British Airways to auction off art; Oregon pauses reopening due to rising cases

British Airways to auction off art; Oregon pauses reopening due to rising cases

The number of confirmed coronavirus cases continues to rise in U.S. states that were among the first and most aggressive to reopen, leading some local officials to reconsider reopening plans. In Oregon, Gov. Kate Brown announced a 7-day statewide pause on further reopening as health officials study the data and try to contain budding outbreaks.

In Arizona, however, Gov. Doug Ducey tried to reassure people that the rise in confirmed cases was expected and that the state’s hospitals have capacity to handle a further surge. 

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 7.53 million
  • Global deaths: At least 421,856
  • U.S. cases: More than 2.02 million
  • U.S. deaths: At least 113,820

The data above was compiled by Johns Hopkins University.

Dow jumps more than 600 points as Wall Street rebounds from its biggest sell-off since March

9:37 a.m. ET — Stocks started the day higher and clawed back some of the sharp losses from Wall Street’s worst day since March, reports CNBC’s Fred Imbert and Eustance Huang. The Dow Jones Industrial Average opened 684 points higher, or 2.8%. The S&P 500 gained 2.6% while the Nasdaq Composite advanced 2.4%. —Melodie Warner 

New cases by region 

Coronavirus mortgage bailouts falls for the second week

8:22 a.m. ET — Coronavirus-related mortgage relief programs saw the number of borrowers decrease for the second straight week, CNBC’s Diana Olick reports.

Borrowers fell by 77,000 from last week and are now down 112,000 since the peak week of May 22, with loans financed by Fannie Mae and Freddie Mac showing the greatest decrease.

These programs allow borrowers to delay monthly payments for up to a year.

“With 4.6 million remaining in forbearance, there is still significant work ahead,” said Andy Walden, director of market research for Black Knight, which tracks the data. “With volumes seemingly cresting, the focus now shifts to helping those homeowners who remain in forbearance get back on track financially.”  —Suzanne Blake

British Airways to auction off art as pandemic weighs

British Airways’ announcement fell short for some frequent fliers who expressed their disappointment online.

Scott Barbour

7:18 a.m. ET — British Airways plans to auction off artwork to offset the financial damage from the coronavirus crisis.

The auction will reportedly include works from Damien Hirst, Peter Doig and Bridget Riley, with one piece valued at over £1 million ($1.26 million), The Evening Standard first reported.

The airline has faced immense financial pressure amid the crisis, with the outbreak forcing flights to be grounded and suppressing demand for travel. At least 10 artworks from the airline’s collection, which had previously been on display in its airport lounges, will be put up for sale. —Chloe Taylor

Oregon pauses reopening as cases rise

Empty streets in downtown Portland, Oregon, on April 22, 2020.

Moriah Ratner/Bloomberg via Getty Images

7:12 a.m. ET — Oregon is placing a 7-day pause on county applications to move deeper into reopening amid a spike in new cases, Gov. Kate Brown announced on Twitter late Thursday. 

The governor began to ease restrictions on some outdoor activities on May 5 and allowed some stores to reopen with modifications on May 15. On Thursday, Oregon reported 178 new Covid-19 cases, bringing the state’s total to 5,237. Two more people died due to Covid-19, bringing the state’s death toll to 171.

“This one-week pause will give public health experts time to assess what factors are driving the spread of the virus,” Brown said in a statement on Twitter. “I will use the data we see in the next week to determine whether to lift this pause or extend it.” —Will Feuer

Read CNBC’s previous coronavirus live coverage here: UK GDP posts steepest one-month fall in April, Twitter takes down China-linked accounts spreading disinformation

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