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Hi there,
Happy Monday! Here's what we're watching in business and tech news this week:
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Earnings season continues — this week, look for reports from companies like Disney, Pinterest, General Motors, Lyft, PayPal, Peloton, Square, Uber, and more. Tech stocks have generally performed strongly so far, limiting broader losses in the market.
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Look for a Covid-19-related data privacy bill to be introduced in the Senate as soon as this week. A group of Republican lawmakers led by Roger Wicker is looking to regulate what tech cos can do with the data collected from tracing Covid-19 infections, according to Protocol. The aim is to reportedly roll these provisions into the next economic stimulus package.
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Eyes will be on US states’ gradual reopenings this week following the expiration of shelter-in-place orders. Despite warnings from public health officials, 30+ states have eased restrictions, from letting nonessential businesses open for curbside pickup in Colorado to allowing all businesses — including bars and personal care services — to reopen in North Dakota.
- Friday’s April jobs report is expected to show the highest unemployment rate on record — with some predicting that it could surpass 16%, up from 4.4% in March. Employers are also forecast to have shed 22M jobs in April, the equivalent of wiping out every job created in the past decade, according to the Wall Street Journal. Covid-19 has wreaked economic havoc across numerous industries — we take a closer look at how the pandemic has affected fintech, insurtech, AI, and more in these briefs.
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