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Here’s what you need to know
Senate Republicans finally unveiled their trillion-dollar coronavirus package. Under the plan, which now has to get through Congress, unemployment benefits would be slashed, a one-off $1,200 payment would come back, and businesses could apply for nearly $300 billion in loans.
Covid-19 cases are surging again across the world. There are fresh restrictions in place in Hong Kong, China, Australia, and Spain. Travel spending has already collapsed in Europe (see below), and the UK may enforce more mandatory quarantines on travelers from the continent.
Gold nearly hit $2,000 an ounce. The precious metal has already been trading at record levels (paywall), and reached $1,980.57 this morning in Asia, before dropping off. Overall, the price of gold has gone up by more than 30% this year, because of a weak dollar and low bond yields.
The US attorney general defends the use of federal agents in Portland. William Barr is expected to tell Congress that their deployment to disperse protests is justified because demonstrators’ attacks on a federal courthouse represented an attack, in his view, on the US government.
To Jeff, from Bill, with love
Apple’s Tim Cook, Alphabet’s Sundar Pichai, Amazon’s Jeff Bezos, and Facebook’s Mark Zuckerberg will testify before the US House Judiciary Antitrust Subcommittee tomorrow.
It’s the biggest hearing of its kind in the US since Microsoft’s back in 1998. Bill Gates was widely considered to come off as defiant and evasive in his testimony at the time—which means he is now perfectly positioned to help Jeff Bezos learn from his mistakes in the Amazon titan’s first appearance before Congress.
We were fortunate enough to intercept the following—definitely real and completely not imagined by Quartz’s Sarah Todd—message from one tech titan to another. Here’s a sample:
I was feeling feisty, like a person who had definitely never had any cream pie thrown at him. I told those senators they should knock off the regulation talk and be grateful for everything Microsoft had done for America. I told them, “The computer-software industry is not broken, and there is no need to fix it.” Well, you know what happened next: The Department of Justice decided we had a monopoly, sued Microsoft in a lawsuit that went on for years, and ultimately won. Microsoft lost its dominance. I stepped down as CEO.
Read the rest of this letter (which really is filled with actual facts) here.
Charting luxury shoppers abroad
The luxury industry is heavily reliant on traveling shoppers, and tourists from many countries wait until they’re abroad to start snapping up handbags, perfumes, and haute couture clothing. This is particularly prevalent in Europe, in part because luxury merchandise there can be much cheaper than in, say, China, whose citizens are the world’s top buyers of luxury goods.
Tourists from South Korea and Japan also spend a significant amount outside their borders, as detailed in a note today from investment firm Bernstein. It said traveling shoppers account for about 40% of all luxury sales, and Europe, it added, was the “elite” traveler’s top destination for shopping abroad.
✦ For members: Break out the chore chart
“Mom, Dad…as long as you’re under our roof, you’ll obey our rules.”
US mortgage lender Freddie Mac recently showed a steady and significant increase in sales of so-called in-law suites, granny pods, or coach houses—officially known as accessory dwelling units, or ADUs—between 2009 and 2018.
But for those who need greater levels of care, living with family or aging in place may not be feasible. Our latest field guide looks at how the pandemic is shifting trends in elder care, potentially making senior housing safer, more enriching, more equitable, and better understood.
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Matters of Debate
👶 A lower birth rate doesn’t necessarily help the planet. Other factors will steer the fate of climate change.
🎮 We’re all gamers now. Working from home all day can inflict the same damage on a spine as many hours of Fortnite would, so maybe we need esports chairs.
🏈 Football risks becoming the new baseball. The MLB made some Covid-19 errors—dooming its season in the process—that the NFL is on track to repeat.
Surprising discoveries
Tom Hanks and Rita Wilson became Greek citizens. The Hollywood stars were given honorary passports for helping raise awareness about devastating wildfires near Athens.
A St. Bernard was rescued from a mountain. 16 volunteers helped bring Daisy to safety after she collapsed while descending England’s highest peak.
The Australian finger lime could save Florida’s citrus industry. A gene in the exotic, pickle-lookalike fruit is tolerant to the citrus greening disease that has devastated crops in the Sunshine State.
Solar power has revolutionized heroin production. Afghan poppy farmers have embraced green energy, which allows them to irrigate their fields on the cheap.
Unsolicited seeds from China are sowing confusion in several US states. Authorities have advised puzzled recipients not to plant the seeds, which may belong to invasive species.
Our best wishes for a productive day. Please send any news, comments, safe seeds, and rescued rescue dogs to hi@qz.com. Get the most out of Quartz by downloading our app on iOS and becoming a member. Today’s Daily Brief was brought to you by Hasit Shah, Susan Howson, and Nicolás Rivero.