Trump Stalls Stimulus | The Must Watch VP Debate | Big Tech Break Up

Good morning.

The back and forth about a
$2.2 trillion stimulus package hit a roadblock as President Trump ordered his aides to halt negotiations on the bill, which had already passed a House vote, until after the election—just hours after Fed chair Jerome Powell urged more government support to fuel the economic recovery.

Among the options of what
may happen next, Trump’s preference is for Congress to break down the package in smaller bills, including support for airlines, new PPP funds, and a new round of $1,200 stimulus checks—only some of the key benefits that would be off the table without an agreement.

Sofia Lotto Persio

Sofia Lotto Persio

Daily Dozen Curator-In-Chief | Twitter

What Else To Know Now

The total wealth held by billionaires around the world has grown by a quarter to over $10 trillion since the pandemic began, according to a new UBS report.

Polls released yesterday show Joe Biden leading by 16 points nationally, and by 12 points in key battleground state Pennsylvania.

Top Take-Aways

As Biden and Trump split over the circumstances of their next presidential debate, vice-president Mike Pence initially rejected a plexiglass divider in tonight’s face-off with Democrat candidate Kamala Harris, before eventually relenting.

Dexamethasome, the steroid drug included in Trump’s Covid treatment, has shown promise in decreasing the risk of death for patients with more severe coronavirus infections. But it’s not without side effects.

What the president is doing is once again patently false, it’s morally wrong and yes, it’s racist.” Former First Lady Michelle Obama issued a passionate rebuke of the Trump presidency and its record on handling several crises, from the pandemic, to the California fires and police brutality.

Since Palantir’s IPO, cofounders Peter Thiel and Alex Karp have sold a combined 41.45 million shares, for more than $400 million—
a big payday for both billionaires, but the story behind the numbers is a little more complicated.

Amazon, Apple, Google and Facebook shares were down on Tuesday anticipating the release of a long-awaited House Judiciary Antitrust Subcommittee report which, as expected, recommended breaking up the tech giants.

Senior officials with the Trump administration unveiled new wage rules related to the H-1B visa program that, they said, were aimed at ending “abuse” of the system and would force employers to prioritize American workers.

Ten days since the conflict in a
contested border zone between Armenia and Azerbaijan reignited, the fighting shows no sign of slowing down, inflicting casualties and destruction upon civilians living in nearby crowded urban communities.

French scientist Emmanuelle Charpentier and U.S. biochemist Jennifer Doudna became the
first two women to share a Nobel Prize in Chemistry for the development of a method for genome editing. Yesterday, three scientists—a Brit, a German and an American—were awarded the Nobel Prize in Physics for their work in discovering black holes.

A small unmanned vessel washed up off a remote Scottish island a week ago—its
owner remains a mystery, but the craft’s configuration suggests it was on a secret mission.

In a sad day for music,
guitar virtuoso Eddie Van Halen died of cancer at 65. The death of another music legend was announced a few hours later—Johnny Nash died at 80, his son confirmed.

The remains of a
luxury Roman villa, hidden for some 2,000 years until it was discovered under a 1950s apartment block in Rome, will open to the public next month. 

Today's Must Read

 
Meet The New Billionaire Who Dropped Out Of High School And Flies Fighter Jets For Fun
 
 
 
Meet The New Billionaire Who Dropped Out Of High School And Flies Fighter Jets For Fun

Thrill seeker Jared Isaacman appears to be using his time to the fullest. He started his first business at 15, a year before dropping out of high school to hawk credit-card terminals out of his parents’ basement. At age 28, he started what would become the world’s largest private air force, Draken International, and then sold it to Blackstone for a nine-figure sum eight years later.

And as of June, the 37-year-old is a billionaire, after taking his restaurant-and hotel-payments firm public.

Read The Full Story →
 

Across Forbes

 
Early Amazon Prime Day Deals You Can Shop Right Now
 
 
 

Forbes Shopping

Early Amazon Prime Day Deals You Can Shop Right Now

While Amazon Prime Day is still one week away, there are a number of great pre-Prime Day deals you can take advantage of right now.

To get the latest Amazon Prime Day deals and updates straight to your inbox, sign up for the Forbes Shopping newsletter. Click here to sign up instantly.

See The Deals →
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Forbes Advisor | Smart Financial Decisions Made Simple
Studies Confirm That Half Of Americans Struggle With Retirement

A new report from EBRI reiterates what financial professionals have been saying for years: The retirement crisis is real, and most Americans are falling short of what they need to save.

Read more →
 
 
 
Why Do Tech Companies Affect The Stock Market So Much?
 
 
 

Money Always Talks

Why Do Tech Companies Affect The Stock Market So Much?
 

Whether you check the stock market every day or only skim the financial headlines, you may have noticed that when big tech stocks like Amazon or Tesla have a change in price, the rest of the market reacts. In this episode of Money Always Talks, Forbes Deputy Editor John Dobosz explains why this happens.

Watch
 
 
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