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The Covid pandemic brought about hundreds of firms to chop 401 (ok) posts

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Jamie Grill | Mix pictures | Getty Images

46,000 plans

According to Will Hansen, the group’s executive director, the total percentage of companies that have made changes is relatively small, but amounts to tens of thousands of 401 (k) plans that have reduced the benefits to employees.

According to the latest data from the Employee Benefits Security Administration, there are approximately 572,000 401 (k) plans in the United States.

Extrapolating the survey data would mean that more than 46,000 plans cut 401 (k) funding for employees, and another 5,000 are considering it.

According to the survey, they did this in a number of ways. Most of the 401 (k) plans – nearly 4% – no longer paid a match to the workers. Another 1.5% reduced their match.

Firms also eliminated or reduced mismatched contributions – around 1% and 1.5%, respectively.

For example, companies may choose to pay a mismatched benefit in years of high profits. And unlike 401 (k) matches, they are often created at the end of the year instead of every pay cycle.

“Everyone can guess”

Small businesses were most likely to make changes, according to the November survey of 139 companies asking 139 companies about the impact of the 401 (k) pandemic. The size of the respondents ranged from fewer than 50 employees to more than 5,000.

Companies could choose to reinstate their 401 (k) contributions if business recovers quickly, Hansen said.

Economic growth has slowed significantly in recent months, according to indicators such as job growth and retail sales, but many are hoping that vaccine distribution will mark a return to pre-Covid business.

“Hopefully individuals will see very rich packages of benefits once we get back in this area,” said Hansen. “But it’s everyone’s guess when that will happen.”

Pfizer plans to briefly scale back deliveries of Covid vaccines to Europe

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A picture taken on January 15, 2021 shows a pharmacist holding a vial of undiluted Pfizer BioNTech vaccine for Covid-19 with gloved hands, which is stored at -70 ° in a super freezer at Le Mans hospital in northwestern France became country runs a vaccination campaign to fight the spread of the novel coronavirus.

Jean-Francois Monier | AFP | Getty Images

LONDON – Pfizer will temporarily reduce the number of doses of its coronavirus vaccine shipped to Europe.

The Norwegian Institute of Public Health received a message from Pfizer “shortly before 10 a.m.” Friday, according to a statement released shortly afterwards by the agency. The NIPH statement said supplies of the Pfizer BioNTech vaccine would be reduced from next week “and for an upcoming period”.

“In week 3, Pfizer predicted 43,875 doses of vaccine. Now we appear to be receiving 36,075 doses,” the statement said.

NIPH said the temporary reduction in deliveries was “related to an upgrade in production capacity”. “The temporary reduction will affect all European countries,” he added.

Pfizer later confirmed the interruption in supplies in a statement. “As part of normal productivity improvements to increase capacity, we need to make changes to the process and facility that require additional regulatory approvals,” he said.

Pfizer added that while this would “temporarily affect shipments from late January to early February, it will significantly increase the doses available to patients in late February and March”.

Meanwhile, Pfizer said there could be fluctuations in orders and shipping schedules at its facility in Puurs, Belgium, “in the near future”.

Albert Bourla, CEO of Pfizer, told CNBC’s “Squawk Box” on Tuesday that he was confident of “dramatically increasing” production of the vaccine this year, with the goal of producing up to 2 billion doses.

Bourla also said that Pfizer currently has more doses of its vaccine available than are being used.

The European Union announced last week that it was doubling its inventory of Pfizer BioNTech vaccines.

Ursula von der Leyen, President of the European Commission, said the deal would allow the EU to buy an additional 300 million cans on top of its existing inventory. The EU executive has already been criticized for not buying more of the vaccine.

Rollouts have been slow in many EU countries including France, Germany and the Netherlands, and this latest news is likely to weigh on vaccination programs in those countries. Canada has also confirmed that its deliveries will be delayed, but said it is hoped this will not affect its vaccination program.

Betty White is celebrating her 99th birthday

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Betty White celebrated their 99th birthday with a blast from the past.

On Jan. 17, the Golden Girls alum took to Instagram to express her excitement over the key milestone as well as re-releasing a talk show she had shot back in 1971.

“Would you believe it ?! It’s my 99th birthday, which means I can stay up as long as I want without asking,” wrote Betty. “I’m also very excited to inform you about the re-release of my long-lost series after fifty years! I’m just so proud of the ‘Pet Set’. I hope everyone is fine and safe. We’ll get through it. ” these.”

Betty shared a compilation of videos from The Pet Set that she produced with her late husband All Ludden. On the talk show, the proposal actress interviewed people like Burt Reynolds, Jimmy Stewart, Shirley Jones, Carol Burnett, Mary Tyler Moore and Doris Day. Each star brought its pet and other animals. Everything from zebras to eagles was featured on the show as well.

Ndamukong Suh of NFL Buccaneers following Warren Buffett’s recommendation

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Falcons’ Matt Ryan (2) is chased by Ndamukong Suh (93) of the Bucs during the regular season game between the Atlanta Falcons and the Tampa Bay Buccaneers on January 3, 2021 at Raymond James Stadium in Tampa, Florida.

Cliff Welch | Icon Sportswire | Getty Images

National Football League lineman Ndamukong Suh tries to speak to Warren Buffett quarterly for investment advice and advice.

The two have been close since 2009 when Suh attended the University of Nebraska. The last time he spoke to the “Oracle of Omaha” was on vacation. Suh, who now plays for the Tampa Bay Buccaneers, said Buffett has been talking about options and will be in position if they arrive.

“As you can see, he was super cash-heavy,” Suh ​​told CNBC on Friday. “It is being prepared to take steps and see where there are opportunities in the market.”

Despite being busy preparing for Sunday’s New Orleans Saints, Suh said in a showdown between legendary NFL quarterbacks Tom Brady on the Bucs and Drew Brees on the Saints he was aware of the market turmoil and activity across CNBC- Cell phone notifications remain aware.

While waiting for investment opportunities, he is also preparing for life after football.

“I aspire to be more successful off the field than on the field,” said Suh. “I think I’m in a pretty good place, but I know I have a lot of hard work to do to make that happen.”

Suh’s portfolio

Suh, 34, was particularly interested in hospitality and restaurant opportunities and says he is “bullish” in the sectors.

“I’ve seen a lot of good growth in these areas that a lot of people wouldn’t expect,” said Suh. (He is an investor in a hospitality SPAC but declined to name it.)

“There will be more demand as the vaccine comes out and people are more open to being in public,” Suh ​​said. “Deliveries and the ability to grab and go; I’ve seen a lot of success in these areas.”

Suh didn’t add a publicly traded food company to his portfolio in 2020, but privately he has “projects in the pipeline” this year near Portland, Oregon, where he grew up.

“We have signed leases and are waiting for things to get going again when things come back,” said Suh.

Other investments include Silofit, a fitness company that specializes in privatized workouts. The Canadian company went through a $ 2.5 million fundraising round last November, according to Crunchbase. According to Suh, the company is expanding.

He has used his NFL fame to forge connections with Gary Shiffman, chairman of real estate company Sun Communities Inc, and former Starbucks CEO Howard Schultz. He has interests in both companies and is also considering investing in technology companies.

“I’d say I’m a practical investor,” said Suh. “I like getting my hands dirty. I like adding value, which is why I enjoy being a corporate advisor when I’m not a board member or venture partner.”

Defensive crackdown on Ndamukong Suh of the Detroit Lions

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A meeting with Phil Knight

While serving with the Detroit Lions in 2011, Suh made headlines when he was suspended for two games after trampling a Green Bay Packers player. He returned to Portland and met with Nike founder Phil Knight, who helped him turn a negative into an opportunity.

Suh said Knight told him, “‘We’ll be able to use this from a branding perspective.’ And Nike is one of the smartest groups in storytelling, so they’ve been able to use me in a variety of ways. “

Since then, Suh’s Foundation has focused on creating opportunities for others, one of which he called the Young Black Professional Housing Project. Suh’s mission is to provide housing for young entrepreneurs so they can focus on building their business, not renting.

As Covid-19 hits the nation, rental rates in the city have fallen, but the monthly rent for a one-bedroom apartment still tops $ 1,100, according to The Oregonian, which used data from apartment websites.

“Renting is not easy,” Suh ​​said, adding that he has a 40- and 56-unit project in the architectural phase before moving on to city approval.

“I think they will find that it is a good project and that it will be online soon,” he said. “It’s a quality life and the ability to help young professionals get their feet wet in their business areas of activity, but also not have to worry about their life situation at the same time.”

Tom Brady # 12 of the Tampa Bay Buccaneers throws a pass during the first half against the New Orleans Saints at Raymond James Stadium on November 8, 2020 in Tampa, Florida.

Mike Ehrmann | Getty Images

Brady owes Suh

Suh described the NFL’s Covid-19 season as “challenging,” especially with protocols changing as the league got serious after a Baltimore Ravens outbreak.

“I’m happy to be an older man,” he said. “I anticipated what I had to do and knew everything I had to do when it came to football. I could just handle the by-products as they came.”

Suh added that he was impressed with how young players at the Bucs have handled the season, especially newbies.

“I know their head only turned with football, let alone the pandemic they were struggling with,” Suh ​​said. “Definitely a challenging year, but something we all believed we could do. As professional athletes we are constantly adapting and adapting. I think finding ways to make things are in our blood to do.”

Suh believes Brady will lead the team past the Saints to continue the chase for a Super Bowl. It would be his first title and Brady’s seventh.

Suh gives Brady Flak for the 2019 Super Bowl, which the quarterback cost him when the Los Angeles Rams fell to Brady’s New England Patriots.

“He owes me a Super Bowl since he stole one from me [2019]”Joked Suh.” I had business to take care of this year and I would love to have this Super Bowl, “he added.” I’ve seen a lot of individual success, but I need that team success to really solidify my career. “

How Parler Deplatforming exhibits the efficiency of Amazon, cloud suppliers

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Andy Jassy, ​​CEO of Amazon Web Services.

CNBC

Launching Amazon Web Services is rare, but it has enormous consequences.

It came this week when Amazon dropped Parler, a social network that caught on with conservatives after Twitter banned President Donald Trump and included content that encouraged violence. Parler filed a lawsuit against Amazon in federal district court to prevent Amazon from suspending Parler’s account, and Amazon pushed back, asking the court to deny Parler’s motion.

The incident shows a kind of power that Amazon wields almost uniquely because so many companies rely on it to provide computers and data storage. According to estimates by technology research firm Gartner, Amazon controlled 45% of cloud infrastructure in 2019, more than any other company. The app survived without being listed in the Apple and Google app stores. However, by sending from the Amazon cloud, Parler is not represented on the Internet for days.

Parler’s engineering team had developed software that relied on computer resources from Amazon Web Services, and the company had spoken to Amazon about introducing a proprietary AWS database and artificial intelligence services, the company said in a court case on Wednesday With.

It would take some time to figure out how to perform similar functions on Parler’s own servers or a cloud other than AWS. And in the case of Parler, time is of the essence as the service gained attention and new users after the Trump ban on Twitter.

Parler’s engineers could learn to use other computing infrastructures, or the company could hire developers who already have this knowledge. However, since no cloud provider is as popular as Amazon, Oracle’s clouds, for example, are not as easy to find as those who know how to build on AWS.

The warnings were there

The speed with which Amazon acted shouldn’t come as a shock. Companies have been posting details of their dealings with Amazon for years warning of such sudden crashes.

In 2010, DNA sequencing company Complete Genomics said that “if Amazon Web Services disrupted the services we rely on to deliver ready-made genomic data to our customers, our customers would not receive their data on time.”

Gaming company Zynga warned its AWS foundation could quickly disappear when it filed for prospectus for its IPO in 2011. At the time, AWS was hosting half of the traffic for Zynga’s games like FarmVille and Words with Friends.

“AWS may terminate the agreement without giving reasons with 180 days ‘notice in writing and terminate the agreement with 30 days’ notice in writing for good cause, including all material failures or violations of the agreement by us that we do not within the 30th – Time of day, “said Zynga.

AWS may even immediately terminate or suspend its agreement with a customer in certain circumstances, as was the case with Wikileaks in 2010, indicating violations of the AWS Terms of Service.

Parler began using AWS in 2018, long after the Wikileaks incident and the first company disclosures about the possibility of cloud disruptions.

When AWS announced to Parler that it was planning to block Parler’s AWS account, Parler repeatedly violated the rules, including by not owning or controlling the rights to its content.

Over the course of several weeks, AWS Parler drew attention to cases of user content that led to violence, Amazon said in a lawsuit. Additional content emerged after protesters stormed the Washington Capitol on January 6, disrupting Congress’ confirmation of the electoral college’s results in the 2020 presidential election. AWS said that Parler had not done enough to quickly remove this type of information from its social network.

Parler could have protected himself better. Large AWS customers can sign up for broader agreements that give more customers time to comply when they break the rules.

Gartner analyst Lydia Leong explained this difference in a blog post: “Thirty days is a common time frame specified as a curing period in contracts (and the curing period in the AWS Standard Corporate Agreement), but it is click-through agreements from cloud providers (e.g., because the AWS customer agreement) does not typically have a curing period, action can be taken immediately at the provider’s discretion, “she wrote.

Other cloud providers have their own set of conditions that their customers must follow. AWS now has millions of customers and holds more of the cloud infrastructure market than any other provider. As a result, if they don’t behave according to Amazon’s standards, many companies could be exposed to the type of treatment Parler has received, rare as it is.

Parler recognized the drawbacks of being committed to a cloud provider, but ultimately the flexibility offered by the clouds was too attractive to ignore. “Personally, I’m very much against the cloud and anti-centralization, even though AWS has its place for high-frequency traffic,” wrote Alexander Blair, Parler’s chief technology officer, in a post about the service.

Parler and Amazon did not immediately respond to requests for comment.

CLOCK: Apple pulls Parler out of the App Store while cracking down on violent posts

Virginia man arrested with a gun at residential checkpoint

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Members of the National Guard stop a vehicle at a checkpoint in Washington, DC on January 16, 2021.

Joe Raedle | Getty Images News | Getty Images

A Virginia man who presented an unauthorized housewarming pass to police at a checkpoint along the perimeter that secured downtown Washington, DC prior to inauguration day, was arrested after a gun and hundreds of rounds of ammunition were found in his vehicle had been.

Front Royal’s Wesley Allen Beeler pulled up in a white Ford 150 truck with Virginia tags and gun-related stickers at a security checkpoint on North Capitol Street and E Street Northwest around 6:30 p.m. Friday.

The truck Beeler drove was adorned with firearm decals, including those that read “Assault Life” and “If they come for your guns, give them your bullets first.”

Police say Beeler presented an unauthorized ID. The authorities did not immediately provide further details of what kind of documentation Beeler was alleged to be attempting to provide.

When the ID did not match a list of people authorized to enter the dedication area, US Capitol police officers conducted further searches.

A weapon with a high-performance magazine and ammunition was found in the vehicle, the police said. The gun has not been registered in Washington, DC, police said.

Police say they also found “509 9-MM cartridges of hollow point and bullet ammunition” and 21 12-gauge shotgun cartridges.

Beeler was arrested and taken to the headquarters of the US Capitol Police for processing.

Beeler is accused of carrying a hidden weapon with an unregistered firearm, illegal ammunition possession and a large capacity ammunition feeding device, according to DC police.

Image It: One of the best Golden Ladies Merch for you and your besties

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We love these products and hope you do too. E! has affiliate relationships so we may earn a small portion of the revenue from your purchases. Items are sold by the retailer, not E !.

As they say in St. Olaf, Christmas without a fruit cake is like St. Sigmund’s Day without the headless boy. We’re not entirely sure, but we think it’s like partying Betty White99th birthday without stuff with the ultimate group of girls, The Golden Girls!

No doubt: Blanche, Rose, Dorothy and Sophia are absolute friendship goals. There’s no better way to celebrate today than curling up in a cozy blanket with their faces covered, sipping wine from character-inspired glasses, or lighting a prayer candle in honor of the wise sage Sophia Petrillo (just don’t burn Shady Pines while doing it).

So grab a piece of cheesecake and buy these fantastic gifts that pay homage to the legendary show.

Robert Johnson hopes the GOP will maintain the Senate in Georgia within the runoff elections

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Robert Johnson, founder of Black Entertainment Television, told CNBC on Thursday he hoped the Republican Party would retain control of the U.S. Senate to counterbalance proposals from Democrats.

“I think a balanced government, where each party has the opportunity to bring their best ideas and propose their best solutions, is better for the country as a whole than if the country is in the hands of one party,” Johnson said in “Squawk Box “. “With the country in party hands, I would say that aggressive party behavior tends to prevail, and it seems to be moving us back to this … zero-sum game where my win is your loss.”

Johnson’s remarks come ahead of next month’s Georgia Senate runoff elections that will determine the balance of power in the upper chamber. For the GOP to remain in control, only one Republican has to win, as the party currently has a 50-48 seat advantage. Senator David Perdue faces Democratic challenger Jon Ossoff, while Senator Kelly Loeffler faces Democrat Raphael Warnock.

The Democrats retained control of the House of Representatives in the November election despite losing a few seats, and captured the White House after President-elect Joe Biden defeated incumbent President Donald Trump.

Johnson, who has donated many times to Democrats in the past, said ahead of the presidential election he was unsure of Biden’s policies, particularly around corporate taxes and the pandemic. “Wherever I come out as a businessman, I’m going to bring the devil I know over the devil I don’t know at any time of the week,” Johnson said, though he didn’t directly support Trump in the September 30 interview with CNBC.

On Thursday, Johnson said he believes there will be “more sensible dialogue” in Washington when it comes to passing laws and addressing other issues in the country if Republicans stick with the Senate. As evidence, he pointed to the bipartisan proposal by a group of Democrats and Republicans in the House and Senate.

“People like [Democratic Sen.] Joe Manchin and others from the Democratic Party and others from the Republicans said, “You know, we have to work together for the country. We have to work together for business, and we definitely have to work for people who have lost their rights in years, ”said Johnson, founder and chairman of investment firm The RLJ Companies.

Before serving as Vice President under former President Barack Obama, Biden was a longtime Democratic Senator from Delaware. He has often touted his experience and desire to work with Republicans on compromise laws, particularly Senate Majority Leader Mitch McConnell, R-KY.

“I’ll take him at his word that he’s someone who can reach across the aisle,” Johnson said of Biden. “He can talk to Republicans. He can talk to the liberal wing of his party to reconcile them when they’re too lost. So these are the things I’m looking for.”

Another thing Johnson said he hopes Biden will be able to do is assisting black-owned companies affected by the coronavirus and the economic fallout from the pandemic. He suggested that Biden organize a meeting of business groups and financial institutions to develop a support plan.

“They’re throwing in a terrible pandemic that is devastating the economy for much of the country. Black companies will be the first to get into a deep recession and depression, and they can’t recover without capital, and I don’t think so. You need to take the concept of direct grants to these companies, “Johnson said.

WHO says Covid vaccines should not “silver bullets” and that it has harmed nations to rely solely on them

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On January 13, 2021, employees are storing coffins in the mourning hall of the crematorium in Meißen (East Germany), some of which are marked with “risk of infection” while others are scrawled in chalk, amid the new pandemic of the coronavirus COVID-19. Cremation.

Jens Schlueter | AFP | Getty Images

The World Health Organization said Friday that coronavirus vaccines are not “silver bullets” and that it has harmed nations to rely on them solely to fight the pandemic.

Some countries in Europe, Africa and America are seeing an increase in Covid-19 cases “because we are not generally able to break the chains of transmission at the community level or in households,” said WHO Director General Tedros Adhanom Ghebreyesus during a message Conference from the agency’s headquarters in Geneva.

With 2 million deaths around the world and the spread of new virus variants in multiple countries, world leaders must do whatever it takes to contain infection “through best public health measures,” Tedros said. “There is only one way out of this storm and that is to share the tools we have and to use them together.”

The coronavirus has infected more than 93.3 million people worldwide and killed at least 2 million people since the pandemic began about a year ago. This is based on data compiled by Johns Hopkins University. The virus continues to accelerate in some regions, and countries are reporting that their oxygen supplies are “dangerously low” for Covid-19 patients, the WHO said.

Some countries, including the US, have focused heavily on the use of vaccines to control their outbreaks. While vaccines are a useful tool, they won’t end the pandemic on their own, Mike Ryan, executive director of the WHO’s health emergencies program, told the news conference.

“We warned in 2020 that if we were to rely solely on vaccines as the only solution, we could lose the very controlled measures that were available to us at the time. And I think so to some extent is the case, “said Ryan. The addition of the colder seasons and recent holidays may also have played a role in spreading the virus.

“Much of the transmission has happened because we are reducing our physical distance … We are not breaking the chains of transmission. The virus is taking advantage of our lack of tactical commitment,” he added. “We’re not doing as well as we could.”

Dr. Bruce Aylward, a senior adviser to the WHO Director General, echoed Ryan’s comments, saying vaccines are not “silver bullets”.

“It can get worse, the numbers can go up,” he said. We have vaccines, yes. However, we have limited stocks of vaccines that are slowly being introduced around the world. And vaccines aren’t perfect. They don’t protect everyone from every situation. “

In the United States, the vaccination rate is slower than officials hoped. More than 31.1 million doses of vaccine had been distributed in the U.S. as of 6 a.m. ET Friday, but just over 12.2 million vaccinations had been given, according to the Centers for Disease Control and Prevention.

The cases are now increasing rapidly. The United States records at least 238,800 new Covid-19 cases and at least 3,310 virus-related deaths every day, based on a 7-day average calculated by CNBC using Johns Hopkins data.

On Thursday President-elect Joe Biden unveiled a comprehensive plan to combat the coronavirus pandemic in the United States. While his government will invest billions in a vaccine campaign, it will, among other things, expand testing, invest in new treatments, and work to identify new strains.

How Jonathan Scott grew to become Zooey Deschanel’s MVP

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Though she may have a few other nominations.

While the rest of us labeled a dumpster fire in 2020 and threw the whole lot in the trash, Zooey, mom to 5 year olds Elsie and 3 years old Charlie with ex-husband Jacob PechenikI’ve picked out the things that are worth highlighting, especially the guy she recently dubbed “My 2020 MVP”.

And not just because of the oversized gestures he made when he helped her 40th birthday on January 17th with the neon-colored, spandex-filled birthday party of her 80s childhood dreams. While the celebrations may be decidedly understated for her 41st birthday, Zooey found joy in every last moment with the guy she credits for “feeling happy despite a strange and uncertain year.”

As she put it in an August post on the anniversary of their first meeting: “I’m so grateful for every smile, kiss, hug, cuddle, laugh, scrabble game, escape room, breakfast, lunch and dinner we share together. Even during The Strangest Year for Humankind I want a million billion more with you. “

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