Coronavirus Update

Global cases rose above 1.51 million yesterday with more than 88,400 deaths. The number of confirmed U.S. cases rose to more than 430,000 with 14,753 confirmed deaths.

• The WHO director-general on Wednesday warned against politicizing the virus after world leaders have criticized the WHO for initially being too trusting of Chinese data.
• Italy saw a 26% day-to-day increase in the number of new reported cases, even as the country’s daily death total decreased by 10%.
• New York reported its highest daily increase in deaths, recording 1,169 in a 24-hour period ending Thursday evening.
• British PM Boris Johnson’s condition is reportedly improving after two nights in the intensive care unit.
• The U.S. Customs and Border Patrol on Wednesday announced they will begin to seize exports of personal protective equipment (PPE), including N95 masks and surgical gloves. Later in the day, the Health Department confirmed that 90% of the U.S. PPE stockpile has been depleted.
• Dr. Anthony Fauci on Wednesday predicted the U.S. will begin to see a turnaround sometime next week.

Sen. Loeffler & Husband To Liquidate Stocks

Sen. Kelly Loeffler (R-GA) and her husband, Jeff Sprecher (CEO of the NYSE), announced plans to liquidate their individual stock shares and options effective by the end of the week. Loeffler, who is the richest member of the Senate, recently came under fire after selling millions of dollars worth of stock following a classified Senate-wide coronavirus briefing.

More: For more details on the sale of stock by Loeffler and other senators in the lead up to the recent coronavirus-caused market downturn, check out our previous coverage.

Bernie Sanders Ends Bid For President

Sen. Bernie Sanders (I-VT) ended his bid for the Democratic presidential nomination on Wednesday, leaving former Vice President Joe Biden as the party’s de-facto candidate. Sanders said he will stay on the ballot in the remaining primary states to garner enough delegates to exert influence at the Democratic National Convention.

The Coronavirus Effect

• U.S. stock indexes rose roughly 3% on Wednesday, as futures were up in overnight trading.
• The Federal Reserve released the minutes of the March 15 meeting in which they decided to lower the benchmark interest rate to zero.
• Tesla announced a 10% to 30% reduction in pay for salaried employees on Wednesday, and said it will furlough all hourly employees.
• According to the National Multifamily Housing Council, 31% of U.S. apartment renters didn’t make their required April rent payment over the first five days of the month.
• Federal officials announced that General Motors will manufacture 30,000 ventilators in return for $489.4 million, a deal invoked under the Defense Production Act.

Revenue Stream

Disney announced on Wednesday that its streaming service, Disney+, had passed the 50 million subscriber threshold - nearly twice the amount that the company disclosed in their Feb. 4 Q1 earnings report. Disney+ debuted in nearly a dozen countries across Europe over the past two weeks, and also launched in India last week.

A Stellar Acquisition

Personal finance company SoFi has agreed to buy fintech service provider Galileo for $1.2 billion. Galileo’s platform is currently used by other finance companies such as Robinhood and Chime for day-to-day operations, which, in theory, gives SoFi leverage in any potential future negotiations with its competitors.

Graduation Celebration

Social distancing guidelines have postponed high school and college graduations across the country. So Jefferson County, Alabama Commissioner Sheila Tyson decided to host a ceremony of her own.

Sheila’s organization, Ignite! Alabama, is organizing a virtual graduation ceremony to be held on Zoom on April 26, featuring guest appearances from celebrities and a segment to honor local graduates.

Horsin’ Around

With the entire country on lockdown, Vienna’s horse-drawn carriages - called ‘fiakers’ - have seen their customer base dry up, but a few have found a way to stay busy and give back to the community.

Three ‘fiaker’ drivers partnered with a local hotel to deliver nearly 300 meals per day to those especially at risk of serious complications from the virus.

Let’s Get It On

Sometimes an extended period of time alone together (like the recent quarantine) can inspire feelings of true love… just ask a pair of giant pandas in a Hong Kong zoo.

Although Le Le and Ying Ying have been living together since 2007, the two had never felt the urge to mate - despite repeated attempts by the zoo. Finally away from prying eyes, the mood struck this past Monday, and the pair consummated their relationship for the first time.

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