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Here are the headlines you Need2Know for Monday, November 1, 2021:

ALL EYES ON GLASGOW

World leaders at the G20 agreed to stop funding new coal operations overseas, but could not come to an agreement on phasing out the fossil fuel for good. That does not bode well for talks at the COP26 UN climate summit, which kicks off today in Glasgow. President Biden is going into the summit with a weaker hand than he had hoped, as his climate legislation is still being negotiated in Congress. An agreement to significantly cut the use of coal in countries like Russia, China and India is one of several thorny issues that climate negotiators face in Glasgow over the next two weeks. NY TIMES

SCOTUS TAKES UP ABORTION

The Supreme Court will begin a series of showdowns over reproductive rights when justices hear oral arguments this morning in two cases related to Texas’ recent law that all but eliminates access to abortion in the state. The Texas reviews come before the Court is expected to hear a more consequential abortion case in Mississippi a month from now. The decision in that case could end up overturning Roe v. Wade. WASH POST

RITTENHOUSE TRIAL

Jury selection in another closely-watched, racially charged trial begins today, this time in Kenosha, Wisconsin. That is where Kyle Rittenhouse is going on trial for homicide. He is charged with fatally shooting two men at a protest that followed the police shooting of Jacob Blake last summer. Rittenhouse’s defense team will argue that he was acting in self-defense, while prosecutors will describe him as a vigilante who crossed state lines with an assault rifle looking for trouble. AP

TOKYO SUBWAY RAMPAGE

A 24-year-old man dressed in a Joker costume attacked passengers on a busy Tokyo train line, stabbing 17 people and starting a fire before he was arrested. The attack happened as trains were packed with Halloween revelers heading into the city. Video from the scene shows people running from a train car just before a blaze is ignited. According to local media reports, the suspect told police he “wanted to kill people so he could be sentenced to death.” BBC

MODERNA APPROVAL DELAY

The FDA has told Moderna that it needs more time to review its Covid vaccine for children aged 12 to 17. Moderna says regulators are looking specifically at the risk of myocarditis in kids and the vaccine’s emergency approval could be delayed until January. Moderna won’t submit its vaccine for kids in the younger age group until the FDA completes the current review. NPR

UNFRIENDLY SKIES

American Airlines is the latest carrier to suffer a weekend operational meltdown. American cancelled 1700 flights between Friday and Sunday, blaming a combination of bad weather at its DFW hub and prolonged staffing shortages, particularly among flight attendants. The cancellations started two days after an American flight attendant was hospitalized with broken bones after a first-class passenger punched her in the face when she bumped into him. CEO Doug Parker called that incident “one of the worst displays of unruly behavior” the airline has ever seen. CNN

'STROS STAY ALIVE

The  Astros kept themselves alive in the World Series, rallying from behind to beat the Braves, 9-5 in front of a standing-room-only crowd in Atlanta. The Braves came out swinging with a Grand Slam from Adam Duvall in the first inning, but the Astros outscored them 9-1 after that. The series goes back to Houston for Game 6 tomorrow. ESPN

CELEBS IN COSTUME

The celebs were out in force for Halloween weekend this year. From Hailey Baldwin as Britney Spears to Kerry Washington as contestant 456 from Squid Game, here are some of the best looks: SEE PICS

SPOTTED...

…President Biden, attending mass at St. Patrick’s Church in Rome, where he received communion (after a blessing from the pope): SEE PIC

...former President Trump, joining fans for the controversial “tomahawk chop” while on hand at Game 4 of the World Series in Atlanta: WATCH

...Alec and Hilaria Baldwin, speaking about the death of Halyna Hutchins for the first time on camera: WATCH

...Jay-Z, making history as the first living solo rap artist to get inducted into the Rock and Roll Hall of Fame: READ HIS SPEECH

...Pete Davidson and Kim Kardashian, holding hands on a roller coaster and sparking rumors that they’re dating: SEE PICS

LEFTOVERS: SLOW DOWN!

U.S. traffic deaths are at 15-year high, according to new federal data. The number of people who died in traffic-related accidents rose 18% in the first half of 2021, to more than 20,000. Behavioral research has linked a rise in reckless driving to the pandemic, though there is not one easy answer for why there have been more accidents on the road. There are growing calls for a national strategy to address the rise in traffic deaths, which Transportation Sec. Pete Buttigieg called a “crisis.” NBC NEWS

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Elizabeth Holmes Fraud Conviction Might Yield Five to Seven Years in Prison
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.
CES 2022 Begins on Wednesday
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 Starts Largest U.S. Food Waste Recycling Program
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.
Sweetgreen Launches Salad Subscription Service 'Sweetpass'
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.
Severe Snowstorm Blankets D.C., Mid-Atlantic Region
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.
Over 3,000 Flights Canceled on Monday Over Severe Weather, Crew Shortages
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.
End of Child Tax Credit Could Mean Slide Back Into Increasing Child Poverty
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.
NYT Piece Claims Silicon Valley Investors and Founders Contorted Legal Tax Break to Avoid Taxes on Investment Profits
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.
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