The daily business briefing: July 13, 2020

Redskins plan to change name, hedge fund wins bankruptcy auction to buy McClatchy, and more 

Redskins hats
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1. Redskins to change NFL team's name after pressure from sponsors

The Washington Redskins on Monday will announce plans to change their 87-year-old team name, The Washington Post reported late Sunday, citing three people familiar with the matter. The decision came after the football team faced pressure from corporate sponsors, including FedEx and Nike, to change the name, which is considered a slur against Native Americans. Owner Daniel Snyder, who said in 2013 he would "NEVER" change team's name, and coach Ron Rivera have been working together to select a new name. They plan to discuss possible replacements with Native American and military organizations. It's unlikely the new name will be revealed on Monday, the Post reports; two people familiar with the matter said the name Snyder and Rivera prefer is the subject of a trademark battle.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.