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Correction: Yesterday, we said a gathering in Hong Kong was broken up by police violence. The gathering was in protest of the incident, which took place several months before.
Here’s what you need to know
Oil rallied on hopes for a better future. Crude made its biggest-ever one-day percentage price increase after US president Donald Trump claimed that Russia and Saudi Arabia would make output cuts. The Kremlin responded swiftly, saying that they had not yet talked with the Saudis—who later called for an emergency OPEC meeting.
The United States saw another record-breaking week of jobless claims. 6.6 million Americans newly applied for unemployment benefits, doubling the historic 3.3 million applications recorded the previous week. The official US unemployment rate will be updated later today.
China sees the other side of the curve. The country’s top respiratory expert, Zhong Nanshan, estimated that China’s outbreak will resolve by the end of April. However, concerns remain about coming food shortages with stores selling out of products after an alleged government letter suggested people stock up for 3-6 months circulated.
The world reached one million confirmed coronavirus cases. 742,000 of those cases remain active, while 209,000 patients have recovered. John Hopkins University data also recorded 50,000 global fatalities due to Covid-19.
Luckin Coffee fell into some hot water. Shares of the Chinese Starbucks rival sunk by as much as 80% after an investigation found that its COO inflated sales in 2019. Luckin said it suspended Jian Liu and employees who reported to him.
Boeing and British Airways shed workers. The US aircraft manufacturer is expected to offer early retirement and buyout packages to its workforce, while the UK flag carrier will suspend 36,000 workers.
Virgin Orbit announced plans for its first Asian spaceport in Japan. The space company and Oita Prefecture hope to develop Oita airport into a site for launching and landing its space missions by as early as 2022.
Google said it will shut down its Neighbourly app after trials in India. A beta version of the app—where users answered other neighbors’ questions about the local community—tested in Mumbai and other Indian cities but failed to meet growth expectations.
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The coronavirus pandemic is reshaping education… With 1.5 billion students out of school and hundreds of millions attempting to learn solely online, the biggest educational technology experiment in history is reshaping schools, the idea of education, and what learning looks like in the 21st century.
…and leaving an indelible mark on our workplaces. What downstream effects will this crisis have on corporate culture, or creativity, or personal wellbeing? Quartz talked to CEOs, consultants, and other workforce authorities about what we stand to gain and lose from the changes wrought by the coronavirus crisis—and what’s impossible to predict.
Quartz daily obsession
From hiccup to chain reaction to total collapse. Cascading failure is not a new phenomenon, but it’s a relatively recent term, and the complexity of modern life has multiplied its real-life scenarios in the fields of technology, biology, and finance. The easiest way to think about cascading failure is as a line of tumbling dominoes—or the plot of Jurassic Park, a blockbuster about how the smallest of errors can lead to total catastrophe. The Quartz Daily Obsession will sort it all out.
Matter of debate
Are people who run to the hills during a pandemic behaving unethically? Some have gone to their second homes or to visit family in remote locations. Others have paid thousands for short-term rentals. Meanwhile, we’re all being told to stay put. What would you do?
Surprising discoveries
Toilet paper is a 2-ply market. Shortages of bathroom tissue have less to do with hoarding and more to do with modern supply chains.
You’re not the only one who can’t get a Nintendo Switch. The console is sold out and Nintendo’s supply chain can’t meet demand—but the Switch Lite is still available.
The signs they are a-changing. If you had suddenly woke up from a months-long slumber, these signs would probably not make much sense.
Earth is moving less, thanks to coronavirus. Researchers say there is less observable seismic noise or vibrations caused by human activity.
Marie Kondo has tips for life under lockdown. The minimalism guru is using her experience of being stuck at home during the 2011 earthquake in Japan.
Scientists find evidence of forests in Antarctica. Seabed samples that are 90 million years old show signs of forest soil, pollen, root systems, and spores.
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