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Your Daily DebriefJune 1st, 2022 |
Good morning, and happy Wednesday! It’s the first day of June, and here’s what we have for you:
Today’s Highlights
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Supreme Court blocks Texas law on social media moderation
The Supreme Court on Tuesday suspended a Texas law called “HB 20,” which prohibits online platforms like social media companies from moderating the content that users post on their platforms.
The high court ruled 5-4 in favor of blocking the law, and granted an emergency stay request from tech industry groups that petitioned to block it. Tuesday’s ruling marked a win for social media companies, since the law restricts firms such as Facebook, Google (who owns YouTube) and Twitter from policing their platforms through the blocking or banning of posts and accounts. Social media companies have argued that HB 20 violates the First Amendment by restricting their ability to control the content published on their own websites and platforms. The state of Texas, on the other hand, argued that the law does not violate the First Amendment, claiming that HB 20 seeks to regulate social media companies’ conduct towards their users, and not the companies’ speech.
The court’s decision means that HB 20 will remain blocked as the case moves through the 5th U.S. Circuit of Court of Appeals. The five justices who ruled in favor of blocking the law were Chief Justice John Roberts, Brett Kavanaugh, Stephen Breyer, Sonia Sotomayor and Amy Coney Barrett.
Home prices in the U.S. see biggest annual increase since 1987
The price of homes in the United States saw their biggest year-over-year increase in 35 years, climbing even higher in March as buyers moved to lock in mortgages before average rates hit 5%.
According to the S&P CoreLogic Case-Shiller US National Home Price Index–which tracks 20 cities–home prices rose 20.6% in March compared to where they were a year before. The percentage lift seen in March was the highest annual price change since 1987. In February, the year-over-year increase in home prices was 20%. Per data from the index, the largest annual price increases were in the Sun Belt, and the three cities which saw the highest increases were Tampa, Phoenix, and Miami.
Prices in Tampa rose the most out of any city in the nation, climbing 34.8% year-over-year. Phoenix–which had been the city with the most rapid growth in roughly three years–was up 32.4% from a year ago, while Miami’s housing market went up by 32%.
Korean pop group BTS visits White House to discuss anti-Asian hate crimes
BTS made its first-ever visit to the White House on Tuesday to close out Asian American and Pacific Islander Heritage Month.
The boy band–the most successful group in the K-Pop industry–joined press secretary Karine Jean-Pierre at a briefing that is part of the Biden administration’s strategy to combat rising hate crimes against Asians in the United States. At the event, Suga, one of the group’s seven members, said, “It’s not wrong to be different. I think equality begins when we open up and embrace all of our differences.” Fellow group member Jimin added, “We were devastated by the recent surge of hate crimes, including Asian American hate crimes. To put a stop to this and to support the cause, we’d like to take this opportunity to voice ourselves once again.”
The group’s rise to worldwide fame has taken place in tandem with an uptick in hate crimes targeting Asians in the U.S. According to a report by the Center for the Study of Hate and Extremism, anti-Asian hate crimes increased 339% nationwide in 2021–the same year in which BTS were the top-selling music act in the world.
Around the Globe
- The U.S. will send Ukraine advanced rocket systems as part of a new $700 million military package
- Chinese military says it was necessary to conduct a “readiness patrol” around Taiwan in response to “collusion” between Washington and Taipei
- Indian singer Sidhu Moose Wala was shot 24 times when he was killed on Sunday evening, according to officials with access to his autopsy reports
On the Homefront
- Justice Department asked a federal appeals court to overturn an April order that declared the government mandate requiring masks on airplanes to be unlawful
- Two Black residents of Minneapolis filed lawsuits against Derek Chauvin, the former police officer convicted of murdering George Floyd
- A judge denied Sarah Palin’s request for a new libel trial against the New York Times
Glitz and Games
- Stranger Things 4 Volume 1 notched the biggest-ever premiere weekend for a Netflix original series with 286.79 million hours viewed; Bridgerton Season 2 previously held the record with 193 million hours viewed
- Rafael Nadal bested long-time rival Novak Djokovic at the French Open quarterfinals
- Washington Commanders exploring building a new a stadium that would be the smallest in the NFL with 55,000 seats
Money Moves
- Major indexes in the stock market opened the day lower but ended slightly below neutral levels (Dow -0.67%, Nasdaq -0.41%, S&P 500 -0.63%)
- Affirm partners with Stripe to make its buy now, pay later tech available to companies using Stripe’s payments technology
- Oil prices jump after EU reaches an agreement to ban most Russian oil imports
Tip & Tricks
- Binge Watch: The first two episodes of Obi Wan Kenobi on Disney+ have us trying to use the Force to make episode 3 come sooner
- Bump This: Feeling the 90s lately? Us, too. Check out this “Summer Hits of the 90s” playlist on Spotify
- Skim Through: A published paper suggests that Great White sharks outlasted the much-larger Megalodon because the two species preyed on the same kinds of food
- Hot Goss: Billie Eilish and boyfriend Matthew Tyler Vorce split amid cheating rumors
- Life Hack: You can affix binder clips to the edge of your desk to create separate space for hanging and organizing your cables
Question of the day
How old were you when you got your first job, and what was it? Share your story here:
@tipnewsdebriefLooking Back…
On June 1st, 1980, CNN—founded by Ted Turner and headquartered in Atlanta—began 24-hour live news broadcasts; the network gained worldwide attention in 1991 for its coverage of the Persian Gulf War.
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