Spain’s case tally surpasses Italy’s, Cannes Lion ad festival canceled

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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 breaks. 

  • Global cases: More than 1,026,900
  • Global deaths: At least 53,975
  • US cases: At least 245,500
  • US deaths: At least 6,058

The data above was compiled by Johns Hopkins University.

9:00 am: ‘The Hot Zone’ author warns the next pandemic could ‘balloon faster’ than the coronavirus 

The world will experience another pandemic, and it could be even more severe than the new coronavirus, author Richard Preston told

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Renault and Nissan rule out merger as they unveil survival plan

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PARIS/TOKYO (Reuters) – Renault (RENA.PA), Nissan Motor Co (7201.T) and Mitsubishi Motors Corp (7211.T) ruled out a merger on Wednesday and instead said they would cooperate more closely on vehicle development to slash costs and salvage their troubled alliance.

The three carmakers are reeling from the coronavirus pandemic which engulfed them just as they were trying to rework their partnership following the arrest in 2018 and subsequent ousting of its chairman and chief architect, Carlos Ghosn.

Ghosn’s push for Nissan to merge with Renault soured relations between the French and Japanese carmakers and the

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Daily coronavirus cases in the U.S. fall below 50,000 for seven straight days

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Shannon Axelsson takes a break from sitting on the beach to be tested for the coronavirus disease (COVID-19) in Revere, Massachusetts, August 11, 2020.

Brian Snyder | Reuters

New coronavirus cases in the U.S. grew by nearly 48,700 on Friday, marking seven consecutive days the daily count fell below 50,000 as the nation gradually descends from a summer of outbreaks. 

The coronavirus has infected more than 5.6 million people in the U.S. as of Saturday, roughly a quarter of the globe’s reported cases, according to Johns Hopkins University data. The U.S. recorded at least 1,100 deaths Friday, bringing its death

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Singapore’s Senior Minister Tharman on rising global debt amid Covid

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Tharman Shanmugaratnam, Singapore’s deputy prime minister, speaks at a panel discussion during the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington, D.C., U.S., on Wednesday, April 18, 2018.

Andrew Harrer | Bloomberg | Getty Images

One of the biggest challenges that governments will face in the next decade is bringing down debt, a senior minister in Singapore said on Monday.

Governments around the world have increased spending to support their economies hit hard by the coronavirus pandemic. Some have to borrow more to do so — which is a “sensible economic strategy” when confronted with

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