WHAT YOU NEED TO KNOW
U.S. stock futures rose higher, continuing big gains on the week, likely on renewed hopes of economic recovery. The Department of Labor revealed Friday the federal unemployment rate declined to 13.3% in May, down from 14.7% in April. The decline reflects the belief that the economy is bottoming out as 30M workers currently collect unemployment benefits. Dow Jones Industrial Average futures rallied more than 700 points following the report.
Two elite medical journals are retracting coronavirus papers, one of which claimed the antimalarial drug Hydroxychloroquine for treatment of coronavirus could cause serious harm. The claim halted trials of one of the drugs by the World Health Organization and others, though the WHO has now resumed its trial. Questions were raised about the research after underlying data was failed to be made available during an independent audit.
Pharmaceutical company AstraZeneca is planning to produce 2B doses of a coronavirus vaccine – dependent on clinical trials taking place in August – to the U.S., U.K., and low- and middle-income countries. The WHO has listed a total of 10 vaccine candidates under clinical evaluation as of June 2, and it is expected the vaccine may entail a two-dose series following a report detailing one dose may not grant full immunity. The Bill and Melinda Gates Foundation announced it is pledging an additional $1.6B to the Gavi vaccine alliance for the next five years, on top of $100M specifically for COVID-19 vaccines to aid low-income countries.
One analysis shows coronavirus cases in the U.S. have been slowly climbing since the Memorial Day holiday, when cases sat at an eight-week low. While the number of cases has cooled down in hotspots like New York, there have been significant spikes in Texas, Oregon, and Arizona in the last week. As Florida reopens its economy, it has also reported a three-day streak of increased coronavirus cases. The state saw 1,419 new cases on Thursday. Despite Georgia being the first state to reopen its economy, its total of daily new cases has remained relatively flat – a contrast to the predicted spike that would overwhelm emergency rooms. However, one epidemiologist expects a jump in cases would not occur until June.
As demonstrators continue to pack into streets across the country protesting the death of George Floyd, officials fear the tight conditions will result in new coronavirus clusters. Recently, there have been growing calls for police to stop the use of tear gas during protests since chemical irritants can cause damage to the body that could increase the severity of COVID-19.
The coronavirus outbreak is spreading to regions previously spared, surging in the Middle East, Africa, Latin America, and South Asia. The increase in cases – which globally, is seeing 100,000 a day – has been concentrated in densely populated, low- and middle-income countries. Despite these numbers, Colombia’s second-largest city, Medellín, has the pandemic relatively under control. The city’s mayor began preparing back in January and locked down its city five days earlier than most of the country. The mayor’s quick response and data gathering efforts are being credited as to how the city has remained in control during the pandemic.
Lower sales due to coronavirus have prompted French winemakers to begin turning unsold wine into hand sanitizing gel and ethanol in order to make room for new production. Winemakers took a hit by the closure of bars and restaurants, and exports to the U.S. halved after the Trump administration introduced punitive 25% tariffs last October.
NAVIGATING THE PANDEMIC
The politics behind how governments control coronavirus data – The Conversation – 6/5/2020
The World Health Organization has confirmed cases in 216 countries and territories, a total that represents more than 85 per cent of 251 entities recognized by the United Nations. Yet each government has responded differently to the coronavirus pandemic — including how data on the disease have been shared with each country’s citizens. The selectiveness with which governments release information about the number of confirmed cases and the deaths caused by the coronavirus suggest techniques of “bio-power” may be at play.
‘You’re not going to get it all right’: IBM CMO Michelle Peluso on managing through a crisis – Digiday – 6/4/2020
Since mid-March, marketers have been retooling their marketing and advertising plans to deal with the fall out of coronavirus. Now, as protests against police brutality continue across the nation, marketers have to once again think about how they are approaching their advertising as well as how they are managing their teams. Digiday spoke with IBM’s senior vp of sales and CMO Michelle Peluso, who recently penned a guide for marketers managing through a crisis, about those topics as well as when she believes advertising spending will return.
How To Be Successful And Happy Despite The World Crashing Down – Forbes – 6/3/2020
We’re in unprecedented times that are volatile and frightening. There are over 40 million Americans out of work, businesses have been ordered to close, people are hurting, but the stock market is racing higher—making some rich people even wealthier. The disconnect is jarring.
Is Covid-19 changing our relationships? – BBC – 6/5/2020
Both in China, which was the first country in the world to go into full lockdown when the virus emerged there, and in Hong Kong – where schools closed, shops were shuttered, and employees sent home – the virus has been brought under control and life has returned to some semblance of normality. But the pandemic has left some cracks in family relationships.
The Facebook Groups Where People Pretend the Pandemic Isn’t Happening – The Atlantic – 6/4/2020
Losing track of a friend in a packed bar or screaming to be heard over a live band is not something that’s happening much in the real world at the moment, but it happens all the time in the 2,100-person Facebook group “a group where we all pretend we’re in the same venue.” So does losing shoes and Juul pods, and shouting matches over which bands are the saddest, and therefore the greatest. Even the awkwardness of daily life is re-created in the virtual music venue, through posts such as “holds an empty cup the whole show because I don’t know what else to do with my hands” and the riffing comments beneath them.
WHAT INFLUENCERS ARE SAYING
To view each social media post, click on the date link within the post.
Policy Center for the New South @PolicyCenterNS 5 Jun What is the Impact of #Coronavirus on the #Environment? For Horst Melcher, President, @deutschetelekom, the #COVIDー19 crisis “replaced the long-term #ClimateChange agenda w/ a short-term public #health pandemic agenda as the foremost global urgency”
Dr ANBUMANI RAMADOSS @draramadoss 4 Jun #WorldEnvironmentDay urges us to rethink how our economic systems have evolved & the impact they have on the environment. These are issues the world cannot lose sight of even as we tackle the #coronavirus pandemic & #ClimateCrisis #AnbumaniForClimateAction #WithdrawDraftEIA2020
UNCDF @UNCDF 5 Jun Nature is sending us a clear message with #COVID19: we can’t continue on the unsustainable path we’re on. See how we’re working with governments to #BuildBackGreener for people and planet. This #WorldEnvironmentDay, it’s time #ForNature.
The Labour Party @UKLabour 5 Jun Today we face crises impacting our health, our climate and our economy. But together, we can rebuild in a way that protects people and nature. #WorldEnviromentDay
Nathalie Nahai @NathalieNahai 5 Jun “Our economies, livelihoods and wellbeing all rely on nature, from the food we eat, to controlling our climate, regulating disease and providing spiritual fulfilment. Without nature, there would be no life.”
CORRECTION: In yesterday’s briefing, an insight incorrectly stated that Washington, D.C. is expected to hire at least 66,000 local contact tracers. This is the anticipated national total.
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