Your Daily Debrief

May 31st, 2022


Good morning, and welcome to your Tuesday! It’s the first day back after the long weekend, and here’s what we have for you:

Today’s Highlights

  • European Union agrees to ban majority of Russian oil imports
  • Climate activist smears cake over the Mona Lisa
  • Danone to send the U.S. half a million cans of specialized formula for babies with allergies
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European Union agrees to ban majority of Russian oil imports

At a summit focused on helping Ukraine by imposing a large package of economic sanctions on Russia, the European Union reached a compromise on Monday to ban more than two-thirds of Russian oil imports.

Per the consensus the EU reached, the new oil embargo applies only to oil imports brought in via sea transportation, and temporarily exempts imports delivered by pipelines. On top of targeting over 1,000 individuals–including President Vladimir Putin, pro-Kremlin oligarchs, government officials and more–the EU had previously imposed five sanction packages on Russia in response to the war in Ukraine. The sanctions included cutting off Russian banks from global financial networks, freezing Russian assets, barring imports of Russian natural gas, and sending Ukraine advanced weapons systems. However, when the EU’s sixth measure of sanctions was proposed on May 4th, it was blocked by Hungary.

Hungary receives over 60% of its oil from Russia, and depends on crude imports that come through Russia’s Druzhba pipeline. When initially blocking the measure, Hungarian Prime minister Viktor Orban made clear he could only support the new sanctions if Hungary’s oil supply security was guaranteed...a stipulation which the new agreement satisfies.

Climate activist smears cake over the Mona Lisa

In an apparent climate-related publicity stunt, a man disguised as an old woman in a wheelchair smeared cake across the glass protecting the Mona Lisa, Leonardo da Vinci’s 16th-century masterpiece in the Louvre Museum.

Inside the famed Paris museum over the weekend, the man–who was wearing a wig and has yet to be identified–sprung up from his wheelchair and hurled himself towards the painting. He first tried to smash the bulletproof glass encasing the Mona Lisa, then proceeded to smear cake across the surface and throw roses all around him before being tackled by security. During the attack, the man called out, “Think of the Earth!”

Museum-goers filmed as the man was escorted out of the Louvre, and several videos of the incident were posted to social media. Museum staff were quick to wipe the cream off the glass, but not before the man took the opportunity to tell onlookers, “There are people who are destroying the Earth. Think about it. Artists tell you: think of the Earth. That’s why I did this.”

Danone to send the U.S. half a million cans of specialized formula for babies with allergies

Multinational food corporation Danone is gearing up to send the equivalent of roughly five million bottles of specialized infant formula to the U.S. to ease pressures from the current formula shortage on babies with allergies.

Covid-related supply chain issues coupled with a shutdown at an Abbott manufacturing facility have contributed to the current formula shortage in the United States, and as a result, supply is scarce for babies with allergies to cow’s milk. According to Danone, the French food giant will send half a million cans of specialized medical formula made by its Nutricia brand to the U.S. in the next few weeks. The company said the formula will come from its factory in Liverpool, England, where it manufactures the Neocate line of amino acid-based products specifically for babies with allergies to cow’s milk and other proteins. The FDA revealed that the half a million cans of specialized formula Danone plans to send amounts to roughly five million full-sized bottles of formula.

Allergies to cow’s milk affect between 2-5% of babies and toddlers around the globe, according to Danone, and is the most common type of food allergy in infants. When a child develops an allergic reaction to cow’s milk, symptoms include vomiting, wheezing, diarrhea, and skin rashes.

Around the Globe

  • Airlines canceled over 6,000 flights worldwide during Memorial Day weekend
  • Eurovision Song Contest winners Kalush Orchestra of Ukraine auction off its trophy and a pink bucket hat worn by the singer for $1.2 million to support Ukrainian army
  • French journalist Frederic Leclerc-Imhoff was killed in Ukraine after the vehicle he was traveling in was hit by shrapnel from a Russian shell

On the Homefront

  • At least 14 additional mass shootings occurred in the United States in the six days after the shooting at Robb Elementary School in Uvalde
  • President Biden pledged to help the Federal Reserve combat inflation by reducing economic demand as the central bank raises rates
  • The Supreme Court expects to issue its first major Second Amendment opinion in over a decade in a pending dispute over New York state’s limits on concealed carrying of handguns

Glitz and Games

  • Arizona Cardinals’ cornerback Jeff Gladney was killed early Monday morning in a car accident at age 25
  • Johnny Depp gave a surprise performance in the UK alongside Jeff Beck days before the jury in his defamation trial reconvenes to deliberate the verdict; deliberations continue today
  • French authorities defended police for firing tear gas and pepper spray into crowds at the Champions League final and blamed industrial-scale ticket fraud for the cause of the chaos

Money Moves

  • S&P 500 futures rose after last week’s upward momentum in the stock market
  • American billionaire investor Todd Boehly and Clearlake Capital have completed their purchase of Chelsea Football Club from Roman Abramovich for £4.25 billion
  • Lumber prices have dropped as a result of rising interest rates quelling demand for building and remodeling homes

Tip & Tricks

  • Bump This: Stimulate your brainwaves and stay in the zone as you catch up on work with this Lofi playlist on Spotify
  • Skim Through: Netflix co-CEO Ted Sarandos talks navigating recent rough waters at the streaming giant and his thoughts on the company’s future
  • Feel Good: Watch this video of a mother and baby sloth reunited after the baby fell out of a tree
  • Hot Goss: Actress Margaret Qualley and ‘Bleachers’ singer Jack Antonoff are reportedly engaged
  • Life Hack: Throw a couple of ice cubes in your dryer and start a cycle to get rid of wrinkles and creases in lighter fabrics; the ice will melt and turn to steam when the heat kicks on

Question of the day

Say you just inherited $1 million in cash…how would you invest your money now? Let us know here:


Looking Back…

On May 31st, 1889, a flood that is now considered to be one of the worst natural disasters in American history ravaged Johnstown, Pennsylvania, causing more than 2,200 deaths.⁠

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