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Hi there,
Here's what we're watching in business and tech news this week:
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Amazon, Apple, Facebook, and Alphabet report earnings this week, ahead of their antitrust hearing on Wednesday. With Microsoft, these tech giants comprise more than a fifth of the S&P 500, making their results critical to the overall performance of the index. (Check out how big tech is betting on enterprise communication amid the pandemic here.) Other major names to keep an eye out for include: Pfizer, Boeing, Qualcomm, and Colgate-Palmolive.
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Senators will convene tomorrow to discuss and propose reforms to Section 230, which has granted broad protections to tech cos from being held accountable for what their users post. The law, which declares that forum operators are not publishers, has drawn much controversy across party lines, amid growing calls for tech platforms to moderate objectionable posts or hate speech on their platforms.
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The additional $600 in emergency unemployment benefits expires this week. Lawmakers are continuing to debate over another coronavirus relief package, which may include another $1,200 check, continued (but reduced) emergency unemployment aid, and at least $100B more in Paycheck Protection Program loans. Clients can see all the investor-backed companies that have received PPP aid here.
- The first official US GDP numbers for Q2’20 will be unveiled Thursday. Economists are forecasting a YoY plunge of up to 35%, as the country was battered by skyrocketing coronavirus cases, growing unemployment, and nationwide lockdowns. We rounded up all the startups, funding trends, and tech solutions to watch amid Covid-19 in this resource page.
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