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Apple to Temporarily Close LA Stores as Virus Cases Jump

Trump remains willing to take coronavirus vaccine -spokesman

FILE PHOTO: U.S. President Donald Trump poses on the Truman Balcony of the White House after returning from being hospitalized at Walter Reed Medical Center for coronavirus disease (COVID-19) treatment, in Washington, U.S. October 5, 2020. REUTERS/Erin Scott/File Photo

WASHINGTON (Reuters) – White House Spokesman Brian Morgenstern on Friday said that President Donald Trump remains willing to take the newly approved COVID-19 vaccine when the time is right, noting that Trump has already been infected with the deadly coronavirus.

How one of the last remaining dyehouses in Egypt has kept its ancient tradition alive as competition ramps up

  • Mass production has threatened the ancient art of dyeing fabric by hand in Egypt.
  • We visited one of the last traditional dyehouses in Egypt, where owner Salama Mahmoud works every day starting at 4 a.m. to support his 12 children.
  • Egypt has long been known for its textile industry, and Mahmoud takes pride in doing a job that "goes back to the Pharaohs."
  • View more episodes of Business Insider Today on Facebook.

Microsoft Is Designing Its Own Chips for Servers, Surface PCs

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Microsoft Corp. is working on in-house processor designs for use in server computers that run the company’s cloud services, adding to an industrywide effort to reduce reliance on Intel Corp.’s chip technology, Bloomberg News reports.

The world’s largest software maker is using Arm Ltd. designs to produce a processor that will be used in its data centers, according to people familiar with the plans. It’s also exploring using another chip that would power some of its Surface line of personal computers. The people asked not to be identified discussing private initiatives.

More information is available on the Bloomberg Terminal.

Nike Inc Reports Advance In Q2 Bottom Line

Nike Inc (NKE) revealed earnings for its second quarter that rose from last year.

The company’s profit came in at $1.25 billion, or $0.78 per share. This compares with $1.12 billion, or $0.70 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.8% to $11.24 billion from $10.33 billion last year.

Nike Inc earnings at a glance:

-Earnings (Q2): $1.25 Bln. vs. $1.12 Bln. last year.
-EPS (Q2): $0.78 vs. $0.70 last year.
-Analysts Estimate: $0.62
-Revenue (Q2): $11.24 Bln vs. $10.33 Bln last year.

McCarthy gets FBI briefing on Swalwell: 'He should not be on Intel' committee

GOP House Leader Kevin McCarthy emerged Friday from a closed-door FBI briefing on Rep. Eric Swalwell's contact with alleged Chinese spy saying the California Democrat should not have access to the nation's secrets.

McCarthy said the House Intelligence Committee is a special panel that's entrusted to classified information and Swalwell doesn't belong there.

"He should not be on Intel," McCarthy told reporters after the FBI briefing at the Capitol. 

"I just think there are definitely 200 other Democrats that I know could fill that place."

House Speaker Nancy Pelosi, D-Calif., also was briefed Friday. She left the meeting without making any comments to reporters. Pelosi has previously stood by Swalwell and said she has confidence in his continued service on the Intelligence Committee. 

Check back to Fox News on this developing story.

Treasury Proposes Cracking Down on Virtual Currency Transfers

The U.S. Treasury Department said Friday it is proposing new requirements involving convertible virtual currencies that would require banks and other intermediaries to maintain records and submit reports to verify customer identities for certain transactions.

The Financial Crimes Enforcement Network — a unit within Treasury that guards against money laundering — requested comments on the proposed rules, saying they were aimed at closing loopholes that can be exploited.

“The rule, which applies to financial institutions and is consistent with existing requirements, is intended to protect national security, assist law enforcement, and increase transparency while minimizing impact on responsible innovation,” Treasury Secretary Steven Mnuchin said in a statement.

Apple to Temporarily Close LA Stores as Virus Cases Jump

Apple Inc. is temporarily closing its Los Angeles-area stores as Covid-19 cases jump in the region. The move marks the first time in many months that Apple has shut retail locations in one of the country’s most populous areas.

The Cupertino, California-based technology giant has several stores in Los Angeles, including major outlets at The Grove and Beverly Center shopping centers, Santa Monica and the Glendale area. On its website, Apple said it is closing 11 local stores beginning Saturday and two stores Friday. It didn’t say when they would re-open.

Los Angeles has become the epicenter of the Covid-19 pandemic in recent weeks. Health regulations in the area allow critical businesses, such as those that sell work-from-home equipment, to remain open at reduced capacity.

Read more:Los Angeles Is Now Worst-Hit U.S. Metro Area for Covid-19 Cases

Other hard hit regions in California, including the San Francisco Bay Area, have yet to see Apple stores close again.