Kudlow says more PPP loans may be needed

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern Time. This blog will be updated throughout the day as the news comes out.

The states of the USA USA They are reopening after some coronavirus blocks aimed at slowing the spread of the virus are eased despite the country seeing its deadliest day on record, according to data compiled on Friday by the World Health Organization. Warren Buffett revealed at Berkshire Hathaway’s first annual virtual meeting on Saturday that he sold all of his airline stock and saw no value in any major acquisitions amid a coronavirus pullback in the stock.

• Global cases: more than 3.4 million
• Global deaths: at least 244,229
• Cases in the United States: more than 1.1 million
• Deaths in the United States: at least 66,385

The above data was compiled by Johns Hopkins University.

The remdesivir drug from Gilead Sciences will be in the hands of coronavirus patients as soon as this week, the CEO of the biotech company said Sunday.

“We have donated all of the supply that we have within our supply chain and we did so because we acknowledge and acknowledge human suffering, human need here, and we want to make sure that nothing stands in the way of this reaching patients.” Gilead Science CEO Daniel O’Day told CBS “Face of the Nation”.

Preliminary results from Gilead’s own study showed that at least 50% of coronavirus patients treated with a five-day remdesivir dose improved. The Food and Drug Administration (FDA) on Friday granted emergency use authorization to remdesivir to treat Covid-19, the disease caused by the coronavirus. Melodie Warner

Online schools generally serve older students who are balancing work and family responsibilities. Now these schools appeal to a broader audience, including recent high school graduates who would have gone to a traditional four-year institution before the pandemic.

Online universities have made great strides in their remote learning offerings over the past decade, while other schools are now struggling to catch up. Online schools have additional benefits, such as price, as well as shorter sessions, which allow students to start earlier and finish faster. Melodie Warner

The director of the National Economic Council, Larry Kudlow, said that the White House has not made any decision on providing more funds for the emergency loan program for small businesses affected by the coronavirus pandemic.

When asked by CNN’s Jake Tapper about “State of the Union” if a third round of funding is needed, Kudlow said “it may be,” but did not commit to providing further assistance for PPP or funding for state and local governments.

The initial $ 349 billion for the Paycheck Protection Program in the $ 2.2 billion stimulus package approved in March was exhausted in a matter of days. The second round of the program, launched last Monday, has so far made more than $ 175 billion worth of loans out of the $ 310 billion total that Congress authorized in the latest aid package. Melodie Warner

More than 80 million American households still have cable or satellite television and have been paying for live televised sports that they have not received for nearly two months. About $ 20 of a standard monthly cable bill can be attributed to sports payments, and New York Attorney General Letitia James argued this week that Americans shouldn’t be forced to pay that money.

Cable executives may be willing to give rebates to customers, but only if programmers who pay for sports give they Refunds If sports seasons are canceled entirely, leagues may reimburse programmers for television fees. In that case, programmers would likely reimburse distributors, and those distributors would credit consumers. Melodie Warner

Covid-19-related hospitalizations have begun to slow down in some cities, however, the virus could take weeks to peak. Rural communities across the United States, health officials warn. The virus also has the potential to be more deadly in many rural communities where a large part of the population is older and has underlying health conditions such as obesity and diabetes that could put them at risk of serious illness or death.

It took less than three weeks for Hall County to become the largest focus of Covid-19 cases in Nebraska. The area reported its first coronavirus case in late March, just as the outbreak was on the rise, and now has more than 1,000 Covid-19 cases as of Friday. Melodie Warner

Vietnam reported its first confirmed case of coronavirus in nine days on Sunday, bringing its reported positive cases to 271, its health ministry said. Vietnam is said to have implemented strict quarantine and contact tracing measures since the start of the pandemic, quarantining cities with suspected cases since February, using the help of military and public surveillance. The country has reported no deaths from coronavirus.

Swiss drug maker Roche said Sunday it expects to be able to produce “significantly more” than 100 million of its new antibody tests monthly by the end of 2020, doubling its current production.

Roche received an emergency use authorization Sunday from the US Food and Drug Administration. USA To pass their test, which is based on taking intravenous blood samples to identify if someone has been previously infected with the coronavirus and if they have the antibodies to defend against it.

Roche said its Elecsys Anti-SARS-CoV-2 antibody test has a specificity of greater than 99.8%, which means very few false-positive tests, and that it can help assess people’s immune response to the virus. The company said it has already started sending the new antibody test to the best laboratories worldwide.