The 2021 Cadillac Escalade is by far GM's best, boasting a stunning interior and impressive features that are worthy of a flagship luxury SUV.
The big picture: The Escalade, now in its fifth-generation, has long been popular with athletes and celebrities. But the 2021 model steps up its luxury game, big-time.
The electric vehicle era, barely underway, could soon be stifled by a shortage of batteries and raw materials that will require significant investments in U.S. manufacturing, mining and recycling.
Why it matters: President-elect Joe Biden has made vehicle electrification a core element of his energy and economic policy. But the U.S. is far behind in the global battery race, creating a potential supply chain bottleneck that could slow EV adoption for the next decade.
Sen. Joe Manchin (D-W.V.) told the Washington Post Friday that he would "absolutely not" support passing a round of $2,000 stimulus checks as a first priority, a key component of President-elect Joe Biden's economic revival plans.
The latest: A spokesperson clarified Manchin's comments after the Post story published Friday, saying the senator is not drawing a red line against $2,000 checks — only that it should be the first priority, as Senate Democratic Leader Chuck Schumer has stated.
Families of the people who died in Wednesday's attack on the Capitol — and others who were there — will have a hard time filing suit or recovering damages from the federal government.
Why it matters: That's because the government is self-insured, and thus largely protected from such claims. Normally, a public disturbance of the size and scale seen this week might trigger lawsuits, but that might prove difficult in this case.
More than 1 million Americans filed for unemployment benefits for the first time last week, even as new applications for the Pandemic Unemployment Assistance program fell to their lowest level since March.
State of play: The $900 billion stimulus bill passed by Congress at the end of December extended the PUA program through at least March but also added a new verification process that forces applicants to reapply in order to reduce fraud.
SoFi, a San Francisco-based personal finance company, agreed to go public via a reverse merger with a blank-check company called Social Capital Hedosophia Holdings Corp. V at an $8.65 billion valuation.
Why it matters: This crowns SCH's Chamath Palihapitiya as the king of tech unicorn SPACs, following earlier deals for Virgin Galactic and Opendoor.
Hyundai is in preliminary talks with Apple about the tech giant's mysterious plan to develop self-driving electric cars, per reports in CNBC and Bloomberg.
Driving the news: "We understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided," a Hyundai rep tells CNBC.
Some cities and towns in Massachusetts — like Cambridge, Worcester, Salem and North Adams — are turning barren public spaces into popular destinations as part of a broader campaign to promote "winter placemaking" among cold-weather cities.
The big picture: These places and others are whipping up fun public installations — like fire pits, outdoor markets and light displays — aimed at coaxing people outdoors and shopping locally in the era of COVID-19.
Although the national eviction moratorium was extended through January — thanks to the passage of the latest big stimulus — renters aren't breathing easy, according to the Urban Institute’s Coronavirus Tracking Survey.
Why it matters: Once the latest reprieve is over, renters will likely be in the same predicament as they were in September when the moratorium took effect — and the nation will face what the Urban Institute calls a "looming evictions cliff."
Remember the grungy escalators at New York's Pennsylvania Station that bear you down to the even-grungier plaza where you can catch trains from Amtrak and the Long Island Railroad? They're still there.
Yes, but: So is this splendid new way to reach those trains. The Daniel Patrick Moynihan Train Hall opened Jan. 1, the culmination of three years' construction, $1.6 billion, and decades of Sturm und Drang over the endlessly flagellated decision in the 1960s to knock down the original Penn Station.
Los Angeles, Seattle, San Francisco and other cities are canceling or postponing their "point in time" censuses of unsheltered homeless people — which typically take place on a single night in late January — saying the pandemic makes it unsafe for all involved.
Why it matters: Empirically, the number of homeless people has swelled because of COVID-19, and the annual or biennial tally is a way to hold public officials accountable.
Roku announced Friday that it is acquiring the rights to stream all of Quibi’s library of 75 original shows to its more than 50 million users.
Why it matters: The deal is part of a broader effort by Roku to offer free content that the platform believes will help attract and retain subscribers.
Cruise is turning to a former Delta Air Lines' executive to begin the rollout of its self-driving taxi business.
Why it matters: Gil West, who retired as Delta's chief operating officer last year at age 59, will become COO at Cruise as it shifts from research and development to commercialization of autonomous vehicles. He'll report to CEO Dan Ammann.
The U.S. economy shed 140,000 jobs in December, while the unemployment rate held at6.7%, the government said on Friday.
Why it matters: The job market recovery that had been underway for the past seven months ended last month, buckling from the pressure of the coronavirus pandemic.
U.S. 30-year fixed mortgage rates hit another record low this week, falling to 2.65%, data released Thursday by Freddie Mac showed, but Americans are starting to worry that the goldilocks environment for home sales could be coming to an end.
What's happening: The decline in mortgage rates to the lowest in the 50-year history of the data has helped keep costs down for prospective buyers even as overall prices have skyrocketed thanks to a flood of demand and declining supply.
Year-end data from the U.S. and around the world show a consistent theme — steadily increasing prices.
Driving the news: The Food and Agriculture Organization’s food price index rose for the seventh straight month in December, rising to its highest in six years.
Stephen A. Smith is the face of ESPN. Can he be the face of ESPN+, too?
Driving the news: Smith will debut a new weeknight series on ESPN+ starting Monday. Unlike the debate shows he's known for, this will have more of a late-night feel, with A-list guests and a variety of original segments.
Bitcoin reached $40,000 on Thursday, doubling the elusive $20,000 all-time high first set in late 2017.
Why it matters: Deep-pocketed institutional investors have driven the bull run this time, with everyone from Anthony Scaramucci’s SkyBridge Capital to MassMutual fueling the original cryptocurrency's recent price surge.
BTC doubled in less than 30 days - after taking three years to hit the prior high on Dec. 16, 2020 - even as political chaos climaxed in Washington, D.C., this week.
Yes, but: The run-up has people wondering if a crash is imminent. Commodity trader Peter Brandt tweeted Thursday that bitcoin's price action has started going parabolic.
Even if technical indicators show the market is “overbought,” historically bitcoin can continue in this phase longer than most traders expect, making it anyone’s guess when the top will come.
What to watch: Of course, we live in unprecedented times of political uncertainty in the U.S. Bitcoin is viewed by some as chaos insurance. If there were a clock that counted down the time remaining for the dollar to serve as the world’s reserve currency, Wednesday on Capitol Hill may have taken several minutes off it.
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