LOS ANGELES, CA - AUGUST 12: Cars line up at a COVID19 test site at Dodger Stadium on Wednesday, Aug. 12, 2020 in Los Angeles, CA. (Kent Nishimura / Los Angeles Times)
Cars at the drive-through coronavirus testing site at Dodger Stadium on Aug. 12. (Kent Nishimura / Los Angeles Times)

In Monterey County, 26% of the county’s COVID-19 cases are in East Salinas, a largely Latino community of farmworkers, service employees and others living in crowded conditions as they work on the pandemic front lines.

It’s a very different story in the county’s wealthy seaside communities, including Monterey, Carmel and Pacific Grove. Combined, these locales have a population that slightly exceeds that of East Salinas — but they have only about 2% of the county’s coronavirus cases.

In Los Angeles County, Bell, a city that is 93% Latino, has had more than 4 times the number of cases as Manhattan Beach, which has about the same number of residents but is 81% white.

Until last week, these sorts of stark differences would not have stood in the way of a county’s

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Third-quarter earnings season officially kicks off this week with big banks, airlines and consumer-staple firms set to report on Tuesday, and though Wall Street’s eyeing improvements over the previous quarter, a sustained economic recovery is still ultimately contingent on widespread vaccination.

Key Facts

Big banks and airlines–two of the coronavirus pandemic’s worst-hit industries–kick off earnings season on Tuesday, with JPMorgan Chase, Citigroup and Delta Air Lines all set to report before the opening bell.

Expect weak and uneven sales growth, and a collapse in profit margins, to characterize third-quarter results, Goldman Sachs said in a weekend note to clients, adding that it still expects election results will have more

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(Reuters) – Equitrans Midstream Corp ETRN.N said on Monday it will evaluate the cost and timing of the completion of the Mountain Valley natural gas pipeline based on ongoing litigation and upcoming federal approvals.

FILE PHOTO: An aerial view of the under-construction Mountain Valley Pipeline near Blacksburg, Virginia, U.S. September 30, 2019. REUTERS/Charles Mostoller

The U.S. Federal Energy Regulatory Commission (FERC) gave Mountain Valley permission late Friday to resume some construction on its $5.4 billion-$5.7 billion pipeline, which runs from Virginia to West Virginia.

“As the litigation process progresses and as we receive additional information from FERC regarding potentially releasing the remainder of the route for construction, (Mountain Valley) will continue to evaluate its current construction plans, budget, and schedule,” Equitrans said.

Mountain Valley is one of several U.S. oil and gas pipelines delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits

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Frank Slootman, CEO, Snowflake

Source: CNBC

Snowflake’s stock market debut on Wednesday has generated buzz on Wall Street because investors almost never see a company with close to $500 million in annualized revenue that’s still doubling every year. The company raised its IPO price by about 50% in the week before its debut, and demand for the stock sent it soaring more than 100% out of the gate, giving it an early valuation over $60 billion.

Yet one of Snowflake’s biggest growth catalysts is also among its greatest risks.

Snowflake sells a database in the cloud that primarily relies on infrastructure from Amazon Web Services and has committed to spending $1.2 billion on technology from AWS over five years. At the same time, AWS is making heavy engineering and promotional investments in its own competitor, Redshift.

To lessen its reliance on AWS, Snowflake is also using cloud services from Microsoft

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By Cory Booker

Throughout the COVID-19 pandemic, U.S. Postal Service employees here in New Jersey and across the country have continued their vital work, often at great risk to themselves and their families.

I’ve had the privilege to speak with and hear from New Jersey’s postal workers during this crisis, some of whom have lost their colleagues to COVID-19. It is clear to me that while I, and so many others, see the work of our postal workers, and all of our essential workers, as heroic, they see it as their civic duty, a sacred responsibility for which they are willing to risk their health and safety.

But there’s a parallel crisis happening within the USPS: despite allocating billions of dollars to provide a financial lifeline to big corporations during this crisis, Republicans in Washington have refused to provide adequate resources to support the U.S. Postal Service from the financial

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Is Democratic presidential candidate Joe Biden proposing to raise taxes on low- and middle-income households? He emphatically says no. President Trump and his allies say yes, just as emphatically.

So which is it? Well, both Biden and Trump are right, though Biden is more right than Trump. In the end, it depends on what taxes you are talking about.

If you are asking only about individual income and payroll taxes, Biden is right. Nearly all his proposed individual tax increases would be paid by households making $400,000 or more and many of his proposed tax cuts would benefit low- and moderate-income households. Biden insists that he would not raise taxes on anyone making below this threshold.  

TPC has not yet modeled recent revisions

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Michael Loccisano/Getty Images for Food Bank For New York City

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The slow growth, rising indebtedness, and financial bubbles and crises of the past few decades have a common root cause: the skewed distribution of income, which is only being made worse by the pandemic. While many investors have so far been shielded from the consequences, thanks to soaring stock prices and asset valuations, a reckoning is coming.

But it can be avoided if investors remember the insights of business leaders such as Henry Ford and Marriner Eccles, who knew that rising prosperity requires rising wages for all. Counterintuitive as it may seem, investors would benefit from sacrificing some wealth and income today in exchange for higher returns in the future.

The simple reason for this trade-off is that most people spend almost everything they earn on goods, services, interest payments, and other outlays over the course of their

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When President Franklin Roosevelt signed Social Security into law in 1935, federal officials creating the new system needed to sign up more than 26 million workers, and had just 17 months to get the job done. Their solution: post office letter carriers not only delivered Social Security applications, but helped people fill out forms, answered questions about the program, returned the forms to offices where Social Security cards were created — and then got the cards to workers. The entire job took just three weeks, according to Ms. Altman, who writes about the feat in her book “The Battle for Social Security: From FDR’s Vision to Bush’s Gamble.”

“President Roosevelt knew that the post office was an essential, trusted institution, that relying on it was the way to ensure that Social Security would have a successful launch,” Ms. Altman said. “Today, Americans highly value both institutions.”

Nowadays, Social Security sends

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HONG KONG (Reuters) – Hong Kong cut its economic outlook for the year on Friday, saying a recovery from recession depended on how fast it can get a new wave of coronavirus infections under control.

The Chinese territory’s government revised its full year gross domestic product (GDP) forecast to a contraction of 6% to 8% from the earlier estimate of a 4% to 7% contraction.

Its economy shrank 9% in the second quarter, the fourth straight quarter of year-on-year decline for the Asian financial hub. The contraction was in line with advance estimates released by the government and was just a shade better than the 9.1% fall in the preceding quarter.

“Hong Kong’s short-term economic outlook is still highly uncertain,” government economist Andrew Au said in a statement.

“The recent surge of COVID-19 infections and the resultant tightening of social distancing measures, and austere labour market conditions will weigh heavily

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