Daily business briefing

Senate votes to end debate on bipartisan infrastructure bill, scientists issue dire climate report, and more [Try 6 risk free issues of The Week magazine. Order now.]( [The Week Logo]( [Subscribe to The Week magazine]( [Subscribe to The Week magazine]( Daily business briefing 1. [Senate votes to end debate on bipartisan infrastructure bill]( The Senate voted 68-29 on Sunday night to end debate on the $1 trillion bipartisan infrastructure bill, meaning the measure could pass as soon as Monday night. Eighteen Republicans voted with the Democrats to move the legislation along. Under Senate rules, lawmakers opposed to the measure could run the clock for 30 more hours before a final vote, The Hill reports, which could push the expected passage of the bill to Tuesday morning. If it passes, the measure will go on to the House. [[The Hill]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Senate+votes+to+end+debate+on+bipartisan+infrastructure+bill&body=Read the story here: utm_campaign=business_briefing_newsletter_20210809&utm_source=business_briefing_newsletter) 2. [World's climate scientists issue 'code red for humanity']( The Intergovernmental Panel on Climate Change (IPCC) released a dire report Monday warning that the world was already locked into more weather-related disasters, higher and more acidic oceans, and other significant changes to the planet due to greenhouse gas emissions humans have put into the atmosphere since the 1850s. In all five scenarios the 234 climate scientists laid out, the world fails the most ambitious climate target set in the 2015 Paris Agreement — keeping the world less than 1.5 degree Celsius warmer than pre-industrial times — though the scientists said the most dire scenario, doing nothing, is less likely than before. United Nations Secretary General António Guterres called the report's findings "a code red for humanity" and said we owe it to "the entire human family" to cut emissions fast and sharply to avoid catastrophe. [[The Associated Press]( [The Washington Post]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=World's+climate+scientists+issue+'code+red+for+humanity'&body=Read the story here: utm_campaign=business_briefing_newsletter_20210809&utm_source=business_briefing_newsletter) Sponsored content from Northern Trust [The Business Owner Benchmark: Fortifying for the Future]( [Sponsored content from Northern Trust]( 3. [Judge suspends Florida 'vaccine passport' ban for cruise ships]( A federal judge in Miami granted Norwegian Cruise Line a preliminary injunction Sunday night, at least temporarily blocking a Florida law that bans private companies from requiring proof of COVID-19 vaccination. U.S. District Judge Kathleen Williams wrote in her ruling that Florida "fails to provide a valid evidentiary, factual, or legal predicate" for its "vaccine passport" ban. Florida Gov. Ron DeSantis (R) first issued an executive order banning companies from requiring proof of vaccination, then signed a law passed by the legislature that would fine cruise ships that required vaccination proof up to $5,000 per passenger. Under Williams' ruling, the Norwegian Gem can now set sail from Miami on Aug. 15 with only demonstrably vaccinated passengers and crew. [[CNBC]( [Politico]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Judge+suspends+Florida+'vaccine+passport'+ban+for+cruise+ships&body=Read the story here: utm_campaign=business_briefing_newsletter_20210809&utm_source=business_briefing_newsletter) 4. [Saudi oil company Aramco sees 'stunning' jump in net income]( Aramco, Saudi Arabia's state-owned oil company, reported $25.5 billion in net income for the second quarter of 2021, a 288 percent jump compared to the same period last year. The "stunning" results correspond with higher oil prices as demand resumes and the global economy recovers from the pandemic-induced downturn, CNBC reports. Analysts had been expecting a high number, but the result still surprised many. "While there is still some uncertainty around the challenges posed by COVID-19 variants, we have shown that we can adapt swiftly and effectively to changing market conditions," Aramco president and CEO Amin Nasser said in a statement. The company hinted at possibly increasing its dividend payout level, as many of its competitors have, but did not elaborate. Nasser also said the company would continue to look into "sustainability and low-carbon fuels."  [[CNBC]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Saudi+oil+company+Aramco+sees+'stunning'+jump+in+net+income&body=Read the story here: utm_campaign=business_briefing_newsletter_20210809&utm_source=business_briefing_newsletter) 5. [Stock futures wobble after Friday record]( Stock futures dipped slightly early Monday as investors weighed America's COVID-19 surge with Friday's strong July jobs report, which pushed the Dow Industrial Average to a record Friday close. Futures for the Dow dropped 0.3 percent before the opening bell Monday, while those for the S&P 500 and the Nasdaq lost 0.15 percent and 0.1 percent, respectively. The strong jobs report could push the Federal Reserve to pull its monetary support measures sooner than expected, "which could pressure the market," CNBC says. Investors will be watching key inflation data set to be released later this week.  [[CNBC]( [MarketWatch]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Stock+futures+wobble+after+Friday+record&body=Read the story here: utm_campaign=business_briefing_newsletter_20210809&utm_source=business_briefing_newsletter) [Read more business stories at theweek.com]( MOST POPULAR [Related image]( [Executive assistant who accused Cuomo of groping her says he must be 'held accountable']( Catherine Garcia [Related image]( [GOP senator on DeSantis' mask mandate ban: 'Local officials should have control here']( Tim O'Donnell [Related image]( [NIH director says no anxiety yet about vaccines not protecting against Delta, other variants]( Tim O'Donnell [Related image]( [Are the Biden administration's hopes of sustaining Taliban deal dead?]( Tim O'Donnell [Related image]( [Olympics historian: Tokyo may have gone 'near the top of best organized' Games if not for pandemic]( Tim O'Donnell [Speed reads banner] [Article image]( [MLB Players Association condemns 'abhorrent racial animus' directed at Marlins outfielder during game]( August 9, 2021 [Article image]( [Canada opens border to fully vaccinated Americans]( August 9, 2021 [Article image]( [U.N.-backed climate panel issues a dire report that contains a sliver of positive news]( August 9, 2021 [Article image]( [John Oliver rages against the Sackler family and their 'bulls--t' looming OxyContin settlement]( August 9, 2021 [Read more of today's best articles at theweek.com]( [Try 6 risk-free issues of The Week magazine]( [Unsubscribe from this list]( | [Privacy Policy]( © 2021 The Week Publications, Inc. 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