Get the Need2Know newsletter in your inbox every morning! Sign up here!

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

Listen to the N2K Podcast! Looking for more context and analysis on the big stories of the day? Check out our podcast! Hosts Jill and Carlo break down the headlines, every weekday morning Listen on Apple or Spotify, or watch on YouTube, and send us your feedback!

Share:
More In Culture
Addressing Arguments Against Student Debt Forgiveness as Biden Makes Changes
The Biden administration is making changes to federal student loan programs, bringing more than 3.6 million people closer to debt forgiveness under the new rules, providing 40,000 with immediate debt cancellation, and allowing several thousand more with older loans to get some relief. Rob Franek, Editor-In-Chief of the Princeton Review, joined Cheddar News to break down how these changes might impact the lives of student loan borrowers and addresses some of the pushback against doing even more. "This is not a bankruptcy bailout of industries that are supporting the American economy," he said. These are for students right now who would otherwise be hobbled financially if they didn't experience some sort of forgiveness overall."
Rights of Nature Says Nature Has Basic Rights to Exist
An increasing number of countries are recognizing "Rights of Nature", a legal movement that says ecosystems and species have basic rights to exist and flourish. Grant Wilson, executive director at Earth Law Center joins Cheddar News to explain what the movement is aiming to achieve.
House GOP Asks Twitter Board to Preserve Records of Elon Musk's Purchase Bid
The saga surrounding Elon Musk's bid to buy Twitter has made its way to Washington, DC. A group of 18 House Republicans are calling on the social media platform's board to preserve all records and documents related to the company's response to the offer from the Tesla CEO. Caleb Silver, editor in chief of Investopedia, joined Closing Bell to discuss. "This is a long term play, but it's just a shot across the bow by congressional Republicans, who probably will end up taking the House, that they're going to be tough on Big Tech and they're going use Musk's bid for twitter to take it private, so that he can get the platform to be open source and remove its censorship."
Tech Firms Like Alphabet, Meta Commit $925M to Carbon Removal Initiative Frontier
Removing carbon from our atmosphere has become a goal for scientists and entrepreneurs around the world, and while many have begun to develop promising technology solutions, a few big names in tech, including Stripe, Alphabet, Shopify, Meta and McKinsey, are committing nearly $1 billion dollars to fund carbon removal technology through 2030 through a new initiative called Frontier, an advanced market commitment to incentive following through on development. Hannah Bebbington, the head of strategy for Frontier, joined Cheddar News to discuss. "What Frontier aims to do is help get this market on track by sending that strong demand signal such that we can scale up capacity really significantly in the next couple of years," she said.
Autumn Peltier to Canada: Less Talk, More Action on Clean Water Access
Autumn Peltier, an indigenous water activist, joined Cheddar News to talk about the lack of access to clean water among indigenous communities in Canada. “I say the government to hold themselves accountable for the promises that they make because Canada and indigenous people have a long history of broken promises and they still continue to this day to keep breaking promises with the nation's people," she said. "Less talk and more action is very much expected from me."
Load More