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What to watch for today
The European Central Bank meets. The ECB is under pressure to follow the Bank of England and the Fed by cutting interest rates. ECB chief Christine Lagarde said coronavirus could cause a repeat of the 2008 financial crisis, and that whatever stimulus the ECB offers will have to be coupled with government spending.
The UK escalates its response. Following an emergency Cobra committee meeting, prime minister Boris Johnson is expected to announce a shift in tactics to focus on delaying the spread of Covid-19, rather than containing or mitigating it.
The Olympic flame is lit in Greece. Due to coronavirus precautions, only about 100 members of the International Olympic Committee and Tokyo 2020 organizers are allowed to watch. It is still not clear if the games can go ahead.
While you were sleeping
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The US blocked travel from Europe… In an address full of errors delivered on Wednesday, Donald Trump said the US is blocking “all travel from Europe.” It’s actually blocking travel from the 26 Schengen countries, which excludes the UK, Ireland, and others. Donald Trump also said the ban applies to cargo, but later corrected himself on Twitter, saying that trade isn’t affected.
…and investors responded terribly. After the address, Dow futures fell 1,000 points and S&P futures fell 4%. The rout continued Thursday with key Asia and Europe indices down.
The new travel ban won’t help a Hollywood couple. Tom Hanks and Rita Wilson tested positive for Covid-19, while the NBA shut down after a Utah Jazz player contracted the virus.
The number of cases in Hubei reached single digits for the first time. China registered eight new infections in the province where the coronavirus pandemic started, a sign that the country’s strong response is working. Authorities are lifting some travel restrictions and allowing some industries to start production again.
For the third time in a week, Italy toughened its containment measures. Only essential services like supermarkets and pharmacies, as well as banks, postal offices, and public transport can remain open, the government said. Significantly, delivery services are not covered by the new ban and couriers will continue to work.
Morgan Stanley said Tesla sales in Europe will fall 10% due to coronavirus. The US electric carmaker is now expected to deliver 452,000 cars this year, down from a previous estimate of 500,000. The end of incentives like tax exemptions in Norway and the Netherlands is also contributing to the drop.
Quartz membership
AI ethicists are in high demand. They’re asking them to think about everything from bias and fairness to the circumstances under which it is acceptable to use autonomous weapons. But are they making any difference? Quartz contributor Helen Edwards talks to the people trying to de-bias AI—and their critics.
Quartz daily obsession
Hand sanitizer is all the rage today. The current global coronavirus pandemic caused a 1,400% increase in demand from December to January. But it’s been around since the early 1800s, despite the argument that soap and water is better. Grab a dollop and get the nitty gritty details in the Quartz Daily Obsession.
Matters of debate
Working from home with your partner can… work. Establish your zones, preserve your breaks, be generous, and you’ll be fine.
Sporting events are disappearing. There haven’t been this many cancellations since the second world war.
Don’t ask your employees if they have Covid-19. This is among other tips from HR professionals as the workplace changes.
Surprising discoveries
Scientists have discovered “the smallest dinosaur.” The fossil is trapped in amber.
You can see the coronavirus impact from space. Satellites are picking up on the change in industrial activity.
Robots are disinfecting Hong Kong subway trains. They don’t come cheap, though.
The Spanish flu taught us everything about social distancing. That is, if we’re prepared to learn from past mistakes.
Swipe to buy a new face. Chinese cosmetic surgery apps are becoming popular.
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