COVID-19 update: 1.94 million cases, 121,726 dead; Trump clashing with governors
An apparent slowdown in deaths and hospitalizations from the coronavirus that causes COVID-19 in the U.S. epicenter of New York weighed against a grim forecast for the global economy and a widening row between President Donald Trump and state governors over how to get Americans back to work.
His comments came after Democratic leaders in the Northeast and West Coast announced separate state agreements to coordinate their efforts to scale back stay-at-home orders or reopen businesses on their own timetable. “The only way this really horrendous situation could get worse is if you now see a war between the federal government and the states.” He added, “It’s not legal. It’s a total abrogation of the Constitution. [The] 10th Amendment specifically says power to the states.” The governor also told CNN on Monday evening that Trump’s words were “hostile” and “aggressive.”
The U.S. first-quarter earnings season kicked off on Tuesday with reports from Johnson & Johnson, J.P. Morgan Chase & Co. and Wells Fargo & Co. The two banks were forced to build reserves to protect against souring loans, as expected. J & J had a strong quarter, however, as higher sales of over-the-counter medications offset a decline in sales of medical devices. The company raised its quarterly dividend by 6.3% to $1.01 a share.
• Dick’s Sporting Goods Inc. DKS, +0.82% is offering $500 million in convertible senior notes that mature in 2025 as it moves to bolster liquidity. Proceeds of the deal will be used for general corporate purposes and the retailer will enter hedging positions to avoid diluting its stock on conversion. Dick’s has already furloughed a “significant number” of employees who work at its retail stores, distribution centers and corporate headquarters to combat the impact of COVID-19.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus live updates: More than 2M cases worldwide; New York Gov. Andrew Cuomo says 'worst is over'; US deaths declineThe number of worldwide confirmed coronavirus cases hit 2 million, while the New York governor expressed optimism and deaths in the US declined.
Read more »
Coronavirus updates: Grim milestone as worldwide cases top 2 millionEmotional moment in Spain as hospital staff embrace wife and son of nurse who died after becoming infected with COVID-19.
Read more »
Trump attacks World Health Organization for coronavirus response“It’s a campaign to avoid any personal responsibility for the slow actions of the federal government in responding to the coronavirus,' PhilipRucker says about President Trump’s remarks regarding the World Health Organization.
Read more »
Coronavirus live updates: Global coronavirus cases near 2 millionCoronavirus latest: • Global coronavirus cases near 2 million • U.S. recorded death toll tops 23,500 • President Trump tells reporters that 'everything we did was right'
Read more »