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45 of 50 biggest U.S. companies turned profit since March

2020 has been an awesome year for Corporate America, but not so much for Working America.

The big picture: 45 of America’s 50 biggest publicly traded companies have turned profits since March, while nearly 8 million Americans have fallen into poverty since June, the WashPost reports in a pair of striking stories.


  • "At least 27 of the 50 largest firms held layoffs this year, collectively cutting more than 100,000 workers," according to a WashPost analysis.
  • “[T]he increase in poverty this year ... is the biggest jump in a single year since the government began tracking poverty 60 years ago. It is nearly double the next-largest rise, which occurred in 1979-1980 during the oil crisis,” reports WashPost's Heather Long.

That gap extends to CEOs versus regular consumers, Axios' Dion Rabouin reported earlier this week.

  • CEO confidence in Q3 was 48% higher than at the beginning of 2019.
  • Consumer confidence was 16% lower than in January 2019.

Between the lines: The expiration of enhanced unemployment benefits played a big part in the poverty spike, economists told The Post.

The bottom line: “These are times when the strong can get stronger,” Nike CEO John Donahoe said in September.

Top Chinese diplomat warns Biden against meddling in country's affairs

Chinese Foreign Minister Wang Yi in a speech on Sunday warned the U.S. against getting involved in China's "internal affairs," saying that "both sides need to abide by the principle of non-interference," CNBC reports.

Why it matters: Biden has promised a hardline approach with China. Tensions between the U.S. and China had heightened for years under the Trump administration.

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America is learning to rebalance its news diet post-Trump

Nearly halfway through President Biden's first 100 days, data shows that Americans are learning to wean themselves off of news — and especially politics.

Why it matters: The departure of former President Trump's once-ubiquitous presence in the news cycle has reoriented the country's attention.

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Why migrants are fleeing their homes for the U.S.

Natural disasters in Central America, economic devastation, gang wars, political oppression, and a new administration are all driving the sharp rise in U.S.-Mexico border crossings — a budding crisis for President Biden.

Why it matters: Migration flows are complex and quickly politicized. Biden's policies are likely sending signals that are encouraging the surge — but that's only a small reason it's happening.

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Cities' pandemic struggle to balance homelessness and public safety

Addressing homelessness has taken on new urgency in cities across the country over the past year, as officials grapple with a growing unhoused population and the need to preserve public safety during the coronavirus pandemic.

Why it matters: It’s led to tension when cities move in to clear encampments — often for health and safety reasons — causing some to rethink the role of law enforcement when interacting with people experiencing homelessness.

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Biden to sign voting rights executive order to mark "Bloody Sunday" anniversary

President Biden will sign an executive order today, on the 56th anniversary of "Bloody Sunday," meant to promote voting rights, according to an administration official.

Why it matters: The executive order comes as Democrats face an uphill battle to pass a sweeping election bill meant, in part, to combat a growing number of proposals introduced by Republicans at the state level that would restrict voter access.

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New York Gov. Cuomo faces fresh misconduct allegations from former aides

The office of New York Gov. Andrew Cuomo (D) was on Saturday facing fresh accusations of misconduct against his staff, including further allegations of inappropriate behavior against two more women. His office denies the claims.

Driving the news: The Washington Post reported Cuomo allegedly embraced an aide when he led the U.S. Department of Housing and Urban Development and that two male aides who worked for him in the governor's office accused him of routinely berating them "with explicit language."

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In photos: Minnesota protesters rally for George Floyd ahead of Derek Chauvin's trial

Dozens of protesters were rallying outside the Minnesota governor's mansion in St Paul Saturday, urging justice for George Floyd ahead of former Minneapolis police officer Derek Chauvin's trial over the 46-year-old Black man's death.

The big picture: Chauvin faces charges for second-degree murder and manslaughter over Floyd's death last May, which ignited massive nationwide and global protests against racism and for police reform. His trial is due to start this Monday, with jury selection procedures.

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