Here are the headlines you Need2Know for Tuesday, November 17, 2020:

COVID-19: A NEW HOPE

A second coronavirus vaccine is showing extremely positive results in trials. Moderna, which is part of the White House’s Operation Warp Speed, reported that its experimental mRNA vaccine is 94.5 percent effective in stopping COVID-19. Importantly, the results noted that the vaccine is showing to be effective in elderly and minority patients, the groups at highest risk. That follows the news last week that Pfizer’s vaccine, which uses similar technology, is over 90 percent effective. The big difference between the two is that Moderna’s drug doesn’t need to be stored at ultra-low temperatures, so the logistics of distributing it will be less challenging. STAT

PRESIDENTIAL TRANSITION

President Trump was reportedly talked out of launching a military strike on Iran last week in response to reports that the country had increased its stockpile of uranium. The vice president, secretary of state, and others all advised the president against an attack that could have escalated into a broader conflict in the last weeks of his term. Meanwhile, President-elect Biden took on a sharper tone, warning that the continued delays in the transition process risk harming the government’s pandemic response. Georgia Sec. of State Brad Raffensperger says he has been pressured by fellow Republicans, including Sen. Lindsey Graham, to find ways to exclude legally cast ballots in that state’s recount. WASH POST

MONSTER HURRICANE

Hurricane Iota made landfall along the coast of Nicaragua overnight,  just shy of Cat. 5 status. Iota is pummeling an area still recovering from Eta’s landfall two weeks ago. Forecasters are warning that parts of Central America could see the worst flooding in 1,000 years and the possibility of a catastrophic humanitarian disaster. Iota is the second most-intense Atlantic hurricane on record in the month of November, and the first of 2020 to have reached Category 5 intensity. ACCUWEATHER

DOW 30,000?

Powered by the positive vaccine news from Moderna, stocks rocketed to new highs to start the last full trading week before the holiday season. The Dow is now just 50 points from hitting the 30,000 milestone. The stocks that have been fueling this most recent rally are mostly companies that have been pummeled by the pandemic: Carnival Cruise, Hilton Hotels and United Airlines, among them. CHEDDAR

AIRBNB IPO

Airbnb has filed to go public by the end of the year in a $1 billion IPO. The slimmed-down company managed to turn a profit last quarter after cutting costs, despite the headwinds that the hospitality industry has been facing all year -- and despite Airbnb's business model being all but written off in the early days of the pandemic. Airbnb plans to list on the Nasdaq sometime next month under the ticker ABNB. AXIOS

ZOOM THANKSGIVING

If you’re not able to make it home for Thanksgiving this year, Zoom is making it easier to have a virtual turkey dinner with your family or friends. The video-conferencing service will lift its 40-minute cap on free calls from midnight ET next Thursday until 6 am Friday. All video calls for those 30 hours will be free, no matter how long they go. CNET

MARCH MADNESS BUBBLE

There will be March Madness next year, come hell or high water. The NCAA has announced that the Division 1 college basketball tournament may be played entirely in Indianapolis next March, ideally at a single site. The status of the women’s tournament is still TBD. The college basketball regular season starts Nov. 25. INDY STAR

TAYLOR SWIFT MASTERS

The rights to Taylor Swift’s first six albums have been sold by her former manager, Scooter Braun, to a private equity firm for a reported $300 million. Swift, who remains in a long-running feud with Braun over the recordings, wrote on social media that this is the second time her music catalogue has been sold without her knowledge. She is free to re-record songs from her first five albums as of this month and has said she plans to do so in order to decrease the value of the original masters. VARIETY

SPOTTED...

...Baby Yoda, floating around the Crew Dragon capsule as it rocketed toward the ISS. The astronauts used the plush toy as their “zero G indicator” -- a low-tech way of telling when they’ve left Earth’s orbit: SEE IT

...one big rock on the finger of Gwen Stefani during her appearance at the People’s Choice Awards. Fiancé Blake Shelton popped the question last month: SEE IT

LEFTOVERS: OUTDOOR DINING RENAISSANCE

One of the biggest success stories of the pandemic has been the explosion of outdoor dining options in cities and towns across the U.S. Some restaurants have gone above and beyond, turning their patios/curbsides/parking lots into full-blown, open-air paradises. Here’s some of the best-designed al fresco dining experiences in America: ARCHITECTURAL DIGEST

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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Pressure to Settle $1 Billion Claim From Nassar Survivors Against FBI
Survivors of Larry Nassar, including Olympian Simone Biles, are seeking $1 billion in damages from the FBI due to its failure to investigate the former gymnastics team doctor convicted of committing years of serial sexual abuse of minors. Jack Queen, a senior reporter at Law360, joined Cheddar News to break down the legal grounds of this case. "This is one of the biggest black eyes that the Bureau has faced in generations, quite frankly, and the FBI has taken full responsibility and admitted that it completely botched this investigation," he said. "So, there's a lot of pressure to settle."
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U.S. Stocks Closed at Session Highs Tuesday
U.S. stocks close Tuesday at session highs after a subpar start to the trading day. Tim Chubb, Chief Investment Officer at the wealth advisory firm, Girard, joins Cheddar News' Closing Bell to discuss. 'We're starting to see the moderation of three core things -- we've seen the moderation of prices, we've seen the moderation of wage growth we've seen in the labor market, and we've also seen a moderation of job openings,' he says.
Gymnasts Seek $1 Billion From FBI Over Larry Nassar Case
The victims from the USA gymnastics sexual abuse scandal continue to seek justice. Survivors of Larry Nassar are seeking more than one-billion dollars from the FBI for failing to stop the convicted sports doctor when the agency first received allegations. According to a report released by the Justice Department's Inspector General, FBI agents knew in July of 2015 that Nassar was accused of abusing gymnasts; however, Nassar wasn't arrested until December of 2016. The group that filed the claim includes Olympic medalist Simone Biles and around 90 other women. Louise Radnofsky, sports reporter at The Wall Street Journal, joins Cheddar News' Closing Bell to discuss.
Kat Tat on Becoming 'Elite' Black Woman Tattoo Artist in Unwelcoming Industry
Tattoo artist Katrina "Kat Tat" Jackson, famous for starring in the VH1 hit series "Black Ink Crew: Chicago," is also the first Black woman to own a tattoo shop in Beverly Hills. She joined Cheddar News to discuss her trailblazing work, the stigma BIPOC tattoo artists face in the industry, and the way the space has changed for artists of color since her start. "In the beginning, I remember walking into a tattoo shop just like, hey, I wanna learn, I wanna be a tattoo artist and kind of just being laughed at, not taken seriously," she said. "Even with the tattoo conventions, a lot of African American tattoo artists were almost scared to go to conventions because it's not a welcoming environment."
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