Here are the headlines you Need2Know for Thursday, July 23, 2020:

TRUMP EXPANDS FED RESPONSE: Under the auspices of combating a rise in violent crime, President Trump Wednesday ordered the deployment of federal law enforcement agents to Chicago and Albuquerque. This follows after the recent controversy surrounding the use of DHS personnel in Portland. The president went on to paint Democrat-led cities as being out of control and lashed out at the "radical left," despite criminal justice experts saying that the increase in violence in some cities defies an easy explanation. AP

PFIZER VACCINE DEAL: The pharma giant inked a $1.95 billion deal with the U.S. government to provide 100 million doses of a vaccine candidate by December, HHS Secretary Alex Azar announced Wednesday. Pfizer Inc. and BioNTech SE announced separately that the agreement is with HHS and the Defense Department for a vaccine candidate the companies are developing jointly. Azar did not say, however, that the vaccine must prove "safe and effective" and receive FDA approval first. AP

CHINA CONSULATE CLOSED: In an escalation of tensions between two superpowers, the U.S. has ordered the closure of the Chinese consulate in Houston in order "to protect American intellectual property" and the private information of Americans." Beijing decried the move, the latest in a series of conflict points on trade, technology, human rights, and security. On Tuesday night, Houston firefighters responded to reports of paper being burned on the consulate grounds but were prevented from entering the premises. AP

UNEMPLOYMENT DILEMMA: As the additional $600/week unemployment assistance program is about to expire, some members of the GOP have been discussing a possible short-term extension while the party hammers out its own coronavirus Phase 4 relief plan. The nation's unemployment rate is currently stuck at over 11 percent, but still there has been pushback from some party members. AXIOS

SPOTIFY-UNIVERSAL DEAL: Spotify and Universal Music Group have closed a multi-year deal, licensing the music label’s catalog to the streaming giant. The deal opens a new revenue stream for Spotify by offering paid placements on the app’s most renowned playlists, new tools for promoting releases, and sponsored recommendations. The deal comes with some backlash as indie recording labels fear Spotify’s new model will be driven by majors with the most money to spend, ultimately creating a fight for exposure. TECH CRUNCH

RIDE-HAILING BIAS: A new study from George Washington University found that ride-hailing apps like Uber and Lyft are charging customers who live or are dropped off in low-income neighborhoods more per mile. According to the study, the services evaluate demand by using machine learning methods that often “display demographic disparity in online recruitment, online advertisements, and recidivism prediction.” USA TODAY

FOURTH FORT HOOD SOLDIER DEAD: Just weeks after the remains of 20-year-old soldier Vanessa Guillen were found near Fort Hood, the name of another soldier found dead last week has been released. 26-year-old Private Mejor Morta was found unresponsive near Stillhouse Lake in Texas. Details surrounding Morta’s death have not been released. However, he is the fourth Fort Hood soldier to die under extraordinary circumstances this year. THE HILL

TOKYO OLYMPICS IN JEOPARDY: The International Olympic Committee says the delayed 2021 Tokyo Olympics could be axed all together if the coronavirus pandemic persists at its current rate. The future of the games lies in the development of a vaccine and figuring out a way to compete if all athletes do not agree to take the drug. The IOC says the Games will not be postponed for a second time but will instead be canceled if the virus is not under control in a year. AP

KIM K. BREAKS SILENCE ON KANYE: Kim Kardashian West has broken her silence on her husband's recent public comments related to their marriage and family. On her Instagram account, with 180 million followers, she blamed bi-polar disorder for Kanye’s outbursts at a campaign rally and rants on Twitter, and asked for understanding as her family works through this difficult time. While Kanye remains on the presidential ballot in Oklahoma, he has since alluded to suspending his run for the White House. READ IT

LEFTOVERS: FINDING PUPS FOREVER HOMES: The New York Racing Association is working to give sheltered dogs forever homes by hosting a virtual dog adoption series. As coronavirus makes in-person meetings more difficult, NYRA is sweetening the deal by covering up to $50 of adoption costs. Dogs up for adoption are currently being held at the Saratoga County Animal Shelter in Saratoga Springs, NY. DETAILS

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
AT&T Investors Digest WarnerMedia Spinoff Merger With Discovery for $43 Billion
AT&T announced earlier today it is spinning off its media properties in WarnerMedia in a merger with Discovery in a $43 billion deal.Scott Rostan, founder and CEO at Training The Street, joined Cheddar to talk about what the unwinding of the telecom giant's Time Warner media properties means for investors. "I think the investor sentiment is they're digesting the new information, and they're looking into the dividend, especially the reduction of the dividend," said Rostan, noting the transaction allows AT&T to focus on its core telecommunications business.
Energy Storage Solutions Company Leclanché Powers EV Fleets to Reduce Emissisions
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 Funds Amogy to Commercialize Ammonia-Powered Cargo-Shipping Vessels, Decarbonize Transportation
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.
FedEx Announces Student Ambassador Program With Historically Black Colleges & Universities
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' Takes Top Spot From 'Spider-Man' at UK Box Office
"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.
First Black CEO of Big Brothers Big Sisters of America on Empowering Youth With NFL
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.
Supreme Court To Hear Challenge To Affirmative Action
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.
Crypto Prices Plummet, Wiping Out $1 Trillion In Global Value
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.
Streaming Giants Struggle to Retain Subscribers Following Big Releases
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.
Load More