Mike Allen asks Rep. Issa (CA-49) and Rep. Clarke (NY-09) about their Congrssional Caucus on Smart Cities, which they launched earlier this month. Photo: Chuck Kennedy for Axios
On Thursday, Mike Allen discussed the future of smart cities in the era of 5G—the next phase in super-fast networks. We learned the various roles the public and private sector play in embracing this new technology and how the current infrastructure bill relates to smart cities.
We heard from:
Ms. Diane Hoskins, FAIA, NCARB/Co-CEO, Gensler
T.H. Catherine Cortez Masto, U.S. Senator, Nevada
T.H. Darrell Issa, Representative (CA-49), U.S. House of Representatives
T.H. Yvette Clarke, Representative (NY-09), U.S. House of Representatives
Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.
Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tubervillewill now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.
Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarterfor loans that may go bad.
Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.