Forbes | Daily Dozen
July 21, 2022 ... 7:30 AM
Biden’s Climate Promises | Giuliani’s Grand Jury | Tech Layoffs Surge
Plus: What Another China Lockdown Could Mean For The U.S. Economy
Forbes
President Joe Biden is taking executive action on climate change, funneling billions of dollars into disaster preparedness and harnessing wind energy. A New York Supreme Court judge ordered Rudy Giuliani to testify before a Georgia grand jury next month as part of an investigation into former President Donald Trump’s effort to overturn the 2020 election. European Union nations may embrace a months-long, 15% gas use reduction to offset a potential shortage even as Russia restarts Nord Stream 1, its key gas pipeline to Europe.
Written by Laura Smythe, Staff Writer, Newsletters and Iain Martin, Europe News Editor, Forbes
In The News Today and Top Take-Aways
- President Joe Biden stopped short of declaring a climate emergency and instead pledged to take executive action on climate change, armed with plans of amplifying wind energy development and channeling $2.3 billion toward helping communities build infrastructure and expand flood control to weather environmental disasters.
- The Uvalde schools’ superintendent is pushing for the termination of school District Police Chief Pete Arredondo following extreme criticism of his department’s response to the deadly Texas school shooting at Robb Elementary School. The Uvalde Board of Education will hold a special meeting Saturday morning to decide whether or not to fire Arredondo.
- A New York Supreme Court judge ordered former Trump lawyer Rudy Giuliani to testify before a Fulton County, Ga., grand jury on Aug. 9. that is investigating Trump and his associates’ efforts to overturn the 2020 presidential election results. The grand jury previously subpoenaed Giulani, who failed to appear at a New York hearing challenging that subpoena. The order comes as a bipartisan group of senators introduced two bills aimed at stopping presidential candidates overturning election results.
- Only 8% of companies made a public statement about the Supreme Court’s decision to overturn Roe v. Wade, per a new survey of 274 U.S. companies by nonprofit The Conference Board. That comes as polling shows most Americans want companies to take a stance on abortion. However around 40% of the companies surveyed said they had talked about the ruling with staff.
- Philadelphia-based international delivery startup Gopuff, Tesla, at-home fitness company Tonal, Vimeo and Ohio health software startup Olive join the growing list of tech companies laying off employees in droves amid fears that soaring inflation will trigger a recession. See what other well-known brands are sending workers to the chopping block.
- Wall Street analysts offer mixed opinions on whether Netflix can revive its growth trajectory following the company’s second-quarter earnings report that showed the streaming giant lost 970,000 subscribers versus the 2 million it previously forecasted. Those holding a more bearish outlook cite increased competition from rival streaming services including Amazon and Disney, which can subsidize streaming losses from more lucrative divisions.
- European Union Commission President Ursula von der Leyen slammed Russia for “blackmailing” the continent by potentially prolonging a shut down of the Nord Stream, the biggest gas pipeline to Europe. The trading bloc urged its member states to cut gas use by 15% from August through March as a precaution though Russia today reopened the pipeline.
- Nepal banned making TikToks at religious and historic attractions in the latest global example of content creators getting barred from famed landmarks for disrupting sacred spaces. Given the social media platform’s popularity, destinations will likely need to weigh the impact influencers have on life in local communities with the notoriety and tourist dollars they often bring with them.
Today's Must-Read
Here’s What Another China Lockdown Could Mean For The U.S. Economy
More Covid lockdowns in China would be “another headache” for the Federal Reserve in its battle against inflation, experts say, though global supply-chain bottlenecks are easing.
Read More →
A bill that would codify the right to gay and interracial marriage into federal law
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