6 Minutes or Less
Today I’m introducing a new newsletter only feature that, as I refine it, will be available only to paid subscribers: I will ask a thought leader or expert to educate/enlighten/explain an issue via audio in 6 Minutes or Less.
Issue: President Trump said states should “seriously consider” reopening public schools before the end of the year. New York today became the latest state to close schools for the year.
Question: What will it take to reopen America’s schools?
Guest: Daniel Domenech, executive director of the American Association of School Administrators, the school superintendents association.
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The World
Publicly traded companies have received more than $1 billion in funds meant for small businesses from the federal government’s economic stimulus package. Nearly 300 public companies have reported receiving money from the fund. (Washington Post)
The House Judiciary Committee is asking Amazon CEO Jeff Bezos to testify. Top committee Democrats accused Amazon of potentially lying to Congress over its private label strategy. (CNBC)
The Office of the Director of National Intelligence said U.S. intelligence agencies concur with the broad scientific consensus that “the Covid-19 virus was not manmade or genetically modified” in a Wuhan lab. (Wall Street Journal)
President Trump and aides discussed stripping China of its “sovereign immunity,” aiming to enable the U.S. government or victims to sue China for damages. Administration officials also discussed having the U.S. cancel part of its debt obligations to China. (Washington Post)
Armed demonstrators protested Michigan's state of emergency, some entering the Capitol building. Meanwhile, Gov. Whitmer ordered Michigan theaters, bars to remain closed until May 28. (Detroit Free Press)
Canadian Prime Minister Justin Trudeau banned a range of assault-style guns, with an order that takes effect immediately. (The Globe and Mail)
The Capitol physician says Senate lacks capacity to test all senators. The U.S. Senate returns Monday. (Politico)
Shell CEO says the pandemic may change the oil business forever, oil demand and prices probably won’t recover in the “medium term.” (Bloomberg)
American, Delta and United Airlines said they will require passengers to cover their faces during flights. Meanwhile, Heathrow expects passenger numbers to have plunged 97 per cent in April. (Associated Press, Financial Times)
Venezuela is raiding its gold vaults and handing tons of bars -- equal to about $500 million -- to its long-time ally Iran. The two nations are working more closely together as they try to withstand U.S. sanctions and the oil price collapse. (Bloomberg)
The coronavirus pandemic is likely to last as long as two years and won’t be controlled until about two-thirds of the world’s population is immune. Because of its ability to spread from people who don’t appear to be ill, the virus may be harder to control than influenza. (Bloomberg, CIDRAP)
New York's schools and colleges will stay closed through the rest of the academic year. No decision has been made on the fall, because, Gov. Andrew Cuomo said, "the fall is a long way away.” (NBC New York)
Economy
Major restaurant suppliers say the industry is getting ready to resume more normal operations, based on orders for deep-fryer oil and chicken. (Wall Street Journal)
Some 2,000 Nissans SUV sit parked at sea on a cargo ship the length of almost two football fields, revealing the scope of U.S. auto market glut. (Bloomberg)
Investment banks globally raked in record fee income from managing corporate bond issues in the year’s first four months as companies scrambled to raise money. (Reuters)
Sheila Bair, a lifelong Republican who backed Elizabeth Warren’s presidential run, has emerged as a top candidate to chair the new Congressional Oversight Commission watchdog group, created by the $2.2 trillion CARES Act. (Vice)
J. Crew is preparing for a bankruptcy filing that could come this weekend. (CNBC)
From Axios:
Technology
China’s 1Q20 smartphone shipments fell 18% year on year in the world’s largest market. (Canalys)
Tesla shares tank after Elon Musk tweets the stock price is ‘too high.’ (CNBC)
A Google Health study —the first to look at the impact of a deep-learning tool in real clinical settings—reveals that even the most accurate AI systems can make things worse if not tailored to the clinical environments in which they will work. (Google)
Mass surveillance to fight covid-19 doesn’t have to be creepy. Also, what’s the best mask for fooling face recognition? (MIT Technology Review, Towards Data Science)
Smart Links
Plastics pile up as coronavirus hits Asia recyclers. (Nikkei Asian Review)
The humbling of Exxon. (Bloomberg Businessweek)
How will COVID-19 affect the Transatlantic relationship? (Harvard Kennedy School)
Parents hire Zoom babysitters. (Washington Post)
Little League World Series canceled for first time. (Associated Press)
The office cubicle is making a comeback. (Wired)
Astronomers capture rare images of planet-forming disks around stars. (Université Grenoble Alpes)
The $5,000 Zoom fundraiser is now a thing. (Politico)
Good News
US now in puppy love. Labs still tops, but corgis rise. (Associated Press)
Mattel’s new action figures honor ‘everyday heroes’ on the coronavirus front lines. (New York Post)
When Florida utility worker Albert Jones learned it was 94-year-old Barbara’s birthday, he stopped what he was doing to sing “Happy Birthday.” (NBC News)
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Introducing '6 Minutes or Less'