Good morning. Remember when Macaulay Culkin freaked us all out when he announced he was 40? Well he's 41 today .
Also a good time to remind you that a Home Alone reboot is coming to Disney+ on November 12, the sixth (and hopefully final) installment in the series.
— Jamie Wilde, Neal Freyman, Matty Merritt
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Nasdaq
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15,041.86
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S&P
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4,496.19
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Dow
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35,405.50
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Bitcoin
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$48,794.99
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10-Year
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1.349%
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Dick's
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$129.60
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*Stock data as of market close, cryptocurrency data as of 6:00pm ET.
Here's what these numbers mean.
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Markets: Stocks continued their winning ways and the S&P briefly ticked above that beautiful but mostly meaningless round number of 4,500. Dick’s stock popped after saying that many people who picked up new fitness routines during quarantine...actually kept them up this spring.
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Covid: Johnson & Johnson gave a boost to its booster prospects, saying that a second shot eight months after the original increased people’s immunity to Covid-19. Pfizer also reported positive booster data as it seeks regulatory approval for the third shot.
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McDonald’s can’t make milkshakes in the UK, and it’s not because the machines are broken. It simply ran out.
The bigger picture: The UK is facing historic shortages across the board due to supply chain snags that are hitting the country harder than the White Queen clobbered Ron. A sampling:
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Iconic halal chicken joint Nando’s is feeling less cheeky after closing about 50 restaurants because of poultry shortages.
- Supermarket chain Sainsbury's and other grocers are struggling to keep shelves stocked.
- Gas station pumps are running dry, compounding supply chain issues.
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One procurement industry leader told the BBC he’s seeing the “worst shortages of staff and materials on record.”
These shortages are exacerbated by one broken cog in the supply chain: a lack of truck—err, lorry—drivers.
And while driver shortages are a problem in many countries, the UK’s are due to a more unusual set of circumstances than just “the pandemic.” The two main causes:
1. Brexit: Roughly 20,000 truck drivers originally from the EU left the UK after Brexit tightened up the country’s borders, an industry policy director told CNN. Those border restrictions have also made drivers wary of transporting goods from neighboring countries.
2. The “pingdemic”: If you think HR pinging you on a Friday afternoon is scary, imagine receiving this…
That’s what the UK’s official Test and Trace app sends people if they come into close contact with someone who’s tested positive for Covid-19. Ignoring the message and heading to the pub or your lorry-driving job is illegal and can result in a fine ranging from £1,000–£10,000 (roughly $1,400 to $14,000).
- In the week of July 8–14, about 620,000 people across England and Wales received messages from the app telling them to self-isolate for ten days, per the UK’s National Health Association.
Looking ahead...the UK government threw a plaster on its problem last Thursday, announcing that fully vaccinated workers would be exempt from the ping’s instructions. But the damage has been done, and the shortages are already taking a significant toll on the country's economic rebound. – JW
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The airline is slapping a $200 monthly surcharge on the health insurance premiums of unvaccinated employees starting Nov. 1.
It comes down to “financial risk,” CEO Ed Bastian said. All Delta employees who’ve been hospitalized due to Covid were not fully vaccinated, and the average Covid-related hospitalization has cost the company about $50,000/person, Bastian said.
This unprecedented move by Delta came two days after the FDA gave full approval for Pfizer’s Covid-19 vaccine. And while the airline isn’t mandating vaccinations, it’s making life frustrating for employees who are unwilling to get the shot.
Big picture: Airlines aren’t following the same playbook for vaccination policies.
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United is mandating vaccinations of its employees within five weeks of the vaccine’s full approval.
- American Airlines, on the other hand, has said it will not require vaccinations.
- Spirit’s decision has been canceled.
Zoom out: The aviation industry has a clear business interest in stamping out Covid. American Airlines warned yesterday that August revenue could be lower than expected, joining other carriers like Southwest that said the Delta-fueled wave was slowing demand for air travel. – NF
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After its shocking announcement last week that it would ban sexually explicit content, OnlyFans flipped faster than any cast member of Selling Sunset when faced with confrontation. Yesterday, the adult entertainment platform reversed that policy change after facing backlash for abandoning the sex workers who helped build the platform into a media behemoth.
The no-background: Founder and CEO Tim Stokely blamed pressure from banks for the initial ban, and specifically called out Bank of New York Mellon, Metro Bank, and JPMorgan Chase for creating obstacles to paying its adult creators the $300+ million they earn every month.
OnlyFans hasn’t said whether its relationship with banks has changed, but the problems it’s facing are nothing new in the adult entertainment industry. Last year, Mastercard and Visa banned the use of their cards on Pornhub, an adult video hosting site that we’ve never heard of until right now.
Looking ahead...for creators dependent on a single site for income, the back and forth was a wake up call that they may need to diversify their distribution channels. – MM
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SPONSORED BY THE MOTLEY FOOL
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And look at this guy in the photo. He’s wearing a two-piece suit and there’s money (money!) falling all around him.
How did he get there? Well, we can’t say for certain, but we have a hunch it has something to do with the stock aficionados at The Motley Fool. They just released 5 stocks that they think are screaming (in a good way) for investors to buy them.
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Learn more today.
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Stat: Alphabet’s drone delivery arm, Wing, has delivered 10,000 cups of coffee, 1,700 snack packs, and 1,200 roasted chickens to customers in Logan, Australia. Wing, which has been operating in Australia since 2019, said it expects to make its 100,000th delivery in the next few days.
Quote: “The rising usage of smartphones, tablets, computers, and other devices has contributed significantly to increased vision correction needs and consistent new customer growth within the eyewear market.”
The eyewear seller Warby Parker said that WFH has screwed up our eyes so badly that it’s been great for business. The direct-to-consumer pioneer filed to go public on Tuesday.
Read: Roger Federer’s biggest legacy might be his billion-dollar brand. (NYT Magazine)
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Michael S. Schwartz/Getty Images
Joe Rogan shook up the podcasting world when he brought his megapopular show exclusively to Spotify in a deal worth a reported $100 million.
How’s that going for him? Could be better, according to an investigation by The Verge. Using secondary metrics, like how much of a promotional boost Rogan gave his guests, The Verge found that Rogan’s influence has diminished since he went to frolic in Spotify’s walled garden.
Some of the evidence:
- Before the Spotify move, Rogan’s smaller guests could expect to add 4,000 Twitter followers/week after appearing on the show. Since he went to Spotify, that number has dropped to 2,000.
- Rogan’s YouTube channel, which used to post full pod episodes but hasn’t since the switch, is growing more slowly.
- Google searches for Rogan are down this year from 2020.
Big picture: As scientists would say, there are numerous confounding variables that could help explain a dip in enthusiasm for the podcast. But as Spotify tries to bring on more high-profile podcasts to its platform (like it just did with Call Her Daddy), podcasters might increasingly question whether Spotify’s $$$ is worth limiting their exposure on other platforms. – NF
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State and local governments have only distributed 11% of the $46.5 billion in rental assistance that was authorized by Congress, the Treasury Dept. said yesterday.
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NY Gov. Kathy Hochul added nearly 12,000 Covid-19 deaths to state records that hadn’t been reported publicly by predecessor Andrew Cuomo.
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Good Morning America’s former top producer, Michael Corn, was sued by an ABC News staffer for sexual assault and presiding over a toxic workplace.
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The Caldor Fire is bearing down on Lake Tahoe, raining ash on visitors and residents.
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Marketing companies aren’t on the same page over the complex topic of education requirements for jobs.
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A very important question: Marvel character or font?
This is too real: How we all experience the internet today.
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Brew Mini: This puzzle is a work of art.
Three Headlines and a Lie
Three of these news headlines are real and one is faker than a compliment for a bucket hat. Can you guess the odd one out?
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Eggo just launched its first meatless chicken and waffles
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Nirvana sued by baby from Nevermind album artwork for child pornography
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Tony Hawk's blood is being used in $500 limited-edition skateboards
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Feral cats responsible for more paused baseball games than storms in Chicago
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The feral cats one was a product of our imagination
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