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President Biden has been applying pressure to both wings of his party to pass a human infrastructure bill, and Democrats are meeting in the middle. |
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Democrats make deep cuts to 'human' infrastructure package Democrats appear to have struck a fair balance between the progressives' push for a $3.5 trillion "human" infrastructure package and the moderates who wanted zero in spending. They appear to be meeting in the middle at somewhere in the ballpark of $1.75 trillion. Dems have been dealing behind closed doors to strike a balance, forcing liberals to make some hard choices about which pet projects to put on the chopping block. So far it seems the child tax credit and free community college are among the items that won't make the cut. President Joe Biden is playing peacekeeper to advance his agenda. FIND OUT WHAT THE DEMS' SLIMMED-DOWN BILL LOOKS LIKE
Tesla turns in impressive Q3 report despite chip shortage Whether you love or hate Elon Musk (and the numbers tend to skew toward the latter), at a certain point you really do have to wonder if everything he touches turns to gold. His electric vehicle maker Tesla turned heads Wednesday with word that its third-quarter profits more than quadrupled despite the ongoing problems plaguing automakers. Tesla posted a record profit of $1.6 billion for the third quarter as revenues surged 57% to $13.8 billion compared to the year-ago. Even more amazingly, the report comes while the auto industry is being crippled by supply chain issues and microchip shortages that have forced others to cut production. It must be a Musk thing. SEE HOW MUSK HAS MANAGED TO TROUBLE-PROOF TESLA
IBT rolls out its inaugural Social Capital Top 100 CEO list All too often in the business world, CEOs are judged strictly by the bottom line. And the pressure to increase profits every quarter can create a dog-eat-dog business environment that doesn't serve the public good. It's a losing business strategy led by a dying breed. But it's those forward-thinking CEOs who put people over short-term gains and foster an environment for their companies, customers, and employees to thrive that IBT salutes as shining examples in leadership. Some of the big names and major companies you will recognize, but many are silently leading by example at small firms. CHECK OUT IBT'S INAUGURAL SOCIAL CAPITAL TOP 100 LIST
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Markets
| DJIA | 35,609.34 | 0.43% |
| S&P 500 | 4,536.19 | 0.37% |
| Nasdaq Composite | 15,121.68 | -0.05% |
| Japan: Nikkei 225 | 28,819.12 | -1.49% |
| UK: FTSE 100 | 7,223.10 | 0.08% |
| Crude Oil Futures | 84.25 | 1.55% |
| Gold Futures | 1,784.50 | -0.02% |
| Yen | 114.06 | -0.23% |
| Euro | 1.17 | 0.00% | | * As of market close |
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Facebook rebranding with name change?
One of the more amusing reports to hit social media on Wednesday was news that Facebook is considering changing the name of its parent company, perhaps in a effort to distance itself from the public relations nightmare the social media giant has experienced in recent weeks. Although Facebook (if that is your real name) denies the report, the move actually makes sense now that acquired apps like Intragram and WhatsApp fall under the Facebook umbrella. But that didn't stop users from weighing in on the conveniently timed branding makeover. The Twitterverse was abuzz with suggestions not fit for print in a family newsletter (wink wink), but here are a few gems -- Faceplant, Zuckistan, That Thing My Mom Loves, and I Can't Believe It's Not Facebook. FIND OUT WHEN MARK ZUCKERBERG WILL MAKE THE BIG REVEAL
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Eight bodies found in search for Laundrie
In the frustrating quest to solve Gabby Petito's murder, authorities have come closer to cracking other missing person's cases. In the course of searching for fugitive Brian Laundrie in South Florida and Petito's remains out West, a total of eight bodies have been discovered. Creepy, right? Even creepier, the latest body was discovered near some personal belongings authorities believe are Laundrie's. Officials found his backpack and notebook near the human remains, which are undergoing DNA testing. It's the hottest lead police have received since the 23-year-old went missing shortly after the strangulation death of his former fiance. FIND OUT HOW MANY MURDERS MAY BE SOLVED AS A RESULT
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Anonymous artist Banksy breaking the bank
So you want to be an artist, but not the starving variety? Just ask Banksy (if the world knew the famous artist's true identity) for advice about how to become a millionaire artist without trying -- or in some cases, trying to fail. Consider Banksy's 2018 painting titled "Girl With Balloon," which was set to bring $5 million at auction. Instead, Banksy shredded the piece and three years later, the renamed and partially torn "Love is in the Bin" went for $25.4 million -- a five-fold increase. To collectors the investment is all about the artwork, but Banksy also has perfected the art of making bank. CHECK OUT A CHART SHOWING BANKSY'S TOP-SELLING PIECES
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Making it rain paint
Banksy's shredded artwork fetched a pretty penny, but nowhere near the world record auction price. What artist's painting holds that distinction? Wednesday's answer: The 1947 Christmas classic movie "Miracle on 34th Street" featured "the real Santa Claus" working at Macy's in New York.
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