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Here are the headlines you Need2Know for Thursday, November 11, 2021:
INFLATION WATCH
Consumer prices surged in October at the fastest pace since 1990, according to data from the Labor Dept. that shows inflation approaching 7% in the U.S. The consumer price index rose 6.2% last month from a year earlier, reflecting higher prices on everything from groceries to gas to cars. Inflation is also accelerating on a monthly basis well above economists’ expectations, wiping out the recent increases in wages. President Biden acknowledged that the situation was hurting regular Americans and called it a “top priority” of his administration to reverse the trend. CHEDDAR
CLIMATE PLEDGE
The climate negotiations at the COP26 summit in Glasgow are entering their final stretch on an optimistic note after the U.S. and China made a surprise announcement pledging to work together to slow warming this decade. China also committed for the first time to reduce methane emissions. While the agreement between the world’s two biggest polluters was short on specifics, it’s seen as a positive step as negotiators try to hammer out a final agreement by tomorrow. BBC
RITTENHOUSE TAKES STAND
The murder trial of Kyle Rittenhouse is in possible jeopardy after the defense asked for a mistrial, following moves by the prosecution that enraged the judge. Rittenhouse took the stand in his own defense, breaking down in tears as he testified that he acted in self-defense when he shot three men, killing two of them, during the unrest in Kenosha last summer. In cross-examination, the lead prosecutor asked Rittenhouse about his decision to remain silent after his arrest. That led the judge to usher the jury out of the room while he angrily accused the prosecution of an improper line of questioning. AP
COVID & KIDS
The White House says nearly one million children have received a Covid vaccine in the first week of eligibility, and estimates another 700,000 have appointments for their first dose. Those are encouraging numbers for the pediatric vaccine rollout, though still only account for a fraction of the 28 million or so kids now eligible. Meanwhile, a federal judge has overturned Texas’ ban on mask mandates in schools as a violation of the ADA, freeing up school districts in that state to make their own policies. TEXAS TRIB
RIVIAN GOES PUBLIC
Shares of the electric-truck maker Rivian surged in their public debut, popping 30% for the biggest IPO in years. The company is now valued at $88 billion -- on par with GM -- even though it’s only built a couple hundred vehicles and is yet to turn a profit. The blowout IPO suggests the intense investor interest in EV stocks is nowhere close to running out of steam. CHEDDAR
YOUTUBE HIDES DISLIKES
YouTube has started removing the ‘dislike’ count on all videos across the site, making a previous experiment with hiding dislikes permanent. Users can still click the thumbs-down button to signal their displeasure with a video, but only the creator will see it. YouTube says the change is intended to protect creators, particularly smaller accounts, from harassment in the form of so-called “dislike attacks” -- when people team up to drive up the number of dislikes on a video. And if you’re wondering what the most disliked video on all of YouTube is? Currently, it’s YouTube’s own Rewind video for 2018. TECHCRUNCH
NFL FINES
Dallas Cowboys wide receiver CeeDee Lamb admitted that he’s “confused” by the NFL’s fining policy, after he’s accrued nearly $50,000 in violations this season for infractions like having his jersey untucked and waving after a touchdown. Meanwhile, Green Bay Packers QB Aaron Rodgers was fined a modest $14,650 this week for violating the league’s Covid protocols as an unvaccinated player. ESPN
STREAMING SLOWDOWN
Disney+ added just two million new subscribers in the most recent quarter, a significant slowdown from the prior quarter, which saw 12 million new sign-ups. Disney joins WarnerMedia and ViacomCBS in reporting slowing growth on their streaming services as more people venture out. (Netflix is the only big platform to buck the trend with a bounce back in subscribers thanks in part to shows like Squid Game). Disney’s theme parks, meanwhile, are crushing it. Revenue is up 99% and its newest attraction, the Star Wars hotel at Disney World, is booked solid for its first four months. DEADLINE
SPOTTED...
…Zendaya, in a red Vera Wang top and matching bubble skirt at the CFDA Awards, where she was honored with the Fashion Icon award: SEE PICS
...the Duke and Duchess of Sussex, making a rare red carpet appearance at the Salute to Freedom gala in NYC: SEE PICS
...TJ Osborne, the only openly gay artist signed to a major country music label, kissing his boyfriend at the CMAs nine months after coming out: SEE IT
LEFTOVERS: VETS DAY FREEBIES
Today is Veterans Day in the U.S., a day for commemorating and thanking those who served in the military. For vets and active-service military, it’s also a day to flex that military ID for free food. Starbucks is giving away free coffee, Dunkin’s got free donuts, IHOP has free pancakes and Outback’s handing out free bloomin’ onions for those who have served: SEE MORE
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