Yard signs? In Animal Crossing?
[Advertisement][Advertisement][Advertisement][Advertisement][Advertisement]
September 02, 2020 [View Online]( | [Sign Up](
[Daily Brew](
SPONSORED BY
[E*TRADE ](
Good morning. Listen, we did a lot of research trying to find something interesting to say about September 2, but to be honest...this may be the most unremarkable day on the calendar. Somebody should do something really awesome today so we have the first anniversary to look forward to next year.Â
One thing we can all agree is very awesome...sharing the Brew with your less-informed friends so you can earn free swag. [Get started here](.Â
MARKETS
NASDAQ
11,939.67
+ 1.39%
S&P
3,526.68
+ 0.75%
DJIA
28,646.45
+ 0.76%
GOLD
1,976.50
- 0.11%
10-YR
0.676%
- 3.00 bps
OIL
42.88
+ 0.63%
*As of market close
- Economy: U.S. assembly lines are [cranking out widgets]( at their best clip since November 2018, according to the latest survey of purchasing managers. The manufacturing sector has expanded for three straight months now.
- Markets: Another day, another [record high]( for the S&P and the Nasdaq. Negotiations over a new stimulus bill appear to be restarting after weeks of stalemate.
RESTAURANT
[The Great British Dining Experiment](
[Big Ben made out of pizza]
Francis Scialabba
They say the British restaurant scene is uninspired. But the British restaurant subsidy scene? Highly innovative.Â
On Monday, the UK [wrapped up]( a first-of-its-kind âEat Out to Help Outâ policy, which incentivized diners to eat out at restaurants bulldozed by the pandemic.
How? By taking a page from Applebeeâs. For the month of August, the UK government paid 50% of the bill (up to $13 per person) for people to eat out on Mondays, Tuesdays, and Wednesdays. Alcohol was not included.Â
- Chancellor Rishi Sunak said the scheme would [support]( 1.8 million hospitality sector workers. That sectorâs output fell 87% between April and June as a result of pandemic-related restrictions.Â
Did it work?Â
Economists are right about one thing: people do respond to financial incentives.Â
- Diners spent up to 6x more on Mondays than on weekends, according to the finance app Yolt.Â
- In the week ending August 25, British dining bookings were up 31% annually, compared to +21% in Germany and -49% in the U.S., according to OpenTable.
- In the first three weeks of the plan, diners claimed 64 million meals (the population of the UK is 67 million). Â
Zoom out: Some industry boosters say success is more than just numbers, itâs about mindset. The incentive lured people out of their homes and got them to start participating in the economy again. Almost 40% of people who used the subsidy said it was the first time they ate out since restaurants reopened, according to a hospitality trade group.Â
But this story is a lot like a restaurant mealâthe bill always arrives at the end. Business Insider [crunched the numbers]( and determined that the incentive cost the government $567 million over the course of the month.Â
Looking ahead...restaurants still face impending doom from cold weather, deferred rent payments, and capacity limits. But many found the âEat Out to Help Outâ scheme so valuable that theyâre going to [continue the discount]( on their own dime.
   mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Britain's%20Dining%20Subsidy%20Ends,%20but%20Many%20Restaurants%20Pledge%20to%20Continue:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20
PLACES
[Kenosha: An Introduction](
[Trump touring Kenosha]
MANDEL NGAN/AFP via Getty Images
Yesterday, President Trump [visited]( Kenosha, the Wisconsin city where a police officer shot Jacob Blake multiple times in the back last month, sparking protests and deadly violence. With the country's attention turned to Kenosha, let's explore the city's economic history as a backdrop for the current turmoil.Â
A quick rundown: Kenosha was once a thriving auto manufacturing hub. But in 1988, the main shopâa Chrysler plantâclosed, [taking 5,500 good jobs]( with it. That represented about 10% of the cityâs workforce.Â
- Manufacturing is still the largest employment sector, and retailer Jockey International and manufacturing firm Snap-on are both headquartered there.Â
But Kenosha has also become a âbedroom communityâ for nearby Chicago and Milwaukee, and its population has [spiked 25%]( in the last 30 years. That growth has led to greater racial and economic inequality.
Howâd the visit go? Trump [spoke]( at a burned-out furniture store and met with local law enforcement. Some of his supporters and Black Lives Matter advocates taunted each other before his arrival.Â
   mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Kenosha,%20WI:%20A%20Primer:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20
RESTAURANT
[McDonald's Sued for Racial Discrimination](
[McDonald's ]
[Michael Rivera](, [McDonald's, US90 Marianna](, [CC BY-SA 4.0](
Yesterday, 52 Black former franchise owners turned up the heat on the McDonald's legal fryer with a [new lawsuit](.Â
The allegations: McDonaldâs discriminated against the franchisees by steering them toward its weaker restaurants in inner-cities, which had higher operating costs and lower revenue, effectively setting them up for failure.Â
- According to the suit, the Black franchiseesâ annual average sales from 2011 to 2016 were 25% below the national average for McDonaldâs owners.
- Theyâre [seeking damages](Â between $4 million and $5 million...per store. The plaintiffs together operated over 200 stores.Â
McDonaldâs response? The company says the allegations are false and it plans to fight the suit.Â
Zoom out: This is at least the third racial discrimination suit filed against McDonaldâs in 2020 alone, despite company claims to promote diversity and equity. Itâs also [faced blowback](Â for allegedly failing to stymie sexual harassment at its locations and protect restaurant workers from COVID-19.
   mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=McDonald%E2%80%99s%20Discriminated%20Against%20Black%20Operators,%20Lawsuit%20Alleges%C2%A0:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20
SPONSORED BY E*TRADE
[We Thought Blue Chips Were for Guac](#)
[E*TRADE ](
We were two bowls deep in our chips and guac when we learned that [E*TRADE]( does way more than just tradingâand that blue chips refer to more than just salsa scoopers.
E*TRADE has a full suite of offerings across investing, retirement, banking, and of course, trading. Wouldnât know a blue chip stock if it was waving its dividend in your face? Not a problem, because E*TRADE is here to help [support you and your financial goals](.
E*TRADE has lots of ways you can [put your money to work]( to help your financial goalsâor to just figure out what those goals should be right now.
So whether youâre more blue chips and guac or blue chip stocks, E*TRADE is here to help you make smarter decisions around investing, banking, retirement, and more.Â
[Learn about all of E*TRADEâs offerings today](.
*Paid Advertisement
TECH
[A New Hope for Samsung](
[Phone wars]
Neal Freyman
Yesterday, Samsung unveiled its latest foldable phone, the [Galaxy Z Fold 2](, and itâs a lot to handle.
- When unfolded, the display is 7.6 inches, 12% bigger than the first-edition Galaxy Fold.Â
- Itâll also cost $1,999 in the U.S.âthe equivalent of five iPhone SEs.Â
So...is anyone going to buy it? Probably not most people, and thatâs okay with Samsung. The Galaxy Z Fold 2 is a luxury gadget for wealthy tech enthusiasts, and includes perks like meal delivery from a Michelin-starred restaurant and access to golf courses.Â
But...it does need some people to buy it. So far, the companyâs swan dive into foldable devices has been more of a belly flop. Samsung delayed the launch of its first foldable phone last year after tech reviewers found that it was breaking. And its foldable phone shipments are essentially a ârounding error,â [writes the WSJ](, when compared to the broader smartphone market.Â
As for rival Apple, itâs [gearing up]( for its big October hardware launch. You can expect four 5G iPhone models, two new Apple Watches, and over-ear headphones, reports Bloomberg.Â
   mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Samsung%20Unveils%20Latest%20Foldable%20Phone,%20Its%20Biggest%20Yet:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20
VIDEOGAMES
[Now You Can Tick Off Your Neighbor in Multiple Universes](
[Animal Crossing Politics]
Nintendo
Know that feeling when youâre trying to build a home on a virtual island without getting swindled by raccoons and think, âThis is great, but I wish I could display my political preferenceâ? Â
Joe Biden [wants to help](. The Democratic nominee's campaign launched virtual yard signs in Animal Crossing: New Horizon, Nintendoâs megapopular game that was released in March.
- It's part of a broader effort to shift the massive campaign apparatus online. Biden has already moved his rallies and fundraising events to the internet.Â
- The campaign is tapping a few gaming influencers to help spread the signs around the virtual universe.Â
How it works: Gamers can [add the signs](Â to their islands using QR codes on the Nintendo Switch Online app. Currently, there are four designs to choose from. Yes, one involves aviators.Â
As for Bidenâs opponent? Some Animal Crossing gamers have made signs supporting President Trump, but his reelection campaign [said]( they wonât do anything official.
   mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Biden%20Campaign%E2%80%99s%20Latest%20Stop:%20Animal%20Crossing:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20
WHAT ELSE IS BREWING
- [New York Cityâs]( school district delayed its in-person reopening by 11 days to avert a teachersâ strike and give them more time to prepare.
- [Amazon]( posted, then later deleted, two job listings for âintelligence analyst" roles whose responsibilities included monitoring âlabor organizing threats.â
- [Zoom]( is now worth more than Boeing, GM, Ford, and Starbucks after shares gained 41%.Â
- [Bumble](, the dating app, is reportedly prepping to go public early next year.
- [Facebook and Twitter]( suspended a few accounts linked to Russiaâs notorious Internet Research Agency.
- [Tesla]( shares soared anothâjust kidding. But it did say itâll sell up to $5 billion in new stock for âgeneral corporate purposes.â
SPONSORED BY E*TRADE
It takes more than working at a business newsletter to be financially savvy. Luckily, [E*TRADE]( helps us put our money to work. Theyâre not just for tradingâalthough theyâre really good at that. [E*TRADE]( also provides a full suite of financial services like investing, retirement, and banking. [Learn how E*TRADE is here to help support you and your financial goals](.
*Paid Advertisement
BREW'S BETS
Find discount codes: At Milled, which calls itself a "search engine for email newsletters," you can browse for sales, coupons, and discount codes from thousands of retailers. [Check it out](.Â
Fill in the blank: If you stan _____; check out ____.
- Elon Musk; [all the books]( Musk has recommended and [a site]( for Elon-ifying your name.
- Artificial intelligence; Emerging Tech Brew's [guide]( and [quiz](, this [Chrome extension]( for turning any article into audio, and another extension for [summarizing emails](.
- Deep dives; the beginnerâs guide to the science of [growing old](, and the ultimate guide to [aerosol transmission]( of COVID-19.
FUTURISTIC CITY TRIVIA
[Akon City ]
KE International
This vision for a $6 billion futuristic city in Senegal was [unveiled yesterday]( in the capital of Dakar. The city is the brainchild of a Senegalese-American singer, who said the economy will run on a cryptocurrency and resemble the fictional African nation of Wakanda in Black Panther. Â
Who is the musical artist?
SHARE THE BREW
When you [share the Brew]( with your network, you earn free swag like our classic Morning Brew t-shirt.
Whether youâre rocking it as a weekday undershirt, a weekend statement piece, or youâre just looking to cause a stir at Aunt Margaretâs black tie wedding, our comfy tees will get the job done.
[Click here to get free swag.](
Hit the button below to learn more and access your rewards hub.
[Click to Share](
Or copy & paste your referral link to others:
[morningbrew.com/daily/r/?kid=4904f90a](
FUTURISTIC CITY TRIVIA ANSWER
You're looking at Akon City.Â
           Â
Written by [Neal Freyman]( and [Eliza Carter](
Was this email forwarded to you? Sign up [here](.
WANT MORE BREW?
 Retail newsletter â [Retail Brew](
 Tech newsletter â [Emerging Tech Brew](
 Marketing newsletter â [Marketing Brew](
 Quarantine newsletter â [The Essentials](
 Business podcast â [Business Casual](
[ADVERTISE]( // [CAREERS]( // [SHOP](
Update your email preferences or unsubscribe [here](.
View our privacy policy [here](.
Copyright ©2020 Morning Brew. All rights reserved.
40 Exchange Pl., Suite #300, New York, NY 10005