Here are the headlines you Need2Know for Tuesday, August 4, 2020:

ISAIAS MAKES LANDFALL: Isaias has been downgraded to a tropical storm after making landfall along the North Carolina coast as a Cat 1 hurricane, with wind guests as high as 93 mph. The storm is moving fast and will sweep up through the Eastern Seaboard today. Tropical Storm Warnings are in place from Cape Hatteras to Boston; D.C., Philly and NYC are likely to see wind speeds of 60-70 mph. Isaias may be the strongest storm to hit the New York metro area since Sandy in 2012. TRACK

COVID-19: LATEST DEVELOPMENTS: President Trump is criticizing another member of the White House coronavirus task force: Dr. Deborah Birx, after she issued a stark assessment of how the virus is spreading in the U.S. Now Dr. Fauci is defending Dr. Birx, agreeing that the U.S. is seeing uncontrolled community spread in many areas by asymptomatic people carrying the virus. Schools have begun reopening in some states, with chaotic results: there have been quarantines, postponements and closures as students and teachers bring the virus back to school with them. NY TIMES

JUDGE'S PLEA: The federal judge whose son was shot to death at their home by a “men’s rights” lawyer two weeks ago has broken her silence. Judge Esther Salas released an emotional nine-minute video in which she calls for more personal security for judges and asks that her son’s death not be in vain: WATCH

TRUMP TAX INVESTIGATION: The Manhattan DA’s office has suggested for the first time that it’s investigating President Trump and his business for potential bank and insurance fraud. In a court filing, the DA asked the president’s accounting firm to voluntarily comply with a subpoena seeking his tax returns after the Supreme Court ruled that sitting presidents aren’t immune from investigation. NY TIMES

RETAIL APOCALYPSE: The retail bankruptcies keep on coming. Lord & Taylor, the oldest department store in the country, has filed for bankruptcy protection, joining Neiman Marcus. The parent company of Men’s Wearhouse and Jos. A Bank has also filed, joining Brooks Bros. The pace of retail bankruptcies through the first half of this year far exceeded the entirety of 2019. AP

ANTIDEPRESSANT BREAKTHROUGH: The FDA has approved an antidepressant nasal spray for use in actively suicidal patients, the first time a drug has been given the greenlight for people who are planning to kill themselves, and a potential milestone for mental health treatment. The quick-acting spray, called Spravato, is a close cousin of the party drug ketamine, and has been used for treatment-resistant depression for the last year but never for people in the midst of an active suicidal crisis. BLOOMBERG

MIRACLE ON ICE: The MLB and NBA have been getting all the headlines, but another pro sports league has been showing success in its restarted season. The National Hockey League resumed play over the weekend, and says no players or staff members have tested positive for Covid-19 since they arrived in two Canadian hub cities. The NHL is conducting a 24-team postseason round robin, with the Western Conference playing in Edmonton and the East playing in Toronto. CNN

THE ROCK BUYS XFL: An investor group that includes Dwayne “The Rock” Johnson has purchased the XFL for just $15 million. The alternative football league was attempting a comeback in the spring but immediately went bust when the virus hit the U.S. There was supposed to be an auction for the remains this week, but only the one bid materialized. Johnson and his partners are reportedly planning to resurrect the XFL once again next year. ESPN

SPOTTED...

...Five-time gold medal winner Katie Ledecky swimming the length of a pool with a glass of chocolate milk balanced on her head. The stunt is part of a new Got Milk? ad campaign: SEE IT

…(ICYMI) A tomato that got Twitter in a frenzy over its striking resemblance to NBA great Larry Bird: SEE IT

LEFTOVERS: THE AMERICANS ARE COMING

With the U.S.-Canada border closed for nonessential travel since March, Canadian police are cracking down on Americans who keep trying to cross the border using the “Alaska loophole” -- telling border agents they’re just on their way to Alaska. American tourists have been caught hiking and boating in Canadian territory, with some boaters even turning off their transponders to avoid detection. NPR

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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