From Queen Bey's tribute to the Queen of Rock 'n' Roll to the banning of a historic poem, here are your top entertainment headlines.
Note: A major 'Succession' spoiler appears as the last item in today's article. Stop reading after the third story if you're not up to date on Season 4.
BEYONCÉ HONORS TINA TURNER
With the passing of Tina Turner at 83, tributes for the pop legend are pouring in. Among those paying tribute to Turner are other musical legends such as Beyoncé, Cher, and Pete Townshend of The Who. Beyoncé, in particular, stressed that Turner paved the way for her career and so many other musicians. “My beloved queen, I love you endlessly,” Beyoncé wrote on her website. “I’m so grateful for your inspiration, and all the ways you have paved the way."
INAUGURATION POEM BANNED
A South Florida elementary school has restricted the poem read at President Joe Biden's inauguration. Poet Amanda Gorman, who wrote the prose for the event, has vowed to fight back against the ban. “I'm gutted,” she wrote in an Instagram post. “Robbing children of the chance to find their voices in literature is a violation of their right to free thought and free speech."
REGAL OWNER EXITS BANKRUPTCY
Regal owner Cineworld has announced plans to exit Chapter 11 bankruptcy in July after restructuring its debt over the last nine months. The British-owned movie theater chain was considering selling all or part of its business, but opted for a restructuring that will wipe out its shareholders and ultimately lead to the firm being delisted. The news marks another milestone in the movie industry's ongoing recovery from the early days of the pandemic.
MAJOR 'SUCCESSION' SPOILER ALERT BELOW: DO NOT READ FURTHER IF YOU ARE NOT UP TO DATE
BRIAN COX ON 'SUCCESSION' TWIST
The final season of HBO's Succession has gotten plenty of nitpicking from long-time fans, and now star Brian Cox is joining the peanut gallery. Cox said the death of his character Logan Roy early in the fourth season came too soon. “I was fine with it ultimately, but I did feel a little bit rejected," he told the BBC. "You know, I felt a little bit, oh, all the work I’ve done and finally I’m going to, you know, end up as an ear on a carpet of a plane." Series creator Jesse Armstrong separately said he wanted Roy to die early on, so the show could explore the aftermath.
The six-month trial of Theranos founder Elizabeth Holmes has come to an end with the former tech startup star found guilty of four out of 11 counts of fraud. Michael S. Weinstein, Esq, chair of the white collar criminal defense practice at Cole Schotz, and former Department of Justice trial attorney, joined Cheddar News Wrap to discuss what happens next for the former mogul. "Do I think it's going to be more than five or seven years? Probably yes. I think that's probably a fair range at this point," he said about her potential prison sentence.
We are just one day away from what has been called the most influential tech event in the world. CES 2022 will officially kick off on Wednesday in Las Vegas, but the annual tech summit is being impacted by COVID-19, like so many other recent events. The Consumer Technology Association originally planned for a hybrid event to take place from January 5-8, with some in-person events and some virtual; however, a few big-name companies announced they will not be attending in-person, so the CTA decided to shorten the event by one day, with it now ending on Friday. Consumer electronics senior analyst Will Greenwald joins Cheddar News' Closing Bell to discuss.
California's new composting law will affect what residents do in their kitchens. As of this week, Californians will have to recycle excess food in an effort to reduce emissions caused by food waste. Cities and counties will turn recycled food into compost or use it as a renewable energy source. California's new law is the largest mandatory residential food waste recycling program in the country. Rachel Wagoner, Director of the California Department of Resources, Recycling and Recovery called the law 'the biggest change to trash' since recycling started in the 1980s. She joined Cheddar Climate to discuss.
Fast-casual restaurant chain Sweetgreen is rolling out its first salad subscription service called sweetpass as it looks to customers tackling new year weight loss and health goals. Members will receive up to 30 percent off of purchases.
Washington DC and the surrounding areas saw a record breaking snow storm Monday as a strong storm system works its way across the eastern U.S. The extreme weather event caused extensive damage in the greater Washington area, leaving thousands in the region without power. Jonathan Porter, Chief Meteorologist, AccuWeather, joined Wake Up with Cheddar to discuss the fierce storm.
Airlines canceled more than 3,000 flights on Monday over severe weather and crew shortages. The cancellations come on one of the busiest travel days of the holiday season, and is a continuation of the industry-wide disruption that started before Christmas. Thomas Pallini, Aviation Reporter for Insider joined Wake Up with Cheddar to discuss.
Millions of Americans with young children have relied on the child tax credit since the federal government began issuing checks in July 2021. The last round of payments was sent out just before the Christmas holiday — at the same time as the omicron variant surged. Leah Hamilton, associate professor of social work at Appalachian State University, joined Cheddar to discuss what the end to the tax credit means as the U.S. sees the end of many relief programs and its highest number of COVID cases since the start of the pandemic. "It'll become harder for families to meet their basic needs, increasing national childhood poverty rates and the proportion of families who have difficulty putting food on the table, maintaining stable housing, and paying their bills," Hamilton said. She also pointed to research that the credit as a long-term investment in children offsets claims that it contributes to macroeconomic impacts like inflation.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
