web site as a sign the virus will unfold shortly. A worth much less 1.Zero suggests the unfold will cease.

Two months in the past, Systrom famous, there have been 5 states who had an estimated price of coronavirus transmission above 1. 

“So you’ve an unimaginable rebound,” said Systrom. “People wish to say we’re not in a second wave. I do not know what a second wave [is] if that is not a second wave.” —Kevin Stankiewicz

New York City’s Broadway will stay closed for the remainder of 2020

Shoppers getting again to splurging on themselves, NPD Group says

Shoppers stroll contained in the Westfield Santa Anita mall through the outbreak of the coronavirus illness (COVID-19), in Arcadia, California, June 25, 2020.

Mario Anzuoni | Reuters

10:21 a.m. ET — New information from the patron monitoring agency NPD Group level to buyers within the U.S. getting again to buying gadgets for themselves, not solely requirements, in quest of enjoyment through the coronavirus pandemic.

The classes for youths attire, underwear, sleepwear and shorts have been all up year-over-year in May, in accordance with the agency, and swimwear was rising week-over-week into early June.

“Right now, retail is reflecting the patron’s want for normalcy in a sea of change,” NPD’s chief advisor Marshal Cohen said. “Purchases have gotten much less about making our prolonged time at dwelling extra nice, and extra about discovering methods to get pleasure from ‘getting out’ and as soon as once more expressing your self as a person in public.”

More than two-thirds of shoppers mentioned they’d be snug with purchasing in a retailer as soon as stay-at-home restrictions eased, in accordance with a ballot taken in May by NPD. Malls in New Jersey are reopening Monday. In-store retail in New York can also be lastly again open. —Lauren Thomas

FDA grants emergency clearance to Danaher’s antibodies take a look at

9:54 a.m. ET — Danaher acquired emergency clearance from the U.S. Food and Drug Administration for its antibody take a look at, Reuters reported. The choice follows the tightening of FDA pointers for antibodies assessments, as excessive demand has led to the creation of fraudulent testing kits.

Beckman Coulter, a unit of Danaher, has shipped the take a look at to 400 U.S. hospitals and can make greater than 30 million assessments a month, Reuters reported. Danaher additionally mentioned it has begun distributing assessments in different nations that settle for the FDA’s clearance.

The take a look at has a specificity price of 99.6% and 100% sensitivity, that means the prospect of a false damaging is low. There isn’t any probability of getting a false constructive based mostly on the specificity price. —Alex Harring

Amazon offers front-line employees a $500 coronavirus bonus

A employee masses buyer orders right into a ready tractor-trailer contained in the million-square foot Amazon distribution warehouse that opened final fall in Fall River, MA on Mar. 23, 2017.

John Tlumacki | Boston Globe | Getty Images

9:38 a.m. ET — Amazon is offering full- and part-time employees with a one-time “Thank You” bonus for working through the coronavirus pandemic, the corporate introduced.

Full-time warehouse, supply and Whole Foods employees will obtain a $500 bonus, whereas part-time employees will get a $250 bonus. Flex drivers who ship packages for Amazon will obtain $150 in the event that they labored greater than 10 hours in June. Whole Foods retailer managers will get a $1,000 bonus, and homeowners of Amazon’s third-party supply providers will get a $3,000 bonus.

Dave Clark, Amazon’s senior vice chairman of retail operations, introduced the bonuses in a memo despatched to staff, saying he is “by no means been extra pleased with our groups.” —Annie Palmer

Stocks open larger, shaking off rising coronavirus circumstances

9:35 a.m. ET — U.S. shares opened higher at the same time as U.S. coronavirus circumstances continued to surge, experiences CNBC’s Fred Imbert and Thomas Franck. The Dow Jones Industrial Average rose 200 factors on the opening bell, a achieve of about 0.8%. The S&P 500 added 0.3% whereas the Nasdaq Composite slipped 0.1%. —Melodie Warner

Amazon employees in Germany strike after warehouse outbreaks of Covid-19

8:44 a.m. ET — Amazon warehouse employees have gone on strike in Germany after employees at a number of logistics facilities examined constructive for the coronavirus. The strikes are going down at six of the e-commerce big’s warehouses throughout the nation on Monday and Tuesday.

A current warehouse outbreak contaminated 40 to 50 employees, in accordance with labor union Verdi.

“Amazon has thus far proven no perception and is endangering the well being of staff in favor of company revenue,” mentioned Orhan Akman, who’s answerable for the retail and mail order sectors at Verdi, in an announcement. —Sam Shead

Burger King’s U.S. same-stores are trending flat as fast-food trade recovers

8:32 a.m. ET — Restaurant Brands International mentioned that U.S. same-store gross sales of Burger King are trending flat, the most recent signal that the fast-food trade is recovering from the pandemic.

Even with lots of its North American eating rooms closed or providing solely diminished seating, Burger King is seeing clients come again and order by means of its drive-thru lanes. The burger chain additionally lately launched nationwide a meatless breakfast sandwich made with Impossible Foods’ sausage to jolt its breakfast gross sales.

Burger King’s sister chain Tim Hortons noticed same-store declines within the damaging excessive teenagers as of final week, marking a sequential enchancment from May. Popeyes Louisiana Kitchen noticed its U.S. same-store gross sales rise by the “very excessive 20s.” —Amelia Lucas

Gilead to cost remdesivir at $3,120 for U.S. sufferers with non-public insurance coverage

Vials of investigational coronavirus illness (COVID-19) remedy drug remdesivir are capped at a Gilead Sciences facility in La Verne, California, U.S. March 18, 2020. Picture taken March 18, 2020.

Gilead Sciences Inc | Reuters

7:40 a.m. ET — Gilead Sciences introduced pricing for its coronavirus treatment, remdesivir. It will promote the drug at $390 per vial to governments of developed nations and at $520 per vial for U.S. non-public insurance coverage corporations, including that the pricing is “nicely under” the drug’s worth.

The firm will start charging for the drug in July. It had beforehand been donating doses to the U.S. authorities for distribution because it acquired an emergency use authorization in May to deal with Covid-19 sufferers. 

The majority of sufferers handled with remdesivir will obtain a five-day remedy course utilizing six vials of remdesivir, the corporate mentioned. That would convey the federal government price to $2,340 for sufferers on the five-day remedy and $3,120 for commercially insured sufferers.

“At the extent now we have priced remdesivir and with authorities applications in place, together with further Gilead help as wanted, we imagine all sufferers could have entry,” Gilead CEO Daniel O’Day mentioned in an open letter. —Will Feuer

U.Ok.’s Boris Johnson says a ‘Rooseveltian’ strategy is required to restart financial system

Britain’s Prime Minister Boris Johnson speaks throughout a day by day briefing to replace on the coronavirus illness (COVID-19) outbreak, at 10 Downing Street in London, Britain June 3, 2020.

Andrew Parsons | 10 Downing St | through Reuters

7:30 a.m. ET — British Prime Minister Boris Johnson mentioned Monday that the U.K. needs to take a “Rooseveltian” strategy to rebuilding its financial system following the coronavirus epidemic.

Speaking to Times Radio, Johnson admitted that the virus had been an “absolute nightmare for the nation” but added that “in these moments you’ve the chance to alter and to do issues higher … to put money into infrastructure, transport, broadband, you title it.”

“I believe that is the second for a Rooseveltian strategy to the U.Ok.,” he added, referencing former U.S. President Franklin D. Roosevelt who was elected to the U.S. presidency during the height of the Great Depression. He is renowned for implementing the “New Deal” applications that funded the mass constructing of U.S. public infrastructure within the 1930s. —Holly Ellyatt

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