Hertz granted approval to sell up to $1 billion in shares

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Signage for Hertz Global Holdings Inc. stands at a rental location in Berkeley, California, U.S., on Tuesday, May 5, 2020.

David Paul Morris | Bloomberg | Getty Images

Hertz was granted approval Friday by the U.S. Bankruptcy Court for the District of Delaware to sell up to $1 billion in stock.

The potential sale is highly unusual for a company going through Chapter 11 bankruptcy proceedings since common shareholders, who are last in line when assets are allocated during court proceedings, may be left with worthless stock.

Hertz said it is a last ditch effort for the company to cash

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On Main Street, a push for protection from coronavirus-related lawsuits

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At Chris Purcell’s Firehouse Subs location in Elizabeth City, North Carolina, things aren’t quite business as usual.

After suffering sales drops of as much as 60% during the height of the coronavirus pandemic, customers are starting to return. Now it’s all about making them comfortable and keeping employees and patrons alike safe in his store, which means going above and beyond guidelines for operating in the new normal.

Workers are wearing masks and gloves, and washing hands every 15 minutes. Purcell has plexiglass up between the point-of-sale and customers, barriers between customers and employees and he’s operating at less than

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KKR co-CEO Henry Kravis says 80% of the companies it controls have at least two directors with diverse backgrounds

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Private equity firm KKR’s co-chief executive officer and co-founder Henry Kravis said 80% of companies that it controls now have at least two board directors with diverse backgrounds.

The firm set out to reach that threshold a few years ago and accomplished in the first quarter of 2020, Kravis said to CNBC’s Seema Mody on “The Exchange.”

“It has to start at the top. If it’s not a priority for a CEO, it’s not going to happen in my view,” Kravis said. “At KKR … it’s been a priority for a while. We want diversity of gender, ethnicity and thought,

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‘We didn’t really know’ where hot spots were

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Dr. Scott Gottlieb on Friday defended the widespread initial lockdown measures put in place by state and local governments to help limit coronavirus spread, arguing public health officials did not have enough information to implement narrow shutdowns. 

“Could we have targeted the shutdown better to the hot spots? The problem was, we didn’t really know where the hot spots were when we were going through this during the first wave,” Gottlieb said on CNBC’s “Squawk Box.” “We had no testing, and so we didn’t know where this was going to evolve to.” 

Gottlieb’s comments come as some states across the

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