We are now three weeks into nationwide protests against police brutality and racial inequality in the US, and it’s been just over three months since the WHO declared the novel coronavirus a (global) pandemic. Time flies when anxiety and unrest is at an all-time high. I hope you’re able to find some time to decompress this week.
In today’s briefing, let’s get you caught up on the news you might have missed from over the weekend.
Weekend in review
The latest on the pandemic
Many states saw record numbers of new coronavirus cases over the weekend, a spike largely attributed to Memorial Day socializing weeks before. Caseloads are falling in the Northeast and Midwest and rising quickly across the South and Western regions of the United States.
In Europe, many countries have opened international borders, and France is ending limitations on restaurants and international travel earlier than expected after notable drops in new infections. Though borders are open, restrictions have been imposed on travelers traveling from countries with uncontrolled outbreaks and rising case counts. In Beijing, lockdown measures were reinstituted after a fresh outbreak of cases was linked to a major wholesale food market.
The question remains whether new outbreaks of the coronavirus can be quickly contained or if they will delay the global economic recovery from lockdowns.
The latest on Black Lives Matter movement
Over the weekend, a police shooting in Atlanta sparked new outrage, immediately resulting in violent protests and a building fire, the resignation of the Atlanta police chief, and the firing of the police officer involved in the incident. Protests for racial equality continue to draw large crowds across the US and abroad, with Germany reporting a crowd of tens of thousands taking to the streets to advocate for many causes, including racial justice, greener policies, and animal rights. In Brooklyn, NY and West Hollywood, CA yesterday, thousands gathered in support of Black transgender Americans.
Recent changes initiated by the protests include,
- Congress debating the specifics of police reform through various legislative proposals.
- Many state officials have signed packages of police reform bills, and are transferring funds earmarked for police budgets to other public programs.
- Breaking with tradition, some state judges are speaking out in support of the movement and against racism.
According to an analysis by Axios, the 100 largest US public companies have committed $1.63B to organizations fighting racism and inequality. A closer look reveals that ten companies make up 88% of the total commitment sum, the largest being Bank of America with a four-year $1B pledge.
Other news of note
- Facebook’s planned purchase of Giphy is under investigation by antitrust regulators in the UK. Regulators in Australia are also reviewing the deal.
- WarnerMedia streamlined HBO nomenclature.
- Palantir, Snowflake, and Lemonade are the latest startups to file for IPO, after months of filing inactivity due to the outbreak.
- This morning, the US Supreme Court ruled that federal civil rights law prohibits workplace discrimination against LGBT workers.
Long reads of the day: The Wall Street Journal’s Jeffrey Katzenberg and Meg Whitman Struggle With Their Startup—and Each Other and The Observer Effect’s interview with Marc Andreesen.
Looking ahead
The MLB season restart talks have stalled after disagreements between the League and players’ union ended negotiations over the size of pay cuts players would take. Meanwhile, NBA players are divided on resuming the season amid the pandemic and protests. In Hollywood, Academy Awards ceremony officials are expected to announce a postponement of next year’s Awards as movie releases are in complete disarray due to the pandemic.
On the calendar this week
Tuesday: US retail sales, Jerome Powell semiannual monetary-policy report to Congress
Wednesday: Jerome Powell semiannual monetary-policy report to Congress continues
Thursday: Unemployment claims, Premier League restarts, new Fortnite season
Friday: Juneteenth
The weekend: Don’t forget Father’s Day is this Sunday, June 21st.
Have a productive week. We’ll see you back here on Thursday.