Your Daily Brief

November 23rd, 2022

Good morning, and welcome to your Wednesday! We’ll be taking tomorrow and Friday off to spend the Thanksgiving holiday with our families, so you won’t be seeing us in your inbox until the morning of Monday, November 28th. Shh…it’s okay. We know you’ll miss us terribly, but like Arnold says in nearly all of his movies: we’ll be back.

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In Today’s Brief

  • Fauci: Gives final White House briefing
  • World Cup: Saudi Arabia beats Argentina 
  • France: World’s largest goldfish caught

    ...and more

Ronaldo leaves Manchester United

Cristiano Ronaldo is leaving Manchester United with immediate effect by “mutual agreement,” according to an announcement from the English Premier League club yesterday.

Ronaldo played for Manchester United from 2003-2009 and returned to the team in 2021. The mutual decision for him to leave comes shortly after Ronaldo spoke out against Manchester United and the team’s coach, Erik ten Hag, in an interview with Piers Morgan. In a statement announcing the decision, Manchester United said, “The club thanks [Ronaldo] for his immense contribution across two spells at Old Trafford, scoring 145 goals in 346 appearances, and wishes him and his family well for the future.”

Now a free agent, Ronaldo is one of the highest-paid soccer players in the world and is the most-followed person on Instagram, with over 500M followers. He is currently competing for Portugal’s national team in the 2022 FIFA World Cup in Qatar, and the team is scheduled to play Ghana tomorrow.

Trump’s tax returns

The U.S. Supreme Court rejected a bid by former President Donald Trump to prevent Congress from obtaining his federal income tax returns and those of his business entities from the IRS.

In 2019, the House Ways and Means panel requested access to six years of Trump’s tax returns as part of an investigation into the IRS’ audit program and the former president’s tax law compliance. Trump filed an emergency application at the Supreme Court on October 31st to block the release of his tax information, with his lawyers writing in the filing: “This case raises important questions about the separation of powers that will affect every future President.”

On November 1st, Chief Justice John Roberts imposed a temporary freeze to allow the court to weigh the issues raised by the former president’s lawyers and counterarguments from the House of Representatives. Yesterday, the court lifted Roberts’ order with no noted dissents.

Payment pause on student debt extended

As President Joe Biden’s student debt forgiveness plan remains blocked in court, the Biden administration said it would extend the payment pause on federal student loans.

In a video message, President Biden said that "the Department of Justice is asking the Supreme Court to rule on the case,” adding that “the Secretary of Education is extending the pause on student loan payments while we seek relief from the courts.” According to the Education Department, the pause on payments will resume either 60 days after the Supreme Court issues a decision on the program or 60 days after June 30th, depending on which date comes first.

In August, the White House announced a student debt forgiveness plan for Americans whose annual earnings don’t exceed certain thresholds. Biden previously extended the payment pause on student debt to December 31st, and at the time, said the extension would be the last.

Around the Globe

  • Brazilian outgoing President Jair Bolsonaro challenged the election he lost last month to rival Luiz Inacio Lula da Silva, with his party asking the country’s electoral court to reject ballots from certain voting machines it claims were compromised during elections
  • The death toll from yesterday’s magnitude 5.6 earthquake in West Java has risen to 268 individuals, with 151 still missing and over 1,000 injured, according to Indonesian officials
  • New Zealand’s central bank raised interest rates by 75 basis points to 4.25% and said that additional hikes would come; the increase marks the country’s ninth straight hike since it began tightening monetary policy in October 2021, and rates are now at their highest levels in nearly 14 years

On the Homefront

  • A Senate antitrust panel will hold a hearing on Ticketmaster and the lack of competition in the ticketing industry following the company’s problems last week managing the sale of tickets for Taylor Swift’s upcoming Eras tour, according to remarks from panel chair Senator Amy Klobuchar
  • Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID) and Chief Medical Advisor to the President of the United States, delivered his final White House briefing yesterday before departing his official government positions
  • 22-year-old Anderson Lee Aldrich–the suspect in the shooting that left five people dead and wounded 17 at a Colorado LGBTQ nightclub over the weekend–was transferred to jail from the hospital where he was in police custody and is scheduled to face a judge today

Glitz & Games

  • The Saudi Arabian national men’s soccer team beat Argentina with a score of 2-1 in the opening game of Group C of the 2022 World Cup tournament in Qatar; Argentina was undefeated in their previous 36 games heading into the tournament
  • Michael Lewis, author of Moneyball, The Big Short, and Flash Boys, is reportedly nearing a deal for Apple to acquire the rights to his book on the collapse of cryptocurrency exchange FTX and its founder and former CEO Sam Bankman-Fried
  • Manchester United said that its owners have started the process of exploring “strategic alternatives for the club” to enhance its growth, including new investment into it or a potential sale, according to a statement its owners published yesterday - see the club’s statement

Business & Markets

  • Major indexes in the stock market ended yesterday’s trading session higher, with the S&P 500 closing up past 4,000 (Dow +1.18%, Nasdaq +1.36%, S&P 500 +1.36%)
  • Computer and printer maker HP said it would lay off about 4,000 to 6,000 employees as part of a transformation plan that aims to achieve $1.4B in annualized cost savings; the figure represents nearly 10% of the company’s total workforce
  • Abercrombie & Fitch Co. stock (NYSE: ANF) closed 21.65% higher after the company reported that quarterly sales at its Abercrombie brand increased by 10% during its Q3 earnings call; yesterday’s price action marks the stock’s largest single-day gain in two years

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Tip & Tricks

  • Bump This: Up-and-coming singer-songwriter Stephen Dawes puts a melancholic folk spin on the Katy Perry classic “Teenage Dream” - listen on Apple Music and Spotify
  • Go Deep: Read about a new study that suggests martial artist and film star Bruce Lee may have died from drinking too much water instead of from cerebral edema, which officials ruled was the cause of his death at the time - read the published report here
  • Jaw Drop: Take a look at the world’s largest goldfish weighing in at 67 pounds and 4 ounces that British angler Andy Hackett caught in a fishery in France; Hackett said it took him 25 minutes to reel the fish in, and he released it back into the water after snapping his photos (you’ll have to see this one to believe it, folks)
  • Look Up: Check out this image that a camera mounted on the tip of one of Orion’s solar array wings snapped of NASA’s Orion capsule approaching the Moon in the distance
  • Say What: “I believe that grace is very real, and we all need a dose of it. And before we point fingers at anybody, we should realize how grateful we are for every moment that we get, for even our own things that we have. I just think it’s important to remember to be human. We are humans,” singer Kelly Rowland said following her acceptance of Chris Brown’s award for Favorite Male R&B Artist at the 2022 American Music Awards on Sunday evening 
  • Hot Goss: Charles Barkley revealed he hasn’t spoken to his former best friend Michael Jordan in over 10 years following Barkley saying something that Jordan didn’t like (here’s to hoping these two crazy kids work things out)
  • Life Hack: You may not be Wim “The Iceman” Hof, but you can still do your body good with some cold exposure once in a while - here are four proven benefits of ice baths that have been extensively studied in scientific research

Looking Back…

On November 23rd: The Battle of Chattanooga between Union and Confederate forces during the American Civil War begins (1863); the first issue of Life magazine is published (1936); British science-fiction series Doctor Who airs on television for the first time (1963); American outlaw Billy the Kid is born (1859).

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