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The World
60% of Americans say they would definitely or probably get a coronavirus vaccine if one were available today, up from 51% who said this in September. Dr. Deborah Birx warned that the escalating coronavirus surge is the “worst event that this country will face.” Moncef Slaoui, chief science adviser to Operation Warp Speed, predicted that by the end of January, there will be a “significant decrease” in deaths among the nation’s elderly, as high-risk populations receive vaccinations. Rudy Giuliani tested positive for coronavirus. More than half of New York Fire Department (FDNY) personnel say they’ll refuse a vaccine. (Pew Research Center, CNBC, Washington Post, New York Times, New York Post)
Meanwhile, the story of how the leading vaccines made it to the finish line include an astonishing, 11-month sprint harnessed new technology that will pave the way for other vaccines and breakthrough medical treatments. (Washington Post)
UK Prime Minister Boris Johnson and EC President Ursula von der Leyen agreed to a “final throw of the dice” this week to salvage a deal. Johnson told the EU that Britain must have “freedom” to make its own rules, as cabinet ministers said he should pursue a no-deal Brexit unless Brussels backs down. A senior No 10 figure warned the chances of getting an agreement were now “no better than 50-50” after more than four years and five months of talks. (The Times)
The U.S. is preparing sanctions on at least a dozen Chinese officials over their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong. Meanwhile, the British navy will dispatch an aircraft carrier strike group to waters near Japan as soon as early next year, in a rare development that comes amid the growing maritime assertiveness of China in the region. (Reuters, Nikkei Asian Review)
Prince Turki al-Faisal, a former Saudi intelligence chief who is close to King Salman, launched a stinging attack on Israel in comments that hinted at tensions in the kingdom over whether it should begin to formalize relations with the Jewish state. Al-Faisal accused Israel of being the “last of the western colonizing powers in the Middle East,” while Israeli Foreign Minister Gabi Ashkenazi expressed “regret” at the comments during a panel discussion that also included Bahrain’s Foreign Minister. (Financial Times, Jerusalem Post)
Poland’s EU budget veto is stoking increased talk of a ‘Polexit.’ Opinion polls show more than 80% of Poles want to remain — even more than the 78% who voted to join in 2003. However, the ruling party’s opponents fear that its clashes with Brussels and repeated sniping at the EU could eventually shift public opinion against the bloc, and one day take Poland down the same track as the UK to EU exit. (Financial Times)
Southern California and the San Joaquin Valley came under a stay-at-home order starting last night. However, Riverside County Sheriff Chad Bianco said he will not enforce the order, and tensions are growing between restaurant owners and film crews. (Los Angeles Times, Orange County Register)
President-elect Biden selected Xavier Becerra, a former congressman who is now the Democratic attorney general of California — and a surprise choice — as his nominee for secretary of health and human services, ending a politically delicate search that brought complaints from the Congressional Hispanic Caucus about a lack of Latinos in the incoming cabinet. Biden also selected Rochelle Walensky, the chief of infectious diseases at Massachusetts General Hospital, to run the CDC. (New York Times, Politico)
In France, attempts to calm growing public fury over new legislation deemed a danger to civil liberties was challenged with a new wave of protests across the country. Meanwhile, author Roald Dahl's family apologized for author's anti-Semitic remarks.(The Guardian, Le Monde, The Telegraph)
Which schools leave the most college loan debt? Not world-famous Ivy League schools, but rather they include art schools and historically Black colleges. Meanwhile, community college enrollment dropped 10% this year, while some colleges are planning to bring back more students this spring. Temple University will pay the U.S. Department of Education a $700,000 fine following an investigation into its business school submitting false data for U.S. News & World Report's college rankings. (Wall Street Journal, Washington Post, New York Times, Higher EdDive)
Dry ice is hotter than ever: Solid carbon dioxide has long been essential to manufacturing, food processing, and high-school theater. Now it’s a key part of the race to get America vaccinated. (The Atlantic)
Economy
Goldman Sachs is weighing plans for a new Florida hub to house one of its key divisions, in another potential blow to New York’s stature as the de facto home of the U.S. financial industry. Executives have been scouting office locations in South Florida, speaking with local officials and exploring tax advantages as they consider creating a base there for its asset management arm. The bank’s success in operating remotely during the pandemic has persuaded members of the leadership team that they can move more roles out of the New York area to save money. (Bloomberg)
China controls much of the world’s supply of cobalt, raising fears that the country enjoys an insurmountable edge in developing electric vehicles. Meanwhile, investors are piling into wagers on industrial metals like copper and nickel, betting that coronavirus vaccines and stimulus programs will drive a boom in manufacturing activity. Copper prices have risen to their highest level in almost eight years. Iron ore is one of the year’s best-performing assets. Other raw materials, such as aluminum and zinc, have added roughly 15% since the end of September and 40% or more since mid-May. (The Wire China, Wall Street Journal)
Mastercard is investigating allegations against Pornhub following Nicholas Kristof’s New York Times column which said many videos posted on the adult website depicted child abuse. Billionaire investor Bill Ackman called on Mastercard and Visa to temporarily withhold payments to Pornhub following the newspaper column (Reuters, New York Times)
Venture funding to global startups slowed slightly in November, following a blockbuster third quarter. Overall, startups brought in $23 billion last month, down 12 percent from the year-ago period. (Crunchbase)
Tesla says Black people hold 4% of its U.S. leadership roles and 10% of its total workforce in the country. Women comprise 17% of the company’s U.S. leadership roles - directors and vice presidents - and 21% of the overall workforce, according to the report. The figures for Asian, Black and Hispanic people combined are 33% and 60%. (Reuters, Tesla DEI Report)
Ease of telecommuting has not been a sufficient factor to boost countries’ economies during the pandemic. Factors like infection rates and lockdown measures have had massive impacts as well. Consider the U.K., where 59% of the workforce can work from home but quarterly GDP growth dropped nearly 22% between 2Q19 and 2Q20. In addition to high infection rates, the U.K. is disproportionately reliant on the services sector. (Axios)
Technology
Airbnb has plans to raise its IPO target price range to between $56 and $60 per share, underscoring demand for new U.S. stocks. Last Tuesday, Airbnb set a $44-$50 price range. (Reuters)
A paper co-authored by former Google AI ethicist Timnit Gebru raised some potentially thorny questions for Google about whether AI language models may be too big, and whether tech companies are doing enough to reduce potential risks. MIT Technology Review read the paper that forced Gebru out. Meanwhile, the email that led to her exit is published. (The Verge, MIT Technology Review, One Zero)
Patch, the hyperlocal (and profitable) local digital news company, has built a new software platform called "Patch Labs" that lets local news reporters publish their own newsletters and websites. The software is currently being used by several local journalists cover small communities independently, as well as a few local newsrooms, and follows a growing trend of journalists going solo via newsletters at the national level. The software allows reporters to sell ads and subscriptions directly via the platform, and keep most of the revenue. (Axios)
Jupiter and Saturn are heading for their closest visible alignment in 800 years. On Dec. 21, Jupiter and Saturn will appear to be no more than a dime’s width apart in the night sky. This event is called a "great conjunction." These occur every 20 years this century as the orbits of Earth, Jupiter, and Saturn periodically align making these two outer planets appear close together in our nighttime sky. Even so, this is the "greatest" great conjunction between Jupiter and Saturn for the next 60 years, with the two planets not appearing this close in the sky until 2080. (New York Times, NASA)
Smart Links
The Bloomberg 50: The people who changed global business in 2020. (Bloomberg)
How to elevate an inclusive community of entrepreneurs. (MIT Sloan)
How America's richest zip code — Atherton, CA — stays exclusive. (The Guardian)
25% of annual book sales occur during the holiday season. (InfoDocket)
The books to read before you start a business. (Wall Street Journal)
Christmas tree sales are booming. (New York Times)
UK new car sales fall nearly 30% amid second Covid lockdown. (The Guardian)
Elon Musk reportedly plans to move to Texas. (The Verge)
Jeff Bezos: Blue Origin space company will take first woman to the moon. (The Guardian)