BREW WITH EXTRA NEWS

 

TOGETHER WITH

Good morning. While we wait (patiently) to get the vaccine, it's been hugely encouraging to see so many people get their shots this week. We're almost there, let's not let our guard down now .

MARKETS NASDAQ 13,192.35 + 0.56% S&P 3,811.15 - 0.48% DOW 30,932.37 - 1.50% GOLD 1,733.00 - 2.39% 10-YR 1.415% - 11.00 bps OIL 61.66 - 2.94% *As of market close. Here's what these numbers mean. Economy: New data show that US consumers are flush with cash (personal incomes jumped 10% last month) and hammering that one-click checkout (spending grew 2.4%, the biggest gain in seven months). Markets: Stocks were mixed after a wild week on Wall Street. To recap: Bonds sold off sharply, tech got body-slammed, and meme stock madness returned...kinda.

GEOPOLITICS The White House Implicates MBS, but...That's It Fayez Nureldine/Getty Images The US has concluded that Saudi Crown Prince Mohammed bin Salman approved an operation to “capture or kill” journalist Jamal Khashoggi, according to an intelligence report released yesterday.  The backstory Khashoggi, a Washington Post columnist and critic of the Saudi royal family, was assassinated in 2018 in the Saudi consulate in Istanbul. Khashoggi’s killing drew outrage from the international media and US lawmakers, and investigations zeroed in on the role of Mohammed bin Salman (MBS), the 35-year-old de facto ruler of the kingdom.  In the report released yesterday, we learned the CIA’s reasoning for implicating MBS: He’s so powerful and controls so much of the Saudi intelligence apparatus that there’s simply no way this operation would’ve happened without him giving the thumbs up.  Why it matters for the business world As the world’s largest oil exporter, Saudi Arabia has always been influential in the global energy market. But its recent push to diversify away from fossil fuels means it’s become a muscular player in defense, high tech, and even entertainment. The kingdom’s sovereign wealth fund, the Public Investment Fund of Saudi Arabia (PIF), has invested in more tech companies than the average college sophomore on Robinhood. It acquired a large stake in Uber, and it’s also funded Tesla, Virgin Galactic, and Lucid Motors.  Saudi Arabia is also the largest buyer of US defense goods. Following Khashoggi’s murder in 2018, corporate America tried to distance itself from the kingdom by skipping the buzzy “Davos in the Desert” investment conference held in the Saudi capital, Riyadh. But many returned the next year as pressure died down, partially because President Trump tried to squash any tensions that would interfere with the US-Saudi relationship.  Looking ahead...while Biden is aiming to “recalibrate” the US’ stance toward Saudi Arabia, he’s still tiptoeing around. According to the NYT, the president isn’t planning on directly penalizing MBS for his role in Khashoggi’s murder because the price of alienating a geopolitical ally is “too high.”

COVID Covid Vaccine Tracker Francis Scialabba It’s our newest Saturday tradition (hopefully it won’t last forever). In the US...70.5 million doses, or 21.2 doses for every 100 people, have been administered, according to Bloomberg. That’s up from 59.1 million doses last Saturday. Around the world…231 million doses have been administered in 100 different countries, up from 193 million doses in 87 countries last week. The latest updates On the launching pad: Johnson & Johnson’s single-dose vaccine candidate is on the verge of approval after a panel of health experts recommended it for authorization yesterday. The FDA is expected to greenlight what would be the US’ third approved vaccine sometime later today.  Should’ve stayed home: The head of Canada’s largest pension fund resigned yesterday over a trip he took to get a vaccine shot in the UAE. The trip wasn’t illegal, but it was a bad look given Canada’s slooooow vaccine rollout—as of Thursday, only 4.5% of its population had received at least one dose. Speaking of... Cleared for takeoff: Regulators in Canada approved AstraZeneca’s vaccine for adults, the third vaccine it’s approved.

MEDIA Netflix Wants to Make More of Its Content Look Like Bridgerton Netflix No, it’s not adding more petticoats and Regency-era sex scandals. Netflix is launching a global fund that will direct $100 million to initiatives supporting underrepresented groups in entertainment.  The program expands on the company’s existing efforts to donate tens of millions to groups that support the Black community following racial justice protests last summer. Big picture: A new study by the University of Southern California’s Annenberg Inclusion Initiative found that underrepresented groups accounted for 36% of Netflix film leads in 2018 and 2019. That’s 8% more leads and co-leads from underrepresented groups than were in the top 100 grossing films for the same years.  Behind the small screen, the study says Netflix has industry-standard levels of minority writers and directors, and the company’s first-ever inclusion report revealed that 46% of its US employees come from underrepresented communities.  Another finding: More than half of the leads and co-leads in Netflix’s films and shows are women, meaning the streamer has hit gender parity for those roles. It’s also ahead of its peers in hiring female creators and writers.

SPONSORED BY MUGSY Quiz: Three Truths and a Lie COMFY PANTS EDITION.  Can you spot the lie about Mugsy Jeans?  1. They look like jeans but feel like sweatpants 2. You could sleep in them (heck, we might recommend it) 3. MLB players petitioned the league to adopt them as part of their official uniform 4. They’re made of proprietary denim that’s stretchy and flexible  We know you’re likely scratching your head right now, thinking about how uncomfortable your regular jeans feel in all the places they shouldn’t—or how you’ve just been called out for not wearing real pants since last year.  So, we’ll give you a clue to the game. Mugsy makes the most comfortable jeans for men.  Now get into the comfy pants game with a pair of Mugsy Jeans. [Quiz Answer: The MLB thing, but never say never.]

GRAB BAG Key Performance Indicators Quote: “We continue to believe that ABNB remains the best asset in travel.”—Jeffries was one of several firms that wrote bullish notes about Airbnb a day after the company topped revenue expectations for Q4. The stock popped more than 13%.  Stat: The number of homes for sale in the US has fallen by about half compared to last winter, per Altos Research. We are in a serious inventory crunch, folks.  Read: A profile of Janelle Jones, the first Black woman to be chief Labor economist. (Bloomberg)

VIDEO GAMES Pokémon Turns 25

Giphy Feel old yet? A quarter-century ago today, the Red and Green versions of Pokémon for Game Boy were released in Japan, sending a spark through pop culture that didn’t go out when you stopped playing Pokémon GO...  2020 was Pokémon’s second-most profitable year, ever The Pokémon Company earned $143 million in net profit last year, 14.8% more than in 2019. How has the franchise avoided becoming a fad? Everyone can play. Engadget calls the video games “baby’s first RPG” (role-playing game) for a reason. They’re kid-friendly, but they have advanced options for adults, too. It’s always evolving. For instance, 2020 was the augmented reality app Pokémon GO’s top-grossing year—not 2016 when it debuted—thanks in part to a new slate of stay-at-home-friendly features, reports Sensor Tower. Pikachu is cuter than Baby Yoda. With nearly 1,000 Pokémon to catch, there’s a creature everyone can identify with, and all of them are highly marketable (well, maybe not Grimer). Looking ahead...in the short-term, you can watch a Pokémon x Post Malone concert at 7pm ET and in the medium-term, see how Pokémon’s evolving again into an open-world RPG.

WHAT ELSE IS BREWING Robinhood is close to settling an investigation into its options trading practices and app outages in March 2020, per the WSJ. Birkenstock, the iconic German sandal maker that you should definitely pair with socks, sold a majority stake to L Catterton, a private equity firm backed by LVMH. United Airlines is paying more than $49 million to settle charges of defrauding the US Postal Service. The WNBA has approved the sale of the Atlanta Dream, which was co-owned by former Sen. Kelly Loeffler, to an investor group that includes former Dream guard Renee Montgomery. The Golden Globes are tomorrow night.

SPONSORED BY M1 FINANCE Day trading can get dicey. If you believe time in the market can be better than timing the market, then ditch day trading and invest for long-term wealth with the M1 super app. Invest, borrow, and spend in one place without the management fees. For two more days, get $30 when you sign up and deposit $1,000.* *Terms and conditions apply.

BREW'S BETS A few good listicles: The NYT picked out the 10 best books of 2020 (both fiction and nonfiction). And here are the 10 biggest archaeology discoveries of 2020. It’s Saturday: Here’s a funny tweet. Weekend Conversation Starters:  What’s your favorite Pokémon, and why is it Eevee? If you could have an unlimited amount of one fruit in your kitchen, which would it be?  Gyro: Do you pronounce it the Greek way or…?

GAMES Brew Crossword: Success Stories

Francis Scialabba

Today’s crossword from Steven Zisser is next-level genius. He’s already submitted one puzzle to the Brew, but this is his best work yet. 

Try the puzzle here.

+ Think you have what it takes to make your own crossword? Spoiler: You do. Check out our tutorial, and then be sure to submit. If we select your crossword, we'll also send you the iconic Brewneck sweatshirt.

 

 

KERMIT NEXT? Disney Slaps ‘The Muppet Show’ with Disclaimer for ‘Stereotypes and Offensive Content’ Sen. Hawley Proposes $15 Minimum Wage For Billion-Dollar Businesses Read More Dan Bongino: My Secret Service Sources Tell Me ‘How Bad Biden’s Condition Is’ New CDC Director Raises Alarm On “New Variants”… Cruz Fires Back At Boehner After His ‘Anatomically Impossible’ Insult Far-Left ‘Squad’ Launch Aggressive Plan To Defeat Establishment Democrats HUGE: Trump’s Latest Move Proves He’s Definitely Plotting His Political Comeback Gretchen Whitmer Loads ‘Council on Climate Solutions’ with Donors, Utility Lobbyist, Dark Money Group Exec Kamala Harris is ‘Very Upset’ at President Biden for Notifying Vladimir Putin of Syrian Air Strike Before Her Demi Lovato Bashes Gender Reveal Parties as Transphobic: ‘There Are Boys With Vaginas and Girls With Penises’ Obama Says He Once Broke Schoolmate’s Nose For Calling Him Racial Slur Perino Breaks Down Over ‘Bail Reform’ Tragedy: ‘Don’t Think I’ve Ever Cried On TV’ Read now » WALSH: With The Insane ‘Equality Act,’ The Democrat Party Has Declared Total War On Reality Read now » Oh The Places The Woke Will Go: Dr. Seuss Canceled For ‘Racial Undertones’ Read now » LinkedIn Removes Racist ‘Be Less White’ Diversity Training, Releases Statement Following Backlash Read now » The ‘Equality Act’ Is The Greatest Threat To Religious Freedom In Our Lifetime. We Must Stand Against It. Read now »   TOGETHER WITH Good morning. While we wait (patiently) to get the vaccine, it's been hugely encouraging to see so many people get their shots this week. We're almost there, let's not let our guard down now . MARKETS NASDAQ 13,192.35 + 0.56% S&P 3,811.15 - 0.48% DOW 30,932.37 - 1.50% GOLD 1,733.00 - 2.39% 10-YR 1.415% - 11.00 bps OIL 61.66 - 2.94% *As of market close. Here's what these numbers mean. Economy: New data show that US consumers are flush with cash (personal incomes jumped 10% last month) and hammering that one-click checkout (spending grew 2.4%, the biggest gain in seven months). Markets: Stocks were mixed after a wild week on Wall Street. To recap: Bonds sold off sharply, tech got body-slammed, and meme stock madness returned...kinda.  GEOPOLITICS The White House Implicates MBS, but...That's It Fayez Nureldine/Getty Images The US has concluded that Saudi Crown Prince Mohammed bin Salman approved an operation to “capture or kill” journalist Jamal Khashoggi, according to an intelligence report released yesterday.  The backstory Khashoggi, a Washington Post columnist and critic of the Saudi royal family, was assassinated in 2018 in the Saudi consulate in Istanbul. Khashoggi’s killing drew outrage from the international media and US lawmakers, and investigations zeroed in on the role of Mohammed bin Salman (MBS), the 35-year-old de facto ruler of the kingdom.  In the report released yesterday, we learned the CIA’s reasoning for implicating MBS: He’s so powerful and controls so much of the Saudi intelligence apparatus that there’s simply no way this operation would’ve happened without him giving the thumbs up.  Why it matters for the business world As the world’s largest oil exporter, Saudi Arabia has always been influential in the global energy market. But its recent push to diversify away from fossil fuels means it’s become a muscular player in defense, high tech, and even entertainment. The kingdom’s sovereign wealth fund, the Public Investment Fund of Saudi Arabia (PIF), has invested in more tech companies than the average college sophomore on Robinhood. It acquired a large stake in Uber, and it’s also funded Tesla, Virgin Galactic, and Lucid Motors.  Saudi Arabia is also the largest buyer of US defense goods. Following Khashoggi’s murder in 2018, corporate America tried to distance itself from the kingdom by skipping the buzzy “Davos in the Desert” investment conference held in the Saudi capital, Riyadh. But many returned the next year as pressure died down, partially because President Trump tried to squash any tensions that would interfere with the US-Saudi relationship.  Looking ahead...while Biden is aiming to “recalibrate” the US’ stance toward Saudi Arabia, he’s still tiptoeing around. According to the NYT, the president isn’t planning on directly penalizing MBS for his role in Khashoggi’s murder because the price of alienating a geopolitical ally is “too high.”   COVID Covid Vaccine Tracker Francis Scialabba It’s our newest Saturday tradition (hopefully it won’t last forever). In the US...70.5 million doses, or 21.2 doses for every 100 people, have been administered, according to Bloomberg. That’s up from 59.1 million doses last Saturday. Around the world…231 million doses have been administered in 100 different countries, up from 193 million doses in 87 countries last week. The latest updates On the launching pad: Johnson & Johnson’s single-dose vaccine candidate is on the verge of approval after a panel of health experts recommended it for authorization yesterday. The FDA is expected to greenlight what would be the US’ third approved vaccine sometime later today.  Should’ve stayed home: The head of Canada’s largest pension fund resigned yesterday over a trip he took to get a vaccine shot in the UAE. The trip wasn’t illegal, but it was a bad look given Canada’s slooooow vaccine rollout—as of Thursday, only 4.5% of its population had received at least one dose. Speaking of... Cleared for takeoff: Regulators in Canada approved AstraZeneca’s vaccine for adults, the third vaccine it’s approved. MEDIA Netflix Wants to Make More of Its Content Look Like Bridgerton Netflix No, it’s not adding more petticoats and Regency-era sex scandals. Netflix is launching a global fund that will direct $100 million to initiatives supporting underrepresented groups in entertainment.  The program expands on the company’s existing efforts to donate tens of millions to groups that support the Black community following racial justice protests last summer. Big picture: A new study by the University of Southern California’s Annenberg Inclusion Initiative found that underrepresented groups accounted for 36% of Netflix film leads in 2018 and 2019. That’s 8% more leads and co-leads from underrepresented groups than were in the top 100 grossing films for the same years.  Behind the small screen, the study says Netflix has industry-standard levels of minority writers and directors, and the company’s first-ever inclusion report revealed that 46% of its US employees come from underrepresented communities.  Another finding: More than half of the leads and co-leads in Netflix’s films and shows are women, meaning the streamer has hit gender parity for those roles. It’s also ahead of its peers in hiring female creators and writers.     SPONSORED BY MUGSY Quiz: Three Truths and a Lie COMFY PANTS EDITION.  Can you spot the lie about Mugsy Jeans?  1. They look like jeans but feel like sweatpants 2. You could sleep in them (heck, we might recommend it) 3. MLB players petitioned the league to adopt them as part of their official uniform 4. They’re made of proprietary denim that’s stretchy and flexible  We know you’re likely scratching your head right now, thinking about how uncomfortable your regular jeans feel in all the places they shouldn’t—or how you’ve just been called out for not wearing real pants since last year.  So, we’ll give you a clue to the game. Mugsy makes the most comfortable jeans for men.  Now get into the comfy pants game with a pair of Mugsy Jeans. [Quiz Answer: The MLB thing, but never say never.] GRAB BAG Key Performance Indicators Quote: “We continue to believe that ABNB remains the best asset in travel.”—Jeffries was one of several firms that wrote bullish notes about Airbnb a day after the company topped revenue expectations for Q4. The stock popped more than 13%.  Stat: The number of homes for sale in the US has fallen by about half compared to last winter, per Altos Research. We are in a serious inventory crunch, folks.  Read: A profile of Janelle Jones, the first Black woman to be chief Labor economist. (Bloomberg) VIDEO GAMES Pokémon Turns 25 Giphy Feel old yet? A quarter-century ago today, the Red and Green versions of Pokémon for Game Boy were released in Japan, sending a spark through pop culture that didn’t go out when you stopped playing Pokémon GO...  2020 was Pokémon’s second-most profitable year, ever The Pokémon Company earned $143 million in net profit last year, 14.8% more than in 2019. How has the franchise avoided becoming a fad? Everyone can play. Engadget calls the video games “baby’s first RPG” (role-playing game) for a reason. They’re kid-friendly, but they have advanced options for adults, too. It’s always evolving. For instance, 2020 was the augmented reality app Pokémon GO’s top-grossing year—not 2016 when it debuted—thanks in part to a new slate of stay-at-home-friendly features, reports Sensor Tower. Pikachu is cuter than Baby Yoda. With nearly 1,000 Pokémon to catch, there’s a creature everyone can identify with, and all of them are highly marketable (well, maybe not Grimer). Looking ahead...in the short-term, you can watch a Pokémon x Post Malone concert at 7pm ET and in the medium-term, see how Pokémon’s evolving again into an open-world RPG. WHAT ELSE IS BREWING Robinhood is close to settling an investigation into its options trading practices and app outages in March 2020, per the WSJ. Birkenstock, the iconic German sandal maker that you should definitely pair with socks, sold a majority stake to L Catterton, a private equity firm backed by LVMH. United Airlines is paying more than $49 million to settle charges of defrauding the US Postal Service. The WNBA has approved the sale of the Atlanta Dream, which was co-owned by former Sen. Kelly Loeffler, to an investor group that includes former Dream guard Renee Montgomery. The Golden Globes are tomorrow night.  SPONSORED BY M1 FINANCE Day trading can get dicey. If you believe time in the market can be better than timing the market, then ditch day trading and invest for long-term wealth with the M1 super app. Invest, borrow, and spend in one place without the management fees. For two more days, get $30 when you sign up and deposit $1,000.* *Terms and conditions apply. BREW'S BETS A few good listicles: The NYT picked out the 10 best books of 2020 (both fiction and nonfiction). And here are the 10 biggest archaeology discoveries of 2020. It’s Saturday: Here’s a funny tweet. Weekend Conversation Starters:  What’s your favorite Pokémon, and why is it Eevee? If you could have an unlimited amount of one fruit in your kitchen, which would it be?  Gyro: Do you pronounce it the Greek way or…? GAMES Brew Crossword: Success Stories Francis Scialabba Today’s crossword from Steven Zisser is next-level genius. He’s already submitted one puzzle to the Brew, but this is his best work yet.  Try the puzzle here. + Think you have what it takes to make your own crossword? Spoiler: You do. Check out our tutorial, and then be sure to submit. If we select your crossword, we'll also send you the iconic Brewneck sweatshirt.     KERMIT NEXT? Disney Slaps ‘The Muppet Show’ with Disclaimer for ‘Stereotypes and Offensive Content’ Sen. Hawley Proposes $15 Minimum Wage For Billion-Dollar Businesses Read More Dan Bongino: My Secret Service Sources Tell Me ‘How Bad Biden’s Condition Is’ New CDC Director Raises Alarm On “New Variants”… Cruz Fires Back At Boehner After His ‘Anatomically Impossible’ Insult Far-Left ‘Squad’ Launch Aggressive Plan To Defeat Establishment Democrats HUGE: Trump’s Latest Move Proves He’s Definitely Plotting His Political Comeback Gretchen Whitmer Loads ‘Council on Climate Solutions’ with Donors, Utility Lobbyist, Dark Money Group Exec Kamala Harris is ‘Very Upset’ at President Biden for Notifying Vladimir Putin of Syrian Air Strike Before Her Demi Lovato Bashes Gender Reveal Parties as Transphobic: ‘There Are Boys With Vaginas and Girls With Penises’ Obama Says He Once Broke Schoolmate’s Nose For Calling Him Racial Slur Perino Breaks Down Over ‘Bail Reform’ Tragedy: ‘Don’t Think I’ve Ever Cried On TV’ Read now » WALSH: With The Insane ‘Equality Act,’ The Democrat Party Has Declared Total War On Reality Read now » Oh The Places The Woke Will Go: Dr. Seuss Canceled For ‘Racial Undertones’ Read now » LinkedIn Removes Racist ‘Be Less White’ Diversity Training, Releases Statement Following Backlash Read now » The ‘Equality Act’ Is The Greatest Threat To Religious Freedom In Our Lifetime. We Must Stand Against It. Read now »