Newsletter Aug 11, 2021

In a rare show of bipartisanship, the Senate voted 69-30 to pass President Biden''s $1.2 trillion infrastructure bill, but the next step won't be as easy.

3 things you must know

Senate green-lights Biden's $1.2 trillion infrastructure bill
The Senate voted in favor of President Joe Biden's $1.2 trillion infrastructure bill on Tuesday, but Democrats still have a long way to go to pass the bipartisan bill -- not to mention the additional $3.5 trillion package they hope to push through via budget reconciliation.
The measure passed with the support of 19 GOP senators but the votes might not come as easily in the House, where Speaker Nancy Pelosi has vowed not the bring the bill to a vote until the larger plan is approved. Not only are Republicans opposed, but both moderate and progressive Dems in the House are threatening to derail the deal. Oh, and they're up against a deadline of the August recess.
FIND OUT HOW DEMS PLAN TO PUSH THROUGH BOTH BILLS

China's lockdowns could be dire news for global economy
Some say it's only fitting that China, the original source of the COVID-19 pandemic, is suddenly dealing with the same outbreaks the rest of the world has been dealing with for 1 1/2 years. But the cost of China's current crackdown could have further global impacts.
With lockdowns in 17 provinces pulling the plug on production, a lagging Chinese economy holds serious implications for the rest of the world. Disruptions to the supply chain and international trade, increasing costs, and rising inflation may be felt around the globe. US consumers may literally pay the price for China's mass outbreak.
SEE HOW CHINA'S ZERO TOLERANCE POLICY IS WORKING

Confidence drops below 100 among small business owners
While consumer confidence and corporate confidence are looking up as the US emerges from the pesky pandemic, the backbone of the American economy is still not so optimistic. Confidence among small business owners dipped below the 100-mark due to several factors.
the biggest obstacle facing small businesses is hiring as nearly half of those surveyed said they could not fill their job openings with qualified employees. Ironically, only a quarter said they plan to pay workers higher wages, making it difficult to attract and retain talent.
FIND OUT THE OTHER HURDLES FACING SMALL BUSINESSES

Markets

DJIA	35,264.67	0.46%
S&P 500	4,436.75	0.10%
Nasdaq Composite	14,788.09	-0.49%
Japan: Nikkei 225	28,070.51	0.65%
UK: FTSE 100	7,190.53	0.41%
Crude Oil Futures	68.36	0.10%
Gold Futures	1,733.80	0.12%
Yen	110.79	0.20%
Euro	1.17	-0.07%
* As of market close

Cuomo resigns under pressure of sex scandal

Vowing to never back down from an ever-growing number of sexual misconduct charges against him, New York Governor Andrew Cuomo had a change of heart Tuesday by announcing his resignation effective Aug. 24. Seeing the writing on the wall of an impending impeachment and perhaps even criminal charges, Cuomo defiantly called it quits.

It was a surprising downfall for the 63-year-old Cuomo, who a year ago earned praise for his handling of the COVID-19 pandemic when New York was the US epicenter of the virus. Revelations that he covered up the number of nursing home deaths, along with sexual harassment claims from 11 women, ultimately left Cuomo with no alternative but to resign.

FIND OUT WHO WILL MAKE HISTORY BY REPLACING CUOMO

Fauci calls for vax mandate for teachers

Dr. Anthony Fauci's recent calls for stricter mandates of masks and vaccinations isn't going to win him any popularity contests. But then again, he isn't running for one. He pointed it out Tuesday when calling for all teachers to be vaccinated before they return to the classroom this fall.

â€œYeah Iâ€™m going to upset some people on this, but I think we should,â€ Fauci said of the vaccine mandate. â€œThis is very serious business. You would wish that people would see why itâ€™s so important to get vaccinated.â€

The request comes as the Delta variant continues to ravage the US and as children return to school amid a surge among young people. Fauci is also calling for mask mandates in areas where the vaccine rates are low.

FIND OUT WHEN CHILDREN 12 AND UNDER CAN GET VAXXED

TikTok tops Facebook as most popular app

Out with the old and in with the new. That's the message to take from Tuesday's revelation that TikTok has overtaken Facebook as the most downloaded app of 2020. It seems cat videos and homemade bread recipes have become less hip than a short clip of someone skateboarding and sipping cranberry juice while listening to Fleetwood Mac's "Dreams."

This flip-flop at the top of the app ladder was just a matter of time as the new generation turns away from their parents' and grandparents' social media platform. But it is a bit of a surprise that TikTok was on the verge of being banned in the US, where it has 100 million users, just months ago.

FIND OUT HOW TIKTOK ROSE TO THE TOP AGAINST FACEBOOK