WHAT YOU NEED TO KNOW
U.S. stock futures are down coming off a three-day winning streak. U.S. weekly jobless claims totaled 1.9M, slightly exceeding the median economist estimate. The 11-week total now sits at 43M. This follows better-than-expected economic data on private sector job trends and optimism surrounding recovery from coronavirus-related shutdowns from Wednesday.
The Senate passed a bill to give small businesses more flexibility in how federal loans given as part of a coronavirus aid program are spent. The bill passed despite Sen. Ron Johnson (R-WI) blocking the democratic effort to approve it, stating he wants the Paycheck Protection Program to expire earlier than initially planned. The bill outlines how businesses would have up to five years instead of two to repay money owed on a loan and they can use a greater percentage toward rent.
Some larger business sectors continue to struggle. In Manhattan, real estate plunged 84% in May as coronavirus devastated New York. The number of new listings also fell 71% as sellers made the decision to keep their properties off the market until the city begins to reopen. AMC Theaters, the U.S.’s largest chain, recently warned of “substantial doubt” regarding its future as the company’s existing debt was exacerbated by the pandemic.
Despite uncertainty surrounding a vaccine, Dr. Anthony Fauci offered an optimistic timeline, stating that hundreds of millions of coronavirus vaccine doses could be ready by 2021. Some companies are expected to begin final trial phases this summer. With more vaccine efforts, the question of data sharing arises and whether countries should share biological samples that could lend to the development of a treatment. The international legal system encourages countries to look at viruses as “sovereign resources that can be bargained and bartered away in exchange for future health goods.”
Testing in the U.S. has slowed with around 70 sites closed due to destruction from protests. In an effort to curb the spread of coronavirus, the Swedish government urged protestors standing in solidarity with the U.S. to take demonstrations online. In Columbus, Ohio, attendees were asked to monitor themselves for symptoms after a person who attended the protests tested positive.
Public health workers have begun reporting hostility, resistance, and in some cases harassment surrounding contact tracing– a term that has been “politicized.” Contact tracing has been plagued by privacy fears since the technology will offer governments personal information like home addresses and names of friends and relations. Fear arises as contact tracing efforts are being ramped up around the country. Nevada is preparing to accelerate its efforts by hiring up to 250 workers and Washington D.C. is expected to hire at last 66,000.
Coronavirus is showing no signs of easing in Brazil as the country sees a record day of COVID-19 deaths at 1,262. The total number of fatalities sits at more than 31,000. India’s coronavirus outbreak is turning into a rural health crisis as migrant workers from large cities return home to smaller towns, bringing the virus with them. In the Chinese city of Wuhan where the virus was first detected, only 300 positive cases were identified after 10M people were tested as part of a 19-day campaign.
Spain announced it will extend its state of emergency through June 21, marking the sixth time the measure has been renewed. With Barcelona free of tourists, locals use the pandemic as a time to “reclaim” their city.
NAVIGATING THE PANDEMIC
Here’s what’s happened to the $3 trillion in federal coronavirus relief – CNN – 6/4/2020
In March, Congress authorized trillions of dollars in spending to help address the economic crisis caused by the coronavirus pandemic — much of it aimed at getting cash into people’s hands immediately to help them pay their bills and buy groceries. It called for sending direct payments to most Americans and expanded unemployment benefits, and included emergency grant and loan programs for small business owners as well as tax cuts, loans and other subsidies. Yet only about half of the economic support authorized by legislation since early March has gone out the door, according to the Committee for a Responsible Federal Budget, a think tank tracking the spending.
56% Of Employers Have Stronger Cultures Of Learning Than Before Covid-19: How PayPal, Kellogg And Verizon Are Embracing L&D – Forbes – 6/4/2020
As the coronavirus pandemic has forced businesses across the country to change the way they work, many employers have sought to support their workforces through investments in learning and development, or L&D. According to LinkedIn’s “Leading with Learning” report, released on Monday, 56% of L&D leaders believe that their companies have stronger cultures of learning now than before Covid-19.
Coronavirus and the Flu: A Looming Double Threat – Scientific American – 6/4/2020
But a few things are clear: The virus that causes the disease is likely to continue circulating through the population until there is a vaccine. And flu season is only a few months away. The overlap of COVID-19 and influenza has epidemiologists and some policy makers concerned. The U.S. may soon face two epidemics at the same time, they worry, and this combination could precipitate a crisis unlike any other.
Will Covid-19 Change How We Book Flights? Airlines Hope So – Wall Street Journal – 6/4/2020
If you use price-comparison websites to book flights, you are part of an irritating minority for airlines. They are hoping the pandemic will make you kick the habit. […] While most governments around the world have forced airlines to offer full refunds to buyers of canceled flights, many buyers have struggled to get their money back—particularly those who booked via a third party.
Will air-conditioning help spread the coronavirus? – Fast Company – 6/4/2020
Across the country, as COVID-19 deaths begin to slow and cities and states start opening up businesses, people are forced to try to answer questions about how likely transmission will be in places such as restaurants, barbershops, and offices. And now that Memorial Day and the unofficial start of summer is behind us, the question comes with an added complication: Will being in a space with the AC blasting put you more at risk for contracting the virus?
WHAT INFLUENCERS ARE SAYING
To view each social media post, click on the date link within the post.
Independent US @IndyUSA 4 Jun George Floyd tested positive for coronavirus before his death, autopsy shows
Rebecca Ballhaus @rebeccaballhaus 4 Jun “As police across the country use such chemical agents to quell protests and rioting, they also are triggering those major vectors for the spread of coronavirus.”
Scott Fox @ScottFoxonair 4 Jun I know several protests are happening this weekend. Everyone planning to attend those should take note of what happened yesterday in #Kitchener. It was peaceful, powerful and people wore masks when they could not physically distance. #FoxKat915
Larry Elder @larryelder 4 Jun “Where are the nurses denouncing these protests as a ‘slap in the face’? Where are the social media COVID warriors telling us that standing next to a person without a mask is tantamount to homicide? They’re hard to find, nowadays.”
Abraar Karan @AbraarKaran 3 Jun THREAD 1/ If anyone thinks that we as doctors aren’t concerned about #covid19 anymore, you’re wrong. We are. However, attempts to pit the control of #covid19 against the efforts to stop #racism are going to fail. You cannot dichotomize two things that are deeply connected.
Turbine Labs has tracked 58,771 media articles and blogs over the last 24 hours and 1,466,344social media posts over the last 24 hours.