May 2, 2019

Trump drops his trade negotiation demand that China stop robbing U.S.

President Trump in Oval Office with Chinese Vice Premier Liu He. Photo: Chip Somodevilla/Getty Images

The Trump administration is dropping its trade negotiations demand that China cease hacking U.S. companies to steal intellectual property, according to the Financial Times.

Why it matters: Per the report, President Trump's team is softening its positions in order to finish a deal by the summer. But Chinese intellectual property theft is a multibillion-dollar drain on U.S. industry.

Details: It's cheaper to steal someone else's trade secrets than do the research and development yourself. China has used the technique to prop up entire industries, which can undersell the firms they steal from by passing savings on to consumers.

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Coronavirus breaks the telecom bundle

Reproduced from Park Associates "Broadband Services in the U.S." report; Note: 2019 survey was conducted in Q3, with 10,059 respondents and a ±1% margin of error; Chart: Axios Visuals

Consumers are adopting stand-alone broadband services at a much higher rate than just two years ago, and analysts predict that the economic downturn prompted by the COVID-19 outbreak will accelerate the trend.

Why it matters: With a recession looming, consumers may look to cut pay TV service in favor of more robust standalone internet packages once they're free to leave their homes.

America's funeral homes buckle under the coronavirus

Illustration: Aïda Amer/Axios

Morgues, funeral homes and cemeteries in hot spots across America cannot keep up with the staggering death toll of the coronavirus pandemic.

Why it matters: The U.S. has seen more than 10,000 deaths from the virus, and at least tens of thousands more lives are projected to be lost. The numbers are creating unprecedented bottlenecks in the funeral industry — and social distancing is changing the way the families say goodbye to their loved ones.

Navarro memos warning of mass coronavirus death circulated in January

Image from a memo to President Trump

In late January, President Trump's economic adviser Peter Navarro warned his White House colleagues the novel coronavirus could take more than half a million American lives and cost close to $6 trillion, according to memos obtained by Axios.

The state of play: By late February, Navarro was even more alarmed, and he warned his colleagues, in another memo, that up to two million Americans could die of the virus.

Go deeperArrowUpdated 2 hours ago - Health