Here are the headlines you Need2Know for Thursday, July 30, 2020:

TECH CEOS GRILLED: The CEOs of Google, Facebook, Apple and Amazon faced hours of aggressive questioning from both Republicans and Democrats as they defended the size, success and reach of their companies. The back-and-forths were often sharp and revealing, but sometimes awkward. House Democrats mostly criticized the CEOs for what they called anti-competitive business practices, while House Republicans focused more on what they said were efforts to stifle conservatives. Google’s Sundar Pichai took the most heat on questions of whether Google uses data to muzzle competitors. TAKEAWAYS

COVID-19: LATEST DEVELOPMENTS: The U.S. has surpassed 150,000 coronavirus deaths, with one American a minute dying of the virus on Wednesday. Even as the rate of new infections in some of the hardest-hit states is slowing, deaths are rising at their fastest rate in two months. President Trump has intervened in the negotiations over a new financial rescue package, all but assuring that the enhanced unemployment benefits run out at the end of the week. Rep. Louie Gohmert of Texas, who has been working at the Capitol without a mask, tested positive just as he was about to fly on Air Force One with the president. He reportedly called his staff into his office to tell them in person he had the virus. POLITICO

TROPIC WATCH: Tropical Storm Isaias has formed in the Atlantic, becoming the ninth named storm of the season. Tropical Storm warnings are in effect in Puerto Rico and the Virgin Islands; the system is expected to strengthen as it approaches Florida. The state is closing all its government-run coronavirus testing locations as of 5 p.m today and will keep them closed until next Wednesday at the earliest. TRACK

FEDS TO LEAVE PORTLAND: The White House has reached an agreement with the governor of Oregon to withdraw most of the DHS officers stationed around the federal courthouse in Portland. At the same time, the Justice Dept. is deploying agents to Detroit, Cleveland and Milwaukee. Separately, in New York, the NYPD is facing questions after a viral video showed plainclothes officers pulling a protester into an unmarked minivan. The police say that the protester was wanted for vandalizing police cameras. OREGONIAN

U.S. TROOPS LEAVING GERMANY: The Pentagon is withdrawing a third of the 36,000 U.S. troops stationed in Germany. Defense Sec. Mark Esper says about half of the 12,000 troops will be redeployed elsewhere in Europe, while the rest will return to the states. President Trump said he wanted to take American troops out of Germany in retaliation for Germany not spending more on its own defense. NPR

KODAK'S MOMENT: Kodak shares are up more than 1,000 percent this week. The left-for-dead photography company has been on fire since it won a $765 million loan from the government to help it transform into a pharmaceutical company, to fight the coronavirus and help reduce the U.S. dependence on foreign drugmakers. Kodak stock was up more than 500 percent just on Wednesday, causing circuit breakers on the NYSE to trip 20 times. YAHOO FINANCE

MISSION TO MARS: NASA has launched an unmanned spacecraft to Mars from Cape Canaveral. The Perseverance rover is expected to reach the Red Planet next February, where it will collect samples and attempt to launch an experimental helicopter into the thin Martian atmosphere. SPACE.COM

NBA VS. MLB: The NBA season kicks off tonight, with the Pelicans playing the Jazz at 6:30 pm ET followed by Clippers vs. Lakers (TNT is carrying both games). So far, the bubble is holding. On the eve of tip-off, the league reported that no players have tested positive since July 20. Meanwhile, in the MLB, the sidelined Miami Marlins are up to 18 confirmed cases as reports suggest team members may have gotten infected when they went out on the town in Atlanta during exhibition play. BLEACHER REPORT

SPOTTED...

...Prince Philip making a rare appearance and looking, in the words of the Daily Mirror’s royal editor, “several decades younger” than his 99 years: SEE PICS

...Kendall Jenner, showing off her redesigned L.A. home to Architectural Digest: WATCH THE TOUR

LEFTOVERS: CABIN CLEANING: JetBlue is the first U.S. airline to start using a new kind of robot that disinfects surfaces using UV light. The robot looks like a beverage cart on steroids, and moves through the cabin while a robotic arm shines UV-C light on seats, trays and other places where coronavirus particles might stick around. The pilot program is taking place at JFK and Ft. Lauderdale airports. SEE IT

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