WHAT YOU NEED TO KNOW
- Stock futures edged slightly higher Thursday as jobless claims dropped to 281,000 to another pandemic low last week after a Wednesday filled with choppy trading. Despite nearly doubling Wall Street’s earnings expectations and slightly beating revenue projections for the third quarter, Ford Motor’s net income of $1.83 billion still fell 23% when compared to a year ago. General Motors’ profit dropped 40% to $2.4 billion, signaling the toll the global computer chip shortage had on third-quarter profits.
- The affordable, easily accessible antidepressant drug fluvoxamine might be the next weapon in the fight against COVID-19. Just under 11% of patients given the antidepressant twice a day for 10 days were hospitalized or needed emergency medical care when compared to almost 16% of those given a placebo in a trial of about 1,500 patients, according to a Brazilian study. The results could open the door to new guidelines for the drug’s use globally.
- Study: Common antidepressant guards against COVID hospitalization – Axios
- Merck agrees to let other drug makers make its COVID pill – Associated Press
- @BenMazer: Perhaps it’s lost its splendor, but—vaccines aside—it’s a truly remarkable feat that in such a short time we’ve both repurposed drugs to treat Covid (fluvoxamine, dexamethasone) and developed new antivirals (molnupiravir). Do people know how rare this is?
- President Joe Biden will announce a revised framework Thursday for his social spending plan that is expected to gain support of all Democrats. Democrats are attempting to rewrite the U.S. tax code in just days as they search for the revenue needed to pay for the sprawling spending bill after already abandoning plans to include a paid-leave program in the bill, according to people familiar with the talks.
- Democrats trim Biden’s social spending plan as they rush to strike a deal this week – CNBC
- Biden expected to attend House Democrats’ meeting, signaling a deal on spending bill is imminent – CNBC
- @RonWyden: There are two tax codes in America. One that’s mandatory for workers and one that’s voluntary for billionaires. We have a historic opportunity with the Billionaires Income Tax to restore fairness to our tax code. I’m all in to get it done.
- Although Biden is pushing for a clean energy transition to counter the effects of climate change, his ambitious goals could be upended by dated equipment that makes it hard for homeowners and businesses to use solar panels, electric cars and other devices that can help reduce greenhouse gas emissions. The White House hopes the package of clean energy strategies on Biden’s big domestic policy bill could reach similar greenhouse gas emission reduction goals as an initial proposal.
- There’s No Cheap Way to Deal With the Climate Crisis – ProPublica
- @RepGregoryMeeks: I’ve seen how bottom-up pressure can yield significant progress for a clean energy transition. Creating a global climate revolution takes public pressure & involvement, starting from community-based, climate-friendly practices – at schools, businesses, and places of work.
- @ShellenbergerMD: For the last half decade, renewable energy lobbyists have claimed that electricity from solar & wind is *already* cheaper than existing electricity. Now, Congress is about to give solar & wind industries another $238 billion in subsidies. Fascinating.
- As the pandemic reaches a second year, the future of work model continues to morph as many companies embrace a hybrid work model. Start-ups are betting workers will still desire an occasional office space closer to home for a distraction-free environment. In the New York City metropolitan area, co-working spaces are increasingly targeting the plethora of office workers who live in the suburbs, underscoring the uncertain future of the office sector’s role as an economic engine.
“New insights on cybersecurity in the age of hybrid work” – Microsoft / Source: Microsoft security research
- Turbine Labs has tracked 23,796 media articles and blogs and 15,893 social media posts over the last 24 hours.
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