Huawei tried to get the U.S. courts to rule against the 2018 law that banned it from business with federal agencies, but a federal judge threw the case out yesterday. "Contracting with the federal government is a privilege, not a constitutionally guaranteed right—at least not as far as this court is aware," said Judge Amos Mazzant of the U.S. District Court in East Texas. Wall Street Journal
Alphabet has made its first closure of a "moonshot" project since founders Sergey Brin and Larry Page took a back seat at the end of last year. The victim: Makani, the Google parent's power-generating-kite venture. Losses in Alphabet's "Other Bets" segment are mounting, so CEO Sundar Pichai is under pressure to get rid of the relative duds. Financial Times
British industry is up in arms after the Conservative government said it would close the U.K.'s borders to unskilled labor. Under the proposed new rules, anyone moving to the country will have to be skilled and speak English, and have a job offer that clears a minimum salary threshold. It's a straight "no" to the self-employed. The hospitality and care industries are particularly worried. Guardian
Asian American businesses are suffering due to fears about the spread of Covid-19 in the U.S. Customers are staying away; events organizers are fielding xenophobic calls. With business down 40% or more, some firms are temporarily shuttering properties. Fortune
AROUND THE WATER COOLER
The race is on to seize the leadership of Angela Merkel's Christian Democratic Union party—a role that almost certainly means candidacy for the post of German chancellor after Merkel's planned departure. Meet the likely candidates (the first declared yesterday), who represent very different takes on conservatism: Armin Laschet, Friedrich Merz, Jens Spahn and Norbert Röttgen. Fortune
President Trump has pardoned "junk bond king" Michael Milken and commuted the sentence of the corrupt former Illinois governor Rod Blagojevich—the latter having been a contestant on Trump's Celebrity Apprentice while awaiting trial. According to Trump, Blagojevich's 14-year sentence, which he began serving in 2012, was "tremendously powerful [and] ridiculous." Reuters
If Michael Bloomberg wins the presidency, he will sell his eponymous company, campaign adviser Tim O'Brien has said. O'Brien: "There will be no confusion about any of his financial holdings blurring the line between public service and personal profiteering…We will be 180 degrees away from where Donald Trump is on these issues because Donald Trump is a walking financial conflict of interest." CNN
Beijing is pushing companies, ranging from airlines to drug distributors, to issue cheap "virus bonds" in order to shore up the economy and fight the Covid-19 epidemic. The firms have to spent at least 10% of the proceeds on fighting the coronavirus outbreak; regulators are fast-tracking the sales. Financial Times
This edition of CEO Daily was edited by David Meyer.
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