The World
Secretary of State Mike Pompeo notified Congress that Hong Kong no longer should be considered autonomous, a declaration that could have far-reaching ramifications in its trading relationship with the United States. (Washington Post)
China President Xi said that as relations between Washington and Beijing plummet, China must prepare for war. Hong Kong police arrest hundreds as Legislative Council begins debate on a law demanding respect for China’s national anthem, while Taiwan says it will help fleeing Hongkongers move to the island. (The Times, South China Morning News)
The European Commission unveiled a plan — a “fiscal shock and awe” — to borrow on the market and then disburse 750 billion euros in grants and loans to help EU countries, particularly in the South, recover. Meanwhile, Japan delivered the world’s biggest stimulus package, 117 trillion yen ($1.1 trillion) that will be funded by a second supplementary budget that breaks last month’s record. (Bloomberg, Reuters, Bloomberg)
A tax credit for keeping workers on payrolls is drawing bipartisan interest as lawmakers seek to expand a wage subsidy alongside small-business aid and unemployment insurance. (Wall Street Journal)
The economy is on track for a short V-shaped recession following early signs that spending has jumped by more than expected, the Bank of England’s chief economist said. There has already been a "modest recovery" in spending and business confidence according to real-time indicators. (The Telegraph)
UK Prime Minister Boris Johnson suffers a poll slump. (The Times)
The Covid-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year – from fossil fuels to renewables and efficiency. The includes a predicted 50% drop in U.S. shale project investments. (IEA 2020 Report, Wall Street Journal)
Minneapolis police, protesters clash almost 24 hours after George Floyd's death in custody. Four officers were fired after a video showed one of them kneeling on a handcuffed black man's neck and ignoring pleas that he couldn't breathe. (Star Tribune)
More than three-fourths of principals say they expect student achievement in their schools to be somewhat or much lower than it was in the fall of 2019, and almost 70% of teachers say addressing achievement gaps will become a higher priority next school year. (EducationDive)
1 in 5 teachers say they are unlikely to go back to school if their classrooms reopen in the fall, a potential massive wave of resignations. While most teachers report working more than usual, nearly two-thirds say they haven't been able to properly do their jobs in an educational system upended by the coronavirus. (USA Today/Ipsos Poll)
Finance
Bank of America staff will return to the office in phases, and workers will be notified at least 30 days before they’re scheduled to return. Goldman Sachs is planning on having some of its traders and other markets personnel return to offices in the U.S. and London in the next few weeks. (Bloomberg, CNBC)
Top-rated companies including Disney, Apple and ExxonMobil borrowed a trillion dollars in five months to boost their balance sheets against the coronavirus-induced economic downturn. (Financial Times)
Boeing is eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures. (Reuters)
Le Pain Quotidien’s U.S. restaurants file for bankruptcy. TGI Friday’s will permanently close up to 20% of its U.S. restaurants. (Wall Street Journal, Bloomberg)
Technology
Twitter added a fact-checking label to two tweets from US President Donald Trump’s Twitter account, after introducing new warning labels and fact-checking messages earlier this month for tweets containing false or misleading information, including tweets from world leaders. Meanwhile, Facebook executives shut down efforts to make the site less divisive, studying how it polarizes users, then largely shelving the research. (MIT Technology Review, Wall Street Journal)
Apple plans to reopen about 100 U.S. stores. Stores with walk-in service will require customers and employees to undergo temperature checks and wear masks before entering. Apple will provide masks to customers who have none. (Reuters)
Amazon is in talks to buy driverless vehicle startup Zoox, a deal that would accelerate the e-commerce giant’s automation efforts. Other companies in the automotive and chip industries have also held talks with Zoox about a potential investment. (Bloomberg)
Amazon is in talks to purchase self-driving technology startup Zoox for some $3.2 billion. The purchase would further solidify a strategy to bring delivery services totally in-house and could keep FedEx, UPS and other companies working on autonomous vehicle technology on their toes. (CNET)
Streaming service Quibi is beginning to feel the pinch of its lackluster performance since launching last month, as major advertisers seek to defer payments and the company looks to cut costs. (Wall Street Journal)
Local TV stations use same Amazon-scripted segment. (Courier)
Smart Links
Watch today’s SpaceX launch live on NASA‘s YouTube channel and SpaceX’s website. (NASA, SpaceX)
How Domino’s won the pandemic (hint: Cloud kitchens). (Marker)
How feasible are school reopening plans for fall? (EducationDive)
Covid-19 demonstrates the limits of Putin’s power. (New Yorker)
Covid-19 flares in America's polluted “sacrifice zones.” (Wired)
Hershey says mint, gum sales hit as lockdowns restrict social gatherings. (Reuters)
Lickable screen recreates almost any taste without eating food (Gizmodo)