Monday, March 16th, 2020
Social Distancing, Fed Slashes Rates & Movies Stream Early
All the news you need in less than 10 min:
This episode is brought to you by www.Blinkist.com/news and www.Empower.me/newsworthy
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...
Coronavirus Guidance & Response
More Americans are staying home in hopes of slowing the spread of COVID-19. New York City ordered all bars and restaurants to close for at least 2 weeks, along with the entire states of Washington, Ohio, Massachusetts and Illinois. Many school districts are also shutting down, including the nation’s largest: New York City and Los Angeles. The CDC is urging everyone to cancel gatherings of 50 people or more for the next eight weeks. Still, President Trump is urging calm. He told Americans to stop hoarding groceries. On Friday, he ordered an emergency declaration that frees up $50 billion to fight the new coronavirus.
New Guidance: WSJ, CBS News, AP, CDC, Dept of Homeland Security
Schools, Bars & More Closed: USA Today, Fox News, LA Times
Nat'l Emergency, Aid Package: CNN, Bloomberg, NBC News, Politico, NYT, NPR
Fed Cuts Interest Rates
The Federal Reserve made a dramatic decision to fight the economic fallout from COVID-19. It slashed interest rates to near zero. The cuts could have impacts on mortgage rates, credit card interest rates and auto loans. Stock futures dropped 5% Sunday night, hitting the “limit down.” That means they couldn’t fall any further.
Rate Cuts: USA Today, WSJ
Stock Futures: CNBC, CNN
Coronavirus Impacts Worldwide
The UK banned travel to the United States. That came after President Trump expanded the Europe travel ban to include the UK and Ireland. Still, Americans are able to come home. Also, Spain and Ireland ordered nationwide lockdowns. And death tolls are going up. Meanwhile, dozens of research groups are racing to create a vaccine for the future. Still, it will likely be at least a year before it's ready.
New Travel Restrictions: NYT, AP
Europe Death Toll: WaPo, WHO
Vaccine Development: AP, ABC News
2020 Presidential Race Updates
Coronavirus concerns were evident from the start of last night’s Democratic Presidential debate. We saw no handshake, no live audience, and the podiums were noticeably six feet apart. The candidates answered how they would respond to a similar pandemic. Former Vice President Biden said he would deploy the U.S. military, mostly to help build overflow rooms at hospitals. Sen. Sanders spoke more about health care costs, saying all coronavirus tests and treatments should be free. The next primaries are happening tomorrow in Arizona, Illinois, Florida and Ohio. A couple other states decided to postpone primaries to practice social distancing.
Democratic Debate Recap: CNN, WaPo
Primaries Postponed: Vox, WSJ
NFL New Rules
The NFL reached a deal with its players over the weekend. It includes expanding the regular season from 16 to 17 games. Also, 14 teams will make it to the playoffs, instead of just 12. Other changes involve the NFL’s drug policy. Annual testing will now be limited to the first two weeks of training camp, and players who test positive for marijuana won’t be suspended (just fined). The deal also raises salaries and provides larger pensions for current and former players. Changes go into effect in 2021 and last through the 2030 season.
Read More: NYT, AP, CBS Sports
Bill Gates Stepping Down
Bill Gates is leaving Microsoft’s board of directors. He said he wants to spend more time working on other initiatives, like improving global health and education and fighting climate change. Gates co-founded Microsoft 45 years ago. He stepped away from his daily role back in 2008.
Read More: WIRED, CBS News
FCC Coronavirus Help:
The FCC is working to keep people digitally connected during the coronavirus pandemic. It’s asked cell phone carriers and Internet providers to help out by not shutting off anyone’s service for the next 60 days, even if they can’t pay their bills. More than 70 companies have already agreed. Many companies also say they’ll waive late fees and open WiFi hot spots to those in need.
Read More: Engadget, Axios
Movies Streaming Early
Frozen 2 is now streaming on Disney+, which is three months early. Disney decided to drop it over the weekend, instead of this summer, because it said people need its heartwarming message during these challenging times. The latest Star Wars movie was released early too. You can buy it now for $20 on multiple platforms, but it’s not yet available to rent.
Read More: Mashable, Engadget, The Verge
Money Monday: Managing Subscriptions
Researchers from tech consulting firm West Monroe Partners found 84% of consumers underestimate what they spend on subscription services. They found people are most aware of mobile phone services but are less aware of wellness app subscriptions or those geared at children. That said, most people said they were happy with their services, just surprised by how much they’re spending altogether.
Read more: West Monroe, The Motley Fool