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American multinational pharmaceutical corporation Pfizer developed a vaccine in partnership with the German biotech company BioNTech. The company begins the vaccine trial in the US in an attempt to provide a quick solution for the global pandemic. Another vaccine, developed by Inovio, based on DNA technology, has also begun U.S. clinical trials.

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Saudi Arabia has introduced a new set of rules to cap the wage cut at a maximum of 40%. Saudi newspaper Okaz said that the Saudi Ministry of Human Resource and Social Development has linked the salary cuts to a proportional cut in the working hours. Two conditions are, a direct impact of coronavirus on the organization, secondly, the wage cut should be commensurate with a cut in working hours

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CEO of Pershing Square Capital Management, Bill Ackman completed his ‘single best trade of all-time’ that turned his $27 million modest bearish bet into a $2.6 billion winner. He predicted a severe impact of coronavirus on financial markets in February and decided to put a $27 million bearish bet back then. Ackman closed his position right at the bottom of the stock market with a whopping $2.6 billion in profit

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Gold and silver prices are posting good gains in early U.S. trading Monday, on safe-haven demand amid increasing U.S.-China tensions that threaten another trade war, or worse. Silver bulls' next upside price objective is closing prices above solid technical resistance at the April high of $16.505 an ounce.

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Tyson warned Monday that it expects more meat plant closures this year. "We have and expect to continue to face slowdowns and temporary idling of production facilities from team member shortages or choices we make to ensure operational safety," the company said in a statement discussing financial results from the first three months of this year.

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Hong Kong's economy contracted 8.9% in the January-to-March period compared to a year earlier, Government data shows. "With the disease evolving into a pandemic in March, the economic fallout became even more severe."
The sharp declines in exports, investment and private consumption add to the misfortunes of a fragile Hong Kong economy.

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A possible COVID19 treatment, remdesivir could reach hospitalized patients this week, says the CEO of developer Gilead. “The data shows that remdesivir has a clear-cut significant positive effect in diminishing the time to recovery,” said Dr. Anthony Fauci, the government's top infectious-disease expert, during a White House press conference last week.

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Carnival Cruise Line announced plans Monday to resume service beginning August 1, despite concerns from the Centers for Disease Control and Prevention that cruise ship travel "exacerbates the global spread of Covid-19."
Company, which is owned by Carnival Corp., said it advised travel agents on Monday that eight of its ships will return to service on Aug. 1.

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Costco, Kroger and other grocery stores are rationing the amount of meat customers can buy at one time as processing at U.S. meat plants has slowed down or stopped completely because of the coronavirus. Costco, a chain known for letting customers buy in bulk, is limiting purchases to three items per member of beef, pork and poultry products. Food Lion has limited meat purchases since mid-April, a spokesperson told FOX

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Wall Street tumbled on Monday in early morning trading in New York on worries of growing US-China tensions over the coronavirus crisis and the state of the airline industry after billionaire investor Warren Buffett's Berkshire Hathaway said it offloaded its entire stake in the top four US carriers.

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A top engineer at Amazon has resigned in protest of the company’s treatment of warehouse workers. He said that listening to worker accounts of what life is like in Amazon’s warehouses during the coronavirus pandemic was difficult to stomach, and that he “snapped” when they fired the activists.

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J.Crew Group, which operates the J.Crew and Madewell brands, has become the first national US retailer to file for bankruptcy protection since the coronavirus pandemic forced a wave of store closures. The clothing retailer has filed to begin Chapter 11 proceedings in federal bankruptcy court in Virginia. The company also said it had reached a deal with its lenders to convert about $1.65 billion of debt into equity

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To ensure the flow of credit to these cash-strapped governments, the Federal Reserve has embarked on a previously unthinkable act: creating up to $500 billion in new fiat currency and lending it directly to states, cities, and counties through its Municipal Liquidity Facility. Now that the Federal Reserve is actively engaged in creating new fiat currency to fund state and local governments, Congress must step in.

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The federal government has ordered meatpacking plants to remain open to keep America's food supply chain intact. But the data reveal worker safety is jeopardized when companies don't drastically change the work culture and provide protective equipment.Facilities should provide materials in languages spoken by their workers.

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“We are immensely grateful to the patients who participated in this important clinical trial and their families,” said Patrick Jackson, MD, the trial’s principal investigator at UVA. Tested at UVA Health and 67 other sites around the world, remdesivir helped patients with advanced cases of COVID-19 recover 31% faster than patients who received a placebo, according to preliminary trial results released by the National Institutes of Health.

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In his letter, Ware said the SBA inspector general's office started reviews of the PPP and the Economic Injury Disaster Loan program on April 24. “The Criminal Division’s Fraud Section is working with our law enforcement partners, the Small Business Administration and banks processing loans under the Paycheck Protection Program to identify outliers in the data," DOJ spokesperson Peter Carr said.

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According to PlanB, who recently told Morgan Creek Digital co-founder Anthony Pompliano that he’s a member of an institutional investment team that manages roughly $100 billion in assets, his latest stock-to-flow model shows BTC rising to $288,000 by the end of 2024. PlanB says the relationship between Bitcoin’s price and its scarcity, determined by dividing the overall supply by its yearly production, are co integrated.

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While the market waits for the critical OPEC+ production cut deal to kick in, early data on OPEC’s April production suggests that it hit 13-month highs in April--30.25 million bpd. This is the second production cut the company announced in the last couple of weeks.

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The CDC said it responded to state and local authorities’ requests for on-site or remote technical assistance after learning of outbreaks in several meat and poultry facilities in early April. By April 27, the CDC received data on coronavirus cases among meat processing employees from 19 of 23 states where at least one case in the industry was reported.

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Between compensation payments related to the 737 MAX grounding, delayed aircraft deliveries resulting from customers' distress, and Boeing's need to support its supply chain, cash burn will likely continue to exceed reported losses for most if not all of 2020. While Boeing is doing its best to cut costs, dramatically lower production rates will put pressure on profit margins

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Nissan Motor, which has delayed its restart plans at least twice, is expected to reopen in mid-May. The company stopped production on March 20. Tesla, which at one point planned to restart production next week, has not announced when production at its plant in Fremont, California will begin.

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Health officials have had their eyes on the investigational anti-viral drug for the past few weeks, hoping it may prove to be an effective treatment for COVID-19, the disease caused by the new coronavirus. Given the dire need for a cure, the FDA pounced on the findings and authorized the emergency use of remdesivir in hospitalized patients who need it (specifically adults and children who need oxygen therapy ).

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The billionaire investor's company was widely expected to deploy a chunk of its $128 billion cash pile last quarter, but instead its reserves grew to $137 billion by the end of March. "The amount of investment gains/losses in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules,"

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Tesla boss Elon Musk wiped $14bn off the carmaker's value after tweeting its share price was too high. It also knocked $3bn off Mr. Musk's own stake in Tesla as investors promptly bailed out of the company. "Tesla stock price too high imo," he said. On Friday, the Wall Street Journal reported it had asked the billionaire if he was joking about the share price tweet, receiving the reply "No"

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With Amazon's delivery ambitions on hold while it focuses solely on meeting consumers' needs in the midst of the coronavirus contagion, FedEx (NYSE:FDX) and UPS (NYSE:UPS) each made deals with small and medium-sized businesses that may already be frustrated by the online sales platform's heavy-handed ways.

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