Wednesday, April 15th, 2020
WHO Funding Cut, College Testing Changes & Peacock Debut
All the news you need in 10 min:
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Story Summaries
All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want perusing the latest happenings...
Trump Cuts WHO Funding
President Trump announced the U.S. will stop paying the World Health Organization. He accused the UN organization of mismanaging and covering up the spread of the new coronavirus. The U.S. reportedly provides more than a fifth of the W.H.O.'s budget. UN Secretary General António Guterres spoke out against Trump's decision, saying it's not the time to cut back resources from organizations fighting the virus.
Read More: CNBC, WSJ, The Hill
Plans to Reopen Economy
Federal and state governments are working on strategies to reopen the economy. The Washington Post got hold of a draft of a plan from the CDC and FEMA. It includes everything from manufacturing more tests by mid-May to gradual re-openings, based on local conditions. California, meanwhile, released a list of indicators it needs to reach before easing up on the stay-at-home order. They include being able to track cases, develop therapies, and have the ability to re-issue a mandate if necessary.
CDC, FEMA Plan Reopening Plan: Washington Post, CNN
California Loosening Guidelines: LA Times, CBS News
Social Distancing Through 2022?
A recent Harvard study said the U.S. might need to follow some kind of social distancing guidelines into the next two years. Researchers warned against lifting measures all at once, saying that would risk just delaying, instead of avoiding, the peak of the pandemic. It did note that there’s a lot we still don’t know about COVID-19, like how much it might change with the seasons, and how long someone’s immunity might last.
Read More: STAT, Bloomberg
Hardest-Hit Populations
COVID-19 has now killed more than 126,000 people around the world. New York City’s death toll has surpassed 10,000. Also, the CDC released its first national data about how healthcare workers are being impacted. It found in 12 states, medical professionals made up 10-20 percent of all coronavirus cases. That said, the hospitalization rate is lower among health care workers than the rest of the population. Meanwhile, we’re hearing from a celebrity about what it feels like to have COVID-19. Actress Rita Wilson said she felt tired and achy. She also had a fever with extreme chills. Wilson says she realizes now that she had also lost her senses of taste and smell. After a few weeks, Wilson and her husband, Tom Hanks, did recover.
Case Count: Johns Hopkins
NYC Deaths Surpass 10,000: NYT, NPR
Healthcare Workers Sickened: AP, USA Today
Rita Wilson on Coronavirus: CNN, CBS News
IMF Economic Outlook
The global economy is now on track for the sharpest downturn since the 1930s, according to the International Monetary Fund. What’s now being called “The Great Lockdown” is on track to sink the world’s economy by 3%. The IMF predicts a partial rebound in 2021, but that depends on the course of the pandemic.
Read More: IMF, WSJ, Reuters, Yahoo Finance
Relief Payments & Tax Day
Today, April 15, is usually tax day, but the federal deadline got pushed back to July 15 this year. Still, state deadlines can vary. Meanwhile, as many as 80 million Americans should have received a direct deposit from the federal government as of today. The IRS started depositing money in Americans’ bank accounts late last week as part of the economic relief package passed by Congress.
Personal Payments Coming In: Washington Post, ABC News
Tax Deadline Delay Reminder: USA Today, Forbes
Presidential Endorsement & New Challenger Possible
Former President Barack Obama endorsed his former Vice President, Joe Biden. During a 12-minute video announcement, Obama said choosing Biden as his right-hand-man was one of the best decisions he’s ever made. Meanwhile, a third candidate could be joining the presidential race. U.S. Rep. Justin Amash, from Michigan, says he’s considering running. Amash left the Republican Party last year and now considers himself a conservative-leaning Independent.
Obama Endorses Biden: CBS News, Video
Possible 3rd-Party Candidate: Twitter, MLive, WaPo
Ventilators Ready Early
General Motors is delivering its first batch of ventilators to FEMA. This delivery is the first of at least three, and it’s ahead of schedule. By August, GM plans to have delivered 30,000 ventilators for about $490 million. It’s working with Ventec Life Systems to get them all done. Remember, ventilators are a key piece of medical equipment that has been in short supply at hospitals in the hardest-hit areas.
Read More: NBC News, WSJ, Press Release
Colleges Make Changes
Some universities are letting high school seniors skip standardized tests, like the SAT and ACT. About 50 schools have reportedly made the change. Some are waiving the requirement for just this next school year, others for longer. Meanwhile, some universities are thinking about suspending all in-person classes until 2021. Nothing is set in stone yet, but they’re working up plans in case the coronavirus pandemic is still a problem into the next school year.
SAT/ACT Requirements Dropped: CNN, Washington Post
In-Person Classes Postponed: CNN, Forbes
Peacock Launched
Today, yet another streaming service is making its debut. NBC Universal’s Peacock just launched. It includes an on-demand library with shows like 30 Rock and Law and Order, as well as movies like Jurassic Park and Shrek. Before the end of the year, Peacock will have original programming too. For Comcast customers, it’s available now, commercial-free, and it doesn’t cost anything on top of the regular bill. For anyone else, it will be rolled out July 1 for $5/month with ads or $10/month ad-free.
Read More: The Verge, TechCrunch
Work Wednesday: Companies Cutting 401k Contributions
The coronavirus pandemic is taking a toll on employees' 401(k) matches. Some major companies are reportedly cutting their contributions as a way to save cash. Still, experts say just because companies aren’t matching, it doesn’t mean you should stop putting money in too. Even with the market fluctuating, experts say your contributions will pay off in the long run.
Read More: WSJ, Forbes