Your Daily Brief

September 16th, 2022

Good morning, and welcome to your Friday! In the age of smartphones, instant film cameras are making quite a comeback for the nostalgia they evoke. However, did you know that shaking a Polaroid picture can cause portions of the film to separate and may actually create distortions in the image? It turns out OutKast got it wrong after all! Anyway, here’s what we have for you:

In Today’s Brief

  • Pakistan: Death toll from floods nears 1,500
  • Railroads: Biden administration helps broker a deal to avoid rail strike
  • Michael Jordan: Jersey from 1998 NBA Finals sells for over $10M
  • Adobe: Acquires rival design firm Figma
  • Australia: Researchers discover a 380M-year-old heart preserved inside a fossilized prehistoric fish
  • Top Tips: Roger Federer is retiring from tennis; Texas & Florida send migrants to Massachusetts & Washington, D.C. via planes and buses; Kanye West terminates his deal with Gap to sell Yeezy-branded clothes

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Roger Federer announces his retirement from tennis

Swiss tennis player Roger Federer, who won 20 Grand Slam titles during his 24-year-long career, announced yesterday that he is retiring from the sport.

In an audio clip posted to his social media accounts, Federer said, “As many of you know, the past three years have presented me with challenges in the form of injuries and surgeries. I've worked hard to return to full competitive form, but I also know my body's capacities and limits, and its message to me lately has been clear. I am 41 years old. I have played more than 1500 matches over 24 years. Tennis has treated me more generously than I ever would have dreamt, and now I must recognize when it is time to end my competitive career.”

On top of thanking his wife Mirka and their four children, his associates, fellow competitors, and fans, Federer said his final competitive match will be at next week's Laver Cup in London.

Governors of Texas & Florida send migrants to Washington, D.C. & Massachusetts

Two buses of migrants from the U.S.-Mexico border sent by Texas Governor Greg Abbott were dropped off near Vice President Kamala Harris’ Washington, D.C. home yesterday, one day after two planes carrying nearly 50 migrants arrived on Martha’s Vineyard in Massachusetts.

Florida Governor Ron DeSantis said Wednesday’s flights to Martha’s Vineyard were part of an effort to “transport illegal immigrants to sanctuary destinations,” and noted that the Florida Legislature has set aside $12M to fund attempts to move migrants to other states. In response to the migrants’ arrival in Massachusetts, both Florida Agriculture Commissioner Nikki Fried and U.S. Attorney for Massachusetts Rachael Rollins said they plan to speak to the Department of Justice about DeSantis’ actions.

The two incidents follow similar moves from Abbott and Arizona Governor Doug Ducey, who have both sent migrants on buses to New York, Chicago, and Washington, D.C. in recent months.

Kanye West ends Yeezy partnership with Gap

In a letter sent through his lawyer yesterday, Kanye West formally notified Gap Inc. that he is terminating his partnership with the apparel chain.

In 2020, West entered into what was supposed to be a 10-year deal under which he would design Yeezy-branded merchandise that Gap would sell in its stores. In turn, West would receive royalties and Gap stock based on sales of Yeezy items. Per the letter sent by West’s lawyer, Nicholas Gravante Jr., Gap breached the agreement by not releasing apparel and failing to open stores that only sold Yeezy clothing as planned.

Gravante said West will now focus on opening his own Yeezy clothing stores, which he previously indicated he planned to do in social media posts last month. Yeezy items won’t disappear from Gap stores in the meantime, and Gap will be able to sell existing Yeezy Gap products before ceasing to use the brand name.

Around the Globe

  • The death toll from floods in Pakistan has reached 1,486 individuals, according to data from the National Disaster Management Authority; authorities said hundreds of thousands of people in the country were still without shelter after this summer’s monsoon season
  • Russian President Vladimir Putin and Chinese President Xi Jinping met yesterday on the sidelines of the Shanghai Cooperation Organization summit in Uzbekistan; Xi’s trip to Central Asia this week marks the first time he has left China since the beginning of the coronavirus pandemic over two-and-a-half years ago
  • Angolan President Joao Lourenco was sworn in for a second term at a ceremony held at the Praca da Republica square in Angola’s capital of Luanda

On the Homefront

  • The FBI arrested Catherine Leavy of Westfield, Massachusetts yesterday for allegedly calling in a hoax bomb threat to Boston Children’s Hospital on August 30th, according to an announcement from the bureau
  • Mississippi Governor Tate Reeves said that tap water in Jackson is safe to drink again after nearly two months of the city’s 150,000 residents being placed under a notice to boil water before drinking it or using it to brush their teeth
  • The Biden administration helped broker a tentative agreement between freight rail companies and unions representing tens of thousands of workers to avoid a potential rail strike; read more about the details of the contract here

Glitz & Games

  • A jersey worn by Michael Jordan in Game 1 of the 1998 NBA Finals that saw the Chicago Bulls facing off against the Utah Jazz has sold for $10.091M with auction house Sotheby's
  • NBC’s Saturday Night Live has added four new featured players to its cast: Marcello Hernandez, Molly Kearney, Michael Longfellow, and Devon Walker
  • Lewis Howes’ podcast The School of Greatness has reached a multi-year advertising and distribution deal with SiriusXM; the company’s ad sales group, SXM Media, will have the show’s exclusive ad sales rights, while SiriusXM’s Stitcher platform will distribute the podcast across all major platforms

Business & Markets

  • Major indexes in the stock market ended yesterday’s trading session in the red as Treasury yields rose (Dow -0.56%, Nasdaq -1.43%, S&P 500 -1.13%)
  • Adobe (NASDAQ: ADBE) has acquired digital design platform Figma for $20B in a half-cash, half-stock deal that is expected to close in 2023; read Figma CEO and co-founder Dylan Field’s statement on the acquisition here
  • FedEx CEO Raj Subramaniam said the company is freezing hiring, closing 90 FedEx Office locations, parking some cargo aircraft, reducing Sunday ground operations, and closing five corporate offices to cut costs; FedEx shares (NYSE: FDX) fell by over 16% in after-hours trading

Tip & Tricks

  • Sneak Peek: Watch Naomi Ackie transform into Whitney Houston in the first trailer for the upcoming biopic I Wanna Dance With Somebody on the singer’s life and legacy
  • Bump This: We just can’t get enough of The 1975 right now - zone out to the band’s Prince-inspired track “Happiness” on Apple Music and Spotify
  • Chow Down: If you’re feeling a solid meal that’s still light enough to not knock you out for two hours afterward, check out this recipe for superhealthy salmon burgers
  • Nerd Out: Read up on how researchers in Western Australia discovered a 380-million-year-old heart preserved inside a fossilized prehistoric fish known as the Gogo; the discovery was published in the journal Science
  • Say What: “It turns out, there’s all these nuts and bolts-y things that even to a reasonably intelligent person are not immediately visible. Experience can sometimes be a lot more important than intelligence,” billionaire and Boston Beer Company co-founder Jim Koch said when reflecting on how his MBA from Harvard Business School didn’t prepare him to launch the Sam Adams beer brand
  • Hot Goss: After shaving part of his hair to encourage his fans to reduce their consumption of single-use plastics, Jason Momoa has debuted a new Hawaiian-style tattoo on the side of his head and down his neck…and we’re not sure how to feel about it 
  • Life Hack: Positive self-talk can help lower stress, reduce anxiety, increase confidence, and boost your overall health - check out some examples of positive affirmations to get your mindset back in balance

Looking Back…

On September 16th: The Mayflower sets sail from Plymouth, England carrying 102 pilgrims headed for the New World (1620); slavery is abolished in all French territories (1848); the sitcom Frasier starring Kelsey Grammer debuts on NBC (1993); musician B.B. King is born (1925).

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