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Business

Chipotle’s digital gross sales stay sturdy as eating rooms reopen: CFO

Chipotle Mexican Grill is encouraged by the strength of its digital sales even with its dining rooms open due to coronavirus-related closures, CFO Jack Hartung told CNBC on Friday.

“The pandemic has really put some turbochargers behind our digital business, of course, but as we start to see Covid behind us – and we still have a long way to go – we keep most of that digital business, around 80%,” said Hartung in an interview on “Closing Bell”.

“Then when the restaurants reopened … we regained about 60% of what we lost when the pandemic started,” added Hartung, who joined Chipotle nearly two decades ago. “So, really, we’ll be ahead of the game in the end, though [the] The pandemic is completely behind us. We are very optimistic about where we are going from here. “

During the Covid crisis, customers flocked to Chipotle’s online ordering options. The fast casual chain saw digital sales jump 174% year over year in 2020, resulting in a 7.1% increase in total sales. Digital sales accounted for 46.2% of the California-based company’s sales last year, compared to 18% of sales in 2019.

In November, Chipotle opened its first restaurant entirely digital. More recently, quesadillas have been added to the menu, but the long-awaited addition is only available for online orders.

Earlier this week, Chipotle announced an expansion of its debt-free college degree for employees. It now includes degrees in agriculture, food and hospitality.

According to Hartung, Chipotle has seen positive results since the educational initiative was launched almost two years ago.

“When our employees use these debt-free programs, they are three and a half times more likely to stay with us and seven times more likely to be in leadership positions. We see this as an investment in our people.” Said Hartung.

Chipotle’s shares closed the session modestly on Friday at around $ 1,531 apiece. The stock is up 10.4% since the start of the year and nearly 100% over the past 12 months.

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Business

Biden says states ought to reinstate masks mandates and wait to reopen companies as Covid instances rise

President Joe Biden speaks about Covid-19 reactions and vaccinations in the South Court Auditorium of the White House in Washington DC on March 29, 2021.

Jim Watson | AFP | Getty Images

President Joe Biden on Monday called on governors and local leaders dropping full masked mandates in order to reinstate their orders. Some states should wait to reopen their economies while condemning “reckless behavior” that is likely to cause further infections.

“Our work is far from over. The war against Covid-19 is far from won,” Biden said at a press conference in which he announced a number of plans to significantly expand access to vaccines in the coming weeks. “This is dead serious.”

The President said he supported Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, who said earlier Monday that the US is facing “impending doom” as daily Covid-19 cases begin to rebound. Biden also said he believes some states should pause their reopening plans in light of the recent surge in cases.

Walensky said earlier in the day during a press conference that many states are reopening their economies even though virus transmission levels remain too high. Walensky said she would ask governors on Tuesday “not to open too quickly”.

“I’m going to pause here, I’m going to lose the script, and I’m going to think about the reoccurring feeling I have before the impending doom,” Walensky told reporters. “We can look forward to so much, so much promise and potential where we are and so much reason to hope, but right now I’m scared.”

According to a CNBC analysis of data compiled by Johns Hopkins University, the US saw an average of 63,239 new Covid-19 cases per day over the past week, up 16% from the previous week. In 30 states and the District of Columbia, daily cases are increasing by at least 5%.

While hospital stays and coronavirus deaths tend to lag behind infection, the daily death toll has hit a plateau. The U.S. reports a weekly average of 970 coronavirus deaths per day, a 3% decrease from the previous week, according to Johns Hopkins.

“We’re giving up hard-fought, hard-won wins,” said Biden. “And as much as we do in America, it’s time to do more.”

Urging states and corporations to maintain or reintroduce widespread mask mandates, the president said failure to take the virus seriously “is exactly what got us into this chaos in the first place” and could lead to more infections and deaths .

Senior public health officials have urged states to proceed with caution for weeks, warning that highly transmittable virus variants – particularly B.1.1.7, which were first identified in the UK – threaten to jeopardize the country’s progress after the infections are almost have receded for three months.

Despite these requests, a handful of governors have decided to lift capacity restrictions on businesses like restaurants and gyms. Some states, like Texas and Mississippi, have dropped requirements for statewide masks, while others, like Alabama, announced it in early April.

“We’re making progress on vaccinations, but cases are rising and the virus is still spreading in too many places,” Biden said.

He announced that 90% of adults in the US will be eligible for Covid-19 shots by April 19 and can get it within five miles of their home under the government’s expanded vaccination schedule.

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Health

the right way to reopen tourism this summer season

This photo illustration shows a French passport and an international vaccination or prophylactic certificate in front of the Berlaymont, the headquarters of the EU Commission, on March 13, 2021 in Brussels, Belgium.

Thierry Monasse | Getty Images

LONDON – The European Commission, the EU’s executive branch, proposed a vaccination certificate for citizens on Wednesday to support tourism-related activities this summer.

Tourism-dependent economies like Greece have pushed for a common EU system that would restore some travel to the region this summer. These countries struggled with fewer visitors in 2020 and want to welcome people back to avoid more serious economic scars.

As a result, the Commission proposed that EU citizens be allowed to use a “digital green certificate” to prove that they have been vaccinated against the virus. that they received a negative Covid-19 test; or they have recovered after contracting the coronavirus.

The idea with the other two options in addition to vaccination is to avoid criticism that the document discriminates against those who have not yet received a shot. However, some nations, including France, are concerned about the idea as young people will be the last to receive a vaccine.

At a press conference on Wednesday, the President of the European Commission, Ursula von der Leyen, said: “The certificate ensures that the results, the data it contains, the data and the minimum data set are mutually recognized in each Member State.”

“We want to help Member States restore free movement in a safe, responsible and trustworthy way,” she added.

In addition, a vaccine certificate is a difficult pill for some EU countries given the region’s free movement policy. Until the coronavirus emerged and in most cases European citizens were able to move from one country to another without passport control.

The European Commission also said on Wednesday that all vaccines approved by the European Medicines Agency should be automatically recognized by other member states under this new system. However, countries that wished to do so could also recognize vaccines that have not yet been approved by the European regulator.

Hungary, for example, vaccinates its citizens with the Russian vaccine Sputnik V and the shot from China. These have not yet been approved by the EMA.

The document is expected to contain only one very specific record: the citizen’s name and date of birth, the date the certificate was issued, relevant information about a vaccine, test or recovery, and a unique identification name.

“This cannot be maintained by the countries visited,” the Commission said in a statement on Wednesday.

The Brussels-based institution also stated that the certificate will be available free of charge in the language of the issuing country as well as in English and that it is only a temporary mechanism.

“It will be suspended as soon as the World Health Organization declares the end of the international health emergency Covid-19,” says a Commission document.

Wednesday’s proposal will be discussed at the next European summit later this month. In February, the President of the European Commission, Ursula von der Leyen, said that the introduction of a digital certificate could take three months.

The various EU countries and the European Parliament must approve the Commission’s proposal before it can be implemented.

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Business

Disneyland to reopen on April 30, Disney CEO Bob Chapek says

The two Disney theme parks in California will reopen on April 30th, CEO Bob Chapek said on CNBC’s Squawk Alley on Wednesday.

“We saw the excitement, the need for people to return to our parks around the world,” Chapek told CNBC’s Julia Boorstin. “We’ve been with Walt Disney World for about nine months and there’s certainly no shortage of demand.”

“I think when people get vaccinated they get a bit more confident in the fact that they can travel and, you know, stay Covid-free,” he added. “Consumers trust Disney to do the right thing, and we’ve proven for sure that we can [open] responsible whether it is temperature controls, masks, social distancing, [or] improved hygiene in the parks. “

Disney’s Grand Californian Hotel and Spa will reopen in front of the parks on April 29 with limited capacity. The Vacation Club Villa at the Grand Californian will reopen May 2nd, and Disney’s Paradise Pier Hotel and Disneyland Hotel will reopen at a later date.

All California theme parks were closed last year due to Covid restrictions. While guidelines in other states like Florida have allowed parks to reopen with limited capacity, California rules have closed theme parks large and small.

However, new state guidelines allow amusement parks to reopen from April 1, with a capacity of 15% to 35%, depending on the spread of the virus in the community. Masks and other health precautions are required. Chapek said the two parks will initially operate at around 15% capacity.

Disneyland Resort visitors take photos in front of Disney California Adventure Park in Anaheim, California on Thursday, October 22, 2020.

Jeff Gritchen | MediaNews Group | Getty Images

According to a CNBC analysis of data compiled by Johns Hopkins University, California reports nearly 2,900 new Covid-19 cases per day based on a weekly average, a decrease of nearly 32% from a week ago. The number of new Covid cases has decreased as more and more people have been vaccinated. With an increase in supply and access, an average of 2.4 million people in the US are being vaccinated daily

Orange County, where Disneyland and California Adventure are located, has four new cases per 100,000 people every day. At its peak in mid-January, there were 118 new cases per 100,000 people in the county each day.

The shutdown last year resulted in Disney laying off tens of thousands of workers and limiting an important source of income for the media company. The Parks, Experiences, and Consumer Staples segment accounted for 37% of the company’s total revenue of $ 69.6 billion, or approximately $ 26.2 billion, in 2019.

A year later, revenue shrank to $ 16.5 billion, or roughly 25% of the company’s total revenue of $ 65.4 billion.

Christine McCarthy, the company’s chief financial officer, said the company made “an incremental net positive contribution” to the parks opened during the pandemic from guests who visited the company despite reduced capacity. This means that the revenues exceeded the variable costs associated with the opening, she explained.

As the parks expand their capacity and reopen, there will be some level of social distancing and masking for the rest of the year.

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Business

Los Angeles Museums Can Reopen, at 25 P.c Capability

LOS ANGELES – After the museums had been closed for a year, they were finally given the right to reopen indoors on Monday with a capacity of 25 percent when the state of Los Angeles County moved into its less restrictive red level of Covid-19 Relocated regulations.

“It’s exciting that we’ve finally got permission to reopen,” said Michael Govan, director of the Los Angeles County Art Museum, which is slated to reopen April 1, was able to see the beauty, comfort and exposure to the Using the topics of our time that museums can offer. After all, so can those in Los Angeles. “

The change reflects an improving pandemic picture in Los Angeles, where coronavirus cases decline as the number of vaccinations increases. Visitors can finally see shows like Made in LA 2020 at Hammer and the Huntington, an important showcase for emerging local artists.

The lengthy shutdown cost the county’s museums, zoos, and aquariums more than $ 5 billion in 2020, according to the California Association of Museums. Galleries were allowed to operate because they are classified as trade.

Some museum directors said it would take a while to set up the appropriate security protocols. Govan said LACMA “can’t wait to greet visitors in person.”

Ann Philbin, director of the hammer, said, “It will take us a few weeks to get up. We look to the middle of April. “

“I’m so excited to see people in the galleries and that ‘Made in LA’ is finally getting an audience,” she added.

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Business

The Shed Plans to Reopen for Covid-Examined Audiences

The New York art scene is about to reopen yet another milestone: The Shed, a major performing arts venue in Hudson Yards, announced Wednesday that it would be hosting a series of indoor performances for a limited audience over the next month , in which everyone can participate either tested for the coronavirus or vaccinated against it.

The Shed announced that it will present four events next month: concerts by cellist and singer Kelsey Lu, soprano Renée Fleming and a string ensemble from the New York Philharmonic, and a comedy by Michelle Wolf.

Each of the performances is open to up to 150 masked people in a room with 1,280 seats. The Shed said customers would be required to provide confirmation of a recent negative coronavirus test or confirmation of full vaccination. By requiring tests, the shed can accommodate the largest number of viewers permitted under state protocols.

“Capacity is limited in these first few steps, but you have to start somewhere,” said the shed’s artistic director, Alex Poots. “These first steps are really important to us, to our audiences, and to our artists – just the idea that we could get back to something joyful.”

The Shed is the third New York art presenter to announce concrete plans to resume the program this week after Governor Andrew M. Cuomo announced last week that arts and entertainment organizations could begin doing indoor work for audiences with limited audiences Presenting capacity. On Tuesday, commercial producer Daryl Roth said she would perform “Blindness,” an audio adaptation of José Saramago’s novel, in front of up to 50 viewers in her Union Square theater, and Park Avenue Armory said she would do a number of Presenting music, dance and movement works, starting with a piece by Bill T. Jones for an audience of 100. The Armory said ticket buyers would need to do a free on-site rapid coronavirus test before entering.

Poots said the shed would begin with music and comedy because “both have universal appeal and also go well with the guidelines that have emerged”.

“It gets a lot more complex when you deal with more complex art forms that require a lot of costume changes or close-ups,” he said. The productions are small but not tiny; Lu will be accompanied by 14 musicians and the Philharmonic Ensemble will have 20 players. None of the performances are interrupted.

The first performer, Lu, plans to present an opera called “This is a Test”.

“I’ve been waiting for this day – it’s been too long,” said Lu. “There is nothing like the audience and the performers. It left a void for me and so many of us. “

The Shed, like many art institutions, canceled programs starting March 12th last year. Since then it has presented a visual art exhibition with works by Howardena Pindell; a filmed rendition of a play “November” by Claudia Rankine; and a digital online series of works. But these April events will be the first live performances with a paying audience. The shed has some significant architectural advantages given the circumstances: it’s a new building with a state-of-the-art HVAC system that can fully refresh the breathable indoor air every 30 minutes, and its 18,000 square meter main performance space opens directly to the outside.

The Shed plans to follow the performances in April by hosting the Frieze New York art fair for the first time in May and Open Call, a program for early career artists, as well as programs in partnership with the Tribeca Film Festival. Poots said he hoped “things will get a lot easier in terms of capacity and regulations” by the fall.

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World News

Methods to Reopen Faculties – The New York Instances

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There are two obvious ways to reopen schools. One is to take precautions like wearing masks to minimize the risk of breakouts in school buildings. The other is to vaccinate the country’s teachers as soon as possible.

Both strategies now seem feasible – and yet none of them happens in many places.

Instead, about half of K-12 students still don’t spend time in classrooms. School closure rates are highest in Maryland, New Mexico, California, and Oregon, according to Burbio. Experts say the prolonged absences cause major learning problems, especially for lower-income students.

Today’s newsletter is about how American children can get back to school quickly and safely.

The country now has enough doses of vaccine to get teachers to the top without significantly delaying vaccinations for everyone else.

Nationwide around 6.5 million people work in a K-12 school. It’s a much smaller group than the 21 million health care workers, many of whom were among the first group of Americans to be eligible for vaccines.

For reference, Moderna and Pfizer have released an average of more than a million new doses to the federal government every day this month. That daily number is expected to exceed three million in the next month. Immediately vaccinating every school employee would postpone everyone else’s vaccine by a few days at most.

Some states have already given priority to teachers, with Kentucky appearing to be the most advanced, according to Education Week. The administration of the first dose to the majority of K-12 workers who want one is complete. “This will help us get our children back to school safely faster than any other state,” Governor Andy Beshear told these children.

Even before the teachers were fully vaccinated – a process that can take more than a month after the first shot – many schools showed how to reopen.

It’s about “masking, social distancing, hand washing, adequate ventilation, and contact tracing,” as Susan Dominus wrote (in a fascinating Times Magazine story of how Rhode Island kept its schools largely open). That includes setting up virtual alternatives for some students and staff that they want. If schools have followed this approach, research by the Centers for Disease Control and Prevention and Others has shown it has usually worked.

In one of the most rigorous studies, a group at Tulane University looked at hospital stays (a more reliable measure than positive tests) before and after school reopened. The results suggest that at least 75 percent of U.S. communities are now in good enough control of Covid to reopen schools without triggering new outbreaks, including many places where schools remain closed.

The evidence is grim for places with the worst current outbreaks, like much of the Carolinas. And some schools seem unsafe to reopen, including a Georgia district that is the subject of a new CDC case study.

Even so, Douglas Harris, the Tulane economist who leads the research group, told me, “All studies suggest that if we focus on it, we can do this.” He added, “We can’t do school the old way, but we can do better.”

One final note: I’ve been writing recently about the cost of the overly negative message that many people are spreading via the vaccines, even though the vaccines virtually eliminate severe forms of Covid. Schools are another place you can see this cost – in Oregon.

Oregon, like Kentucky, has made it a priority to vaccinate teachers. However, some teacher unions there expressed skepticism about reopening even after teachers were vaccinated, as my colleague Shawn Hubler wrote.

One morning read: After seven decades, Lucky Luke – a classic Franco-Belgian comic – adds a black hero.

From the opinion: Finding love in the pandemic is like “falling through space, compressing time further in isolation”.

Lived life: Ahmed Zaki Yamani, a Harvard trained attorney, was a longtime oil minister in Saudi Arabia and the architect of the Arab world’s aspiration to control its own energy resources in the 1970s. Yamani died at the age of 90.

Spring training has begun and Major League Baseball is suffering from a strange disease: some high-profile teams are not trying to win. The Boston Red Sox, Chicago Cubs, Cleveland Indians, Colorado Rockies, and Pittsburgh Pirates have dumped all of their top players in recent trades and made only a modest return.

It’s deeply frustrating for the fans. “On behalf of all the Rockies fans, can you file a complaint against the Rockies management with the Better Business Bureau because it’s just totally awful?” One recently wrote to the Denver Post.

What’s happening? Baseball teams are businesses, and winning isn’t always the best way to profit. The teams receive significant income from sales of goods, television contracts, and more. And the pandemic has destroyed the form of revenue that depends most on performance – people who buy tickets.

In response, several teams decided to reduce the payroll. Their executives promise fans that adding exciting young players later is part of a plan. “The idea of ​​demolition – some call it refueling – isn’t new,” said Tyler Kepner of the Times. “But it’s definitely more common now.”

As Tyler points out, many gamblers are also frustrated and believe that the owners are acting like a cartel that keeps salaries down. The negotiation agreement expires after this season and the next round of negotiations could be difficult.

In Tyler’s recent columnsHe looks at three teams trying to win: the San Diego Padres, the New York Mets, and the New York Yankees.

The pangram from yesterday’s Spelling Bee was a dormitory. Here is today’s puzzle – or you can play online.

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Health

New York’s Cuomo says amusement parks, summer time camps can reopen

People ride a tandem bike wearing face masks along the Coney Island boardwalk in Brooklyn, New York as coronavirus disease (COVID-19) lags on May 4, 2020.

Shannon Stapleton | Reuters

New York is pushing ahead with reopening more businesses after seeing a drop in post-vacation Covid-19 cases. However, the governor said the state is “keeping an eye” on problematic variants of the virus that could reverse its progress.

Indoor family entertainment centers such as arcades, trampoline parks and laser tag facilities are allowed to reopen from March 26 at a 25% capacity with additional precautions such as social distancing, wearing masks and frequent cleaning, Governor Andrew Cuomo said on Wednesday.

Outdoor amusement parks can reopen on April 9 with 33% capacity and similar requirements, and parents can plan for the summer camps to return overnight sometime in June, the Democratic governor said on a call with reporters.

“That won’t happen until June,” said Cuomo to the summer camps, “and we hope that the current development remains until June – keep an eye on these interesting variants. But they can plan a reopening.”

The governor has gradually started lifting restrictions on businesses in recent weeks as the state rolls in more doses of Covid vaccines and cases continue to decline due to a post-holiday spike.

According to a CNBC analysis of data compiled by Johns Hopkins University, the state reports a weekly average of 7,949 cases of Covid per day, a decrease of more than 8% from the previous week and the lowest since early December.

Last week, Cuomo said major stadiums and arenas in New York will reopen in late February with the necessary testing ahead of time, a strategy the state “wants to lead the way” with. At the weekend, New York restaurants were allowed to reopen their indoor restaurants with a capacity of 25%.

However, new and highly contagious Covid-19 variants could reverse New York’s progress or hinder its planned reopening. The governor said the state has now identified 82 Covid-19 cases with variant B.1.1.7 first identified in the UK in December, with 12 cases added since Saturday. He said most of these new cases were found in the New York City area.

Federal health officials have repeatedly asked Americans to remain vigilant amid the highly contagious varieties first found in the UK, South Africa and Brazil.

So far, the US has identified at least 1,277 Covid-19 cases with variant B.1.1.7 discovered in South Africa, 19 of variant B.1.351 discovered in South Africa and 3 cases of variant P.1 in Brazil according to the latest data from the CDC.

“I think we should assume that the next wave of case growth, as far as we have it, will happen with B.1.1.7 and I think everyone needs to be even more careful.” Andy Slavitt, a senior advisor to White House Covid, told MSNBC on Monday.

Dr. Rochelle Walensky, director of the U.S. Centers for Disease Control and Prevention, said Wednesday that nationwide Covid cases have declined for five consecutive weeks and new hospitalizations have also declined since early January.

However, the spread of communicable variants of coronavirus could “jeopardize the progress we have made over the past month if we lose our vigilance,” Walensky said during a press conference for the Covid Response Team at the White House.

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Business

New York Gov. Cuomo says Barclays Middle, different massive arenas within the state, can reopen beginning Feb. 23

New York Governor Andrew Cuomo speaks to reporters during a press conference at a COVID-19 pop-up vaccination center in the William Reid Apartments in Brooklyn, New York City, the United States, on Jan. 23, 2021.

Altaffer | Reuters

Large stadiums and arenas in New York can reopen with limited capacity from February 23, if approved by the state Department of Health, Governor Andrew Cuomo announced on Wednesday.

Stadiums with 10,000 or more seats are capped at 10% and anyone entering the buildings must present a negative Covid-19 test within 72 hours of the event. Face covering, social distancing and temperature checks on arrival will also be required, Cuomo said.

The first major event already approved by state health officials will take place at New York’s Barclays Center, where the Brooklyn Nets will play the Sacramento Kings on February 23, Cuomo said.

“Any major stadium or arena – hockey, basketball, soccer, soccer, baseball, music shows, performances – can open on February 23,” Cuomo said at a press conference.

Source: New York State

This is the first time since mid-March, when the coronavirus first pierced New York state and overloaded its hospital system, allowing stadiums to reopen to fans across the state. Cuomo said Monday that reopening the state’s economies, including theaters and major venues, through Covid-19 testing “is something where New York wants to lead the way”.

Much of the state’s plan to reopen arenas is based on a pilot program that ran in January that allowed nearly 7,000 football fans to attend the Buffalo Bills home game as long as they presented a negative Covid-19 test. Cuomo called the program “an unprecedented success”.

“This hits the balance of safe reopening,” said Cuomo.

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Health

NY goals to reopen Broadway, massive venues, with Covid testing, Cuomo says

All New York theater performances will be suspended until the end of 2020 due to the coronavirus outbreak. Pictured Broadway theater with shutters.

Photo by Spencer Platt / Getty Images

New York plans to use extensive coronavirus testing to reopen its difficult entertainment options, which have been closed for months during the pandemic, Governor Andrew Cuomo said on Monday.

The coronavirus has crippled the live theater industry, particularly at its central hub in New York City. Broadway has been closed since March 2020 and is not expected to reopen until May 30 this year, according to the Broadway League, a trade organization that represents producers and theater owners.

However, Cuomo said there was hope that New York could allow Broadway, among other entertainment options, to reopen with some restrictions. The state would likely set an audience size limit, require everyone to take a negative Covid-19 test before entering, and require proper ventilation systems in theaters, the governor said.

“Would I go to a play and sit in a playhouse with 150 people? If the 150 people tested and they were all negative, I would,” Cuomo said during a press conference. “I think reopening with testing will be key.”

Cuomo said he couldn’t immediately provide a timetable for major venues to reopen. Much of the state’s plan depends on a pilot program that ran in January that allowed nearly 7,000 football fans to attend the Buffalo Bill’s home games as long as they presented a negative Covid-19 test.

The governor had already announced in late January that New York will allow some wedding ceremony venues to reopen on March 15 with limited capacity. Attendees can hold a wedding if all attendees are tested prior to the event and organizers get approval from their local health department in advance, he said.

“Opening locations with testing is something New York wants to lead the way,” Cuomo said Monday.

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