Members of Congress and the Congressional Black Caucus form a circle around the flag-draped casket of the late Rep. John Lewis, D-Ga., as he lies in state at the Capitol in Washington, Monday, July 27, 2020. (Jonathan Ernst/Pool via AP)
Here are the headlines you Need2Know for Tuesday, July 28, 2020:
COVID-19: LATEST DEVELOPMENTS: Lawmakers will continue to negotiate over the scope of the next economic relief package today. Republicans opened with a $1 trillion plan that would cut the enhanced unemployment benefit from $600 to $200 a week. The Democrats want to keep that benefit intact through the end of the year as part of their $3 trillion package. At the White House, Trump's national security adviser Robert O’Brien, tested positive, becoming the highest-ranking official and member of the president’s inner circle to contract the virus. Meanwhile, new cases are starting to level off in Texas, Arizona and Florida. REUTERS
BACK TO SCHOOL: What can the U.S. learn from countries that have successfully reopened their schools? A number of studies in countries like Germany and Denmark suggest that the safest way to bring students and teachers back to school depends on a number of variables -- including the age of students. Teens appear to transmit the virus much easier than younger kids, with one South Korean study showing that children under 10 had the lowest transmission rate of any age group, whereas 10-19 year-olds had transmission rates similar to adults. WIRED
LEWIS LIES IN STATE: The late Rep. John Lewis became the first Black lawmaker to lie in state in the Capitol, one of the highest honors that can be given to an American. Lewis’ coffin was brought to the rotunda for a private ceremony for members of Congress. Members of the public have been able to pay their respects outside the building. President Trump said he will not visit the casket. AP
U.S.-CHINA RELATIONS: China has officially taken back control of the American consulate in Chengdu, a symbolic indication of how far and fast the diplomatic relations between the world’s two largest economies have deteriorated. Chinese soldiers took down the U.S. flag outside the mission as crowds of people waving Chinese flags looked on. GUARDIAN
GOLD RECORD RUN: The price of gold is now at a record high, approaching $2,000 an ounce. Gold is typically thought of as a “safe haven” investment where you park your money when you’re worried about the global economy, and the run up in its price suggests investors are increasingly nervous about the recovery -- not just the virus, but the growing tension between the U.S. and China, as well. BLOOMBERG
GOOGLE WORK FROM HOME: Google has decided to keep all of its employees remote until at least next summer, becoming the first major American company to extend the timeline for work-from-home out an entire year. The decision will affect nearly all of Google parent Alphabet’s 200,000 employees, from Silicon Valley to India. WSJ
MLB COVID OUTBREAK: The MLB season isn’t even a week old and it’s already in jeopardy after a coronavirus outbreak swept through the Miami Marlins clubhouse. Three games have been postponed as the league tries to stem the outbreak, which has infected at least 14 members of the Marlins organization. ESPN
MOVIE RELEASE DATES: The summer movie season is a wash. The fall season, when most of the big Oscar contenders are released, is in peril. So what’s left? Here’s a list of every movie that was supposed to come out this year, and when it’s now scheduled for release. Just go ahead and assume you won’t be going to the theater until next year: READ IT
WELCOME TO THE WORLD...baby Willa! That’s reportedly the name of Joe Jonas and Sophie Turner’s baby girl. The Game of Thrones actress gave birth to the couple’s first child last week. TMZ
LEFTOVERS: SORRY FOR ROCKING: New York Gov. Andrew Cuomo has launched an investigation into a Chainsmokers concert that took place in the Hamptons last weekend after videos on social media showed people crowding together to watch the show, which was supposed to be a drive-in. The charity concert -- tickets were going for as much as $25,000 a pop -- also featured a set by DJ D-Sol, the alter ego of Goldman Sachs CEO David Solomon. PITCHFORK
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!
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.
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.
