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TOGETHER WITH
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Good morning. So apparently we have to watch Schitt's Creek, which crushed it at the Emmys last night. All we know about it is Canada.
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NASDAQ
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10,793.28
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+ 20.29%
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S&P
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3,319.47
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+ 2.75%
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DJIA
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27,657.42
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- 3.09%
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GOLD
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1,957.10
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+ 28.76%
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10-YR
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0.701%
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- 121.90 bps
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OIL
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40.97
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- 33.07%
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*As of market close
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Markets: U.S. stocks have fallen
for three straight weeks, but one segment of the market is red hot. The
S&P’s materials sector (home to companies like Sherwin-Williams) is
the index’s best performer this quarter, up 16%.
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Pixabay
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Liberal Supreme Court Justice Ruth Bader Ginsburg died on Friday night at 87. As a feminist icon and revered jurist, RBG's death was devastating for many, but it also raised some cold hard political questions about the court’s future makeup.
Big picture: Ginsburg’s death leaves the court with five conservative-leaning justices and three liberal ones. President Trump said Saturday that he’ll nominate a replacement this week. Senate Majority Leader Mitch McConnell has promised a confirmation vote.
- Democrats responded with
a resounding “Oh, that’s rich,” pointing to McConnell’s refusal in 2016
to hold a hearing for then-President Barack Obama’s nominee, Merrick
Garland, because it was an election year.
Trump has
pledged to nominate a woman—possibly Amy Coney Barrett, Barbara Lagoa,
or Allison Jones Rushing, according to reports. You can read up on them here.
One upcoming case looms especially large: The ACA
Aka
Obamacare. On Nov. 10, one week after the election, the Supreme Court
will hear oral arguments in a lawsuit against the healthcare law—a group
of Republican-led states is trying to get the ACA thrown out.
- Their argument? A
provision in the 2017 tax cuts repealed the ACA’s individual mandate
penalty (the fine for not having health insurance), so they argue the
whole enchilada should be thrown out on grounds of unconstitutionality.
- Even if Trump announces
an appointee ASAP, it’s unlikely she’ll be confirmed and robed up by the
10th. So with an eight-justice court, a 4-4 tie is possible, in which
case it’ll be sent back to lower courts.
Zoom out: The
Biden campaign is adding the ACA fight to its healthcare-forward
message, focusing on Trump’s handling of the pandemic and Biden’s role
in getting the ACA passed in the first place. Democratic operatives say
healthcare was a winning issue in the 2018 midterms and has only become
more potent now that every stray cough is cause for concern.
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Francis Scialabba
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On Saturday, President Trump gave his “blessing” to the marriage of TikTok and major U.S. corporations Oracle and Walmart.
The details: Oracle
and Walmart will reportedly take a combined 20% stake in the new
company, TikTok Global. ByteDance, TikTok’s Chinese owner and the main
character in this drama, is expected to keep 80%...but American
interests control 40% of ByteDance, so the new company will have majority U.S. ownership, per the Trump administration.
- But Trump's original demand for ByteDance to sell TikTok's U.S. operations over national security concerns isn't happening, which leaves some critics asking..."what was the point of all this again?"
Oracle and Walmart are happy: Oracle
will get a big boost to its cloud business, which has lagged rivals
like Amazon. Walmart will flex its e-commerce muscles to TikTok’s 100
million monthly active U.S. users.
Looking ahead…the
Commerce Department delayed its order to ban TikTok from U.S. app
stores. The other Chinese app under fire, WeChat, was also saved from an app store ban by a judge yesterday.
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Top global
banks shuffled huge sums of allegedly illicit funds around the globe
even after noticing irregularities, according to an investigation
dropped yesterday by *deep breath* the International Consortium of
Investigative Journalists (ICIJ), BuzzFeed News, and more than 100 media
partners in 88 countries.
That’s a lot
of journalistic horsepower, but this was a big operation. In a treasure
trove of leaked government documents, the investigators found at least
$2 trillion worth of transactions were flagged as “suspicious” by banks’
internal compliance departments from 1999–2017.
Which banks? JPMorgan,
HSBC, Standard Chartered Bank, Deutsche Bank, and Bank of New York
Mellon were named in the report for shuffling dirty money around even
after promising the government they’d keep a more careful eye on money
laundering.
Why you should care: “Because
the free flow of illicit money causes incalculable harm,” writes the
ICIJ, fueling drug cartels, enabling tax evasion, and helping oligarchs
consolidate power.
This story requires much more real estate than one newsletter. Read the report.
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And it’s about time.
People have used boring forms forever—whether it’s a survey to better understand customers, or a quiz to qualify leads.
But Typeform is here to tell you it doesn’t have to be that way.
With splashy backgrounds, engaging videos, and high-def photos, Typeform’s UI brings forms to life in a way that can actually make completing a form the highlight of your time on the internet.
And when people have a good time flowing through your form built with Typeform, they’re more likely to complete said form.
In fact, Typeforms get 18% more responses than other solutions.
Join the fight against traditional forms.
Try Typeform today.
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Ethan Miller/Getty Images
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Tonight, another enormous, slightly-out-of-place-looking structure is set to open in Las Vegas.
That would
be Allegiant Stadium, the new $2 billion home of the Las Vegas Raiders.
The Raiders will break in the stadium (nicknamed the “Death Star”)
against the New Orleans Saints on Monday Night Football.
Big picture: Hosting an NFL team is a landmark moment for Las Vegas, which had a reputation
for being too tourism-centered and small to support a football
franchise. But continued population growth and an up-and-coming tech
industry mean it could be ready. The NHL and WNBA both added Vegas
outposts in the last few years.
- It’s also a historic moment for the NFL, which had shunned any connection to sports betting.
Bottom line: The Raiders’ debut comes at a time when Las Vegas’s position atop the (legal) sports betting world is being challenged. In several months last year, the total amount wagered in New Jersey topped the totals in Vegas.
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This week will mark one of the largest migrations on earth: from iced coffee to hot coffee.
Monday: The “The Ellen DeGeneres Show” returns—she’ll confront allegations of a toxic workplace
Tuesday: First day of fall; National Voter Registration Day (register here); Nike earnings; Tesla will hold its “Battery Day” event
Wednesday: Fed Chair Jerome Powell makes one of three appearances before Congressional committees
Thursday: Jobless claims; Costco earnings
Friday: Chillen
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Bill Gates: The pandemic "won't last indefinitely" but it’s “outrageous” that Americans can’t get a test result back in 24 hours.
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The UK, facing a “tipping point” in coronavirus cases, introduced a fine of up to $13,000 for people who fail to self-isolate.
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AstraZeneca became the latest pharma company to release its coronavirus vaccine trial blueprints. Its trial is currently paused in the U.S.
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What else happened at the virtual Emmys.
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Global trade has bounced back much more quickly this year than following the Great Recession, the WSJ reports.
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Cracker Barrel is adding alcohol to its menu for the first time ever.
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More Brew recs: If you like the recommendations we provide in the Brew’s Bets section, you should know we have an entire newsletter dedicated to tips on helping you live your best life, from recipes and workouts to TV recs and DIY inspo. Check it out now.
Bits of wisdom: Author Ryan Holiday shares 33 pieces of advice he stole from smarter people.
Documentary picks: We finally got around to watching Boys State on Apple TV+ and definitely recommend it. Also heard great things about My Octopus Teacher on Netflix and anxiously awaiting this week's release of Agents of Chaos on HBO.
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On
Mondays, we present a relevant business topic, give you a few balanced
resources, and encourage you to discuss with friends, family, and
coworkers.
This week’s topic:
In honor of the late Justice Ruth Bader Ginsburg, we’re talking about
gender equality. Specifically, how women continue to shoulder a greater
proportion of invisible labor. On an average day in 2019, 70% of U.S.
women did food prep and cleanup, compared to 48% of men; 46% of women
did household chores vs. 22% of men.
- Understanding invisible labor. (Good Housekeeping)
- It’s not just at home: Women are more likely to take care of “office housework,” too. (Quartz)
- How the Covid-19 childcare crisis will distort the economy for a generation. (Politico)
- What about same-sex couples? (Jezebel)
- Some couples are using project management apps like Trello and Asana to more fairly divvy up household work. (WSJ, The Atlantic)
Audience participation:
This week, we challenge you and your partner to log all the time you
spend on household chores—shopping, cleaning, budgeting, childcare,
etc.—then compare at the end of the week.
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Take a crack at this week's Brew Crossword, brought to you by reader Mary Cole. You'll get a kick out of the tech theme.
Play the crossword.
+ Want to write a crossword for the Brew? Here's how.
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| Wildfire Victims Furious With Gov Newsom, Kamala Harris: ‘Decent Human Beings…wouldn’t Air Someone Else’s Misfortune’ | | Read More | | |
| Gregg Jarrett weighs in on potential Trump nominees for Supreme Court vacancy | | Read More | | |
| Carolina Panthers Spanish-Speaking Announcer Forced To Quit Over Support For Trump |
| Read More |
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| Carolina Panthers Spanish-Speaking Announcer Forced To Quit Over Support For Trump Read More |
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