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Here’s what you need to know
Civil rights groups sued Donald Trump. The American Civil Liberties Union alleges that the president, attorney general William Barr, and other officials violated the rights of peaceful protesters who were tear gassed to clear a path for Trump. Meanwhile, a memorial was held for George Floyd, whose death at the hands of four police officers sparked nationwide protests.
Sweden’s former ambassador to China goes on trial. Anna Lindstedt is accused of brokering an unauthorized meeting to negotiate the release of Chinese-Swedish dissident Gui Minhai, who is currently serving a 10-year sentence in China on charges of illegally providing intelligence abroad.
Australia tightens its foreign investment laws. Amid fears of opportunistic takeovers as the pandemic batters share prices, the new rules will ramp up screening of deals in sensitive sectors. Separately, the state of New South Wales has lodged a legal challenge in a bid to stop a Black Lives Matter protest tomorrow over coronavirus fears.
Singapore’s bank deposit inflows jumped. Money from non-residents flowed into the city-state’s bank accounts at a record rate as political uncertainty riles Hong Kong.
US unemployment is set to near 20%. Jobs data to be released today is expected to show another 8 million Americans lost their jobs last month, on top of April’s 20.5 million. Economists predict that this will be the last negative monthly jobs report, as employers being to hire again.
Maintaining perspective on vaccine trials
How likely are Covid-19 vaccines to succeed? Check the SEC filings. Publicly traded US companies are required to submit paperwork to the Securities and Exchange Commission whenever something exceedingly positive—or negative—happens within the company. While the purpose of these risk assessments is to avoid getting sued by shareholders, everyone would do well to heed these words of caution.
Here are just some of the risks pharma companies have laid out in recent filings:
- Moderna warned that the US Food and Drug Administration has never approved a product using the technology its vaccine is based on, and no one knows yet if it’s safe.
- Novavax similarly noted that the ingredients in its vaccine might be “ineffective or unsafe,” and even if they are it might not be possible to manufacture them at scale.
- Inovio said its planned timeline for production could change (pdf) if it can’t find enough contractors to manufacture the vaccine.
Charting US unemployment rates by race
Even before Covid-19, black Americans were more likely to be unemployed than whites. In Minneapolis, for example, unemployment between 2000 and 2018 rose from 6.8% to 8%, while it dropped from 2.5% to 1.9% among whites. In many other US cities where protests have erupted in recent days, the pre-pandemic racial gap in unemployment is striking:
Now, with the backdrop of a pandemic during which one in four US workers has filed for unemployment, black people continue to face a harsher reality in the job market. In April, the unemployment rate for white Americans stood at 14.2%; for black Americans, it was 16.7%.
For Quartz members: An impending crisis for African startups
If you look at reports tracking funding in African tech ecosystems this year, you wouldn’t be able to tell that a damaging pandemic has laid siege to the global economy.
After a decade characterized by rapid growth, several startups on the continent now face their first major crisis. A slowdown in funding is imminent, and investors are expected to shift their focus to businesses tackling basic problems, like health care and food. Read more in this week’s field guide on Africa after Covid-19.
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You asked about reopening universities
How are colleges and universities dealing with potentially opening in September? If they’re opening, how will they protect students, faculty, and staff from infection? —Nancy
Institutions of higher learning around the world are handling reopening pretty differently. Chinese universities in Beijing and even hard-hit Wuhan will allow at least some students to come back within the next few days, provided they meet conditions like testing negative for Covid-19 or passing an antibody test. Some schools in the United Kingdom will house students studying the same subjects together to limit the number of people each comes into contact with.
In the US, the Centers for Disease Control and Prevention issued guidelines for safely reopening colleges that include recommendations on cleaning and sanitation, mask wearing, and limiting the number of people allowed in shared spaces. University officials who testified at a Senate hearing on the subject yesterday said more testing and contact tracing is needed, even as some have already begun planning for students’ return.
While California State University schools have said most classes will be held online in the fall (although football might still happen), many colleges desperately need the money that on-campus students provide. Of course, whether students can afford to continue their studies is another question entirely.
✉️ Do you have a burning question about how coronavirus is changing the world?
Surprising discoveries
A fundraiser on Zoom netted $4 million for Joe Biden. The event carried a minimum ticket price of $100,000.
Singapore wants to be a leader in faux seafood. But right now, a vegan shrimp dumpling would cost about $100.
Libraries are publishing quaranzines. The zines are a space for individual community members to share their quarantine experiences.
Signal has a ready-built tool to blur faces in photos. The company’s founder gave a nod to streets protests worldwide and said “2020 is a pretty good year to cover your face.”
This cellphone has a rotary dial. A some-assembly-required starter kit is now available, or hold out for the ready-build device.
Our best wishes for a productive day. Please send any news, comments, faux shrimp, and blurry faces 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.