Suddenly, The Future Workplace Is Here - Forbes

Long-time bear David Rosenberg doesn't hate stocks right now. Here's why - CNBC

One of Wall Street's biggest long-time bears is signaling a shift.

David Rosenberg is toning down his negativity — asserting he doesn't hate stocks right now in a recent research note.

"There are some segments of the market that I actually really like," the Rosenberg Research chief economist and strategist told CNBC's "Trading Nation" on Thursday.

With the Federal Reserve intending to keep interest rates low for an extended period due to the coronavirus pandemic, Rosenberg is finding groups with yields and strong cash flows attractive.

"I want the yield. So, I like utilities. I like telecom, at least the ones that have financial depth. I actually like residential REITs," he said. "I still like consumer staples and I barbell that with gold."

Most wouldn't consider that an aggressive portfolio. But Rosenberg, who served as Merrill Lynch's chief economist from 2002 to 2009, has come a long way from his 2019 recession prediction. 

He even likes widely-held tech stocks.

"You could almost argue Microsoft in a way has almost become a utility. You can look at Amazon, [in the] same sort of way," added Rosenberg. "There are some companies here that you would think as being say cyclical in orientation, but actually emerged here as things that we need."

Rosenberg may be softening his negative stance, but he acknowledges the economic recovery will be rough.

"It's reasonable to assume the eye of the storm is this quarter, and that we're going to get a recovery in fits and starts probably for the next year," he noted. "It's going to be a very feeble recovery, and I think what happens is the market will run ahead of itself."

'Turn bullish in a heartbeat'

He adds there's one vital factor that would push him squarely into the bull camp.

"This big bear would turn bullish in a heartbeat if a vaccine were right around the corner," Rosenberg said. "We get a vaccine, it's a total game changer."

David Rosenberg has no disclosures.

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Here’s Why You’re Feeling Zoom Fatigue - Forbes

Texas businesses can open Friday. Here are more questions and answers about the plan to reopen the state - The Dallas Morning News

Starting Friday, restaurants and many retail stores have the choice to reopen their doors to the public under an executive order announced by Gov. Greg Abbott this week.

The openings are part of the first phase of Abbott’s plan to reopen the state. Since the announcement, North Texans have had questions about the plan, including whether the limit on 10-person gatherings is still in place, what happens to local emergency orders and whether alcohol to-go is still available.

Here are more answers to key questions about the order submitted by Dallas Morning News readers.

Will I receive unemployment benefits if my doctor says I should not return to work?

Abbott said Thursday that Texans who can’t go back to work because of health-related concerns will be allowed to receive unemployment benefits.

In new guidance that Abbott gave the Texas Workforce Commission, those workers include: people diagnosed with COVID-19 or who live with someone who has been diagnosed; people quarantined because of COVID-19 exposure; people who are at high risk of COVID-19 complications because of their age or who live with someone at high risk because of their age; and people who cannot obtain child care.

Other cases will be reviewed on a case-by-case basis.

“Our top priority is protecting the health and safety of all Texans — especially those who are most vulnerable to COVID-19,” Abbott said in a statement.

Are day cares and preschools open for nonessential employees?

No. The first phase of Abbott’s order does not change the guidelines for child care services, which say state-licensed child care centers are open only to essential workers, such as health care providers and first responders.

Even though some people who work in restaurants, retail stores and malls are returning to work, they are not considered essential and won’t have access to the centers.

It is not clear when day cares and child care centers will be able to open up to nonessential workers. At the news conference announcing the reopenings, Abbott said the state’s goal “is to find ways to expand those resources and make them available, in a safe way, to more workers across the entire state.”

Will the DMV be open?

No, Texas Department of Public Safety offices will not be reopened under the new order.

It’s not clear yet when DPS offices will be open, but Abbott previously extended the expiration dates of Texas drivers licenses. If you need to renew your license, you’ll be able to do so for 60 days after DPS resumes operations. Other services are still being offered online or by appointment.

Are courts reopening?

No. Abbott’s order doesn’t require local courts to reopen their buildings. The only government operations allowed to reopen Friday are “local government operations, including county and municipal governmental operations relating to permitting, recordation, and document-filing services, as determined by the local government.”

The Dallas Municipal Court is still closed to the public, but some services can be provided remotely. Criminal, district and family courts in Dallas County have closed and suspended most operations until early May, at the earliest.

What about offices with more than one employee?

Abbott’s order allows services provided by one person in an office to reopen. Offices with more than one person that weren’t previously deemed essential should remain closed under the order.

Are any live music venues or performance centers reopening?

No. Live music venues and performance centers are not included in Abbott’s order.

American Airlines Center has canceled most events through the summer and the Bomb Factory has continued to announce cancellations. The Morton H. Meyerson Symphony Center has canceled all concerts through the end of May, and Moody Performance Hall also has canceled most upcoming events.

Does the plan apply to Dallas parks and playgrounds?

No. Abbott’s order does not make a reference to parks or playgrounds. In Dallas, all recreation centers, playgrounds, soccer fields and basketball courts are still closed. The order does allow golf courses to reopen, and Dallas will be opening its golf courses, gun ranges and tennis courts, with some restrictions.

Will overnight camping at state parks resume?

No. Abbott’s plan did not say when state parks can return to normal. They are open only for day use, and it’s not clear when other services will be available.

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Jobless claims surge to more than 30 million — here's what to watch - CNBC

Optimistic path to recovery 

Eugene Scalia, U.S. Labor secretary, said there is optimism for the path to recovery.  

"It's just a very high number but a couple of quick notes about it. One, the president and Congress moved very swiftly in March to address this, including with the unemployment enhancements made in the CARES Act. As of last Tuesday, all 50 states and the District of Columbia are now paying that additional $600 supplement that the president signed off on in the CARES Act. So that's valuable relief that's on the way to states. ... They've got some old computer systems, but we are working with them at the Labor Department to help get these payments out. And then the second point that I do think is important, as difficult as it is to see this many Americans unemployed, we came into this period of unemployment by a very different path than say in the Great Recession, and we'll go out by a different path and there's some reason for optimism there, too."

Reaching a new bottom 

Komal Sri-Kumar, president of Sri-Kumar Global Strategies, said there is still more downside in sight.

"Positive impact on the economy is going to take quite some time, not only in the second quarter that Chairman Powell talked about -- the third, fourth quarters are likely to be difficult as well. None of those is figured into equity prices, and that is my concern in terms of looking at ... what investors should be doing at this time. Demand is going to fall off­ – aggregate demand, demand for consumption, demand for investment goods – are going to fall off much more than investors have given it credit for. Once that is taken into account, I think the equities have a second leg down. And I don't think this is going to be any different than what we saw in the final quarter of 2008, and not bottoming out until the March of 2009. We have a rally, which to me still seems like a bear market rally." 

Repair of the consumer psyche

Steve Mollenkopf, CEO of Qualcomm, said the most challenging aspect to recovery is repairing the consumer psyche. 

"I think the next phase that business leaders are going to be looking for, is how do we make sure that the psyche of the consumer is repaired as quickly as possible? And I think that's one of the more challenging aspects. I don't have any great idea as to how to do that, but I think that's the thing that will have the biggest impact to business worldwide. It's not so much how they operate internally, but how does the market repair itself? How does the consumer feel comfortable to do many of the things that the broad economy needs for it to be successful?"

'A tale of two cities' 

Stephen Weiss, founder and managing partner of Short Hills Capital Partners, said the economy and the market are a "tale of two cities."

"Unquestionably the market should not be where it is; without a doubt. It's a tale of two cities right now. You've got a disastrous economy, with no real signs of improvement, and you've got a market that's had just an amazing move higher. As we see companies cut capex, that's going to filter through the whole economy, but yet, there are some companies that are going to do well." 

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Here’s our Braves Mount Rushmore — feel free to differ - Atlanta Journal Constitution

The challenge, dear bored, stay-at-home sports fans, is to use this wealth of down time as frivolously as possible.

Sure, you could shock the neighbors and work in the yard before getting the letter from the homeowners association. Learn a foreign language online. Build new, stronger bonds with the family. Maybe begin your memoirs.

But, first, let’s engage in a purely hypothetical exercise of designing monuments to the sporting deities that never will be built. Now that’s useful.

Begin with the Braves, and the four cornerstone contributors since the team’s move to Atlanta in 1966. Who might they be? More important, who do you leave out and forever leave behind with the Biff Pocorobas and the Rowland Offices, no matter how worthy they may be?

» VOTE: Top 4 Atlanta Hawks of all-time

It is so difficult to pare down to just four. By comparison, what a breeze it must have been to come up with four proper presidential mugs to be carved in granite in South Dakota because, let’s be honest, how many really good ones of those have we had?

It took 14 years to complete that Mount Rushmore. This project should take somewhat less time seeing how it’s sculpted out of air.

We asked readers to put down the remotes and vote for their Forever Four, their Braves Mount Rushmore (the Hawks and Falcons, Bulldogs and Yellow Jackets are pending). The greatest of the greats. The crème de la tomahawk.

Then we took the views of 2,819 voters and ran them through the kind of subjective, you-can-get-stats-to-say-anything kind of analysis that only sports can offer. We agreed with the top three and made a bold editorial decision on the fourth member. Hey, fans don’t get to vote for every All-Star either.

There was a landslide at the top of this mountain, the first two Rushmoreans appearing on at least 90% of the ballots. Then it gets really close and contentious. Good. Because the whole point of this is to stoke a bonfire of unsettled debate.  

No, it’s not scientific. Not all voters came up with four names EVEN THOUGH THAT WAS EXPRESSLY REQUESTED, PEOPLE. We’re fairly certain that no members of the old Eastern Bloc hacked the election since Al Hrabosky received zero votes. And as for the owner of one IP address that tried voting 30 times: Like the effort. Really question the life choices.

The Two Shoo-Ins

Hank Aaron, the all-time home run leader among those not juiced to the gills, can’t be immortalized enough. This honor may not quite reach the level of his Presidential Medal of Freedom, the Order of the Rising Sun (Japan) or the Hank Aaron Award given each year to the best overall hitter in each league. Still, his place on this make-believe mountain is bestowed with great affection. 

And if we’re being honest here, he really should have a stadium in Cobb County named after him, too, if the team and the banking industry had any conscience.

That he was on only 93% of the reader ballots cast is a travesty, just as it was that only 97.83% of the Hall of Fame voters elected him in 1982. That speaks more about those casting the votes then the man not receiving them.

Yes, Aaron was Milwaukee’s best, too — see they even have a beer named after him. He played nine years in Atlanta compared with 14 in Milwaukee as both a Brave and a Brewer (his last two seasons, retiring at 42). He had 54% of his 755 career home runs, 65% of his 3,771 hits, and 61% of his MLB-record RBIs as either a Milwaukee Brave or a Brewer. His one MVP came with Milwaukee.

Yet, he gave us the night of April 8, 1974 — enough said. That’s when his 715th homer, the one eclipsing the mythic Babe Ruth, the one that transferred baseball’s most cherished record to the man who began his professional life with the Mobile Black Bears and the Indianapolis Clowns of varied Negro Leagues, left the yard at Atlanta Stadium and found Tom House’s glove in the Braves bullpen.

Factor in his post-playing days as a Braves executive and as an important civic figure in his adoptive city for 44 years since his last at-bat, and Aaron is the ultimate Brave. 

By the way, of the second player who made the biggest noise in the reader poll — Chipper Jones, with 90% — Aaron once said, “I knew he was gonna grow up to be a Hall of Famer if he didn’t get injured.” And Jones did get injured, tearing up a knee in a spring game in 1994, yet still was a first-ballot Hall of Famer.

Aaron was a Braves senior vice president overseeing the farm system when the team drafted Jones first overall in 1990. The general manager was Bobby Cox, who is up there on that Braves Rushmore, too. They’ll have plenty of old times to talk about.

Born in the so-called “Fern Capital of the World,” Pierson, Fla., Jones became as much a part of Atlanta as traffic on The Downtown Connector and new stadium construction. In an age of player migration, he was a Braves lifer, in 18 years establishing the Atlanta-era Braves record in most every offensive category (468 home runs, 2,726 hits, 1,623 RBIs). 

He was a shortstop moved to third. He played the outfield because the Braves briefly required him there. Whatever it took. And if you grew in the Atlanta area in the 1990s and early 2000s without a No. 10 Braves jersey, that was considered neglect.

Toward the close of his 2018 Hall of Fame acceptance speech, Jones paid homage to the home fans: “You’re the reason I never wanted to play anywhere else. I couldn't be prouder to go into the Hall of Fame today with an Atlanta ‘A’ on my cap.” The feeling was mutual.

Now it Gets Tricky

It was warming to see that No. 3 in the reader’s mind, appearing on 54% of the ballots was Cox. We concur, only more definitively.

Because the Braves won “only” one World Series during their unprecedented run of 14 consecutive division titles (1991-2005), many fans tend to believe Cox underachieved, especially given the starting triumvirate of Tom Glavine, Greg Maddux and John Smoltz. At the same time, someone had to get them through the long haul of a season to all those Octobers.

His is a complicated legacy, balanced between the postseason disappointments and the 14 times his Braves teams won 90 or more games in a season — six times more than 100. (Here we’ll mention that as a GM, he also swung the best trade in Braves history, landing a minor league pitcher named Smoltz from Detroit for Doyle Alexander in 1987).

Someone has to manage the Braves elite and keep them happy for posterity. And who else you going to go with, Luman Harris?

The fans’ fourth was Maddux (51%), but you may note that his crooked smile is not up there on this mountaintop. Nor was the fans’ fifth pick, Smoltz (42%). Nor the sixth, Dale Murphy (39%).

That spot was reserved for Glavine (on just 23% of the readers’ ballots), by virtue of the fact that he won the most important game in team history – his eight-inning, one-hit shutout of Cleveland in the World Series-winning game in 1995. That some fans turned on him when he became a prominent union man during the ’94 strike shouldn’t be held against him.

He can’t stand with Maddux for overall excellence and the three consecutive Cy Youngs he won here. But Glavine won 50 more games as a Brave than did Maddux (244 of Glavine’s 305 career victories were as a Brave). Glavine’s plaque in the Hall of Fame bears the Atlanta ‘A.’ Because of initial loyalties to the Chicago Cubs, Maddux went in with his bronze cap unlabled.

And Glavine didn’t possess the same dominant arm as Smoltz, nor did he have his varied resume of starting and closing. But there is room for a crafty craftsman in this collection.

That one game was just such a defining franchise moment. And as Jones once said, “There is nobody more fitting to have on the mound for our crowning moment in 1995 than him.” 

That last spot was going to be a gnarly one, no matter how it went. Here we’re leaving out perhaps the most likable Brave ever, the two-time MVP Murphy. And if you appreciated Glavine’s guile, how could you not love Hall of Fame knuckleballer Phil Niekro (268-230 with the Braves between 1966-83, throwing 4,220 innings over that time)? The architects in the audience no doubt will be howling for long-time GM John Schuerholz.

Such a frivolous and imprecise exercise. Let the carping commence.

BRAVES MOUNT RUSHMORE

Results of fan voting for top four Atlanta Braves. In all, 12,032 votes were cast by 2,819 voters in The Atlanta Journal-Constitution online poll:
• Hank Aaron, 2,612 votes, 93%
• Chipper Jones, 2,549 votes, 90%
• Bobby Cox, 1,530 votes, 54%
• Greg Maddux, 1,441 votes, 51%
• John Smoltz, 1,174 votes, 42%
• Dale Murphy, 1,097 votes, 39%
• Tom Glavine, 649 votes, 23%
• Phil Niekro, 455 votes, 16%
• Ted Turner, 331 votes, 12%
• Andruw Jones, 194 votes, 7%

Support real journalism. Support local journalism. Subscribe to The Atlanta Journal-Constitution today. See offers.

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Here's Why NeoGenomics Is Tumbling Today - Motley Fool

What happened

Shares of NeoGenomics (NASDAQ:NEO) fell as much as 10.6% today after the company announced two fundraising transactions. The one dragging down the stock price today is the public offering of common stock. The oncology reference lab intends to offer up to approximately 5 million shares at $28.50 apiece. If all shares are gobbled up by investors, then the company would realize gross proceeds of up to $144 million.

Whereas the public offering of common stock will dilute shareholders immediately, the other fundraising transaction, an offering of convertible debt, is a more distant concern. NeoGenomics will sell $175 million in 1.25% convertible debt that comes due in 2025. The debt is called "convertible" because it can be cashed in for shares of common stock but likely not until the maturity date in the middle of the decade. It basically represents the potential for future dilution, although the company can also purchase the debt with cash.

The two fundraising transactions could provide the business with up to $319 million in gross proceeds. Investors tuned into management's strategy don't have to be too imaginative to guess what the proceeds will be used for. As of 11:22 a.m. EDT, the growth stock had settled to a 9.2% loss.

Image source: Getty Images.

So what

NeoGenomics has been feeling the pinch from movement restrictions put in place by governments trying to slow the coronavirus pandemic. On the first-quarter 2020 earnings conference call, management said test volumes had fallen by 25% to 30% in April compared to the year-ago period.

Despite the impact on the company's growth trajectory and bottom line, NeoGenomics said it will not lay off or furlough employees. Instead, the business has committed to keeping employees engaged so they're ready for an expected surge in test volumes when movement restrictions are lifted.

But weathering short-term uncertainty isn't the most likely use of the latest fundraising. NeoGenomics said it has no plans to depart from its growth and expansion strategy, which relies heavily on acquisitions in the highly fragmented genetic testing space. Therefore, investors might expect the company to be on the prowl to bail out smaller peers that fall on hard times during the unfolding economic uncertainty.

Now what

NeoGenomics exited March with $86 million in cash. The latest fundraising transactions will lift that to more than $350 million once fees are deducted. In other words, the oncology reference lab will soon have one of the highest cash balances in recent memory. Considering the coronavirus pandemic is only expected to result in a temporary slowdown, and the underlying business is the strongest it's ever been, investors with a long-term mindset might be intrigued about what happens next.

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Tim Patroli Covid -19 Polres Pangkalpinang,Tutup Paksa Cafe Fredoom 24 - DetikNews.ID

PANGKALPINANG — Pembatasan jam buka toko, warung, kafe, dan lainnya di tengah wabah Virus Corona (Covid-19) masih banyak yang dilanggar.

Seperti yang terjadi di salah satu cafe yang bernama Fredoom 24 bertempat di jalan Ahmad Yani samping JNE Kota Pangkalpinang, pada Kamis (30/4/2020) malam. Tempat cafe tersebut ditutup paksa oleh Tim Patroli Covid-19 Polres Pangkalpinang. Selain itu kepada pemilik cafe di bawa ke Polres Pangkalpinang.

Kabag Ren Polres pangkalpinang Akp junaidi dikonfirmasi, membenarkan adanya tindakan penutupan warung makan tersebut. Menurutnya langkah yang diambil oleh patroli Satgas Covid-19 Semua dilakukan untuk kebaikan bersama.

AKP Junaidi mengatakan,” Imbauan dari pemerintah jam buka untuk usaha sampai pukul 22.00 Wib. Tetapi warung tersebut buka lebih dari jam tersebut. Itupun tidak langsung ditindak. Sebelumnya sudah disampaikan melalui pemasangan stiker maklumat Kapolri dan peraturan pemerintah daerah serta sosialisasi dengan menggunakan mobil Patroli untuk menginformasikan imbauan pemerintah,”terangnya.

“Ini untuk kebaikan kita bersama. Kalau matinya sendiri tidak masalah. Virus ini kan menyebar ke orang lain. Saya mengajak masyarakat untuk ikuti semua arahan atau imbauan pemerintah. Kalau mau buka lebih lama caranya harus dibuka lebih cepat,” tutur AKP Junaidi.

AKP Junaidi juga mengaku sering mendapatkan dumas karena resah dengan tindakan dari pemilik kafe yang buka sampai larut malam.

“Kami berharap partisipasi masyarakat untuk bersama-sama melakukan pemantauan wilayah. Kalau ada ditemukan yang melanggar beritahu kami. Saya perlu tekankan juga untuk tidak bertindak di luar kewenangan. Pelanggar yang membandel pasti kena sanksi.(eko/red)

Sumber : Humas Polres Pangkalpinang

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Here’s how Blue Origin’s human lander system will carry astronauts to the lunar surface - TechCrunch

Blue Origin was among the companies selected by NASA to develop and build a human lander system for its Artemis missions, which include delivering the next man and first woman to the surface of the Moon in 2024. The Jeff Bezos-founded space company chose to deliver a bid that included a space industry “dream team” of subcontractors, including Lockheed Martin, Northrop Grumman and Draper, and its Artemis Human Landing System will use the expertise of all three.

The Blue Origin bid was one of three that ended up winning a contract form NASA, alongside SpaceX’s Starship and a human landing system developed by Dynetics working with a range of subcontractors. Blue Origin originally debuted its vision of a human lander last year, first with the unveiling of its Blue Moon craft in May, and then with the announcement of its cross-industry “national team” at IAC later in the year.

Now, the company has released an animation of how its landing system will work, including Blue Moon docking with a transfer element to bring astronauts over from the Orion capsule that will carry them to the Moon from Earth, as well as the descent stage to actually land, and the ascent stage to take off again from the disposable lander platform and return the astronauts to their ride home.

Here’s where each company is involved and what they’re contributing to what you see above: Blue Origin is building the lander proper, which is that platform with legs you see first in the video, and which is left behind on the Moon at the end. Lockheed Martin is building the bubble-like vehicle that attaches to the lander, and which takes off from it at the end. Northrop Grumman is building the long cylinder that connects up with the lander and provides its propulsion through low lunar orbit as it readies to land, and then disconnects before the actual descent. Draper is behind the senses across all of this, delivering avionics for flight control and the landing itself.

As mentioned, Blue Origin is one of three companies selected by NASA to develop these lander systems, but its team brings to the table a lot of combined expertise in spaceflight and spacecraft development. The launch system itself will arrive separately from the astronauts on board Orion, making the trip either via a New Glenn rocket built by Blue Origin, which is still in development, or via the United Launch Alliance’s Vulcan, another in-development spacecraft set to take off for the first time next year.

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CBDCs Come in Many Forms – Here's a Quick Guide - CoinDesk

George Calle is Market Intelligence Lead at R3, an enterprise blockchain software firm. 

In just a few short years, digital currencies have progressed hugely. But while the early adopters of cryptocurrencies dreamed of entirely new digital coins transforming the way we pay for things, the volatility of cryptos like bitcoin has made this vision impossible, to date. As a result, the most common retail use for digital currencies is speculative trading.

Yet, the underlying technology has been adopted by the largest financial institutions in the world, providing significant efficiencies and opening new business opportunities. Now, even the world’s central banks are looking at how to bring blockchain-based payment tokens back to the retail markets. 

Central bank digital currencies (CBDCs) are in active pilot across the world (see our recent report). The People’s Bank of China has its digital yuan project and Sweden’s central bank, Sveriges Riksbank, has announced a pilot for a digital version of its currency for retail use, dubbed the e-krona. The U.S. Federal Reserve, the Bank of England, the Bank of Japan and the European Central Bank are all exploring the technology.

See also: Ajit Tripathi - 4 Reasons Central Banks Should Launch Retail Digital Currencies

The global pandemic has given additional impetus to this trend. The Bank for International Settlements (BIS), the so-called “central banks’ central bank,” recently said contaminated bills may be the catalyst for central banks to deliver a digital cash alternative for payments. Similarly, members of the U.S. Congress have recently called for a “digital dollar.”

In part, central banks are responding to challenges from private-sector initiatives, such as the Facebook-backed Libra Association. In addition, CBDCs also suggest substantial benefits for general purpose use which make them highly attractive in their own right. The digital nature of the currencies will modernize payments, making them more efficient and financially inclusive. Additionally, depending on the implementation, they could lead to a more transparent retail payment system, reducing black market trade. Meanwhile, central banks may benefit from easier facilitation of monetary policy and an increase in revenues. 

Recent CBDC models take a collaborative approach with the private sector. For example, the Bank of England is researching what it calls the “platform model” in which the central bank is the only entity allowed to create or destroy a token, while leaving “payment interface providers” (PIPs) to interact with end users. 

The proposal gives PIPs the responsibility to maintain Know-Your-Customer (KYC) checks, while providing them with the freedom to build customer relationships and differentiate themselves by providing additional services on top of the core payments. 

Others have gone a step further. Researchers at the International Monetary Fund recently coined the term synthetic CBDC (sCBDC) to describe a model in which a non-central bank entity, such as a commercial bank, can issue a stablecoin backed by central bank reserves.

The most common retail use for digital currencies is speculative trading.

Blockchain is crucial in enabling the tokenization of payment assets, allowing for peer-to-peer transactions and distributed custody. Additionally, blockchain enables atomic transactions, which means any conditional payment scenario, such as the delivery of a security in exchange for payment (DvP), can occur, in real time, without risk that one leg of the transaction will execute before the other.

Digitizing the payment methods on blockchain enables easy connectivity into a growing tokenized financial ecosystem. This could include the facilitation of faster and cheaper cross-border payments, as well as tying CBDCs into other token uses, such as the new crop of ‘digital exchanges’ using blockchain to combine trading and post-trade services into a seamless whole. For example, the Swiss National Bank is working with the SIX Digital Exchange to explore how market participants can settle tokenized assets on the exchange with central bank money.

See also: Inside China’s Plan to Power Global Blockchain Adoption

Finally, blockchain also sets the architecture for a more secure payment system in which there is no centralized point of failure for hackers to attack.

Looking forward, we can imagine a completely new architecture for money – a step change as significant as the invention of the credit card. Widespread access to CBDC will be key for central banks to fulfill their mandate of offering modern payments solutions. Additionally, it will catalyze connectivity between the general public, corporations and the financial industry with parallel innovations currently being built out by firms leveraging blockchain in non-payments related areas, such as tokenized exchanges or HQLAx’s collateral and liquidity management platform as just two examples. Central banks have a tremendous opportunity to orchestrate and provide purchasing power into this ecosystem.

Ultimately, we are likely to see a variety of uses for CBDCs in the retail space and a number of different implementations. Some central banks will issue CBDC directly to the general public. In other cases, a financial institution with a central bank account could issue stablecoins backed by reserves. Additionally, access may be facilitated through a network of financial institutions and payment companies that distribute CBDC to their customers.

In such a model, the job of the designated provider would be to manage and monetize that client relationship and deliver a superior user experience, in competition with other designated financial institutions, fintechs or payment companies. It provides the benefits of tokenized money to those who want it, and the benefits of simple account based services to those who don’t want to manage private keys.

Whatever the exact CBDC implementation in the retail space, it will have important benefits for a wide variety of institutions, from banks to corporate treasury departments to payment networks open to the general public.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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There’s A Deadpool Mini-Game In ‘Fortnite’ — Here’s How To Play It - Forbes

Inbox: They're missing the real story here Cheer for the Packers, cheer for Aaron Rodgers - Packers.com

Austin from Washington, D.C.

Excited to see the UDFA list! Three were projected by ESPN to be drafted: Tipa Galeai (OLB), Patrick Taylor (RB), and Stanford Samuels III (CB). Each was one of the top undrafted players available at his position. Darrell Stewart (WR) also appears to be one of the best receivers left, which might ease some fans' angst. What stands out to you about the 15 newcomers, Insiders?

If not for the 40 time in Indy, Samuels likely would've been drafted. A junior entrant in the draft, Samuels has good size and man-coverage skills. The Packers will start him at cornerback, though some pundits floated the idea out there about a potential move to safety. Time will tell. Also, keep an eye on Marc-Antoine Dequoy out of Montreal. He's a 6-3 corner who clocked a 4.36 in the 40 and 6.65 in the three-cone at his pro day. That's the hype.

Corey from Henderson, NV

First, love the Stewart signing. Those numbers are eye-popping, and I'm hoping some of that translates to the NFL. However, can you help explain the Jalen Morton signing? They drafted Love, and then cut Wilkins...only to sign a UDFA QB? Is this more because he's a gadget kind of player (passing, rushing, receiving TDs) and the league is going in that quasi-direction? What did they not see in Wilkins that they see in this kid?

We don't know what went into the decision to release Wilkins, so I'm going to steer clear of that move until Gutekunst speaks on it. Morton had a decorated career at Prairie View and received a combine invite based on his size (6-4, 226) and pro arm (NFL.com reported he could throw a ball 64 yards flat-footed). He's raw and needs to refine how he works through his progressions, but there's real ability there.

Steve from Wichita, KS

I will admit, I drank the Kool-Aid and am upset at some of our draft picks. I wanted one of the top WR or LB coming into the draft. After reading our GM's comments, I can understand what he felt about the WR class after the top ones left. Another year in the system, flexibility with players and scheme I think will make for a better team next year.

I can tell you there was only one time I objected to the Packers not drafting a specific position – when they didn't take a safety in 2013. It was so blatantly obvious they needed one that year. Green Bay has Davante Adams, Allen Lazard and Devin Funchess at the top of its depth chart. That's a much better trio than fans give it credit for, especially when you factor in what the Packers have at running back and tight end.

Jason from Austin, TX

Being a team that grounds and pounds the ball through their opponent should serve us well when the cold weather hits, right?

Fans are so fixated on the receivers they're missing the real story here – the Packers appear to be building their offense around the ground game and it is an exceedingly deep backfield, perhaps the deepest they've had in 15 years.

Darren from Wakefield, MI

How long does it take a rookie safety such as Vernon Scott to be a contributor? He can run but he can't be Micah Hyde, right?

I like his versatility. Scott was only a one-year starter so I don't expect him to come in and compete for a defensive role right away, but he's a core-four player on special teams. That should hasten his transition to the pros.

Mike from Whitefish, MT

Packers.com's April 27 video "Every Green Bay Packers pick shown from the 2020 NFL Draft" omitted our eighth pick, Vernon Scott. Will you correct that and apologize to Mr. Scott? Or, if there's no NFL Network tape on his selection, will you at least insert some Instant Reax and/or Remix footage or, failing that, insert the word "Almost" at the beginning of this video's title?

They didn't show it on NFL Network. I did an Instant Reax on Scott, though. That'll be quite the story if Scott becomes a Pro Bowler someday.

Tony from Lincoln, CA

Hi there! I and my wife love II. Could the articles trying to create an issue between AR and ML do just the opposite? I imagine all the hagga-gazza inspiring Love, Rodgers, the Packers' receiving corps, and the defensive front seven to ball-out, every game like never before. Kind of like the '90s Bulls when they all bought into Jackson's system. That's my hope, anyway.

All this speculation and innuendo is cute. Whenever sanctions are lifted and football resumes, however, I expect to see a laser-focused Rodgers who's more motivated than ever to win a championship. Water is wet, fire burns and Aaron Rodgers remains one of the best QBs alive.

Eddie from La Crosse, WI

When Wes is asked for his opinion on what Favre said about Rodgers, I hope and pray that he will respond with: I...D...C...

There is one man whose opinion I care about regarding this topic and it's not Brett Favre's. Moving on.

Larry from Cumming, GA

Elgton Jenkins had a fabulous rookie season at LG. Given his athletic comparison to Bryan Bulaga and Green Bay drafting potentially three guards, do you think we'll see Jenkins at RT in camp?

If it's me, I leave Elgton Jenkins at left guard for the next 10 years and focus my attention elsewhere. Mission accomplished with that second-round pick last year.

Chris from Victor, ID

Let's put it this way. The Packers weren't just one (rookie) slot receiver or faster (rookie) coverage linebacker away from beating San Francisco last season.

If you build a team specifically to beat the 2019 49ers, then you get ready to lose to the 2020 version. Because San Francisco isn't staying the same, either. The game is constantly evolving, so you better be changing with it.

Thomas from Scottsdale, AZ

Hey guys, what's your take on the stat about Rodgers only throwing one TD to first-round picks over the years. Cherry-picked stat or is this actually indicative of anything?

What a can of bologna that stat was. Now can we get a list of touchdown passes thrown to second-round picks, please? It's not like Ted Thompson and Brian Gutekunst asked Rodgers to win with Spoff and me playing receiver.

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McDonald's says this quarter's same-store sales will be worse. Here's why - CNBC

McDonald's is expecting steeper same-store sales declines in the second quarter as international restaurant closures due to the coronavirus pandemic continue to weigh down sales.

McDonald's global same-store sales shrank 3.4% in the first three months of the year after plunging 22% in March.

"Looking at comparable sales, we expect the second quarter as a whole to be significantly worse than what we experienced for the full month of March," CEO Chris Kempczinski told analysts on the conference call.

More than half of restaurants in McDonald's international operated markets segment, which includes France and Australia, are closed. Four countries in the segment — the United Kingdom, Spain, Italy and France  — have closed down restaurants entirely to slow the spread of the virus. In April, the segment's same-store sales are down about 70%. 

Kempczinski said on CNBC's "Squawk on the Street" that it is difficult to generalize how the company is recovering as countries in Europe and Asia allow restaurants to reopen. 

Locations in France and Austria are showing signs of pent-up demand as they reopen with miles-long drive-thru lines. But in China, where 99% of restaurants are open, consumers have been slower to resume their old habits, with same-store sales still declining by mid-teens. 

"It's really a country-by-country situation because each country's going through a different level of opening, each country has a different consumer psychology," Kempczinski said. 

In the United States, same-store sales are showing signs of improvement. From mid-March to mid-April, sales at locations open at least a year tumbled 25%, but McDonald's estimates that April's same-store sales only fell 20%. 

Shares of McDonald's dropped 2% in morning trading after the company reported first-quarter earnings, which fell 17% compared to a year ago. The stock, which has a market value of $141 billion, has fallen 7% so far this year.

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Nintendo Switch and 'Animal Crossing' are quarantine bestsellers. Here's why - CNN

The Switch has even attracted a new wave of fans who were once disinterested in gaming.

"Animal Crossing: New Horizons," Nintendo's latest game release set on an idyllic island getaway, has fueled much of the success. It even has its own version of the stock market, where users can sell their turnips to raccoon characters at five or six times the going rate to get rich. In March, it sold 5 million digital copies, the most digital copies of a console title in a single month, according to Nielsen's SuperData, which analyzes the gaming industry.

"Animal Crossing" was also the best-selling physical game in the US in March, according to Mat Piscatella, executive director of games at research firm NPD Group. Nintendo declined to comment.

I never liked video games ... until now

Stephanie Cheng, a 27-year-old software engineer at a San Francisco solar start-up, told CNN Business that she never used to like video games. She grew up playing the classic arcade game 'Snake' on a Nokia phone.

But her boyfriend works in gaming and she said it's a pretty "big part of his life."

"Any time I would play, I never really got hooked into it. I would always get bored very quickly," said Cheng.

That changed with "Animal Crossing." She bought her own Switch Lite and a copy of the game after trying it out on her boyfriend's Switch.

"I thought it was really fun. I really like to organize things and manage things... You can control every aspect of your island so I found that compelling," Cheng said. "And it's really cute, compared to other video games I've played."

A haven for stay-at-homers

The Nintendo Switch likely sold around two million units in March, according to Michael Pachter, an analyst at private financial services firm Wedbush. Nintendo will release unit sales during its next earnings call which is scheduled for May 7.

"People are confined to their home and the Switch is appropriate for all ages, so parents and children can enjoy the device," said Pachter.

Nintendo is the current market leader, selling more consoles than Microsoft (MSFT) or Sony (SNE). The Nintendo Switch was the bestselling console in the US in March, with sales doubling compared to last year, according to Piscatella of NPD Group.

Piscatella said that the Switch has found success for many reasons, but ultimately it's the "breadth and depth of content" that has helped the console find fans.

Nintendo has plenty of exclusives in addition to "Animal Crossing," including "Mario Kart 8 Deluxe" and "The Legend of Zelda: The Breath of the Wild," and it also has third-party titles like "Fortnite."

A taste of post-pandemic life

The small size and portability of the device's design also makes it a good fit for casual gamers who already enjoy mobile gaming, said Laine Nooney, an assistant professor and historian of video games at New York University.

Marian Diaz, 51, director of thriving in ministry at Catholic Theological Union, a graduate school of theology, said her daughter got her to start playing "Animal Crossing" on the Switch a couple of weeks ago. Diaz said she used to play "Pac-Man" at the arcade within a restaurant or bowling alley but never had a console growing up. The most she did was borrow a friend's Atari.

"In terms of gameplay, I mostly enjoy walking along the beach collecting seashells and fishing. In a strange way, the game is bringing back childhood memories," said Diaz. "Hopefully, the game is a taste of my post-pandemic life!"

In New York, Sharon Yang, 26, a financial analyst, shares a Nintendo Switch with her boyfriend to play "Animal Crossing." Growing up, Yang played mostly Neopets, a web browser game where you care for virtual pets. Before the quarantine, Yang said she had never thought about actually buying a Switch.

Yang "started getting really restless from staying home for the first six weeks" and she noticed many of her friends were posting photos of the game online, so she decided to spit the cost of a Switch with her boyfriend in April.

"The best thing about the game is that it's allowed me to stay connected with my friends and even friends that I haven't talked to for a while without needing being forced to talk about everything that's going on," she said. "I don't believe that I would have picked up this game or played for very long if we were still going outside. But in this situation, I'm glad that it distracts me."

New competition is around the corner

Why not Xbox or PlayStation?

People are holding out on buying an Xbox or PlayStation because "everyone knows the next generation of those products drops this holiday season," said Nooney, the NYU professor. Both consoles are still slated for release in holiday 2020, despite the ongoing pandemic.

The Switch was released more recently than its competitors and its novelty hasn't worn off yet.

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The April stocks rally defied the odds. Here’s what’s driving markets - Fortune

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