Here are the headlines you Need2Know for Wednesday, June 24, 2020:
EU TRAVEL BAN: The European Union is reportedly planning to ban Americans from flying into E.U. bloc countries because of how poorly the United States has controlled the spread of coronavirus. That would put the U.S. in the same category as Brazil and Russia, on a list of nations whose citizens would be barred from traveling to Europe when its borders reopen on July 1. NY TIMES
FAUCI ON THE HILL: Dr. Fauci says he is “cautiously optimistic” that a COVID-19 vaccine will be ready by the end of the year or early 2021. Fauci testified to Congress about the country’s pandemic response, calling it a “mixed bag” so far and noting a “disturbing surge” in new infections. He also said he was never told to slow down virus testing. CNN
PRIMARY RESULTS: There’s no final calls in many of the biggest primaries given how many people voted absentee, but there are still several takeaways the morning after: N.Y.’s Rep. Eliot Engel is likely to be defeated by progressive newcomer Jamaal Bowman; AOC easily won her primary; and President Trump’s iron grip on the GOP is slipping. A 24-year-old newcomer won in the N.C. district vacated by Mark Meadows, who is now the White House chief of staff. Madison Cawthorn easily beat Meadows’ handpicked replacement, who was also endorsed by Trump. POLITICO
MACY'S FIREWORKS A GO: The famous Macy’s Fourth of July Spectacular will happen in NYC this year, though there will be some significant changes. Starting next week, there will be a series of short fireworks shows in each of the city’s five boroughs, followed by a grand finale on the 4th that will be televised - but the city is keeping the sites secret in order to keep people from congregating. ABC NY
SAVINGS SKYROCKET: Americans are saving more money than ever. U.S. banks have seen a record $2 trillion in deposits since the pandemic started and the personal-saving rate hit a record 33 percent in April, up from 7.5 percent at the end of 2019. The influx of cash from the PPP, enhanced unemployment benefits and stimulus checks are part of the reason, combined with people pausing big purchases. But with rates so low, any money you have sitting in a savings account isn’t going to be earning much in the way of interest for a long time. BI
R.I.P. SEGWAY: Segway, the company behind the two-wheeled self-balancing people mover popular with mall security guards, is shutting down its namesake product, 20 years after launching amid a frenzy of hype that it would be the next big thing in personal transport. Segway originally anticipated selling 100,000 a year, but it only ever sold about 140,000 in total. The last Segway will roll off the line on July 15. FAST COMPANY
PLAY BALL! Major League Baseball will hold a shortened season, with Opening Day set for July 23 or 24. The league and players agreed on safety protocols for the 60-game season, effectively ending the stalemate. Players report to camp on July 1. CBS SPORTS
BUBBA WALLACE UPDATE: The FBI has determined that the 'noose' that was found hanging in NASCAR driver Bubba Wallace’s garage stall had been there since October, and Wallace was not the victim of an intentional hate crime. YAHOO SPORTS
DJOKOVIC COVID POSITIVE: Novak Djokovic and his wife have tested positive for COVID-19 after hosting a series of exhibition matches in Europe without any social distancing guidelines. Previously, the No. 1 ranked tennis player in the world had not committed to play the U.S. Open, saying he didn’t want to deal with the safety protocols put in place. ESPN
'THRONES' BOOK PROGRESS: One good thing to come out of the pandemic, at least for Game of Thrones fans: George R.R. Martin has been writing. The author has updated Thrones fans on the progress of The Winds of Winter, his highly anticipated sixth installment in the series. Martin says he’s been holed up, writing away, and expects the book to be done next year. EW
SPOTTED...Timothée Chalamet and his new girlfriend, actress Eiza González, vacationing in Mexico: SEE PICS
LEFTOVERS: IT HAPPENED AGAIN: Another art conservation effort in Spain went horribly wrong, drawing comparisons to the infamous and widely mocked “Monkey Christ” painting. A private collector hired a furniture restorer to clean and restore a priceless painting of the Virgin Mary by the Spanish artist Bartolomé Esteban Murillo. It did not go well: SEE PIC
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A 2021 report from UK Research and Innovation found that the shipping industry makes up at least 2.5 percent of the world's total CO2 emissions. It's a problem that energy solutions company, Leclanché, is trying to solve. Founded in 1909, the company has been developing and producing batteries for more than 100 years. Today, Leclanché's lithium-ion battery is used to electrify not just ships, but also railroad locomotives, trucks, and specialty vehicles. Cheddar News spoke with Pierre Blanc, chief technology and industrial officer of Leclanché, to discuss.
Amazon is betting that ammonia could be the fuel of the future, participating in a Series A round for the Brooklyn-based company Amogy in December. Amogy aims to de-carbonize transportation with a clean energy system that uses ammonia as a renewable fuel. Amogy is partnering with Amazon on its first commercial product - an ammonia-powered cargo-shipping vessel. Amogy CEO Seonghoon Woo joins Cheddar Climate to discuss.
One of the world's largest transport companies is kicking off Black History Month with a new initiative aimed at the next generation of business leaders. Today, FedEx announced the launch of its Student Ambassador Program. Participants selected from eight historically black colleges and universities will receive career guidance from FedEx executives. The program is part of FedEx's ongoing commitment to HBCUs and will also help the company expand its pipeline for diverse talent. Cheddar News welcomes senior vice president at FedEx, Jenny Robertson, and Jerryl Briggs, President of Mississippi Valley State University, to discuss.
"Sing 2" has overthrown "Spider-Man: No Way Home" as the number one film at the UK box office. The animated sequel brought in $8.1 million, in just its two first weekends. However, "No Way Home" is still on track to beat "Avatar" as the number one grossing movie of all time.
Big Brothers Big Sisters of America has been a driving force for youth mentorship since 1904. The nonprofit organization is launching its annual Big Draft campaign this month in partnership with the NFL, and Artis Stevens, the first Black CEO of Big Brothers Big Sisters of America, joined Cheddar to discuss the push for adding more "Bigs" as mentors on his one-year anniversary leading the non-profit organization. "While the NFL is recruiting and drafting more players, they're also helping us to draft more mentors and, particularly, men all the way from across February to all the way to April of this year," Stevens explained.
The Supreme Court will reconsider race-based affirmative action in college admissions. The court will examine admissions policies at Harvard University and The University of North Carolina Chapel Hill, which count the race of applicants as a factor in admissions. The court has upheld affirmative action policies in the past, saying it helps to create more diverse student bodies. However, the conservative Supreme Court could be skeptical and even possibly hostile to such policies. Nick Anderson, Higher Education Writer, Washington Post joined Cheddar's Opening Bell to discuss.
The value of most cryptocurrencies have plummeted in recent months since reaching all-time highs in November, wiping out more than $1 trillion in value globally. The steep crash has some talking about the possibility of a crypto winter, a term referring to a prolonged bearish period where asset prices persistently fall over many months. This all comes as the Fed is expected to raise interest rates, and the Biden administration is working on an executive order to regulate Bitcoin and other assets. Josh Goodbody, COO of Qredo, joined Cheddar's Opening Bell to discuss the crypto crash, and how the industry might recover from it.
Recent data reveals that streaming giants are struggling to retain subscribers in the months following a major release.
According to data from Antenna, subscriber trends show that users will subscribe to a given streaming service just to watch a particular show, and then cancel those subscriptions shortly after. This comes as the streaming space continues to heat up as new entrants crowd the space. Jon Christian, Founding Partner + Digital Supply Chain Leader at OnPrem joined Cheddar's Opening Bell to discuss.
The EU relaxed its Covid travel restrictions for vaccinated individuals among the union's 27 member states, doing away with testing or quarantine requirements for travelers. This comes soon after the World Health Organization said the omicron variant could help make the pandemic more manageable. The new rules take effect February 1st. Bryce Conway, Founder, 10xTravel joined Cheddar's Opening Bell to discuss.
