Facebook commits $100 million to support news media hurt by virus crisis

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FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Facebook Inc (FB.O) on Monday pledged $100 million in financing and advertising spending to support news organizations, including local publishers in the United States, reeling from pressure due to the coronavirus pandemic.

News publishers, especially print media, have taken the brunt as many advertisers pulled their marketing budgets to rein in costs because of virus-related uncertainty.

Vatican’s 160-year-old newspaper L’Osservatore Romano, which suspended printing last week, was the latest in line of a number of print

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New US cases outpace world, J&J eyes human vaccine testing

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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 732,153
  • Global deaths: At least 34,686
  • US cases: At least 143,055
  • US deaths: At least 2,513

The data above was compiled by Johns Hopkins University.

8:32 am: Dr. Birx predicts up to 200,000 US coronavirus deaths

The White House coronavirus response coordinator said that she is “very worried about every city in the United States” and projects 100,000 to 200,000 American deaths as

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J&J, Sanofi, Regeneron, La-Z-Boy, Apple & more

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Take a look at some of the biggest movers in the premarket:

Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.

Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the

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Johnson & Johnson to begin clinical trials on coronavirus vaccine candidate

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Johnson & Johnson said Monday human testing of its experimental vaccine for the coronavirus would begin by September and that it could be available for emergency use authorization in early 2021.

J&J also said it has committed more than $1 billion of investment along with U.S. agency Biomedical Advanced Research and Development Authority, which is part of the Department of Health and Human Services, to co-fund vaccine research.

J&J’s lead vaccine candidate will enter a phase 1 human clinical study by September 2020, the company said, and clinical data on its effects is expected before the end of the year.

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