☕️ Ain't good

Exxon has some new resolutions December 15, 2020 [View Online]( | [Sign Up]( [Daily Brew]( TOGETHER WITH [eToro]( Good morning. This being peak Christmas music season, we asked our coworkers for their thoughts on the best Christmas music covers. - Gaetane, engagement editor: Celine Dion’s “O Holy Night” - McCall, account manager: Kelly Clarkson’s rendition of “Blue Christmas” - Dan, senior editor: “Frosty the Snowman” from Cocteau Twins - Jackie, senior director, brand partnerships: “Christmas Time Is Here” by Khruangbin Happy listening. MARKETS NASDAQ 12,440.04 + 0.50% S&P 3,647.49 - 0.44% DOW 29,861.55 - 0.62% GOLD 1,831.50 - 0.66% 10-YR 0.906% + 0.90 bps OIL 46.94 + 0.79% *As of market close - Markets: The S&P has [dropped]( for four straight days, its longest losing streak since September. Then again, we could all use some Vitamin D. - 2020: The Electoral College [formally confirmed]( Joe Biden’s victory. He’ll be sworn in as the 46th president in just over a month on Jan. 20, 2021. - Personnel changes: Bill Barr will [step down]( as attorney general before Christmas, President Trump tweeted last night. ENERGY [Exxon Gets a Trim]( [Exxon green] Francis Scialabba Between the pandemic, a crash in oil prices, and growing calls to address its role in climate change, Exxon Mobil’s had plenty to reflect on this year. Yesterday, it got a headstart on New Year’s resolutions. By 2025, it's [aiming to](... - Reduce overall emissions intensity by 15%–20% - Halve methane emission intensity Emission “intensity”? Exxon’s commitments focus on emissions per unit of output, not absolute emissions. While these efforts should reduce total emissions, it’s not clear by how much, Axios writes. Additionally, Exxon is focusing on emissions linked to its own operations, not what’s known as “scope 3 emissions” released when its products are used (Exxon will begin reporting those next year). Playing catchup Once the most valuable company in the world, Exxon’s market cap has fallen around 60% in the last decade, and it was booted from the Dow this summer. For years, investors have pressured the company to take action on the environment; last week, an [activist investor campaign]( called for new directors. - They might like the example set by [Unilever](, which this week became the first major company to voluntarily give shareholders advisory voting power on carbon reduction efforts. Big picture: Oil companies, especially in the U.S., have been criticized for lagging behind the clean energy transition. While some are making efforts, including net-zero emissions targets and diversifying into renewables, “there doesn't seem to be an oil major that's got it all figured out between the pandemic, cloudy demand and price outlooks, and the unknown path through a world getting a bit more serious about climate,” [Axios writes](. One more bump in their path President-elect Joe Biden. He’s [pledged]( to rejoin the Paris Accord on Day 1, invest $2 trillion in clean energy, and get the U.S. on a path to net-zero carbon emissions “no later than 2050.” - One way to get there: requiring businesses to report climate change risks and opportunities, which Mike Bloomberg pressed Biden to support in [an op-ed]( yesterday. Looking ahead…while fossil fuel companies struggle, a new guard of clean energy giants is beating them to investor dollars and ushering in energy’s “[NextEra](.”  �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Exxon%20Mobil%20Pledges%20Emission%20Cuts%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F14%2Fexxon-mobil-pledges-emission-cuts%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A HEALTHCARE [Bittersweet Day]( [Sandra Lindsay, left, a nurse at Long Island Jewish Medical Center, is inoculated with the COVID-19 vaccine by Dr. Michelle Chester, December 14, 2020 in the Queens borough of New York City.] Mark Lennihan - Pool/Getty Images Yesterday, NYC-area nurse Sandra Lindsay (above) became the first American [vaccinated]( against Covid-19 outside of clinical trials. Three million more doses of Pfizer-BioNTech’s vaccine [will be delivered]( across the country this week. But just as that light at the end of the Lincoln Tunnel gets brighter, the short-term trajectory of the U.S.’ outbreak has never [looked so grim](. - More than 300,000 Americans have died from Covid-19. - The U.S. is averaging around 200,000 new cases/day and 3,000+ deaths. Yesterday, NYC’s mayor told the city to prepare for a potential “full shutdown.” The city halted indoor dining as of yesterday, but will keep schools open.  Across the pond… Things are also getting worse before they get better. [London](, the [Netherlands](, and [Italy]( are following Germany and reimposing stricter lockdowns on nonessential businesses, travel, and social life through early January. And while the UK began administering Pfizer-BioNTech’s vaccine last week, EU countries are [still waiting]( on the bloc’s regulatory body for approval. The longer process has drawn criticism from some European leaders. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=U.S.%20Healthcare%20Workers%20Receive%20First%20Covid%20Vaccines%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F14%2Fus-healthcare-workers-receive-first-covid-vaccines%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A CYBERSECURITY [The Hackers Are in the Computer]( [Zoolander computer] Giphy Fortune 500 companies and government agencies in the U.S. and UK are doing some holiday deep cleaning on their software networks following a [major cybersecurity attack](. The backstory: Hackers infiltrated the IT systems of several federal agencies and top corporations via a product made by software company SolarWinds. The hack was first identified [last week]( by FireEye, a cybersecurity company that itself was hacked. It ain’t good Over 300,000 customers use SolarWinds, [18,000]( of which have been directly impacted, according to the company. It’s a small slice, but what the hackers sacrificed in quantity, they made up for in quality. - Known targets in the U.S. include the Treasury, Commerce, and Homeland Security Departments, according to the Washington Post. As for the identity of the hackers, multiple outlets say all signs point to a specific group of [Russian state-backed hackers]( called “APT29” or “Cozy Bear.” Bottom line: This attack has cybersecurity professionals rattled. FireEye believes the operation dates back to March, potentially giving the hackers access to sensitive data from U.S. elections and a vaccine development process that shattered records. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Assessing%20the%20Fallout%20from%20the%20SolarWinds%20Hack%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F14%2Ftaking-look-fallout-solarwinds-hack%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A SPONSORED BY ETORO [This Is Not a Time for Being Cryptic](#) [eToro]( Let’s get right to the promo: If you invest $5k in crypto using the world’s leading social trading platform, [eToro](, you’ll get a $500 bonus. You could use that money to copy the moves of top-performing traders on eToro using their CopyTrader™ tool. Or, with over a dozen cryptocurrencies available to trade, you can choose from options that are, like the bonus, quite numerous. But the other thing you get when you [invest $5k on eToro]( is access to their Club. You’ll get benefits like: - Higher staking rewards for select crypto - Access to advanced trading products - A sweet eToro swag bag - The ability to say “Join the Club” unironically Again, let us be clear. [Invest $5k in crypto on eToro and get a $500 bonus](. The way to do that, clearly, is by [clicking here](.* ADULT [Pornhub Bows to Pressure, Deletes Unverified Videos]( Late Sunday night, Pornhub said it would [remove all videos]( on its site not created by its content partners or its Model Program members, then set out on a massive content purge that eliminated most of its library. - As of Monday afternoon, the site had 2.9 million videos, compared to 13.5 million on Sunday. The backstory: Earlier this month, Nicholas Kristof wrote in [a column]( for the NYT that the platform was “infested with rape videos” and that it monetizes other types of sexual violence toward childen. That piece set off a [chain of events]( that have “left the porn industry shaken,” according to Motherboard. - Mastercard and Visa, which process payments on the site, launched an investigation. - Pornhub enacted policy changes, including banning unverified accounts from uploading new content. - But that wasn’t enough. Last Thursday, Mastercard and Visa cut ties with Pornhub. Pornhub says that it’s being unfairly targeted because it’s an adult content site and that its efforts to remove illegal content have been largely effective. But it failed to convince the powerful payment processors, whose decisions could lead to major changes in the porn industry. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Pornhub%20Bows%20to%20Pressure%2C%20Deletes%20Unverified%20Videos%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F14%2Fpornhub-bows-pressure-deletes-unverified-videos%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A AUTO [The Ultimate Riding Machine]( [A blue Zoox autonomous robotaxi ] Zoox Yesterday, Amazon-owned Zoox unveiled its first [electric robotaxi]( in its push to eliminate awkward small talk in Ubers forever. Here’s what’s under the hood. - It’s driverless: In fact, the vehicle doesn’t even have a steering wheel or pedals. - It’s safe: In the event of a crash, airbags [envelop individual passengers]( to prevent any painful knee-knocking in the four-person cabin. - It’s fast(ish): Topping out at 75 mph, it’s the speediest robotaxi in the industry. Zoox’s ties with Amazon mean it will likely be called into action to help optimize that last mile of delivery that keeps Bezos up at night. But for now, Zoox is 100% focused on people, not packages. “In a nutshell, we want to eventually move people around a city,” CEO Aicha Evans [told]( journalist Kara Swisher in an interview. “It’s purpose built.” Bottom line: Zoox is not yet ready for commercial use, but the ultimate goal is to launch a ride-sharing app in a few major cities. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Amazon%20Owned%20Zoox%20Unveils%20Autonomous%20Robotaxi%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2020%2F12%2F14%2Famazon-owned-zoox-unveils-autonomous-robotaxi%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A WHAT ELSE IS BREWING - [Google’s]( services, including YouTube and Docs, suffered a widespread outage yesterday morning for about an hour. - [Google]( also pushed back its employees’ return to the office until September 2021 and said it would experiment with a “flexible workweek.” - [Apple]( will now show nutrition-like “privacy labels” that provide more info on the user data that’s collected by apps. - [The FTC]( is asking nine tech companies to share information on their methods for collecting user data. - [Adidas]( is exploring a sale of Reebok. - [Meghan Markle](...venture capitalist? The Duchess of Sussex is investing in oat milk latte startup Clevr Blends. BREW'S BETS Sweatpants, more like sweet pants. [Vuori’s]( Dreamknit™ fabric is buttery soft, meaning you’ll never want to take their Ponto Performance pants off. And since they look as good as they feel, you won’t need to. [Get 20% off your first purchase from Vuori here](.* Invest in a portfolio that cares as much as you do. With [Betterment's Social Impact Portfolio](, you can invest globally in companies that align with your values without sacrificing your portfolio goals. [Invest for better with as little as $10 today](.* Tech Tip Tuesday: Here’s a [list of 15 tips]( for using the Nintendo Switch like a pro, including how to find any misplaced controllers. Picture these: [Images]( that sum up 2020 and the [longest exposure]( likely ever taken. Long reads: We’re jealous of Bloomberg’s 2020 [Jealousy List](. *This is sponsored advertising content GIFT GUIDE [Time Is Running Out...](#) You told yourself you wouldn’t put off your gifting this year...but you did. And that’s okay. Because Sidekick, our lifestyle newsletter giving you trusted recs from all over the internet, is here to help you with your last-minute scramble. In Sidekick’s [Holiday Gift Guide]( you’ll find the perfect holiday present for everyone in your life, including: - Your friend who subscribes to Hulu, Netflix, HBO Max, Peacock, and even CBS All Access - The yogi who has both a morning AND evening skincare routine - The recent NYT Cooking subscriber who won’t shut up about their focaccia bread art Bottom line: In choosing these products, we abided by the Gift Guide Golden Rule: If we wouldn’t give it as a gift, we didn’t include it on the list. [Start browsing](. GAMES [Reader Submission: Fun With M&A](#) Today’s game is the brainchild of Brew reader Mark Bissell. Which reminds us—if you have an idea for a trivia question or a puzzle, definitely drop a line. Okay, onto Mark’s puzzle. Picture a world in which M&As are only approved for companies whose names can be merged by blending one into another via shared letters. In this world, we’ll give you a clue about the combined company and you have to determine the two companies that merged. Ex. Furniture for the Oracle of Omaha = Berkshire Hathawayfair - It has Normal People...and leggings - A $1.6 trillion colossus with a Vision Fund - An electric automaker, but make it bubbly - A defense contractor for singles - Vegan house rentals SHARE THE BREW Enjoying the Brew? Consider sharing it with a friend. When you do, we don’t just give you a pat on the back and say, “Well done old sport.” You earn rewards like our classic coffee mug or T-shirt. [Click here to get free swag.]( Hit the button below to start sharing the Brew. [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER - It has Normal People...and leggings = Hululemon - A $1.6 trillion colossus with a Vision Fund = MicrosoftBank - An electric automaker, but make it bubbly = Tesla Croix - A defense contractor for singles = Lockheed Martinder - Vegan house rentals = Airbnbeyond Meat ** A Note From eToro eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.             Written by [Toby Howell](, [Alex Hickey](, and [Neal Freyman]( Was this email forwarded to you? Sign up [here](. 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