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The Nasdaq topped 10,000 for the first time ever, proving that during this period of economic uncertainty, America still has faith in tech stocks like Apple, Facebook, Amazon and Netflix.
Here’s what else you need to know to Get Up to Speed and Out the Door. (You can also get “5 Things You Need to Know Today” delivered to your inbox daily. Sign up here.)
1. Police reform
Was there a quid pro quo or wasn’t there a quid pro quo? That’s one of the biggest questions in this impeachment inquiry, and testimony from Bill Taylor, the top US diplomat in Ukraine, seems to point toward “yes.” Taylor informed House Democrats yesterday that he was told the release of military aid to Ukraine would depend on a pledge to probe the 2016 election and 2020 Democratic presidential candidate Joe Biden. Dems are calling the admission a smoking gun and a “sea change” that may alter the course of the impeachment process and make it even more complicated. For instance, Taylor’s testimony contradicts the claims of Gordon Sondland, the US ambassador to the European Union. Sondland said the President had told him there was no quid pro quo, whereas all Taylor’s testimony was missing was, well, the Latin itself. Some Democrats wondered aloud whether Sondland should return to Capitol Hill for another round of questions. Meantime, Trump referred to the impeachment process to a “lynching,” drawing criticism from both parties.
Democratic leaders say they want to conduct a thorough investigation, but prolonging the probe will continue to consume Washington and could push the whole thing into the presidential election year. That could create serious complications and risks for everyone involved. The public patience for Speaker Nancy Pelosi and other top Dems could run dry, or, on the Republican side, more attention to Trump’s alleged dealings with Ukraine could turn public favor against him.
MONDAY
Today will be the fifth day of a massive teachers strike in Chicago that’s affecting about 300,000 students. The Chicago Teachers Union and city officials are deadlocked and blaming each other for the strike. On one side, the union has asked for smaller class sizes, more support staff and higher raises for all educators. In response, the city has offered some concessions but said it can’t afford to fulfill all the union’s demands. The stalemate is leaving students and their parents searching for alternative ways to spend the school day. Though 25,000 educators are involved in the strike, public school buildings remain opened and staffed by non-union workers. The Chicago Transit Authority is giving free rides to students during the day, and community centers, museums and cultural centers are offering educational programs as a school-day substitute.
3. Election 2020
A murder suspect whose criminal case sparked the massive protests in Hong Kong is free on minor charges. Authorities say Chan Tong-kai, now 20, admitted to killing his girlfriend in 2018 in Taiwan and was later arrested in Hong Kong. But Taiwan and Hong Kong have no extradition agreement, and prosecutors in Hong Kong couldn’t charge Chan with murder, so they charged him with money laundering for alleged thefts linked to the killing. Hong Kong’s leader, Carrie Lam, wanted to plug the extradition “loophole” with Taiwan, but her attempts sparked fear that such a law could be used to drag critics of Beijing across the border to face trial. The protests since have ballooned to include other political grievances and affected everything from NBA teams to the US-China trade war. As for Chan, he’s offered to turn himself in to Taiwanese authorities. Trying to facilitate that exchange would be another political test.
THURSDAY
Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan met yesterday to broker a deal regarding Syria’s civil war. The main focus of the discussion was the border between Turkey and Northern Syria. Under the agreement, there will be a roughly 18-mile “safe zone” on the border, and Kurdish forces will stay south of it, with the Russian military police and Turkish military patrolling the line. Not included in this negotiation? The US. The whole affair made it clear that Turkey and Russia are not interested in including the US in plans regarding Syria’s future. Furthermore, after the recent withdrawal of US troops from the area signaled what many called a betrayal of their Kurdish allies, it appears Russia will be the Kurds’ new powerful protector in the area.
5. Nigeria
Energy giant ExxonMobil is on trial this week for allegedly misleading investors about the potential impact of climate change regulations on its operations. The New York attorney general brought the suit against the company and claims the alleged fraud may have cost investors $1.6 billion. The suit alleges ExxonMobil calculated the cost of regulations that would impact demand for oil and gas, like fuel economy rules and alternative energy subsidies. It then allegedly fudged the figures to misrepresent how carbon regulation would affect investors. Ex-US Secretary of State Rex Tillerson was the CEO of ExxonMobil during the years in question and is expected to testify in the trial.
BREAKFAST BROWSE
The first ‘Star Wars: The Rise of Skywalker’ trailer is here
Because what else are you gonna do with a 910-pound pumpkin?
Tiffany has released an incredibly limited $112,000 advent calendar
For that price, it better come stuffed with several mid-range used vehicles.
This bird could be the loudest in the world, and its call nearly deafens potential mates
Admit it, we all have a friend who is EXACTLY like this bird.
An organization bought billboards to remind people of Election Day. The signs had the wrong date
TODAY’S NUMBER
The payout disgraced WeWork founder Adam Neumann could walk away with as Japanese tech company SoftBank bails out the beleaguered startup
TODAY’S NUMBER
How has the Boeing 737 Max controversy affected the aircraft company’s bottom line? Investors will find out today when Boeing reports its third quarter earnings.
TODAY’S WEATHER
AND FINALLY
Who’s up for a sleigh ride?
This starts out like a normal drone video of Norway’s scenic glaciers, rivers and fjords, but just wait until the overdrive kicks in. (Click here to view.)