Comfortable Sunday, and hope you’re staying secure and wholesome. Right here’s what that you must 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 unfold of a New York Put up 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 help him, Twitter finally caved, permitting the article’s content material to be shared. The social media firms are preventing an uphill battle in opposition to the unfold of misinformation main as much as Election Day, and scrambling to deploy extra aggressive ways in consequence. It’s a very sharp flip for Fb, which has typically been criticized for being too gradual and light-handed in eradicating probably harmful content material.
Sustain with Election 2020
The Mistaken Route
The so-promised V-shaped financial restoration is beginning to look extra like a lopsided L. Jobless claims jumped final week to their highest degree since August, a reversal from the gradual downward pattern in unemployment. The uptick got here after a number of main firms laid off hundreds of employees, together with Disney and a number of airways. To make issues worse, coronavirus case numbers are surging as soon as extra world wide — in addition to many areas of the USA — heading towards a “third peak” and forcing some companies to close down once more.
Don’t Maintain Your Breath
In the event you had been clinging to a slim hope of Congress passing what now looks like a legendary pandemic assist package deal within the coming weeks, you’ll be dissatisfied by the most recent developments, or lack thereof. The dispute over the invoice’s contents and prices has gone from a two-front battle (Democrats versus Republicans) to a few, with Mr. Trump inserting himself into the dialog with wildly conflicting calls for. It’s not precisely fruitful floor for compromise, and that’s dangerous information for the tens of millions of People who’re slipping into poverty as unemployment checks dwindle.
What’s Subsequent? (Oct. 18-24)
As we head into the vacation season, shops are getting ready for a brand new problem: disputes over mask-wearing and social distancing insurance policies (sure, nonetheless). To assist employees implement guidelines for buyer security, the Nationwide Retail Federation, the nation’s greatest retail commerce group, has partnered with the Disaster Prevention Institute to present de-escalation coaching for retail staff. And it’s a severe concern: Earlier clashes over mask-wearing in shops have resulted in violence and even lethal drive.
The favored stock-trading app Robinhood was focused 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; quite, the e-mail accounts of its customers had 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 brilliant spot on this pandemic world: The housing market is doing properly. New authorities knowledge is predicted to point out an increase in constructing permits and housing begins in September as mortgage charges proceed to hit file lows and spur demand. (Being pressured to remain residence to keep away from a lethal virus definitely hasn’t damage folks’s urge for food for homeownership, both.) A number of housing metrics at the moment are 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 govt 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 Road, is leaving his job at Citigroup to run for mayor of New York Metropolis. And because the clock runs out on a Brexit deal — for actual this time — Prime Minister Boris Johnson of Britain is operating out of choices earlier than his end-of-the-year deadline.