Facebook on Wednesday confirmed that it is transferring the millions of followers of the official Facebook and Instagram White House accounts to the Biden administration.
Details: The accounts for "@POTUS," "@VicePresident" ("@VP" on Instagram) and "@FLOTUS" are having the followers from their personal Pages and accounts be transferred over. It's unclear when that transition process will be complete.
Michael Pack, a conservative filmmaker who was nominated by Donald Trump to lead the government's foreign media arm, the U.S. Agency for Global Media (USAGM), left the agency Wednesday at the request of President Biden.
Why it matters: Pack's eight-month tenure was filled with controversy. Most recently, he was accused of fraud, as well as misuse of office. Observers and whistleblowers have alleged throughout his tenure that he was abusing his power in an attempt to transform the agency into a pro-Trump propaganda arm.
Trade groups representing private equity and venture capital firms have joined the trend of pausing political donations, in the wake of Jan. 6.
Driving the news: The American Investment Council has suspended political contributions from its PAC to all political candidates for an undetermined length of time.
President Trump's outgoing antitrust chief Makan Delrahim on Tuesday endorsed a proposal from House Democrats that would put new limits on acquisitions by large companies, during comments made at a Duke University event.
Why it matters: Momentum is building for major antitrust reform, updating rules that were written for railroads instead of routers.
President-elect Joe Biden is calling to raise the federal minimum wage to $15 an hour, which is nearly double the current $7.25. The move would be the first change to the federal minimum wage since 2009.
Why it matters: The pandemic exposed the ugly ways in which America treats low-wage employees — even when they're doing essential jobs. Raising the federal minimum wage would put more money into the pockets of many of these same essential workers who have been on the front lines throughout the pandemic.
Work-wherever is now mature enough that startups are popping up to serve the digital nomads — those who are hopping around from city to city or country to country as they telework.
What's happening: Leases are getting shorter and countries are experimenting with remote work visas as the pandemic upends the way we live.
Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.
What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.
U.S. stock markets hit record highs during President Trump's time in office, but mostly underperformed his predecessor.
By the numbers: The stock market selloff that followed the outbreak of the coronavirus pandemic wiped out three and a half years' worth of market gains for Trump. As of March 23, 2020, the S&P 500 had lost 1.5% since Trump's first day in office.
The big picture: So much of our society — from after-school child care programs to the most coveted time slots for television shows — is structured around working from 9 to 5. But our countrywide experiment in remote work has demonstrated that the hours we are logged on don't matter as long as the work gets done.
As part of his Day One executive actions, President-elect Biden will ask the Centers for Disease Control and Prevention to "immediately" extend the federal eviction moratorium until the end of March and ask other federal agencies to extend foreclosure moratoriums on federally-backed mortgages.
Why it matters: The coronavirus pandemic has thrown millions of people out of work and resulted in many unable to pay their rent or mortgages. The moratorium was scheduled to expire on Jan. 31. As the deadline approached, the Urban Institute warned of a "looming evictions cliff" as renters reported they would be unable to make payments.
President-elect Biden will issue an executive order on Wednesday to rescind permits for the controversial Keystone XL pipeline as one of his first acts on his first day in office.
Why it matters: The move is a major development in a longtime fight over a controversial pipeline that began under the Obama administration. It reverses some of President Trump's own first actions aimed at advancing the project upon taking office in 2017.
As part of his day one executive actions, President-elect Biden on Wednesday will ask the Department of Education to extend federal student loan relief, hoping to pause payments and interest accrual until at least Sept. 30.
Why it matters: The relief, in place since March due to the coronavirus pandemic, is set to expire Jan. 31 . The measures, which also include expanding forgiveness and income-based repayment programs, have helped tens of millions of borrowers handle the financial strain brought on by the public health crisis.
The days leading up to and including Inauguration Day typicallygenerate $31.4 million in additional sales for D.C. businesses — but not this year.
Why it matters: Washington's economy is already suffering from pandemic-induced closures, and could very much use the revelry and tourist dollars that Inauguration Day brings — instead of the large bills that will pile up if there's further mayhemor if visitors continue to stay away.
In the last hours of his presidency, President Trump granted a full pardon to Anthony Levandowski, the engineer at the center of a 2017 lawsuit between Google's self-driving car unit and Uber over alleged theft of trade secrets.
Why it matters: The case made headlines as a bitter legal battle between two of Silicon Valley's best-known companies in the race to build self-driving cars.
Retailers including Bed Bath & Beyond, Kohl's and Wayfair have stopped selling My Pillow products after Trump-supporting CEO Mike Lindell pushed baseless claims of voter fraud in the 2020 presidential election.
Driving the news: Lindell told NBC News Tuesday the retailers phoned him to say they could face "a boycott" if they didn't take the action. But Bed Bath & Beyond and Kohl's have both said the decision was related to a lack of demand for My Pillow's products.
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