Stimulus Package Unveiled | Leadership Lessons From Political Turmoil | Making Arenas Covid-19 Safe

Plus: CIO’s Digital Priorities For 2021

Good morning.

After another historical day in U.S. history, we look at what business leaders can learn from the events of the past week—scroll down for the big picture analysis. Today, President-elect Joe Biden is due to unveil his much-anticipated stimulus plans—here is what it could mean for markets. We’re also looking at Netflix’s first report on diversity, and at how arenas have changed to make live events Covid-19 safe.

In The News Today

Grim CDC projections forecast a nearly 25% increase in U.S. Covid-19 deaths in the next three weeks. 

Parler has been furnishing the FBI with data on users calling for violent action in Washington D.C., even before the storming of Capitol Hill.

Top Take-Aways

President-Elect Joe Biden is due to present its stimulus plan today, with multiple reports indicating incoming Senate Majority Leader Chuck Schumer aiming for legislation worth more than $1.3 trillion. As Treasury yields soar to their highest levels since the start of the pandemic, here's how more stimulus could affect the stock market.

Following a weeks-long disagreement between Treasury officials and the State Department, Chinese tech giants Alibaba, Tencent, and Baidu, were spared from being blacklisted—nine other firms instead will be off limits for American investors.

Meanwhile, private equity giant The Carlyle Group is seeking to reassure anxious investors: don’t fret about the Federal Reserve raising interest rates just yet—a sudden change of policy is unlikely.

Affirm, a buy-now, pay-later fintech company based in San Francisco, went public on Wednesday at $49 a share. Shares shot up 98%, lifting its market value to an eye-popping $23.6 billion.

Secondhand retail is trending—so much so that online thrift store Poshmark, due to start trading tomorrow, plans to sell 6.6 million shares at $35 to $39 each, valuing the 10-year-old startup at $3.1 billion. 

As local coronavirus guidelines change, more arenas will reopen their doors in the coming months. Sports and music fans can expect renovations geared towards safety, namely a cashless, ticketless and touchless experience—the updates are likely permanent.

Streaming giant Netflix has rewritten the entertainment industry’s economic model. It’s now working to address Hollywood’s historic diversity woes and, in releasing its first inclusion report tracking its diversity gains, shares what it’s learnt so far.

Today's Big Picture

Donald Trump has become the first U.S. president to be impeached twice, after 232 members of the House of Representatives charged him with inciting the violent insurrection on January 6 at the U.S. Capitol. The 10 Republicans who voted against Trump ensured the result was the most bipartisan to date. As the Senate won’t reconvene early to start its impeachment trial, the proceeds will likely take place following the presidential inauguration of Joe Biden on January 20.

With a political scene in turmoil, more people are putting their trust in business leaders, as the results of the 2021 Edelman Trust Barometer released yesterday show. CEOs don’t necessarily have all the answers—like the rest of the public, they too are navigating uncharted territory but they are presented with an opportunity to learn and apply various leadership lessons.

For once, the events of the past week illustrate the duality of loyalty—a trait often described as a quality in an employee but that, if based on unethical motives or foundations, could lead to disruption. They also offer examples of the dangers of mishandling, or underestimating, a crisis situation.

Finally, there’s the question of accountability and consequences. Some tech companies—Snapchat the latest among them—have taken decisions to withdraw their services from President Trump. Others, like New York City, are refusing to do business with Trump entities. Even academic institutions are distancing themselves from Trump and his allies.

In Case You Missed It

Tips You Can Trust

Cover Letters Are Now Essential To Standout To Employers. Here's An Example

10 Easy Ways To Develop Strong Professional Relationships In A Virtual Working World

Across Forbes