Management

National Security Guidance

Joe Biden signals another severe reversal from Donald Trump

The White House released its interim national security strategic guidance, stressing a need to build alliances and strengthen democracy, an implicit rebuff of former President Trump’s “America first" strategy. “We will only succeed in advancing American interests and upholding our universal values by working in common cause with our closest allies and partners, and by renewing our own enduring sources of national strength,” President Biden wrote in the guidance.

COVID-19

'Neanderthal thinking': Biden lays into states lifting restrictions

President Joe Biden said Wednesday that moves by Texas Gov. Greg Abbott and others to lift statewide Covid restrictions showed 'Neanderthal thinking': “I think it’s a big mistake. I hope everyone has realized right now these masks make a difference," Biden said of the decision to lift mask mandates and other Covid mitigation measures. "We are on the cusp of being able to fundamentally change the nature of this disease because of the way in which we are able to get vaccines in people’s arms.”

New York governor

Andrew Cuomo stays quiet amid calls to quit over sexual harassment claims

New York governor Andrew Cuomo has avoided public appearances for days as some members of his own party call for him to resign over sexual harassment allegations. The governor hasn’t taken questions from reporters since a 19 February briefing, an unusually long gap for a Democrat whose daily, televised updates on the coronavirus pandemic were must-see TV last spring.

Alexei Navalny

US hits Russian officials with fresh sanctions

The US has announced sanctions on seven Russian government officials and 13 Russian and European companies in response to the poisoning of the opposition leader Alexei Navalny, which a US intelligence assessment confirmed to be the work of the FSB.

Ku Klux Klan

No charges for man who displayed Klan flag next to Black neighbor's home

A prosecutor has declined to file charges against a man who displayed a Ku Klux Klan flag in his window in suburban Detroit, next to the home of a Black family. Such “horrible conduct” doesn’t violate Michigan law, Wayne county prosecutor Kym Worthy said on Tuesday, adding that an ethnic intimidation charge would require physical contact, property damage or threats of such activity.

Boy Scouts of America

They will sell Norman Rockwell paintings to fund sexual abuse claim payments

The Boy Scouts of America has said it will establish a victims’ fund of at least $300m, to deal with payments arising from lawsuits over sexual abuse and funded in part by selling its portfolio of Norman Rockwell paintings. More than 85,000 former scouts have made legal claims against the 111-year-old organization about alleged sexual abuse by leaders, according to reports.

Republican Party

Donald Trump's reemergence poses risks for GOP

Former President Trump's reentry into public life at the Conservative Political Action Conference (CPAC) on Sunday exacerbates challenges for political leaders in both parties, as well as the media. Washington has been a relatively Trump-free zone for the first 40 days of President Biden's administration, particularly with Trump banned from Twitter, the megaphone that allowed him to gin up news cycle after news cycle.

Archdiocese New Orleans

Catholics should avoid Johnson & Johnson vaccine

The Catholic Archdiocese of New Orleans urged Catholics against taking a vaccine for COVID-19 manufactured by Johnson & Johnson because the vaccine is developed from stem cells obtained from two abortions. In a statement on the archdiocese's website, the organization argued that Johnson & Johnson's vaccine was "morally compromised."

FBI

Christopher Wray says no evidence of 'antifa' involvement in Jan. 6 attack

FBI Director Christopher Wray said Tuesday that the bureau has no evidence that far-left violent extremists were involved in the Jan. 6 attack on the U.S. Capitol. “We have not to date seen any evidence of anarchist violent extremists or people subscribed to antifa in connection with the sixth,” Wray told lawmakers on the Senate Judiciary Committee, using a term to refer to the left-wing anti-fascism movement.

Donald & Melania Trump vaccinated

Opinion: Maybe Donald Trump is just a huge asshole

Getting vaccinated publicly could have gone a long way toward dispelling Republican doubts about the Covid vaccine — so of course Trump didn’t do it. Former President Trump and First Lady Melania Trump both received the Covid-19 vaccine. They just didn’t tell anyone about it.

Poll

Joe Biden's approval tops 60 percent in new poll

President Joe Biden is starting his tenure in White House with the approval of 61 percent of voters, according to a new Harvard CAPS-Harris Poll survey released exclusively to The Hill on Monday.

Andrew Cuomo

Governor says comments possibly ‘misinterpreted’ - calls to resign

A collective of former New York state legislative employees on Monday denounced Andrew Cuomo’s apology for his past behavior, after the governor was accused of sexually harassing two women, and called for his removal or resignation. Members of the Sexual Harassment Working Group also said they expected more allegations to follow – and accused Cuomo of “gaslighting” his accusers. New York attorney general Letitia James, meanwhile, announced the first step in mounting an external investigation of the governor’s behavior.

CPAC

Calls to can Goya Foods grow after CEO Unuane repeats Trump's election lies

Calls for a boycott of Goya beans, chickpeas and other foodstuffs have grown louder after chief executive Robert Unanue made a series of false claims about the presidential election in a speech to the Conservative Political Action Conference, or CPAC, in Florida on Sunday. Unanue has previously courted controversy with praise for Donald Trump, which last year prompted Ivanka Trump to pose, infamously, with a can of Goya beans. Onstage in Orlando, Unanue called Donald Trump “the real, legitimate and still actual president of the United States”.

CPAC

Hyatt Hotels says stage resembling Nazi rune is 'abhorrent'

The Hyatt Hotels Corporation called symbols of hate “abhorrent” on Sunday after the design of a stage at the right-wing Conservative Political Action Conference (CPAC) at one of its hotels drew comparisons to a Norse rune used by Nazis during the second world war.

The Oracle of Omaha

Warren Buffett admits to a rare 'mistake'

In his annual letter to shareholders of Berkshire Hathaway (BRKB), investing guru Warren Buffett disclosed that the company took an $11 billion writedown last year on its 2016 purchase of Precision Castparts, describing it as "a mistake." The 90-year-old billionaire, Berkshire's chairman since 1970, said in the company's annual letter to shareholders that the "ugly" writedown had a simple explanation.

COVID-19

CDC signs off on Johnson & Johnson vaccine

The Centers for Disease Control and Prevention (CDC) on Sunday formally accepted the recommendation from its advisory panel that Johnson & Johnson's COVID-19 vaccine can be given to people ages 18 and older in the United States. The announcement by CDC Director Rochelle Walensky will allow vaccinations to begin as soon as the doses are received. Walensky called the decision "another milestone toward an end to the pandemic."

CPAC

News outlets diverge over airing Trump's speech

CNN and MSNBC did not air former President Trump's speech at the Conservative Political Action Conference (CPAC) on Sunday while Fox News and other conservative outlets such as Newsmax and OANN carried his remarks live. Fox News began airing Trump's speech after the former president took to to the stage at 5 p.m. ET on Sunday. CNN continued on with coverage of the coronavirus pandemic and MSNBC continued to air its "PoliticsNation" program, though it aired a short clip from the speech.

CPaC

Trump wins straw poll with 55 percent

Former President Trump won the Conservative Political Action Conference (CPAC) straw poll on Sunday, with 55 percent of respondents saying they would vote for him in a hypothetical 2024 primary. In the straw poll that demonstrated Trump's hold on the GOP, 21 percent said they’d vote for Florida Gov. Ron DeSantis (R) and 4 percent said they’d go with South Dakota Gov. Kristi Noem (R). Almost 7 in 10 of the poll’s participants said they would like to see Trump run for president in 2024, compared with 15 percent who said they would not and 17 percent who said they were unsure.

COVID-19

Justice Department appeals order blocking federal eviction ban

The Justice Department is appealing a ruling by a U.S. judge in Texas blocking the federal eviction moratorium, the agency announced late Saturday, arguing that the ban remains broadly in effect in the meantime. The court in the Eastern District of Texas blocked the Centers for Disease Control and Prevention’s moratorium on Thursday, ruling that the federal government had overstepped its authority in imposing the sweeping ban. The decision “does not extend beyond the particular plaintiffs in that case, and it does not prohibit the application of the CDC’s eviction moratorium to other parties,” acting Assistant Attorney General Brian Boynton argued. “For other landlords who rent to covered persons, the CDC’s eviction moratorium remains in effect."

COVID-19

Fauci urges Americans to take any of three Covid vaccines available to them

The nation’s leading infectious disease expert has urged Americans to take whatever vaccine is immediately available to them, following this weekend’s approval of the Johnson & Johnson single-dose jab as a third option in the fight against Covid-19.

Republicans

Republican predicts Trump won’t be party’s presidential nominee in 2024

Bill Cassidy, the Louisiana Republican senator, predicted on Sunday morning that Donald Trump will not be the party’s nominee for president in 2024, pointing to the number of seats lost by Republicans in the House and Senate over the four years Trump was in office.

CPAC

Completely insane Donald Trump repeats his big lies at far-right summit

Donald Trump on Sunday launched his attempted political comeback, teasing a possible run for the presidency in 2024 and denouncing Joe Biden for “the most disastrous first month of any president in modern history”. The former president made his first speech since leaving the White House at the rightwing Conservative Political Action Conference (CPAC) in Orlando, Florida, to an effusive reception. Trump claims, entirely falsely, that he actually won the 2020 election but was fraudulently denied his victory.

Shortnews

COVID-19: USA

Goldman Sachs announces return to work

Goldman Sachs is going back to work. The banking giant told staff on Wednesday that it would start letting people back into its offices in the coming weeks after shutting most of them down in March amid the coronavirus pandemic. In a memo to staff, Goldman’s chief executive officer, David Solomon, said staff around the world would soon be notified of plans to allow people to return to their offices. Staff will return on a rotational basis in some offices and the plans will vary depending on local, business and personal circumstances.

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COVID-19: USA

Goldman Sachs announces return to work

Goldman Sachs is going back to work. The banking giant told staff on Wednesday that it would start letting people back into its offices in the coming weeks after shutting most of them down in March amid the coronavirus pandemic. In a memo to staff, Goldman’s chief executive officer, David Solomon, said staff around the world would soon be notified of plans to allow people to return to their offices. Staff will return on a rotational basis in some offices and the plans will vary depending on local, business and personal circumstances.

“Over the coming days and weeks, colleagues in those offices will hear from their divisional, business and/or local leadership about what to expect for the months ahead, including team rotations in the office where possible, with the goal of giving everyone who can do so an opportunity to come in to their office,” Solomon said.

“Importantly, this rotational approach will not look the same for everyone, as we each navigate unique personal responsibilities – for example, planning around adjusted school schedules, managing personal and family health conditions, and not being comfortable commuting to the office during peak hours, among many other considerations,” Solomon said.

JP Morgan announced similar plans last month and is planning to allow staff to cycle between days at the office and at home. But while the banks are making moves to return to a situation closer to their pre-pandemic working arrangements, JP Morgan has estimated a quarter of its close to 61,000 staff could still be working from home for the foreseeable future.

Six biggest tech stocks

More than $1 trillion in value lost in three days

The six biggest tech stocks have lost more than $1 trillion over the last three days alone, but it’s really just a dent coming off a huge rally that peaked last week. Apple, which hit a $2 trillion market cap on Aug. 19, is down about $325 billion in that time period. Microsoft’s down $219 billion, Amazon fell $191 billion, Alphabet cratered by $135 billion, and Tesla, which fell 21% on Tuesday to mark its worst single-day loss in its history, is down $109 billion in the last three days.

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Six biggest tech stocks

More than $1 trillion in value lost in three days

The six biggest tech stocks have lost more than $1 trillion over the last three days alone, but it’s really just a dent coming off a huge rally that peaked last week. Apple, which hit a $2 trillion market cap on Aug. 19, is down about $325 billion in that time period. Microsoft’s down $219 billion, Amazon fell $191 billion, Alphabet cratered by $135 billion, and Tesla, which fell 21% on Tuesday to mark its worst single-day loss in its history, is down $109 billion in the last three days.

Finally, Facebook is off by $89 billion.

“In general, if you think about the market cap loss over the last 3 days for Apple, it’s about $325 billion. To help put that in perspective, that’s about 1.5 Salesforces, and equivalent to Apple’s projected revenues for the next calendar year,” Jefferies’ Jared Weisfeld told CNBC’s “Fast Money” on Tuesday.

Despite the huge number, it’s worth keeping in perspective given the tech giants’ massive rise in value this year.

At the beginning of 2020, the six largest tech companies were worth about $5 trillion. On Wednesday, Sept. 2, they peaked with a value of $8.2 trillion. After Tuesday’s close, they have a combined market cap of $7.1 trillion. While it’s a big loss over a few days, these six companies are still worth $2.1 trillion more than they were at the beginning of the year -- despite the global coronavirus pandemic and record job losses in the U.S.

Apple

Epic Games’ App Store account suspended

Apple on Friday said it suspended Epic Games’ developer account. It follows a temporary restraining order on Monday evening, in which a judge ruled that Apple can block Fortnite but not Epic’s developer account. However, Apple said it terminated an Epic developer account that does not include the Unreal Engine that’s used by third-party developers to make 3D games, which keeps the move in line with the judge’s order. ″We are disappointed that we have had to terminate the Epic Games account on the App Store. We have worked with the team at Epic Games for many years on their launches and releases,” Apple said.

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Apple

Epic Games’ App Store account suspended

Apple on Friday said it suspended Epic Games’ developer account. It follows a temporary restraining order on Monday evening, in which a judge ruled that Apple can block Fortnite but not Epic’s developer account.

However, Apple said it terminated an Epic developer account that does not include the Unreal Engine that’s used by third-party developers to make 3D games, which keeps the move in line with the judge’s order.

″We are disappointed that we have had to terminate the Epic Games account on the App Store. We have worked with the team at Epic Games for many years on their launches and releases,” Apple said.

“The court recommended that Epic comply with the App Store guidelines while their case moves forward, guidelines they’ve followed for the past decade until they created this situation. Epic has refused. Instead they repeatedly submit Fortnite updates designed to violate the guidelines of the App Store.

This is not fair to all other developers on the App Store and is putting customers in the middle of their fight. We hope that we can work together again in the future, but unfortunately that is not possible today.”

An Epic Games spokesperson pointed CNBC to a blog post with earlier comments, including: “Apple is asking that Epic revert Fortnite to exclusively use Apple payments. Their proposal is an invitation for Epic to collude with Apple to maintain their monopoly over in-app payments on iOS, suppressing free market competition and inflating prices. As a matter of principle, we won’t participate in this scheme.”

Epic Games’ titles, including Fortnite, have been a huge success, including through Apple’s App Store.

“We estimate that, since January 2012, Epic Games’ mobile titles have been downloaded more than 159 million times across Apple’s App Store globally, generating approximately $1.2 billion in consumer spending,” Stephanie Chan, mobile insights strategist for Sensor Tower, an app analytics company, told CNBC.

“Thirty percent of this revenue, or approximately $360 million, went to Apple.”

The battle between Apple and Epic Games started after Epic included a new direct purchase option inside Fortnite that circumvented Apple’s 30% revenue cut from in-app purchases. Apple pulled the app from the App Store on the same day and, shortly after, Epic Games filed a lawsuit.

Apple said it provided Epic Games 14 days to update Fortnite to meet its app store guidelines, after which it would suspend Epic Games’ account. Apple said this is standard practice for all developers.

The suspension means Epic Games can no longer submit games or updates to games, like Fortnite, for publication to the iOS and Mac App Stores. While people who already have the game installed can still play it, they just won’t get any updates. Players also can’t buy any in-game content. They also can’t play the new Fortnite season, which recently launched.

Apple said that Fortnite’s users have been directed by Epic Games to contact AppleCare, and that those requests have caused refund quality issues and support problems for Apple users around the world.

MGM Resorts lays off 18,000 workers

MGM Resorts lays off 18,000 workers

MGM Resorts International is laying off 18,000 furloughed workers in the U.S. as a global travel slowdown impedes the casino industry’s recovery from the ongoing pandemic. The job cuts, which start Monday, represent about one-fourth of the company’s pre-pandemic workforce of 68,000 U.S. employees. After casino shutdowns and furloughs in March, the continuing spread of coronavirus in the U.S. has prevented the rebound of many industries, including hospitality, airlines and oil extraction.

Google

Noch ein Jahr im Home-Office

Noch ein Jahr Heimarbeit: Google will für die kommenden zwölf Monate Heimarbeit. Firmenchef Sundar Pichai hat die Entscheidung vergangene Woche nach einer internen Debatte getroffen. Die Google-Mutter Alphabet hatte Ende vergangenen Jahres etwa 119.000 Vollzeit-Mitarbeiter. Der Internet-Konzern legt sich damit als eines der ersten großen Unternehmen auf eine sehr späte Rückkehr in die Büros fest. Zugleich gaben einige Tech-Unternehmen wie etwa Twitter ihren Mitarbeiter bereits die Freiheit, auch nach dem Ende der Corona-Pandemie weiter uneingeschränkt von zuhause arbeiten zu dürfen.