Glad Sunday, and hope you’re staying secure and wholesome. Right here’s what you want to know in enterprise and tech information for the week forward. — Charlotte Cowles
What’s Up? (Oct. 11-17)
Taking a Stand
Fb and Twitter drew a contemporary wave of Republican ire this previous week in blocking and limiting the spread of a New York Post article that contained unsubstantiated rumors about Hunter Biden, son of the Democratic presidential candidate, Joe Biden. After President Trump accused the platforms (as he has for years) of deliberately suppressing conservative information retailers that assist him, Twitter finally caved, permitting the article’s content material to be shared. The social media firms are fighting an uphill battle towards the spread of misinformation main as much as Election Day, and scrambling to deploy extra aggressive techniques because of this. It’s a very sharp flip for Fb, which has usually been criticized for being too sluggish and light-handed in eradicating probably harmful content material.
Sustain with Election 2020
The Unsuitable Course
The so-promised V-shaped financial restoration is beginning to look extra like a lopsided L. Jobless claims jumped last week to their highest degree since August, a reversal from the gradual downward development in unemployment. The uptick got here after a number of main firms laid off hundreds of staff, together with Disney and multiple airlines. To make issues worse, coronavirus case numbers are surging as soon as extra world wide — in addition to many areas of america — heading towards a “third peak” and forcing some businesses to shut down again.
Don’t Maintain Your Breath
When you have been clinging to a slim hope of Congress passing what now looks as if a legendary pandemic assist package deal within the coming weeks, you’ll be upset by the latest developments, or lack thereof. The dispute over the invoice’s contents and prices has gone from a two-front battle (Democrats versus Republicans) to 3, with Mr. Trump inserting himself into the dialog with wildly conflicting demands. It’s not precisely fruitful floor for compromise, and that’s unhealthy information for the thousands and thousands of Individuals who’re slipping into poverty as unemployment checks dwindle.
What’s Subsequent? (Oct. 18-24)
As we head into the vacation season, shops are making ready for a brand new problem: disputes over mask-wearing and social distancing insurance policies (sure, nonetheless). To assist staff implement guidelines for buyer security, the Nationwide Retail Federation, the nation’s largest retail commerce group, has partnered with the Disaster Prevention Institute to provide de-escalation training for retail employees. And it’s a severe concern: Earlier clashes over mask-wearing in shops have resulted in violence and even deadly force.
The favored stock-trading app Robinhood was targeted by cyber criminals who managed to compromise about 2,000 buyer accounts and steal their cash. The corporate mentioned that the service itself was not hacked; slightly, the e-mail accounts of its customers have been breached after which used to entry and siphon off funds. Robinhood has not confirmed the variety of clients affected, however mentioned that it’s working with customers to encourage two-step authentication and ensure accounts are safe.
A Place to Shelter
One vibrant spot on this pandemic world: The housing market is doing well. New authorities information is anticipated to indicate an increase in constructing permits and housing begins in September as mortgage charges proceed to hit document lows and spur demand. (Being pressured to remain house to keep away from a lethal virus definitely hasn’t harm folks’s urge for food for homeownership, both.) A number of housing metrics are actually near or above pre-pandemic ranges.
Greater than 150 enterprise and nonprofit teams, together with the U.S. Chamber of Commerce, are asking Mr. Trump to withdraw an executive order he issued in September that limits coaching on racial and gender biases. Raymond J. McGuire, one of many highest-ranking and longest-serving Black executives on Wall Avenue, is leaving his job at Citigroup to run for mayor of New York City. And because the clock runs out on a Brexit deal — for actual this time — Prime Minister Boris Johnson of Britain is running out of options earlier than his end-of-the-year deadline.