Bloomberg - Evening Briefing - ‘Serious rethinking’

Evening Briefing
Bloomberg

The Chinese ambassador to the U.S. called for a “serious rethinking” of relations between the two countries, relations which have been deteriorating for some time now. The trade war started by the U.S., and the years of tit-for-tat that followed, had already made for sometimes less-than-cordial dialogue between Washington and Beijing. Now, with a global pandemic that began in China and subsequently landed full-force on America, the blame game has gotten much worse.David E. Rovella

Bloomberg is mapping the pandemic globally and across America. For the latest news, sign up for our Covid-19 podcast and daily newsletter.

Here are today’s top stories

Italy posted the most new Covid-19 cases in four days while Irish infections rose after three days of declining numbers. Singapore reported more than 1,000 new cases for the third day in a row, pushing the island city-state’s total infections past 10,000. U.S. cases rose 3.1% from the day before to 835,000, below the average daily increase of 4.4% over the past week. New York Governor Andrew Cuomo reported 474 fatalities, the lowest daily rate in the hardest hit state since early April, pushing total deaths for the Empire State past 15,000. Here’s the latest.

Some 88% of Covid-19 patients in the New York City area who had to be placed on ventilators subsequently died.

Cuomo, with the help of former New York City Mayor Michael Bloomberg, is building a “tracing army” to track the origin of individual coronavirus cases and reduce the spread so the state can focus on reopening.

The first U.S. “small business bailout” forked over lots of free money to big businesses. The second iteration is supposed to be better, despite retaining the same loophole that short-changed mom-and-pop shops. Sole proprietors and contractors—which account for around 80% of the 30 million U.S. small businesses—were left with little last time, and many expect it to happen again. The banks, meanwhile, promise they will get it right this time.

Democratic House Speaker Nancy Pelosi said a “major package” of aid for beleaguered state and local governments will be in the next bailout package, though Republicans are lining up against such assistance.

Labor markets in key presidential battleground states are among the hardest hit by the virus-induced economic crisis, according to an index of state activity released Wednesday.

American energy independence was followed by aspirations to energy dominance. But the shale revolution that drove the nation’s unlikely fossil fuel ascendance is in the process of being demolished.

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg Pursuits

Garages Are the New Covid-19 Battle Front

Before Covid-19, most Americans likely hadn’t heard of 3D printing. If they had, it probably conjured visions of tinkerers and techies in their garages obsessing over Dungeons & Dragons figurines. But the pandemic has turned this expensive, niche hobby into something deadly serious. Those tinkerers and techies are increasingly stepping in where others have fallen tragically short. People across the country are running 3D printers around the clock, in basements, workshops, bedrooms and garages, churning out personal protective equipment desperately needed by medical professionals on the front lines of a public health catastrophe. 

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