Here are the headlines you Need2Know for Wednesday, May 26, 2021:
COVID-19: VAX MILESTONE
As of today, the majority of adults in America are fully vaccinated, as cases continue to decline to levels not seen since last spring. Moderna says its vaccine is 100 percent effective in teenagers, the second approved vaccine to show even better results in younger people than it does in adults. Moderna plans to start the process of seeking FDA approval for teens next month. The CDC is going to stop investigating most “breakthrough cases” in vaccinated people, unless they become so sick they need to be hospitalized. There have been about 10,000 breakthrough cases reported among the more than 100 million people who are fully vaccinated. NY TIMES
ISRAEL-GAZA
Sec. of State Blinken has been traversing the Middle East to shore up the truce between Israel and Hamas, which has been holding since it was declared nearly a week ago. Blinken announced that the U.S. will reopen its consulate in Jerusalem, restoring some diplomatic ties with Palestinians that were downgraded by the previous administration. He also invited the Israeli president to the White House to meet with President Biden. The U.S. is planning to work with the UN to deliver humanitarian aid to Gaza while also bypassing Hamas. AP
BIDEN-PUTIN SUMMIT
President Biden will meet with Russian President Vladimir Putin in Switzerland next month, the first time the two leaders will sit down in person. The summit, scheduled for June 16 in Geneva, is expected to focus on issues of nuclear proliferation but Biden is also likely to bring up other issues, such as Putin’s treatment of Alexei Navalny and the recent surge in cyberattacks against American interests. CNN
TRUMP GRAND JURY
The Manhattan DA has reportedly impaneled a grand jury that will eventually decide whether to indict former President Trump, his business associates, and/or the Trump Organization. The development suggests that prosecutors think they have evidence of a crime. Special grand juries like these can sit for months before issuing indictments, or deciding not to indict. Trump called the news “purely political” and “a continuation of the greatest Witch Hunt in American History.” WASH POST
HOUSING MARKET
The housing market is still on fire pretty much everywhere, but there are signs that it’s starting to cool -- if for no other reason than there just aren’t enough houses to buy. Home prices in March grew more than 13 percent from a year earlier, the highest rate since late 2005. Meanwhile, the median price of a new home sold in April was up 20 percent from a year earlier, to about $375,000. Prices for existing homes are up similarly. But at the same time, existing-home sales have been declining for three straight months due to lack of inventory and the sky-high prices scaring many buyers off, especially younger first-time buyers. WSJ
AMAZON ANTITRUST
Washington D.C. is suing Amazon for abusing its market power in what is believed to be the first time a government in the U.S. has brought an antitrust suit against the company. D.C. is accusing Amazon of using price agreements with third-party sellers to box out competitors, thus raising prices for consumers. Until 2019, Amazon had a policy of prohibiting sellers from offering their products on any other online site for a lower price. The company has since axed that rule, but can still “impose sanctions” for doing the same thing. WIRED
NBA PLAYOFFS
The Nets and Mavericks both went up 2-0 in their series, while LeBron James and the Lakers evened it up against the Suns, who are playing with a badly injured Chris Paul. Tonight’s Game 2 triple header: Wizards-Sixers, Hawks-Knicks and Jazz-Grizzlies. CBS SPORTS
FIERI RE-UPS
Guy Fieri has signed a contract extension with Food Network that will pay him an eye-popping $80 million over three years. The deal makes the “Mayor of Flavortown” one of TV’s highest paid hosts. Fieri’s flagship show, Diners, Drive-Ins and Dives is a money-printing machine; it brought in $230 million for Food Network in 2020. Fieri has been busy the last year, raising $25 million for restaurant workers laid off during the pandemic. CELEB NET WORTH
SPOTTED...
...Tiger Woods, seen on crutches in a rare public outing as he recovers from a car crash, posing with a fan battling cancer: SEE PIC
… John Cena, apologizing to China, in Chinese, for calling Taiwan a country during the promotional tour for the new Fast & Furious movie. The actor joins a long list of celebrities forced to publicly apologize for crossing China, which considers Taiwan a breakaway province: WATCH
LEFTOVERS: BAD BEHAVIOR
With summer around the corner, the government is warning Americans to behave as they start to get out and travel again. The head of Homeland Security held a press conference to emphasize that the mask mandate is still in effect for airplanes, airports and all public transportation. Airlines have reported a spike in so-called “unruly passenger” incidents lately, with the majority involving people refusing to wear their masks. The FAA says of the 2,500 instances of unruly behavior this year, 1,900 of them were over masks. BLOOMBERG
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