Week InReview
Friday | Apr 9, 2021
Gym rat quandary.
Illustration: Ben Konkol/WSJ
For a fraction of the price of a premier gym membership or an in-person private trainer, new apps let the homebound schedule personalized, one-on-one coaching at convenient times.

But as we start to head back to the gym, are these remote trainers effective enough to replace weekly sessions with real-life coaches for good?

— The Wall Street Journal
let's recap...
Photo: Shutterstock
President Joe Biden plans to direct his administration to develop a strategy on climate-related risks for public and private financial assets. The government-wide strategy is set to be developed within 120 days under an executive order that’s nearing completion. Treasury would also work with members of the Financial Stability Oversight Council to share climate-related financial-risk data. Members of FSOC include the heads of the Federal Reserve and the Securities and Exchange Commission. (Bloomberg Green | Apr 8)

Fed Chair Jerome Powell pledged to get the U.S. back to a “great economy” and invoked a homeless encampment in downtown Washington to make the point that the recovery remains incomplete. Stocks climbed as Powell said the central bank has the tools to curb any inflation pressures, which are expected to be temporary. (Bloomberg Economics | Apr 8)

The U.S. Securities and Exchange Commission has a fresh warning for the booming SPAC market: blank-check companies aren’t an end-around to avoid disclosing key information to investors. In a Thursday statement, a top SEC official made clear that despite their unique structure, special purpose acquisition companies are covered by federal securities rules. (Bloomberg Wealth | Apr 8)

The drive to overhaul global taxes for companies gathered more steam on Wednesday after Group of 20 finance chiefs, encouraged by new U.S. proposals, pledged to reach a consensus on new rules by mid-year. (Bloomberg Economics | Apr 7)

The “everything rally” that started in stocks last year has been boosted by investors betting money they have borrowed. That includes both small players like the day traders on Robinhood Markets Inc. and heavyweights like Archegos Capital Management, the investing firm that triggered a mini meltdown for several companies’ stocks. (The Wall Street Journal | Apr 7)
the cyber cafe
Commerce blacklists seven Chinese supercomputing groups
The U.S. Department of Commerce on Thursday blacklisted seven Chinese supercomputing groups, adding the companies to its "entity list” as potential national security threats. 
— The Hill

U.S. eyes retaliation for Russian hack
Administration officials have completed an intelligence review of alleged Russian misdeeds such as election interference and the SolarWinds hack, setting the stage for the U.S to announce retaliatory actions soon, according to three people familiar with the matter.

U.S. spy agencies warn of threats from digital currency to AI
The U.S. intelligence community predicts an increasingly leaderless and unstable world in the coming decades as trends such as artificial intelligence, digital currencies, and climate change reshape the global arena, according to Global Trends 2040: A More Contested World.
binge reading disorder
Illustration: Yann Bastard/Bloomberg
For greater productivity, watch what – and when – you eat
The National Institutes of Health is running a decade-long, roughly $18 billion research effort to tease out how and why diets affect individuals differently, in hopes of ultimately learning to optimize individual nutrition. In the meantime, trust your gut.

New York to Paris in less than an hour?!!
A new supersonic commercial airliner was announced on Monday, one that its designer and manufacturer says will reach speeds of Mach 4-plus. Aerion said the AS3 will make its first flight before the end of the decade, with the ability to fly up to 50 passengers for 7,000 miles.
— Robb Report 

Ad-tracking permission pop-ups are coming to nearly every app on your iPhone
As part of Apple’s effort to present its users with more privacy controls, apps that track user data for advertising purposes or share data with data brokers will be required to show a prompt asking permission to track. But while the choices might seem simple – “Allow” or “Ask App Not to Track” – there’s quite a lot happening behind the scenes.
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