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Here are the headlines you Need2Know for Monday, December 6, 2021:

WAITING FOR OMICRON

Dr. Fauci says the early indications of the severity of the Omicron variant are “a bit encouraging.” Omicron has quickly become the dominant strain circulating in South Africa, but hospitalization rates there are yet to increase at an alarming rate -- suggesting the variant may be much more contagious than Delta but also less dangerous. While Omicron has now been confirmed in about a third of U.S. states, the Delta variant is still far and away the dominant strain circulating in the country and is driving a surge of hospitalizations in the North. AP

IN MEMORIAM: BOB DOLE

Bob Dole, the WWII veteran, longtime senator from Kansas and one-time GOP presidential candidate, has died. Over his long career as a Republican stalwart in Congress, Dole was known as a partisan-turned-skilled legislator who worked across the aisle with Democrats on issues like Social Security reform and the Americans with Disabilities Act. After he lost to Bill Clinton in 1996, Dole became something of a TV pitchman, cutting ads for Pepsi, Visa and, famously, Viagra. He was 98. OBIT

CRUMBLEYS LOCKED UP

The parents of the teenage boy who allegedly shot and killed four classmates at his Michigan high school are in custody. James and Jennifer Crumbley are being charged with involuntary manslaughter for allegedly providing their son with unfettered access to the gun he used in the shooting. They failed to appear for their initial arraignment, leading authorities on a manhunt that ended with their arrests at a warehouse in Detroit. All three Crumbleys -- the mother, father, and son -- are being held in isolation at the same jail, each under suicide watch. CNN

SUU KYI SENTENCED

A court in Myanmar has sentenced Aung San Suu Kyi, the country’s former civilian leader, to four years in prison on charges of inciting public unrest and breaching Covid protocols. The sentence is the first of several expected to be handed down in the coming months against the Nobel laureate, which could keep her locked up for the rest of her life.  Suu Kyi was deposed in a military coup in February that led to violence and protests across the country. AL JAZ

BITCOIN CRASH

Bitcoin is currently trading around $48,000, down from $57,000 on Friday morning. The cryptocurrency had an extremely volatile weekend, tumbling 20% to $43,000 before recovering some. The president of El Salvador, who recently adopted Bitcoin as a national currency, said the country bought 150 coins on the dip. The crypto market has been seeing wild swings as investors sell off riskier assets as they watch what the Omicron variant could mean for the markets. COINDESK

TWITTER POST-JACK

Twitter’s new chief executive is in the midst of a major shakeup of the social media company following the departure of Jack Dorsey. Twitter’s heads of design and engineering are out as part of the reshuffling, which CEO Parag Agrawal says is in the name of “operational rigor” and “faster execution.” The reorg comes as the platform has started a new policy on what kinds of images users can and can’t share. Going forward, Twitter will have the right to take down any photo or video taken of someone without their consent -- unless it’s in the public interest to keep it up. WASH POST

CFP SET

No. 1 Alabama will play No. 4 Cincinnati and No. 2. Michigan will play No. 3. Georgia in the College Football Playoff on New Year’s Eve. The winners of those two games will compete in the national championship game on Jan. 10 in Indianapolis. Cincinnati is the first school from a non-Power 5 conference to make the playoff since its inception in 2014. ESPN

CUOMO FIRED

Chris Cuomo will not be coming back to CNN. The network fired their top-rated primetime anchor over the weekend after an internal investigation into his efforts to help his brother, Andrew, uncovered “additional information.” It’s not clear what that additional information is, but Cuomo’s termination came after a separate anonymous allegation of sexual misconduct was made against him by a former colleague at another network. Cuomo has denied that allegation. THE WRAP

SPOTTED...

...Ben Affleck, Jennifer Lopez, and their kids, catching a showing of Licorice Pizza in L.A.: SEE PICS

...the leaked cover of W magazine, featuring Kylie Jenner and Travis Scott, that was scrapped in the aftermath of the Astroworld tragedy: SEE IT

LEFTOVERS: MYSTERY ON THE MOON

China’s lunar rover has spotted a mysterious cube-shaped object on the horizon, and will spend the next couple months trying to get a closer look. The Yutu-2 rover has been exploring the far side of the moon since it landed in 2019, and recently snapped an image of what the Chinese space agency is calling a “mystery hut”: SEE IT

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More In Culture
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.
Competitive Stock-Trading Mobile App Zingeroo Raises $8.5 Million
There is a new player in the mobile app stock trading space. Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
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