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The 2020 election will be by far the most expensive campaign ever run, according to the election finance organization Center for Responsible Politics. The organization said this week that this year’s federal election will cost billion, nearly double from the amount spent last year.Spending on the presidential election alone is projected to be .6 billion, with over billion being spent in House and Senate races.Open Secrets says Joe Biden is set to become the first presidential candidate to ever raise billion, and that figure does not include money spent by PACs.Fueling the cost of this year’s election, billionaires Tom Steyer and Michael Bloomberg pumped .4 billion into the primary race. All told, Democrats have spent nearly billion so far, which is about billion more than Republicans.A plurality of the fundraising, some 41%, comes from large donors. Small-level donors make up 22% of campaign contributions.“Donors poured record amounts of money into the 2018 midterms, and 2020 appears to be a continuation of that trend — but magnified,” said Sheila Krumholz, executive director of the Center for Responsive Politics. “Ten years ago, a billion-dollar presidential candidate would have been difficult to imagine. This cycle, we’re likely to see two.”While individual donations are capped, funds to PACs are not. The highest-contributing individuals in this year’s election are Sheldon Adelson and his wife Miriam who have spent 3 billion. The Adelson’s sent million to pro-Trump super PAC Preserve America.Democrats have benefited from Bloomberg’s generosity. The former presidential candidate has spent 7 million on Democrats, including million to help Biden win the states of Texas and Ohio.The Center for Responsible Politics operates the campaign finance website opensecrets.org. To review their data, click here. 1872
The biggest shopping day on the planet raked in an eye-popping .4 billion.Chinese e-commerce giant Alibaba said Saturday that sales soared past billion after just 13 hours of the retail blitz known as Singles Day, eclipsing the .8 billion it managed in the full 24 hours last year.Singles Day, a bonanza of online spending in China, has for years racked up more sales than Black Friday and Cyber Monday combined.Earlier in the day, Alibaba said eager shoppers had managed to spend billion in just 2 minutes.As the clock struck midnight in Shanghai, the final sales tally rang in at ,386,927,848, marking about a 40% increase over last year's record-setting sales total.Singles Day started out as an informal holiday in China celebrating single people on a day that epitomizes not being paired off: 11/11. Alibaba turned it into a festival of discount deals in 2009.Alibaba has used the now-massive event to lure international companies onto its platforms. More than 40% of the brands taking part this year came from outside China, according to research firm eMarketer Retail.And while Singles Day still mostly targets Chinese consumers, it's also increasingly spreading to other countries, experts say.Local players in Southeast Asia like Lazada (an Alibaba subsidiary), Zalora and Shopee launched their own Singles Day promotions this year, said Xiaofeng Wang, an analyst with research firm Forrester.The event is also evolving beyond its original conception as an online shopping spree.Alibaba and its main Chinese rival, JD.com, have both made significant investments in brick-and-mortar businesses. And they're using the popularity of Singles Day to drive shoppers to offline stores, too.Cosmetics giant L'Oreal, for example, set up an interactive mirror at its Shanghai store where shoppers could try on virtual makeup using augmented reality and then order products on a touch screen linked to an Alibaba platform.But beyond the blockbuster sales, Singles Day also creates an enormous amount of waste.Greenpeace said the manufacturing, packaging and shipping linked to the event produced 258,000 tons of carbon dioxide emissions last year. It would take about 2.6 billion trees to absorb it all.The environmental activist group estimates this year's shopping blitz is on track to leave an even bigger carbon footprint."More over-consumption means more CO2 emissions and waste," said Greenpeace campaigner Nie Li. 2442
The Borderline Bar & Grill was packed as patrons danced, watched a Lakers' game or played pool. It was country college night, and people swayed to the beat as music blared through speakers.Suddenly, a man wearing a black trench coat and glasses approached the bar entrance and shot the security guard.Inside the bar, some people thought it was fireworks or sound effects from the music, and kept dancing, witnesses said.Within seconds, witnesses said, the gunman burst into the bar with a Glock .45-caliber handgun and shot someone at the cash register. People dropped to the ground and hid under pool tables and bar stools. Some piled atop one another while others slammed bar stools against windows to break them.Those who got out ran, the sounds of rapid gunfire echoing around them in the dark."They ran out of back doors, they broke windows, they went through windows, they hid up in the attic, they hid in the bathroom," Ventura County Sheriff Geoff Dean said.By the time the gun went silent, 12 people were dead, including sheriff's Sgt. Ron Helus, who had rushed to the scene. Thousand Oaks, California, described as one of the nation's safest cities, was now on the long list of places affected by a mass shooting. 1241
STOCKHOLM — Americans Paul R. Milgrom and Robert B. Wilson have won the Nobel Prize in economics for “improvements to auction theory and inventions of new auction formats.” The Nobel Committee said their discoveries have benefitted sellers, buyers and taxpayers. Monday's award comes as much of the world experiences the worst recession since World War II because of the impact of the coronavirus pandemic. The award caps a week of Nobel Prizes and is technically known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Since its establishment in 1969, it has been awarded 51 times and is now widely considered one of the Nobel prizes. 672
Surveillance footage obtained from a Las Vegas phone store shows video shows an iPhone exploding on a desk while an employee sat just a couple feet away.The employee quickly jumped up to get help as the phone burned itself out on the desk in less than 20 seconds.The phone screen was being replaced after it cracked due to heat damage as the battery expanded.The store is not being identified.Paul Tartaglio owns Gadget Repair. While it wasn't his shop, he says he has seen badly damaged batteries due to heat in the Las Vegas desert.He has seen a phone explode before but "It takes a lot for it to explode."The biggest issue he sees the temperatures rise into the triple digits in Las Vegas are the cracked screens from warped batteries. "Over time, the batteries heat up and bloat," Tartaglio said. "The problem is when it bloats up just a little bit, it can cause your screen to crack a lot easier."While he says it's extremely difficult to predict when a battery could explode, Tartaglio said the key is to keep phones out of direct sunlight during the summer.Not only can it lead to explosions in extreme cases, but it can also shorten the life of the battery —especially after the phone issues a temperature warning a few times.Smart phone users should also avoid overcharging devices, which can generate extra heat in the battery.Tartaglio also recommends people use replacement batteries directly from the phone's manufacturer, saying they are often more reliable than aftermarket batteries and typically aren't any more expensive. 1597