Monday, July 12, 2021

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Barron's

Good morning. Congrats to Italy on their victory at the Euros yesterday. England, we feel for ya. And while we would say redemption is possible at next year's World Cup, here at the Brew we believe that Team USA will win. 

T-minus 497 days...

MARKETS: YEAR-TO-DATE


Nasdaq

14,701.92

S&P

4,369.55

Dow

34,870.16

Bitcoin

$34,138.77

10-Year

1.363%

Oil

$74.63

*Stock data as of market close, cryptocurrency data as of 10:00pm ET. Here's what these numbers mean.

  • Markets: Stocks start the week at record highs—whether they continue their epic run depends on the strength of companies' Q2 earnings reports, coming to you live beginning tomorrow.
  • Covid: Treasury Secretary Janet Yellen warned that the spread of the Delta variant could thwart a global economic recovery, since “what happens in any part of the world affects all other countries.” She and other economic leaders spent the weekend discussing how to vaccinate 70% of the world by next year. 

GOVERNANCE

Who Really Controls Tesla?

Elon Musk SNL

Giphy

One billionaire flew to space this weekend. Others were trying to resolve more mundane problems here at sea level.

Like shareholder lawsuits. Elon Musk will testify today in a high-stakes trial where he’s accused of using one of his companies (Tesla) to bail out another of his companies (SolarCity), enriching himself and leaving shareholders holding the bag.

The backstory: In 2016, electric vehicle maker Tesla bought solar energy startup SolarCity for $2.6 billion, aiming to build a single, integrated sustainable energy company. Musk didn’t need much due diligence before buying SolarCity—after all, his cousins founded it in 2006 and Musk served as the chairman. 

But SolarCity was in bad financial shape, losing money and holding more than $3 billion in debt. And investors weren’t particularly enthusiastic about the deal. After the acquisition was announced, Tesla shares fell more than 10%, wiping out more value ($3 billion) than the entire purchase price for SolarCity. 

The details

The lawsuit alleges that Tesla’s acquisition of SolarCity reeked with conflicts of interest and that Musk failed to disclose liquidity problems at SolarCity.

Musk’s counterargument is this: Look, the board approved it. Musk only owned about 22% each of Tesla and SolarCity at the time of the deal, meaning he wasn’t a corporate autocrat who could combine his two companies without oversight.

Also, if you haven’t checked lately, Tesla stock is currently 15x its price when the company purchased SolarCity...so how was this bad for Tesla shareholders exactly? 

The “why it matters” part

If Musk loses, he could be asked to cough up the full amount of the transaction—$2.6 billion. That’d be one of the largest judgments ever against an individual.

But beyond that, the trial raises bigger questions about how much control tech moguls have over decision-making at their companies. As Reuters asks, “Does Elon Musk control Tesla Inc., or does Tesla control Elon Musk?”

        

SPACE

Now Back to Billionaires In Space

Branson and crew celebrating the completion of a space flight

PATRICK T. FALLON/AFP via Getty Images

As Elon Musk looked on, Richard Branson and five other crew members successfully completed a flight to space, a milestone for Virgin Galactic and the young space tourism industry.

Branson and crew flew 53.5 miles in the air, unbuckled and floated around for a bit, and descended back to Earth before enjoying the more traditional Sunday morning activity of drowning yourself in champagne.

Big picture: Yesterday’s was the first mission that mimics the commercial flights Virgin Galactic hopes to launch soon. About 600 well-heeled customers who’ve paid at least $200,000 each are eagerly awaiting their opportunity to follow in Branson's footsteps.

One more thing: Our colleagues at Gossip Brew wouldn’t let us publish this story without acknowledging that billionaire Jeff Bezos will fly to space in a Blue Origin rocket in just over a week. “Can’t wait to join the club!” Bezos wrote in a congratulatory Instagram post after Branson’s flight. 

        

Overhauling the international tax system takes longer than loading a webpage in 1995, but countries are making progress. Leaders from 20 of the world’s largest economies endorsed a plan over the weekend, continuing the momentum after 132 countries approved it earlier this month. 

The plan: It would introduce a 15% minimum tax rate globally, eliminating the strategy some countries have used of dropping their corporate tax rate to attract business HQs.

Why it matters: A 15% floor would make it easier for the Biden administration to raise taxes on corporations in the US, since it’ll be harder for companies to find more attractive rates elsewhere. Biden wants to collect up to $2 trillion in revenue from corporate tax increases over the next decade. 

Now comes the hard part

Advocates will need to sway holdout countries, including Ireland and Hungary, which successfully leveraged low tax rates to propel their economies forward. If they can be brought on board, the biggest challenge of all looms: convincing Congress this plan would be beneficial for the US economy. 

Looking ahead...the plan won’t be ready to present to American lawmakers until next year, Secretary Yellen said.

        

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Face the Future with People Who’ve Been There

Barron's

OK, they haven’t literally traversed through the time-space continuum—but when it comes to financial news and analysis, Barron’s is about as close as you’ll find to time travelers.

Barron’s has been around for 100 years, so they’ve witnessed most of the major stories that have shaped the modern financial world. 

The original Ponzi scheme. The dot com bubble. Bernie Maddoff. Barron’s was first on the scene for each of these momentous financial moments. And all that experience means they’re better equipped than anyone to be your guide to finance’s future.

Barron’s doesn’t just cover the news; they actually anticipate it. From stock picks that beat the market to cutting-edge trends, you won’t miss any top-dollar news with these guys.

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GRAB BAG

Key Performance Indicators

Black Widow scene

Disney/Marvel

Stat: Marvel’s Black Widow scored $80 million at the box office this weekend, the best opening for a movie since the pandemic began. But even more interestingly, the film also generated more than $60 million in revenue through sales on Disney+ Premier Access, the first time the company has shared financial details about streaming releases. 

Quote: “I knew the drought was bad. I didn’t realize it was this bad. This place is unrecognizable.”

Fisherman Eric Richins described the water crisis at Lake Mead to the LA Times. Next month, the government will likely declare the first-ever water shortage for the lake, a reservoir that supplies water to farmers in California, Nevada, California, and Mexico. 

Read: Tripping in LSD’s birthplace. (Scientific American)

        

CALENDAR

The Week Ahead

Earnings season is here: Companies will begin reporting their results for Q2, and prepare yourself for some big numbers. Economists expect earnings to have increased 65% over Q2 2020, when much of the world was in lockdown mode.

  • Per tradition, the festivities kick off with big banks JPMorgan, Goldman Sachs, Bank of America, Citigroup, Wells Fargo, and Morgan Stanley.

Economic data: The number to watch is Tuesday’s Consumer Price Index, which measures inflation. Investors have recently shrugged off concerns that supercharged prices will linger...let’s find out if they’re right. 

Everything else: 

  • Angela Merkel is visiting the White House for what will likely be the final time as German chancellor. 
  • Bastille Day is on Wednesday.
  • Watch Shohei Ohtani hit bombs in the Home Run Derby tonight.
  • Friday releases: Space Jam 2, Anthony Bordain’s documentary, John Mayer’s album
        

WHAT ELSE IS BREWING

  • China pledged to retaliate against the US for the blacklisting of Chinese companies allegedly tied to human rights abuses.
  • Twitter named a “resident grievance officer” in India as tensions grow with the Indian government.
  • Novak Djokovic won Wimbledon for his 20th Grand Slam title, tying Roger Federer and Rafael Nadal for the men’s record.
  • An unopened copy of Super Mario 64 sold at auction for $1.56 million, a record price for the sale of a single video game.

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GAMES

The Puzzle Section

New game alert: The Games department at the Brew is innovating faster than Willy Wonka. Try this new game called Kriss Kross (especially if you're a TV nerd). 

Pick the odd one out

  1. BNSF, UPS, Dairy Queen, GEICO, Duracell 
  2. Chicago O’Hare, Newark Liberty Airport, Charlotte Douglas Intl., Washington Dulles, Denver Intl.
  3. Powell’s, The Strand, City Lights, Shakespeare and Company, the Stone Pony
  4. Yukon, Olympia, Acadia, Sierra, Canyon

SHARE THE BREW

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ANSWER

1. UPS. The rest are owned by Berkshire Hathaway

2. Charlotte. The rest are United Airlines hubs

3. The Stone Pony. The rest are bookstores

4. Olympia. The rest are GMC car brands

 

July 12, 2021

FBI Wants Family Members To Snitch On Each Other To Prevent 'Homegrown Extremism'
"As the Nazis worked to consolidate their power and build a cohesive “national community,” suppression of dissent played a key role. In 1933, the Nazis issued a decree that required Germans to... Read More ›
3 Fatal Crisis Mistakes & How To Avoid Them
It's hard to believe that even some innocent mistakes, like eating a certain type of meat, or hiding your stockpile in the basement, could ever cost you your life. This is not something taken out of some books…... Read More ›
Cost to run San Francisco homeless camp is jaw-dropping: Nearly $60,000 per tent
For a long time now, the modus operandi of the progressive left has been, "If it's a problem, just throw money at it until it goes away." ... Read More ›
WATCH: Trump Rips Biden, Big Tech and Critical Race Theory at CPAC
By New York Post. Former President Donald Trump delivered a blistering rebuke of President Biden, Big Tech, critical race theory, the media and other targets during a fiery keynote speech at the... Read More ›
Fearing the Worst, Police Raid After ‘Hero’ Maid Discovers Weapon Near All-Star Game
Four people were arrested in Denver on Friday night after a hotel maid was alarmed at finding weapons in a room. ... Read More ›
Biden ICE Now Allowing Pregnant Women and Women Nursing Babies to Stay in US
On Friday a new policy was announced that ICE will no longer detain most pregnant, nursing, and postpartum women for deportation. The list of those exempt from deportation proceedings is growing. ... Read More ›
1 Serving After Dinner Flattens Your Tummy
Taking a few seconds to make this tiny change to your after-dinner routine teaches your body to start releasing belly fat once you fall asleep. Take 1 Sip After Dinner To Help Flatten Your Tummy Overnight... Read More ›



July 12
Hans Holbein the Younger: Erasmus
FEATURED BIOGRAPHY

Desiderius Erasmus

READ MORE
 
Geraldine Ferraro
FEATURED EVENT
1984
Geraldine Ferraro designated running mate of Walter Mondale

READ MORE

SEE ALL BIOS ON THIS DAY

ALSO BORN ON THIS DAY
1937
Bill Cosby
American entertainer and producer
-100
Julius Caesar
Roman ruler
1997
Malala Yousafzai
Pakistani activist
1817
Henry David Thoreau
American writer
1904
Pablo Neruda
Chilean poet
1895
R. Buckminster Fuller
American engineer, architect, and futurist

MORE EVENTS ON THIS DAY
Albert II, prince of Monaco
2005: Prince Albert II, the only son of Prince Rainier III and Grace Kelly, formally assumed the throne of Monaco. [Take our quiz about kings and emperors.]
Disco Demolition Night
1979: Between games of a baseball doubleheader involving the Chicago White Sox and the Detroit Tigers at Comiskey Park, disco records were blown up as part of a promotion dubbed Disco Demolition Night; fans subsequently rushed the field, and, as a result of the ensuing mayhem, the second game was forfeited to the Tigers. [Sort fact from fiction in our quiz about Chicago history.]
Richard Dawson
1976: The television game show Family Feud began airing on ABC, and it became hugely popular, in part because of the personal charm and witty banter of host Richard Dawson; the show continued—with different hosts, including Steve Harvey—into the 21st century. [ Sort fact from fiction in our pop culture quiz.]
Sao Tome and Principe
1975: The island nation of Sao Tome and Principe was granted independence from Portugal. [ Test your knowledge of islands.]
the Rolling Stones
1962: Iconic British rock band the Rolling Stones performed their first show, billed as the Rollin' Stones, at a club in London. [Take our quiz about rock and roll.]
Lithuania
1920: The independent republic of Lithuania , having successfully expelled invading Soviet troops, signed a peace treaty with Russia.
SEE ALL EVENTS ON THIS DAY

 

 

Bail-Ins To Replace Bail-Outs?
Can Banks take your deposits without your permission to bail themselves out?  Details.

The American Debt Jubilee
Why economists believe that the American Debt Jubilee could be the only way to avoid a depression? And how will that affect American?  Details.

Another Battle Looms Over U.S.
Inflation is the nation's greatest threat. The impeding curremcy war could impose serious danger to your wealth.  Details


Dear Fellow Americans,

Robert Kiyosaki, the author of Rich Dad Poor Dad, recently tweeted the following:

"The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one."

With the market at all-time high, inflation on the other hand marking its highest levels since 2008. However, to say that this came as a surprise would be very naïve; many billionaires and analysts forecasted that inflation could continue to rise and a market correction could be coming. Americans are truly concerned and have noticed how the cost of everything is going up... market is at all time high, many Americans are concerned about inflation. You may have noticed how the cost of everything is going up...

The constant warning from many analysts has, somehow to do with the currency circulation increasing by $226.3 Billion. In lame term, almost 20% of all US dollars were created in 2020 alone. Isn't that a strong indication of inflation?

This Report is made free for you to learn how to protect your wealth from inflation and the next possible market correction. 

If such a disaster could be in the making, your assets are at risks and require your immediate attention!

And if you believe that now isn't the time to protect yourself and your family, when will it be?

Your FREE Report will expand on what Robert Kiyosaki is suggesting.

When opportunities come knocking, grab it. Don’t miss out on it. Robert Kiyosaki’s tweet is another reminder for you to protect your wealth and thrive during uncertain times. You know that you can’t afford to let this administration’s new policies ruins your wealth and future. Why not protect what you really care for the most!

Request Your FREE Report Now before it's too late.

 

RenewedRight Alerts

Kamala Harris made one error on TV that is going to make Democrats’ lives miserable

Kamala Harris continues to bungle her way as she’s running point on multiple policy fronts.

Harris’ errors are piling up in important battles.

And now, Kamala Harris made one error on TV that is going to make Democrats’ lives miserable.


Columnists
The Coming of Strong Man Populism and the Power of 'No!'

Kurt Schlichter


Journalist Admits Relationship Exists Between the Media and the Democrats

Brad Slager


'Kamala's Kinko's Problem'

Kevin McCullough


The Schiff-Show Is Making Its Move

Derek Hunter


A Pilgrimage To Real America

Derek Hunter


When Is Civil Disobedience the Moral Thing to Do?

Scott Morefield


Dear Madame VP: Stop Denigrating Rural Americans

Gabriella Hoffman


Conservative National Radio Host Wayne Allyn Root Announces Support for Black Reparations

Wayne Allyn Root


A Quick, Compelling Bible Study Vol. 69: Angels in the Hebrew Bible

Myra Kahn Adams



Tipsheet
Fired Trump Appointee Is Defiant After His Termination. Here's What He Plans to Do on Monday.

Leah Barkoukis


Obama's Ethics Chief Zeroes In On What Could Be the True Purpose for Hunter Biden's Art Scheme

Matt Vespa


Donald Trump Returns to the CPAC Stage, with Crowds Chanting 'Four More Years'

Rebecca Downs


In the Midst of a Busy Week of Critical Race Theory in the News, Gov. Doug Ducey Outlaws It in His State

Rebecca Downs


If This Country Wants to Be Better Prepared for the Next Pandemic, There's Something We Really Need to Do

Rebecca Downs


Twitter Wants You to Think the Major Protests in the Streets of Cuba Right Now Are Over 'Impact of COVID-19'

Rebecca Downs


WaPo: Calling Food 'Exotic... Reinforces Xenophobia and Racism'

Rebecca Downs


ADVERTISEMENT
'98 Again America Is Retreating to the False Safety of the 90's

Jason Killmeyer


America, Love It or Leave It

Jeff Crouere


Does the Aggressive Continuation of Russian Hacking Signal a Loss of Power for Putin?

A.J. Rice


Money Laundering, Mafia and Drug Cartel Accusations in Arizona’s Cattle Theft Scandal

Rachel Alexander


SCOTUS Case Could Mold Public Opinion in Favor of Protecting Life

Thomas Glessner


Defund the NEA

Rob Jenkins



Caitlyn Jenner to Run for California Governor in 2022 If Newsom Recall Is Unsuccessful

Landon Mion


Could Lisa Murkowski Be in Trouble After Primary Challenger Receives Latest Major Endorsement?

Rebecca Downs


Trump Says Big Tech Violated the Constitution and is 'Not Immune From This Lawsuit'

Landon Mion


Political Cartoons
Bearing Arms
Nikki Fried Wants State Supreme Court To Take Up Preemption | Tom Knighton

Firearms Instructor Fighting Violence Through Education | Cam Edwards

NY County Officials Take Issue With Cuomo's Latest Gun Control Law | Tom Knighton

School District That Suspended Kids Over BB Guns At Home Forced To Pay Up | Cam Edwards

New Firearm Owner? Time To Train | John Petrolino



Italy's national soccer team defeated England in a dramatic 3-2 penalty shootout to claim the European Championship yesterday, sinking The Three Lions' best chance for an international trophy in 55 years.

  • Three young Black players who missed penalty kicks before the home crowd at Wembley Stadium were subjected to racist abuse on social media after the game, drawing condemnation from the English Football Association and the British government.

The England squad had taken a knee before games "to signal its support for an end to racial inequality, and the young, multi-ethnic squad won the hearts of the soccer-mad country before the shootout failure brought out all-too-familiar messages of hate," AP reports.

1 big thing: GOP pushes new "civil right"


Illustration: Aïda Amer/Axios

 

State Republican lawmakers around the country are pushing bills to give unvaccinated people the same protections as those surrounding race, gender and religion, Axios' Caitlin Owens reports.

  • Some state lawmakers are trying to make it illegal for employers, governments or private businesses to treat unvaccinated people any differently than vaccinated people, using the same language found in federal civil rights law.

Why it matters: This is how deeply COVID vaccine resistance has burrowed in the political psyche. Vax status is now a marker of identity.

Well-known GOP figures have recently escalated their rhetoric about the vaccination effort, comparing it to Nazi Germany and apartheid.

  • At the state level, there's more bite to the bark. Many Republican-led states have enacted some kind of restriction on vaccine mandates or vaccine "passports."
  • "When we think about the normal discrimination statutes … we have protected classes based on something that is sort of inherent to you, with religion maybe being the one that is a choice," said Lowell Pearson, a managing partner at Husch Blackwell, which has been tracking the bills. "But vaccination status you certainly can control."

Between the lines: The states with restrictions on vaccine requirements tend to have lower vaccination rates than those without such laws.

  • Most of the measures are full of loopholes or have limited application.
  • Vaccine requirements aren't very popular among employers. But they're common among private businesses to have different rules for vaccinated and unvaccinated employees or customers.

Zoom in: Montana has made it illegal to "discriminate" on the basis of vaccine status, with some exceptions within the health care sector.

  • The law prohibits businesses, governmental entities and places of "public accommodation" — like grocery stores, hotels or restaurants — from refusing to serve or withholding goods from anyone based on their vaccination status or whether they have an "immunity passport."

Other state laws are generally more limited:

  • Alabama law prevents schools and universities from requiring coronavirus vaccines, prohibits vaccination as a condition of receiving government services, and bans businesses from refusing to serve someone based on their vaccine status.

What's next: Legislation similar to Montana's has been introduced all over the country.

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2. Branson opens new space age


Photo: Virgin Galactic via Reuters

 

Billionaire Richard Branson, 70, who floated in zero gravity (above) yesterday as he made a live-streamed trip to the edge of space, said aboard his Virgin Galactic winged rocket ship:

To all you kids down there, I was once a child with a dream looking up to the stars. Now, I’m an adult in a spaceship, with lots of other wonderful adults, looking down to our beautiful, beautiful Earth. To the next generation of dreamers, if we can do this, just imagine what you can do.

At a news conference afterward, he had this advice for budding entrepreneurs:

Every time we start a new company, I will immerse myself and experience it. I will have a notebook, and this is something you kids should think about. ... I've written down 30 or 40 little things that will make the next experience for the next person who goes to space with us that much better.

📷 See 2 more photos.

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3. Cuba has biggest democratic protests in decades


People demonstrate against the government in Havana yesterday. Photo: Yamil Lage/AFP via Getty Images

 

Chanting "freedom" and calling for President Miguel Díaz-Canel to step down, thousands of Cubans joined street protests nationwide yesterday in the biggest anti-government demonstrations on the Communist-run island in decades, Reuters reports.

  • The protests, the largest since 1994, erupted amid a COVID surge, with people angry over shortages of food, fuel and other basic goods.

Special forces Jeeps, with machine guns mounted on the back, were seen throughout the capital.

A man is arrested by plainclothes police during a demonstration against the government in Havana yesterday. Photo: Yamil Lage/AFP via Getty Images

📷 See 3 more photos.

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A message from Facebook

The internet has changed a lot since 1996 - internet regulations should too
 

 

It's been 25 years since comprehensive internet regulations passed. See why we support updated regulations on key issues, including:

  • Protecting people’s privacy.
  • Enabling safe and easy data portability between platforms.
  • Preventing election interference.
  • Reforming Section 230.
 
 
4. Pic du jour: Carters' 75th


Photo John Bazemore/AP

 

Amy Carter (left), age 53, raises a glass to toast her parents, former President Jimmy Carter and former first lady Rosalynn Carter, as they celebrate their 75th wedding anniversary with 300 people in Plains, Ga.

  • They're the longest-married presidential couple. Jimmy Carter, 96, is the longest-lived president. Rosalynn Carter is 93. AP
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5. Dodging Big Tech's "kill zone"


Illustration: Annelise Capossela/Axios

 

President Biden's executive order targeting big business is the most ambitious effort yet to clear space for challengers to Big Tech — but faces daunting odds, Axios' Kim Hart writes in her "Tech Agenda" column.

Tech giants have had a reputation for being friendly to entrepreneurs: Small companies depend on the platforms to reach customers and access necessities — cloud storage, payment processing, app stores.

  • But the "kill zone" is what venture capitalists call areas they won’t fund because big players have an edge, or could easily squash a startup — or buy it on the cheap and build the business themselves. 

What to watch: In a joint statement, the DOJ and FTC said Friday that they'll take a hard look at merger guidelines "to determine whether they are overly permissive."

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6. First look: Biden urges local officials to use COVID funds to fight crime
President Biden exits Marine One on the South Lawn last night: Photo: Oliver Contreras/Sipa USA via Getty Images

With crime surging around the country, President Biden plans to tell local officials to use some of their COVID relief funds to bolster their police departments, Axios' Hans Nichols reports.

  • That guidance is spelled out in a White House memo obtained by Axios ahead of Biden's meeting today with law enforcement and elected officials from around the country.

Among those attending will be Eric Adams, New York City's Democratic mayoral nominee and former police captain, who's openly critical of his own party.

  • Chicago Police superintendent David O'Neal Brown and D.C. Mayor Muriel Bowser will also be among the participants.

The memo's subject line shows how the White House is seeking to position itself: "How Local and State Government Can — and Should — Use the President’s Gun Crime Reduction Strategy and Historic Rescue Plan Funding to Improve Public Safety."

  • It was written by Domestic Policy Council director Susan Rice; Gene Sperling, who's monitoring the $1.9 trillion in COVID relief spending; and Julie Rodriguez, the director of the White House Office of Intergovernmental Affairs.

Share this story. ... Read the memo.

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7. Most unvaccinated people have low incomes
Data: U.S. Census Household Pulse Survey. Chart: Axios Visuals

More than half of unvaccinated Americans live in households that make less than $50,000 annually, Axios' Bob Herman writes from census data.

  • Almost two-thirds of unvaccinated people who make less than $50,000 still say they either "definitely" or "probably" will get the vaccine.

Making it easier for the working poor to get the COVID shot could help boost vaccination rates.

  • Vaccination has been politicized, but juggling work schedules and child care could be bigger factors than politics.
  • Workers also may worry about having to take unpaid time off if they come down with any vaccine side effects.

What to watch: Whether more employers provide rewards to vax.

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8. BlackRock CEO sees "historic opportunity" in climate transition


Larry Fink speaks to the Bloomberg Green Summit in April. Photo: Daniel Acker/Bloomberg via Getty Images

 

BlackRock CEO Larry Fink told G20 finance ministers yesterday at The Venice International Conference on Climate that faster progress on climate requires "attracting private capital for technological innovation."

  • "Right now, almost every government — as we’re seeing with the U.S. infrastructure bill — is relying on deficit spending," Fink said. "But deficit spending has its limits, especially when governments are also spending on the physical impacts of climate change."
  • "Approaches that fail to mobilize private capital are not going to be enough to get the job done."

Fink said BlackRock’s research found the transition to a low-carbon economy "represents an investment opportunity of at least $50 trillion":

  • "While these challenges on the journey to net zero are massive, I remain an optimist and do believe that the climate transition presents a historic opportunity."

Go deeper.

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9. ⚽ Racist response to England's penalty curse
Italy's fans celebrate in Rome this morning. Photo: Alessandra Tarantino/AP
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10. 1 film thing: "Black Widow" win for cinema + streaming


Photo: Disney

 

Disney's Marvel blockbuster, "Black Widow," set a COVID-era box office record this weekend, showing that simultaneous streaming and cinema releases will live on, Axios Media Trends expert Sara Fischer writes.

  • Why it matters: Black Widow proves that with the right movie, streaming releases can bring in a lot of money for big movie studios.

The big picture: The streaming boom forced studios to experiment with shorter theatrical windows, and make movies available sooner on their own streaming services.

  • Universal said last week that beginning next year, all of its film content will become available to fans exclusively on Peacock, the streaming service owned by its parent company Comcast, within four months of debuting in theaters.

Share this story.

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A message from Facebook

Why Facebook supports updated internet regulations
 

 

2021 is the 25th anniversary of the Telecommunications Act of 1996, the last major update to internet regulation. It’s time for an update to set clear rules for addressing today's toughest challenges.

See how we’re taking action on key issues and why we support updated internet regulations.



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