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Here are the headlines you Need2Know for Friday, April 1, 2022:
Happy April Fools' Day everyone! Stay sharp out there!
BIDEN’S OIL ORDER
President Joe Biden ordered the release of 1 million barrels of oil per day for the next six months from the nation’s strategic petroleum reserve. Biden took action with hopes to control energy prices and ease the pressure at the pump for Americans. He says the decline in gas prices could be “anything from 10 cents to 35 cents a gallon.” AAA reports that the national average price for gas is about $4.21 a gallon, compared to $2.87 a year ago. CHEDDAR
Remember paying $2.87 for gas? Neither do we.
INSULIN VOTE
The House has voted to cap insulin prices at $35 for those with private health insurance or Medicare. The cost of the life-saving drug has skyrocketed in the last decade - doubling between 2012 and 2016 - even though the medication has been around for a century. The vote passed largely along party lines, with critics saying it doesn't address the underlying problem of soaring prescription rates. Now the bill moves to the Senate, where it's unclear whether it'll gather the votes it needs to overcome a filibuster. THE HILL
UKRAINE UPDATE
A British surveillance official reported that the Russian military is struggling with low morale and weapons shortages, and may be leaning on mercenaries for combat support. The U.S. has added sanctions on Russian tech companies in an attempt to target Putin's military supply chains. Meanwhile, Russia handed control of the Chernobyl nuclear power plant back to Ukraine. Talks are slated to continue today. NY TIMES
GENDER X PASSPORTS
U.S. citizens will soon have the option to choose the gender-neutral marker ‘X’ on their passports. The State Department made the announcement on the Transgender Day of Visibility, though the change kicks in on April 11. The move intends to make federal documents more inclusive, in addition to making traveling an easier experience for transgender people. CHEDDAR
INFLATION SOARS
Inflation jumped 6.4% in February, marking the biggest year-to-year rise in 40 years. The combination of less consumer spending, supply shortages, and price hikes is behind the spike and doesn’t even account for the bulk of the economic effects of the war in Ukraine, which began on February 24. CHEDDAR
We’ve hit the “we weren’t even alive the last time it was this high” phase of inflation.
HUNTER BIDEN INVESTIGATION
The investigation into President Joe Biden's son, Hunter Biden, has reportedly intensified as investigators look into payments he received while on the Board of Burisma, a Ukrainian gas company, and legal fees he received from an employee of a Chinese energy company. But the thing everyone is talking about is a laptop - was it Hunter's? Did it have damning evidence on it? House Republicans are launching an investigation into Twitter and Facebook, alleging they suppressed a New York Post article on the device and its contents weeks before the 2020 election. ABC NEWS
AMAZON UNIONIZATION OUTLOOK
Workers at an Amazon warehouse in Staten Island voted on unionization this week and are now awaiting the results, which could come in today. The facility employs about 6,000 workers, so the count is far from over. A unionization vote was also underway at an Amazon facility in Bessemer, Alabama. As the voting was underway, Comparably dropped its 2022 list of employers with the best company culture and Amazing dropped off the list, along with others in big tech like Meta and Apple (which were 13, 7, and 14, respectively last year). Cheddar’s Alex Vuocolo went to Staten Island this week to check out the scene and see how employees were dealing with the crucial vote that has the workplace split. CHEDDAR
“Fuhgeddaboudit,” and, “Hey, I’m working here!” were the most common responses.
JENNER JOINS FOX NEWS
Caitlyn Jenner made her first appearance as a Fox News contributor last night on "Hannity." Jenner, who was formerly known as Bruce before transitioning in 2015, is a former Olympic gold medalist, reality television star, and GOP candidate for governor in California. Also joining the contributor circuit is Mick Mulvaney, former congressman and aide to President Trump, who was snapped up by CBS News ahead of the midterm elections. DEADLINE
GAMESTOP STOCK SPLIT
It didn’t take long for meme stocks to grab headlines again, as GameStop is now requesting shareholder approval of a stock split. The announcement led shares to surge over 15% in premarket trading. GameStop’s stock was already enjoying a red-hot March, thanks, in part, to the company’s chairman doubling down with a purchase of 100,000 additional shares. GME is up 40% just in the past month. CNBC
Great. This almost covers our inflation.
MAPLE SYRUP HEIST
Justice has been served and it’s sticky. Canada's highest court ruled that Richard Vallières must pay a $9 million fine for stealing more than $18 million in maple syrup from a production warehouse. In fact, so much was stolen in 2011-2012 that the heist actually put a dent in the global supply of maple syrup. Vallières is currently serving an eight-year sentence for the crime, and must pay the fine within 10 years to avoid more jail time. CBC
Looks like we need a new syrup guy.
BECAUSE WE'RE ALL WATCHING SOMETHING THIS WEEKEND…
Looking for something to watch this weekend? Cheddar's Digital Team has you covered! Every week we share what we're streaming to help you find something good. This week our recommendations include sci-fi, adult animation, kids animation, and basketball that’s NOT the Final Four. CHEDDAR
**LOVE **HATE **ATE
One thing we love: Daniel Radcliffe, after he said he is “dramatically bored” of people’s opinions on the Will Smith slap.
One thing we hate: Poor-connection Zoom calls. The absolute worst.
One thing we ate: Carolina barbecue, in honor of that basketball game happening tomorrow.
Need2Know Podcast Note: The Need2Know podcast is taking a break for now. We're looking forward to bringing you more context and analysis on the big stories of the day in a few weeks. In the meantime, check out our archive on Apple or Spotify, or watch on YouTube, and send us your feedback!
