Axios

School's out for college kids, and it's internship season — but just as the coronavirus pandemic has disrupted all other types of work, it's roiling internships, too.

The big picture: Some internships have been canceled completely, and other firms are figuring out ways to make the experience totally remote. Either way, millions of students are losing out on valuable work and life experience this summer.

The coronavirus could create a new type of workplace discrimination in white collar work — separating those who show up to the office versus those who do not.

The big picture: Even when offices reopen, there will be groups of employees who will continue working from home, such as parents who have kids who are home from school. And these workers could get overlooked by employers.

The Dean family's business is dark for the first time in its 85-year history of operating ferris wheels and carnival midways throughout New England, unsure if it will be able to open at all in 2020.

Why it matters: Fiesta Shows typically employs hundreds of seasonal workers, and its events double as fundraisers for local churches, schools and other nonprofit community groups.

The Departments of Justice is investigating allegations that the meatpacking industry is fixing or manipulating prices, a person familiar with the investigation told Axios on Tuesday.

Why it matters: The investigation follows a surge in meat prices after outbreaks in a number of processing plants led to closures in more than a dozen states. But processors have been paying farmers and ranchers extremely low prices for their cattle, according to Politico, which first reported on the investigation.

Elon Musk's SpaceX is set to launch its first manned mission Wednesday, ushering in a new era in U.S. space exploration. Dan and Axios space reporter Miriam Kramer discuss the new economy of privately-funded space travel, the future of NASA, and the political ramifications of launching astronauts from U.S. soil for the first time in almost a decade.

Go deeper: How to watch SpaceX's historic crewed launch Wednesday

Car rental giant Hertz filed for Chapter 11 bankruptcy on Friday, ostensibly felled by a pandemic that dramatically lowered demand at its airport counters.

Under the hood: Hertz is a Frankenstein of financial engineering, beginning with its leveraged buyout in 2005 and continuing long after its private equity owners cashed out.

Apeel Sciences, a Santa Barbara, Calif.-based developer of rot-reduction coatings for produce, raised $250 million in new funding led by GIC at a valuation north of $1 billion.

Why it matters: If you buy avocados at Kroger, or at the largest grocery chains in Germany or Denmark, you're getting one with an Apeel coating. It's also now being applied to other fruits like organic apples and limes, and soon to vegetables like asparagus and cucumbers.

Remdesivir, officially branded as Veklury, does indeed work for patients hospitalized with COVID-19, according to expert reads of the data that were published in the New England Journal of Medicine.

Yes, but: The benefits remain rather limited, as patients on the drug leave the hospital in 11 days vs. 15 days.

HBO Max is set to launch this Wednesday, making it the third and final major streaming service to launch during the pandemic. (Quibi launched April 6th and NBCU's Peacock launched April 15th.)

Why it matters: At $14.99 monthly, it's the most expensive offering within its competitive set. But it also launches with a slew of exclusive fan favorites, ranging from "Friends" and "The Big Bang Theory" to "Game of Thrones."

Legal measures arbitrarily targeting "fake news" are picking up global steam.

Driving the news: The ACLU has filed a lawsuit on behalf of two Puerto Rican journalists who fear that two recent "fake news" laws will be used to punish them for their reporting on the coronavirus crisis.

DAZN is looking to raise money, the FT reports. The company was trying to raise $500 million last year, but according to a source familiar with the company's plans, those efforts were put on hold at the beginning of the pandemic.

Why it matters: The four-year-old international sports streamer was plotting a major international expansion prior to the pandemic, and was looking to use new funds to help secure high-end sports rights.

Amazon is looking to invest in localized podcast content, like news and sports, sources tell Axios. Sports content is top of mind as the company plans to buy up more TV rights and have adjacent audio content for users.

Why it matters: Amazon sees a strategic advantage in podcasts by leveraging Alexa voice tech to help users discover personalized content.

Masks in class, sports on hold, dorm life without roommates and summer 2021 classes for some: Brown University President Christina Paxson tells "Axios on HBO" it's all in play as colleges consider whether and how to safely reopen campuses in the fall.

Why it matters: An extended shutdown of U.S. colleges and universities would leave nearly 20 million students and 3 million employees with an uncertain future, but premature reopenings without proper coronavirus safeguards could jeopardize lives and force more closings.

Sales of existing homes in the U.S. fell 17.8% month over month and 17.2% year over year in April, but the median price jumped to a record high, the National Association of Realtors (NAR) said last week.

Why it matters: The data shows the combination of decreasing supply and historically low interest rates continued to push prices higher in an already expensive housing market.

The historic inflow to money market funds from institutional asset managers finally paused last week and that could mean investors are starting to believe in equities again after steering clear of making major investments over the last two months.

What happened: Money market funds, which are effectively savings accounts, saw just $1.41 billion of inflows for the week ending May 21, data from the Investment Company Institute showed — and it was entirely from retail investors.

As the coronavirus pandemic appears to be subsiding in China, it's becoming clear that its targets for the phase one trade deal with the U.S. are unrealistic and there is so far no sign of a plan for renegotiation.

What's happening: White House National Economic Council director Larry Kudlow said Thursday the trade deal was "intact, and China has every intent of implementing it."

People are returning to airports at a significant rate, TSA data show. While still down from its early March level when more than 2 million people were screened at airports each day, TSA screened nearly 350,000 people on Friday.

Why it matters: That is more than triple the number of people who went through screening checkpoints as recently as April 28. Just 87,534 were screened on April 14, a 96% decline from the year ago period.

Go deeper: Airlines pack in customers like there's no coronavirus

With concerts and music festivals canceled across the country, artists are flocking to virtual gaming platforms like Minecraft and Fortnite to give fans the next best thing to a live music experience.

Why it matters: As artists continue to figure out how to get paid performing online and aim to connect with even bigger audiences there, expect more virtual concerts to pop up, even as the country reopens.

Palantir could go public within a year, CEO Alex Karp told "Axios on HBO."

Why it matters: Bloomberg reported earlier this year that Palantir documents showed the company expected $1 billion in 2020 revenue.

Google, Facebook and other tech giants face a summer of regulatory grilling as long-running investigations into potential anticompetitive practices likely come to a head.

The big picture: Probes into the power of Big Tech launched by federal and state authorities are turning a year old, and observers expect action in the form of formal lawsuits and potentially damning reports — even as the companies have become a lifeline for Americans during the pandemic lockdown.

Palantir is "getting close" to a decision on whether to move the company out of California, CEO Alex Karp said in an interview for "Axios on HBO."

The state of play: "We haven't picked a place yet, but it's going to be closer to the East Coast than the West Coast. ... If I had to guess, I would guess something like Colorado."

Caring for older adults was already expensive, emotionally taxing and logistically difficult — and the coronavirus is only making it worse.

Why it matters: People older than 65 have the highest risk of dying from the virus, and outbreaks have been rampant in long-term care facilities. That is creating anxiety for seniors and their families.

LATAM Airlines Group SA said in a statement early Tuesday the firm and its affiliates in in the U.S., Chile, Peru, Colombia and Ecuador have filed for Chapter 11 bankruptcy protection in the U.S.

Why it matters: LATAM is Latin America's largest airline and its shareholders include Delta Air Lines. CEO Roberto Alvo noted in the statement the coronavirus pandemic has had a huge impact on the airline industry.

Palantir CEO Alex Karp told "Axios on HBO" that there have "absolutely" been moments he wished the company hadn't taken a contract with Immigration and Customs Enforcement (ICE).

• "Did I suffer? ... I've had some of my favorite employees leave," Karp told "Axios on HBO."

Wedding postponements during the coronavirus pandemic are dropping like petals from flowers past their prime. 

Why it matters: Weddings are a $74 billion industry, employing florists, reception venues and catering halls, photographers and videographers, clothing stores and more. But waves of cancellations are crashing over vendors, and currently engaged couples are apprehensive about scheduling future nuptials.