VOL. 45 | NO. 27 | Friday, July 2, 2021
REAL ESTATE
WASHINGTON (AP) — Mortgage rates declined this week, with the key 30-year loan slipping back below the 3% mark as the economic recovery from the pandemic recession remains robust.
NEWSMAKERS
N. Courtney Hollins has joined Baker Donelson as a shareholder in the firm’s Nashville office and a member of the Real Estate Practice Group.
BRIEFS
The Nissan Foundation has announced it is awarding $697,000 in grants to 28 nonprofit organizations for its 2021 grant cycle at metro areas where Nissan has an operational presence. Eight Nashville area agencies will benefit.
BEHIND THE WHEEL
If last summer was all about hunkering down, staying safe and social distancing, 2021’s sunshine season will see us reconnecting with friends and getting back out into the world. What better way to embark on new adventures than in a convertible?
PERSONAL FINANCE
A midyear financial review is often a good idea. This year, it’s almost essential.
CAREER CORNER
Are you feeling happy, or is something missing? If you’ve been thinking of making a change, this could be the perfect time. For many people, the pandemic has forced them to reevaluate what they want.
MILLENNIAL MONEY
As the COVID-19 vaccination era makes it safer to travel, many people who stayed home during pandemic shutdowns are vacationing again. Airport checkpoint numbers have increased about 20% from January through mid-June compared with the same time frame in 2020, the Transportation Security Administration reports.
NASHVILLE AREA
NASHVILLE (AP) — Nashville officials are inviting the public to celebrate and remember civil rights icon John Lewis in an upcoming dedication ceremony.
COURTS
WASHINGTON (AP) — Former President Donald Trump has filed suit against three of the country's biggest tech companies, claiming he and other conservatives have been wrongfully censored.
NASHVILLE (AP) — A Tennessee health lab owner has been charged with orchestrating a fake Medicare billing scheme, a federal prosecutor announced.
AUTO INDUSTRY
TOKYO (AP) — Nissan Chief Executive Makoto Uchida told a Japanese court on Wednesday that the company's former chairman, Carlos Ghosn, had held too much power, failed to listen to others, and stayed on for too long.
MEDIA
The streaming service Peacock is ramping up its offerings with a new deal with Universal Filmed Entertainment Group.
TECHNOLOGY
WASHINGTON (AP) — President Joe Biden said Tuesday that damage to U.S. businesses in the biggest ransomware attack on record appears minimal, though information remained incomplete. The company whose software was exploited said fewer than 1,500 businesses worldwide appeared compromised but cybersecurity experts caution that the incident isn't over.
NATIONAL/INTERNATIONAL BUSINESS
Stocks are closing higher Wednesday, led by gains in Apple, Oracle and other tech companies.
WASHINGTON (AP) — Federal Reserve officials began discussing at their meeting last month the mechanics of reducing their huge monthly bond purchases that are used to keep longer-term interest rates in check.
NEW YORK (AP) — Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce. However, if after two years Gates and French Gates decide they cannot continue in their roles, French Gates will resign her positions as co-chair and trustee, The Bill and Gates Melinda Foundation announced Wednesday.
WASHINGTON (AP) — U.S. employers posted a record-high number of open jobs for the second straight month as a rapidly rebounding economy generates intense demand for workers.
NEW YORK (AP) — Alina Clark is about as tired of her pandemic wardrobe as her comfort clothes are stretched and torn.
President Joe Biden plans to sign an executive order that will reduce the ability of employers to prevent workers from going to rival firms and remove some of the state occupational licensing requirements that make it harder to land a job.
BEIJING (AP) — Companies including internet giants Alibaba and Tencent were fined Wednesday by anti-monopoly regulators in a new move to tighten control over their fast-developing industries.
ISMAILIA, Egypt (AP) — Suez Canal authorities announced Wednesday the release of a hulking shipping vessel that blocked the crucial east-west waterway for nearly a week earlier this year.
NATIONAL/INTERNATIONAL POLITICS
WASHINGTON (AP) — President Joe Biden is turning his focus to pitching his proposed investments in families and education, using a visit to a community college in a key Illinois swing district to highlight how his spending on so-called human infrastructure would boost the economy.
TUESDAY, JULY 6
TOURISM
NASHVILLE (AP) — Tennessee officials are offering 10,000 travelers a $250 flight voucher for four airports in the state if they book certain hotel packages.
STATEWIDE
NASHVILLE (AP) — Three fire lookout towers were among seven Tennessee properties recently named to the National Register of Historic Places, officials said.
TECHNOLOGY
WASHINGTON (AP) — The Pentagon said Tuesday it canceled a disputed cloud-computing contract with Microsoft that could eventually have been worth $10 billion. It will instead pursue a deal with both Microsoft and Amazon and possibly other cloud service providers.
The company whose software was exploited in the biggest ransomware attack on record said Tuesday that so far it appears fewer than 1,500 businesses were compromised. But cybersecurity experts suspect the estimate is low and note that victims are still being identified.
AUTO INDUSTRY
LONDON (AP) — Vauxhall's parent company announced Tuesday that it will invest 100 million pounds ($138 million) to make electric vans and cars at its factory in northwestern England.
VIRUS OUTBREAK
WASHINGTON — President Joe Biden says the rise of a more transmissible COVID-19 variant in the U.S. "should cause everybody to think twice."
TOKYO (AP) — The pressure of hosting an Olympics during a still-active pandemic is beginning to show in Japan.
NATIONAL/INTERNATIONAL BUSINESS
Stocks are closing mostly lower Tuesday, with the S&P 500 posting its first decline after seven consecutive gains.
WASHINGTON (AP) — The owners of restaurants, amusement parks and retail shops, many of them desperate for workers, are sounding an unusual note of gratitude this summer:
SILVER SPRING, Md. (AP) — Growth in the services sector, where most Americans work, slowed in June following record expansion in May.
OMAHA, Neb. (AP) — The Biden administration plans to issue a new rule to protect the rights of farmers who raise cows, chickens and hogs against the country's largest meat processors as part of a plan to encourage more competition in the agriculture sector.
NATIONAL/INTERNATIONAL POLITICS
WASHINGTON (AP) — In a crucial moment for Democrats, party leaders are hunting for a sweet spot that would satisfy their rival moderate and progressive wings on legislation to finance President Joe Biden's multitrillion-dollar agenda of bolstering the economy and helping families.
WASHINGTON (AP) — More than for her shock of purple hair or unpredictable votes, Democratic Sen. Kyrsten Sinema is perhaps best known for doing the unthinkable in Washington: She spends time on the Republican side of the aisle.
MONDAY, JULY 5
SPORTS
CHICAGO (AP) — The United States' first home World Cup qualifier, against Canada on Sept. 5, will be at Nissan Stadium in Nashville.
NASHVILLE AREA
NASHVILLE (AP) — Officials are investigating why a large fireworks show in Tennessee started while some police officers were still in the blast zone.
COURTS
WASHINGTON (AP) — As the 20th anniversary of the Sept. 11 terrorist attacks approaches, victims' relatives are pressing the courts to answer what they see as lingering questions about the Saudi government's role in the attacks.
AUTO INDUSTRY
ZAGREB, Croatia (AP) — Croatia's electric supercar maker, which started in a garage a decade ago, is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros.
TRANSPORTATION
This summer is already shaping up to be a difficult one for air travelers.
VIRUS OUTBREAK
WASHINGTON (AP) — Calling a vaccination "the most patriotic thing you can do," President Joe Biden on Sunday mixed the nation's birthday party with a celebration of freedom from the worst of the pandemic. He tempered the strides against COVID-19 with a warning that the fight against the virus wasn't over.
NATIONAL/INTERNATIONAL BUSINESS
DUBAI, United Arab Emirates (AP) — Talks among members of the OPEC cartel and allied oil producing countries broke off Monday in the midst of a standoff with the United Arab Emirates over production levels.
NEW YORK (AP) — Amazon founder Jeff Bezos stepped down as CEO on Monday, handing over the reins as the company navigates the challenges of a world fighting to emerge from the coronavirus pandemic.
WASHINGTON (AP) — As America's job market rebounds this summer and the need for workers intensifies, employers won't likely have a chance to relax anytime soon. Worker shortages will likely persist for years after the fast-reopening economy shakes off its growing pains.
CAIRO (AP) — The Suez Canal Authority on Sunday said it has reached an agreement to settle a financial dispute with the owners of a hulking container ship that blocked the crucial waterway for nearly a week earlier this year.
HONG KONG (AP) — Chinese regulators have clamped down on the country's largest ride-hailing app, Didi Global Inc., days after its shares began trading in New York. Authorities told Didi to stop new registrations and ordered its app removed from China's app stores pending a cybersecurity review. The government said it was acting to prevent security risks and protect the public interest. Didi is the latest company to face intensified scrutiny in a crackdown on some of China's biggest technology giants.
NATIONAL/INTERNATIONAL POLITICS
WASHINGTON (AP) — Climate activists and their Democratic allies in Congress are pressing with renewed urgency for huge investments to slow global warming, after a bipartisan infrastructure plan cut out some of President Joe Biden's key climate initiatives.
WASHINGTON (AP) — As it has been for nearly 16 months, longer than any time in the nation's history, the U.S. Capitol is closed to most public visitors.
FRIDAY, JULY 2
REGION
NASHVILLE (AP) — The nation's largest public utility is looking at shutting down three of its five remaining coal-fired power plants, saying they are old and no longer practical. But despite President Joe Biden's goal of a carbon-pollution-free energy sector by 2035, the Tennessee Valley Authority, an independent federal agency, is considering replacing the lost megawatts from coal with another carbon-producing fuel — natural gas.
STATE GOVERNMENT
Tennessee's first-of-its-kind law that requires businesses and government facilities to post signs if they let transgender people use multiperson public bathrooms of their choice has been hit with another legal challenge.
COURTS
DES MOINES, Iowa (AP) — A federal appeals court on Friday threw out a Trump-era Environmental Protection Agency rule change that allowed for the sale of a 15% ethanol gasoline blend in the summer months.
NEW YORK (AP) — Companies give perks to their employees all the time. Many top executives at Fortune 500 companies have access to a corporate jet for personal use, a company apartment, or an expense account for fancy meals. Even lower-level employees regularly get access to perks like tuition reimbursement or cash to join a gym.
NASHVILLE (AP) — The mother of a Black man fatally shot by a white former Nashville officer sobbed, screamed and knocked over a courtroom lectern Friday as she begged a judge not to accept a plea deal she says was struck in secret without her knowledge, a chaotic scene that briefly delayed the hearing before the judge accepted the agreement.
WASHINGTON (AP) — The Supreme Court on Friday declined to take up the case of a florist who refused to provide services for a same-sex wedding, leaving in place a decision that she broke state anti-discrimination laws.
WASHINGTON (AP) — An unusually agreeable Supreme Court term ended with conservative-driven decisions on voting rights and charitable-donor disclosures that offered a glimpse of what the coming years of the right's dominance could look like for the nation's highest court.
WASHINGTON (AP) — The Justice Department is halting federal executions after a historic use of capital punishment by the Trump administration, which carried out 13 executions in six months.
MIDSTATE
SPRINGFIELD (AP) — Gov. Bill Lee announced Wednesday that an automotive parts manufacturer will expand its operations in Robertson County, creating nearly 100 jobs.
AUTO INDUSTRY
DETROIT (AP) — Tesla says it delivered 201,250 electric vehicles in the second quarter as it overcame a global computer chip shortage that has hit nearly every automaker.
U.S. consumers continued to spend wildly on new automobiles in the second quarter, pushing sales up 50.2% over last year despite tight dealer inventories and record high prices.
TOKYO (AP) — The trial in Tokyo of two Americans charged with helping Nissan's former chairman, Carlos Ghosn, flee Japan wrapped up Friday with prosecutors seeking prison terms of more than two years for each of them.
TRANSPORTATION
The Transportation Department will propose that airlines be required to refund fees on checked baggage if the bags aren't delivered to passengers quickly enough.
VIRUS OUTBREAK
BEIJING (AP) — As the World Health Organization draws up plans for the next phase of its probe of how the coronavirus pandemic started, an increasing number of scientists say the U.N. agency it isn't up to the task and shouldn't be the one to investigate.
NATIONAL/INTERNATIONAL BUSINESS
Wall Street capped a milestone-shattering week Friday with stock indexes hitting more record highs as investors welcomed a report showing the nation's job market was even stronger last month than expected.
WASHINGTON (AP) — In an encouraging burst of hiring, America's employers added 850,000 jobs in June, well above the average of the previous three months and a sign that companies may be having an easier time finding enough workers to fill open jobs.
WASHINGTON (AP) — The U.S. trade deficit widened in May as $71.2 billion as a small increase in exports was offset by a bigger rise in imports.
A broad swathe of countries have agreed on a major overhaul of how they tax the world's biggest companies when they do business across borders.
Investors, it turns out, were in the mood for donuts.
NATIONAL/INTERNATIONAL POLITICS
WASHINGTON (AP) — President Joe Biden called for bipartisan action on a pathway to citizenship for some migrants during a naturalization ceremony Friday at the White House in which he celebrated the contributions immigrants have made to the U.S.
WASHINGTON (AP) — The Biden administration on Friday hit 22 senior Myanmar officials and family members with sanctions over the government's crackdown on democracy protests after the coup. The action was accompanied by the removal of sanctions on three Iranian industrial executives whom the Trump administration penalized for supporting Iran's ballistic missile program.
WASHINGTON (AP) — Congressional Democrats are facing renewed pressure to pass legislation that would protect voting rights after a Supreme Court ruling made it harder to challenge Republican efforts to limit ballot access in many states.
WASHINGTON (AP) — House Speaker Nancy Pelosi is acting swiftly to launch a new investigation of the violent Jan. 6 attack on the U.S. Capitol, choosing a diverse slate of eight lawmakers — one from the opposing party — to serve on a select committee with subpoena power.
THURSDAY, JULY 1
PREDATORS
LOS ANGELES (AP) — The Los Angeles Kings have acquired forward Viktor Arvidsson from Nashville in exchange for two draft picks.
VANDERBILT SPORTS
OMAHA, Neb. (AP) — Mississippi State's first national championship had been building since 1985, when "Thunder and Lightning" — Will Clark and Rafael Palmeiro — were the stars on what's known as the best team to not win a College World Series.
NASHVILLE AREA
NASHVILLE (AP) — Transportation officials will briefly shut down a section of the interstate in Nashville with a view of the July 4 fireworks to prevent onlookers from putting themselves in danger.
TOURISM
GATLINBURG (AP) — A new National Park Service report found visitors to Great Smoky Mountains National Park spent more than $1 billion in the surrounding communities last year, according to a news release from the park.
COURTS
NEW YORK (AP) — Donald Trump's company and its longtime finance chief were charged Thursday in what prosecutors called a "sweeping and audacious" tax fraud scheme in which the executive collected more than $1.7 million in off-the-books compensation, including apartment rent, car payments and school tuition.
WASHINGTON (AP) — Flexing its new strength, the Supreme Court's conservative majority on Thursday cut back on a landmark voting rights law in a decision likely to help Republican states fight challenges to voting restrictions they've put in place following last year's elections.
WASHINGTON (AP) — The Supreme Court on Thursday ordered California to stop collecting the names and addresses of top donors to charities.
HEALTH CARE
WASHINGTON (AP) — The Biden administration on Thursday began putting in place consumer protections against "surprise" medical bills enacted in bipartisan legislation signed last year by former President Donald Trump.
WASHINGTON (AP) — When a controversial Alzheimer's drug won U.S. approval, surprise over the decision quickly turned to shock at how long it might take to find out if it really works — nine years.
REAL ESTATE
WASHINGTON (AP) — U.S. construction spending fell 0.3% in May. Growth in housing, the economy's standout performer, slowed while activity in areas most directly impacted by the pandemic showed further weakness.
TECHNOLOGY
Last May, as Twitter was testing warning labels for false and misleading tweets, it tried out the word "disputed" with a small focus group. It didn't go over well.
WASHINGTON (AP) — U.S. and British agencies disclosed on Thursday details of "brute force" methods they say have been used by Russian intelligence to try to break into the cloud services of hundreds of government agencies, energy companies and other organizations.
AUTO INDUSTRY
LONDON (AP) — Japanese carmaker Nissan and its partners plan to invest 1 billion ($1.4 billion) pounds to expand production of electric vehicles and batteries in northeast England, a major victory for the U.K. government's efforts to attract jobs and investment following the country's departure from the European Union.
DETROIT (AP) — When Rory Gamble took over as president of the United Auto Workers in 2019, the union was embroiled in a federal corruption probe that had ensnared two of Gamble's predecessors. It had just endured a 40-day strike against General Motors. And then the viral pandemic erupted, forcing auto plants to halt production and idle its workers for weeks until safety precautions were adopted.
ENVIRONMENT
NEW YORK (AP) — Amazon said Wednesday that its carbon footprint grew 19% last year as it rushed to deliver a surge of online orders during the pandemic.
MEDIA
NEW YORK (AP) — For the first time in 2020, the newspaper industry earned more money from circulation than advertising.
VIRUS OUTBREAK
WASHINGTON (AP) — President Joe Biden came up well short on his goal of delivering 80 million doses of coronavirus vaccine to the rest of the world by the end of June as a host of logistical and regulatory hurdles slowed the pace of U.S. vaccine diplomacy.
MOSCOW (AP) — Russian health authorities on Thursday launched booster vaccination for those who had been sick with COVID-19 or immunized more than six months ago, an effort that comes amid a surge in new infections and deaths.
NAIROBI, Kenya (AP) — The African Union special envoy tasked with leading efforts to procure COVID-19 vaccines for the continent is blasting Europe as Africa struggles amid a crushing third surge of infections, saying Thursday that "not one dose, not one vial, has left a European factory for Africa."
NATIONAL/INTERNATIONAL BUSINESS
Stocks finished broadly higher on Wall Street Thursday, adding to the gains that helped the market close out its best first half of a year since the dotcom bubble.
The Congressional Budget Office says that the federal budget deficit will again hit $3 trillion this year, $745 billion more than its estimate five months ago, as it takes into account the cost of President Joe Biden's $1.9 trillion coronavirus rescue plan.
WASHINGTON (AP) — With the economy growing rapidly as it reopens from the pandemic, many employers are becoming desperate to hire. Yet the evidence suggests that as a group, the unemployed aren't feeling much urgency to find work.
ARLINGTON, Va. (AP) — First, Amazon embraced the banana stand. Now it's embracing the banana seat.
FRANKFURT, Germany (AP) — Some 130 countries have agreed on a global minimum tax backed by U.S. President Joe Biden as part of a worldwide effort to keep multinational firms from dodging taxes by shifting their profits to countries with low rates.
SILVER SPRING, Md. (AP) — Growth in U.S. manufacturing slowed slightly in June, as supply chain problems persist and businesses say they are still struggling to find workers.
NEW YORK (AP) — Everyone would like to get paid more, but the worry on Wall Street is there could be too much of a good thing.
Doughnut chain Krispy Kreme is expected to start trading on the Nasdaq on Thursday, but it might be off to a bit of a lackluster start.
WASHINGTON (AP) — The number of Americans applying for unemployment aid fell again last week to the lowest level since the pandemic struck last year, further evidence that the job market and the broader economy are rebounding rapidly from the coronavirus recession.
WASHINGTON (AP) — The Biden administration is preparing an executive order to improve opportunities for consumers and small businesses by stepping up oversight of areas of the economy that are dominated by a select few companies, such as meatpacking and internet service providers.
STOCKHOLM (AP) — Low-cost fashion brand Hennes & Mauritz AB said Thursday its profit for the second quarter soared by 10 billion kronor ($1.2 billion) to 3.6 billion kronor ($422 million) as many of its stores opened worldwide.
LONDON (AP) — In another blow to Britain's retail sector, American clothing company Gap said that it will close all of its stores in the U.K. by the end of the year as it moves its business exclusively online.
NATIONAL/INTERNATIONAL POLITICS
WASHINGTON (AP) — President Joe Biden has filled about 56% of his senior White House staff positions with women, including about 36% who come from racially and-or ethnically diverse backgrounds, according the White House.
WASHINGTON (AP) — The Democratic-led House approved a sizable $715 billion transportation bill Thursday, a potential investment in roads, rail, public transit and water over five years that could serve as a marker in the negotiations over a bipartisan infrastructure package.
WASHINGTON (AP) — The Biden administration on Thursday designated 17 countries as not doing enough to combat human trafficking and warned them of potential U.S. sanctions. The administration also called out several U.S. allies and friends, including Israel, New Zealand, Norway, Portugal and Turkey, for backsliding in their efforts.
WASHINGTON (AP) — House Speaker Nancy Pelosi has named House Homeland Security Chairman Bennie Thompson as the head of a new select committee to investigate the Jan. 6 insurrection at the Capitol. She also picked Republican Rep. Liz Cheney as a member.
WASHINGTON (AP) — Sharply split along party lines, the House launched a new investigation of the Jan. 6 Capitol insurrection on Wednesday, approving a special committee to probe the violent attack as police officers who were injured fighting Donald Trump's supporters watched from the gallery above.
WASHINGTON (AP) — President Joe Biden signed three separate laws Wednesday that dismantle part of the Trump era, blocking payday lenders from avoiding caps on interest rates, restricting climate-warming greenhouse gas emissions from oil and gas drilling and ending rules on how the Equal Employment Opportunity Commission settles claims.
WASHINGTON (AP) — Calling Donald H. Rumsfeld energetic was like calling the Pacific wide. When others would rest, he would run. While others sat, he stood. But try as he might, at the pinnacle of his career as defense secretary he could not outmaneuver the ruinous politics of the Iraq war.