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NYC Has Record Number of Deaths; Fauci Raises Hope: Virus Update

April 9, 2020 admin Comments Off on NYC Has Record Number of Deaths; Fauci Raises Hope: Virus Update

(Bloomberg) — Anthony Fauci, the top U.S. infectious-disease expert, said the final death toll from the virus may be lower than earlier estimated. With the U.S. is on track to overtake Italy in fatalities, New York City reported a record 824 deaths in the past 24 hours.Stocks rallied after the Federal Reserve acted to provide as much as $2.3 trillion in aid, even as huge numbers of Americans applied for jobless benefits.Spain reported fewer deaths and is poised to extend a nationwide lockdown. Curbs are also likely to remain in Britain, where Prime Minister Boris Johnson continues to improve in …read more […]

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Occidental Seeking Federal Lifeline For U.S. Oil Industry

April 9, 2020 admin Comments Off on Occidental Seeking Federal Lifeline For U.S. Oil Industry

(Bloomberg) — Occidental Petroleum Corp. wants U.S. government financial aid for the oil industry even as the biggest producer of Permian Basin crude urges Texas regulators not to interfere with market forces.In a sign of how important the appeal is to Chief Executive Officer Vicki Hollub, employees are being urged to send a pre-written wish list to Congress members. Among other things, the company wants the government to “provide liquidity to the energy industry through this period of unprecedented demand destruction and unsustainable pricing until normal economic conditions return.”The letter, linked in an internal email dated April 7 and seen …read more […]

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Morgan Stanley CEO James Gorman recovers from COVID-19

April 9, 2020 admin Comments Off on Morgan Stanley CEO James Gorman recovers from COVID-19

Gorman released the 10-minute video to staff by email in which he said he had tested positive for coronavirus and had been fully cleared by doctors more than a week ago. Gorman is currently undergoing self-isolation at home and working remotely, according to the video. A Morgan Stanley spokesman confirmed the contents of the video, adding the development was not considered to be material because Gorman was not incapacitated at any time. …read more […]

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Tesla Scored Record China Sales In March, Says Industry Association

April 9, 2020 admin Comments Off on Tesla Scored Record China Sales In March, Says Industry Association

Tesla (TSLA) sold 10,160 vehicles in China in March, according to the China Passenger Car Association (CPCA)- a big leap from the 3,900 vehicles sold in February. This would mark the company’s highest ever monthly sales in the world’s largest auto market.According to Cui Dongshu, CPCA’s secretary general, Tesla sales now account for about 30% of the battery electric vehicles sold in China. Ultimately the company plans to produce 150,000 Model 3 sedans from its Shanghai factory.Indeed, Tesla’s $2 billion Shanghai plant recovered from the coronavirus shutdown faster than peers due to local authority assistance. After resuming operations in February, …read more […]

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Pfizer says early studies of potential coronavirus treatment show promise

April 9, 2020 admin Comments Off on Pfizer says early studies of potential coronavirus treatment show promise

U.S. drugmaker Pfizer Inc said on Thursday that early data has helped it identify a drug candidate with the potential to help treat patients infected with the novel coronavirus. It also said it plans to support studies to determine whether existing Pfizer medicines, including its rheumatoid arthritis drug Xeljanz, may provide benefits for those struggling with the COVID-19 respiratory illness caused by the coronavirus. More than a dozen large drugmakers, including Pfizer, have announced plans in recent months to develop vaccines and treatments for the coronavirus, although few if any are likely to reach patients in time …read more […]