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The Biden administration is hailing the new infrastructure bill for funding roads, bridges, ports and rails, but there’s also some for Mother Nature. |
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Infrastructure bill holds funding to combat climate change The big-ticket items included in President Joe Biden’s bipartisan $1.2 trillion infrastructure bill are the most popular ones with Americans – billions to build and repair roads, bridges, airports and railways, and even funding to expand broadband internet. But lesser-known provisions provide support to mitigate the effect of climate change, including $21 billion to clean up some of the nation’s biggest environmental hazards. OK, so it’s not the sweeping reforms that Democrats hope to push through in the social spending package. But it’s a start, which is more than the nation has done to address environmental issues in decades. FIND OUT HOW THE BILL TAKES AIM AT CLIMATE CHANGE
Retail spending increases 1.7% despite inflation concerns Americans aren't going to let a little thing like inflation keep them from having a happy holiday season. Despite the record inflation numbers, Americans spent 1.7% more in retail shopping in October and intend to spend more during the holiday season. That's a 16.3% increase from this time last year, signaling that the pandemic spending woes may be over even if the pandemic isn't. Analysts expect even bigger numbers through the end of the year, fueled by increased Thanksgiving travel and Christmas shopping FIND OUT HOW AMERICANS ARE SPENDING THEIR MONEY
Inflation exacting a heavy toll on export, import prices The import and export industries are not immune to the recent rise in inflation. International trade is experiencing the impact of inflation on the U.S. and global economies as the prices for American imports and exports rose more than 1% in October. That might not seem so bad compared to the latest figures of 6.2% CPI and 8.6% PPI on the domestic side, but the 1.2% bump in import prices and the 1.5% jump in exports are the biggest increases since May. Supply chain issues aren't helping matters. SEE THE TOLL INFLATION TAKES ON IMPORTS, EXPORTS
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Markets
| DJIA | 36,142.22 | 0.15% |
| S&P 500 | 4,700.90 | 0.39% |
| Nasdaq Composite | 15,973.86 | 0.76% |
| Japan: Nikkei 225 | 29,688.33 | -0.40% |
| UK: FTSE 100 | 7,301.42 | -0.35% |
| Crude Oil Futures | 79.86 | -1.11% |
| Gold Futures | 1,862.60 | 0.46% |
| Yen | 114.83 | 0.01% |
| Euro | 1.13 | -0.09% | | * As of market close |
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JP Morgan sues Tesla in $162M stock spat
The news keeps getting worse for Tesla CEO Elon Musk. One week after selling off millions in company stock, and one day after Tesla lost its $1 trillion valuation, things just kept raining on Musk’s parade when JPMorgan revealed it is suing his electric car company for $162 million. JP Morgan claims in the lawsuit that Tesla, as part of its initial financial deal, was obligated to pay the bank if its stock reached a certain level – and did it ever? Tesla was $4.92 a share a decade ago and closed Tuesday at $1,054. Now, if Musk could just build a time machine. FIND OUT THE LEGAL BASIS FOR THE LAWSUIT AGAINST TELSA
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Pfizer's pill plan targets half the world
Much has been made of the effectiveness of COVID-19 vaccines, which in less than a year have helped gain some leverage against the deadly virus. But when the next generation performs an autopsy on how the war was won, the new Pfizer pill could garner most of the credit for finally snapping the pandemic spell on a global scale. Pfizer and the U.N. signed a global licensing agreement Tuesday to provide production and distribution to poorer nations where vaccines and the manpower to administer them are in short supply. Billed as nearly 90% effective against hospitalization and serious infection, the Pfizer pill may be the best medicine to put an end to the pandemic. SEE PFIZER'S PLAN TO PROVIDE PILLS TO HALF THE WORLD
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Mayor facing 50 counts for revenge porn
He's being called "Mayor McSleaze," and rightfully so if he is guilty of the 50 charges he is facing for distributing revenge porn. Andrew Bradshaw, the mayor of Cambridge, Md., finds himself on the other side of the law after allegedly posting nude images of his ex on Reddit. Not exactly very mayor-like, but the victim claims Bradshaw was the lone recipient of the nude photos and pornographic videos.He faces multiple years in prison if he is found guilty, and probably won't get to keep the keys to the city much longer even if he makes a plea deal. FIND OUT WHAT THE VICTIM HAD TO SAY ABOUT THE MAYOR
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Car deals
Tesla went public in 2010 as the first U.S. carmaker to IPO on the stock market in over a half-century. Name the previous automaker and year. Tuesday's answer: The record for the world's largest pumpkin pie was set at the 2010 New Bremen (Ohio) Pumpkinfest. The massive pie measured 20 feet in diameter and weighed a whopping 3,699 pounds.
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Starting Fast Start
There's no better way to start your day than by waking up with Fast Start, except perhaps sharing it with friends. Spread the word by forwarding today's copy to your crew and tell them to let us know you sent them. HERE'S THE EMAIL ADDRESS YOUR FRIENDS WILL NEED
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