Here are the headlines you Need2Know for Wednesday, December 9, 2020:

COVID-19: LATEST DEVELOPMENTS

VACCINE RACE: The FDA has released its first analysis of the Pfizer-BioNTech vaccine data as it prepares to consider an emergency authorization. The analysis found that the vaccine provides significant protection against COVID-19 after the first of two doses, and works well regardless of a person’s age, weight or race. One epidemiologist said the FDA basically gave Pfizer an “A+ report card.”  Separately, the AstraZeneca-Oxford vaccine appears to be 70 percent effective, according to the first peer-reviewed study of that drug, which is much cheaper and easier to make and transport than the others. And the UAE has approved a Chinese vaccine after preliminary data showed it was 86 percent effective. NY TIMES

THANKSGIVING WAVE: The approvals cannot come soon enough. The first signs of the suspected post-Thanksgiving wave are appearing, with the U.S. now averaging 200,000 daily cases over the last week. One silver lining: the states that got the fall surge earliest, like North Dakota and New Mexico, are showing decreased case numbers. But nearly 40 other states are still seeing rising caseloads. COVID TRACKING

STIMULUS LATEST

The White House has reengaged with Congress on a stimulus deal, offering a $916 billion compromise bill that would include some help for state and local governments to satisfy Democrats, a liability shield for businesses to satisfy Republicans, but no enhanced unemployment benefits for people who have been out of work. Instead, the offer on the table includes a direct payment of $600 to every American and enough money to extend regular federal unemployment benefits. WASH POST

FT. HOOD INVESTIGATION

The Army has suspended or fired 14 leaders at Ft. Hood, the giant military base in Texas, following a review that began in the wake of the brutal murder of Spc. Vanessa Guillen. The secretary of the Army said the investigation found a culture that was “permissive of sexual harassment and sexual assault.” Ft. Hood has seen more than 150 non-combat deaths in the last five years. TEXAS TRIB

IPO BONANZA

DoorDash goes public on the New York Stock Exchange today after pricing its IPO at $102 per share, higher than expected. The delivery company, which is not profitable, is valued at about $38 billion. Airbnb is set to follow with its IPO tomorrow on the Nasdaq. BLOOMBERG

WARNER BROS. ON DEFENSE

The CEO of AT&T is defending the decision by the company’s WarnerMedia unit to break the theatrical window for all of Warner Bros.’ movies next year. John Stankey told an investor conference that the studio had to change its business model in 2021 because what the industry has been doing during the pandemic is just not working. The comments came after Tenet director Christopher Nolan slammed Warner, calling HBO Max “the worst streaming service” amid reports that much of Hollywood felt blindsided and furious by the decision.​​​​ WSJ

APPLE’S NEW HEADPHONES

Apple has announced a pair of noise-cancelling headphones that will go on sale next Tuesday. The price tag: $549. The AirPods Max have many of the same features as the popular AirPods Pro, but they go over the ear and come in five colors. They’re also $200 more expensive than similar high-end headphones made by Bose or Sennheiser. SEE THEM

'THE GAME' CANCELLED

The annual Big 10 rivalry game between Michigan and Ohio State that was scheduled for this weekend has been cancelled. Michigan has too many positive COVID tests to field a team. This is the first season since 1917 that won’t feature a matchup between the Buckeyes and Wolverines. SI

SPOTTED...

...William Shakespeare, the second person to get the approved Pfizer vaccine in the UK. The 81-year-old Shakespeare, who goes by Bill, is even from the same county in England as his more famous name twin: SEE PIC

… Paul McCartney, in an old photo with his bandmate John Lennon, posted by McCartney on the 40th anniversary of Lennon’s murder: SEE PIC

OLIVIA JADE OPENS UP

Olivia Jade Giannulli, the daughter of Lori Loughlin and Mossimo Giannulli, broke her silence on the college admissions scandal, saying in an interview on Red Table Talk that she was “the poster child of white privilege” who still “deserves a second chance.” Both of Giannulli’s parents are currently in prison for their roles in the scandal, and Giannulli said she hasn’t spoken to either of them since they’ve been incarcerated. CBS NEWS

LEFTOVERS: GROWTH SPURT

After years of disputes over the official height of Mt. Everest, China and Nepal have finally agreed on exactly how high the world’s tallest peak is: 29,032 feet above sea level, or about three feet taller than previously thought. Everest straddles the border between China-controlled Tibet and Nepal and the two countries have been getting politically closer, united over their shared worsening relations with India. CHEDDAR

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