Thursday, September 5th, 2019

Dorian Strengthens, YouTube Fine & NFL’s 100th Season

(+ Is a Recession Near?)

All the news you need in less than 10 min:

Today's episode is brought to you by M.M.LaFleur.

Story Summaries

All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want perusing the latest happenings...

Dorian Update: Hurricane Dorian is a Category 3 major storm again. Florida avoided the worst, but Georgia and the Carolinas will feel more of an impact today and tomorrow. There’s a chance Dorian could make landfall in North Carolina. In the Bahamas, the death toll is up to at least 20, and relief workers are still having trouble bringing supplies in because of flooding at the airport.
Read more: Weather Channel, AccuWeather, CBS News, NYT, CNN, How to Help

Military Projects vs. Border Wall: President Trump is redirecting billions of dollars from military projects to help build a wall on the U.S.-Mexico border. Military projects in 23 states, 19 countries and three U.S. territories are now on hold. The Trump administration says the money is needed for a national crisis at the border, but some lawmakers say it's "undermining military readiness.”
Read more: Politico, US News, NPR

Lightbulb Rules: New rules requiring more efficient lightbulbs in the U.S were supposed to go into effect in January, but the Trump administration is rolling back those planned regulations. The Energy Department says the change will make sure consumers have more choices, but critics say the reversal will lead to higher energy costs and an increase in greenhouse gas emissions. Meanwhile, ten Democratic candidates for president took part in a town hall about climate change last night.
Read more (Lightbulb Rules): The Washington Post, Axios, CNBC
Read more (Town Hall): CNN, NYT

Brexit Votes: British lawmakers are blocking a no-deal Brexit -- meaning, once finalized, the U.K. cannot leave the European Union without a deal in place. This is a big setback for Britain’s new Prime Minister Boris Johnson. Lawmakers also said Johnson can’t call an early general election in mid-October in an effort to get a new Parliament.
Read more: The Guardian, NBC News, BBC, New York Times, WSJ

YouTube Fine: YouTube was hit with a $170 million fine from the FTC for illegally collecting data on kids. This is the largest penalty ever assessed for violating the Children’s Online Privacy Protection Act, which prevents companies from collecting personal information from kids younger than 13. Still, critics say the fine is not big enough. Since Google owns YouTube, it only takes two days for Google to make that kind of money. YouTube plans to make some changes to its site, including turning off comments, personalized ads and notifications on children’s videos. The changes are set to start in January.
Read more: CNET, WSJ, FOX News

China’s Cloned Cat: Pet-cloning is illegal in some countries, but others, like South Korea and the U.S, allow it. Now, China is joining the list of countries well-known in the pet-cloning market. The first cloned cat in China was announced. The Chinese company behind this has already cloned dogs and says it’s working on cloning a horse.
Read more: NYT, IBT

100th NFL Season: The 100th NFL season starts tonight with the Green Bay Packers up against the Chicago Bears. To help celebrate, a free concert with well-known artists will take place in Chicago today, and it's also part of a good cause. Roc Nation and the NFL will donate $400,000 to two Chicago charities that help at-risk youth.
Read more (100th Season): CBS Sports, ESPN
Read more (Free Concert): Variety, CBS Chicago

Porsche’s First Electric Car: Porsche revealed its first all-electric car. The automaker has been teasing it for years but finally showed it to the public yesterday. The Taycan will be available in two versions. It’s meant to be an electric car that can still compete in speed and power. The price tag starts at more than $150,000. It hits the road later this year.
Read more: The Verge, Ars Technica, CNN

“Dumb Phone”: The Light Phone 2, also known as the “dumb phone," is now available. It’s designed to be simple, without any of the bells and whistles that smartphones have. The Light Phone 2 works to make phone calls, send text messages and set alarms, but there are no other apps for things like email, social media or entertainment. It’s supposed to help get people to put their phones down and stop 'smartphone addictions.'
Read more: Business Insider, Engadget

The Testaments on Hulu: Popular Hulu series The Handmaid’s Tale may be getting a new storyline. Margaret Atwood, the author of The Handmaid’s Tale book, is releasing the sequel in a new book called The Testaments. The book comes out next week, but MGM and Hulu are working on a screen-project. The Testaments is set 15 years after The Handmaid's Tale ends. It's not clear yet if it will be part of a current Hulu series or if it will be a separate show or movie. The book comes out Tuesday.
Read more: EW, TIME

Thing To Know Thursday

Is a recession coming?

Read more: NABE, PBS, CNBC

Megan Greene Headshot.jpg

Today’s guest: Megan Greene

Megan Greene is a Senior Fellow at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School, and she also writes a monthly column on global economics for the Financial Times. She serves on the board of directors of the National Association for Business Economists (NABE), the Parliamentary Budget Office in Ireland, Rebuilding Macroeconomics and Econofact. Megan also regularly advises governments and central banks in the US, UK, eurozone and Japan.