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Here are the headlines you Need2Know for Tuesday, April 12, 2022:
UKRAINE LATEST
FACE-TO-FACE: In Putin's first face-to-face meeting with a European leader since the invasion began, he and Austrian chancellor Karl Nehammer had a “very direct, open and tough” discussion. Fresh off a visit to the war-ridden cities of Kyiv and Buhca, Nehammer reportedly told Putin that those who committed war crimes in Ukraine must be held accountable. Though he left without much optimism, he says he's willing to meet with Putin “100 times” if that means putting an end to the war. AP
ON THE GROUND: Satellites show Russian forces moving thousands of troops and vehicles into position for an attack on the eastern Ukrainian region of Donbas. Though many who had stayed thus far are now trying to leave the region, Ukrainian officials say that time is running out to do so, and reported that civilians have been killed trying to escape. Though Russia’s primary focus is turning east, its forces continue to bombard cities in other parts of Ukraine, as President Volodymyr Zelenskyy said “tens of thousands are dead” in Mariupol. NY TIMES
INFLATION IMPACTS GAS
Around 8:30 a.m. ET, we'll get the latest inflation numbers and they're not expected to be good (as you probably know if you're bought basically anything lately). President Joe Biden will jump on the news with a plan to bring down gas prices. The EPA is expected to issue an emergency waiver to ease restrictions on ethanol-blended gas which could ease the pain at the pump by 10 cents/gal this summer - traditionally the season when fuel prices rise anyway as everyone hits the road for vaca. NBC NEWS
The only thing that could use some inflating is our ego.
BIDEN TACKLES GUN VIOLENCE
As previewed in yesterday’s Need2Know, Biden announced new regulations on ghost guns in an attempt to lower violent crimes. These privately-made firearms will now be required to have serial numbers and manufacturers will be required to run background checks when they sell them. Biden also announced his nomination of U.S. Attorney Steve Dettelbach to lead the Bureau of Alcohol, Tobacco, Firearms and Explosives. Dettelbach’s confirmation is far from certain, though; Biden had to withdraw the nomination of his first ATF nominee - gun-control advocate David Chipman - due to bipartisan opposition in the Senate. CHEDDAR
Now only if they could regulate ghosting.
COVID LATEST
PHILLY BRINGS BACK MASKS: Philadelphia is reinstating its citywide mask mandate due to increasing Covid cases. Beginning April 18, masks will be required in all indoor public spaces, including schools, businesses, and restaurants. The City of Brotherly Love becomes the first major American city to reimpose the mandate, as the city’s cases increased by more than 50% over the last 10 days. It lifted the last mandate just 41 days ago. PHILADELPHIA INQUIRER
U.S. SHANGHAI EVACS: The U.S. is now requiring most Shanghai consulate staff and their families to leave the city and is advising travelers to avoid China due to "arbitrary enforcement" of local laws and Covid regulations. The city of 26 million has been in lockdown since March 30 and residents have complained about a lack of food and necessities. Shanghai officials say they addressed the complaints. AP
NETFLIX DOUBLE THUMBS UP
When watching Netflix, you can already tell the streaming service what you like and dislike. Now, you can tell Netflix what you love. It's rolling out a ‘double thumbs-up’ feature to help refine content recommendations. The single thumbs-up (and thumbs-down) will stay, but the two thumbs up arrives to give Netflix better insight into what it should recommend to viewers. It’s the streaming giant’s response to users who feel Netflix doesn’t provide strong film or series suggestions. This is the first time Netflix has tinkered with its user ratings system since 2017, when it changed from the five-star ratings scale to thumbs up-or-down ratings. NETFLIX
SHOPIFY STOCK SPLIT
E-commerce platform Shopify is planning a 10-for-1 stock split and is seeking shareholder approval for a “founder share” to increase the CEO's voting power. The proposed split would provide investors with nine additional shares for every one share currently held. Similar to other blue-chip stocks like Tesla and Amazon, whose share prices continually increase, Shopify is aiming for a split to make the stock accessible to new investors. SHOP’s stock price has dropped almost 50% in the past year, though news of a potential stock split gave the price a small boost to start the week. FOX BUSINESS
MEGA METAVERSE INVESTMENT
Sony and Lego are collectively investing $2 billion into video game powerhouse Epic Games. The announcement comes just a week after the video game and toy powerhouses announced plans to build a “family-friendly” metaverse together. Epic Games is well-known for being the creator of the mega-hit video game Fortnite, which is already considered part of the metaverse. After this latest investment, Epic’s total valuation is $31.5 billion. CNBC
You can’t step on step on Legos in the Metaverse, right?
DOORDASH STUDENT PASS
Delivery just got cheaper for college kids. DoorDash just launched DashPass for Students which will let students get free delivery on all orders for just $4.99 per month - half off the standard DashPass subscription. College students seem to be good customers - DoorDash says 70% use a delivery app at least once a week. This could be a challenge to competitors like GrubHub and UberEats which offer similar $10 monthly subscriptions. THE VERGE
Being lazy just got cheaper.
GOOGLE SUES FOR ‘PUPPY FRAUD’
Google sued a scammer for allegedly running an online “puppy fraud scheme,” swindling people out of thousands of dollars with false promises of sending puppies. Google says the con artist from Cameroon used Google Voice and Gmail to pretend to sell purebred basset hounds to people online, mainly targeting older Americans. No basset hounds were sent, so AARP brought the scam to Google’s attention. AARP also published its own report about the puppy scam, detailing how criminals are taking advantage of elderly people struggling with the isolation caused by the pandemic. THE VERGE
Maybe the scammer can get away if he gives Google the “Puppy Fraud eyes.”
CHEDDAR EXPLAINS: How America Got Hooked On Artificial Sweeteners
Walk into any coffee shop or diner and you’ll spot packets of Sweet ‘n’ Low, Equal or Splenda right away. In 2020 alone, 141 million Americans used sugar substitutes. So how did these small packets become so mighty? Cheddar’s Natalia Ryzak explains. YOUTUBE
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!
