Oct 18, 2018

Dina Powell to attend "Davos in the Desert" (update: not anymore)

Photo: Jim Watson/AFP/Getty Images

Axios has learned that one interesting person still scheduled to attend Saudi's "Davos in the Desert" conference, albeit not in a speaking role, is Dina Powell — who rejoined Goldman Sachs earlier this year as a member of its management committee after a stint in the Trump White House.

Update: Goldman Sachs CEO David Solomon said in a Thursday afternoon interview with CNBC that while Powell had been planning to attend, she no longer will.

The big picture: This comes shortly after Powell pulled herself out of consideration to replace Nikki Haley as U.S. Ambassador to the UN, and her continued attendance seems to be both because sovereign funds are part of her coverage area, and out of a responsibility she feels to the U.S.-MBS relationship she helped to foster.

Also don't be surprised to see a bunch of bankers from Goldman floating around, particularly those on regional coverage teams. Same goes for other big investment banks, including some whose CEOs pulled themselves off the program.

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World coronavirus updates: Half of the globe is on lockdown

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

About half of the planet's population is on lockdown amid the coronavirus crisis.

The latest: About half of deaths worldwide are in Italy and Spain, with fatalities exponentially increasing all over Europe. The global death toll exceeded 55,000 on Friday, per Johns Hopkins data.

Go deeperArrowUpdated 1 hour ago - Health

U.S. coronavirus updates: 700,000 jobs lost in March, death toll still rising

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

The U.S. lost 701,000 jobs in March, but the report doesn't reflect the height of the virus' impact on the economy. The jobless hits right now are like a natural disaster striking every state at the same time.

The state of play: Payments to Americans from the $2.2 trillion stimulus package will be distributed in mid-April, but those without IRS direct deposit accounts may not receive checks until August, according to a House Ways and Means Committee memo first reported by CNN and confirmed by Axios.

Go deeperArrowUpdated 2 hours ago - Health

Skepticism rises over government's small business bailouts

Illustration: Aïda Amer/Axios

America today launched its $350 billion bailout for small businesses, and already there is widespread skepticism that the program will run smoothly or be large enough to meet demand.

What's new: House GOP leader Kevin McCarthy yesterday said that the affiliation rule will be waived for any company with less than 500 employees that doesn't have a controlling outside shareholder, thus making most VC-backed startups eligible for PPP loans. This was based on a conversation he'd just had with Treasury Secretary Steven Mnuchin.