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Your Daily BriefAugust 25th, 2022 |
Good morning, and happy Thursday! Did you know that Hawaiian pizza was actually created in Canada by Greek immigrant Sam Panopoulos in 1962? We’re personally a bit iffy on the stuff…but while you debate whether putting pineapple on pizza is ingenious or sacrilegious, here’s what we have for you:
In Today’s Brief
- Ukraine: Russian rocket attack claims lives of 15 and wounds 50 on Ukraine’s Independence Day
- Homes: Prices declined from June to July in the U.S. for the first time in almost three years
- Harvey Weinstein: Granted an appeal in New York
- Peloton: Products now available on Amazon
- NASA: Will crash a spacecraft into an asteroid as part of a new defense system
- Top Tips: Biden announces student debt forgiveness; Kobe Bryant’s widow Vanessa Bryant awarded $16M in damages over helicopter crash photos; Tiger Woods and Rory McIlroy’s TMRW Sports partners with PGA Tour to launch new golf league
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President Biden cancels $10K in student debt for borrowers earning below $125K
President Biden yesterday announced a new package of student debt relief that will forgive $10,000 in debt for millions of borrowers.
Per the President’s announcement, the $10,000 debt relief will be limited to borrowers earning less than $125,000 per year, or households earning less than $250,000. Biden also said his administration would cancel $20,000 in debt for Pell grant recipients. In addition, the White House plans to extend the moratorium on monthly payments and interest on student loans one “final” time through December 31st, according to a tweet from the President.
The new December 31st moratorium marks the seventh extension of the student loan payment freeze since it was first put in place during the beginning of the Covid-19 pandemic in March 2020. The latest pause in loan repayments is set to expire six days from today, on August 31st.
Jury awards Vanessa Bryant $16M in case over photos of helicopter crash
Vanessa Bryant was awarded $16M in damages in a case over photos taken of the 2020 helicopter crash that claimed the lives of her husband Kobe Bryant, their daughter Gianna, and seven others.
Bryant and Christopher Chester, a financial adviser who lost his wife and daughter in the same crash, argued that Los Angeles County’s taking and sharing of the photos caused emotional distress and violated their constitutional rights. While the two co-plaintiffs' attorneys asked the jury for damages of up to $42.5M for Bryant and $32.5M for Chester, Los Angeles County argued that it took appropriate measures to investigate and delete the photos and prevent them from ever spreading.
After an 11-day trial, the jury found Los Angeles County liable for damages and awarded the co-plaintiffs a total of $31M–$16M for Bryant, and $15M for Chester.
Tiger Woods and Rory McIlroy launch a new golf league
According to an announcement from the PGA Tour, golfers Tiger Woods and Rory McIlroy are launching the “tech-infused” TGL golf league through their TMRW Sports group.
In a press release, the PGA Tour said it had partnered with TMRW Sports to “showcase team matches fusing advanced tech and live action from a custom-built venue.” In the same release, Tiger Woods said that he is “excited about blending golf with technology,” while McIlroy likened the league to “sitting courtside at an NBA game.” The TGL is set to begin in January 2024 with six teams made up of three PGA Tour players each, with Woods and McIlroy being the first to commit.
The establishment of the TGL comes amid legal disputes between the PGA Tour and LIV Golf, a new golf circuit backed by Saudi Arabia’s sovereign wealth fund that has drawn golfers such as Phil Mickelson and others away from the Tour.
Around the Globe
- Ukrainian President Volodymyr Zelensky said that Russian forces launched a rocket attack on a train station in central Ukraine that claimed the lives of 15 and left 50 others wounded on the country’s Independence Day
- Peru's consumer protection agency is suing Spanish oil firm Repsol for $4.5B over an oil spill that occurred off the coast of Lima in January and leaked over 10,000 barrels into the Pacific Ocean
- Pakistan has appealed for international assistance with relief efforts in the aftermath of rain-induced floods that left more than 800 people dead last month, according to officials
On the Homefront
- Home prices declined by 0.77% from June to July, according to mortgage software, data, and analytics firm Black Knight; it is the first monthly decline in home prices in almost three years and the largest single-month drop since January 2011
- The California Air Resources Board will vote today on a rule requiring all new vehicles to be fossil-fuel-free by 2035; the decision comes after state Governor Gavin Newsom issued an executive order in 2020 calling for the ban of gas vehicles by that same target year
- Ghislaine Maxwell’s Denver-based trial lawyers are suing her family for over $875K in unpaid legal bills, alleging that Maxwell’s family conspired to hide her true wealth
Glitz & Games
- Incarcerated former film producer Harvey Weinstein was granted a request to appeal his rape and sexual assault conviction to New York’s Court of Appeals
- Former Seattle Seahawks linebacker Shaquem Griffin announced he is retiring from the NFL; Griffin became the first player with one hand to be drafted in the NFL’s modern era when the Seahawks chose him in the fifth round in 2018
- The sequels to Aquaman and Shazam! have pushed back their release dates as part of a reshuffling at parent studio Warner Bros.
Business & Markets
- Major indexes in the stock market closed slightly higher, with the Dow and S&P 500 ending three consecutive days of losses (Dow +0.18%, Nasdaq +0.41%, S&P 500 +0.29%)
- Peloton has partnered with Amazon to sell its Bikes, accessories, and apparel on Amazon’s platform; the deal also includes Bike delivery to most of the country through Amazon’s logistics and fulfillment network
- Cloud data platform provider Snowflake (NYSE: SNOW) reported revenue of $497M in their Q2 earnings report; shares rose by as much as 17% in after-hours trading yesterday
Tip & Tricks
- Binge Watch: The Oppenheim brothers are back (along with a whole lot of drama) in the new real estate reality series Selling The OC on Netflix
- Bump This: Tyler Hubbard line dances away from his duo Florida Georgia Line in the new track “Dancin’ In The Country” - listen on Apple Music and Spotify
- Chow Down: If you’re in the mood for dessert for breakfast, check out this recipe for PB&J overnight oats with a magic shell on top
- Nerd Out: Read about how NASA plans to intentionally crash its DART spacecraft into an asteroid next month as a planetary defense strategy for the first time in history (sorry, Armageddon fans–the asteroid poses no threat to Earth)
- Say What: “I hated that this nastiness distracted from the work of so many different people and the studio that I was up there representing. To try to sabotage that was really vicious. But I had a job to do; I’m not easily distracted. But, you know, sadly, it was not something that was entirely surprising to me. I mean, there’s a reason I left that relationship,” Olivia Wilde said in an interview with Variety regarding being served custody papers while onstage at CinemaCon in April
- Hot Goss: Kim Kardashian is reportedly ready to date again and looking for someone older following her split from Pete Davidson (just don’t tell Kanye)
- Life Hack: Practicing saying “no” to things you can’t or don’t want to do helps exercise your assertiveness in a simple yet effective way
Looking Back…
On August 25th: President Woodrow Wilson establishes the National Park Service by signing the “Organic Act” (1916); Lauryn Hill releases her debut album The Miseducation of Lauryn Hill (1998); U.S. Senator John McCain dies at age 81 (2018); film director Tim Burton is born (1954).
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