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TikTok plans to sue Trump administration over ban as soon as Tuesday, report says TikTok will file the federal lawsuit against the administration as soon as Tuesday, NPR reported, citing a person directly involved in the matter. https://www.cnbc.com/2020/08/08/tiktok-plans-to-sue-trump-administration-over-ban-as-soon-as-tuesday-reports-say.html

Fed's Kashkari advocates six-week economic lockdown to defeat the coronavirus "To be effective, the lockdown has to be as comprehensive and strict as possible," Kashkari and Michael Osterholm wrote. https://www.cnbc.com/2020/08/08/feds-kashkari-advocates-six-week-economic-lockdown-to-defeat-the-coronavirus.html

Outlook for cinemas darkens as coronavirus resurges in the U.S. American studios have had to make tough decisions about film releases due to resurgences of coronavirus cases in the U.S. https://www.cnbc.com/2020/08/08/dire-outlook-for-cinemas-as-coronavirus-resurges-in-us.html

Trump's ban of Chinese apps has lots of precedent in other countries, and Apple and Google comply Overall, Apple removed 851 apps in the year between July 2018 and June 2019, and the vast majority of requests came from China. https://www.cnbc.com/2020/08/08/trump-tiktok-wechat-ban-echoes-other-countries-including-china.html

How San Francisco succeeded more than other U.S. cities in fighting the coronavirus San Francisco's response wasn't perfect, given a few recent mini surges, but it still did a decent job overall of controlling the pandemic. Here's why. https://www.cnbc.com/2020/08/08/how-san-francisco-beat-other-us-cities-in-fighting-the-coronavirus.html

Buffett buys back a record $5.1 billion in Berkshire stock as operating earnings take a big hit Berkshire announced it bought $5.1 billion of its own shares during the second quarter as the pandemic dented the conglomerate's operations. https://www.cnbc.com/2020/08/08/berkshire-hathaway-earnings-q2-2020.html

Trump to hold news conference after coronavirus stimulus talks fall apart President Donald Trump will be holding a press conference from Bedminster, New Jersey Friday evening after another "disappointing" meeting between Democrats and the White House on coronavirus aid yielded little progress. https://www.cnbc.com/2020/08/07/trump-to-hold-news-conference-after-coronavirus-stimulus-talks-fall-apart.html

Dr. Anthony Fauci says chance of coronavirus vaccine being highly effective is 'not great' Scientists are hoping for a coronavirus vaccine that is at least 75% effective, but 50% or 60% effective would be acceptable, too, Dr. Anthony Fauci said. https://www.cnbc.com/2020/08/07/coronavirus-vaccine-dr-fauci-says-chances-of-it-being-highly-effective-is-not-great.html

U.S. intel report on Trump-Biden election meddling reveals who Russia, China and Iran want to win While many foreign actors have views on who should hold the White House, "We are primarily concerned about the ongoing and potential activity by China, Russia, and Iran," a top intelligence official said. https://www.cnbc.com/2020/08/07/us-intel-russia-trying-to-hurt-biden-but-china-iran-dont-want-trump.html

Markets could be challenged by Washington stimulus talks and China tensions The debate over the next round of stimulus and rising tensions between the White House and China could create headwinds for the market. https://www.cnbc.com/2020/08/07/markets-could-be-challenged-by-washington-stimulus-talks-and-china-tensions.html

Canada to impose tariffs on $2.7 billion in U.S. goods after Trump reignites trade feud Canada's move came in response to President Donald Trump's decision to reimpose 10% aluminum duties on its trade partner. https://www.cnbc.com/2020/08/07/canada-to-impose-tariffs-on-2point7-billion-in-us-goods-after-trump-reignites-trade-feud.html

Buffett's Berkshire expected to post a quarterly earnings surge as market comeback boosts portfolio Investors are preparing for a variety of news in Berkshire Hathaway's second-quarter earnings report this weekend. https://www.cnbc.com/2020/08/07/buffetts-berkshire-expected-to-post-a-quarterly-earnings-surge-as-market-comeback-boosts-portfolio.html

Hawaii reinstates coronavirus restrictions: 'There's no question that the virus is surging' "There is no question that the virus is surging in our state, and I know that many are worried about their health," Hawaii Gov. David Ige said. https://www.cnbc.com/2020/08/07/hawaii-reinstates-coronavirus-restrictions-theres-no-question-that-the-virus-is-surging.html

The jobs report was better than expected, but market worries gains will be fleeting without stimulus July's jobs report was a slight positive, but market focus remains on whether Congress can agree on stimulus to head off future job losses. https://www.cnbc.com/2020/08/07/the-jobs-report-was-better-than-expected-but-market-worries-gains-will-be-fleeting-without-stimulus.html

U.S. sanctions Hong Kong leader Carrie Lam for carrying out Chinese 'policies of suppression' The Trump administration has been critical of Beijing's recent decision to pass a sweeping national security law aimed at limiting Hong Kong's autonomy and banning literature critical of the Chinese Communist Party. https://www.cnbc.com/2020/08/07/us-sanctions-hong-kong-leader-carrie-lam.html

Coronavirus relief talks grind to a near halt, dimming chances of a stimulus deal Democrats and the Trump administration have made little progress on a coronavirus relief bill as President Trump considers executive action. https://www.cnbc.com/2020/08/07/coronavirus-stimulus-updates-relief-bill-stalls-trump-mulls-executive-order.html

Payrolls increase by nearly 1.8 million, topping expectations despite coronavirus resurgence The total nonfarm payroll increased of 1.763 million for the month. The unemployment rate fell to 10.2%, also better than the estimates from economists surveyed by Dow Jones. https://www.cnbc.com/2020/08/07/jobs-report-july-2020.html

Stocks making the biggest moves in the premarket: TripAdvisor, T-Mobile US, FedEx, Uber & more Names on the move ahead of the open. https://www.cnbc.com/2020/08/07/stocks-making-the-biggest-moves-in-the-premarket-tripadvisor-t-mobile-us-fedex-uber-more.html

TikTok threatens legal action against Trump's executive order, says it sets a 'dangerous precedent' President Donald Trump issued an executive order Thursday that would ban the Chinese social media app from doing business with U.S. firms. https://www.cnbc.com/2020/08/07/tiktok-threatens-legal-action-against-trumps-executive-order.html

Shares of Tencent plunge more than 4% after Trump's executive order on TikTok and WeChat Shares of Hong Kong-listed Tencent plunged nearly 7% by Friday afternoon after U.S. President Donald Trump issued executive orders targeting Chinese apps WeChat and TikTok. https://www.cnbc.com/2020/08/07/tencent-chinese-tech-stocks-fall-after-trump-executive-order-on-tiktok-wechat.html