
<p id="h-topline"><strong>TOPLINE</strong> A new U.K. study has found that more than 95% of Britons vaccinated with just one shot of the Pfizer or AstraZeneca vaccine develop Covid-19 antibodies, a figure that rises to almost 100% after the second dose, adding to mounting evidence from the real-world deployment of the vaccines that show they are effective and useful tools in bringing the pandemic under control. </p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>In a study of more than 8,500 people from England and Wales, who did not have antibodies before their first shot and provided a total of 13,232 antibody samples, 96% developed antibodies 28 to 34 days after receiving their first dose, according to research from University College London (UCL).</p>



<p>The&nbsp;<a href="https://ucl-virus-watch.net/?page_id=913" target="_blank" rel="noreferrer noopener">research</a>, which is being prepared for peer review, found this figure to rise to 99% within seven and 14 days of their second shot for recipients of both vaccines, evidence that they provide protection against the coronavirus.&nbsp;</p>



<p>While those receiving the Pfizer-BioNTech vaccine developed antibodies faster than those receiving the AstraZeneca shot, rates were practically identical after a period of four weeks.&nbsp;&nbsp;</p>



<p>Many groups at a greater risk from Covid-19—including those with underlying conditions like diabetes and cancer, those taking immune system suppressing drugs and older adults—produced fewer antibodies after a single dose, a potential problem for countries like the U.K. where the second dose is&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2021/05/14/study-finds-12-week-gap-between-pfizer-covid-19-vaccine-dose-generates-35-times-higher-antibody-response/?sh=5fe5400da6a3">delayed</a>&nbsp;by several weeks in order to vaccinate more people.</p>



<p>However, a second shot boosted antibody levels to the standard high levels, something Professor Rob Aldridge, the chief investigator of the study,&nbsp;<a href="https://www.theguardian.com/world/2021/may/18/96-of-britons-develop-antibodies-after-one-covid-jab-study-finds" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the&nbsp;<em>Guardian</em>&nbsp;underscores the “importance of getting the second dose.”&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>



<p>Aldridge described the findings as “reassuring &#8211; vaccines are our way out of the pandemic.”</p>



<h3 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h3>



<p>Dr. Maddie Shrotri, the paper’s lead author,&nbsp;<a href="https://www.theguardian.com/world/2021/may/18/96-of-britons-develop-antibodies-after-one-covid-jab-study-finds" target="_blank" rel="noreferrer noopener">said</a>&nbsp;the findings are from some of the earliest “real-world vaccine studies in the U.K.” Shrotri said the results are “fantastic news,” adding that it is “remarkable” how well the vaccines work given the speed at which they’ve been developed. “It’s a real feat of science in the face of the most devastating pandemic in a century.”</p>



<h3 class="wp-block-heading" id="h-big-number">BIG NUMBER</h3>



<p>57 million. This is&nbsp;<a href="https://coronavirus.data.gov.uk/details/vaccinations" target="_blank" rel="noreferrer noopener">how many vaccines&nbsp;</a>have been given out in the U.K., the vast majority being the Pfizer-BioNTech or AstraZeneca shots. Just over 20 million people have received their second dose.&nbsp;</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.theguardian.com/world/2021/may/18/96-of-britons-develop-antibodies-after-one-covid-jab-study-finds" target="_blank" rel="noreferrer noopener">Covid vaccine: 96% of Britons develop antibodies after one jab, study finds</a>&nbsp;(Guardian)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/2021/05/14/study-finds-12-week-gap-between-pfizer-covid-19-vaccine-dose-generates-35-times-higher-antibody-response/?sh=5fe5400da6a3">12-Week Gap Between Pfizer Vaccine Doses Generates Higher Antibody Response, Study Finds</a>&nbsp;(Forbes)</p>


Healthcare professional in protective gloves & workwear holding & organising a tray of COVID-19 vaccine vials

96% Of People Develop Covid Antibodies After Just One Shot Of Pfizer Or AstraZeneca Vaccine, U.K. Study Finds


<p><strong>TOPLINE </strong>Billionaire Tesla CEO Elon Musk stirred up the cryptocurrency market with his Twitter account again Sunday when he appeared to hint Tesla would cast out its bitcoin holdings, a move that saw the cryptocurrency plunge.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>When a Twitter user&nbsp;<a href="https://twitter.com/CryptoWhale/status/1393981793813078017?s=20" target="_blank" rel="noreferrer noopener">speculated</a>&nbsp;Sunday Musk would ditch bitcoin over the hate the billionaire had received after announcing Tesla would&nbsp;<a href="https://www.forbes.com/sites/joewalsh/2021/05/12/tesla-will-stop-accepting-bitcoin-as-payment-due-to-environmental-worries-musk-says/">no longer accept the cryptocurrency</a>&nbsp;as payment last week, Musk replied with one word: “<a href="https://twitter.com/elonmusk/status/1394001894809427971?s=20" target="_blank" rel="noreferrer noopener">Indeed</a>.”&nbsp;</p>



<p>The vague message was enough to push cryptocurrency investors to sell off their bitcoin, and the price dipped nearly 8.5% down to $44,395 a coin Sunday.</p>



<p>Cryptocurrency is notoriously volatile, but Sunday’s dip was bitcoin’s biggest slump in more than three months and represented one of its biggest drops in value since the price first began to rapidly ramp up in January.&nbsp;</p>



<p>Last week, Musk said Tesla would no longer accept the cryptocurrency until bitcoin, which requires colossal amounts of electricity to work with, shifts to&nbsp;<a href="https://twitter.com/elonmusk/status/1392602041025843203" target="_blank" rel="noreferrer noopener">more sustainable energy use</a>,</p>



<p>Musk said at the time Tesla would not sell off the bitcoin it already had.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Indeed</p>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1394001894809427971?ref_src=twsrc%5Etfw">May 16, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">BIG NUMBER</h2>



<p><strong>$1.5 billion</strong>. That’s how much Musk spent on buying bitcoin just&nbsp;<a href="https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html" target="_blank" rel="noreferrer noopener">three months ago</a>, in preparation for using the cryptocurrency at Tesla.</p>



<h2 class="wp-block-heading">SURPRISING FACT</h2>



<p>Running bitcoin uses&nbsp;<a href="https://www.bbc.com/news/technology-56012952" target="_blank" rel="noreferrer noopener">more electricity</a>&nbsp;than some countries, according to a University of Cambridge study published in February. Researchers said the cryptocurrency burns through 121.36 terawatt-hours annually, roughly the equivalent of used by countries like&nbsp;<a href="https://www.bbc.com/news/technology-56012952" target="_blank" rel="noreferrer noopener">Argentina and Norway</a>.</p>



<h3 class="wp-block-heading">KEY BACKGROUND</h3>



<p>Just two months ago,&nbsp;<a href="https://www.forbes.com/sites/roberthart/2021/03/24/bitcoin-surges-as-elon-musk-says-it-can-be-used-to-buy-teslas/?sh=4e37216b3cb2">bitcoin prices soared</a>&nbsp;when Musk announced Tesla would accept the cryptocurrency as payment for Tesla’s pricey electric vehicles. Musk’s quick reversal last week to suspend Tesla bitcoin payments and the cryptocurrency’s loss of value soon after angered many bitcoin investors, who said the billionaire was&nbsp;<a href="https://twitter.com/PeterMcCormack/status/1393971202738302986?s=20" target="_blank" rel="noreferrer noopener">misinformed</a>&nbsp;about bitcoin’s energy consumption. Musk has&nbsp;<a href="https://twitter.com/elonmusk/status/1393995872413888518?s=20" target="_blank" rel="noreferrer noopener">bickered</a>&nbsp;with and&nbsp;<a href="https://twitter.com/elonmusk/status/1393246529498976258?s=20" target="_blank" rel="noreferrer noopener">made fun of</a>&nbsp;the bitter investors on Twitter in recent days.</p>



<h3 class="wp-block-heading">TANGENT</h3>



<p>Musk is no stranger to playing the cryptocurrency market with his tweets. His current cryptocurrency of choice, <a href="https://www.forbes.com/sites/roberthart/2021/05/14/dogecoin-stages-a-comeback-amid-cryptos-300-billion-crash-soaring-30-as-elon-musk-and-coinbase-signal-confidence/?sh=258f1752672f">dogecoin</a>, is regularly boosted by the eccentric CEO’s Twitter memes and public enthusiasm. </p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="art" dir="ltr">👀</p>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1383103246470811652?ref_src=twsrc%5Etfw">April 16, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3 class="wp-block-heading">FURTHER READING</h3>



<p><a href="https://www.forbes.com/sites/joewalsh/2021/05/12/tesla-will-stop-accepting-bitcoin-as-payment-due-to-environmental-worries-musk-says/?sh=39f2924f6e9f">Tesla Will Stop Accepting Bitcoin As Payment Due To Environmental Worries, Musk Says</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/alanohnsman/2021/05/12/elon-musk-says-tesla-stops-accepting-bitcoin-for-car-purchases-due-to-carbon-energy-use/?sh=34e39d386f85">Bitcoin Tanks After Elon Musk Says Tesla Stops Accepting It Due To Carbon Energy Use</a> (<em>Forbes</em>)</p>



<p><em><strong>by Carlie Porterfield, Forbes Staff</strong></em></p>


gettyimages-1130598362-594×594

Elon Musk Sends Bitcoin Tumbling With A One-Word Tweet


<p><strong>TOPLINE </strong>Israeli air and ground forces attacked Gaza Strip targets Thursday night, as Prime Minister Benjamin Netanyahu vows to extract a “very heavy price” in response to rocket attacks from Hamas militants in the territory — but local news outlets say Israeli troops have not launched an actual ground invasion in Gaza yet.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>Hamas — which controls Gaza — and other militant groups have fired&nbsp;<a href="https://www.nytimes.com/2021/05/11/world/middleeast/israel-gaza-airstrikes.html" target="_blank" rel="noreferrer noopener">hundreds of rockets</a>&nbsp;toward Israeli population centers in recent days, and the Israeli Defense Force has responded with heavy airstrikes that&nbsp;<a href="https://www.cnn.com/videos/world/2021/05/12/israel-palestine-gaza-building-collapse-intl-hnk-vpx.cnn" target="_blank" rel="noreferrer noopener">toppled</a>&nbsp;several Gaza Strip buildings, reportedly leading to&nbsp;<a href="https://www.bbc.com/news/world-middle-east-57097475" target="_blank" rel="noreferrer noopener">over 100</a>&nbsp;<a href="https://www.washingtonpost.com/world/weary-gaza-marks-muslim-feast-as-violence-spreads-in-israel/2021/05/13/0545e73e-b3ad-11eb-bc96-fdf55de43bef_story.html" target="_blank" rel="noreferrer noopener">Palestinian deaths</a>&nbsp;and at least seven Israeli deaths.</p>



<p>The IDF has massed&nbsp;<a href="https://www.forbes.com/sites/carlieporterfield/2021/05/13/94-dead-in-gaza-conflict-as-worries-rise-of-israeli-ground-invasion/?sh=15598cf97eb6">thousands of troops</a>&nbsp;near the Gaza border in preparation for a ground campaign, and both air and ground troops are “currently attacking in the Gaza Strip,” the military&nbsp;<a href="https://twitter.com/IDF/status/1392953390443991040" target="_blank" rel="noreferrer noopener">said on Twitter</a>&nbsp;early Friday morning, Israel time.</p>



<p>Some&nbsp;<a href="https://www.nytimes.com/live/2021/05/13/world/israel-gaza-news" target="_blank" rel="noreferrer noopener">international</a>&nbsp;<a href="https://www.wsj.com/articles/israel-steps-up-airstrikes-against-hamas-in-gaza-tries-to-contain-violence-at-home-11620900941?mod=hp_lead_pos4" target="_blank" rel="noreferrer noopener">media</a>&nbsp;<a href="https://www.bbc.com/arabic/middleeast-57089065" target="_blank" rel="noreferrer noopener">outlets</a>&nbsp;claimed IDF troops have already entered the territory, but its forces appear to be shelling the Gaza Strip from Israeli-controlled positions rather than carrying out a ground invasion in the territory, local and regional outlets like Israeli&nbsp;<a href="https://twitter.com/roysharon11/status/1392955293466828805" target="_blank" rel="noreferrer noopener">public broadcaster</a>&nbsp;<a href="https://twitter.com/roysharon11/status/1392973698777354243" target="_blank" rel="noreferrer noopener">Kan 11</a>, the&nbsp;<a href="https://www.timesofisrael.com/liveblog-may-13-2021/" target="_blank" rel="noreferrer noopener"><em>Times of Israel</em></a>&nbsp;and Qatar-based al Jazeera reported.</p>



<h3 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h3>



<p>Israeli officials say they&nbsp;<a href="https://www.axios.com/biden-send-envoy-israel-palestine-gaza-crisis-2115a8db-3453-41e0-a0ea-01b373b0ec68.html" target="_blank" rel="noreferrer noopener">aren’t interested</a>&nbsp;in an immediate ceasefire, instead promising to punish Hamas. “I said that we would extract a very heavy price from Hamas and the other terrorist organizations,” Netanyahu&nbsp;<a href="https://twitter.com/IsraeliPM/status/1392972151028858880" target="_blank" rel="noreferrer noopener">said Thursday night</a>. “This operation will continue as long as necessary in order to restore the calm and security to the state of Israel.”</p>



<h3 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h3>



<p>If Israeli troops ultimately enter the Gaza Strip, it would mark the country’s first major ground campaign in the territory in seven years. Israel&nbsp;<a href="https://www.npr.org/templates/story/story.php?storyId=4841877" target="_blank" rel="noreferrer noopener">pulled all troops</a>&nbsp;and&nbsp;<a href="https://www.washingtonpost.com/news/worldviews/wp/2015/07/02/does-israel-actually-occupy-the-gaza-strip/" target="_blank" rel="noreferrer noopener">settlers</a>&nbsp;from Gaza in 2005, and Hamas — which most Western countries deem a terrorist group —&nbsp;<a href="https://www.reuters.com/article/us-palestinians-timeline/timeline-key-events-since-2006-hamas-election-victory-idUSL1752364420070620" target="_blank" rel="noreferrer noopener">took over</a>&nbsp;the territory in the following year, but Israel and Hamas have periodically exchanged fire since then. During a bout of violence in 2014, the IDF made a&nbsp;<a href="https://www.nytimes.com/2014/07/18/world/middleeast/israel-gaza-strip.html" target="_blank" rel="noreferrer noopener">rare ground incursion</a>&nbsp;into Gaza with a stated mission of destroying the territory’s cross-border tunnels.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>The latest hostilities between Israel and Hamas follow days of unrest and tension. Israeli police&nbsp;<a href="https://apnews.com/article/middle-east-israel-jerusalem-076a9ec7e2bd9c065882c64a4ab820a1?utm_campaign=SocialFlow&amp;utm_medium=AP&amp;utm_source=Twitter" target="_blank" rel="noreferrer noopener">clashed</a>&nbsp;with Palestinian protesters earlier this week at East Jerusalem’s al-Aqsa Mosque, and protesters and police&nbsp;<a href="https://www.nytimes.com/2021/05/07/world/middleeast/evictions-jerusalem-israeli-palestinian-conflict-protest.html" target="_blank" rel="noreferrer noopener">faced off</a>&nbsp;last week over planned evictions of several Palestinian families in part of East Jerusalem, an area&nbsp;<a href="https://apnews.com/article/jerusalem-middle-east-lifestyle-government-and-politics-43d4cab031c28da0abf98d694dd169ac" target="_blank" rel="noreferrer noopener">annexed by Israel</a>&nbsp;decades ago. Plus, violent street clashes have erupted in cities with&nbsp;<a href="https://www.nytimes.com/2021/05/13/world/middleeast/arab-jewish-violence-lod.html" target="_blank" rel="noreferrer noopener">large numbers</a>&nbsp;of both Jewish and Arab Israelis.</p>



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



<p>The United States has called for&nbsp;<a href="https://www.npr.org/2021/05/11/995942104/biden-administration-urges-israelis-and-palestinians-to-de-escalate-conflict" target="_blank" rel="noreferrer noopener">de-escalation</a>. Some Biden administration statements have been&nbsp;<a href="https://www.state.gov/secretary-blinkens-call-with-israeli-prime-minister-netanyahu/" target="_blank" rel="noreferrer noopener">relatively muted</a>, broadly defending Israel’s right to self-defense and condemning civilian violence. Meanwhile, the Pentagon&nbsp;<a href="https://thehill.com/policy/defense/553453-pentagon-120-us-military-personnel-moved-from-israel-out-of-an-abundance-of" target="_blank" rel="noreferrer noopener">said Thursday</a>&nbsp;it has moved 120 U.S. troops out of Israel, and the U.S. State Department is telling Americans to reconsider traveling there.</p>


Israeli airstrikes on Gaza

Israeli Ground Forces Take Action In Gaza As Death Toll Tops 100 — But Troops Reportedly Haven’t Invaded


<p id="h-topline"><strong>TOPLINE</strong> The hotly anticipated <em>Friends</em> reunion will air on HBO Max on May 27, the streamer announced Thursday, releasing a teaser trailer and star-studded list of guest stars for the unscripted <em>Friends: The Reunion</em>—or, “The One Where They Get Back Together.”</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>The&nbsp;<a href="https://www.youtube.com/watch?v=MedRN92V6lE" target="_blank" rel="noreferrer noopener">trailer</a>&nbsp;shows the backs of the six central&nbsp;<em>Friends</em>&nbsp;cast members—Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc, Matthew Perry and David Schwimmer—who will all be participating in the reunion special.</p>



<p>HBO Max described the&nbsp;<a href="https://www.forbes.com/sites/roberthart/2020/11/13/friends-reunion-episode-to-film-in-march-after-months-of-covid-19-delays/?sh=6a535d3f6593">reunion</a>&nbsp;as a “real-life unscripted celebration” of the TV series, which was filmed on the show’s original soundstage at the Warner Bros. Studio backlot in California.</p>



<p>HBO has previously&nbsp;<a href="https://www.hollywoodreporter.com/tv/tv-news/friends-reunion-special-miss-hbo-max-launch-1289773/" target="_blank" rel="noreferrer noopener">said</a>&nbsp;the show will feature the original cast members reuniting on the show’s sets as themselves “to reminisce,” stressing they “want to make it very clear that this is not a new, original episode of the series.”</p>



<p><em>Friends: The Reunion</em>&nbsp;will feature such guests stars as David Beckham,&nbsp;Justin Bieber,&nbsp;BTS,&nbsp;James Corden,&nbsp;Cindy Crawford,&nbsp;Cara Delevingne,&nbsp;Lady Gaga,&nbsp;Elliott Gould,&nbsp;Kit Harington,&nbsp;Larry Hankin,&nbsp;Mindy Kaling,&nbsp;Thomas Lennon,&nbsp;Christina Pickles,&nbsp;Tom Selleck,&nbsp;James Michael Tyler,&nbsp;Maggie Wheeler,&nbsp;Reese Witherspoon&nbsp;and&nbsp;Malala Yousafzai, HBO announced Thursday.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>The&nbsp;<em>Friends</em>&nbsp;reunion special was first confirmed in Feb. 2020 after years of the cast denying the show would return after going off the air in 2004, with the show’s original stars revealing on&nbsp;<a href="https://www.instagram.com/p/B82FMKcBKHL/" target="_blank" rel="noreferrer noopener">Instagram</a>: “It’s happening.” The special was&nbsp;<a href="https://www.hollywoodreporter.com/tv/tv-news/friends-reunion-special-miss-hbo-max-launch-1289773/" target="_blank" rel="noreferrer noopener">delayed</a>&nbsp;for a&nbsp;<a href="https://www.forbes.com/sites/roberthart/2020/11/13/friends-reunion-episode-to-film-in-march-after-months-of-covid-19-delays/?sh=6a535d3f6593">year</a>&nbsp;due to the Covid-19 pandemic, however, after being originally slated to film in late March 2020 and launch with HBO Max. It was unclear when the special would debut before Thursday’s announcement, and the show’s official Instagram account&nbsp;<a href="https://www.instagram.com/p/CNgYJgoHWZm/" target="_blank" rel="noreferrer noopener">revealed</a>&nbsp;April 10 that filming had only just been completed.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>At least $2.5 million. That’s reportedly how much each of the Friends stars are being paid for the one-off special, according to <a href="https://variety.com/2020/tv/news/friends-cast-reunion-hbo-max-1203510743/" target="_blank" rel="noreferrer noopener">multiple</a> <a href="https://www.hollywoodreporter.com/tv/tv-news/friends-reunion-special-officially-a-go-at-hbo-max-1280432/" target="_blank" rel="noreferrer noopener">sources</a>.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
https://twitter.com/DavidSchwimmer/status/1392889872239710210?s=20
</div></figure>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
https://youtu.be/MedRN92V6lE
</div></figure>



<h2 class="wp-block-heading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/roberthart/2020/11/13/friends-reunion-episode-to-film-in-march-after-months-of-covid-19-delays/?sh=6a535d3f6593">Friends Reunion Episode To Film In March After Months Of Covid-19 Delays</a>&nbsp;(Forbes)</p>



<p><a href="https://www.hollywoodreporter.com/tv/tv-news/friends-reunion-special-miss-hbo-max-launch-1289773/" target="_blank" rel="noreferrer noopener">‘Friends’ Reunion Special to Miss HBO Max Launch</a>&nbsp;(Hollywood Reporter)</p>



<p><a href="https://www.harpersbazaar.com/culture/film-tv/a31050315/friends-reunion-special-news-cast-spoilers-date/" target="_blank" rel="noreferrer noopener">The <em>Friends</em> Reunion Special Is Coming in 2021</a> (Harpers Bazaar)</p>



<p><strong><em>By Alison Durkee, Forbes Staff</em></strong></p>


Friends Television Stills Television

‘Friends’ Reunion To Air On HBO Max May 27 — See Who Will Be Joining The Original Cast


<p id="h-topline"><strong>TOPLINE</strong> Gaza militant groups launched another round of more than 100 rockets into central Israel in retaliation for the Israeli military&nbsp;<a href="https://www.youtube.com/watch?v=_tzXlZ5_Sds" target="_blank" rel="noreferrer noopener">leveling another Gaza Tower</a>, a move that sent millions of Israelis into hiding in bomb shelters as the conflict’s death toll continues to climb.</p>



<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2021/05/GettyImages-1232823091-1024x698.jpg" alt="" class="wp-image-51100" width="734" height="500" srcset="https://cms.forbesafrica.com/wp-content/uploads/2021/05/GettyImages-1232823091-1024x698.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2021/05/GettyImages-1232823091-300x204.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2021/05/GettyImages-1232823091-768x523.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2021/05/GettyImages-1232823091-1536x1047.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2021/05/GettyImages-1232823091-2048x1396.jpg 2048w" sizes="(max-width: 734px) 100vw, 734px" /><figcaption>TOPSHOT &#8211; Smoke billows from Israeli air strikes in Gaza City, controlled by the Palestinian Hamas movement, on May 11, 2021. &#8211; Israel and the Islamist movement Hamas in Gaza exchanged heavy fire, killing at least 26 Palestinians and two Israelis, in an escalation sparked by violent unrest at Jerusalem&#8217;s flashpoint Al-Aqsa Mosque compound. (Photo by ANAS BABA / AFP) (Photo by ANAS BABA/AFP via Getty Images)</figcaption></figure></div>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>Hamas, the militant group that rules Gaza, said the 130 rockets it fired toward Israel Wednesday afternoon were&nbsp;<a href="https://www.aljazeera.com/news/2021/5/12/israeli-bombardment-continues-on-gaza" target="_blank" rel="noreferrer noopener">a direct response</a>&nbsp;to the destruction of Gaza City’s Al Sharuk tower earlier in the day.</p>



<p>Footage circulating on social media Wednesday shows the 14-story tower&nbsp;<a href="https://www.youtube.com/watch?v=_tzXlZ5_Sds" target="_blank" rel="noreferrer noopener">collapsing</a>&nbsp;after it was targeted for a strike by the Israel Defense Forces.</p>



<p>Besides residential apartments, the building also housed the offices of local and international&nbsp;<a href="https://www.aljazeera.com/news/2021/5/12/israeli-bombardment-continues-on-gaza" target="_blank" rel="noreferrer noopener">media outlets</a>, according to reports.</p>



<p>More than 335 Palestinians in Gaza have been wounded in the attacks, Gaza’s health officials said Wednesday, and of the 56 who have been reported killed, 14 were children.</p>



<p>Strikes from Hamas and other Gaza militant groups like Islamic Jihad have injured roughly 100 and killed 6 in Israel, including a&nbsp;<a href="https://twitter.com/IDF/status/1392482375490211844?s=20" target="_blank" rel="noreferrer noopener">21-year-old soldier</a>&nbsp;and an Indian woman who was reportedly&nbsp;<a href="https://www.wionews.com/india-news/indian-woman-killed-in-israel-was-struck-by-rocket-strike-during-a-video-call-with-husband-384415" target="_blank" rel="noreferrer noopener">on a video call</a>&nbsp;with her husband when she died.&nbsp;</p>



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



<p>International powers are calling for a ceasefire. U.S. Secretary of State Antony Blinken will send top diplomat Hady Amr to the region “to&nbsp;<a href="https://www.nytimes.com/2021/05/12/world/middleeast/israel-palestine-blinken.html" target="_blank" rel="noreferrer noopener">urge deescalation</a>&nbsp;and to bring calm,” Blinken said Wednesday.&nbsp;</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>Weeks of tension reached a tipping point Saturday when&nbsp;<a href="https://www.forbes.com/sites/carlieporterfield/2021/05/10/hamas-fires-rockets-into-israel---and-threatens-to-launch-more---as-tensions-escalate/?sh=3c99b7b6312c">Hamas fired rockets</a>&nbsp;into Jerusalem after Israeli security forces confronted Palestinian protestors within the compound of the city’s Al Aqsa Mosque, one of the holiest sites in Islam. Relations between Israel and Palestinians had been strained over the efforts of Jewish settlers to&nbsp;<a href="https://www.forbes.com/sites/carlieporterfield/2021/05/10/hamas-fires-rockets-into-israel---and-threatens-to-launch-more---as-tensions-escalate/?sh=35fdef5d6312">forcibly evict Palestinian families</a>&nbsp;from their homes in East Jerusalem and celebrations of&nbsp;<a href="https://www.washingtonpost.com/world/jerusalem-alaqsa-templemount-haramalsharif/2021/05/10/17f29614-b161-11eb-bc96-fdf55de43bef_story.html" target="_blank" rel="noreferrer noopener">Jerusalem Day</a>, a controversial holiday that marks the anniversary of Israel seizing control of East Jerusalem in the Six-Day War in 1967.&nbsp;</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.forbes.com/sites/jemimamcevoy/2021/05/12/49-dead-hundreds-injured-amid-warning-israeli-palestinian-violence-escalating-toward-full-scale-war/?sh=45955a53424e">49 Dead, Hundreds Injured Amid Warning Israeli-Palestinian Violence Escalating Toward ‘Full-Scale War’</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/carlieporterfield/2021/05/11/tel-aviv-comes-under-fire-as-israel-and-palestinian-militants-trade-blows/?sh=750d983b557e">“Tel Aviv Comes Under Fire As Israel And Palestinian Militants Trade Blows”</a> (<em>Forbes</em>)</p>



<p><strong><em>By Carlie Porterfield, Forbes Staff</em></strong></p>


TOPSHOT-PALESTINIAN-ISRAEL-GAZA-ROCKET

Israel Levels A Third Tower Building In Gaza City—And Militant Groups Respond With Rockets


<p>I’m pretty comfortable predicting that this summer’s theatrical movie season will be the weirdest summer movie season since last summer’s movie season. No, theaters won’t be closed worldwide while the few open indie multiplexes and drive-ins try to subsist on nostalgic re-releases and arthouse horror flicks. However, the theatrical offerings are a set of mostly B-level franchise entries amid a few A-level tentpoles. Even with the emphasis on franchises and IP, that makes this summer feel like a distinctly early 1990’s season.</p>



<p>Back in, say, 1995, there was&nbsp;<em>Batman Forever, Pocahontas, Apollo 13&nbsp;</em>and then everything else fighting it out amid a more merciful theatrical environment. Or, more recently,&nbsp;<em>Avengers, Dark Knight Rises&nbsp;</em>and&nbsp;<em>Amazing Spider-Man&nbsp;</em>vs. everything else in summer 2012.</p>



<p>There are quite a would-be summer 2020 biggies (<em>Tenet, Wonder Woman 1984, Mulan, Soul,&nbsp;</em>etc.) that have already been released. Meanwhile, a number of would-be summer 2020 flicks (<em>Top Gun: Maverick, Minions: The Rise of Gru, Ghostbusters: Afterlife</em>, etc.) have been further delayed. There are yet more would-be summer 2021 biggies (<em>The Batman, Spider-Man: No Way Home, Jurassic World: Dominion,&nbsp;</em>etc.) are set for release in late 2021 sometime in 2022. And let’s not forget films like&nbsp;<em>Cinderella&nbsp;</em>and&nbsp;<em>The Tomorrow War&nbsp;</em>which were sold off to streaming platforms.</p>



<p>Point being, the summer release slate is a hodgepodge of “was supposed to be in 2020” and “didn’t have to vacate 2021” titles, most of them smaller in scale and not aiming for blow-out status. The hope is for achieving normalcy, not notching milestones.</p>



<p>So, without further ado, thus continues this summer movie preview. There’s only a handful here that I might expect to outgross&nbsp;<em>Godzilla Vs. Kong&nbsp;</em>($425 million with Japan on the way) and even fewer that might hope to just match what&nbsp;<em>Hi, Mom&nbsp;</em>($825 million) or&nbsp;<em>Detective Chinatown 3&nbsp;</em>($700 million) earned in China alone earlier this year. Without further ado, the three “surefire” blockbusters and the four biggest “might break out” question marks.</p>



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</div></figure>



<p><strong><em>F9: The Fast Saga&nbsp;</em></strong>(Universal)</p>



<p>Universal is positioning the ninth&nbsp;<em>Fast &amp; Furious&nbsp;</em>movie as the “welcome back, blockbusters” event. Opening May 21 in China and much of the world and then on June 25 in North America, the Justin Lin-directed flick pits Vin Diesel’s Dom Toretto against John Cena as his evil big brother. We already know that we’ll get car chases involving magnets, a trip to space and the return of Sung Kang&#8217;s Han Lue after his apparent fiery demise at the hands of Jason Statham’s (now-reformed) Deckard Shaw.&nbsp;<em>F9&nbsp;</em>will allegedly/possibly set up a two-part “Dominic Toretto and the Deathly Hallows”-type finale. Prior to the pandemic,&nbsp;<em>F9&nbsp;</em>was pegged to be 2020’s biggest global grosser. It’s now likely to be 2020’s biggest Hollywood-specific global grosser save for maybe&nbsp;<em>Spider-Man: No Way Home&nbsp;</em>(December 17).</p>



<p>Prior to all of this,&nbsp;<em>F9&nbsp;</em>was potentially going to be the first movie to top $1 billion worldwide without passing $200 million domestic. Now we’ll see if it can out-gross&nbsp;<em>Pirates of the Caribbean: Dead Men Tell No Tales&nbsp;</em>($177 million domestic and $794 million worldwide in 2017) as the biggest-grossing Hollywood film to earn under $200 million domestic. Absence may indeed make the heart grow fonder, as it’s been four years between straight-up Dominic Toretto-specific sequels (starts singing “See You Again”). That’s especially if the movie is closer in quality to&nbsp;<em>Fast Five&nbsp;</em>than&nbsp;<em>Fate of the Furious</em>. I would be shocked if&nbsp;<em>F9&nbsp;</em>wasn’t the biggest movie of the summer, partially thanks to potentially huge business in China and halfway decent business in North America. The only question is “How big?”</p>



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</div></figure>



<p><strong><em>Black Widow&nbsp;</em></strong>(Walt Disney)</p>



<p>While I’d argue that&nbsp;<em>Black Widow</em>&nbsp;would have been a bigger deal had it opened in summer 2017 (between&nbsp;<em>Civil War&nbsp;</em>and&nbsp;<em>Infinity War&nbsp;</em>which is when it takes place) or before Natasha took a long walk off a short cliff in&nbsp;<em>Endgame</em>, it’s still a solo MCU superhero movie centered on one of the flagship Avengers. Scarlett Johansson is passing the metaphorical torch to Florence Pugh in this&nbsp;<em>Bourne</em>/<em>Red Sparrow</em>/<em>Atomic Blonde</em>-ish espionage actioner. Kate Shortland’s MCU prequel will arrive with the MCU machine back in full swing via Disney+ television shows and&nbsp;<em>Black Widow&nbsp;</em>looking even more like yesterday’s MCU business. The film will open in theaters and on Disney+ “Premier Access” on July 9. All of these factors will be why it’ll only make “much of the money” instead of “all the money.”</p>



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<iframe loading="lazy" title="Marvel Studios’ Shang-Chi and the Legend of the Ten Rings | Official Teaser" width="500" height="281" src="https://www.youtube.com/embed/giWIr7U1deA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



<p><strong><em>Shang-Chi and the Legend of the Ten Rings&nbsp;</em></strong>(Walt Disney)</p>



<p>This is the second Marvel/Disney flick, but to be fair much of the competition (Universal’s&nbsp;<em>Jurassic World 3,&nbsp;</em>Paramount’s&nbsp;<em>Top Gun 2</em>, etc.) fled to safer waters. The Simu Liu/Awkwafina/Tony Leung/Michelle Yeoh “first Asian MCU superhero” movie could be our first unmitigated Labor Day blockbuster. There’s little reason not to expect the Daniel Destin Cretton-directed flick to break out on the level of (at least, give or take Covid variables)&nbsp;<em>Doctor Strange&nbsp;</em>($677 million in 2016) even if China reacts with a comparative shrug. It’s a demographically-specific event movie along with being Marvel playing in thus-far uncharted waters (the martial arts movie), and it’ll have three weeks before&nbsp;<em>Venom: Let There Be Carnage</em>. A summer unlike any other is hoping to end with the most conventional thing in the world: an MCU blockbuster.</p>



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<iframe loading="lazy" title="Free Guy | Official Trailer | 20th Century Studios" width="500" height="281" src="https://www.youtube.com/embed/JORN2hkXLyM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



<p><strong>The burning questions…</strong></p>



<p>Yes, if there were more “biggies” opening this summer, had the likes of&nbsp;<em>Jurassic World: Dominion, Top Gun: Maverick&nbsp;</em>and&nbsp;<em>The Matrix 4&nbsp;</em>not been pushed back, this might have been a closer competition. As it is, it’s really a three-way race between the MCU actioners (huge in North America, healthy in China, with strong fan-specific loyalty and goodwill) and the&nbsp;<em>Fast Saga&nbsp;</em>sequel (healthy in North America, huge in China, with strong fan-specific loyalty and goodwill). But what else is there? Well, aside from a handful of high-profile horror flicks (<em>Spiral, Candyman, A Quiet Place part II</em>, etc.) and some “just a movie” offerings like&nbsp;<em>Free Guy&nbsp;</em>and&nbsp;<em>In the Heights</em>, that’s mostly it. However, there are four other potential “biggies” opening in June, July and August which absolutely could break out, relatively speaking.</p>



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</div></figure>



<p><strong><em>Space Jam: A New Legacy&nbsp;</em></strong>(Warner Bros.)</p>



<p>Will LeBron James’&nbsp;<em>Space Jam&nbsp;</em>sequel play to generational nostalgia or be another unrequested sequel?</p>



<p>Opening July 16, this Malcom D. Lee-directed&nbsp;<em>Space Jam&nbsp;</em>sequelhas mostly been discussed in terms of fabricated controversies about Pepe Le Pew getting “canceled,” and whether making Lola Bunny (now voiced by Zendaya) a more well-rounded character plays into the “social justice warrior” crowd. Pepe’s barely in&nbsp;<em>Looney Toons: Back in Action</em>, and that 2003 romp includes Speedy Gonzalez and Porky Pig mourning their declining popularity due to changing times. The big question is whether the film will be another “this sequel exists because the studio and/or certain filmmakers wanted it” or whether this 25-years-later follow-up will play as an all-ages theatrical-worthy romp while capitalizing on decades of multi-generational nostalgia (and the original film’s place as a comparative touchtone for Black moviegoers). Presumably responsible (under-$100 million?) budgeting aside, this could go either way.</p>



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<iframe loading="lazy" title="Monster Pets: A Hotel Transylvania Short (2021) | Movieclips Trailers" width="500" height="281" src="https://www.youtube.com/embed/RZ0zdJw0VZs?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



<p><strong><em>Hotel Transylvania: Transformania&nbsp;</em></strong>(Sony)</p>



<p>Will the fourth “Drac Pac” movie thrive without Adam Sandler?</p>



<p>Each of the three&nbsp;<em>Hotel Transylvania&nbsp;</em>movies have out-grossed their predecessor worldwide, which each one has been leggier than the last in North America. With the biggest/best animated films (<em>The Mitchells Vs. the Machines, Luca,&nbsp;</em>etc.) mostly going to streaming, Sony Animation’s fourth “Drac Pack” flick is by default summer’s biggest animated film. The initial trilogy has earned $379 million, $469 million and $527 million in 2012, 2015 and 2018 on a combined budget of $230 million. However, Adam Sandler will not be reprising this time out, with Brian Hull (made famous via a YouTube video of him singing “Let It Go” as various animated characters) taking over. While kids won’t care about the actor swap when it opens on July 23, the demos that view&nbsp;<em>Hotel Transylvania&nbsp;</em>as a Sandler-and-friends animated franchise might (even with everyone else reprising).</p>



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<iframe loading="lazy" title="Disney&#039;s Jungle Cruise | Official Trailer" width="500" height="281" src="https://www.youtube.com/embed/f_HvoipFcA8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<p><strong><em>Jungle Cruise&nbsp;</em></strong>(Walt Disney)</p>



<p>Can this be Disney’s first true “new to cinemas” live-action franchise in nearly 17 years?</p>



<p>Delayed from last July, this action-comedy is loosely based on the popular theme park ride, one which ironically has undergone an allegedly “less cultural offensive” reworking over the last year. Dwayne Johnson and Emily Blunt are headlining this Jaume Collet-Serra-directed romp which wants to remind you of Stephen Sommers’&nbsp;<em>The Mummy</em>. Hopes were high last year that it might become Disney’s first new-to-cinema live-action franchise (outside of the MCU) since&nbsp;<em>Pirates of the Caribbean&nbsp;</em>in 2003 and&nbsp;<em>National Treasure&nbsp;</em>in 2004. Johnson is a force with a viable IP, Blunt is an added value draw, and the film looks like quite a bit of fun. If Disney’s live-action departments want to be more than just Marvel,&nbsp;<em>Star Wars&nbsp;</em>and live-action remakes/revamps of their animated hits, well, this one (opening July 30) better break out.</p>



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<iframe loading="lazy" title="THE SUICIDE SQUAD - Rebellion Trailer" width="500" height="281" src="https://www.youtube.com/embed/vBumm7mYT_0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<p><strong><em>The Suicide Squad&nbsp;</em></strong>(Warner Bros.)</p>



<p>Can a&nbsp;<em>Suicide Squad&nbsp;</em>sequel still soar without Will Smith and the Joker?</p>



<p>This has all the ingredients of a “too late” sequel to a film that was a big hit ($745 million sans China) without being terribly well-liked. David Ayer’s (heavily compromised) ensemble supervillain flick boasted the first live-action appearance of Harley Quinn, a Will Smith star turn and cameos by Ben Affleck’s Batman and Jared Leto’s Joker. Margot Robbie is back as Harley, while James Gunn is in the director’s chair. That’s ironic since&nbsp;<em>Guardians of the Galaxy&nbsp;</em>is what Warner Bros. was aiming for even if Ayer was initially crafting something closer to&nbsp;<em>The Fast &amp; the Furious</em>. A crowdpleasing trailer, a marquee director and a rejuvenated DC Films may help compensate for the “just curious the first time” variable. Besides, in normal times, I’d have pegged&nbsp;<em>Godzilla Vs. Kong&nbsp;</em>as a whiff, so WB gets my benefit of the doubt.</p>



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</div></figure>



<p><strong>Epilogue</strong></p>



<p>That’s a wrap for “part two.” Now is it possible that I’m wrong on these flicks? Sure,&nbsp;<em>F9&nbsp;</em>could underperform while&nbsp;<em>Free Guy&nbsp;</em>soars to infinity and beyond.&nbsp;<em>Suicide Squad 2&nbsp;</em>could be a classic “Tomb Raider Trap” while&nbsp;<em>In the Heights&nbsp;</em>pulls&nbsp;<em>Greatest Showman</em>-level grosses worldwide. Hell,&nbsp;<em>Cruella&nbsp;</em>could play closer to&nbsp;<em>Cinderella&nbsp;</em>($520 million in 2015)than&nbsp;<em>Dumbo&nbsp;</em>($350 million). But the vast majority of 2021 summer movie releases will be content with $100-$150 million worldwide (the horror movies) or thrilled with $300 million worldwide (the likes of&nbsp;<em>Peter Rabbit: The Runaway, Free Guy&nbsp;</em>or&nbsp;<em>Cinderella</em>). Theaters shouldn’t expect that many blow-out hits or record opening weekends. They can still hope that the consistent output offers a steady stream of halfway decent business from May 7 to Labor Day weekend. It’s a summer about survival, not superlative success.</p>



<p><strong><em>By Scott Mendelson, Forbes Staff</em></strong></p>


Wuhan Reopens Cinemas After Months In Lockdown

Box Office: The Biggest Blockbusters And Riskiest Releases Of Summer 2021


<p id="h-topline"><strong>TOPLINE</strong> As India continues to face a devastating second wave of the pandemic, the World Health Organisation on Monday classified the coronavirus variant first detected in the country–B.1.617—as a variant of concern following preliminary findings which suggest it could be more transmissible.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>The WHO’s new classification—which is an upgrade from “variant of interest”—adds the Indian variant to a list that also contains variants first detected in the U.K. (B.1.1.7), South Africa (B.1.351) and&nbsp; Brazil (P.1).</p>



<p>The global health body will publish a detailed report on the B.1.617 variant in its weekly epidemiological update on Tuesday, the WHO’s technical lead officer on Covid-19, Maria van Kerkhove said.</p>



<p>Kerkhove noted that some available information suggested that the variant showed “increased transmissibility,” and a non-peer-reviewed study on a limited number of patients also suggested that it may also be able to evade some key antibodies.</p>



<h3 class="wp-block-heading" id="h-big-number">BIG NUMBER</h3>



<p>3,876. That’s the total number of Covid-19 deaths India&nbsp;<a href="https://twitter.com/COVIDNewsByMIB/status/1391986229768376322" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;on Tuesday, taking its official tally up to 249,992—which many experts suggest is a severe undercount. The country’s daily infection and fatalities have continued to remain high despite a drop in new infections in key cities like Mumbai and Delhi.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>The second wave of the pandemic has continued to rage across India pushing the country’s health care system past its breaking point. As the country reports more than 350,000 new infections and nearly 4,000 deaths from Covid-19 every day, the country’s Prime Minister Narendra Modi and his government are under increasing pressure to impose a strict nationwide lockdown. Rahul Gandhi, the leader of India’s main opposition party has written a letter to Modi which slams his government’s failures and notes that “another devastating national lockdown is almost inevitable.”&nbsp;<a href="https://www.dnaindia.com/india/report-lockdown-in-india-latest-news-may-8-pressure-mounts-on-pm-narendra-modi-to-impose-nationwide-lockdown-shutdown-coronavirus-latest-news-2889434" target="_blank" rel="noreferrer noopener">Several others</a>, including medical experts, Supreme Court judges and other opposition leaders and even&nbsp;<a href="https://qz.com/india/2007013/anthony-fauci-and-indian-doctors-ask-modi-to-declare-a-lockdown/" target="_blank" rel="noreferrer noopener">Dr. Anthony Fauci</a>—the U.S.’s senior-most infectious disease official—have called for a national shut down to break the chain of transmission.&nbsp;</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.bloomberg.com/news/articles/2021-05-10/who-cites-concern-on-variant-from-india-seen-spreading-quickly?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_content=business&amp;cmpid=socialflow-twitter-business&amp;sref=CSMHWBLp" target="_blank" rel="noreferrer noopener">Covid Variant From India Triggers WHO Concern Over Fast Spread</a>&nbsp;(Bloomberg)</p>



<p><strong><a href="https://www.forbes.com/coronavirus/">Full coverage and live updates on the Coronavirus</a></strong></p>



<p><strong><em>By Siladitya Ray, Forbes Staff</em></strong></p>


INDIA-HEALTH-VIRUS-VACCINES

WHO Classifies Indian Covid-19 Mutation As A ‘Variant Of Concern’


<p><strong>Topline </strong>England on Monday reported no new deaths from Covid-19 for the time since last March, a positive milestone that comes as the country continues to ease long-lasting lockdown restrictions.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p><a href="https://coronavirus.data.gov.uk/details/deaths?areaType=nation&amp;areaName=England" target="_blank" rel="noreferrer noopener">Data</a>&nbsp;released by Public Health England Monday afternoon added no new deaths to the country’s toll of 112,245.&nbsp;</p>



<p>Scotland and Northern Ireland also reported no new deaths for Sunday, a streak in the U.K. broken by Wales, which reported four more residents dead from Covid-19 in Monday’s update.&nbsp;</p>



<p>Both Scotland and Northern Ireland have reported zero coronavirus deaths prior to May 10, but this is the first time since March 7 England has hit such a milestone.</p>



<h3 class="wp-block-heading" id="h-big-number">BIG NUMBER&nbsp;</h3>



<p>126,605. That’s how many people have died from Covid-19 in the U.K. since the start of the pandemic.&nbsp;</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND&nbsp;</h3>



<p>England’s 14-month record low for Covid-19 deaths comes as Prime Minister Boris Johnson is set to announce Monday the latest round of lockdown easing. The U.K.’s alert level has been lowered from a four to a three, meaning the transmission of coronavirus is no longer deemed to be high or rising exponentially, though it’s still in general circulation. Johnson is expected to announce friends and families can hug and mix indoors starting next week, including in pubs and restaurants, while cinemas, museums and theaters can reopen.&nbsp;</p>



<h3 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT&nbsp;</h3>



<p>After hitting a peak of 70,000 cases per day in January, the U.K. is now recording an average of less than 2,000 new daily infections. The bloc of countries have also benefited from one of the world’s&nbsp;<a href="https://www.nytimes.com/interactive/2021/world/covid-vaccinations-tracker.html" target="_blank" rel="noreferrer noopener">most successful&nbsp;</a>vaccine rollouts, with over a quarter of residents fully vaccinated and more than half fully inoculated.</p>



<p><strong><a href="https://www.forbes.com/coronavirus/">Full coverage and live updates on the Coronavirus</a></strong></p>



<p><em><strong>By Jemima McEvoy, Forbes Staff</strong></em></p>


Michael Nardone, who plays D.I Neil McKinven in the BBC

England Reports Zero New Coronavirus Deaths For First Time In 14 Months


<p id="h-topline"><strong>TOPLINE</strong>&nbsp;Tesla CEO Elon Musk revealed he has&nbsp;<a href="https://www.forbes.com/sites/joewalsh/2021/05/09/elon-musk-reveals-he-has-aspergers-on-saturday-night-live/?sh=6832e336f640">Asperger’s syndrome&nbsp;</a>during his opening monologue while hosting Saturday Night Live, but is far from the first billionaire businessman to divulge he is neurodivergent.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>Fellow billionaire and investment management firm founder Bill Gross revealed in 2019 he too had been&nbsp;<a href="https://www.bloomberg.com/news/videos/2019-03-01/bill-gross-on-his-asperger-s-diagnosis-and-its-advantages-video?fbclid=IwAR1H-gbsnDylCQB2hPCnkaQt15MQqS71DtsQMBU2O_jHjpUWqm3HUX_xlLE&amp;sref=q1G25G4a" target="_blank" rel="noreferrer noopener">diagnosed with Asperger’s</a>, telling Bloomberg he believes the condition makes him a better investor: “It allows you to focus on longer-term things without getting mixed up in the details,” Gross said.</p>



<p>Gross, estimated by&nbsp;<em>Forbes</em>&nbsp;to be worth about&nbsp;<a href="https://www.forbes.com/profile/bill-gross/?sh=6d33e30235b9">$1.5 billion</a>, also said the diagnosis likely explains his trouble maintaining eye contact and his almost obsessive interest in&nbsp;<a href="https://www.bloomberg.com/news/articles/2018-03-07/bond-guru-bill-gross-to-sell-42-2-million-stamp-collection" target="_blank" rel="noreferrer noopener">collecting stamps</a>.</p>



<p>Richard Branson, estimated by&nbsp;<em>Forbes</em>&nbsp;to have a&nbsp;<a href="https://www.forbes.com/profile/richard-branson/?sh=5a09c9836ff5">$4.2 billion</a>&nbsp;fortune, opened up about being dyslexic in a 2018 blog post, writing that as a child he was labeled “<a href="https://www.virgin.com/branson-family/richard-branson-blog/my-top-three-strategies-dyslexic-children" target="_blank" rel="noreferrer noopener">lazy and dumb</a>” for struggling in school: “Dyslexia is just a&nbsp;<a href="https://www.virgin.com/branson-family/richard-branson-blog/my-top-three-strategies-dyslexic-children" target="_blank" rel="noreferrer noopener">different, creative way of thinking</a>,” Branson said, adding he thinks the condition makes him&nbsp;<a href="https://www.virgin.com/branson-family/richard-branson-blog/dyslexia-and-imagination" target="_blank" rel="noreferrer noopener">more imaginative</a>.</p>



<p>Charles Schwab, who founded the nation’s largest brokerage firm and has an estimated&nbsp;<a href="https://www.forbes.com/profile/charles-schwab/?sh=71652fdc2e4b">$11.4 billion</a>&nbsp;fortune, has also had lifelong troubles&nbsp;<a href="https://stanfordmag.org/contents/charles-schwab-s-secret-struggle" target="_blank" rel="noreferrer noopener">reading and writing</a>&nbsp;because of dyslexia.</p>



<p>Late Ikea founder Ingvar Kamprad, estimated by&nbsp;<em>Forbes</em>&nbsp;to be worth as much as&nbsp;<a href="https://www.forbes.com/sites/maxjedeurpalmgren/2018/01/28/ingvar-kamprad-founder-of-ikea-dead-at-91/?sh=6e3f452c4972">$28 billion</a>&nbsp;between 2005 and 2010, was dyslexic and even decided to give Ikea products their&nbsp;<a href="https://qz.com/1191091/ingvar-kamprad-and-his-ikea-empire-nine-intriguing-facts/" target="_blank" rel="noreferrer noopener">distinct Swedish names</a>&nbsp;because his diagnosis made working with typical inventory numbers difficult for him.</p>



<p><em>By Carlie Porterfield, Forbes Staff</em></p>


Key Speakers At The Satellite 2020 Conference

It’s Not Just Elon Musk — These Billionaires Are Also Neurodivergent


<p><a href="https://www.forbes.com/profile/bill-gates/?sh=7717ecda689f">Bill Gates</a>&nbsp;and&nbsp;<a href="https://www.forbes.com/profile/melinda-gates/?sh=3f63649f7c2b">Melinda French Gates</a>&nbsp;are already divvying up their massive fortune, and in the process, Melinda has become a billionaire on her own.</p>



<p>Bill’s investment vehicle, Cascade Investment, transferred nearly $2.4 billion in securities to Melinda on Monday, May 3, the same day the pair announced their&nbsp;<a href="https://www.forbes.com/sites/melissaholzberg/2021/05/03/bill-and-melinda-gates-announce-divorce/?sh=4f23e9b94272">surprise divorce</a>, according to SEC filings. That makes Melinda worth at least $2.4 billion, while the stock transfer puts a slight dent in Bill’s net worth, which fell to an estimated $128.1 billion, from $130.4 billion on Tuesday. Even after the ten-figure transfer, the Microsoft cofounder remains the fourth richest person in the world.&nbsp;</p>



<p>Melinda received 2.94 million shares of AutoNation and 14.1 million shares of Canadian National Railway Co., which are worth $309 million and $1.5 billion respectively. (Bloomberg News first reported the transfer.) Bill also gave Melinda 25.8 million shares of Mexico-based Coca-Cola Femsa worth $120 million and 155.4 million shares of Mexican broadcaster Grupo Televisa SA, which are worth $386 million, according to SEC filings. The Wall Street Journal first reported the latter transfer.</p>



<p>Bill uses Cascade Investment, a holding company based in Kirkland, Washington, to manage his money, including the proceeds from selling Microsoft shares. Bill at one point owned a significant slice of Microsoft, but has given away (to the Gates Foundation) or sold most of his stake over the years and now holds less than 1%.</p>



<p>The stock transfer is almost certainly part of Bill and Melinda’s divorce settlement. While it’s unclear if they signed a prenup, according to their divorce filing Bill and Melinda&nbsp;<a href="https://www.forbes.com/sites/rachelsandler/2021/05/03/how-the-gates-split-could-stack-up-against-the-biggest-billionaire-divorces/?sh=12b9b62e2841">asked</a>&nbsp;a judge in Washington state to divide their assets based on the terms of a separation contract—a document that is typically signed when spouses are living apart but have not yet divorced. The terms of the contract weren’t disclosed. Bill may have also transferred other assets to Melinda in non-public transactions.&nbsp;MORE FOR YOU<a href="https://www.forbes.com/sites/giacomotognini/2021/04/22/vc-firm-of-moderna-chairman-dumped-14-billion-of-stock-in-two-months/">VC Firm Of Moderna Chairman Sold $1.4 Billion Of Stock In Two Months</a><a href="https://www.forbes.com/sites/jeffkauflin/2021/04/07/plaids-134-billion-valuation-makes-its-founders-fintechs-newest-billionaires/">Plaid’s $13.4 Billion Valuation Makes Its Founders Fintech’s Newest Billionaires</a><a href="https://www.forbes.com/sites/dawnchmielewski/2021/04/29/endeavor-lands-elusive-ipo-with-emanuel-and-whitesell-controlling-nearly-1-billion-in-shares/">Endeavor Lands Elusive IPO, With Emanuel And Whitesell Controlling Nearly $1 Billion In Shares</a></p>



<p><em>A spokesperson for Bill Gates did not reply to a request for comment.&nbsp;A spokesperson for Melinda did not immediately respond to a request for comment.</em></p>



<p><strong><em>By Rachel Sandler, Forbes Staff</em></strong></p>


gettyimages-1156268280-594×594

Melinda French Gates Now A Billionaire After Stock Transfer From Bill Gates


<p>The man Warren Buffett expects to succeed him at the helm of Berkshire Hathaway is worth an estimated $484 million thanks to a stake in its privately held energy subsidiary, despite owning very little of Berkshire’s publicly traded stock.</p>



<p>At Berkshire’s annual meeting on Saturday, Buffett’s longtime lieutenant Charles Munger made an off-handed comment that “Greg will keep the culture” as Berkshire grows more decentralized, suggesting that the company’s vice chairman, Greg Abel, will succeed Buffett as CEO. Buffett later confirmed to CNBC that Abel is the current choice to take over, saying, “The directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning.”</p>



<p>Abel has been a leader at Berkshire since the Omaha, Nebraska-based conglomerate bought MidAmerican Energy in 2000 when he was its president. He became CEO of the company now named Berkshire Hathaway Energy in 2008 and served in that role until becoming Berkshire’s vice chairman in 2018.</p>



<p>Abel owns a 1% stake in Berkshire Hathaway Energy, billionaire Walter Scott owns 7.9% and Berkshire Hathaway owns the remaining 91.1% of the company, according to BHE’s 2020 annual report. Berkshire repurchased $126 million worth of shares from Scott on March 5, 2020, according to its latest proxy statement, valuing BHE at $53.4 billion. That makes Abel’s stake worth an estimated $480 million (Forbes discounts ownership stakes in privately held companies).</p>



<p>Abel’s piece of BHE makes up the vast majority of his net worth, Forbes estimates. He owns only five Berkshire Hathaway Class A shares in a trust and 2,363 Class B shares as a custodian for members of his family, according to the proxy statement. With Class A shares worth more than $400,000 per share and Class B shares trading at $280 for share as of Monday’s market close, that stake is worth about $2.8 million.</p>



<p>Abel and Ajit Jain were&nbsp;<a href="https://www.forbes.com/sites/antoinegara/2018/01/10/warren-buffett-adds-energy-head-greg-abel-and-insurance-maestro-ajit-jain-to-berkshires-board/?sh=5355b5717c73">named vice chairmen</a>&nbsp;at the same time in 2018, prompting speculation that both were in contention to move into the top job. Jain, a 35-year Berkshire veteran, manages its insurance operations, and Abel oversees everything else. Jain owns $185 million worth of Berkshire Hathaway shares, some of which are held by a private foundation. Abel, 58, is 11 years younger than Jain, which Buffett reportedly cited as a contributing factor to the decision. “They’re both wonderful guys. The likelihood of someone having a 20-year runway though makes a real difference,” Buffett told CNBC.</p>



<p>Although he is among the youngest members of Berkshire’s board of directors, Abel’s stake in the public company still stands out as strikingly small. Buffett’s 248,734 Class A shares make up the bulk of the Oracle of Omaha’s $106 billion fortune. Munger’s shares are worth $1.9 billion, and early investor David Gottesman owns a $2.6 billion stake. All but two others on Berkshire’s 14-member board have stakes worth much more than Abel’s. A company spokesperson did not respond to a request for comment.</p>



<p>But as an added bonus to his lucrative Berkshire Hathaway Energy stake, Abel is paid handsomely in his role as vice chairman. His base salary was $16 million in each of the last three years, according to Berkshire’s proxy statement, and he received $3 million bonuses in 2020 and 2019 and a $2 million bonus in 2018. Buffett and Munger’s base salaries are a mere $100,000 annually.</p>



<p>Abel also serves on the board of Kraft Heinz and owns 40,036 shares individually, worth about $1.7 million. Berkshire Hathaway orchestrated the 2015 megamerger of Kraft and Heinz after buying both food companies with Brazilian private equity firm 3G Capital and is Kraft Heinz’s largest shareholder with a 26.6% stake.</p>



<p><strong><em>By Hank Tucker, Forbes Staff</em></strong></p>


Inside The Berkshire Hathaway Inc. Annual General Meeting

Just How Rich Is Warren Buffett Successor Greg Abel?


<p>During the abolitionist movement of the 19th century, journalists were among those leading the charge to eradicate slavery. Two centuries later, they’re continuing to inspire change, with leaders at the Boston University Center for Antiracist Research and the&nbsp;<em>Boston Globe</em>&nbsp;teaming up to apply the same pressure to ongoing racial injustice.&nbsp;</p>



<p>The result:&nbsp;<em>The Emancipator</em>, a platform cofounded by author, historian and Boston University Center for Antiracist Research director Ibram X. Kendi and&nbsp;<em>Boston Globe</em>&nbsp;editorial page editor Bina Venkataraman that will spotlight antiracism practices through the multimedia work of journalists, historians and scholars. Content will include written stories, research and interactive events like roundtables.&nbsp;</p>



<p>The idea for the initiative came to the cofounders in June, when, after discovering their shared interest in Boston-based, 19th-century antislavery publications, they started wondering, “Could we create a publication, a megaphone for leading thinkers, ideas and debates about bringing about a racially just society, in the same way that those abolitionists created a megaphone for thinkers who wanted to bring about the end of slavery?” says Venkataraman.</p>



<p>“In many ways, I have married scholarship and journalism in my own work, and what it’s allowed for is the ability to have the research techniques and methods and methodology combined with writing in a way that’s accessible for everyday people,” Kendi adds. “Putting both together under the same roof with [<em>The Emancipator</em>], I think it’s going to be quite effective. Quite impactful.”</p>



<p>Though the platform doesn’t officially launch until later this year, the cofounders are already establishing a team (they’re currently looking to hire two Boston-based co-editors-in-chief) and finalizing details. They’ve decided, for example, that all content will be free to the public. “We really believe that in order to move our society forward in this really ambitious way, we should be reaching as many people as possible,” says Venkataraman.&nbsp;</p>



<p>The team has also recruited an advisory board of journalists and scholars, including the&nbsp;<em>New York Times&nbsp;</em>Pulitzer Prize-winninginvestigative reporter Nikole Hannah-Jones, Harvard historian and author Annette Gordon-Reed, journalist and immigration rights activist Jose Antonio Vargas and The 19th CEO and editor-in-chief Emily Ramshaw. Members of the founding team also include Dr. Monica Wang, associate director of narrative for the Boston University Center for Antiracist Research, and Kimberly Atkins,&nbsp;<em>Boston Globe&nbsp;</em>columnist and MSNBC contributor.</p>



<p>Joining the effort is a full-circle moment for Atkins, whose first journalism job was at the&nbsp;<em>Boston Globe</em>. Atkins will serve as&nbsp;<em>The Emancipator</em>’s lead columnist and will author its biweekly newsletter, Unbound.</p>



<p>“This will be something more than simply a news organization . . . it’s something bigger,” says Atkins. “I’ve been asked a lot over the last year, ‘What can I do? How can I help? How can I understand?’ And there&#8217;s no easy answer to that. . . . A lot of that understanding needs to be grounded in research; it needs to be grounded in study and analysis. I can direct people [to&nbsp;<em>The Emancipator</em>] and say, ‘If you want to understand more, this is a place to start.’”</p>



<p>Kendi hopes to grow<em>&nbsp;The Emancipator&nbsp;</em>into “the premiere vehicle for sort of data-driven, research-based, evidence-based journalism and scholarship and opinion on the most important racial issues of our time.”</p>



<p>“If we can get to a time in which we could say that we’ve abolished racism, people will look back on <em>The Emancipator</em> and see that this multimedia platform was critical in that work, just like when we reflect on the movement against slavery in the 19th century,” he says.</p>



<p><strong><em>By Brianne Garrett, Forbes Staff</em></strong></p>


Celebrities Visit Build – March 10, 2020

‘It’s Something Bigger’: This New Platform Is Reimagining The Role Of News Media In Eradicating Racism


<p id="h-topline"><strong>TOPLINE</strong> The Food and Drug Administration on Thursday said it would attempt to ban menthol cigarettes nationwide, renewing a proposal that has long been pushed for by anti-tobacco groups and civil rights advocates.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>The&nbsp;<a href="https://www.fda.gov/news-events/press-announcements/fda-commits-evidence-based-actions-aimed-saving-lives-and-preventing-future-generations-smokers" target="_blank" rel="noreferrer noopener">announcement</a>&nbsp;marked the launch of a federal rule-making process that could take years and face challenges from the tobacco industry.</p>



<p>For decades, the tobacco industry has aggressively&nbsp;<a href="https://www.tobaccofreekids.org/assets/content/what_we_do/industry_watch/menthol-report/2021_02_tfk-menthol-report.pdf" target="_blank" rel="noreferrer noopener">marketed</a>&nbsp;menthol cigarettes to Black communities.&nbsp;</p>



<p>Nearly 85% of Black smokers smoke menthol cigarettes, according to the FDA.&nbsp;</p>



<h3 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h3>



<p>&nbsp;“For far too long, certain populations, including African Americans, have been targeted, and disproportionately impacted by tobacco use,” Mitch Zeller, the director of the Center for Tobacco Products at the FDA, said in a statement.&nbsp;“Despite the tremendous progress we’ve made in getting people to stop smoking over the past 55 years, that progress hasn’t been experienced by everyone equally.”</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>A court had ordered the FDA to respond by Thursday to a 2013 lawsuit that called for a ban on menthol cigarettes. The move would also prohibit flavors in mass-produced cigars and cigarillos.</p>



<p><strong><em>By Gina Heeb, Forbes Staff</em></strong></p>


Health Campaigners Call For A Tobacco Levy To Help Smokers Quit

FDA Proposes Menthol Cigarette Ban


<p id="h-topline"><strong>TOPLINE</strong> Facebook, the world&#8217;s largest social media company, posted its strongest first-quarter earnings yet Wednesday afternoon, shattering Wall Street expectations thanks to surging advertising revenues despite heightened competition from the likes of Google and threats on the regulatory front.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<ul><li>Menlo Park, Calif.-based Facebook <a href="https://investor.fb.com/investor-news/press-release-details/2021/Facebook-Reports-First-Quarter-2021-Results/default.aspx" target="_blank" rel="noreferrer noopener">reported</a> revenue of $26.1 billion in the first quarter, 48% more than the $17.7 billion it pulled in the first quarter of last year and nearly $3 billion more than analysts expected.</li></ul>



<ul><li>Net income also smashed expectations, hitting $9.5 billion, or $3.30 per share—well above average analyst expectations of $2.33 per share and nearly double income of $4.9 billion in the first quarter of last year.</li></ul>



<ul><li>Facebook’s monthly active users jumped about 50 million, meaning a record-breaking 2.85 billion people used the social network in the last month of the quarter. </li></ul>



<ul><li>A slew of analysts upped their Facebook price targets this week in anticipation of the better-than-expected earnings report, with Credit Suisse&#8217;s Stephen Ju on Monday saying improving ad trends should bode well for Facebook and Instagram&#8217;s bottom lines.</li></ul>



<ul><li>Facebook stock futures jumped 7% within minutes of the announcement; shares closed up 1.2% on Wednesday and have climbed about 14% for the year—better than the tech-heavy Nasdaq’s 11% increase.</li></ul>



<h3 class="wp-block-heading" id="h-big-number">BIG NUMBER</h3>



<p>$341.50. That&#8217;s how high analysts think Facebook shares can go over the next year, according to Bloomberg data, giving the stock about 11% upside to Wednesday’s closing price of $307.</p>



<h3 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h3>



<p>Facebook&#8217;s third-quarter&nbsp;<a href="https://investor.fb.com/investor-events/event-details/2021/Facebook-Q1-2021-Earnings-/default.aspx" target="_blank" rel="noreferrer noopener">earnings call</a>&nbsp;is at 5 p.m. EDT Wednesday.</p>



<h3 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE&nbsp;</h3>



<p>&#8220;We had a strong quarter as we helped people stay connected and businesses grow,&#8221; said&nbsp;<a href="https://www.forbes.com/profile/mark-zuckerberg/">Mark Zuckerberg</a>, Facebook’s billionaire founder and CEO. &#8220;We will continue to invest aggressively to deliver new and meaningful experiences for years to come, including in newer areas like augmented and virtual reality, commerce, and the creator economy.&#8221;</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>Founded in 2004 by a group of Harvard College classmates including Zuckerberg and fellow billionaire&nbsp;<a href="https://www.forbes.com/profile/dustin-moskovitz/">Dustin Moskovitz</a>, Facebook is now the fifth-largest U.S. company by market cap, worth a staggering $862 billion. More than 95% of the company&#8217;s revenue comes from advertising, with about 50% of sales saturated in the U.S. and Canada. Though Bank of America expects the stock could soar another 20% in the next three years, the biggest risks to watch for include declines in user activity, privacy issues, big-tech regulation and any adverse impact on advertising prices.</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.forbes.com/sites/greatspeculations/2021/04/27/facebooks-stock-to-grow-as-earnings-expected-to-beat-market-estimates/">Facebook&#8217;s Stock To Grow As Earnings Expected To Beat Market Estimates?</a>&nbsp;<em>(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/abrambrown/2021/04/28/why-mark-zuckerberg-wants-influencers-to-get-rich/">Why Mark Zuckerberg Wants Influencers To Get Rich</a>&nbsp;<em>(Forbes)</em></p>



<p><strong><em>By Jonathan Ponciano, Forbes Staff</em></strong></p>


In this photo illustration, Facebook CEO Mark Zuckerberg

Facebook Posts $26 Billion In Revenue, Shattering Wall Street Expectations As Income Nearly Doubles


<p id="h-topline"><strong>TOPLINE</strong> Apple reported a profit of $23.6 billion in its second quarter, up twofold from a year ago, on record sales of $89.6 billion, blowing past analysts’ expectations as iPhone sales remained strong after a record end to 2020.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<ul><li>Apple’s sales were up 53.7% jump from the same quarter last year, exceeding the $77.4 billion <a href="https://finance.yahoo.com/quote/AAPL/analysis?p=AAPL" target="_blank" rel="noreferrer noopener">expected by analysts</a>.</li></ul>



<ul><li>Net earnings were $1.40 per share, also well ahead of the consensus analyst expectation of 99 cents per share.</li></ul>



<ul><li>iPhone sales totaled $47.9 billion, accounting for 53% of Apple’s total revenue, far surpassing the $29 billion reported in the first quarter of 2020 and the $41.7 billion predicted by Wall Street analysts.</li></ul>



<ul><li>Revenue from services like iTunes and the App Store grew 27% to $16.9 billion, and sales of Mac computers, iPads and accessories like AirPods and watches also increased from last year.</li></ul>



<h3 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h3>



<p>“Success was broadly distributed across our product categories,” Apple CEO Tim Cook said in a Wednesday evening conference call.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>In the final three months of last year, Apple logged the&nbsp;<a href="https://www.forbes.com/sites/johnkoetsier/2021/01/27/apples-biggest-quarter-ever-all-the-insane-numbers/">best quarter</a>&nbsp;in its 45-year history, topping $100 billion in total sales and growing revenue for&nbsp;<a href="https://www.cnbc.com/2021/01/27/apple-aapl-earnings-q1-2021.html" target="_blank" rel="noreferrer noopener">virtually every product line</a>. Over&nbsp;<a href="https://www.apple.com/newsroom/pdfs/q4fy15datasum.pdf" target="_blank" rel="noreferrer noopener">the last</a>&nbsp;<a href="https://www.apple.com/newsroom/pdfs/Q1FY17DataSummary.pdf" target="_blank" rel="noreferrer noopener">decade</a>, iPhones have served as the Cupertino, Calif.-based company’s largest driver of revenue. Some&nbsp;<a href="https://www.forbes.com/sites/timbajarin/2020/11/01/will-5g-kick-off-a-smartphone-upgrade-supercycle/?sh=9fcbe876fd2b">observers</a>&nbsp;expected iPhone sales to remain fairly strong at the start of this year, as consumers continue&nbsp;<a href="https://www.wsj.com/articles/apple-aapl-2q-earnings-report-2021-11619572929" target="_blank" rel="noreferrer noopener">upgrading to pricier</a>&nbsp;5G-enabled smartphones. But the company has also&nbsp;<a href="https://www.apple.com/newsroom/pdfs/Q1FY17DataSummary.pdf" target="_blank" rel="noreferrer noopener">rapidly</a>&nbsp;<a href="https://www.apple.com/newsroom/pdfs/FY21%20Q1%20Consolidated%20Financial%20Statements.pdf" target="_blank" rel="noreferrer noopener">increased</a>&nbsp;the share of its revenue from online services, and sales have grown for accessories like watches and AirPods.</p>



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



<p>It’s&nbsp;<a href="https://www.forbes.com/sites/chuckjones/2021/04/28/the-two-most-important-numbers-in-apples-earnings-announcement/?sh=6df247e93b49">not unusual</a>&nbsp;for Apple’s revenue to drop significantly from the end of one year to the beginning of the next, as holiday shopping brings&nbsp;<a href="https://www.apple.com/newsroom/2021/01/apple-reports-first-quarter-results/" target="_blank" rel="noreferrer noopener">consumers into stores</a>&nbsp;and drives&nbsp;<a href="https://www.cnbc.com/2021/01/06/apple-app-store-customers-spent-record-540-million-on-new-years-day.html#:~:text=On%20top%20of%20that%2C%20Apple,for%20its%20Apple%20Books%20app." target="_blank" rel="noreferrer noopener">digital sales</a>.</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.forbes.com/sites/chuckjones/2021/04/28/the-two-most-important-numbers-in-apples-earnings-announcement/?sh=6df247e93b49">The Two Most Important Numbers In Apple’s Earnings Announcement (Forbes)</a></p>



<p><em><strong>By Joe Walsh, Forbes Staff</strong></em></p>


Author: Forbes

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