The Presidential Daily Brief

Important

  1. US Floats Stimulus as EU Seals Borders

    As COVID-19 deaths in the U.S. break the triple-digit mark, the White House is considering plans for a $1 trillion aid package that would reportedly include sending checks to each American. Meanwhile, the European Union is banning most travelers for 30 days — further shaking its founding principle of free movement, which was already jeopardized by several countries' recent border controls.

    What have we learned about the virus? A new study suggests it could linger in the air for 30 minutes if it's trapped in tiny aerosols smaller than five micrometers.

    Read OZY’s Special Briefing about why social distancing won’t tear us apart.

  2. Joe Biden Blasts by Bernie Sanders

    The former vice president extended his delegate lead over the populist senator from Vermont yesterday, cruising to victory in Democratic primaries in Arizona, Florida and Illinois. "I know what we have to do," Biden told supporters in livestreamed comments from his Delaware home. Local surveys suggested voters trusted Biden far more than Sanders to steer the country out of a crisis.

    What's next for Sanders? Despite mounting pressure on the firebrand to drop his candidacy, there are few signs he's ready to do that.

    Don't miss OZY's Donald Dossier on the "bubble campaign."

  3. China Kicks Out American Reporters

    It's news that's fit to print. The diplomatic spat between Beijing and Washington intensified yesterday as Chinese authorities expelled all American journalists from the New York Times, Washington Post and Wall Street Journal. That follows a recent U.S. restriction on the number of Chinese journalists working at U.S.-based state media outlets. Times Editor Dean Baquet called China's decision a "grave mistake."

    Why does it matter? Critics of the tit-for-tat say that now — "when facts and information are a matter of life and death," according to advocacy group PEN America — reliable reporting is more important than ever.

  4. More Market Losses Are Coming

    Despite yesterday's rally, falling U.S. futures hinted at another painful opening on Wall Street Wednesday. Asian and European stocks were also down, suggesting investors still aren't sure government measures can help ease the financial impacts of coronavirus — despite the apparent hopefulness from American traders yesterday.

    What else are investors thinking? Insiders say even long-term traders are beginning to think day-by-day, spooked about holding onto stocks for too long.

    Check out OZY's tips about how to invest in coronavirus, Warren Buffet-style.

  5. Also Important...

    Facebook has blamed a technical glitch for posts including mainstream news articles about coronavirus and other topics being marked as spam. The U.S. slapped new sanctions on Iran yesterday. And actor Jared Leto says he emerged from an isolated 12-day retreat to learn about the severity of coronavirus for the first time.

    Coronavirus Update: With more than 31,500 infections, Italy has around twice as many as Iran, despite having only about 73 percent of the population.

    We heard you! Yesterday we asked: How worried are you about your financial future amid the coronavirus outbreak? OZY reader Yasmin from the Netherlands, who's struggling with lupus, says: "I can’t work to save my life. I get multiple flares a year, and when I do, I can’t do anything for at least 4 weeks." She added: "If I get sick from the coronavirus, what will be of me?"

Intriguing

  1. casino shutterstock 250540954

    Game Over for Sin City's Casinos

    It's a safe bet. As coronavirus forces global closures, Nevada Gov. Steve Sisolak ordered the Silver State's 440 licensed casinos to temporarily shut down, leaving tens of thousands of employees out of luck. Even before Sisolak's announcement, the Bellagio's famous fountains were turned off, partly to prevent large crowds from gathering — though the iconic Welcome to Las Vegas sign and the outdoor Neon Museum are still on.

    What's the gambling industry saying? Insiders agree with Sisolak's order, but they're hoping the federal government will "act swiftly" as Nevada's economic engine grinds to a halt.

  2. wework shutterstock 1198379923

    SoftBank to WeWork: Actually, No Thanks

    Citing the legal mess facing the co-working company, the Japanese conglomerate has reportedly threatened to pull out of its $3 billion purchase of WeWork stock. While it'll still make good on its offer to extend $5 billion in debt, SoftBank's buyback refusal could plunge WeWork — whose value tumbled amid a botched initial public offering last year — into further financial turmoil.

    What's next? While SoftBank likely faces a serious crunch as the global economy contracts, WeWork might fare even worse as quarantines compel employees to stay home.

    Don't miss OZY's original series, Unconventional CEOs.

  3. child abuse shutterstock 692287723

    Why Bisexual Women Face More Domestic Abuse

    According to a recent study by the Center for Victim Research, 35.7 percent of bisexual women were physically or psychologically abused by a partner — compared to 17 percent of straight women and 18 percent of lesbians. Experts believe stereotypes casting bi women as hypersexual are partly to blame, OZY reports, spurring heightened jealousy. Others suggest that men might feel threatened by a partner’s bi identity and lash out with violence.

    How can people help? Creating a sense of collective support is key, since researchers say bisexual women often fall through the cracks of mainstream LGBT communities.

  4. Katy perry shutterstock 109435775

    Katy Perry Prevails in Copyright Suit

    This one's really over. A federal judge has dumped a $2.8 million jury verdict against the pop star, who was sued last year by Christian rapper Flame for allegedly copying a melody in her 2013 hit "Dark Horse." Judge Christina Snyder said the 8-note phrase, allegedly lifted from the song "Joyful Noise," was "not a particularly unique or rare combination."

    What's the bigger picture? After last week's legal victory for Led Zeppelin in a similar case, major labels and big-name acts might begin feeling more secure from such lawsuits.

    Read OZY's feature about why your favorite new artist will be a robot.

  5. Tom Brady

    Is Tom Brady Bound for the Bucs?

    The New England Patriots quarterback stunned the football world yesterday when he announced that he's finally leaving the team after 20 seasons and six Super Bowl rings. But more surprising still is that the 42-year-old, who says he wants to play until he's 45, seems set to become a Tampa Bay Buccaneer. If he does, it might help the squad out of the NFL's second-longest active playoff drought.

    Could they really pull it off? Despite his age, commentators say Brady's ironclad will and accurate arm could be the perfect match for the Bucs' league-leading receiver duo and solid managing staff.