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The largest theater chain in the world has doubts about its future



Public health professionals are reviving talks about a possible vaccine as mass protests continue in many US cities after the death of George Floyd, who was subjected to the police.

The White House Health Advisor, Dr. Anthony Fauci said Tuesday that he was concerned about the “shelf life” of a potential coronavirus vaccine, adding that there was a possibility that it would not offer long-term immunity. And the former Commissioner of the Food and Drug Administration, Dr. Scott Gottlieb told CNBC on Wednesday that any effective vaccine is likely to be seasonal.

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7;s live blog with the latest news on the Corona virus outbreak. This blog will be updated later in the day once the news is released.

  • Global cases: More than 6.4 million
  • Worldwide deaths: At least 380,764
  • US cases: More than 1.83 million
  • Deaths in the U.S.: At least 106,181

The above data has been compiled by Johns Hopkins University.

Trump bans Chinese airlines from flying to the United States

12:51 p.m. ET – The Trump administration will ban Chinese passenger airlines from scheduled flights to the US this month as a dispute between the governments of the two largest aviation markets escalates.

US airlines discontinued flights to China earlier this year after demand for the corona virus fell. Delta and United have tried to return, but Chinese officials have not yet allowed them to do so. As a retaliatory measure, the U.S. will no longer allow passenger airlines to operate flights between the two countries from June 16.

“Our overarching goal is not to maintain this situation, but to improve the environment in which both parties’ airlines can exercise their bilateral rights fully,” said the U.S. Department of Transportation command. “Should the [Chinese aviation authority] The Department is adapting its policies to bring about the necessary improvement in the situation for US airlines. It is fully prepared to review the measures announced in this order. “

The measure affects Air China, China Eastern, China Southern and Xiamen. The airlines did not respond immediately. – Leslie Josephs

The latest in virus reopening and distribution

Invoice to request refund for all canceled flights that are unlikely to become law

Flight attendants speak in an almost empty cabin on a Delta Airlines flight operated by SkyWest Airlines as travel costs decreased during a flight from Salt Lake City, Utah on April 11, 2020 due to concerns about coronavirus disease (COVID-19) are.

Jim Urquhart | Reuters

Real estate deals in Manhattan are falling amid pandemics and protests

12:37 PM ET – The Manhattan real estate market continues to fight the corona virus and now faces the additional challenge of widespread protests in response to George Floyd’s death in police custody.

According to UrbanDigs, only 160 real estate contracts for Manhattan apartments were signed in May, a 84% decrease from the previous year. According to CNBC’s Robert Frank, new registrations were also down 71% compared to May 2019. The top end of Manhattan real estate, which includes expensive apartment towers and penthouses, is hardest hit. – Hannah Miller

The corona virus crisis could have a lasting impact on the gender pay gap

12 p.m. ET – Even if millions of Americans now work from home, the wage gap between parents persists and could likely worsen due to Covid-19.

According to a new analysis of the census data by the National Women’s Law Center, mothers already receive only 70 cents for every dollar paid to fathers, which is a loss of $ 18,000 a year.

In the future, the gender pay gap could widen as women reduce their childcare work disproportionately, as childcare options are still limited. – –Jessica Dickler

With soup sales increasing due to the pandemic, Campbell Soup expects demand to continue to grow

12 p.m. ET – After selling the legendary Campbell Soup broths and increasing 35% in the third quarter of the fiscal year, the company expects demand to continue to grow, even as the weather warms and states reopen.

Mark Clouse, Campbell’s CEO, told Squawk on the Street that retailers need to replenish their inventory, which will increase demand even if consumers buy fewer of these products.

Still, Clouse said he expects consumers to continue eating more soup and other Campbell products than the historical comparison. The pandemic reversed consumer preference for fresher food options and revived sales for categories that had been declining in recent years.

The company’s shares fell nearly 5% in morning trading, although the 2020 outlook was raised and analysts’ earnings estimates exceeded. – –Amelia Lucas

Reopening and protests could lead to a bad fall season

A doctor holds up a mask that says “Black Lives Matter” during a rally against George Floyd’s murder in Foley Square on May 29, 2020 in New York City. Demonstrations take place in the United States after George Floyd died in police custody on May 25.

Kevin Mazur | Getty Images

11:25 AM ET – With nationwide protests against George Floyd’s death and easing of restrictions across the country, public health specialists are warning that Covid-19 is getting back on its feet later this year.

Some other countries affected by the virus, such as Germany and Italy, have reduced the number of new infections every day to just hundreds per day. The United States has sought to do the same with more than 20,000 newly diagnosed cases every day.

If this number does not decrease, the country could again have a hard time breaking out in the fall, public health professionals who spoke to CNBC said, adding that the protests would likely spread the virus.

“It’s heartbreaking at a number of levels, certainly due to infectious diseases and epidemiology,” said Dr. Katie Passaretti. “They have large groups that come together and people from faraway places that come together. It’s a risk of Covid’s spread.” – –Want fire

The Mayor of NYC says the curfew will end when the first phase of the coronavirus reopening plan begins

Mayor Bill de Blasio speaks to the media after he and First Lady Chirlane McCray donated blood during the COVID-19 pandemic at New York Blood Center on 67th Street.

Lev Radin | Pacific Press | Getty Images

11:15 p.m. ET – New York City Mayor Bill de Blasio said a 8:00 p.m. The curfew that was imposed during the heated protests against George Floyd’s death is scheduled to be lifted Monday morning when the city begins the first phase of its corona virus reopening plan initiates.

“We will end it immediately … The curfew comes at 5am Monday morning,” said de Blasio at a press conference on Wednesday. “I want us to never have to use it again if we can do things right, and then we go straight to the reopening.”

The first phase of the plan to lift restrictions on social distance includes construction, manufacturing, wholesale, and retail businesses that can provide roadside pick-up services.

“The New Yorkers are resourceful. I am very confident that people are ready,” said the mayor. He apologized to all companies dealing with the “additional challenge” of repairing their businesses after the violence and property destruction that took place during the protests last week. – –Kevin Breuninger

AMC has “significant doubts” that it will be able to stay in business after all locations are closed during the pandemic

In front of the AMC Montebello there are signs saying “Theater closed” as the US chain of AMC cinemas is closed for 6 to 12 weeks. On March 17, 2020 in Montebello, California, the Coronavirus epidemic (Covid-19) led to restaurant and school closings and workers working from home to promote social detachment.

Frederic J. Brown | AFP | Getty Images

11:10 AM ET – AMC, the largest cinema chain in the world, raised concerns about its liquidity and ability to generate income after the coronavirus outbreak.

AMC announced preliminary earnings results after losing $ 2.1 billion to $ 2.4 billion in the first quarter ended March 31, while the theaters were closed due to social distance regulations. Losses are expected to increase even more in the second quarter.

“We are effectively not generating any revenue,” the company said in its filing.

AMC also said it was concerned that distributors would continue to push back new film releases, either due to corona virus restrictions at public gatherings or due to production delays, and that some studios would offer more films on-demand or through streaming. – –Sarah Whitten

The PMI for US services is better than expected

10:26 am ET – The Supply Management Institute (ISM) announced that its manufacturing index rose from 41.8 in April to 45.4 in the past month. Economists surveyed by Dow Jones expected 44.4 in May. The April number was the first decline in the US services sector since December 2009, when the coronavirus pandemic rocked the economy. – –Yun Li

Dow jumps 200 points outdoors and climbs up for a third day

9:40 a.m. ET – Shares rose, and the Dow Jones Industrial Average rose 230 points, a third consecutive day, despite uncertainty over the days of the demonstrations, against George Floyd’s murder and the ongoing corona virus Protesting crisis. The S&P 500 rose 0.7%, the Nasdaq Composite 0.4%. The Nasdaq 100 index rebounded strongly from its low in March and was now less than 1% from its record high. – –Yun Li

According to the CEO, J&J is investigating the effects of viruses on black communities

9:26 am ET – Johnson & Johnson CEO Alex Gorsky said the company is investigating the coronavirus’ disproportionate effects on black communities.

“What is the underlying nature? What can we do better to ensure that your zip code no longer contributes to your life expectancy, frankly, to other health issues,” he told CNBC.

J&J has been working on a potential Covid-19 vaccine that infected over 1.83 million people in the United States, according to Johns Hopkins University. The company believes that its experimental human vaccine will begin testing in September and may be available for emergency approval in early 2021. –Berkeley Lovelace, Jr.

New cases in Africa continue to increase

The vaccine will be “seasonal,” says Dr. Scott Gottlieb

7:32 am ET – Any coronavirus vaccine that is found to be safe and effective will likely only offer immunity for a limited time, possibly “up to a year,” said former Food and Drug Administration commissioner Dr. Scott Gottlieb.

His comments come after the White House health advisor, Dr. Anthony Fauci, on Tuesday, said he was concerned about the “shelf life” of a potential coronavirus vaccine and said there was a possibility that he would not offer long-term immunity.

“This will likely be a seasonal vaccine,” said Gottlieb in an interview with CNBC’s Squawk Box. “It’s probably a vaccine that we have to take every year. Dr. Fauci is right, the long-term immunity won’t be in the form of a smallpox or polio vaccine, once you get the vaccine and you’re for the rest of yours Life or protected most of your life. “

Finally, people could be asked to take the coronavirus vaccine along with the flu vaccine annually, Gottlieb said. – Want fire

Disclosure: Scott Gottlieb is a CNBC employee and a member of the boards of Pfizer and the biotech company Illumina.

Sweden “could have done better” to fight the outbreak, the chief epidemiologist admits

People enjoy themselves in an outdoor restaurant on April 20, 2020 amid the outbreak of Coronavirus disease (COVID-19) in central Stockholm, Sweden.

DIFFERENT WIKLUND

7:02 AM ET – Sweden’s chief epidemiologist, who advocated a no-lockdown strategy to combat the coronavirus crisis, admitted that more would have to be done to combat the epidemic.

“Yes, I think we could have done better than in Sweden,” said Anders Tegnell, state epidemiologist at the Swedish Health Service, according to a Reuters report to Swedish radio.

“If we encountered the same disease and knew exactly what we know about it today, we would probably do something between what Sweden did and what the rest of the world did,” he said.

Unlike most of Europe, Sweden opted to completely block businesses and schools when the corona virus spread across Europe in March, and instead opted for softer, largely voluntary measures. – –Holly Ellyatt

Spain’s eyes open again for tourism June 22nd

Participants run in front of Fuente Ymbro’s bulls during the fourth “Encierro” (bull run) of the San Fermin Festival in Pamplona, ​​northern Spain, on July 10, 2015.

Miguel Riopa | AFP | Getty Images


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