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
Stephanie Hsu, Ke Huy Quan & James Hong on Representation in 'Everything Everywhere All At Once'
Actors Stephanie Hsu, Ke Huy Quan, and James Hong joined Cheddar News to discuss their new science fiction family drama, "Everything Everywhere All At Once," featuring a Chinese American family. "I really hope that people will come out of this film feeling a little bit of healing and also inspired to love the ones you're with a little bit harder in this very moment in this life right now," said Hsu. The film also stars Michelle Yeoh and Jamie Lee Curtis.
Mike Tyson Talks His Ear-Shaped Edibles and the Future of Tyson 2.0 Brands
This June marks the 25th anniversary of the infamous 1997 "Bite Fight”, the iconic boxing rematch between Mike Tyson and Evander Holyfield when Tyson shockingly bit a piece of his opponent’s ear off. As a macabre tribute to the incident, the boxing legend’s line of cannabis products, Tyson 2.0, has released “Mike Bites", edibles in the shape of an ear complete with a bite mark. Tyson, the chief brand officer and co-founder, along with CEO Adam Wilks joined Cheddar News to talk about the unique gummies. "I just think this is just me owning what I did. I'm owning my responsibility. I've done that. That was pretty bad at the time, but I turned it over to make it pretty good," the former heavyweight champion said.
Former Olympic Figure Skater Nancy Kerrigan on Giving Back With Ice Dreams Tour
U.S. Figure Skating Hall of Famer and former Olympian Nancy Kerrigan spoke to Cheddar News about joining Ice Dreams, a national skating tour that connects legends of the sport with its next generation. Kerrigan spoke of the lessons she learned from the sport and how grateful she is for the opportunity to give something back. “I mean skating has taught me some of the greatest things in in my life," she said. "You know, you fall down, things get hard, but you get back up and you keep on trying. And if you're performing and doing something you love, I think you would actually do even better.”
Travel Destinations to Keep in Mind as Vacationing Rebounds in 2022
After two years of living in the pandemic, people are gearing up to travel for their summer vacations in 2022. Leigh Barnes, the chief customer officer for adventure tours company Intrepid Travel, joined Cheddar News to talk about the year’s top travel destinations and tips on how to prepare. Regarding COVID restrictions, Barnes discussed needing to do your own research to make sure you should be hitting a destination at all. "I think that the last thing is, making sure that where you're going is, the communities want you there. Because I think one of the things that we're seeing from possibly a Western lens is vaccine equity," he said. "We've got high vaccine rates across a lot of the Western nations. They may not have that same COVID normal that we're experiencing. So you've got to look for places that do want tourists to come in or ways that we can support vaccine equity."
Protégé Looks to Provide Access for Aspiring Artists to Stars Like DJ Khaled
If you have a minute, Protégé thinks it might be enough to get your talent noticed by stars and industry movers like DJ Khaled. Jackson Jhin, co-founder and CEO of the platform, talked to Cheddar about how the services might better democratize access to performing arts like music and acting. "You have 60 seconds to send a video to the best experts in each industry and send it to people who otherwise would have been inaccessible," he noted. For a wide-ranging fee, applicants can submit their work to garner feedback from folks like Jason Alexander or Scooter Braun — with a money-back guarantee, according to Jhin.
Load More