SEC Charges Ex-Wells Fargo Executives | Covid-19 Vaccine Competition | SpaceX Sends Astronauts To ISS

Plus: How To Make A Billion Dollars From A Junkyard

Good morning.

As news coming from Moderna today shows, the race for a Covid-19 vaccine remains very much open, with more Pfizer and BioNTech’s competitors due to report data in the coming weeks. We also look at the state of the streaming wars, and profile a 70-year-old innovator giving pet owners a new leash on life.

In The News Today

U.K. Prime Minister Boris Johnson, who was hospitalized with Covid-19 in April, is self-isolating after coming into contact with someone who tested positive for coronavirus.

SpaceX has successfully launched its second crewed mission for NASA, sending four astronauts on a six-month journey to the International Space Station (ISS).

Top Take-Aways

A year since launching its streaming service, Disney has already surpassed a milestone it expected to achieve in 2024. Where does this leave its competitors? Here’s the state of the streaming wars, following Disney’s latest results.

With streaming services battling for lucrative content, cherished intellectual property is more valuable than ever—which is why, nearly 30 years after his death, Dr. Seuss earned an estimated $33 million before taxes this year, up from just $9.5 million five years ago.

The SEC charged two former Wells Fargo executives, including a past CEO and Chairman, for allegedly misleading investors about the success of the bank's largest business segment.

The 2020 U.S. presidential election attracted a record number of bets, but ongoing contention over the result means gambling books aren’t settling bets yet. Bettors and bookies, and some nine-figure handles, are left in limbo.

Pfizer and BioNTech pulled ahead in the race to develop a Covid-19 vaccine, but the lead may be short-lived as competitors, whose vaccines may be easier to transport or administer, are gearing up to report data in the coming weeks—Moderna just did so.

As coronavirus cases surge across the U.S. and new stay-at-home orders threaten further damage to an already fragile economic recovery, millions of Americans risk losing these crucial federal benefits if Congress can’t come to agreement on a new stimulus bill.

The Internal Revenue Service (IRS) continues to take steps forward in an effort to protect taxpayer data. Here’s how the latest changes affect what is visible on the new tax transcript. 

Ken Solinsky is using his tech expertise to build a smarter canine enclosure using GPS. “If we make a few bucks, great,” the 70-year-old innovator says. “But if we enhance the lives of pets and pet owners, that would be a nice thing to be able to do.”

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Jabil, one of the country’s giant contract manufacturers, alleges that Texas-based startup Essentium and a group of its own former employees stole trade secrets related to its efforts to develop high-speed 3D printing technology, known as TenX. It promises to be a fascinating court case. 

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