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Ex-FDA chief still sees ‘pervasive spread’ in US

Health experts and asset markets are watching closely as segments of the U.S. reopen their economies. Global cases near the 3 million mark, with roughly a third of those cases in the U.S. Across the Atlantic, U.K. Prime Minister Boris Johnson is back at work on Monday after recovering from the virus, delivering a sober address about the nation’s progress in fighting the Covid-19 outbreak. 

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 2.98 million
  • Global deaths: At least 206,811
  • US cases: More than 965,900
  • US deaths: At least 54,877

The data above was compiled by Johns Hopkins University.

8:23 am: The latest on US hot spots

8:22 am: General Motors suspends dividend, stock buybacks to preserve cash

General Motors said it is suspending its quarterly dividend and stock buybacks to preserve cash during the coronavirus pandemic.

The automaker said it also extended a $3.6 billion, three-year revolving credit facility to April 2022 to help bolster its liquidity. GM said it’s “taken other significant austerity measures to preserve near-term available cash.”

GM’s U.S. plants have been shuttered since mid-March due to Covid-19. —Michael Wayland

8:11 am: Regeneron, Sanofi shut down part of arthritis drug study after trial shows benefit for only sickest patients

A rheumatoid arthritis drug made by Regeneron and Sanofi showed promise for treating the sickest coronavirus patients in a clinical trial but was not beneficial for patients with less-advanced disease, prompting the companies to stop testing the medicine in that group.

The drug, Kevzara, inhibits a pathway thought to contribute to the lung inflammation in patients with the most severe forms of Covid-19.

Regeneron and Sanofi started clinical trials of the medicine in Covid-19 patients in March after a small study from China suggested a benefit from a Roche drug, Actemra, inhibiting the same pathway, known as IL-6. —Meg Tirrell

7:21 am: CDC expands the official list of symptoms

The Centers for Disease Control and Prevention has added six new symptoms of Covid-19 to its website as scientists gather more data on the coronavirus and patients show “a wide range of symptoms,” the agency said Friday. 

The previous list of symptoms included fever, cough and shortness of breath or difficulty breathing. The CDC now says chills, repeated shaking with chills, muscle pain, headache, sore throat and a sudden loss of taste or smell are also common indicators of the coronavirus. —Jasmine Kim

7:02 am: Former FDA chief says there’s still ‘pervasive spread’ in the US

Even as states weigh lifting social distancing restrictions, there is still pervasive spread of the virus throughout the country, former Food and Drug Administration Commissioner Scott Gottlieb told CNBC.

“The reality is there is still pervasive spread of coronavirus across the entire nation,” he said on CNBC’s “Squawk Box.” “There’s parts of the country, there’s states where they never really had a significant outbreak that they certainly meet the criteria to start reopening aspects of the economy.”

About five states meet the White House criteria for the necessary level of “sustained reduction” of new cases before restrictions can be lifted, Gottlieb said. He did not say what those five states are, but he added the U.S. is reporting roughly 30,000 new cases every day and 2,000 new deaths. —Will Feuer

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

6:56 am: Adidas projects 40{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} decline in sales for the second quarter

Adidas has predicted that sales will fall by 40{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in the second quarter, as the impact of the coronavirus takes hold.

The German sportswear giant on Monday reported a 19{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} decline in net sales for the first quarter from the year before to 4.75 billion euros ($5.16 billion), as 70{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} of its stores worldwide closed as a result of the Covid-19 pandemic.

Its first-quarter net income was 26 million euros, down 96{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} from the same period last year, and Adidas said that owing to uncertainty over the duration of store closures, it would be unable to offer a full-year outlook at present. —Elliot Smith 

6:44 pm: VW restarts production at its largest car factory in Germany

Volkswagen has restarted production at its largest factory in Wolfsburg in Germany.

Production will start at 10 to 15{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} of capacity, VW said in a statement, increasing to around 40{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} the following week. The first vehicle to be produced will be the Golf model and the company said “maximum health protection” has been implemented to protect employees.

Ralf Brandstatter, chief operating officer of the Volkswagen Passenger Cars brand, said in the VW statement that “step-by-step resumption of production is an important signal for the workforce, dealerships, suppliers and the wider economy.” —Holly Ellyatt

6:20 am: Virus dulls the Netherlands’ annual Kings Day celebrations

King Willem-Alexander of the Netherlands has urged the public to stay at home to celebrate the annual ‘King’s Day’ celebrations, which celebrate the monarch’s birthday, instead of the usual massive street festivities.

“This promises to be a unique King’s Day, and mainly because I hope it will be the last King’s Day-at-home ever. Try to make the best of it,” the king said in a live TV broadcast to the public, Reuters reported.

King’s Day normally attracts millions of people to street parties and music festivals in Amsterdam and throughout the country, but the coronavirus has forced the Dutch to stay at home due to lockdown measures. —Holly Ellyatt

5:51 am: China denies spreading virus disinformation following EU report

China’s foreign ministry has denied claims that Beijing is spreading disinformation about the coronavirus.

“China is opposed to the creation and spreading of disinformation by anyone or any organisation. China is a victim of disinformation, not an initiator,” said foreign ministry spokesman Geng Shuang at a regular press briefing on Monday, Reuters reported.

The denial comes after an EU report last week there was evidence that state-backed governments, including China and Russia, were responsible for spreading disinformation on the virus. —Holly Ellyatt

5:10 am: Spain’s daily death toll rises slightly

RT: Mortuary workers wearing protective gear are seen at the San Juan de la Cruz funeral home, amid the coronavirus disease (COVID-19) outbreak in Segovia, Spain, April 23, 2020.

Susana Vera | REUTERS

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