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Your Daily BriefAugust 12th, 2022 |
Good morning, and welcome to your Friday! Today, we’re covering a hostage situation in Lebanon, a ruling that acknowledges Walgreens’ role in San Francisco’s opioid epidemic, and more. Here’s what we have for you:
In Today’s Brief
- Ukraine: McDonald’s to begin reopening some of its restaurants in the country
- Walgreens: Judge rules the drug store chain contributed to rising opioid use in San Francisco
- Bill Russell: First player in NBA history to have his jersey retired across the organization
- Rivian: Electric-vehicle maker lost $1.7B in Q2
- Ryan Reynolds: Says he didn’t consult wife Blake Lively before buying part of a soccer team in 2020
- Top Tips: Average gas prices fall below $4 per gallon nationwide; CDC drops quarantine and social distancing recommendations for Covid-19; protests in Sierra Leonne kill at least 27
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National average for gas prices falls below $4 per gallon for the first time since March
The average price for a gallon of gas in the United States fell below $4 yesterday for the first time since March of this year.
According to real-time data from AAA, the national average for gas prices sat at $3.99 as of last night. The last day the national average for gas prices sat below $4 per gallon was March 5th, 2022. While AAA displays the national average for a gallon of gas compiled from data from all 50 states, it also shows that California and Hawaii continue seeing average prices of over $5 per gallon.
The relief in gas prices comes amid an 8.5% year-over-year increase in inflation in July, according to a report from the Labor Department, down 0.6% from the previous month’s yearly increase of 9.1%. During this time last year, the nationwide average price was approximately $3.20 per gallon.
CDC drops social distancing and quarantine guidelines for Covid-19
The Centers for Disease Control and Prevention released new guidance that says people who are not up to date with Covid-19 vaccines no longer need to quarantine after being exposed to someone infected with the virus.
In addition to lifting quarantine recommendations, the CDC also lifted its guideline to maintain six feet of distance from others, but said that people should still isolate from others for at least five days if they test positive. According to a statement the CDC published yesterday, the agency’s reasoning for the new guidance is that “there is significantly less risk of severe illness, hospitalization and death compared to earlier in the pandemic.”
The CDC also said that it is repealing its “test-to-stay” policy for schools that suggested children exposed to Covid-19 obtain negative test results in order to remain in classroom or childcare settings.
Protests in Sierra Leonne leave at least 27 people dead
At least six police officers and 21 civilians have been killed this week amid protests in Sierra Leonne’s capital of Freetown, according to local sources.
Hundreds of people began protesting in Freetown days ago amid frustration over police brutality, corruption, and a perceived failure by the government to cushion rising costs of living in a country where, according to the World Bank, more than half the total population of 8 million people lives below the national poverty line (as of 2018 data). In addition to protesting current economic conditions, protestors also called for President Julius Maada Bio to step down.
After the government imposed a curfew of 3 PM local time on Wednesday in an attempt to stem the violence, police said that a curfew would remain in effect overnight from 7 PM Thursday to 7 AM local time today.
Around the Globe
- McDonald’s says it will begin a phased reopening of some of its restaurants in Kyiv and Western Ukraine; the company had shut down operations following Russia’s invasion in February but has continued to pay its nearly 10,000 employees in the country
- Mexico’s central bank raised its interbank interest rate by 75 basis points (0.75%) to 8.5%; rates are now at their highest levels in 16 years after comparable bank policies went into effect in the country
- A man in Beirut, Lebanon who entered a bank with a shotgun and canister of gasoline took 10 hostages and threatened to set himself on fire unless the bank allowed him to withdraw his trapped savings; the man later surrendered and no injuries were reported
On the Homefront
- A federal judge ruled that Walgreens contributed to San Francisco's opioid crisis by over-dispensing addictive drugs from 2006 to 2020 without proper oversight and failing to identify and report suspicious orders as required by law
- The United States Postal Service filed its annual temporary price increase for shipping services with the Postal Regulatory Commission, to take effect from Oct 2nd to Jan 22, 2023; see the proposed price increases for USPS shipping services here
- Attorney General Merrick Garland said that the Justice Department has asked a federal court in Florida to unseal the search warrant served at former President Donald Trump’s Mar-a-Lago residence this week and that he personally approved the decision to seek that search warrant
Glitz and Games
- Walmart is reportedly exploring adding a streaming service to its membership Walmart+ and is holding discussions with various potential content partners
- The National Basketball Association announced that it will retire Bill Russell’s No. 6 jersey across the entire league; Russell becomes the first player in league history to have his jersey retired across the organization
- Los Angeles Police Department officials confirm that actress Anne Heche had narcotics in her system when she crashed her car into a Los Angeles-area home last Friday, according to tests conducted after the crash
Money Moves
- Major indexes in the stock market slid to end mixed after opening the day higher (Dow +0.08%, Nasdaq -0.58%, S&P 500 -0.07%)
- Activist investor ValueAct Capital Partners LP disclosed that it has taken a 6.7% stake in the New York Times (NYSE: NYT); shares rose as high as 11% after the disclosure
- Electric-vehicle maker Rivian (NASDAQ: RIVN) revealed during its earnings call that it lost $1.7B in the second quarter of this year and that it now expects its full-year adjusted loss before income, taxes, depreciation, and amortization to total $5.4 billion
Tips & Tricks
- Bump This: See if you can make out the nod to the Bee Gees’ 1977 classic in the new track “STAYING ALIVE” by DJ Khaled, Drake, and Lil Baby - listen on Apple Music and Spotify
- Cash Grab: Villa Firenze, a 31,608-square-foot Italian-inspired estate in Beverly Hills, has returned for sale with an asking price of $79.5M, which is $40.5M less than its original listing price ($79.5M is a total steal for a house, if you ask us)
- Look Up: Did you catch the Sturgeon Moon–the last supermoon of the year–that occurred around 9:36 PM ET last night?
- Go Deep: Read about a study conducted by German researchers that shows how jumping spiders may potentially enter REM sleep and even dream
- Say What: “Superman won’t kill anybody. There’s a code that he lives by and he honors. Black Adam has a unique code of ethics too. He will not hesitate—and I like to have a little fun when I’m explaining this—to rip somebody in half. Literally, he’ll grab someone by the neck and by the thigh and then rip them up, tear them apart,” Dwayne Johnson said in an interview with Vanity Fair regarding playing the titular character in the upcoming film Black Adam
- Hot Goss: Ryan Reynolds apparently failed to tell his wife Blake Lively that he purchased Welsh football team Wrexham FC with actor Rob McElhenney in 2020 (Reynolds and McElhenney each have 50% equity ownership in the team)
- Life Hack: If you have gum stuck on your clothes, heating some vinegar and rubbing it on the area helps remove it
Looking Back…
On August 12th: IBM introduces its first personal computer with a price tag of $1,565 (1981); Henry Ford’s company builds the first Model T automobile (1908); Metallica releases their self-titled fifth album with “Enter Sandman” as the lead single (1991); businessman and philanthropist George Soros is born (1930).
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