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Here are the headlines you Need2Know for Friday, March 4, 2022:
RUSSIA GAINS GROUND
Russian forces have taken control of Europe's largest nuclear power plant in southern Ukraine which produces a quarter of the country's energy. The Ukraine Navy purposely sank the flagship of the Black Sea fleet to prevent Russia from seizing it. A second round of talks wrapped up in Belarus, but so far to little effect, and refugees continued to pour out of the country. The U.N. now predicts that the conflict could displace up to 10 million Ukrainians, or a quarter of the population. NY TIMES
RUSSIAN ECONOMY REELS
The Russian economy is headed over a cliff, according to multiple reports. JPMorgan expects Russia's GDP to drop 35% in the wake of the invasion, while Bloomberg said Russian billionaires have already lost $80 billion in recent weeks. Even the Russian government acknowledged that the economy was taking "serious blows," as sanctions walloped the country and private companies pulled out en masse. CNN
FOOD PRICES SET TO RISE
The rising price of oil is getting most of the headlines, but a number of essential commodities are getting pricier due to the war in Ukraine. The prices of wheat and corn are up 37% and 21%, respectively, and as staple crops, their costs trickle down to other food products. In addition, rising natural gas prices and disruptions from the war are jacking up the price of fertilizers, which could also lead to higher food prices in the longer run. None of this bodes well for U.S. consumers, who are already facing the highest inflation in four decades. AP
"DON'T SAY GAY" SUSPENSION
A Florida high school student has been effectively suspended after organizing a multi-school rally to protest a state bill that would ban the teaching of sexual orientation and gender identity to kids in kindergarten through third grade. Jack Petocz, a junior at Flagler Palm Coast H.S., distributed more than 200 pride flags for the walkout at his school, despite protest from the principal, and was later told that he's out until further notice. Supporters of the bill, including Gov. Ron DeSantis, say it is meant to support parents' rights to decide when to teach their kids about sexuality, but critics say it will ostracize LGBTQ+ students. DAYTONA BEACH NEWS-JOURNAL
NEW OPIOID SETTLEMENT
You know what they always say: If at first you don't get the proper settlement for a horrendously destructive act of corporate malfeasance, try again. Purdue Pharma, the company behind the painkiller OxyContin, has agreed to pay $6 billion to settle a series of lawsuits over its role in fueling the nationwide opioid epidemic. The Sackler family, which owns Purdue, had previously offered $4.5 billion, but a number of state attorneys general weren't satisfied. The new deal secured a bigger settlement and also forced the family to cede control of the company. WSJ
They put the CON in OxyContin.
VACCINE STOCKPILE
The demand for COVID-19 vaccines is plummeting, and many U.S. states are sitting on rapidly expiring stockpiles. The problem spans states with some of the highest and lowest vaccination rates in the country, which means that simply reaching out to the unvaccinated might not be enough to run down the supply. In addition, the extra shots likely can't be transported to other countries, because of logistical challenges. For now, state governments are scrambling to distribute as many doses as possible before the vaccines are essentially wasted. AP
They forgot to take it off autoship.
NFL DROPS COVID PROTOCOLS
It's back to business-as-usual for the N.F.L. The football league struck a deal with players to immediately suspend all COVID-19 protocols. That means no more mask requirements, no more social distancing, and no more restricted access within team buildings — with some exceptions based on vaccination status and job role. The league will maintain on-site testing areas, where players who self-report symptoms can get a PCR, and uphold all local laws. The NFL is the first major sports league to drop its COVID restrictions. NY TIMES
COMMUTER CHAOS IN LONDON
London's transit system screeched to halt on Thursday as transport workers walked off the job for the second day in a row. The "Tube" is one the busiest subway systems in the world and the labor action is causing chaos for the city's commuters. With most underground lines closed, buses and taxis are getting overloaded. The transport union said it wants assurances that planned government spending cuts won't eat into their salaries or pension plans. In the meantime, the system's operator is asking commuters to work from home if possible. BBC
Good thing everyone got all that practice working from home.
SPACE JUNK HITS MOON
A school bus-sized piece of space junk is about to crash into the surface of the moon this morning and the collision is expected to leave a crater the size of several semi-trucks. The man-made meteor was traveling roughly 5,800 miles per hour. Don't feel too bad though. Due to a lack of atmospheric armor, the moon is routinely pummeled with cosmic detritus. The difference is, this time it came from us. Sorry, moon. NPR
The man on the moon is annnngry.
LEFTOVERS: POP-TARTS REDEEMED
In a major loss for supremely nitpicky shoppers, a U.S. District judge has dismissed a class-action lawsuit claiming that Strawberry Pop-Tarts don't have enough strawberries in the filling. The judge wrote in his decision that the word "Strawberry" on a product doesn't guarantee a certain amount of strawberries and that no reasonable consumer could believe that a Pop-Tart contained only strawberries. Not to side with the big-bad corporation, but the judge might be right about this one. We all know "Strawberry" just means sweet red goop. REUTERS
If we’re being real, it’s technically not a tart either.
**LOVE **HATE **ATE
One thing we love: FRI-YAY! We have the whole weekend ahead of us (which will mainly consist of Netflix-time)
One thing we hate: We're thisclose to spring…but we still have to break out our winter gear every morning.
One thing we ate: Chocolate zucchini muffin from a school bake sale. Gotta support the kids!
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!
