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The World
Pfizer said its vaccine is 95% effective in its final data and will seek authorization within days, meaning the shot could be on track to go into distribution by the end of the year. In Sweden, the government cut the size of public gatherings sharply as it sought to come to grips with a second wave. In the U.S., hospitals such as Mayo Clinic and Cleveland Clinic are canceling elective procedures again, and mass nationwide school closures loom, while Ohio starts a 3-week overnight curfew tomorrow, and Kroger and Publix have reimposed purchase limits on some items. Sen. Charles E. Grassley tested positive for coronavirus. But while covid cases are spiking, our attention is waning. (Reuters, HealthcareDive, U.S. News, Specialty Food, Des Moines Register, Axios, Finance 202)
UK Prime Minister Boris Johnson unveiled a ten-point plan for a “green industrial revolution” which he says will create and support up to 250,000 jobs and is supported by £12 billion of government investment. The sale of new petrol and diesel cars and vans will be banned from 2030 and hybrid vehicles outlawed five years later. Diesel lorries will also be phased out in the attempt to meet climate change targets. There will be a significant expansion of grants for domestic energy improvements and new funding for nuclear and hydrogen power. (The Times, The Times-2)
Australia slammed China for ‘fanciful’ claims on trade dispute: In the latest diplomatic back-and-forth between Australia and China, trade minister Simon Birmingham claims Canberra has reached out to Beijing, but to no avail. In Thailand, lawmakers ruled out five of seven proposals for amending the constitution while more than 10,000 young protesters rallied at one of Bangkok's commercial hubs. (South China Morning Post, Nikkei Asian Review)
Officials in Belarus have been accused of meting out collective punishment after thousands of homes in a pro-opposition district were left without running water and central heating as temperatures plunged below freezing. (The Times)
A no-deal Brexit could lead to a repeat of the “cod wars” between Britain and Iceland across the EU, an Irish fishing group has warned, including disputes in the Irish Sea, around the northwest Irish coast near Scotland, in the English Channel where waters are shared with France, and the North Sea, where some waters are shared with Denmark. (The Times)
The U.S. military shot down an intercontinental ballistic missile in a test that demonstrated for the first time that the U.S. can intercept ICBMs from a warship at sea. The test comes as the U.S. steps up its missile defense capabilities in response to North Korea’s advancing arsenal, and, observers say, serves as a warning to Beijing. (Washington Post, South China Morning Post)
52% of Republicans believe President Trump “rightfully won” the election but that it was stolen from him by widespread voter fraud that favored President-elect Biden. Meanwhile, the Trump campaign is requesting recounts in Milwaukee and Dane counties, which overwhelmingly backed Biden. Separately, the Wayne County (MI) Board of Canvassers abruptly changed course Tuesday night and certified the results of the Nov. 3 election after initially deadlocking 2-2 along party lines, which could have delayed the state process for authorizing results. Earlier, President Trump fired the head of the Cybersecurity and Infrastructure Security Agency at DHS who refuted his claims that the election was rigged. (Reuters/Ipsos, Milwaukee Journal Sentinel, Detroit News, Washington Post)
Economy
Google is moving into Venmo and banks’ territory with checking accounts and an updated Google Pay app, letting users open a bank account through its Google Pay app in a partnership with Citi and Stanford Federal Credit Union beginning next year. The app also will allow people to pay friends, similar to PayPal’s popular Venmo and Square’s Cash App. Meanwhile, Americans continue to shy away from adding onto their credit cards even as they borrow more to buy houses and cars. Household debt overall rose by $87 billion, or 0.6%, to $14.35 trillion in the third quarter compared with the second quarter. But credit-card balances declined by $10 billion to $810 billion. (CNBC, Wall Street Journal)
Japan’s yen is attracting fresh interest as the highest yielder among the three major currencies. Analysts cite two big reasons: As a net creditor nation in a world of fiscal profligacy, the yen has retained some of its safe-haven credentials. In addition, as interest rates in Europe and the U.S. plunge, Japanese government bonds offer comparatively higher returns, in particular, on an inflation-adjusted basis. (Reuters)
Robinhood Markets has asked banks to pitch for roles in an initial public offering. The company is aiming to go public as soon as the first quarter of 2021. (Bloomberg)
Jack Ma’s investment firm raises $3 billion as foreign capital chases China. Yunfeng Capital is one of at least four well-known China-focused firms to raise funds of $1 billion or more this fall, underscoring how investment capital is being concentrated into fewer, bigger funds in China. (The Information)
Judy Shelton’s nomination to the Federal Reserve Board of Governors was blocked in the Senate, with bipartisan opposition to the controversial economist and GOP absences prompted by the coronavirus imperiling her candidacy. (Washington Post)
NYC hotel owners have to pay more than $500 million to employees displaced by Covid-19. It is likely to be the biggest on record for any hotel-union group in the country, and the magnitude is heightening tensions between lodging owners and the hotel union as Covid-19 ravages New York’s hospitality business. (Wall Street Journal)
Last year, the U.K. division of Zurich advertised 80% of its open positions as “part-time, full-time, job share or flexible working” opportunities. (It also used “gender-neutral language” in each listing.) The results are noteworthy: Zurich says women made up a larger share of applicants for top jobs, and, ultimately, the 28 senior women it hired represented 50% of all senior hires, up from women’s 37.5% share the previous year. Zurich HR Head Steve Collinson: “[W]e’ve seen hugely encouraging results, simply by adding six words to our job adverts.” The findings suggest that offering roles with more flexibility could “help women progress into higher paid jobs whilst fitting other commitments around their careers.” (Fortune)
Technology
The Senate Judiciary held a hearing with Facebook’s Mark Zuckerberg and Twitter’s Jack Dorsey, the end result of Sen. Graham’s and Sen. Cruz’s New York Post concerns. But with the pressure valve of the election fully released, the hearing struck an unusually libertarian tone, suggesting some Republicans may be cooling on the idea of heavy-handed tech regulation. (The Verge)
Google’s latest Chrome update delivers ‘largest performance gain in years.’ One update involves tabs: Chrome now will prioritize your active tab over the others in the background, “reducing CPU usage by up to 5x and extending battery life by up to 1.25 hours (based on our internal benchmarks).” But even opening Chrome should feel faster. The browser now launches 25% faster and loads pages up to 7% faster, “and does all of this using less power and RAM than before.” (The Verge, Google)
Microsoft is working with chipmakers AMD, Intel and Qualcomm to bring a new security processor to Windows machines. Dubbed Pluton, the security chip is based on work done for the Xbox One and designed to bring an added layer of security. A number of difficult-to-patch chip flaws in recent years have left computers vulnerable to attack. It also comes as many of the biggest tech companies, including Apple, Google, Microsoft and Amazon, are increasingly designing their own silicon to augment traditional processors. (Axios)
Steve Jobs’s last gambit: Apple’s M1 Chip. The M1 chip can’t be viewed in isolation. It is a silicon-level manifestation of what is happening across computing, especially in the software layer. In large part due to mobile devices, which are always connected, computers now must startup instantaneously, allowing the user to look, interact, and move away from them. There is low latency in these devices, and they are efficient. There is a higher emphasis on privacy and data protection. They can’t have fans, run hot, make noise, or run out of power. This expectation is universal, and as a result, the software has had to evolve along with it. (Om.co)
Apple’s M1 MacBook Air and MacBook Pro Review: The laptop’s biggest leap in years: Goodbye, loud fan noise, warm palm rests and multiple daily rechargings. Apple’s new chip fundamentally changes its 13-inch laptops. (Wall Street Journal)
Smart Links
UPS to allow facial hair and natural hairstyles; no more gender-specific guidelines in diversity push. (Wall Street Journal)
Apple to halve App Store fees to 15% for most developers. (The Verge)
Podcast wars heat up. (Axios)
Food, beverage companies ask for vaccine priority. (Specialty Food)
12-minute exercise bursts offer big benefits. (Harvard Gazette, Circulation)
Video gaming can benefit mental health: Study. (Oxford University)
Failed study spawns fresh debate about fish-oil-derived drugs for heart disease. (STAT News)