Here are the headlines you Need2Know for Friday, June 25, 2021:

MIAMI BUILDING COLLAPSE

A massive search and rescue operation is continuing in Surfside, Florida, just north of Miami Beach, where a 12-story condo building partially collapsed into a mountain of debris early Thursday morning. At least 1 person is dead and 99 more are still unaccounted for. The cause of the collapse is unknown. Surveillance video shows the building’s lower floors buckling before the structure pancaked in on itself, suggesting a possible failure with the concrete columns, according to engineers. MIAMI HERALD

INFRA DEAL

President Biden struck a bipartisan deal with a group of Democratic and Republican senators for a $579 billion infrastructure package. It’s a major breakthrough for the White House’s economic agenda, though the compromise would still need to pass both chambers of Congress. The president announced the agreement alongside the moderate senators that made it happen, saying it “reminds me of the days we used to get an awful lot done up in the United States Congress.” The White House wants to pursue the bipartisan infrastructure framework while also pushing for a second spending bill that Democrats could pass through the budget reconciliation process without Republican support. WASH POST

AMERICA'S MAYOR

Rudy Giuliani is banned from practicing law in the state of New York, the first step toward a possible disbarment for the former federal prosecutor and NYC mayor. A state appellate court temporarily yanked Giuliani’s law license because of the “demonstrably false and misleading statements” he made on behalf of former President Trump’s efforts to overturn the election. He can fight the decision, but faces disciplinary proceedings that could end his law career. NY TIMES

HOT EARTH SUMMER

NORTH AMERICA: The Pacific Northwest is the latest region to get blasted with an early summer heat wave. A heat dome is descending on the area this weekend, extending from British Columbia to Portland, where it’s expected to reach 113 on Sunday. Meteorologists are warning that the heat is especially dangerous because so many residents don’t have air conditioning. ACCUWEATHER

WORLD: Another heat dome has been roasting parts of eastern Europe and Russia. Moscow and St. Petersburg broke their June temperature records this week, as did the entire countries of Estonia, Hungary and Belarus. Recent satellite imagery recorded a ground temp of 118 in Siberia. GIZMODO

BUZZFEED GOES PUBLIC

BuzzFeed is going public at a valuation of about $1.5 billion. The digital media giant is taking the SPAC route, merging with a so-called “blank check” company to reach the public markets rather than filing for a traditional IPO. BuzzFeed is also acquiring Complex, the music and pop culture site, from Verizon for $300 million as it tries to build scale to compete with Amazon, Google and Facebook in digital advertising. WSJ

LONG LIVE THE DESKTOP

WINDOWS: Microsoft announced the first major update to Windows since 2015. Called Windows 11, the spruced-up desktop operating system looks much different from the Windows of the past with a simplified design and interface more closely resembling what you’d see on a Mac. Windows 11 also runs Android apps, integrates with XBox and Teams and features performance boosts. The software is expected to launch later this year. CHEDDAR

INSTA: Instagram is testing the ability for users to post directly from their desktop browsers, the first time Insta has ever allowed posting from outside the app and a sign it may be trying to drive traffic to its famously non-functional website. The pilot comes after the Facebook-owned service confirmed it was also tinkering with the algorithm by starting to place “suggested posts” interspersed throughout the main feed for the first time. PETAPIXEL

FUR FREE

Canada Goose says it will stop selling fur by the end of next year. The maker of high-end parkas will stop buying the coyote fur that it uses to insulate the hoods of its pricey down-stuffed coats, becoming the latest luxury brand to drop fur or exotic animal skins. Burberry, Prada and Nordstrom have also committed to going fur-free in recent years. SOURCING JOURNAL

HAPPY TRAILS

Conan O’Brien signed off his TBS show, exiting late night after a prolific 30-year run. Conan’s final guests were Will Ferrell, Jack Black and Homer Simpson, who conducted an exit interview with the host (and former Simpsons writer). Conan thanked the network, his family, staff and friends before saying goodbye before he launches a new variety show for HBO Max: WATCH

SPOTTED...

…the first new mega-casino-hotel to open on the Vegas strip in more than a decade. Resorts World Las Vegas has an 1,800 sq ft. infinity pool, 40 restaurants and bars and a 117,000 sq ft. casino that uses “cashless wagering technology”: SEE IT

LEFTOVERS: UNCROPPED

One of the most famous paintings in the world is back on view -- and for the first time in 300 years -- as it was originally intended to be seen by the artist. Rembrandt’s The Night Watch has been undergoing a multimillion-dollar restoration at the Rijksmuseum in the Netherlands for the last two years. Advanced A.I. computing models were able to recreate sections of the massive canvas that had been lost since it was cut up to fit it on a wall in 1715. The Dutch museum unveiled the restored masterpiece to visitors this week: SEE IT

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!

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NYT Piece Claims Silicon Valley Investors and Founders Contorted Legal Tax Break to Avoid Taxes on Investment Profits
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