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Here’s what you need to know
The EU hosts a vaccine donors’ conference. European Commission president Ursula von der Leyen hopes the initiative can raise €7.5 billion ($8.2 billion) to fund research on a vaccine and treatments for Covid-19.
Italy eases out of its lockdown. People will be allowed to leave their homes more freely, parks and the Rome and Florence airports will re-open, and some 4.5 million people will return to work. Other countries will also ease their lockdowns, including Germany, Portugal, and Nigeria. Meanwhile, Japan is expected to extend its state of emergency through May 31, even as it releases guidelines to relax some social distancing rules.
Israel’s top court discussed the fate of Benjamin Netanyahu. Justices convened yesterday to assess petitions seeking to bar the prime minister from forming a government because he is under criminal indictment on corruption charges, with a decision expected this week. A ruling against Netanyahu could return the country to political deadlock.
Silver Lake is set to invest $750 million in Jio Platforms. The private equity firm’s planned investment would value the Indian telecommunications and technology giant at $65 billion. It comes shortly after Facebook said it would pay $5.7 billion for a stake in Jio.
Warren Buffett dumped all his US airline stocks. The investor said during his company’s annual meeting that the “world has changed” for the aviation industry due to the pandemic. Meanwhile, Dow futures fell over 100 points overnight amid uncertainties about economies re-opening and growing US-China tensions.
North Korea and South Korea exchanged gunfire. Bullets from the North hit a guard post in the South, where soldiers returned warning shots. The unusual incident followed US president Donald Trump hailing the return and apparent good health of Kim Jong Un.
The Wuhan lab is back in focus. US secretary of state Mike Pompeo claimed yesterday there’s “enormous evidence” the new coronavirus emerged from a virology lab in the Chinese city. China mocked that theory and the US coronavirus response with an animated video.
What to watch for this week
- Ford re-opens its main European car factories in Germany, Spain, and Romania.
- New Zealand prime minister Jacinda Ardern joins Australia’s national cabinet meeting tomorrow to discuss responses to Covid-19, including the proposed “travel bubble.”
- Germany’s top civil court begins hearings tomorrow in the Volkswagen “dieselgate” compensation case.
- Three key democracy activists appear in a Hong Kong court tomorrow, charged with illegal assembly.
- Nintendo reports earnings Thursday. Its Animal Crossing: New Horizons has been the hit of the pandemic.
- China releases April trade data Thursday. Exports sank 6.6% in March from a year earlier.
Charting the descent of big planes
It used to be that wide-body jets like the Boeing 747 were just about the only option for long-haul flights. In recent years, however, airlines have favored narrow-body competitors with vastly improved range and fuel efficiency. With demand for planes and air travel plummeting due the pandemic, Boeing and Airbus have announced plans to slash manufacturing of the bigger jets even more.
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- Just about the entire planet is grappling with what may well be the biggest disruption in trade and commerce since the Great Depression. Policymakers have fought back with trillions of dollars of spending and lending. The result is the largest experiment in economic policy outside of a world war.
- Rich and poor countries aren’t borrowing in the same ways. You can visualize how the explosion in global government debt is playing out in five charts.
- The wave of government spending may benefit big corporations the most—and give them the cash they need to buy up and crowd out smaller competitors. Watchdogs worry monopolies are on the rise in the US economy.
We’re obsessed with bingo
A competitive classic. Once associated with old ladies in church basements, bingo has experienced a bit of a comeback lately. The centuries-old game provides a little jolt of opportunity for a relatively low-stakes investment—and your odds of winning can be quite good. Grab your lucky dauber, it’s the Quartz Daily Obsession.
Surprising discoveries
World-class pole vaulters competed in their gardens. They raced to clear a 5 meter (16 feet) bar as many times as possible in 30 minutes, in a live-streamed event with an audience of 20,000.
A man quarantined himself on a shuttered Disney World island. He’s since been arrested for trespassing on the private property in Florida.
Koalas lick trees when they’re thirsty. The animals can lap up rain water during a storm, instead of just relying on moisture in eucalyptus leaves.
A thief stole two airplanes with a signature and a couple of stamps. The fraudster forged paperwork transferring the private jets to his name, then tried selling them to unwitting buyers.
“Murder hornets” are invading the US. The bellicose bugs, native to Asia, have a sting that can kill a human and jaws that can decapitate 30,000 honey bees in a few hours.
Our best wishes for a productive day. Please send any news, comments, koala facts, and crash mats 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.