Morning Brew - ☕️ Some nuggets

Why Chick-fil-A is changing its tune on antibiotics...
March 26, 2024 View Online | Sign Up | Shop

Morning Brew

UNICEF USA

Good morning. Breaking overnight: The Francis Scott Key Bridge in Baltimore collapsed after one of its pillars was struck by a container ship. The 1.6-mile-long bridge is a major artery for the city that opened in 1977, and officials called its collapse “a dire emergency.” As of 5am ET, rescuers were looking for at least seven people in the water. Here are the latest updates.

—Cassandra Cassidy, Sam Klebanov, Matty Merritt, Abby Rubenstein, Neal Freyman

MARKETS

Nasdaq

16,384.47

S&P

5,218.19

Dow

39,313.64

10-Year

4.253%

Bitcoin

$70,198.27

DWAC

$49.95

*Stock data as of market close, cryptocurrency data as of 9:00am ET. Here's what these numbers mean.

Markets: The stock market kicked off its short trading week with a whimper as some investors questioned the enthusiasm around the Fed’s recent assurances that it’s still planning three rate cuts this year. But one stock that roared was Digital World Acquisition Corp., the shell company that’s merging with Donald Trump’s Truth Social and will begin trading under its new ticker, DJT, today. It popped after Trump got good news from a New York appeals court.

 

HEALTH

SCOTUS to decide fate of abortion pill

Demonstrators rally in support of abortion rights at the US Supreme Court Andrew Caballero-Reynolds/Getty Images

The Supreme Court will hear oral arguments today in a case over abortion pill mifepristone that could not only have far-reaching implications for women’s access to abortions, but also affect the FDA’s power to regulate all drugs.

The case involves a challenge to changes the FDA made in 2016 and 2021 that expanded access to mifepristone by 1) extending when it can be used from seven to 10 weeks into a pregnancy and 2) making it legal to send by mail. After a group of anti-abortion doctors objected, the 5th Circuit Court of Appeals ruled last August that the FDA did not follow procedures and did not ensure the medication could be administered safely at home when it made those changes, assertions that medical experts refute. SCOTUS is now reviewing the matter.

What the ruling could change

For abortion access and reproductive health care: The case could prevent patients from receiving a prescription for mifepristone via tele-health, making it significantly harder for women to get an abortion, even in states where it’s legal.

  • Nearly two-thirds of all abortions the US health system provides are medication abortions, according to a recent study by the Guttmacher Institute.
  • A study released this week found that the number of women who obtained abortion pills from sources outside the US health system more than quadrupled in the six months after the Supreme Court overturned Roe.

For the FDA and drug companies: A ruling upholding the 5th Circuit’s decision could dramatically alter the landscape for drug approval by making it easier for courts, and individuals, to challenge the FDA.

  • Experts say this has the potential to undermine the FDA’s status as the gold standard of medicine regulation.
  • Drugmakers claim it could threaten their ability to raise money from investors to develop new treatments, by injecting uncertainty into the approval process.

Looking ahead…expect a decision from SCOTUS by late June or early July. Mifepristone remains available until then.—CC

     

WORLD

Tour de headlines

Donald Trump Drew Angerer/Getty Images

Trump gets financial reprieve from an appeals court. Just as the deadline was set to expire for former President Donald Trump to post a seemingly impossible-to-get $454 million bond to cover the judgment against him while he appeals in New York’s civil suit, an appeals court granted his request for a smaller one, giving him 10 days to pay $175 million instead. The appellate judges weren’t the only ones thinking about Trump yesterday: In a separate criminal case over an alleged hush money payment to a porn star, the judge dismissed Trump’s misconduct allegations against the district attorney and set a trial date of April 15.

US–Israel tensions grow following UN cease-fire resolution. After the US abstained from voting and allowed the UN Security Council to approve a resolution demanding an immediate cease-fire in Gaza for Ramadan, Israel canceled plans for a high-level delegation to come to Washington, DC, to discuss Israel’s plans for a ground invasion of the southern Gaza city of Rafah. In addition to a cease-fire, the resolution calls for the release of the hostages being held by Hamas, something the US had vetoed past resolutions for failing to include. Though the US said the abstention did not represent a policy shift, it still angered the Israeli government, which has said it will not heed the resolution.

The feds raided Diddy’s houses. Department of Homeland Security agents searched homes owned by hip-hop mogul Sean Combs in Los Angeles and Miami in connection with a sex trafficking investigation, NBC reported yesterday. The raids came after Combs was recently accused of sexual assault in several civil lawsuits, including one from singer Cassie that was settled within a day. Combs has denied the allegations against him.

PRESENTED BY UNICEF USA

Brighter futures ahead

UNICEF USA

The United Nations Children’s Fund (UNICEF) is dedicated to keeping children protected, healthy, educated, and respected. With a presence on the ground in over 190 countries and territories, their work is more vital than ever—and UNICEF’s supporters play a pivotal role.

In 2024, UNICEF aims to provide humanitarian aid to millions of people globally.

You don’t have to be a doctor or aid worker on the ground to make a difference. Whether you’re writing to congressional representatives, hosting a community fundraiser, or signing petitions, everyone can get involved.

Despite an influx of humanitarian crises, UNICEF strives to create better futures for children everywhere.

Find out how you can make a difference.

AVIATION

Boeing CEO is out after mishaps

Boeing CEO NurPhoto/Getty Images

Boeing CEO David Calhoun will leave his role at the end of the year, he announced yesterday. His employer has been in crisis mode ever since a door blew out on a 737 Max 9 during an Alaska Airlines flight in January.

Calhoun isn’t evacuating the planemaker alone:

  • Boeing’s commercial aviation chief, Stan Deal, left the company immediately after yesterday’s announcement.
  • Board Chairman Larry Kellner won’t seek re-election later this year. He’ll be replaced by former Qualcomm CEO Steve Mollenkopf.

Boeing enlisted Calhoun four years ago to captain it through turbulent times after two fatal 737 Max crashes led to the ouster of his predecessor. The company even lifted the mandatory retirement age to allow the General Electric veteran to lead until 2028.

Change of plans

In a memo to employees, Calhoun called the Alaska Airlines debacle a “watershed moment” for the company. Boeing is now revamping its safety processes as it faces a chorus of critics, while its execs deal with regulatory scrutiny and prepare to meet with worried airlines this week. Production delays have put the manufacturer on track to lose up to $4.5 billion this quarter.

CEO shoes are tough to fill…incoming Chairman Mollenkopf will help scout a candidate with the rare executive chops to bring the aviation behemoth back to its glory days.—SK

     

FOOD & BEV

Chick-fil-A changes its mind: Some antibiotic nuggets

Chick-fil-A meal on tray with chicken sandwich, waffle fries, drink and three ketchups. Justin Sullivan/Getty Images

Like your no-fast-food New Year’s resolution, Chick-fil-A is relaxing on its promise. The chain said on Sunday that it’s backtracking on the “No Antibiotics Ever” stance it instituted in 2019, and will allow some antibiotics in its chicken starting this spring.

The sandwich purveyor is loosening its label and switching to sourcing chicken that uses “No Antibiotics Important to Human Medicine,“ which means animals were likely given some antibiotics, but not the same ones people use.

Why do chickens take drugs? Producers use antibiotics 1) to treat illnesses, since disease can be hard to control when tons of birds are raised in close quarters, and 2) to make chickens grow faster to beef up profitability.

But…The FDA and other health organizations have found that while there’s no immediate danger in consuming antibiotics in meat, it can help create antibiotic-resistant bacteria in humans. So over the last decade, the US ramped up a campaign to limit antibiotics in meat.

Now, it’s getting harder to go au naturel: Chick-fil-A claims it has to bend its own rule to find the quantity of antibiotic-free chicken it needs for its restaurants. Supplier Tyson Foods and sandwich chain Panera made similar changes recently.—MM

     

TOGETHER WITH WISTIA

Wistia

The big V. No matter how popular video becomes, consumers’ visual thirst somehow outpaces creation each year. That’s just one thing video marketing platform Wistia learned when it surveyed 2k+ professionals and analyzed 90m+ videos for its 2024 State of Video Report. Read the report + catch up on the latest trends in video.

GRAB BAG

Key performance indicators

Michael and Dwight raising the roof on The Office The Office/NBC via Giphy

Stat: There’s a way to make more money, but you might have to shell out cash to update your business casual wardrobe first. US workers who changed from fully remote jobs to fully in office roles through last year saw their pay jump 29.2%—almost twice the pay bump people got for switching in the opposite direction, according to data from ZipRecruiter. And it looks like the in-person bonus is still going strong: The BBC reports that ZipRecruiter found companies were offering $82,037 on average for in-office jobs as of this month (33% more than last year) but just $75,327 for WFH jobs and $59,992 for hybrid positions.

Quote: “Some people call it a windfall. We just call it God smiling down on us.”

The reason the prime minister of the Caribbean island Anguilla told the New York Times the nation feels blessed has nothing to do with its white-sand beaches or typical 80 degree temps year round. Rather, it’s the country’s internet domain: the now coveted .ai. With artificial intelligence the focus of the tech world, Anguilla reaped ~$32 million last year from selling website names, accounting for more than 10% of the country’s GDP.

Read: Falling for Dr. Huberman: The private and public seductions of the world’s biggest pop neuroscientist. (New York Magazine)

NEWS

What else is brewing

  • The EU is investigating Apple, Meta, and Google under its strict new antitrust rules.
  • Shohei Ohtani said he never bet on baseball or asked anyone to do it for him, in the Dodgers star’s first public statement since his interpreter was fired amid a gambling scandal.
  • A California federal judge tossed out Elon Musk’s lawsuit against the Center for Countering Digital Hate, a watchdog group that claimed X allows hate speech, saying the case was about “punishing the Defendants for their speech.” Musk has a similar case pending against Media Matters.
  • The NFL will eliminate the hip-drop tackle after team owners unanimously approved the ban.
  • Spotify is adding classes to the things you can stream on the platform.
  • Trader Joe’s raised the price of its bananas for the first time in 20+ years.

RECS

Tuesday To Do List

Watch: The obsolete mechanism that powers some of the world’s most expensive watches.

Check the ingredients: Why you might be drinking more apple juice than you think.

Make your bed: Here’s an analysis of which method is best for putting on a duvet cover.

Cook pasta that slays: Everyone’s making Assassin’s Spaghetti, and with this video you can, too.

Shop: Buy one Morning Brew x Nike item, get one free? Just Brew It.

Powering moon and Mars missions?: Infinity’s fuel cells are making power accessible in zero-oxygen environments for the US Navy, Blue Origin, and more. Invest in Infinity now.*

*A message from our sponsor.

GAMES

The puzzle section

Brew Mini: For a confidence boost to start the day, crush today’s Mini without breaking a sweat. Play it here.

Nutritional facts

In this classic Brew trivia category, we’ll give you the list of ingredients for a popular food product. You have to name it.

Ingredient list: Corn Flour, Sugar, Oat Flour, Brown Sugar, Palm and/or Coconut Oil, Salt, Reduced Iron, Yellow 5, Niacinamide*, Yellow 6, BHT (to preserve freshness), Thiamin Mononitrate*, Pyridoxine Hydrochloride*, Riboflavin*, Folic Acid*.

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Your referral count: 2

Click to Share

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morningbrew.com/daily/r/?kid=303a04a9

ANSWER

Cap’n Crunch cereal

Word of the Day

Today’s Word of the Day is: coveted, meaning “strongly desired by many.” Thanks to Jillian from Colorado for a suggestion we were yearning for. Submit another Word of the Day here.

✤ A Note From Infinity Fuel

This is a paid advertisement for Infinity Fuel Cell and Hydrogen, Inc. Reg CF offering. Please read the offering circular at https://invest.infinityfuel.com/

         
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