Here are the headlines you Need2Know for Thursday, July 1, 2021:

COSBY FREED

Bill Cosby is a free man after the Pennsylvania Supreme Court overturned his sexual assault conviction. The decision was not expected; the court ruled that Cosby was denied his Fifth Amendment right against self-incrimination when an earlier prosecutor agreed not to charge him, though that agreement apparently was never put into writing. The 83-year-old comic had served about three years of a three-to-10 year sentence for drugging and assaulting Andrea Constand in 2004, one of 60 women who had publicly accused him of rape or sexual misconduct over the years.  NBC NEWS

CONDO COLLAPSE LATEST

President Biden will visit the rescue operation underway in Surfside, Fla. today, where crews pulled the bodies of two children from the rubble as the death toll reached 18. Reinforcements from across the country are coming in to help relieve some of the first responders who have been working nonstop, at least one of whom has been hospitalized with exhaustion. Newly surfaced video taken by a passerby moments before the Champlain Towers South building collapsed shows water pouring from the roof of the parking garage and debris falling on the ground: SEE IT

DONALD RUMSFELD: 1932-2021

Donald Rumsfeld, the consequential -- and controversial -- defense secretary to two presidents, has died. Rumsfeld ran the Pentagon in the Ford administration and then came back to the job under President George W. Bush, where he oversaw the War on Terror and invasions of Afghanistan and Iraq before he was pushed out in 2006. Rumsfeld was 88. OBIT

CAPITOL RIOT COMMITTEE

The House will form a select committee to investigate the Jan. 6 Capitol riot after voting nearly along party lines to establish the slimmed-down panel, which will be controlled by Democrats. House Republicans will have a say in choosing five of the 13 members in consultation with Speaker Pelosi. She’s reportedly considering picking a Republican like Rep. Liz Cheney to fill one of the other eight slots. POLITICO

THE UBER OF CHINA

Didi, the ‘Uber of China’, is now a publicly traded company in the U.S. Didi went public in the biggest IPO by a Chinese company since Alibaba made a splash in 2014. To give a sense of how big Didi is, the platform boasts more active users than there are people in the United States. Uber sold its business in China to Didi five years ago in exchange for a stake in the company -- that stake is now worth more than $8 billion. CHEDDAR

APPLE'S STREAMING TEST

The free ride you may have been enjoying with Apple TV+ is coming to an end -- or at least, it’s being shortened. As of today, customers who buy new Apple devices will only get three months of the streaming service thrown in, instead of the year that has been the norm. Also this month, the first people to activate that promotional offer when it started back in Sept. 2019 will start getting billed $5 a month, after that promo was extended twice. Nearly two-thirds of Apple TV+ subscribers are getting the service for free through promotions, according to an industry survey taken earlier this year. STREAMABLE

GAME CHANGER

Every NCAA athlete in America will be able to earn money from endorsements and other ventures as of today. The NCAA Division I board adopted a rule to temporarily suspend the policy against student athletes profiting off their name, image and likeness. The change comes as several states have their own ‘NIL’ policies going into effect today, and the NCAA says it’s working with Congress on legislation that would make the guidelines permanent. Here’s a list of some of the big-name athletes who are favorites to cash in: ACTION NETWORK

ALLISON MACK TO JAIL

Former Smallville actress Allison Mack has been sentenced to three years in federal prison for her role as a leader of the NXIVM self-help group/alleged sex cult. Mack had pleaded guilty to racketeering and conspiracy charges and faced up to 40 years behind bars. Prosecutors recommended a more lenient sentence because Mack cooperated with the government. PEOPLE

SPOTTED...

...the most expensive home in Washington D.C., on the market for $18.5 million. Philanthropist owner Adrienne Arsht told Politico she needed to sell the Beaux Arts mansion because it was too small to fit a full orchestra: SEE THE LISTING

...a flying car prototype, making the first ever flight between two cities before turning back into a sports car. The AirCar requires a runway to take off, unlike the drone-taxis that are also in development: WATCH IT

LEFTOVERS: OLYMPIAN MOMS

Olympic organizers reversed course and will now allow breastfeeding athletes to bring their young children along with them to Tokyo. The reversal comes after several Olympians, including Canada’s Kim Gaucher and the U.S. soccer star Alex Morgan, said they felt they were being forced between being mothers and competing in the Games. Nursing mothers and their babies will stay at approved hotels outside the Olympic Village. TODAY

Listen to the N2K Podcast! Looking for more context and analysis on the big stories of the day? Check out our podcast! Hosts Jill and Carlo break down the headlines, every weekday morning Listen on Apple or Spotify, or watch on YouTube, and send us your feedback!

Share:
More In Culture
20-Year-Old Entrepreneur Tania Speaks on Emotional 'Shark Tank' Deal With Mark Cuban
Season 13 "Shark Tank" contestant Tania Speaks secured a $400,000 deal for her Speaks Organic Skincare brand with "Shark" Mark Cuban while also being named one of the best pitches in the history of the show — all at 19 years old. Now 20, Speaks joined Cheddar News to talk about the skincare line, the clean beauty industry, and the moment that host Cuban was moved by her pitch. "I couldn't believe that he got emotional. I'm surprised I held back my tears that long," the young entrepreneur revealed. "It's just amazing for someone else to be inspired by your story, especially Mark Cuban himself."
ViacomCBS Rebrands as Paramount Global, Puts Emphasis on Streaming
The media giant formerly known as ViacomCBS has officially rebranded itself as Paramount Global with a focus on its streaming service, Paramount Plus. Naveen Chopra, chief financial officer at Paramount, joined Cheddar to discuss the company’s name change and streaming wars. "There are components of content licensing that we continue to do, either historical arrangements or opportunities to license content that don't really impinge on what we're trying to do with our owned and operated services and that continues to be an important ingredient in our broader financial model," he said. "But our number one priority is putting our best assets on Paramount Plus." Chopra also discussed theatrical release windows before feature films hit its service and the platform's subscription goals.
ULTA Beauty To Spend $50 Million On Diversity Initatives
In efforts to help support black-owned brands. Ulta Beauty says it will make a commitment to not only give these brand shelf space but also help them navigate the ins and outs of growing a business. Last week, the beauty retailer announced in order to reach those goals, the company will spend $50 million on diversity and inclusion programs, including an accelerated program to mentor entrepreneurs of color. CEO of Ulta Beauty, Dave Kimbell, joined Cheddar to discuss more.
U.S Chamber of Commerce Hosts Virtual Event 'Developing the Black-Owned Business Ecosystem'
For black history month, Cheddar is highlighting black business leaders who are driving the need for representation forward. On February 10, the U.S. Chamber of Commerce hosted an event called 'Developing the Black-Owned Business Ecosystem.' The virtual event was organized under the lobbying group's two initiatives -- the Equality of Opportunity Initiative, and the Coalition to Back Black Businesses. The event highlighted the developments needed to develop more black-owned businesses in the U.S. Dr. Anthony Wilbon, Dean of the School of Business at Howard University, joined Cheddar News' Closing Bell to discuss his experience as a speaker at the event.
Bringing Black History Month Celebrations to Your Business
While Black History Month is a time to celebrate the achievements of Black Americans, it's also a time to reflect on how they can be better heard and supported. Black Americans are still fighting for voting rights, facing more severe impacts from COVID-19, and experiencing gaps in workforce representation and pay. Alexandra Schrecengost, hybrid work expert and CEO of "Virtual With Us" and "Culture With Us,' joined Cheddar News to discuss.
Load More