Raphael Stevens

The Brooklyn Nets will trade guard James Harden to the Philadelphia 76ers in exchange for a package centered around guard Ben Simmons.
Harden had reportedly grown frustrated in Brooklyn, while Simmons has sat out the entire season for Philadelphia.
The Nets will receive Seth Curry, Andre Drummond and two first-round picks, while the 76ers will also get Paul Millsap.

James Harden #13 of the Brooklyn Nets drives against Ben Simmons #25 of the Philadelphia 76ers during the third quarter at Wells Fargo Center on February 06, 2021 in Philadelphia, Pennsylvania.
Tim Nwachukwu | Getty Images

The NBA’s biggest trade domino fell just before the league’s deadline Thursday.
The Brooklyn Nets will trade guard James Harden to the Philadelphia 76ers for a package centered around guard Ben Simmons, The Athletic and ESPN reported. Both outlets reported that the 76ers will also receive forward Paul Millsap, while the Nets will get guard Seth Curry, center Andre Drummond and two first-round draft picks.

The trade will resolve simmering tensions for both teams, which entered the season with championship hopes. The former league MVP Harden has reportedly grown frustrated in Brooklyn as the loaded Nets, beset by an injury to Kevin Durant and Kyrie Irving’s limited availability due to his refusal to receive a Covid-19 vaccine, find themselves near the middle of the league’s Eastern Conference.
Simmons, meanwhile, has refused to play for the 76ers this season after the one-time All-NBA player shouldered much of the blame for his team’s collapse in last season’s playoffs. The 76ers and center Joel Embiid, one of the leading candidates for this season’s MVP award, have remained among the top teams in the East without Simmons.
The trade ends a short-lived experiment in Brooklyn, which traded away much of its future last year to have Harden join fellow superstars Durant and Irving. The trio played only 16 games together.
The Nets, playing without Harden and Irving for much of the series, lost to the eventual champion Milwaukee Bucks in last season’s playoffs.
Philadelphia looked to improve its roster around Embiid to maximize his stellar play this season. Harden, 32, will be reunited with Philadelphia’s president of basketball operations Daryl Morey.

As a Houston Rockets executive, Morey traded for Harden, who helped to make the team one of the top franchises in the league during the 2010s.
The 25-year-old Simmons, the first overall pick in the 2016 NBA Draft, helped Embiid to lead the 76ers to perennial playoff contention. Their success followed “The Process,” years of deliberate losing in the mid-2010s to accumulate top draft picks and other assets.
Simmons, long maligned for his reticence to shoot, drew backlash from fans for his performance in his team’s Game 7 loss to the Atlanta Hawks in last season’s playoffs. At a critical moment in the game, the 6-foot-11-inch Simmons passed up a dunk when 6-foot-1-inch Atlanta guard Trae Young was the nearest defender.
Atlanta’s upset win over Philadelphia, and Simmons’ decision not to shoot, contributed to the guard’s impasse with his team this year.
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GM’s Super Bowl 56 ad is using villains from the “Austin Powers” movie franchise to promote its new electric vehicles.
The ad stars actors Mike Myers, Rob Lowe and others, reclaiming roles from the spy comedy trilogy that ran from 1997 to 2002.
In 2021, the automaker resurrected the 1990 film “Edward Scissorhands” as a basis to promote its luxury Cadillac brand.

GM’s 60-second Super Bowl ad stars actor and comedian Mike Myers reclaiming his role as Dr. Evil from the spy comedy trilogy “Austin Powers” that debuted from 1997 to 2002. It also features Dr. Evil’s sidekicks played by Rob Lowe, Seth Green and Mindy Sterling.

DETROIT – General Motors is riding the wave of nostalgic Hollywood reboots for its Super Bowl 56 commercial with the resurrection of villains from the “Austin Powers” movie franchise to promote its new electric vehicles.
The 60-second spot stars actor and comedian Mike Myers, reclaiming his role as Dr. Evil from the spy comedy trilogy that ran from 1997 to 2002. It also features Dr. Evil’s sidekicks, Rob Lowe, Seth Green and Mindy Sterling.

The ad starts with the villains taking over GM’s headquarters in Detroit. Dr. Evil then plans to topple the world, but the henchmen convince him to instead first fight climate change — “arguably the No. 1 threat to the world now,” Green’s character says. The ad also features jokes and themes from the movie franchise.
The “Austin Powers” nostalgia is the automaker’s lead in to a presentation of its new Ultium electric vehicle platform, several new EVs and autonomous concept vehicles, including a simulated flying car.
The ad is part of the automaker’s “Everybody In” marketing campaign, which it announced just over a year ago to promote these car categories, including 30 new EVs globally by 2025.
“We still need to continue work on that idea of normalizing EVs and help Americans across the country actually see themselves in one,” GM Chief Marketing Officer Deborah Wahl said during a media briefing. “This is really a core part of our entire business strategy at General Motors. We’ll have an EV for every price point and lifestyle.”
GM’s “Everybody In” campaign made its Super Bowl debut last year, with an ad featuring actor and comedian Will Ferrell waging a battle against Norway over EVs.

The new ad marks the second consecutive year GM is rebooting a movie for a Super Bowl ad. In 2021, the automaker resurrected the 1990 film “Edward Scissorhands” as a basis to promote its luxury Cadillac brand.
Wahl declined to comment on how much GM spent to produce and air the “Austin Powers” ad. A 30-second spot in the Super Bowl costs advertisers around $6.5 million, with multiple spots selling for $7 million, according to industry magazine AdAge.
Below is a 90-second version of GM’s new ad, which the company released Thursday ahead of Sunday’s game. It was developed by the Detroit-based office of McCann Worldgroup.

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andresr | E+ | Getty Images

Almost two years into the Covid-19 pandemic, many small businesses are still struggling.
While financial assistance for those impacted by the crisis has ended, some of the hardest-hit industries, including gyms, hotels and restaurants, are pushing for more relief. For many, the omicron surge dealt a big blow.

In the restaurant industry, 88% of operators experienced a decline in consumer demand for indoor on-premises dining because of the variant, according to a survey by the National Restaurant Association. Three-quarters said business conditions were worse now than three months ago, and 74% reported their restaurant is less profitable now than it was before the pandemic.
“The restaurant industry is in this situation not because of financial waste or mismanagement on our part,” said Sean Kennedy, executive vice president for public affairs at the National Restaurant Association.
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“We are in this position because of a national emergency, a pandemic, that needs a national response.”
To be sure, there was a response after Covid devastated the economy. The Small Business Administration rolled out forgivable loans through the Paycheck Protection Program and aid through its Economic Injury Disaster Loan program.

Grants for the live entertainment and arts industry were given through the Shuttered Venue Operators Grant Program, while restaurant operators received grants through the Restaurant Revitalization Fund. The latter saved more than 900,000 jobs and helped 96% of the recipients stay in business, Kennedy said.
Yet it wasn’t enough, he argued. The fund had $28.6 billion, which was paid to recipients, but there’s about another $48 billion in pending applications that missed out.
Nearly 50% of restaurant owners who didn’t receive revitalization grants think it’s unlikely they will stay in business beyond the pandemic without help, the association’s survey found. The National Restaurant Association Research Group polled 4,200 restaurant operators Jan. 16-18.

Restaurants typically have profit margins of 3% to 5%, but need to run at full capacity to hit that, Kennedy explained. Not only has there been decreased consumer traffic thanks to omicron, but operators are also facing worker shortages, which may prohibit them from operating fully, and higher costs due to inflation.
“When you take all of these things and put them together, you really have a perfect storm for a business that is marginally profitable in the best of times,” Kennedy said.
Stephen Hightower, managing partner of City Group Hospitality, is weathering that storm right now.
The restaurant group, which has several locations in Baton Rouge, Louisiana, quickly pivoted when the pandemic hit. It provided take-out service and got into the school lunch business.
It also secured a forgivable PPP loan. However, City Group Hospitality never received a revitalization grant, despite applying within 10 minutes of the portal opening, Hightower said.

Stephen Hightower, managing partner of City Group Hospitality in Baton Rouge, Louisiana, is pushing for the replenishment of the Restaurant Revitalization Fund. His restaurants did not receive any aid before the fund dried up.
Stephen Hightower

Yet the company survived and even felt optimistic enough to add a couple more locations. Then, the delta variant hit, followed by omicron. Costs continued to rise, and workers were hard to find. If there isn’t any relief, Hightower said, he will have to figure out where to start making cuts.
“We can’t continue to raise prices on our guests to make them at levels that are unattractive,” he said.
They have supporters in Congress. Sen. Ben Cardin, D-Md., and Sen. Roger Wicker, D-Miss., are currently working to build bipartisan support for replenishment of the Restaurant Revitalization Fund.
Several Democratic House members also sent a letter to President Joe Biden earlier this week calling for more targeted relief for small businesses, including reopening the fund and the Shuttered Venue Operators Grants. Additionally, they asked for other at-risk sectors centered on in-person gatherings be made eligible for federal assistance, such as the fitness and travel industries and businesses that offer group activities and indoor recreation.

The biggest fear if there is another Covid wave, is it will reshape the restaurant industry forever.

Stephen Hightower
managing partner of City Group Hospitality

“For restaurants, live event venues, travel companies, gyms, and other small businesses centered on in-person gatherings, the massive increase in Covid-19 cases over the past two months has led to a large decline in consumer demand,” the letter stated.
The fate of any relief is unclear and is sure to find opposition from fiscal conservatives, who will argue that much has been spent already. In fact, Sen. Rand Paul, R-Ky., argues that the Covid stimulus spending is to blame for rising inflation.
“Congress needs to realize that further spending at this time of rapidly rising prices is only going to continue the trend of rising prices on this nation’s already vulnerable businesses and families,” Paul said in a statement.
Yet proponents of the aid argue that small businesses are vital to the American economy.
There were 31.7 million small businesses in the U.S. as of October, according to the U.S. Small Business Administration, or 99.9% of all firms. Eighty-one percent of small businesses have no paid employees while 19%, or 6 million firms, do.
“The biggest fear if there is another Covid wave, is it will reshape the restaurant industry forever,” Hightower said.
“That’s why the funding is vitally important — to set the stage for the future of the industry, to come out stronger and utilize everything we’ve learned in the past year.”
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Mattel CEO Ynon Kreiz told CNBC on Thursday the upcoming “Barbie” movie will begin production “this coming March” — the same month the iconic doll turns 63.
Kreiz said Barbie saw record sales in fiscal 2021, growing 24% year over year.
“Barbie, at 63, is still the most diverse doll in the market, it continues to evolve, be more relevant than ever,” he added.

Mattel CEO Ynon Kreiz told CNBC on Thursday the upcoming “Barbie” movie will begin production “this coming March” — the same month the iconic doll turns 63.
“It has an incredible cast, with Margot Robbie playing Barbie, Ryan Gosling playing Ken. We just announced America Ferrera to join the cast,” Kreiz said on “Squawk Box.” “Lady Bird” and “Little Women” filmmaker Greta Gerwig is writing and directing “Barbie.” Mattel has kept the movie’s plot under wraps.

Kreiz said Barbie saw record sales in fiscal 2021, growing 24% year over year. “Barbie, at 63, is still the most diverse doll in the market, it continues to evolve, be more relevant than ever, both timeless and timely,” he said. “We expect another growth year for Barbie in 2022.”
Barbie will also star in a Super Bowl commercial featuring actress Anna Kendrick.

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Mattel shares jumped more than 9% on Thursday, one day after posting stronger-than-expected earnings and revenue for the fourth quarter and a rosy outlook. The stock has gained nearly 15% in 2022 and over 33% in the past 12 months. Kriez said the company’s “turnaround is complete” and Mattel is now in “growth mode.”
Mattel also recently won back the license to make toys based on Disney’s princess lineup, including the popular Frozen franchise. Mattel lost the license to rival Hasbro in 2016, which sparked a period of financial troubles at Mattel and active turnover in the C-suite. Hasbro even approached Mattel about a takeover in 2017, though a deal never materialized.
Kreiz, who joined Mattel as CEO in 2018, said the company will go into production with a “Masters of Universe” movie in partnership with Netflix this summer
Mattel currently has more than 20 TV shows in production.

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The blockade is now entering its fourth day on the Ambassador Bridge, which accounts for a quarter of goods traded between the U.S. and Canada.
General Motors, Ford Motor and Toyota Motor have been forced to cut production at several plants in the U.S. and Canada this week due to a lack of parts.
The White House said it was monitoring the problem “very closely,” according to press secretary Jen Psaki.

Vehicles block the route leading from the Ambassador Bridge, linking Detroit and Windsor, as truckers and their supporters continue to protest against the coronavirus disease (COVID-19) vaccine mandates, in Windsor, Ontario, Canada February 8, 2022.
Carlos Osorio | Reuters

DETROIT – Canadian truck drivers blocking the nation’s busiest border bridge between the U.S. and Canada in protest of that country’s Covid-19 vaccine mandate are now disrupting North American manufacturing, especially among automakers.
General Motors, Ford Motor, Toyota Motor and Stellantis have been forced to cut production at several plants in the U.S. and Canada this week due to a lack of parts caused by the delivery delays.

The White House on Wednesday said it was monitoring the problem “very closely.” Government officials have warned if the so-called Freedom Convoy blockade is prolonged, it could worsen supply chain problems, not just for the automotive industry but also for the medical and agriculture sectors among others.
The blockade is entering its fourth day on the Ambassador Bridge, which links Detroit, Mich., and Windsor, Ontario. The route accounts for a quarter of goods traded between the U.S. and Canada.

“The blockade poses a risk to supply chains for the auto industry because the bridge is a key conduit for motor vehicles components and parts,” White House press secretary Jen Psaki told reporters at a briefing Wednesday. “We’re also tracking potential disruptions to U.S. agricultural exports from Michigan into Canada.”
Psaki said the White House is in close contact with Michigan Gov. Gretchen Whitmer, U.S. Customs and Border Protection authorities, as well as Canadian officials and auto companies. They are attempting to find alternative cross-border routes and alleviate the impact on U.S. production and motorists who use the bridge to get to work.
“We’re very focused on this.  The president is focused on this,” Psaki said.

Auto production

The blockade exacerbates an already tumultuous time for auto production, as companies continue to grapple with a prolonged semiconductor chip shortage that has caused sporadic closures of plants over the past year.
GM spokesman Dan Flores on Thursday confirmed the first shift at its Lansing Delta Township assembly plant in Michigan would be cut due to the problem. A second shift was cut Wednesday, he said.

Ford is running an engine plant in Windsor and an assembly plant in Oakville, Ontario, on a reduced schedule, spokeswoman Kelli Felker said Thursday morning. It follows similar actions by the company Wednesday due to the problem, including a shutdown of the engine facility,
“This interruption on the Detroit-Windsor bridge hurts customers, autoworkers, suppliers, communities and companies on both sides of the border,” Ford said in a statement. “We hope this situation is resolved quickly, because it could have widespread impact on all automakers in the U.S. and Canada.”
Ford had already made significant cuts to production this week at several North American plants due to the chips shortage.
Toyota on Thursday said it would not be able to manufacture anything at two Canadian plants for the rest of this week due supply chain issues, including the blockade. One of its plant’s in Kentucky also is partially down, according to Toyota spokeswoman Kelly Stefanich.
“We expect disruptions through the weekend, and we’ll continue to make adjustments as needed. While the situation is fluid and changes frequently, we do not anticipate any impact to employment at this time,” she said in an emailed statement.

Supporter with sign denouncing Prime Minister Justin Trudeau during “The Freedom Rally” to protest the mandatory vaccine policy imposed on the Canadian truckers returning from USA to avoid a two week quarantine in Vaughan-Ontario in Canada.
Arindam Shivaani | NurPhoto | Getty Images

Stellantis, formerly Fiat Chrysler, cut or ended shifts early at several plants this week due to the problem, according to Jodi Tinson, a spokeswoman for the company. She said Thursday morning that all North American plants are running.
“The situation at the Ambassador Bridge, combined with an already fragile supply chain, will bring further hardship to people and industries still struggling to recover from the COVID-19 pandemic,” she said in an emailed statement. “We hope a resolution can be reached soon so our plants and our employees can return to normal operations.”

Canadian protests

The blockade on the large international suspension bridge is one of a growing number of protests in Canada by the trucking industry.
Protesters have also been blocking the border crossing at Coutts, Alberta, for a week and a half, and more than 400 trucks have been in downtown Ottawa, Canada’s capital, in a protest that began late last month, according to the Associated Press.

A woman attends a protest against the coronavirus disease (COVID-19) vaccine mandates, as vehicles block the route leading from the Ambassador Bridge linking Detroit and Windsor, in Windsor, Ontario, Canada February 8, 2022.
Carlos Osorio | Reuters

Truckers are protesting a rule that took effect Jan. 15 requiring those entering Canada to be fully vaccinated. Canadian Prime Minister Justin Trudeau has shown no sign of easing the country’s restrictions, according to media reports.
François Laporte, president of Teamsters Canada, which represents over 55,000 professional drivers, including 15,000 long-haul truck drivers, has condemned the protests, saying they do not represent the 90% of drivers who are vaccinated.
“We firmly believe in the right to protest government policies and voice a wide array of opinions, but what is happening in Ottawa has done more harm to Teamsters members, be they truck drivers who were trying to deliver their loads, or hotel, restaurant and health-care workers who were intimidated, abused or prevented from accessing their workplaces, by several protesters,” he said in a statement earlier this week. 

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A recent sharp drop in Connecticut’s Covid hospitalizations allowed the Democratic governor there to feel comfortable dropping the state’s mask mandate, effective later this month.
“We want to make sure our hospitals aren’t overwhelmed, they’re down, we got capacity, we’re able to do all the electives that we need,” Gov. Ned Lamont told CNBC on Thursday.
Lamont dismissed as “nonsense” GOP accusations that Democrats are being selective in trusting science and attempting to curry favor with voters before the midterm election.

A recent sharp drop in Connecticut’s Covid hospitalizations allowed the Democratic governor there to feel comfortable dropping the state’s mask mandate, effective later this month.
“The most important metric for me is hospitalizations,” Gov. Ned Lamont said Thursday on CNBC’s “Squawk Box.” “We want to make sure our hospitals aren’t overwhelmed, they’re down, we got capacity, we’re able to do all the electives that we need.”

He added that because omicron cases have been less severe than cases during the delta wave, when Connecticut required masks, now is the optimal time to take face coverings off. “I think now we’re at a different place, I think the numbers say we’re at a different place, and I think the people of Connecticut have earned it.”
There are 552 patients hospitalized with Covid in Connecticut as of Wednesday, down from 1,270 hospitalizations on Jan. 27, according to figures from the state.
Connecticut is set to end its mask mandate on Feb. 28, following several other so-called blue states announcing similar moves.

New York lifted its statewide mask mandate Thursday, though city and school mandates remain in place.
New Jersey said earlier this week that students and school employees would no longer need to wear face coverings.
California Gov. Gavin Newsom announced that vaccinated people will no longer have to wear masks in indoor spaces, starting Feb. 15.
Officials Delaware and Oregon also said they would withdraw some mask measures.

Lamont said Connecticut will provide rapid tests at no cost to people who are symptomatic or have been exposed to Covid, adding there’s no “absolute number” for when masks could come back on if cases were to spike higher again.

CNBC Health & Science

When asked about Republicans’ accusations that Democrats are being selective with their mantra of trusting science and are attempting to curry favor with voters before the midterm election, Lamont said the backlash is “nonsense.”
“Look where we were five weeks ago. Everybody was desperate to get their rapid test. They were waiting in line five hours in many cases. Now we’re in the backside, I hope, of omicron,” Lamont said. “The metrics are pretty clear: We can get rid of these mask mandates and we can do it safely.” He added, “If the world changes, we can change with it.”

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