Thursday, June 17th, 2021
U.S.-Russia Future, Record Heatwave & Victoria’s Secret Angels Replaced
All the news you need in about 10 min:
This episode is brought to you by Ritual.com/newsworthy and Rothys.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...
Biden-Putin Takeaways
The first meeting between President Biden and Russian President Vladimir Putin ended without any dramatic actions or new policies, but there were some disagreements. One had to do with recent cyberattacks, which Putin still denies Russia’s involvement in. The leaders also spoke about Russian opposition leader Alexei Navalny, who is still in jail. Biden told Putin if Navalny dies in custody, Russia will face “devastating consequences.” The meeting wasn’t all tense though. Both leaders agreed to return Russian and American ambassadors to their posts in Washington and Moscow. They also laid out the groundwork for new arms control measures.
Read More: AP, CNN, WSJ, NY Times, White House
Education Dept. on Transgender Students
The Education Department says the federal law that bans sexist discrimination should also include LGBTQ students. This means discrimination based on a student’s sexual orientation or gender identity will be treated as a violation of Title IX. Students who face that kind of unfairness will be able to bring their complaints to the Education Department or federal courts. If schools are found to have violated Title IX, they could face consequences as bad as losing all funding from the federal government.
Read More: WaPo, NY Times, AP, Axios, Education Dept.
Fed Expects Interest Rate Increases
The Federal Reserve says it is keeping interest rates low-- for now. It cut interest rates to nearly zero last year at the height of the pandemic and is now saying the low rates are still necessary while the U.S. keeps recovering from the economic fallout of COVID-19. Lower interest rates mean it’s cheaper to borrow money, and they tend to encourage more people to spend, which gives a boost to the economy. However, economists also say the low interest rates drive inflation. The Fed is projecting the next rate hike in 2023, and then another one later that same year.
Read More: WSJ, Reuters, Fox News, NBC News, Federal Reserve
Extreme Heat Continues
The historic heatwave in the American west is getting worse. Heat warnings and advisories are in effect across seven states. In the coming days, about 40 million Americans are likely to see temperatures in the triple digits. This is unusually severe for June, with temperatures being 10-30 degrees above average. Wildfire risks are especially heightened now, and major wildfires are already burning in multiple states. Texas and California are asking people to conserve energy so their power systems don’t collapse.
Read More: NBC News, Axios, WaPo, Reuters, NWS
GM, Ford Electric Investments
This week, GM announced it would increase its spending on electric and autonomous vehicles by about a third. That brings its investment to about $35 billion over the next four years. GM is also doubling down on developing batteries for the vehicles. This all comes after similar announcements from Ford, who decided to increase spending on EV development by a third. An analyst described GM and Ford’s rivalry as an “electric vehicle arms race.” Forbes reports the electric vehicle market could be worth up to $5 trillion within the next decade.
Read More: AP, WSJ, CNBC, GM, Ford
China & Russia Reveal Moon Plans
Russia and China revealed plans to team up for a new moon mission. They’ll start with research missions to the moon with the first robotic mission scheduled for later this year. The second phase involves building a permanent lunar research station. They also want to have astronauts on the moon by 2036. Their plans are entirely separate from the U.S., which plans to send astronauts back to the moon by 2024. NASA is working to set international standards for moon exploration with an agreement called The Artemis Accords, which lays out terms so countries can coordinate peacefully on the moon.
Read More: The Verge, SpaceNews, NY Times
Victoria’s Secret’s Major Rebrand
The famous Victoria’s Secret angels are getting replaced in the name of female empowerment. The brand is bringing in a new group of women who are known for their achievements as well as their beauty. The group includes soccer star Megan Rapinoe, Chinese-American Skiier Eileen Gu, plus-size model Paloma Elsesser, Brazilian transgender model Valentina Sampaio, and actress Priyanka Chopra Jonas. Victoria's Secret’s new CEO says the brand needs to “stop being about what men want” and instead focus more on what women want.
Read More: NY Times, Page Six, Yahoo! Sports, VS
Fireworks Shortage
Fireworks could be in short supply. The nation’s largest supplier, Phantom Firework, is now urging customers to shop for 4th of July supplies as soon as possible before they run out. Two other companies say they’re experiencing shortages too. The fireworks industry, like many other retail industries, is dealing with supply chain issues and global shipping delays. For now, a lot of the nation’s biggest fireworks shows are still scheduled though. Those shows include the one at Washington DC’s National Mall, the Macy’s fireworks show in New York City, and the one at Disney World in Florida.
Read More: Fox News, USA Today, Phantom Fireworks
U.S. Open Begins Today
The U.S. Open tees off today in San Diego, California. The tournament is welcoming back fans, though there will be fewer spectators allowed than in years past. Unvaccinated fans are asked to wear masks inside. On the course, Phil Mickelson is hoping to end his career-long bad-luck streak at the U.S. Open, as it’s the only major tournament the hall-of-famer has never won. Mickelson is bringing some momentum to the competition after he won the PGA Championship last month. Other frontrunners include Jon Rahm, Brooks Koepka, and Dustin Johnson.
Read More: ESPN, San Diego Union-Tribune, GOLF, U.S. Open
Thing to Know Thursday: Juneteenth
Juneteenth is set to become our newest federal holiday. Both the House and the Senate approved the bill this week and sent it to President Biden, who is expected to sign it into law. If he does, the holiday’s official name will be Juneteenth National Independence Day. Juneteenth commemorates the day when the last Black enslaved people learned they were free on June 19th, 1865. People typically celebrate Juneteenth with barbecues, sporting events, prayer services, and readings of the Emancipation Proclamation. Americans are also encouraged to mark the holiday by supporting black-owned businesses.
Read More: CNET, NPR, USA Today, WSJ, AP