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

Here are the headlines you Need2Know for Wednesday, March 9, 2022:

U.S. BANS RUSSIAN OIL IMPORTS

In a major escalation of Western powers' economic war on Russia, President Joe Biden has ordered a ban on oil and gas imports from the country. While the U.S. is much less dependent on Russian fossil fuels than Europe, which remains on the fence about imposing similar measures, Biden noted that Americans could still feel the pinch at the gas pump. “Defending freedom is going to cost,” he said. The average price of gas was $4.17 per gallon as the president announced the new sanctions. AP


Your turn, rest of the world.

ICONIC BRANDS PULL OUT

In the private sector, meanwhile, a number of iconic American brands have announced plans to end or suspend their operations in Russia. McDonald's said it will temporarily shutter 847 restaurants in the country. Starbucks said it will suspend business activity at 130 outlets, and Coca-Cola is also pausing its operations in Russia, while PepsiCo is halting soda sales but not chips and daily essentials (like milk and baby formula). The announcements came with condemnations of Russia's invasion of Ukraine, as well as promises to support employees who are impacted by the pull-out. WSJ

Now that’s big, Mac.

PUTIN DOUBLING DOWN

The economic backlash to Russia's invasion of Ukraine doesn't appear to be shaking President Vladimir Putin's resolve, according to CIA Director William Burns. He said that the Russian leader is frustrated with his military's progress and is likely to escalate attacks rather than pull back. Burns spoke before the House Intelligence Committee on Tuesday, as heavy fighting continued in eastern Ukraine and more refugees struggled to escape the war-torn country. NPR

FIGHTING THE NEXT VIRUS

As the Covid-19 pandemic winds down in the U.S., the Biden administration is turning its sights on future biological threats. The White House on Tuesday announced plans to contribute $150 million over the next three years to a project aimed at making sure the world is able to rapidly produce vaccines in the case of any future pandemics. Congress still needs to approve the funding, and it's only a fraction of the total costs of the project, but it's a start to what could become a more proactive approach to virus-fighting going forward. NY TIMES

'DON'T SAY GAY' BILL PASSES

Florida's legislature has passed a bill that would ban lessons on sexual orientation and gender identity in kindergarten through third grade. Republican lawmakers pushed the bill forward despite criticism from Democrats and activists that it undermines LGBTQ+ people. The so-called "Don't Say Gay" bill is now headed to the desk of Republican Gov. Ron DeSantis, who supports it. Democrats, meanwhile, continue to push back against the bill, saying that its language is so broad that teachers could face a wave of lawsuits. AP

GOOGLE ACQUIRES CYBERSECURITY FIRM

Google parent company Alphabet has announced plans to acquire cybersecurity firm Mandiant for around $5.4 billion. The deal is a bid to compete with Amazon Web Services and Microsoft Azure for a bigger slice of the cloud computing market. Alphabet’s finance chief Ruth Porat framed the acquisition as a way to protect cloud computing customers, who are increasingly asking for artificial intelligence and data automation, as cybersecurity threats rise. CNBC

Cloudy with a chance of profit.

NICKEL NONSENSE

You all remember the meme-stock craze, when a bunch of Reddit hooligans caused a short-squeeze that sent GameStop's share price to the moon? Well, that sort of happened to nickel on Tuesday morning. The price of the silvery-white metal climbed amid fears of Western sanctions cutting off Russian suppliers. The jump forced a deep-pocketed short-seller — the Chinese billionaire known as "Big Shot" — to cover his position, forcing the price even higher. These financial shenanigans aside, the rising cost of nickel doesn't bode well for the emerging electric vehicle market, which relies on nickel for its lithium-ion batteries. CHEDDAR

EVs getting more expensive. Gas prices through the roof. Better invest in a new pair of sneakers.

APPLE UNVEILS 'AFFORDABLE' IPHONE

Apple unveiled a new "affordable" iPhone SE in its first product event of the year. The model is the first upgrade to the budget-priced iPhone released nearly two years ago. Sticklers will point out it's actually slightly more expensive than the earlier version, but still not as pricey as the fancier iPhone 13. The company touted this model's longer-lasting battery and compatibility with 5G wireless networks as the biggest selling points. Apple also announced a new iPad Air, a 27-inch Studio Display monitor, and teased a new Mac Pro. CHEDDAR

By “more affordable” they meant more expensive.

PROUD BOY PUNISHED

The Justice Department has announced that Enrique Tarrio, leader of the far-right Proud Boys organization, has been charged with conspiracy for his role in the January 6th, 2021 Capitol Hill riots. The indictment alleges that Tarrio met with the leader of another far-right group, the Oath Keepers, in a parking garage prior to the riot and that the Capitol came up in their conversation. The department claims the Tarrio and other accused members of his group conspired "to corruptly obstruct, influence, and impede an official proceeding, the certification of the Electoral College vote." CNN

LEFTOVERS: GOTTA CATCH 'EM ALL

In a spectacular case of fandom gone too far, a Georgia man took Pokémon's motto "Gotta Catch 'Em All" to a whole new level when he used $57,000 in Covid-19 relief funds to buy a collectible trading card last year. He's accused of submitting false information to the Small Business Administration in an application for an "entertainment services" business. He now faces a three-year prison sentence and has agreed to forfeit the costly card. Perhaps, in the end, he should have been content to "catch" just one less. NBC

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!

Share:
More In Culture
W. Kamau Bell on Key Takeaway From 'We Need to Talk About Cosby' Docuseries
After premiering at the 2022 Sundance Festival, Showtime is slated to drop the four-part docuseries "We Need to Talk About Bill Cosby" this Sunday. Director W. Kamau Bell joined Cheddar to discuss the sensitive project and about coming to grips with the reality of who Bill Cosby is following the numerous allegations of sexual assault. Bell said the biggest takeaway from the project is that survivors are not only looking for the 84-year-old comedian to be held accountable, they also want to prevent future assaults. "Maybe the key thing to learn is how do we create a society that is more supportive and accepting particularly women in this case who are survivors of sexual assault," Bell said.
What To Know About 2022 Tax Season
Tax season is now underway, and it's going to be a bit different than in years past. For starters, the deadline is April 18, instead of the typical April 15th, and many Americans will need to account for advance child tax credit payments, the return of the recovery rebate credit, and a special break for charitable contributions, among other things. Brent Weiss, Co-Founder and certified financial planner at Facet Wealth, tells us what we need to know about filing our taxes this year, and when we can expect to receive our returns.
College Enrollment Down Nearly 7% Since The Pandemic
College enrollment has been on a steady decline for years, and the pandemic hasn't helped. Since the start of the pandemic, there has been a 6.6% — more than 1 million students — drop in undergraduate enrollment, according to a recent report. Douglas Belkin, higher education reporter at the Wall Street Journal, joined Cheddar to discuss the long-term implications of students sitting out of college, and what institutions can do about it.
As Midterm Elections Loom, Biden's Approval Rating Continues Decline
As the midterm election looms, things aren't looking too promising for President Joe Biden. One year into his term as president, Biden is facing one of the lowest approval ratings of any modern-day president, threatening his party's control of the House in 2022. Brian Bennett, Senior White House Correspondent for TIME, joined Cheddar's Opening Bell to discuss.
The Biden Administration: One Year Down, Three to Go
A full one year into his term as President of The United States, President Biden addressed the nation on Wednesday, facing questions on everything from inflation to chip shortages and covid-19. As Biden enters his second year in office, he is facing one of the lowest approval ratings of any modern-day president. Kate Davidson, Reporter, POLITICO joined Cheddar's Opening Bell to discuss.
New San Diego Law Funnels Grocery Waste To Food Banks
San Diego has just implemented a new law that could set the stage for how the country deals with food waste. This new law hopes to make a dent in that. Businesses and groceries stores out in San Diego will need to put a plan in place to *donate edible food rather than toss it straight to the trash. Food Rescue Manager at Feeding San Diego, Kate Garret
Load More