May 5, 2017

Drug control office would get the axe under Trump budget

David Nather

Jon Elswick / AP

President Trump's proposed budget for next year would cut the funding for the Office of National Drug Control Policy by about 95 percent, basically a death blow, Politico reports. That's according to an internal email from the office that's currently in charge of fighting the opioid crisis. "These drastic proposed cuts are frankly heartbreaking," acting Director Rich Baum said in the email.

Between the lines: It's worth watching closely, but remember that Trump's budget is just a proposal and Congress doesn't have to approve it. It's already said no to the National Institutes of Health cuts Trump wanted.

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Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 883,225 — Total deaths: 44,156 — Total recoveries: 185,377 — Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 189,753 — Total deaths: 4,090 — Total recoveries: 7,141 — Map.
  3. Axios-Ipsos Coronavirus Index: It's "a tale of two Americas" as the rich are more likely to work from home and the poor are more likely to report to work.
  4. Federal government latest: President Trump said the next two weeks would be "very painful," with projections indicating the virus could kill 100,000–240,000 Americans.
  5. State updates: Washington and California appear to have slowed their surges of new cases — Florida cases have been doubling the past four days, approaching 7,000.
  6. NYPD: Over 1,400 of its employees have reportedly tested positive for COVID-19.
  7. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Private equity hits the brakes amid coronavirus recovery uncertainties

Illustration: Rebecca Zisser/Axios

Private equity is still working on opportunistic deals when it can get a break from portfolio triage, but it's also boarding up the exits amid new questions about the speed of the coronavirus recovery.

The state of play: Sale processes are being shelved daily, even ones that already launched with investment bankers, data rooms, and interested suitors.

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China's medical diplomacy is empowering euroskeptic leaders

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The Chinese government has embarked on a highly publicized campaign to provide vital medical supplies to European countries as they fight coronavirus outbreaks within their borders.

Why it matters: Those efforts — and the perception that the European Union has done little to help — are providing fodder for politicians who are eager to hail China and criticize the EU. EU leaders may now have to worry about both Chinese and Russian overtures that weaken European unity.

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