Current Events

by Grace Becker

 

current events update

published August 24, 2020

  • Germany, Italy, and France clocked in their highest coronavirus case numbers since the Spring. This is a result of European countries opening their borders and the tradition of Europeans frequenting the countries around them. Germany estimates 40% of the new cases were from Germans returning from travel, Italy estimates 30%. However, European leaders are weighing the consequences of returning to strict quarantine with the economic recovery spurred by opening borders (Washington Post).

  • On a lighter note, movie theaters in the U.S. are starting to reopen. While only 1,400 out of 6000 are reopening, it’s a sign that industries like that of theaters which took a 5 month hiatus are adapting to the times (CNBC).

  • In late April, Facebook left drilling equipment as well as 6, 500 gallons of drilling fluid below the seafloor off the coast of Oregon. Facebook failed to notify state officials until mid-June. Oregon is now in negotiations with Facebook over preventing the negative environmental impacts of abandoning the tools and fluid (The Verge).

  • Chinese-owned TikTok will sue the U.S. government over Trump’s actions to remove access to TikTok from Americans, Trump deeming TikTok a security threat. TikTok, however, has responded to the executive order arguing that it cannot be abused by the Chinese government to gain intel on Americans. According to the executive order, and despite suing the U.S. government, ByteDance (TikTok owner) must still sell domain over U.S. TikTok to another party, namely Microsoft, Oracle, or Twitter (The Verge). 

  • NoTraffic, a California startup, started implementing traffic management systems in Arizona. The system tracks cars, buses, bikes, even skateboards through intersections to monitor traffic highs and lows. The system aims to adjust light changes to traffic flow and even accommodate emergency vehicles when they need a clear intersection. Testing NoTraffic’s project demonstrates cities’ willingness to adapt current protocols to be more case-sensitive through the use of AI (artificial intelligence) (ZDNet).

 

current events summary

published August 11, 2020

  • NY Attorney General Letitia James has filed a lawsuit against the National Rifle Association (NRA) following an 18-month investigation. The lawsuit accuses CEO Wayne LaPierre, General Counsel John Frazer, and former executives of using the association to fund illegal self-dealings (NBC).

  • As the U.S. continues to endure cases and commuters wary of traveling far from home, Uber is seeking alternatives given the 73% annual drop revealed in their Q2 earnings for their main rideshare business. UberEats bookings rose 113% in the previous quarter. Uber is now acquiring Post Mates which will give Uber a 37% stake in the U.S. food delivery sector (CNBC).

  • North, an indie agency in Portland, Oregon has developed a creative response to the crippling effects of the pandemic on local businesses. North has offered free space on small billboards throughout Portland to local businesses. Additionally, ad tech company Billups offered free digital billboards to the cause (Ads of the World).

 

current news update

published July 27, 2020

  • As company branding is increasingly viewed online by consumers, brands have started updating their logos to be more compatible with a 2D medium. One example being Nissan which has switched to a flat, all black logo featuring more spaced out letters. (Ad Age)

  • The pandemic has caused a shortage of loose change. In other words, as consumers quarantined and businesses stopped accepting cash to avoid the virus, the circulation of cash halted. Now, businesses like laundromats are struggling. Walmart has introduced some checkouts that are card-only while retailers like Kroger are encouraging customers to load change onto gift cards. (SF Chronicle)

    • On a different side, Starbucks has updated its rewards program to reward customers for making use of contactless and credit card payments (CNBC)

  • In Tesla’s most recent earnings report, Tesla revealed itself as a new member of the S&P 500. Tesla’s market valuation came in at a steep $295 million. (WSJ)

  • It’s safe to say the pandemic has been lethal to the restaurant industry with many consumers still fearful of eating out. Since March 1, 26,000 restaurants have closed, of that number, over 60% have not reopened and never will. (Business Insider)

  • Walmart, CVS, and Target have formed a coalition to end their use of plastic bags. However the three retail dominants aren’t sourcing the innovation in-house, rather leading a global competition where entrepreneurs can present their eco-friendly ideas. This movement stems from the negative impact of plastic bags and consumers’ demand for sustainable practices from brands. Kroger and Walgreens are supporting the coalition as well. (Fast Company)

  • Curator/owner of Muse Originals OBX in Outer Banks, Ami Mill, has developed a creative way to continue her local art gallery despite the impact of the pandemic. With her landlord planning to sell the building that houses her gallery and fears of committing to a lease elsewhere, she sought a more mobile alternative. Hill converted an old school bus into a mobile gallery. She saved her business and now drives the gallery around parking at restaurants and local hot spots. (The Outer Banks Voice)

 

Quick news summary

published July 13, 2020

  • North Carolina, Oregon, Arkansas, Hawaii and Alaska recorded coronavirus case single-day highs.

  • Disney World and SeaWorld reopened despite spikes in coronavirus cases.

  • The Supreme Court concluded a major ruling: much of eastern Oklahoma had long been a reservation of the Muscogee (Creek) Nation.

  • TikTok introduced a self-serve ad platform that features campaign set-up tools, ad groups, targeting options, budget and schedule setters.

    • TikTok is also donating $100M in ad credits to small to medium sized businesses to help them promote themselves.

  • According to digitalmediasolutions.com, 41% of consumers are ready for ads to move on from topics regarding COVID19.

  • Brooks Brothers and Lucky Brand have joined the list of brands (Neiman Marcus, JCPenney and J.Crew) to file for bankruptcy amid the pandemic.

  • The U.S.’ biggest exchange cryptocurrency, Coinbase, is preparing to go public.

  • Newbalance partnered up with ZAK to create a YouTube docu series on soccer subcultures. 

  • Dr. Martens has unveiled a new collaboration line with renowned street artist Jean-Michel Basquiat. This new collaboration adds to the list of brand projects with Basquiat’s estate, namely Supreme, Uniqlo and the Brant Foundation.

  • New fears of the environmental impact of disposable items related to the pandemic have been confirmed. Ocean clean-up groups have found gloves and masks on beaches and in the water. French nonprofit Operation Mer Propre has discovered gloves and masks in the Mediterranean Sea. It is estimated that world consumption of vinyl gloves will reach 330 billion pieces in 2020.

    • Food for thought: According to the American Chemistry Council, 343 new plastic production plants and expansions are currently permitted or planned in the country.

 

Current Events update

published June 29, 2020

·       Kanye West announced a 10-year contract with Gap which gives the brand nods from Kanye fans and Kanye an opportunity to bring his typically expensive and scarce product lines to the masses.

·       Facebook and Twitter are facing ad-bans signed by several companies (Patagonia, Unilever, Verizon, REI, The North Face, etc.) that call on the brands to address their policies/handling of hate speech and misinformation.

·       Shares of Facebook and Twitter consequently dropped.

·       With states and counties entering new phases and a variance in Americans respecting social distancing, spikes in new cases have arisen. States hard-hit by new cases like Texas and Florida had to re-close bars and make more specifications for restaurants.

·       Infections nationwide have risen 65% over the past 2 weeks.

·       As of June 27th, the National Women’s Soccer League (NWSL) has returned with a month-long tournament in Utah.

·       Liverpool FC won the English Premier League title on Thursday, their first top-flight title since 1990. If you would like a taste of their infamous fan base, watch the clip linked below. At every match played at Anfield, Liverpool FC sings “You’ll Never Walk Alone” by Gerry and the Pacemakers.

·       https://www.youtube.com/watch?v=weec_jzudc8

·       L’Oréal announced it will stop using terms such as “white” and “fair” in descriptions of its cosmetics.

·       Unilever also announced it would rename its skin-lightening cream Fair & Lovely and remove terms such as “fair” and “whitening” from additional products.

·       Starting July 1st, American Airlines intends to start booking planes to capacity.

·       In other news: Chuck E. Cheese filed for bankruptcy last week.

·       LeBron James and business partner Maverick Carter have founded a new media company, SpringHill, with $100 million in investments already. James and Carter intend to use their company to empower people of color to tell their stories. The company already has deals with Disney and Netflix.

·       According to a congressional watchdog (Government Accountability Office (GAO)), $1.4 billion in stimulus checks went out to over a million dead Americans. This was partially a result of the Treasury’s Bureau of the Fiscal Service’s lack of access to the Social Security Administration’s death records.

·       Amazon acquired the naming rights to the premier hockey/basketball arena in Seattle, WA and intends to rename it the Climate Pledge Arena. Amazon has introduced plans to make the arena significantly more sustainable, one example being the repurposing of rainwater for the hockey ice.

 

Current Events Summary

published June 15, 2020

Retail Brew: Retailers held accountable on social media

Link: https://www.instagram.com/diet_prada/?utm_source=morning_brew

Recap: Social media was once an avenue for brands to deliver new product reveals and promote sales, this is no longer the case. A more recent culture of user-generated call-out of brands employs social media to highlight brands’ failures regarding racism, equality, harassment, among other things. One example, Diet Prada (@diet_prada) is a well-known watchdog for the fashion industry who has recently called out Reformation and Ferragamo. This new wave has concrete results to convince brands of its importance: Reformation CEO Yael Aflalo and VP of Wholesale Elana Rosenblatt stepped down, Ban.do creative director/founder Jen Gotch stepped down, brands like Zimmermann have issued public apologies with a promise to reevaluate workplace practices.

Washington Post: “Dow slides more than 1,800 points on fears of coronavirus resurgence, more economic pain.”

Link: https://www.washingtonpost.com/business/2020/06/11/markets-today-fed-coronavirus/

Recap: Consumers are still fearful of the recurring negative impacts of the coronavirus on the market and businesses’ ability to stay afloat. While consumers are gradually spending more money as businesses introduce phase 1-2 of re-entering normality, the looming threat of another economic shut down leaves many warry. The Dow Jones dropped 6.9% on June 11th as investors realized the possibility of more economic downfalls related to a rise in cases. Essentially, fears of more economic repercussions coupled with high unemployment makes for a hesitant stock market

CNN: “Banksy shares new artwork supporting Black Lives Matter and says it's on white people to fix systemic racism.”

Link: https://www.cnn.com/style/article/banksy-black-lives-matter-style-trnd/index.html

Recap: Infamously anonymous artist Banksy has commented on the BLM movement with another art piece. His comment on the matter: “People of Colour are being failed by the system. The white system. Like a broken pipe flooding the apartment of the people living downstairs. The faulty system is making their life a misery, but it's not their job to fix it.” The art piece is available on Banksy’s Instagram (@banksy).