Good morning, Quartz readers!
Here’s what you need to know
The race for a coronavirus vaccine continues. China will run a large-scale “Phase 3” clinical trial in the United Arab Emirates, while the US government’s infectious disease expert, Anthony Fauci, said a vaccine could be available by the end of 2020 or early 2021. That would be welcome news for California, which just notched a single-day record for new cases, and Novak Djokovic, who tested positive after organizing a tennis tournament.
Summer and fall travel looks iffy. The European Union reportedly may not allow Americans in when it reopens borders on July 1, and major cruise companies extended sailing suspensions through September. In better news, restaurants, pubs, and hotels will be allowed to reopen in the UK from July 4, and luggage startup Away raised another $30-$40 million.
The latest round of India-China talks went well. Both sides agreed to cool things down to prevent further escalation of a border dispute that turned deadly last week. Now India can go back to focusing on Pakistan’s alleged spying and China can explain the Hong Kong security law to chief executive Carrie Lam.
Nasdaq slapped Luckin Coffee with a second delisting notice. The US stock exchange faulted the beleaguered Chinese coffee chain for failing to file its annual report. Luckin received the first notice in May after it was revealed its COO had cooked the books.
Didi Chuxing set an ambitious goal for autonomous taxis. The ride-hailing company aims to have more than 1 million self-driving vehicles on its platform by 2030—taxis that may eschew GPS in favor of China’s Beidou Navigation Satellite System, whose final satellite just entered orbit. And the software that could power Mercedes-Benz’s future autonomous fleet will be upgradeable starting in 2024, thanks to a partnership with Nvidia.
What’s up with new US visa rules?
Monday’s decision by US president Donald Trump to stop foreign talent from entering the country for the remainder of the year put many students and workers in a tough spot. Here’s how we’re covering the situation:
Who’s in and who’s out? Unless you’re a professor, a researcher, or already in the country—the new visa ban will likely apply. Here’s a more detailed breakdown of the order.
Who does this benefit? More than 80% of experts from top universities doubt official claims that the move would free up over half a million jobs for Americans (✦ Quartz member exclusive).
Who can help? Software engineer-turned-startup investor Anu Hariharan has some advice for the 202,000 Indian students in the US who are looking for new options (✦).
Charting the retail trading boom
While it’s easier than ever for regular people to buy stocks, they might be surprised to find out that their trades don’t necessarily end up on a stock exchange—at least, not right away. Instead, brokerages like Charles Schwab and Robinhood typically sell their orders to high frequency traders—also known as market makers.
Robinhood, for example, was paid about $45 million in March, more than twice what it got in January, for selling customer orders to professional trading companies like Citadel Securities.
For Members: Fossil fuels might never recover from Covid-19
Coronavirus presents an existential crisis for the oil and gas industry. In this week’s member-exclusive field guide, we look at what it will take for fossil fuel companies to survive. Here’s how it all comes together:
1️⃣ The coronavirus crisis has set off one of the most devastating downturns in the fossil fuel industry’s 150-year history.
2️⃣ It has highlighted the downside of countries staking their fortunes on the spending power of oil companies.
3️⃣ And widened a trans-Atlantic divide about where the profits of the future will be made.
4️⃣ If there is a future for the industry, it’s in accelerating the energy transition.
5️⃣ The demands of today’s young talent may leave oil companies no choice but to diversify.
✦ To enjoy all the articles, presentations, field guides, and workshops available to members, try it out with a seven-day free trial. ✦
You asked about getting coronavirus twice
After having recovered from Covid-19, can I have the symptoms again? – Héctor
Thanks for writing in, Héctor. While certain symptoms can be shared with a number of other diseases such as pneumonia or influenza, actually contracting Covid-19 twice within a matter of months is more complicated.
Earlier this year in South Korea and China, a number of patients who appeared to be cleared of a Covid-19 infection tested positive for a second time. One explanation could simply be that people can be reinfected. But experts say it seems unlikely that this is the cause of the new positive results.
Another possibility is that the amount of virus in the patients’ bodies dipped, then spiked again. And yet another option could be that a patient is infected with a different strain of the coronavirus. It’s still hard to know what exactly is going on.
Surprising discoveries
Acer is making an energy drink. The electronics maker’s Predator Shot appears to be geared to gamers.
Astronomers detected a black hole’s collision with…something. But after poring over the data, they’re still not sure what it was.
Americans are drinking less during quarantine. Globally, alcohol consumption probably won’t return to pre-pandemic levels until 2024.
Segway was still making its two-wheeled scooters. But that ended today with only about 140,000 units ever sold.
There’s a good buzz about US honeybees. This winter’s losses were lower than average following a particularly bad 2018-2019 season.
Our best wishes for a productive day. Please send any news, comments, stowed away Segways, and whatever you’re not drinking 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 Liz Webber, Jackie Bischofm John Detrixhe, Alex Ossola, and Max Lockie.