Axios

Accurate information could be the difference between life and death, putting extra responsibility on news outlets, social media companies and public officials to be sure of what they report, amplify and say. Dan digs into the state of media and media trust with Axios' Sara Fischer.

Go deeper: Coronavirus presents existential threat for news media

CNN anchor Chris Cuomo announced Tuesday that he tested positive for the coronavirus.

Why it matters: He's the brother of New York Gov. Andrew Cuomo, whose state has been ravaged by the illness, and frequently has had his sibling appear on "Cuomo Prime Time" throughout the crisis.

Global merger and acquisition activity fell sharply in the first quarter of 2020, with dollar volume dropping 28% to $698 billion and the number of deals off 14% to 9,616, according to preliminary data from Refinitiv.

The big picture: The dollar drop was largely driven by the disappearance of megadeals valued at over $10 billion, which fell from $412 billion for the Jan. 1–March 28 period in 2019, to $179 billion that same period this year.

Fitbit is the latest tech company tasked with launching a consumer product amid the coronavirus outbreak, on Tuesday unveiling a new version of its Charge fitness tracker.

The big picture: While it has been working to add paid subscription services, Fitbit remains dependent on new hardware sales, something that could be trickier in a time when most of America is sheltering in place.

Comcast said on Monday that while demand has increased significantly, so far its network can handle the traffic boost without a noticeable decline in speed or reliability.

Why it matters: There has been much concern over how well the internet would hold up as most of America is working and schooling from home. So far, broadband and wireless providers say they aren't seeing signs of trouble.

It's no shock that online shopping has surged, especially for groceries, but new data from Adobe offers some valuable breakdowns of exactly where consumer dollars are going.

Why it matters: Some buying patterns are likely temporary, but many people may permanently expand what they buy online, even once physical stores reopen.

The Transportation Department and the EPA are scheduled to unveil final rules Tuesday that set vehicle mileage and carbon emissions requirements through model year 2026 — but the battle over these regulations is not over.

Why it matters: Transportation overtook electric power as the largest source of U.S. greenhouse gas emissions a few years ago, but the new rules are slated to be far weaker than the Obama-era requirements they're replacing.

Complex Networks, a lifestyle and entertainment media company, is creating an end-to-end digital advertising consultancy that provides publishing clients with a suite of services to make more digital revenue, executives tell Axios.

Why it matters: Catalyst, as it will be called, is the company's second in-house consultancy. It launched a product development services business last year called Climate.

McClatchy will put its paywall back up around some coronavirus news as it aims to balance its duty keep people informed with its need to bolster subscriptions, executives tell Axios.

Why it matters: The company is trying to be strategic about how much they allow to be free. While it's important that some information remains free, like breaking news that could impact the health and safety of their readers, they don't want that free information to cannibalize a surge in subscription interest.

From barbers to pastors to fitness instructors, any person that used to make money via brick and mortar services, is now turning to online platforms to make money for their expertise.

Why it matters: A slew of old-line industries that once hesitated to embrace digital technologies are now being forced to do so for the sake of survival.

With states across the country banning "non-essential" construction due to the coronavirus outbreak, some major stadium projects have been halted — but not all of them.

The state of play: All work has stopped at the the New York Islanders' Belmont Park arena, which was set to open in October 2021, but will now likely be delayed.

Via, a transportation software company best-known for its carpool service in New York City, has raised $200 million in Series E funding led by Exor, a holding company whose portfolio includes Fiat Chrysler. The company' valuation more than doubled since its last round to $2.25 billion.

Why it matters: It’s remarkable that the company was able to get this deal despite the coronavirus pandemic severely reducing demand for ride-hailing and public transit.

Hotel industry lobbying groups have fired a warning shot, exhorting lawmakers to provide them with financing to avoid a series of debt defaults they say could set off a widespread financial crisis.

Why it matters: Without the bailout — which would be in addition to government funds from the $2 trillion CARES Act — the industry says its members could be the first in a wave of debt defaults that would hit everyone from real estate investors and pension funds to average homeowners.

Official statistics out of China suggest it is bouncing back from the coronavirus outbreak that shuttered the country for much of the first quarter, but there is growing speculation that data is being massaged to paper over a bevy of nagging issues.

Driving the news: China said manufacturing activity returned to expansion in March, with its official metric rising to 52.0. Economists had expected a reading of 45.0 after hitting a record low of 35.7 in February.

Video conferencing giant Zoom's stock has taken flight in recent weeks, up 121% this year while the S&P 500 has fallen 19% — but the good times may be coming to an end.

Driving the news: The New York attorney general's office sent a letter to the company Monday outlining a number of concerns about security flaws and vulnerabilities "that could enable malicious third parties to, among other things, gain surreptitious access to consumer webcams," the New York Times reported.

The Dallas Fed's business activity index fell to -70, the lowest reading ever, dating back to the survey's creation in 2004.

By the numbers: Measures of production, new orders, shipments and capacity utilization were the lowest since 2009 while prices declined and wage growth slowed, according to the survey of 110 Texas manufacturers conducted March 17–25.

The coronavirus is forcing major media giants to leverage layoffs and pay cuts in order to survive the coronavirus pandemic.

Why it matters: In the first few weeks of the outbreak in the U.S., local outlets were sounding the alarm over lost advertising revenue from shuttered local businesses. As the crisis continues, big national media companies say they are bracing for the worst.

With almost all U.S. states closing schools until at least the end of the month, most children ages 6–12 say they are spending at least 50% more time in front of screens daily, according to new data from SuperAwesome, a kids technology company.

Why it matters: Parents were already struggling to limit screen time for kids when they were in school, let alone trying to pull them away from their devices while they are forced to stay home away from their friends, peers and regular activities.