| Need to Know |
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| 'A Very Painful' Two Weeks |
Health officials in the US reported more than 700 new fatalities linked to the coronavirus yesterday, totaling 4,081 deaths out of 189,633 total confirmed cases. The numbers push the US past the death toll in China (3,309 deaths), where the outbreak first emerged, but behind Spain (8,269 deaths) and Italy (12,428 deaths). The US lags roughly two weeks behind the two European countries in terms of outbreak timeline; President Trump warned of a "very painful" next two weeks at yesterday's coronavirus briefing.
Spaces across the US are being converted into temporary hospitals to deal with anticipated patient overflow, both from coronavirus patients and regular cases displaced by the pandemic (see photos of similar efforts across the world).
US markets dropped yesterday, with the Dow Jones Industrial Average falling 410 points (-1.8%) and the S&P 500 (-1.6%) and Nasdaq (-1.0%) following suit. The slide was modest relative to the volatile past month of trading, but capped off the worst first quarter in the history of the Dow and S&P 500, which fell 23% and 20%, respectively.
Goldman Sachs projected unemployment to peak at 15%, with a whopping 34% drop in second quarter GDP, but also foresaw the fastest recovery in US history.
The White House released projections showing anywhere from 100,000-240,000 deaths, assuming social distancing regulations stay in place. A separate model from the Institute for Health Metrics and Evaluation (posted yesterday on our resource page) shows the number of new daily cases peaking around April 15, with a total US death toll landing anywhere from 40,000-140,000. Forecasters warn all models are dynamic and subject to change.
A link to nine must-see charts on how the pandemic is impacting the economy has been posted to the 1440 coronavirus resource page. We've also posted a link to a visual breakdown of the massive $2T stimulus package and a video overview on how respiratory ventilators work.
If you haven't checked out our expert-curated resource page, you can find it here. It will be updated frequently, so check back often and share with friends and family. |
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| FISA Failures |
Widespread errors exist in the FBI process used to ensure applications for secret surveillance warrants are accurate, according to findings released yesterday. The probe, led by the Justice Department's Inspector General Michael Horowitz, evaluated more than two dozen applications to surveil US citizens or green card holders made under the 1978 Foreign Intelligence Surveillance Act. Such warrants have at times been viewed as controversial due to concerns they violate the Fourth Amendment, and as such require additional oversight (how FISA works). Investigators, however, found the applications failed to live up to the stringent policies, averaging 20 errors per application and in four cases the supporting documentation had been lost entirely. The broader probe was spurred by a previous look into the FBI's surveillance of Trump campaign aide Carter Page, in which Horowitz's team found multiple issues.
Read the findings here. |
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| Royals No Longer |
The break between Buckingham Palace and Prince Harry and wife Meghan Markle became official yesterday, nearly three months after the pair's bombshell announcement they would step back as senior members of the British Royal Family. The couple announced in January they would cease official duties on behalf of Buckingham Palace, choosing instead to become financially independent while pursuing their own ventures. While the decision shocked fans (and reportedly the Royal Family), the two had been candid about the stress of public scrutiny, harshly criticizing British tabloids for relentless coverage of Meghan and their son Archie. The pair are currently worth an estimated $30M but experts believe the value of their brand, Sussex Royal, could eventually reach $1B or higher.
The couple have set up shop in an undisclosed location in Los Angeles. |
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| Former Under Armour execs are making your new favorite jeans. |
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If you work for a performance athletic brand, you work with some pretty amazing materials. Materials that stretch, breathe, and move with you. As in, materials that aren't denim.
So when a few Under Armour execs left to blaze their own trail, they started by addressing the biggest shortfall of denim, and jeans in general: movement. In Revtown’s book, three things make great jeans: comfort, function, and durability. That’s why their Decade Denim jeans are made with proprietary, Italian denim that’s tough as nails, but still mobile. Revtown jeans are designed to keep you on the move, whether it’s from the office to the bar, or right back to the couch. No tight thighs, no bum-sweats, and absolutely no crotch-binding.
Because Revtown deals directly with its customers, they can sell their designer-quality jeans at a fraction of the price of other fashion brands. So check out Revtown today for denim made right.
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| In the Know |
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| Sports, Entertainment, & Culture |
| > US home video streaming in March up 85% compared to 2019 (More) | Videoconferencing apps topped 62 million downloads from March 14-21 (More) |
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| > NFL owners vote to expand playoffs from 12 to 14 teams beginning in the 2020-21 season; see how the new system will work (More) |
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| > CNN anchor Chris Cuomo, brother of NY governor Andrew Cuomo, tests positive for the coronavirus (More) | Charity concert led by Elton John raises $8M for pandemic relief efforts (More) |
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| Science & Technology |
| > Coronavirus lockdowns have dramatically reduced seismic noise from human-related activity, allowing geoscientists a window to study small earthquakes, volcanic activity, and more (More) |
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| > Department of Transportation officially rolls back Obama-era fuel economy standards, dropping a requirement for annual increases in vehicle fuel efficiency from 5% to 1.5% (More) |
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| > Nobel-winning physicist Philip Anderson, known for theorizing "Anderson localization," dies at age 96 (More) |
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| Business & Markets |
| > Whole Foods employees stage sickout work stoppage amid working conditions; former Amazon employee terminated for organizing walkout considers legal action (More) | Walmart to take employees’ temperatures upon arrival of shift, to be sent home or to medical care if employees have fevers of 100 degrees or higher (More) |
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| > National gas prices plunge to below $2 per gallon for first time in four years (More) |
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| > Xerox drops $34B hostile takeover bid of fellow tech giant HP (More) |
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| Politics & World Affairs |
| > European Union officials criticize Hungary's emergency measure that allows Prime Minister Viktor Orbán to rule by decree with no clear time limit over coronavirus fears (More) |
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| > President Trump backs $2T infrastructure bill as a possible phase four economic stimulus package; House Democrats have also eyed infrastructure bill to boost jobs (More) |
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| > A 6.5 magnitude earthquake hits Idaho along previously unmapped fault line, no injuries reported; quake of this size occurs in the region once every 30-40 years (More) |
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| Comfort is key, style is essential. |
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Style and comfort are a must when working from the home office.
The style of Revtown's premium denim keeps you sharp for video conferences, but no one has to know you're enjoying the soft, ridiculous comfort equal to your favorite sweats or leggings. Head on over to Revtown today for the perfect balance while working from home. |
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"If you cannot find peace within yourself, you will never find it anywhere else."
- Marvin Gaye |
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