Here are the headlines you Need2Know for Thursday, August 13, 2020:

COVID-19: LATEST DEVELOPMENTS: The U.S. is in its fourth week of four-digit death tolls, with Florida and Georgia both recording their highest single day tolls yet. The virus is spreading in Hawaii and parts of the rural Midwest that had so far been mostly spared. Data on hospitalizations has slowed after the HHS took control of how it was being collected from the CDC. Lawmakers remain deadlocked on what to do about a new economic rescue bill. NY TIMES

BIDEN-HARRIS DEBUTS: Joe Biden officially introduced Kamala Harris as his running mate at a socially-distanced event in Delaware, where Harris repeatedly hammered President Trump on the administration’s coronavirus response -- a sign that Democrats see that as the cornerstone of their campaign strategy into the fall. The Republican message appears less focused for now: the president called her “phony” and “nasty” while others painted her as a far-left radical intent on hijacking the Biden presidency. WASH POST

FOOTBALL LATEST: The Big 12 is moving ahead with plans to play college football in the fall. The conference will play its normal “9+1” schedule but will shift the season back to Sept. 26 and give every team two weeks off for flexibility. The Big 12 includes Kansas, Baylor, Oklahoma and Texas, among others. The SEC and ACC appear to be moving forward with plans to play as well. In the NFL, the Washington Football Team will play without fans, while the Cowboys say they plan to have fans at AT&T Stadium. NPR

RESTAURANTS IN CRISIS: The restaurant industry in the U.S. appears to be in the early stage of collapse, with trendy hotspots and neighborhood staples alike closing in cities across the country, unable to stay afloat without substantial help from the government. Uncle Boons, one of the most popular restaurants in NYC, is closing. Miami’s losing the iconic Rio Cristal. Racine’s in Denver. Lou’s in San Francisco. The list is piling up. The CEO of OpenTable is predicting one in four restaurants in the country will permanently close because of the pandemic. BLOOMBERG

IN MEMORIAM: SUMNER REDSTONE: Sumner Redstone, the media mogul who turned a family drive-in movie business into a global empire that included Viacom, Paramount Pictures, Simon & Schuster and CBS, died at the age of 97. Redstone was known as much for his hard-charging style as he was for his personal and family drama. He fought publicly for years with his daughter, Shari, over control of National Amusements, the family company, and had ongoing legal battles with live-in girlfriends over his estate. But he also built a media behemoth under the simple proclamation: “Content is king.” OBIT

UBER IN CALIFORNIA: The CEO of Uber says the company will have to temporarily shut down in California if a ruling that it must classify drivers as employees is upheld on appeal. Dara Khosrowshahi says if that happens, it will take months for Uber to retool its business model and would likely return as a smaller, more expensive service. In a recent op-ed, he argued for a “third way” of classifying gig workers: READ IT

NBA BUBBLE GUESTS: The NBA has told players they can’t bring “casual acquaintances” -- defined as anyone “known by the player only through social media or an intermediary” -- with them into the bubble. The league will start to let guests in for the conference semifinals at the end of the month, but sent a memo reiterating that it only applies to family members or those with a “long-standing relationship” to the player. ESPN

TIKTOK COMEDIAN GOES BIG TIME: Sarah Cooper, the comedian who struck viral gold with her lip-sync impersonations of President Trump on TikTok and Twitter, is getting her own Netflix special. Sarah Cooper: Everything’s Fine will be directed by Natasha Lyonne and executive produced by Maya Rudolph. The special premieres sometime in the fall. If you’re unfamiliar with Cooper’s work, here’s a compilation: WATCH

SWEET HOME SANTA BARBARA: Prince Harry and Duchess Meghan have reportedly bought a home and plan to set down roots in Santa Barbara County, Calif. The couple, along with baby Archie, are said to be the new owners of an $16 million compound in the ultra-wealthy enclave of Montecito, a stone’s throw from the homes of Ellen DeGeneres and Oprah Winfrey. NOOZHAWK

LEFTOVERS: LET IT FLOW: The Dept. of Energy has proposed a new rule that would change the definition of a showerhead to let more water come out, after President Trump has repeatedly complained about the water pressure in the shower. Since 1992, it’s been the law that showerheads can’t pour more than 2.5 gallons per minute, as a way to conserve water. The Obama administration applied that law for showerheads with multiple nozzles. The new rule would allow each nozzle to spray 2.5 gallons, instead of a total of 2.5 gallons. AP

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!

Share:
More In Culture
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.
Load More