Raphael Stevens

U.S. President Joe Biden gestures as he speaks during the Democratic National Committee’s “Back on Track” drive-in car rally to celebrate the president’s 100th day in office at the Infinite Energy Center in Duluth, Georgia, April 29, 2021.Evelyn Hockstein | ReutersIn his first 100 days in office, President Joe Biden signed into law a $1.9 trillion coronavirus relief bill, put forward a multitrillion-dollar plan to overhaul the economy and unilaterally reversed course on many of his predecessor’s policies.Biden took the reins from former President Donald Trump amid the coronavirus pandemic and under a cloud of nationwide social and political unrest.When he took office Jan. 20, Biden vowed to shepherd the nation through an unprecedented “winter of peril” and set it on a path toward unity.As he approached his 100th full day on the job, Biden this week declared that America is “leading the world again.”Here’s a look at what’s happened in Biden’s first 100 days.A Cabinet that will ‘look like America’Even before taking office, Biden pledged to build a diverse Cabinet that would “look like America.”He’s living up to that commitment, according to Kathryn Dunn Tenpas, a presidential scholar and senior fellow at the Brookings Institution who has been tracking Biden’s appointees.The Biden administration is pacing ahead of recent predecessors with a greater share of Senate-confirmed women and nonwhite appointees at the 100-day mark than former presidents Trump, Barack Obama and George W. Bush had at their 300-day marks, according to Brookings’ tracker.Zoom In IconArrows pointing outwardsThe data was last updated on Wednesday and covers confirmations to the 15 departments in the line of presidential succession, and excludes some departments such as U.S. attorneys as well as military appointments.The high-profile positions that minorities have been appointed to also reflect Biden’s commitment to diversity, Tenpas said.”It’s not just that the numbers are showing he’s appointed more women and nonwhites, but he’s putting them in positions they’ve never occupied before,” she said.Biden’s Cabinet includes Lloyd Austin, the country’s first Black Defense secretary; Transportation secretary Pete Buttigieg, the first openly gay person to hold a Cabinet position; Secretary of the Interior Deb Haaland, the first Native American Cabinet secretary; Janet Yellen, the first woman to head the Treasury Department; and Xavier Becerra, the first Latino secretary of Health and Human Services.President Joe Biden and Vice President Kamala Harris meet with Cabinet members and immigration advisors in the State Dining Room on March 24, 2021 in Washington, DC.Chip Somodevilla | Getty ImagesHistorically, Tenpas said, women and minorities have often been appointed to less-visible positions, such as with the Department of Veterans Affairs, Department of Housing and Urban Development and Labor Department.The first 100 days are typically a preliminary look at administration appointments, Tenpas noted. A president’s second 100-day period is often more productive in terms of Senate confirmations, which will be another opportunity to check in on Biden’s diversity pledge.200 million shots in armsBiden took office amid the peak of the Covid crisis, when the country was reporting nearly 200,000 Covid cases and more than 3,000 deaths per day.He set an initial goal of 100 million vaccine shots administered in 100 days, which drew criticism for being too conservative. The White House reached that mark in 58 days and set a new target of 200 million shots, which was surpassed on day 92.Zoom In IconArrows pointing outwardsMore than half of U.S. adults have received at least one dose, according to Centers for Disease Prevention and Control and Prevention data, and all are now eligible to be vaccinated.But the pace of daily shots has slid in recent weeks, down to an average of 2.6 million daily reported vaccinations from a peak of 3.4 million in mid-April.Hottest market performance since the 1950sThe major stock market indexes have soared during Biden’s tenure, with S&P 500 gains during his first 100 days stronger than those of any president going back to at least the 1950s and the Eisenhower administration.Bolstered by record levels of stimulus, the index has risen by 25% since Election Day, part of a continued rally that began in late March 2020 after the coronavirus crash, and has shown few signs of slowing down since.Zoom In IconArrows pointing outwardsThe Dow Jones Industrial Average is up 23.9% over that period and the tech-heavy Nasdaq Composite has climbed 26.2%.The Biden rally hit a blip when news broke on April 22 that the president is planning a capital gains tax hike on the wealthy, with the S&P 500 and Dow closing down nearly a full percentage point each. Stocks quickly recovered their losses, though, and the White House brushed off a question related to investors’ concern about the tax proposal.”I’ve been doing this long enough not to comment on movements in the stock market,” White House press secretary Jen Psaki said during a press briefing on April 23, adding “but I did see data, factually, that it went back up this morning.”The market has been somewhat volatile under Biden, at least by historical standards. The S&P 500 rose or fell by 1% or more on 31 of the days between the Election Day and Biden’s 100th day, compared with five days under Trump’s initial period in the White House.Big spending, positive ratingsConsidering the political moment he stepped into, Biden’s approval rating has so far been strong. But it’s unclear whether his numbers will stay above water, as he and his party gear up for a series of major policy fights that could define the rest of his presidency.Biden’s approval rating sits at 57% after 100 days, according to Gallup data, making him way more popular than Trump was. But that’s not saying much: Trump’s rating at this point – 41% – was 14 points lower than any other president in Gallup’s history.Zoom In IconArrows pointing outwardsThe president’s Republican predecessor maintained historically low approval numbers throughout his one term in office, never cracking the 50% threshold, Gallup polling shows.Compared with other presidents, Biden’s rating is less impressive. He’s ranked third-lowest of any president since Dwight Eisenhower at the 100-day mark, according to Gallup.Americans tend to give Biden his lowest marks on his handling of China, guns and immigration.Still, it’s notable that Biden is garnering positive ratings at a time of extreme political polarization. Gallup’s latest survey shows Biden with just 11% approval among Republicans, but he nets 58% approval from independents. At this point in Trump’s presidency, just 37% of independents gave him a thumbs up, Gallup shows.Biden’s approval appears to be buoyed largely by his administration’s decision to focus intently on Covid from Day 1.Americans still see the coronavirus as one of the most pressing issues facing the country, and several polls show Biden receiving highest marks for his handling of the pandemic. Biden pushed hard for Congress to pass the $1.9 trillion Covid relief plan, which many more Americans support than oppose.But there’s also more of an appetite for the sort of big-ticket government spending that the administration has put forward. Fifty-five percent of respondents in a recent NBC News survey, for instance, said the government should do more to solve problems and help meet the peoples’ needs, versus 41% who said it’s doing too much.Even before the White House detailed Biden’s latest spending plan — a $1.8 trillion package aimed at helping children, students and families — nearly two-thirds of respondents in a Monmouth University poll said they backed the idea.Experts say it makes sense that Biden’s economic proposals — presented in their loftiest, most ambitious form — seem to resonate with Americans. But those plans are bound to change drastically once lawmakers get ahold of his agenda, and it’s unclear what Congress will be able to pass.Democrats hold a slim majority in the House, and a razor-thin advantage in the Senate. The filibuster rules in the Senate requires 60 votes for much legislation to be passed, and Democrats’ ability to bypass that hurdle through budget reconciliation can be used only sparingly.Biden has repeatedly said he seeks bipartisan input, while stressing that inaction on his agenda is not an option. But there’s little indication that Republicans will support anything like Biden’s plans in their current form.In addition, some moderate-to-conservative-leaning Democrats, such as Sen. Joe Manchin of West Virginia, are already voicing skepticism about the spending push. More

Trevor Lawrence is the favorite to be picked No. 1 overall in the NFL draft, and will receive a contract worth nearly $37 million.Ezra Shaw | Getty Images Sport | Getty ImagesAdd Fanatics to the sports companies aligned with quarterback Trevor Lawrence.The e-commerce giant announced a multiyear deal on Friday for rights to Lawrence’s collectibles, one day after the 21-year-old Clemson star was selected as the No. 1 pick in the National Football League draft. Fanatics will offer signed Lawrence items from his time at Clemson and now with the NFL’s Jacksonville Jaguars. Financial terms of the agreement were not provided.Fanatics’ memorabilia roster including fellow NFL quarterback Tom Brady, National Basketball Association forward Zion Williamson and WNBA star Sabrina Ionescu. “I’m really excited to be joining the Fanatics team, especially since they are based here in Jacksonville,” Lawrence said in a statement, adding he wants “to give fans even more access to the game through memorabilia and exclusive signed items.”Added Fanatics executive vice president Victor Shaffer: “We’re looking forward to creating an unmatched shopping experience and opportunities for fans in Jacksonville, Clemson and beyond to celebrate both his time in college and the start of his NFL career.”The Fanatics deal is officially Lawrence’s first as an NFL player, but he’s already aligned with companies including sports drink maker Gatorade, Adidas, and a cryptocurrency, Blockfolio. After Lawrence was drafted, the company presented him with $25,000, deposited in a crypto account.Quarterback Trevor Lawrence sets up for a throw during Jordan Palmer’s QB Summit NFL Draft Prep in a park on January 25, 2021 in Orange County, CA.Aubrey Lao | Getty ImagesThe Jaguars are turning to Lawrence to help revive a franchise that has made the playoffs only twice since 2007. The club fired coach Doug Marrone, who last led the team to the postseason in 2017, replacing him with longtime college coach Urban Meyer.Lawrence was the first of five quarterbacks drafted in the first round. The New York Jets followed by taking BYU’s Zack Wilson, and the San Francisco 49ers drafted North Dakota State’s Trey Lance with the third overall pick.Chicago selected Ohio State’s Justin Fields 11th overall, and the New England Patriots took Alabama’s Mac Jones 15th. It marks the sixth straight year at least three quarterbacks were drafted in the first round.The NFL Draft continues through the weekend, with rounds two and three Friday, and four through seven on Saturday. More

Kevin De Bruyne of Manchester City celebrates after scoring their team’s fifth goal with team mates Phil Foden and Riyad Mahrez during the Premier League match between Manchester City and Southampton at Etihad Stadium on March 10, 2021 in Manchester, England.Clive Brunskill | Getty Images Sport | Getty ImagesLONDON — While the soccer community celebrated the failed launch of the European Super League last week, the motivating factors behind the proposal haven’t gone away.Now known as the “dirty dozen,” 12 powerful European soccer clubs tried to form their own enclosed league, which was scuppered just days afterward due to pressure from fans, authorities and governments. These teams, particularly in Spain, are still nursing pandemic-induced debt, while revenues at many clubs around the world have been hit after virus restrictions forced games to be played behind closed doors — evaporating matchday incomes.What comes next?Florentino Perez, the president of Real Madrid which was one of the clubs involved, has told Spanish media that the project, or one very similar, will still move on. His Barcelona counterpart Joan Laporta has stressed that the ESL clubs are open to dialogue with UEFA, Europe’s governing body, in a bid to revive the project.Simon Chadwick, a director of Eurasian sport at the Emlyon Business School, believes suggestions that the Super League has fallen apart are naive, telling CNBC that Europe will get a “super league by a different name,” adding that it is “a case of when, not if.” Chadwick argues that the coming years will bring further polarization and industrial concentration, with the big clubs set to accumulate further power, and the gap between them and the smaller clubs growing further.American inspirationThis, he says, will be seen through how major clubs look to develop new revenue streams, with over-the-top broadcasting set to feature prominently. He compares the NFL’s recent TV rights deal, worth around $110 billion over 11 years, to the English Premier League’s current domestic broadcast deal worth £4.7 billion ($6.6 billion), secured in 2018 and due to run out this year.While the NFL has grown in popularity outside of the U.S. in recent years, it is still dwarfed globally by England’s Premier League, with the UEFA Champions League also having an avid worldwide audience. Tech companies have joined the bidding wars for the Premier League’s broadcast rights in recent auctions, easing the logistical obstacles to global distribution.  New ownersThe fallout from the Super League proposals has also seen some fans call for new club owners. Spotify CEO and founder Daniel Ek has expressed his interest in buying Arsenal, telling CNBC he has secured the funds for a potential offer for the North London club. But current owner Stan Kroenke, who also owns NFL franchise the LA Rams, has ruled out any sale, stressing he would not entertain any offer.Meanwhile Jim O’Neill, the chairman of British think tank Chatham House and former chair of Goldman Sachs Asset Management, and the hedge fund manager Paul Marshall have called on the owners of Manchester United, the Glazer family, to cut their majority stake to a maximum of 49.9% in a bid to allow for a broader group of investors to have a say in the running of the club.Chadwick downplayed the prospect of current owners looking to sell, adding that “if this is such an unprofitable, difficult business that doesn’t yield the kinds of returns that owners are looking for,” then Manchester United’s owners, the Glazers, would have pulled out a long time ago. More

Private jet charter company VistaJet has outlined plans to reach carbon neutrality by 2025 in a bid to get the aviation industry’s sustainability goals off the ground.The strategy includes carbon offsetting schemes contributing to forest protection in Zimbabwe and the Brazilian Amazon, as well as the option for customers to pay extra for sustainable fuels like biofuel.VistaJet’s founder and chairman said the company’s shared economy business model, which “competes with full aircraft ownership” by giving subscribers access to its fleet of 160 private jets, means customers will be more willing to reinvest cost savings into sustainable add ons.Some of these empty flights can be up to 50% versus a shared model where it’s constantly optimized.Thomas Flohrfounder and chairman, VistaJet”The price and cost advantages that we give allow for that extra charge,” Thomas Flohr told CNBC’s “Squawk Box Asia” on Thursday. So far, he said, VistaJet has seen an 80%-plus adoption rate among customers opting for offsetting programs.Flohr said the company will also deploy “cutting-edge technology” for route planning, including artificial intelligence to predict customer behavior and reduce empty legs to the “lowest level possible.””This is really one of the problems with corporate jets. Some of these empty flights can be up to 50% versus a shared model where it’s constantly optimized,” he noted.A man talks on the phone next to a VistaJet on display for the 11th annual European Business Aviation Convention and Exhibition (EBACE) held at Geneva International Airport and Geneva Palexpo on May 16, 2011 in Geneva, Switzerland.Harold Cunningham | Getty Images News | Getty ImagesThe plans come as the airline industry faces ongoing pressure to cut carbon emissions and improve sustainability practices, even as it struggles to recover from the coronavirus-induced hit to international travel.At present, the global aviation industry is targeting a 50% reduction in carbon emissions by 2050.Despite criticism of private jet flights, whose low passenger numbers are typically seen as more inefficient than commercial alternatives, Flohr said he believes the industry is at an inflection point.While commercial airlines may take several years to return to full capacity due to the pandemic, companies like VistaJet can now operate smaller planes at full capacity, he said.”In terms of business efficiency, we’re really not sticking one CEO on a flight,” said Flohr. “We really only take off if we have a fully paid for and full cabin.”Already this year, limitations in commercial travel have served as a boon for VistaJet, with the company recording demand in excess of pre-pandemic levels in the first quarter.Correction: This story has been updated to reflect that VistaJet has seen a greater than 80% adoption rate among customers for offsetting programs. More