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Your Daily BriefSeptember 15th, 2022 |
Good morning, and happy Thursday! Did you know that on top of containing more fat than any other fruit, avocados don’t ripen while they are still attached to the tree? This is why avocados stay in season all year long, and why guacamole is–in our opinion–the perfect snack for any party. Anyway, now that we’ve got your mouth watering, here’s what we have for you:
In Today’s Brief
- Jordan: Residential building collapses in Amman for unknown reasons
- California: Suing Amazon over third-party contracting
- Property Brothers: Sign a new exclusive multi-year deal with HGTV
- Mortgages: U.S. rates top 6% for the first time since 2008
- AI: New paper from Oxford and Google DeepMind details the threat AI poses to humanity
- Top Tips: EU upholds antitrust ruling against Google parent company Alphabet; NFL sees 50% fewer concussions in players who wore experimental helmet gear this preseason; founder of Patagonia gives company away in support of climate-related ventures
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Google loses appeal to European Union antitrust ruling
The European Union’s General Court upheld an antitrust ruling yesterday against Google’s parent company, Alphabet, that was brought forth in 2018.
Though the court rejected Alphabet’s appeal of the ruling, it reduced its fine to €4.125B (or about $4.12B) from €4.34B. The European Commission issued the initial fine in 2018 when the Commission found that Alphabet abused its market dominance by forcing Android smartphone makers to pre-install Google’s Search and Chrome in a bundle with its app store, Play, in order to sell them.
According to the Commission, around 80% of Europeans used Android devices at the time of the original fine. Taking yesterday’s reduction into account, the penalty is still the largest Alphabet has faced, and a record figure for an antitrust violation. The EU antitrust enforcer has fined the company more than €8B as part of three penalties between 2017 and 2019.
NFL saw 50% fewer concussions in players who wore Guardian Caps this summer
According to data released yesterday, concussions among NFL players who wore new Guardian Cap equipment on their helmets this summer dropped by over 50% compared to the previous three-year average.
In June, the NFL mandated that tight ends, linebackers, and linemen wear the soft-shell pad over their helmets from the start of training camp up to the second preseason game. The league saw 11 concussions in players at those positions during the offseason, compared to the average of 23 recorded over the past three years. Of those 11 concussions, six resulted from hits to the face mask, which the Guardian Cap doesn’t protect.
While NFL Executive VP of Communications Jeff Miller said the Guardian Caps “exceeded our expectations in terms of concussion numbers” and added that concussions for players in other positions remained flat, the gear has received mixed reviews from players and coaches who question its effectiveness and aesthetic.
Patagonia founder gives away company to aid environmental causes
Patagonia founder Yvon Chouinard announced that he and his family have given away their entire stake in the outdoor apparel company to aid environmental causes.
According to Chouinard, all shares of the nearly 50-year-old outdoor clothing brand’s non-voting stock–worth close to $3B–will be owned by a climate-focused trust and a group of nonprofit organizations created to preserve the company’s independence. As part of the agreement, all of Patagonia’s profits (roughly $100M per year) will be used to aid climate-related causes and protect undeveloped land around the world.
Founded in 1973 and based in California, Patagonia sells hiking and other outdoor clothing in over 10 countries. Its estimated revenue this year was $1.5B, while Chouinard's net worth is estimated at around $1.2B. Prior to the transfer of ownership, the company had already committed to sustainable practices and was donating 1% of its yearly profits to grassroots activists.
Around the Globe
- Ukrainian President Volodymyr Zelensky visited the northeastern city of Izyum in the country’s Kharkiv region, which Ukrainian forces recaptured from Russian control over the weekend
- At least five people have died and at least 10 others remain missing after a four-story residential building collapsed for unknown reasons in Jordan’s capital of Amman; eight have been injured and one individual has been rescued from the rubble, per officials
- Swedish Prime Minister Magdalena Andersson said she will resign after her center-left coalition was defeated in Sunday’s election; Andersson was the nation’s first female prime minister, and Moderate Party leader Ulf Kristersson is now expected to form a government
On the Homefront
- A Northeastern University employee in Boston was injured when a package delivered to the school’s Holmes Hall detonated, according to law enforcement and school officials; a second similar package was “rendered safe” by the department's bomb squad afterward
- California has filed a lawsuit against Amazon for requiring merchants to enter agreements that penalize them if they offer their products elsewhere for lower prices, alleging antitrust violations
- Starting today, Amtrak said it will temporarily cancel all of its long-distance trains due to a potential work stoppage on freight railroads whose tracks it uses that could begin tomorrow
Glitz & Games
- Grammy-nominated R&B singer Jesse Powell passed away yesterday at age 51, according to social media posts from his sisters
- Drew and Jonathan Scott of the Property Brothers have signed a new, multi-year exclusive deal with HGTV; the brothers will also develop additional home-related series and digital content in partnership with Warner Bros. Discovery through their Scott Brothers Entertainment banner
- Singer R. Kelly was convicted by a federal jury in Chicago that found him guilty of several child pornography and sex abuse charges
Business & Markets
- Major indexes in the stock market ended slightly higher after experiencing their steepest single-day losses since June 2020 (Dow +0.10%, Nasdaq +0.74%, S&P 500 +0.34%)
- The average contract rate on a 30-year fixed-rate mortgage in the United States rose last week by 7 basis points to 6.01%; the increase marks the first time that U.S. mortgage rates have passed 6% since 2008
- Netflix Animation has laid off 30 employees as part of another round of layoffs at the streaming company
Tip & Tricks
- Sneak Peek: Watch the official teaser trailer for the upcoming remake of Disney’s The Little Mermaid, featuring a goosebumps-inducing rendition of “Part of Your World”
- Bump This: John Legend ditches his trademark piano for electric guitar in “Wonder Woman” off his new album LEGEND - listen on Apple Music and Spotify
- Chow Down: Craving enchiladas but don’t feel like rolling up tortillas? Take a look at this recipe for chicken enchilada skillet casserole that only requires one pan for cooking
- Go Deep: Read about how AI may be the undoing of humanity, according to a paper co-authored by the University of Oxford and Google DeepMind researchers published last month in the peer-reviewed AI Magazine (didn’t James Cameron predict that in the Terminator franchise?)
- Say What: “I love this league and I deeply respect our leadership. But this isn’t right. There is no place for misogyny, sexism, and racism in any work place. Don’t matter if you own the team or play for the team. We hold our league up as an example of our values and this aint it,” LeBron James said in a tweet regarding Robert Sarver’s recent fine and suspension from the NBA
- Hot Goss: Leonardo DiCaprio, 47, and model Gigi Hadid, 27, are fueling rumors of a budding romance after being spotted together at a New York restaurant this week
- Life Hack: If you’re feeling foggy today, try taking a quick nap - some benefits of napping include boosted memory, improved logical reasoning ability, and stress relief
Looking Back…
On September 15th: General Stonewall Jackson leads Confederate forces to capture Harper’s Ferry in now-West Virginia in the American Civil War (1862); the tank is used for the first time in combat (1916); Muhammad Ali defeats Leon Spinks to win the world heavyweight boxing championship for the third time (1978); author Agatha Christie is born (1890).
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