Thursday, May 12th, 2022
Fentanyl Flare-Up, Unstable Stablecoin & America’s Best Airlines
All the news you need in about 10 min:
This episode is brought to you by Zocdoc.com/newsworthy and Indeed.com/newsworthy
Story Summaries
All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want to peruse the latest happenings.
More Record-High Temperatures
Today, forecasters expect dozens of all-time temperature records to be broken. Already this week, extreme heat has been pushing temperatures near or past 100 degrees from Texas to Missouri. It’s in the 90s up to northern Michigan. This means temperatures are anywhere from 15 to 25 degrees above average for this time of year along 2,000 miles of the central U.S. Up next, the heatwave movies east. Texas will continue to get unprecedented heat over the weekend, and parts of upstate New York and New England could start to see record high temps through Saturday. However, it’s expected to get cooler in the Midwest soon.
Read More: Weather Channel, Accuweather, USA Today, WaPo, NWS, NOAA
Drug Overdose Deaths Record
More Americans died of drug overdoses in 2021 than in any other year in recorded history. New federal data shows nearly 108,000 Americans overdosed and died. That’s up 15% from one year earlier. The powerful synthetic opioid fentanyl is responsible for more overdose deaths than any other drug. Some health officials say a lot of the problem has to do with how widespread the fentanyl supply has become in the U.S. The drug is reportedly especially attractive to cartels because it’s made from cheap, easily-sourced chemicals and it can be easy to hide.
Read More: NY Times, WaPo, Axios, Fox News, WSJ, CDC
Gov’t Native Children Report
A first-of-its-kind federal study uncovered some disturbing details about the treatment of Native Americans. The research was looking into more than 400 boarding schools. The federal government forced thousands of indigenous children to attend the schools between 1819 and 1969 as a way to integrate them into white society. The new report shows many kids suffered terrible abuse in those schools. It also found burial sites at more than 50 of them because hundreds of children died there. The report is just the first step in a comprehensive review the Interior Department is working on.
Read More: CBS News, CNN, AP, NY Times, DOI
Biden’s Agriculture Plan
The White House is hoping one new plan will be able to help solve two big problems: inflation and global food shortages. President Biden says farmers need to start planting more. To help, he said his administration will double funding for U.S. fertilizer production to $500 million. It will also make more counties eligible for double cropping insurance. Double cropping is when farmers plant a second crop on the same land in the same year. It’s not done often because it comes with risks. For example, if weather conditions aren’t good, it throws off the timing of everything. However, Biden says the risks need to be taken.
Read More: AP, CNBC, ABC News, Reuters, White House
Latest Inflation Report
The federal government released the latest Consumer Price Index (CPI) which is a key measure of inflation. It was up 8.3% in April as compared to the same time last year. The month before that, the CPI was up 8.5%. In other words, prices are still going up, but not by as much as they have been. This was the first time in eight months that the inflation rate dropped. Still, your bank account likely won’t know the difference. Month over month, prices rose for groceries, dining, out, airline travel, new cars and trucks, housing, and more.
Read More: Axios, Fox Business, AP, USA Today, WSJ, BLS
Terra, Luna Crash
One of the most popular stablecoins collapsed. Terra USD aims to be worth $1 at all times. However, this week, its value fell below 30 cents, a 70% drop in just 24 hours. It has gone up again. However, its sister token, Luna, lost more than 90% of its value in 24 hours. So much money has been lost that Reddit discussions about this were including suicide-prevention hotlines. So far, other stablecoins are staying fairly steady, but investors are watching closely.
Read More: MarketWatch, WSJ, Forbes, Fortune, Yahoo! Finance, Twitter
Airline Satisfaction Survey
For the first time in a decade, customer satisfaction with airlines went down. That’s according to a J.D. Power survey out this week. Customers are citing packed planes and rising ticket prices for the reasons they’re not happy. However, travelers still seem to have their favorite airlines. The survey found people chose JetBlue Airways as the best airline in the country for premium economy, business, and first-class. Southwest Airlines got top marks for economy and basic economy flights.
Read More: CNBC, Forbes, USA Today, CNN, JD Power
Travel Company Updates
Southwest Airlines says it’s spending $2 billion to upgrade the flying experience for its passengers. Southwest is promising faster internet service, power outlets at every seat on new planes, and larger overhead bins starting later this year. Airbnb also got some updates this week. Its redesign lets users search for stays based on categories like Camping, Treehouse, Surfing, or Amazing Views, instead of just a specific city. Airbnb also unveiled a new insurance option for guests with things like cancellation protection and more.
SWA Updates: Dallas Morning News, AP, CNBC, SWA
Airbnb Update: TechCrunch, The Verge, Fast Company, WSJ, Twitter/Airbnb
Google I/O Announcements
Google showed off a lineup of new hardware and software updates. For example, it showed off three new Pixel smartphones. Google also announced its first smartwatch. It will be compatible with Google Assistant, Google Maps, Google Wallet, and more. Plus, there will be activity-tracking and fitness features since Google acquired Fitbit. Google also announced updates to some of its most popular tools. For example, people will soon be able to get a real-world view of certain cities on Google Maps with a 3D immersive feature. Also, Google translate is adding 24 more languages.
Read More: CNN, TechCrunch, CNBC, WSJ, Google
Osaka Launching Sports Agency
Tennis champion Naomi Osaka is making history off the court. Osaka told Sportico she decided to leave her old agency to start her own with the help of her longtime agent. Sportico says that makes her the first female athlete to take full control of her business endeavors and try to build an agency. Her new company is called EVOLVE. Osaka is already the highest-paid female athlete in the world. Last year, about half of her money came from corporate sponsorships.
Read More: Sportico, SI, ESPN, NY Times
Thing to Know Thursday: Great Barrier Reef Bleaching Event
Scientists say the Great Barrier Reef suffered its sixth mass bleaching event on record, the fourth since 2016. This time, more than 90% of the Great Barrier Reef coral they surveyed was bleached. Coral is made up of tiny animals that are fed by algae that live inside the reefs. However, when the ocean temperature rises, the algae produces toxins. Then, the coral turns white as it effectively spits out the poisonous algae. If this lasts, the coral could die of starvation. However, scientists are hoping most of the coral will recover this year.
Read More: Sydney Morning Herald, AP, CBS News, CNN, GBRMPA