Your Daily Brief

December 1st, 2022

Good morning, and happy Thursday! While you were busy living your life, the French baguette was awarded special protection status with a spot on the United Nations' list of Intangible Cultural Heritage. It now keeps company with other culinary items like Neapolitan pizza, kimchi, and Arabic coffee…but hey, where’s the love for the croissant?

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In Today’s Brief

  • House of Reps: Hakeem Jeffries makes history
  • Aaron JudgeFielding Yankees offer
  • DoorDash: Laying off 6% of staff

    ...and more


Alzheimer’s drug trial results

Results from a phase 3 clinical trial showed that an experimental drug to treat Alzheimer’s disease helped slow cognitive decline but may carry a risk of adverse side effects.

Japanese pharmaceutical company Eisai and American biotech company Biogen conducted the trial to test lecanemab, which the companies have claimed reduces the rate of cognitive decline on a clinical dementia scale by 27% compared to a placebo. According to the recent study published in the New England Journal of Medicine, the drug “reduced markers of amyloid in early Alzheimer’s disease and resulted in moderately less decline on measures of cognition and function than placebo at 18 months but was associated with adverse events.”

The trial enrolled nearly 1,800 participants with early-stage Alzheimer’s. While the Alzheimer's Association said the data confirms that lecanemab “can meaningfully change the course of the disease,” trial results showed that nearly 13% of patients who received it experienced brain swelling.

House passes bill to avert rail strike

To avert a potential rail strike, the House of Representatives passed a resolution that would force unions to accept a tentative agreement reached earlier this year between railroad managers and their workers.

Lawmakers voted 290-137 to pass the measure, which provides workers with 24% raises over five years and allows them to take time off for medical appointments without being penalized. House members also voted 221-207 to pass a separate measure that would give rail workers seven days of paid sick leave per year, which was one of the concerns that unions had with the tentative agreement that the White House brokered in September.

President Biden praised the House and said that “without action this week, disruptions to our auto supply chains, our ability to move food to tables, and our ability to remove hazardous waste from gasoline refineries will begin,” adding that the “Senate must move quickly” to send a bill to his desk to be signed into law.

Fleetwood Mac’s Christine McVie dies

Christine McVie, who sang and played keyboard in the British-American rock band Fleetwood Mac, passed away at age 79, according to a statement from her family.

In a statement posted to Facebook, the band said: “There are no words to describe our sadness at the passing of Christine McVie. She was truly one-of-a-kind, special and talented beyond measure. She was the best musician anyone could have in their band and the best friend anyone could have in their life.” While a cause of death was not given, McVie’s family said that she died at a hospital “following a short illness.”

McVie joined Fleetwood Mac in 1970 and remained part of the band until her departure following their 1998 reunion tour, and rejoined in 2014. She penned and sang several songs in the band’s catalog, including “Everywhere,” “Say You Love Me,” “You Make Loving Fun,” “Don’t Stop,” and “Little Lies.”

Around the Globe

  • China’s former leader Jiang Zemin, who came to power after the 1989 Tiananmen Square protests, passed away at age 96 from leukemia and multiple organ failure, per a statement from the Chinese Communist Party (More)
  • Global police agency Interpol issued a red notice arrest alert for Isabel dos Santos, daughter of the country's former president, who Angola’s government accused of steering state funds to companies in which they held stakes during her father's presidency (More)
  • Islamic State group leader Abu Hasan al-Hashimi al-Qurashi reportedly “died in battle” recently, according to an audio message from ISIS spokesperson Abu Omar al-Muhajer; per al-Muhajer’s message, the group’s new leader will be Abu al-Hussein al-Husseini al-Qurashi (More)

On the Homefront

  • House Democrats voted to elect NY Representative Hakeem Jeffries as Minority Leader in the next Congress, replacing Speaker Nancy Pelosi; Jeffries will be the first African American to serve as House Democratic leader (More)
  • Two people in Alabama lost their lives in tornadoes fueled by higher-than-normal temperatures in the South; meteorologists reported a total of 73 tornado warnings and 120 severe thunderstorm warnings were issued from Tuesday afternoon to yesterday morning in the stretch between Louisiana through Alabama (More)
  • Federal Reserve Chair Jerome Powell indicated the U.S. central bank is on track to raise interest rates by 0.50% (or 50 basis points) at its next meeting following four consecutive rate hikes of 0.75% each (More)

Glitz & Games

  • Puerto Rican rapper Bad Bunny earned the title of Spotify’s most-streamed artist of 2022 for the third consecutive year; the rapper generated 18.5B streams this year so far, per data from Spotify (More)
  • The New York Yankees have reportedly offered American League MVP Aaron Judge an eight-year contract worth around $300M; if agreed upon, the deal would give Judge, 30, the highest annual salary for a position player in the history of Major League Baseball (More)
  • The Australian men’s national soccer team beat Denmark’s team with a final score of 1-0 to advance to the World Cup’s knockout stages; the results mark Australia’s first time reaching the tournament’s knockout stage since 2006 (More)

Business & Markets

  • Stocks rose in the latter half of yesterday’s trading session after Fed Chair Jerome Powell signaled smaller rate hikes ahead, with the tech-heavy Nasdaq leading the gains (Dow +2.17%, Nasdaq +4.41%, S&P 500 +3.08%)
  • Food delivery software company DoorDash announced that it is cutting around 1,250 corporate employees, with CEO Tony Xu saying in a company-wide memo that it grew too quickly during the Covid-19 pandemic (More)
  • Cryptocurrency exchange Kraken has laid off 1,100 employees, or 30% of its total staff, citing “significantly lower trading volumes and fewer client sign-ups” this year (More)

3 out of 4 households have unsafe tap water

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Tip & Tricks

  • Bump This: Morrissey–yes, that Morrissey, of the Smiths–channels an uncharacteristically cheerful vibe in his new single “Rebels Without Applause”  - listen on Apple Music and Spotify
  • Chow Down: Ring in the first night of December with this recipe for vegan hot chocolate that’s just as healthy as it is delicious (you’ll never buy hot chocolate packets again after this one…trust us)
  • Go Deep: Read up on how San Francisco’s ruling Board of Supervisors passed a measure that permits police to deploy robots equipped with explosives in “extreme circumstances” (More)
  • Jaw Drop: Check out this aerial video footage of the Mauna Loa eruption, which is still taking place on Hawaii’s Big Island after beginning late Sunday night
  • Say What: “Look, I've had a bad month,” Sam-Bankman Fried said in an interview with Aaron Ross Sorkin at the New York Times’ DealBook Summit regarding the collapse of cryptocurrency exchange FTX and trading firm Alameda Research, both of which he founded 
  • Hot Goss: Country singer Jake Flint reportedly passed away in his sleep at age 37 just hours after his wedding to wife Brenda Flint (More)
  • Life Hack: While your metabolism is highly personal, it’s also malleable and should be treated with a unique approach that works for you - here are 10 pragmatic strategies to improve your metabolic health in sustainable ways

Looking Back…

On December 1st: Rosa Parks is arrested after she refuses to give up her bus seat in Montogomery, AL (1955); Ford Motor Company institutes the world's first moving assembly line for the Model T (1913); Hugh Hefner publishes the first edition of Playboy magazine featuring Marilyn Monroe as the centerfold (1953); American actress and singer Bette Midler is born (1945).

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