Here are the headlines you Need2Know for Friday, March 19, 2021:

COVID-19: LATEST DEVELOPMENTS

The EU’s drug regulator has deemed the AstraZeneca vaccine safe and effective, leading France, Italy, Germany and Spain to start resuming use of the shot. The French prime minister is getting the jab on live TV as a way to boost confidence -- just as Paris is going into another month-long lockdown because of a new wave that has overwhelmed hospitals. Meanwhile, the U.S. has a stockpile of tens of millions of doses of the AstraZeneca shot that are just sitting on the shelf, and the White House now says it will send millions of the vials to Mexico and Canada, where the vaccine is approved for use. AP

SPA SHOOTING VICTIMS

President Biden and Vice President Harris are going to Atlanta today to meet with Asian-American community leaders, after the White House ordered that flags on federal buildings be flown at half staff through Monday in honor of the victims of the Atlanta spa shootings. Those victims included a small business owner, an Army vet and a new bride who wanted to be pampered with her husband. READ THEIR STORIES

U.S.-CHINA TALKS

The U.S. and China are having the first high-level summit of the Biden administration -- and it's not going well. Taking place in Alaska, the talks began with both sides trading barbs and accusations: China’s top diplomat accused Sec. of State Blinken of being “condescending” and warned the U.S to stop meddling in China’s “internal affairs.” The U.S. delegation accused its counterparts of “grandstanding.” U.S. officials have said they plan to bring up China’s treatment of Uyghur Muslims and other serious issues. Relations between the two global superpowers are at their worst place in years. BBC

CHILD KILLED BY PELOTON

Peloton is urging customers to keep kids away from its workout equipment after a child was killed in an accident involving a Peloton treadmill. Details of the accident are unclear, but the company’s CEO wrote in a letter to customers that there have been a “small handful of incidents'' in which kids were injured by its Tread+ treadmill and reminded people to remove the safety key from the equipment after working out. NBC NEWS

STREAMING MEDIA MILESTONE

In a huge moment for streaming media, Amazon will be the new exclusive home of Thursday Night Football starting next year. The NFL reached long-term deals with all the big TV networks, too: NBC will keep Sunday Night Football, CBS and Fox will carry Sunday afternoon games, ESPN will remain the rightsholder for Monday Night Football and ABC will enter the Super Bowl rotation. Combined, the deals are worth north of $100 billion for the league. VARIETY

USE THE FORCE

Facebook gave a peek into the work it’s doing on a neural wrist device that the company says could one day replace the computer mouse and keyboard. The prototype wristband can read the nerve impulses sent from your brain down to your hand and then -- at least theoretically -- let you manipulate something like a menu that’s shown in augmented reality via a pair of smart glasses. Facebook is working on those glasses as we speak, with plans to release them later this year. AXIOS

MARCH MADNESS

Texas Southern, Norfolk State, Drake and UCLA advanced out of the “First Four” round (UCLA came back to win an OT thriller against Michigan State). The first round games start just after noon eastern on Friday with No. 10. Virginia Tech taking on No. 7 Florida: TOURNEY GUIDE

KANYE'S NET WORTH

How rich is Kanye West? A recent report from the bank UBS suggested the rapper-mogul was worth something in the neighborhood of $6.6 billion, which would make him the richest Black person in American history, topping the net worth of financier Robert F. Smith by a few hundred million. But Forbes, generally considered the arbiter of such matters, notes that the UBS analysis was including future sales projections for West’s collab with the Gap. The mag says his real net worth -- current revenues and assets -- is closer to $1.8 billion. The richest Black person in the world is the Nigerian philanthropist Aliko Dangote, with a fortune of $12 billion. FORBES

SPOTTED...

… A-Rod and J-Lo, packing on the PDA as they vacation in the Dominican Republic amid reports of strife in their relationship: SEE PICS

...staff members at Super Nintendo World in Japan, going absolutely bonkers as they open the park to the public after months of delays: WATCH

LEFTOVERS: SERIAL STOWAWAY

In perhaps the biggest sign yet that things may be starting to get back to normal, a woman with a prolific history of sneaking onto planes was arrested at Chicago O’Hare this week for trying to stowaway on a flight. Marilyn Hartman, 69, has been arrested 22 times for attempting to sneak onto a commercial flight or otherwise trespassing at airports. Hartman has made it past security several times, and once even successfully flew from San Jose to LAX without a boarding pass. SFGATE

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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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
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California Starts Largest U.S. Food Waste Recycling Program
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Sweetgreen Launches Salad Subscription Service 'Sweetpass'
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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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