Thursday, August 18th, 2022
CDC Overhaul, Supply Chain Hurdles & Historic NBA Contract
All the news you need in about 10 min:
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Story Summaries
All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want to peruse the latest happenings.
CDC Calls for Overhaul
The CDC director, Dr. Rochelle Walensky, says when the nation’s top public health agency had to handle the Covid-19 pandemic, it made a lot of mistakes. For example, she said some of the recommendations were “confusing and overwhelming” and that important data was sometimes released too late. So, she laid out some changes she wants to see. She says the CDC’s websites need to be retooled so public health guidance is clearer and easier to find. Also, she hopes to cut down the time it takes to review studies when results are needed right away, and she spoke about some staffing changes.
Read More: AP, NY Times, NBC News, CNN, Fox News
Fed to Keep Raising Rates
The latest Federal Reserve meeting minutes were released this week. They show that federal officials agreed it would be necessary to keep raising interest rates, but they also said they’ll have to make smaller hikes at some point. As far as how long higher interest rates will last, officials say at least until it’s clear inflation is going down. Now, many traders expect the Fed to raise interest rates by half a percentage point at their meeting next month, as compared to the last two meetings when the Fed went with a historically high three-quarters of a percent hike each time.
Read More: Federal Reserve, Reuters, CBS News, Axios, Forbes
Supply Chain Hurdles
The global supply chain is facing some new hurdles. For starters, there are backups of dozens of container ships off ports in New York, Houston, and Savannah. Industry executives say this time of year tends to be a peak shipping season. Now, there’s more cargo than there is space to store it, equipment to move it, and people to handle it. Also this month, thousands of dockworkers in the UK have decided to strike over pay. Economists say that could have ripple effects throughout the global shipping network. One more issue that could impact the supply chain: a heatwave in China. It has caused Chinese factories to shut down.
Read More: CNBC, WSJ, Politico, CNN
US WWI Shipwreck Found
An American shipwreck that’s been missing for more than a century has finally been uncovered in the UK. A group of expert British divers from the wreckage from the U.S.S. Jacob Jones, the first Navy destroyer sunk by enemy fire. It was hit by a torpedo in 1917 during WWI. The ship is still considered a key asset since it’s responsible for rescuing hundreds of people from other attacked ships before it went down in the same way. The UK divers who found it are now working with the U.S. embassy to decide what to do next.
Read More: NHHC, CBS News, NY Post, Yahoo! News, The Independent
Short Supply of Monkeypox Vax
The company that makes the monkeypox vaccine is taking new steps to try and keep up with demand as the virus multiplies around the world. Bavarian Nordic is the only company with an FDA-approved vaccine for monkeypox, and the shots are only produced at one facility. Now, the company is looking to change that. A company spokesperson told Bloomberg it’s thinking about outsourcing some of its production to meet the current need. The U.S. has received 88% of the monkeypox vaccine deliveries since May when the outbreak first started. Since then, the CDC has reported nearly 14,000 cases in the U.S.
Read More: CDC, WHO, Bloomberg, CBS News, CNBC
Pharmacies Owe $650 Million in Opioid Suit
Three of the largest pharmacy chains in the U.S. have been ordered to pay $650 million. Two Ohio counties sued CVS, Walgreens, and Walmart, saying they created a “public nuisance” with the amount of opioids they distributed. The pharmacy chains’ lawyers argued they had safety policies in place and that the prescriptions came from doctors. Still, a judge sided with the counties. The $650 million will be spread out over 15 years and will go toward fighting the opioid epidemic in those areas. CVS, Walmart, and Walgreens say they plan to appeal.
Read More: NY Times, Axios, Bloomberg, AP
Percocet Maker Files for Bankruptcy
Another company just reached a big settlement over the opioid crisis. Endo International, the company that makes percocet and other opioids, will pay up to $450 million to several states and can never market opioids again. The company was accused of downplaying the addiction risk and overstating the benefits of opioids. Endo is still facing thousands of other lawsuits and filed for bankruptcy this week.
Read More: Fox Business, Reuters, WSJ, CBS News
Airbnb Anti-Party Tool
Airbnb officially banned parties in June. Now, the company says it’s testing what it calls “anti-party” technology. It’s tech that will take a look at a variety of factors to decide if a party is likely to happen. For example, it will look at a renter’s past reviews, length of past trips, and physical distance to a listing. If all signs point to an unauthorized party, Airbnb can block the booking. Still, flagged users will be allowed to rent private rooms instead of entire homes.
Read More: Airbnb, Fast Company, Mashable, CNET, Fox Business
Amazon Testing TikTok-Like App
Amazon is reportedly experimenting with a vertical photo and video feed in its app to show off products to buy and let users share them. The Wall Street Journal and others cite an artificial intelligence firm in Israel that tracked this new feature. Amazon has yet to comment about it, but if the firm is correct, it could make Amazon look more like social media. Already, Amazon products are popular on TikTok and Instagram. Influencers often promote them with customized links that earn them money when you buy.
Read More: WSJ, TechCrunch, AP
LeBron Historic Contract
One of the greatest basketball players of all time will now become the highest-earning NBA player of all time. Lebron James reportedly agreed to a $97.1 million two-year contract extension with the Los Angeles Lakers. That brings his total guaranteed earnings over his career to $532 million. James has played in the NBA for nearly two decades. He is a four-time champion and MVP and 18-time all-star. His son will be eligible for the NBA draft in 2024, and James says he wants to play professionally with his son before he retires.
Read More: ESPN, CNBC, LA Times, CBS Sports, Yahoo!
Thing To Know Thursday: Teacher Shortages
The largest teachers’ union in the U.S. says there’s a shortage of 300,000 teachers across the country, and some states are pulling out all the stops to have enough people to teach their kids. In Alabama, anyone can now teach in the state if they have a license from another state. Florida is recruiting military veterans to serve in the classroom, allowing them to get temporary credentials, even if they have no teaching experience. Louisiana is enticing teens into teaching by offering high school students college credit for education classes. And those are just a few examples of how states are trying to fix the problem..
Read More: WSJ, WSJ, WTVT, Politico