Updated Mar 5, 2020 - Health

Netflix and Apple the latest to pull out of SXSW over coronavirus concerns

The 2019 SXSW Conference at Paramount Theatre, Austin, Texas, March 2019. Photo: Matt Winkelmeyer/Getty Images for SXSW

Netflix is the latest big name to withdraw from this month's South by Southwest festival in Austin, Texas, amid concerns about the spread of the novel coronavirus, the streaming giant confirmed to Axios Wednesday night.

Details: Apple told Axios earlier in the evening that it was withdrawing from the event.

The big picture: Other major conferences have been canceled in response to the COVID-19 outbreak.

  • IBM canceled Think, its biggest conference that drew 30,000 people to San Francisco last year. It also suspended most employee domestic travel and participation in large conferences.
  • Microsoft is encouraging all employees in the Seattle area in Washington — which has emerged as a major outbreak location in the U.S. — to work from home.
  • TED said it would either delay its conference to July or move to an online format, as first reported by Axios.

Go deeper: Coronavirus drives more tech industry events to be postponed or canceled

Go deeper

43 mins ago - Sports

European soccer's push to return

A Bundesliga match between Borussia Dortmund and Bayern Munchen in an empty stadium. Photo: Alexandre Simoes/Borussia Dortmund via Getty Images

European soccer made a splash Thursday, with two of its biggest leagues announcing official return-to-play dates in June.

Why it matters: Soccer is the world's most popular sport, so watching its return through the lens of various leagues, countries and cultures — all of which have been uniquely impacted by the coronavirus pandemic — is illuminating.

The corporate bankruptcy wave has just gotten started

Illustration: Sarah Grillo/Axios

Even with trillions of dollars in loans, grants and government support — with markets having absorbed a record $1.22 trillion of corporate debt in just five months — a slew of companies are defaulting on their loans and filing for bankruptcy in what is expected to be a record wave of insolvencies and defaults.

Why it matters: While equity and debt markets have rallied thanks to massive interventions from the Federal Reserve and Congress and excitement about the removal of lockdown orders, the real economy is quietly buckling, with many companies threatened by issues that predate the coronavirus pandemic.

Updated 2 hours ago - Politics & Policy

CNN crew released after being arrested live on air while reporting on Minneapolis protests

CNN's Omar Jimenez and his crew were released after being arrested Friday by Minneapolis state police while reporting on the protests that followed the death of George Floyd, a black man who died in police custody in the city.

What happened: CNN anchors said Jimenez and his crew were arrested for not moving after being told to by police, though the live footage prior to their arrests clearly shows Jimenez talking calmly with police and offering to move wherever necessary.