Axios PM: Happy '21! — Tech's new records— 🐶 Pet portraits

1 big thing: Tech's bundle of lawsuits — and record valuations | Friday, January 01, 2021

Open in app View in browser   Presented By JPMorgan Chase & Co.   Axios PM By Mike Allen ·Jan 01, 2021 🏈 Happy New Year's Day! Today's PM — edited by Justin Green — is 579 words, a 2½-minute read. ⚡ Bulletin: Senators of both parties, meeting in a rare Jan. 1 session, joined the House in easily overriding President Trump's veto of a $740 billion defense policy bill — the first override of his presidency. Trump had called the impending rebuke a "disgraceful act of cowardice." Go deeper.     1 big thing: Tech's bundle of lawsuits — and record valuations Data: Yahoo Finance (through late Dec.). Chart: Axios Visuals Tech companies have never been under more regulatory scrutiny, but it hasn't stopped their growth or spooked investors, Axios' Ashley Gold and Sara Fischer write. Regulators across the country launched five recent investigations into some of the most high-profile tech giants in the world. CEOs, once elusive and hard to wrangle to Capitol Hill, have made multiple (remote) appearances in 2020, defending their businesses and describing themselves as American success stories. But Amazon, Google and Facebook stocks set records. Google and Facebook stock prices are each up roughly 30% since last January. Amazon's stock is up more than 70%. Investors have rewarded all three companies for high-growth moves during the pandemic, including e-commerce and gaming. Share this story.     2. U.K. completes separation from Europe Prime Minister Boris Johnson signs the Brexit trade deal with the EU in Number 10 Downing Street on Wednesday. Photo: Leon Neal/Getty Images After two general elections, three prime ministers, and just over 4½ years, Britain — as of today — finally has the Brexit it voted for in June 2016, Axios chief financial correspondent Felix Salmon writes. Why it matters: For the past 40 years, Britain found peace and prosperity as one of the most important players in a community of more than 400 million people. Today, it has become, once again, an island off the coast of Europe — yet still a global financial, cultural and media hub. Between the lines: Northern Ireland is still part of the U.K., while trading as though it is part of Europe. That means anybody moving goods between Northern Ireland and Great Britain needs to fill out a customs declaration first. The bottom line: The U.K. Office for Budget Responsibility estimates that Brexit will leave the country about 4% poorer than it would have been as part of the EU. Share this story. 🗞️How it's playing ... The Guardian     A message from JPMorgan Chase & Co. A 5-year plan to advance racial equity     JPMorgan Chase is committing $30 billion to address some of the largest drivers of the racial wealth divide. This will: Help 20,000 additional Black and Latinx households achieve lower mortgages. Provide 15,000 additional loans to small businesses. Help 1 million access low-cost banking.     3. Catch up quick Screenshot: Wilmington's newspaper greets 2021. 💉 The U.S. passed 20 million COVID-19 cases — almost twice as many as India, the second-worst-hit country. —Bloomberg 🐊 Florida became the third state, after Colorado and California, to detect the faster-spreading coronavirus variant that's walloping Britain. Go deeper. 🇦🇺 Australia's national anthem, as of today, removes a reference to the country being "young and free," amid calls to recognize that its Indigenous people are the oldest continuous civilization in the world. —Reuters     4. 1 fun thing: Pandemic pet portraits Kana — model and portrait. Photo: LM Otero/AP Online pet story Chewy sends 1,000+ free paintings of their pets to random customers each week, winning loyalty and throwing a bone to social media, AP retail writer Joseph Pisani reports. Why it matters: Chewy's competition has gotten stiffer as more people shop online and adopt pandemic pets. Chewy hopes to stand out with this personal touch and bit of kitsch. You can't buy a Chewy painting from Chewy, and the company doesn't say how you get picked. But it typically sends them out to those who have pet photos on their Chewy account or have shared one with a customer service agent. Danielle Moore of Dallas called Chewy about returning an order, and the customer service agent asked her to send a photo of her Australian cattle dog, Kana. The painting (above) showed up three months later. Chewy, founded in 2011, has worked with hundreds of artists around the country, mailing them photos of the pets.     A message from JPMorgan Chase & Co. Chicago advances an equitable recovery from COVID-19     JPMorgan Chase joins Chicago's Together We Rise initiative to work to rebuild from the disproportionate impact of COVID-19 along racial lines. The firm is making long-term commitments in Chicago's Black and Latinx communities to: Increase homeownership. Support small businesses.     Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Suite 1300, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. Change your preferences or unsubscribe here.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: