Good morning. During tough times, journalists shine. And we want to send our gratitude to everyone reporting on the ground in Ukraine and elsewhere in Eastern Europe, without whom this newsletter would be a blank page with a trivia question. Stay safe. —Neal Freyman, Matty Merritt, Max Knoblauch | | | |  | Nasdaq | 13,473.59 | | | | | S&P | 4,288.70 | | | | | Dow | 33,223.83 | | |  | 10-Year | 1.971% | | | | | Bitcoin | $38,434.61 | | | | | CrowdStrike | $182.88 | | | | *Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean. | - Markets: Did not see this one coming. US stocks climbed out of a deep hole to close higher as investors piled into Big Tech names. One sector that got a boost from the war's outbreak was cybersecurity: Firms like CrowdStrike surged in anticipation of more cyberattacks from Russia.
- In Moscow: The MOEX benchmark stock index plunged 33%, causing Russia's wealthiest people to lose $39 billion in less than 24 hours.
| | Daniel Leal/AFP via Getty Images Russia ramped up its all-out assault on Ukraine that began Thursday morning, leading to dozens of casualties, harsher sanctions from the West, and more turmoil around the world. Here are the latest updates from the largest ground war in Europe since WWII. The Russians are closing in on Kyiv. Despite meeting fiercer-than-expected Ukrainian resistance, Russian forces advanced to the outskirts of the capital and hit Kyiv with a series of airstrikes Friday, forcing residents to hide out in subway stations (some of which were built by the Soviets deep underground to double as bomb shelters). - Addressing the nation, President Volodymyr Zelensky said the Russians are coming after him specifically. "The enemy has marked me as enemy number one."
The West hit Russia with more sanctions. The US unleashed a barrage of new economic penalties on Russia, which included the cutting off of Russia's largest bank from the US financial system, export controls on high-tech parts, and sanctions on more Russian elites. Other Western powers such as the EU, Australia, and Canada, joined the US in its sanctions jamboree. - The scope of these sanctions is unprecedented. Edward Fishman, a former sanctions lead in the Obama administration, told Axios these moves are "far beyond what we contemplated" following Russia's annexation of Crimea in 2014. "The Russian financial sector is by and large isolated now from the global financial system."
- However, Western leaders have thus far decided not to block Russia from the SWIFT global payments system, which has outraged the Ukrainian government.
People around the world protested the war, including in Russia, where spontaneous mass demonstrations can get you thrown in jail. Thousands of people took to the streets anyway to chant "no to war," and more than 1,700 people were detained as of last night. Even sports were caught in the crossfire. UEFA, European football's governing body, will move its Champions League final out of St. Petersburg, Russia, where it was set to be held in May. Formula 1 said it's monitoring the situation closely, but September's Russian Grand Prix is still on the calendar. One star driver, Sebastian Vettel, said he wouldn't participate. Looking ahead…more than 100,000 people have fled the country already, but Ukrainian men aged 18–60 are required to stay as part of the martial law that has been imposed. Many are preparing to take up arms, including the mayor of Kyiv, former heavyweight boxing champion Vitali Klitschko. "I don't have another choice. I have to do that. I would fight," he said.—NF | | Ukrainian military vehicles drive past Independence Square in central Kyiv. Daniel Leal/AFP via Getty Images. Doomscrolling again? Yeah, us too. To help cut through the clutter, we found 10 useful resources to help you stay informed about this rapidly evolving conflict. 1. Russia's attack, as shown in maps. (BBC and the New York Times) 2. A photo gallery of the first day of the Russian invasion. (NPR) 3. A list of credible Twitter accounts to follow the news from Ukraine. 4. "Vladdy Daddy" memes capture the bleak helplessness many people are feeling as Russia invades Ukraine. (BuzzFeed) 5. Russia could use cryptocurrency to blunt the force of US sanctions. (New York Times) 6. How newspapers across the world covered Russia's invasion. (Fast Company) 7. How Ukraine emerged as the front-line of tensions between Russia and the West. (BBC) 8. Key facts about Ukraine. (Visual Capitalist) 9. A thread on what could happen if Russia is able to establish a puppet regime in Ukraine. (Dmitri Alperovitch) 10. 10 fake photos and videos from Russia's invasion of Ukraine. (Gizmodo) | | Tesla  The Musk brothers probed for insider trading: The SEC is reportedly investigating whether Tesla stock sales by Elon Musk and his brother, Kimbal Musk, violate insider trading rules. Kimbal serves on Tesla's board of directors and sold 88,500 shares one day before Elon tweeted a poll asking followers if he should sell 10% of his Tesla stock.
 Jobless claims go back to the '70s. The number of Americans filing for unemployment benefits dropped to their lowest level in 52 years last week. These numbers, coupled with January's impressive jobs growth and a low unemployment rate of 4%, show that Omicron was just a hiccup in the labor market's rapid recovery. The US added the most jobs on record last year—6.4 million.
 NYC subway tests out platform barriers. The MTA said Wednesday that three subway stations will pilot platform barriers that prevent passengers from jumping, falling, or being pushed onto tracks. This is a hard pivot from the agency's previous statements that platform barriers, which are common in metro systems outside of the US, were too costly or complicated to implement. Calls for barriers aren't new, but there's been increased urgency to adopt them after 40-year-old financial analyst Michelle Go was shoved onto the tracks and killed in January.
| | | Ya just don't see perks in a card like this every day. Let's cut to the chase—with this nifty card, you can enjoy benefits like: - 0% interest until 2023 on both purchases and balance transfers
- Earn up to 5% cash back in rotating categories you'll actually use
- Pay no annual fee
If you read that list twice, we don't blame ya. Perks like 0% interest until 2023 and up to 5% cash back are as rare as a double rainbow—a double rainbow with a nice little pot of gold. Which is also why this card has been rated as a top cash back card by the experts at The Ascent. Learn more about applying right here. | | Pavlo Pakhomenko/NurPhoto via Getty Images Stat: Russia and Ukraine combined account for one-third of global wheat exports, one-fifth of the corn trade, and nearly 80% of sunflower oil production, per the USDA. The war has caused prices to skyrocket, raising concerns about food security in the Middle East and North Africa, which largely depend on Ukraine for their wheat. Lebanon, for instance, imports 50% of its wheat consumption from Ukraine. Quote: "I cannot entertain you when Russian missiles are falling on Ukraine. When residents of Kyiv are forced to hide in basements and in the metro, while people are dying." Popular Russian rapper Oxxxymiron announced he's postponing his upcoming gigs in Moscow and St. Petersburg indefinitely, joining other Russian celebs in speaking out against the war. Read: Why does Google still have that "I'm Feeling Lucky" button? (Real Life) | | The feeling of getting a 5/5 on the Brew's weekly news quiz has been compared to the first squeeze of a fresh tube of toothpaste. It's that satisfying. Ace the quiz. | | - The CDC will significantly loosen federal mask guidelines today, according to the AP.
- Moderna said that Covid was entering an "endemic" phase in the Northern Hemisphere, but predicted that many people will need another booster shot in the fall.
- Reddit launched a Discover tab for its iOS and Android apps that provides for a Pinterest-like, scrollable grid experience.
- The MLB season will be shortened if a deal between the players and owners isn't reached by EOD Monday.
| | Have you ever felt in over your head at work? Like any day your boss will find out you Google 95% of the things you're supposed to know? Well, so has everyone—even the people you look up to the most. In order to show that nobody has it all figured out, Morning Brew launched a new podcast, Imposters, where the Brew's executive chairman, Alex Lieberman, sits down with the most respected names in business, sports, and entertainment to talk about how they overcame their personal challenges. Check out Imposters here. | | What can you expect from this tax szn? A $100K accuracy guarantee. Deduction maximizers. A maximum-refund guarantee. Free, unlimited access to tax experts. A refer-and-earn program. Tax calculators. The. Best. Price. File with TaxAct today.* You and your moolah gettin' the most outta life. Facet Wealth offers financial planning that focuses on the whole picture—not just your assets. Their human-plus-tech approach gives personalized, unbiased advice for all your big (and small) money decisions. Get two months free in your first year.* Things got weird on the internet yesterday: Here's a poem addressed to Putin, a less-than-stellar TV transition, and Ukraine's official Twitter account calling on the company to remove Russia's account. What to watch this weekend: The Gilded Age on HBO Max for an escape, Kimi on HBO Max for…not an escape, the interactive trivia show Cat Burglar on Netflix, and Dimension 20 on YouTube for comedians playing D&D. *This is sponsored advertising content | | Today's puzzle has a Batman-level origin story. In the early days of PayPal (you know, when Elon Musk and other future moguls roamed the office), the company would circulate an internal newsletter that featured a single trivia question. Today's riddle is one of those long-lost questions. It was sent to us by Jimmy Soni, who unearthed these newsletters while doing research for his new book on the early days of PayPal, The Founders. OK, here goes: I am a fire. Change one letter and I am a knife. Change another letter and I am a clearing. Change another letter and I am a rank. Change one final letter and I am a fruit. What was I and what did I become? | | In the newest episode of Brew Breakdown, we explain what you can expect when you file your taxes. Nervous you might be paying Uncle Sam this year and not getting a refund? Win some extra cash to help cover those expenses. Subscribe to our YouTube channel and comment on this video with which topic we should break down next. Once you do, you'll be in the running to win $1,000. We will pick three lucky winners on February 28. *Terms and conditions apply. US entries only. | | Blaze → grape The journey: blaze → blade → glade → grade → grape | | | ✤ A Note From Facet Wealth Disclosure: Facet Wealth is an SEC Registered Investment Advisor headquartered in Baltimore, Maryland. This is not an offer to sell securities or the solicitation of an offer to purchase securities. This is not investment, financial, legal, or tax advice. | | | Written by Neal Freyman, Matty Merritt, and Max Knoblauch Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - Emerging Tech Brew: AI, crypto, space, autonomous vehicles, and more
- HR Brew: analysis of the employee-employer relationship
- Marketing Brew: the buzziest happenings in marketing and advertising
- Retail Brew: retail trends from DTC to "buy now, pay later"
Accelerate Your Career → - MB/A: virtual 8-week program designed to broaden your skill set
| ADVERTISE // CAREERS // SHOP // FAQ
Update your email preferences or unsubscribe here.
View our privacy policy here.
Copyright © 2022 Morning Brew. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011 | |
No comments:
Post a Comment