The Daily Rundown: (8/5)

Here are the stories need to know August 5, 2021


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Happy Thursday,

Here’s what you need to know on this National Oyster Day

First, here is your business brief 

 Jobless claims fell last week. This is according to the Labor Department report out earlier today. 

First time claims came in at 385,000. That’s down 14,000 from the week prior. It’s also about even with what was expected. Economists forecasted 383,000 initial filings. The big news here is with continuing claims. That came at a little more than 2.9 million. That’s a pandemic era low. This comes despite stalling reopening efforts amid the concerning delta variant. It’s a bit lower than what was expected. Economists forecasted 3.2 million claims. 

Now to the skies or lack thereof….Spirit Airlines cancelled about half of its flights today.

It’s the fifth straight day of cancellations angering consumers. Since the weekend the budget air carrier cancelled more than 1,700 flights. The Florida based airline says the cancellations are because of a combination of factors. That includes bad weather and staffing shortages. Spirit is not the only air carrier facing massive delays and cancellations this week. American Airlines also cancelled hundreds of flights.

Meanwhile, Moderna reported its earnings earlier today beating Wall Street expectations. Earnings per share came to $6.46. That’s higher than $5.96 that was expected. Revenue topped $4.3 billon.  The pharmaceutical giant’s stellar earnings report comes amid a promising new study about it’s COVID-19 vaccine.  In a statement Moderna ahead of its earnings call said its vaccine still showed 93% efficacy after six months. The Boston area based company is also studying the need for a potential booster shot. According to Phase 2 clinical trials, the booster prompted a “robust” response​​ against the highly transmissible delta variant.

An educated decision — Target has announced a new plan to help its employees to get a degree. The program will be available starting this fall to 340,000 of its employees. That cover all full time and part time workers at their headquarters, stores, and distribution centers.The program will cover 250 business related degrees at more than 40 different institutions. It will also cover the cost of books. The big box retailer says it will spend $200 million as part of the program over the next four years.  

(You can always watch it here) or the full broadcast at 8:20P ET (here)

FIVE STORIES THAT SHOULD BE ON YOUR RADAR

  1. Majority of Americans in new poll say it would be bad for the country if Trump ran in 2024 (The Hill)

  2. Oh, Facebook changed its privacy settings again (TechCrunch)

  3. How Skateboarding at the Olympics Stayed Rebellious (The Atlantic)

  4. Exclusive: Intel agencies scour reams of genetic data from Wuhan lab in Covid origins hunt (CNN)

  5. Suburban NYC Home Shortage Means Would-Be Buyers Coming Up Empty (Bloomberg)

IN CASE YOU MISSED IT:

Job training programs are surging since the pandemic. I sat down with Caren Marrick CEO of Virginia Ready, one of the most successful programs in the country now on (Business Brief)

Businesses across the country are in the process of developing their plans to return to the office but not everyone is excited about it. I sat down with one executive coach, Naz Baheshti who has advice for employers on (Business Brief)

America’s longest war is almost over. At least on paper. President Joe Biden has announced that the U.S. will complete the pullout of its troops from Afghanistan by August 31, days before the 20th anniversary of 9/11 — the cataclysmic terrorist attack on America that prompted the country’s military invasion more than 6,500 miles away. But for the thousands of U.S. soldiers who have served in Afghanistan, many of whom have returned home in recent months, a different conflict is very much alive. From hunger to homelesslness, the battle for survival is real for America’s vets. Here’s my latest for (OZY)

For the Observer I wrote about What Is the Environmental Impact of the Billionaire Space Race? Experts Weigh In (Observer)

I sat down with Olivia Holt, the star of ‘Cruel Summer’ to discuss her approach to the nuances of trauma (Observer)

For TYT I wrote about How Massive Companies Sidestepped Their Vows To Uphold Democracy (TYT)

The Distraction

Every edition we will share a movie, clip, song, GIF, antidote or something that we’re into right now to help distract you from all the noise in the world. Here’s what we got for today:

Have a suggestion? Send it our way.

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MAKING A $7/MO PLEDGE HELPS SUPPORT INDEPENDENT JOURNALISM OH AND TELL YOUR FRIENDS


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By Andy Hirschfeld
@andyreports
Andy Hirschfeld is a multimedia journalist based in New York City. He’s a contributing writer to numerous publications including TYT, Al Jazeera English, Observer, The Daily Dot, BBC, CNBC, Bloomberg, CS Monitor, OZY, Fortune, and Mic among others. He’s the anchor of Business Brief, a nationally syndicated business news update and interview program. Previously he produced for CBS and CNN.