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What to watch for today
Donald Trump urges Congress to pass his aid package. The US president is pitching measures that could cost $1 trillion—more than the $700 billion spent in 2008, and the $800 billion in 2009. Congress will first vote on a package containing sick pay and free testing, then discuss the financial aid.
The New York mayor considers a lockdown. Bill de Blasio might order 8.5 million people to stay at home, leaving only for essentials, as the virus reaches all 50 US states. Similar lockdowns have been applied in entire countries.
France presents its financial aid package. The government is expected to announce €8.5 billion in pay for workers and delay tax collection at a cost of €32 billion, among other measures. This follows even larger packages elsewhere—Spain’s is worth 20% of its GDP, the UK’s 15%.
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Olympic organizers said “no solution will be ideal.” They are still hoping that the Tokyo games go ahead, but responded to accusations that they are putting athletes “in danger”. The world’s biggest multi-sport event is scheduled to begin on July 24.
European stocks fell across all sectors—except one. Almost everything dropped in Europe this morning, with travel firms faring the worst. An index reflecting 600 European stocks fell 3%. The telecom sector was the only one that didn’t recede, as people in lockdown caused data and voice traffic to spike across the continent.
California ordered Tesla to shut its Fremont factory. The electric carmaker kept its plant running on Tuesday in defiance of San Francisco’s lockdown measures, with Elon Musk saying he’d personally be at work, but county officials said the company is not exempt and isn’t an essential business.
New research indicated just how contagious coronavirus can be. A study by the National Institute of Allergy and Infectious Diseases in the US says the virus can remain infectious for three hours as droplets in the air, and on plastic surfaces for at least three days.
SoftBank’s stock fell 11% after its WeWork pullback. The market value of the global Japanese conglomerate, famous for its risky bets on tech companies, fell below the market value of its domestic equivalent, after reports claimed SoftBank was withdrawing a bid to buy $3 billion in shares of the troubled office-sharing company.
Joe Biden won three more primaries. Voters in Florida, Illinois, and Arizona chose the former veep to face Donald Trump in the presidential election, increasing the pressure on Bernie Sanders to abandon the race.
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Conception costs. Fertility care provides hopeful parents with a chance of conceiving a child, but it’s mostly limited to the wealthy. We trace the paths to fertility and related costs, and the efforts to make treatment less expensive, in our field guide on the business of fertility.
Conception booms. With much of the world on lockdown, we could be looking at a spike in births… but also break-ups.
Quartz daily obsession
Oh snails, snails, snails. They may be dismissed as slimy, slow, and disease-prone, but the little creepers are also associated with luxury, from snail dye to escargot dishes and facials. Inch into the Quartz Daily Obsession.
Matters of debate
We don’t know the true cost of these bailouts. Governments around the world are preparing major rescue packages.
Testing elite athletes is not a priority. A Spanish soccer chief blasted the top league’s “irresponsible” plans, and said that using resources this way may even be illegal.
For many people, true isolation is impossible. If you live with a vulnerable person, you have to figure out a wayto safely co-exist.
Surprising discoveries
Coronavirus created the world’s longest passenger flight. The service from Tahiti to Paris normally stops in LA, but airport health checks take too long.
Sporting events, concerts, gaming, and… funerals. Yet another experience that may soon be livestreamed.
Chad is repaying a $100 million debt in cattle. The country will send Angola 75,000 cows over 10 years.
South Koreans are saving their potato farmers. Demand crashed because of the outbreak, but people are now buying boxes of spuds online.
Italians are stress eating. Junk food sales are up as boredom sets in.
Our best wishes for a productive day. Please send any news, a huge bailout, and proper Italian food to hi@qz.com. Get the most out of Quartz by downloading our app on iOS or Android and becoming a member. Today’s Daily Brief was brought to you by Luiz Romero and Hasit Shah.