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Your Daily BriefAugust 23rd, 2022 |
Good morning, and happy Tuesday! Did you know that you technically can dig a hole to China as long as you start in either Chile or Argentina? Before you grab a plane ticket and a shovel, though, here’s what we have for you:
In Today’s Brief
- Shanghai: Bund skyline going dark to save power
- Dr. Anthony Fauci: Stepping down in December
- House of the Dragon: Most viewed HBO series premiere ever
- AMC: Shares fall by over 40% in one day
- James Webb: Telescope captures new images of Jupiter
- Top Tips: Former President Trump sues DOJ over the search of Mar-a-Lago; Moviepass is relaunching this summer; Ford to eliminate 3,000 jobs globally
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Trump sues Justice Department over the FBI’s search of Mar-a-Lago
Former President Donald Trump has filed a lawsuit asking a federal judge to appoint an independent lawyer to help review evidence collected by the FBI from his Florida residence.
The FBI searched former President Trump’s Mar-a-Lago estate on August 8th as part of an investigation of the removal of White House records when he left office in January 2021. In the lawsuit filed yesterday, the former president’s lawyers requested that a third-party attorney–known as a “special master”–be appointed to determine whether the files seized by the FBI are covered by executive privilege, which allows presidents to withhold certain communications from public release.
Responding to the lawsuit, Justice Department spokesman Anthony Coley said that the “search warrant at Mar-a-Lago was authorized by a federal court upon the required finding of probable cause,” and added that the “United States will file its response in court."
Moviepass is relaunching at the end of the summer
Movie theater ticket subscription service Moviepass announced that it is relaunching in beta form on Labor Day of this year.
The relaunch comes three years after the company was liquidated. Helios and Matheson Analytics bought the service in 2017, and that same year, the company offered a subscription service that allowed users to receive one movie ticket per day for $10 a month. According to Moviepass, a waitlist for the revamped service will open on its website beginning at 9 AM ET on Thursday, where individuals can opt to join the beta version on a first-come, first-served basis. The cost of different plans will vary based on ZIP codes, and general tiers will be $10, $20, or $30 a month.
Before it ended subscriber services in 2019, Moviepass had captured 4% of the overall market share of box office ticket sales in the U.S. Since then, AMC, Regal, and Cinemark have each launched their own subscription-based offerings.
Ford is cutting 3,000 jobs globally
Ford Motor Co. confirmed that it is laying off nearly 3,000 jobs in an attempt to lower costs amid restructuring efforts.
Executive Chair Bill Ford and CEO Jim Farley notified the company’s workforce of the upcoming job cuts in an internal email sent to employees yesterday. Per the email, the 1% reduction in Ford’s global workforce of about 183,000 mostly targets workers in the United States, Canada, and India, and about 2,000 of the affected positions will be salaried jobs at the company’s headquarters in Dearborn, Michigan. Farley also wrote that the remaining 1,000 employees affected by the layoffs are working in contract positions with outside agencies.
The layoffs come in the midst of a company-wide transformation called Ford+ that includes plans to cut $3B in structural costs by 2026 while expanding its electric and commercial vehicle businesses.
Around the Globe
- Finnish Prime Minister Sanna Marin tested negative for substances following a video that surfaced last week that showed her partying with friends, according to her office
- Chinese officials confirm that the Bund skyline in Shanghai will not be lit for two nights to save power amid a country-wide heat wave and drought
- A federal prosecutor in Argentina requested a 12-year prison sentence for the country’s former President and current Vice President Cristina Fernandez de Kirchner, accusing her of corruption related to public works
On the Homefront
- National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci confirms he is stepping down in December after working for more than 50 years in government health positions
- A body found in a Northern California reservoir is believed to be that of Kiely Rodni, a missing 16-year-old last seen at a party in Truckee, according to the Nevada County Sheriff’s Department
- Atlanta police officers detained an unidentified female suspect at Hartsfield-Jackson Atlanta International Airport after a pair of shootings that left one person dead and two others wounded
Glitz & Games
- 9.99M viewers watched the premiere episode of the Game of Thrones prequel House of the Dragon between HBO and HBO Max; that figure represents the biggest HBO series premiere ever, according to Warner Bros. Discovery
- Drake has been named the most-searched artist in Shazam’s history with over 350M Shazams across songs he has either performed or been featured on; his most popular track is “One Dance” with more than 17M Shazams, according to the company
- Knives Out sequel Glass Onion starring Daniel Craig has set a release date of December 23rd on Netflix; see the first look images here
Business & Finance
- Major indexes in the stock market closed down ahead of the Federal Reserve’s upcoming meeting in Jackson Hole, Wyoming this week (Dow -1.91%, Nasdaq -2.55%, S&P 500 -2.14%)
- The price of AMC Entertainment Holdings Inc stock (NYSE: AMC) fell by over 41% as its new class of shares began trading under the ticker $APE and rival theater chain Cineworld announced that it is exploring filing Chapter 11
- According to legal filings made public yesterday, Tesla and SpaceX CEO Elon Musk is seeking documents from former Twitter CEO Jack Dorsey to find out how the company detects, labels, and counts fake accounts, and how it uses daily active users as a key metric in its financial disclosures
Tip & Tricks
- Bump This: Zedd and Maren Morris have teamed up again for the new track “Make You Say” featuring BEAUZ - listen on Apple Music and Spotify
- Chow Down: See if you can master this recipe for garlic parmesan baked carrot fries (great for a low-key evening, probably not-so-great for dates)
- Nerd Out: Check out this clip of the sounds of a black hole that astronomers from NASA were able to capture (and try not to have nightmares when you go to sleep tonight)
- Look Up: Feast your eyes on these new infrared images of Jupiter captured by the James Webb Space Telescope that show hazes and auroras around the planet
- Say What: “It had everything that I thought we needed for a successful successor show. It had all of the intrigue around the Iron Throne. It had the great houses contending. It had dragons–a lot of dragons–and battles and betrayals,” author George R.R. Martin said regarding the Game of Thrones spinoff House of the Dragon in conversation with the New York Times
- Hot Goss: Love Island U.K. host Laura Whitmore announces that she is leaving the reality series after hosting it for three seasons
- Life Hack: Eating an orange before you exercise helps keep you hydrated and can prevent your muscles from becoming sore
Looking Back…
On August 23rd: Jeff Buckley releases the album Grace featuring his cover of Leonard Cohen's "Hallelujah” (1994); a bank robbery in Stockholm results in a hostage situation that gives rise to the term “Stockholm syndrome” (1973); the first season of the U.S. reality show Survivor concludes (2000); late basketball player Kobe Bryant is born (1978).
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