Sep 8, 2017

Facebook reportedly investing $1 billion in video content

Noah Berger / AP

Facebook is investing $1 billion in video content through 2018, The Wall Street Journal reports. Sources told the The New York Times two weeks ago that Facebook plans to spend $3 million per episode on a drama.

Why it matters: The investment matches the reported $1 billion content investment from rival Apple, as well as the billions invested by other major tech companies like Netflix, YouTube, and Amazon. It shows Facebook's commitment to being a video-first company, a mission that has been reiterated to investors by executives continuously during Facebook's earnings calls this year.

Facebook officially launched "Watch," it's video platform this week, with dozens of shows planned from digital media companies, newspaper companies and TV companies. It has also been competing for lucrative live-streaming contracts. It recently lost a major bid to livestream cricket in India to 21st Century Fox but has signed deals to stream MLB and ESL (e-sports) games.

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Trump administration asks Congress for $2.5 billion to fight coronavirus

President Trump with Health and Human Services Secretary Alex Azar at the White House in September. Photo: Chip Somodevilla/Getty Images

The Trump administration sent a letter to Congress Monday requesting a funding commitment of at least $2.5 billion to help combat the spread of the novel coronavirus.

Details: The request for a lump sum account for the Department of Health and Human Services includes $1.25 billion in new funds to fight COVID-19 and $535 would come from untouched funds for the Ebola virus.

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WHO won't call coronavirus a pandemic as cases spread

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.

The World Health Organization will not yet call the coronavirus a pandemic, claiming that needs across affected countries are too varied and the classification would increase fear, per a briefing Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, WHO expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,620 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 3 hours ago - Health

The global scramble to contain the coronavirus

Taking precaution, in the Philippines. Photo: Ezra Acayan/Getty Images

The coronavirus is spreading quickly in cities nowhere near Wuhan, China, and the window to prevent a global pandemic is narrowing.

Zoom in: Here's a look at what comes with a coronavirus outbreak in communities outside China that have been hardest hit so far.

Go deeperArrow3 hours ago - World