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Here’s what you need to know
The UK Parliament returns. After an extended Easter break, MPs will use a hybrid system where a limited number of people will be in the chamber while others will connect remotely via the Zoom vide conferencing system. Meanwhile, a Scottish court will hold a virtual hearing for the first time in an appeal case.
Donald Trump wants to temporarily halt immigration to the US. The president claimed he would sign an executive order to protect US jobs in the face of an “Invisible Enemy,” but details are sparse on how the order will be formulated. Meanwhile, the Senate could vote on a $450 billion aid package today that would help small businesses and hospitals hurt by the pandemic.
US oil futures recovered to positive territory. After West Texas Intermediate May oil futures fell deep into the negative as desperate sellers tried to get rid of oil, prices edged back up slightly overnight.
Mixed reports emerged of Kim Jong Un’s health condition. CNN reported, citing an unnamed US official, that the North Korean leader is in grave danger after a surgery, which South Korea refuted. Kim missed his grandfather’s birthday celebration last week, sparking speculation about his health.
South Korea’s April exports plummeted. Outbound shipments for the first 20 days of the month plunged almost 27 percent compared to the same period last year. Its first-quarter GDP numbers will be released on Thursday.
Virgin Australia collapsed. The struggling airline went into administration and is now seeking buyers and investors after the Australian government refused to give it a $1.4 billion loan. Virgin Group CEO Richard Branson has offered his private Caribbean island as collateral in hopes of securing a UK government bailout of Virgin Atlantic.
All 👀 on earnings
First-quarter earnings are down around 15% so far, and a batch of reports are rolling in this week. The Covid-economy’s (likely) survivors—Netflix, Coca-Cola, and Domino’s Pizza among them—will post results, as will companies that have suffered in the stock market, like cruise operator Royal Caribbean and CARES Act recipients American Airlines and Delta Airlines.
We’ll be watching for trends in the words executives use (“headwinds” has been a past favorite), and whether analysts focus more on what execs are saying than the numbers they post, since many of the first-quarter results are sagging and are poised to get even worse in the next three months.
Tracking Jeff Bezos’s billfold
With a model based on delivering groceries and household goods, plus revenue from streaming services, Amazon is perfectly positioned to become indispensable to customers stuck in their homes. So it’s no surprise that founder and CEO Jeff Bezos has seen his wealth grow by $24 billion since the start of lockdowns. Here’s his wealth alongside Warren Buffett and Bill Gates last year:
💰 Buffet: $80.8 billion
💵 Gates: $106 billion
💸 Bezos: $114 billion
Here they are YTD 2020:
💰 Buffett: $74.7 billion
💵 Gates: $104.9 billion
💸 Bezos: $143.1 billion
Anticipated revenue notwithstanding, Amazon is currently worth $1.18 trillion, the third-largest company after Microsoft and Apple.
Key numbers for Quartz members
- $1 billion: Current value of India’s online grocery market, led by companies who were already good at problem-solving.
- 29: Number of countries using mobile phone data to track the spread of Covid-19.
- $10 million: Loan amount that fast food chain Shake Shack returned to the US government after a backlash.
- 40%: Discount you can get on a 1-year Quartz subscription.
Quartz Daily Obsession
Palladium is a stable—yet volatile—element. The precious metal is the key to your car’s catalytic converter, a pollution-preventing device that you probably don’t think about much. It might be chemically stable, but its price is quite volatile, swinging up and down more than 40% just in the past two months. The Quartz Daily Obsession mines for more information.
Surprising discoveries
Austrian architects designed a park for social distancing. Swirling hedgerows would allow visitors to take a stroll without ever crossing paths with another soul.
Captain Tom Moore received more than 25,000 birthday cards. He raised over £27 million ($33.5 million) by completing 100 laps of his garden before his 100th birthday next week.
A farm is renting out its mini donkey to spice up video calls. Mambo, who resides at the Peace N Peas farm in North Carolina, will cost $50 for 10 minutes.
Facebook is banning protest listings that break social distancing rules. Anti-quarantine protests in California, New Jersey, and Nebraska were removed after the company consulted with state governments.
Is it ancient dog or human poop? An AI system developed by researchers will analyze fossilized feces to distinguish between the two.
You asked about food delivery
How safe is it to receive and then handle and consume takeout food?
Great question, Jeff R. There’s no escaping that food ordered for delivery could expose you to the coronavirus. The level of risk is believed to be relatively small, though—and there are three big things you can do to mitigate it. The first is to avoid contact with the courier by asking the food be left at your door. Second, wash your hands immediately after handling the containers. And third, use your own plates and utensils when possible. Bon appétit!
✉️ What’s your burning question?
Our best wishes for a productive day. Please send any news, comments, video call crashers, and socially distanced event listings 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 written by Mary Hui and edited by Isabella Steger.