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Here are the headlines you Need2Know for Thursday, May 5, 2022:


The U.N. reports that nearly 350 more civilians have been evacuated from Mariupol and four other towns, while AP evidence indicates 600 died in the Mariupol theater airstrike. Meanwhile, Western officials are looking ahead to May 9, when Russia celebrates its Victory Day holiday commemorating the country’s defeat of the Nazis in 1945. Russian President Vladimir Putin traditionally delivers a nationalistic speech and hosts a military parade, which was rehearsed yesterday. This year, anxiety is growing that he may use the platform to lash out at Ukraine and the West as a prelude to intensifying the war. AP


The Federal Reserve is taking a big swing at higher prices. The central bank raised its benchmark interest rate half a percent — the steepest increase in two decades — in an attempt to bring down inflation from a 40-year high. In theory, the rate hike should trickle down to the rest of the economy and compel businesses and consumers to cut spending, but in reality, it's unclear if the Fed is actually in the driver's seat on inflation. Many economists argue that rate hikes won't address the supply chain issues currently pushing up prices, and that inflation is more likely to come down on its own in the coming year. CHEDDAR

Fingers crossed. 


Secretary of State Antony Blinken tested positive for Covid-19 yesterday. Blinken, 60, who is fully vaccinated and boosted, is experiencing mild symptoms and will now isolate at home. The secretary of state is not considered a close contact of President Joe Biden, who tested negative yesterday. Blinken joins a number of reporters who also tested positive after attending the White House Correspondents' Dinner on Saturday night — most notably ABC’s Jon Karl, who shook hands with Biden and was seated next to Kim Kardashian during the gathering of over 2,000 people. CBS NEWS

If Covid was strep throat the vaccine would be a cough drop. 


Failing to convince Wall Street that driver shortages are in the past, Lyft stock plunged as much as 35%, losing more than a quarter of its total market value after the ride-hailing company’s second-quarter outlook disappointed investors. The gloomy numbers even weighed on its counterpart Uber, which saw shares decline as much as 11%, despite reporting a strong first quarter and a positive outlook for the next. During pandemic shutdowns, Uber and Lyft had trouble finding riders; now, the companies struggle to recruit drivers because of rising gas prices — and the labor shortage that’s plaguing U.S. businesses. BLOOMBERG

When we said we wanted driverless cars, this isn’t what we meant. 


Venture capitalist John Doerr is giving $1.1 billion to Stanford University to launch a school focused on climate change and sustainability. It’s the second-largest donation ever given to a university, behind Michael Bloomberg’s 2018 gift of $1.8 billion to Johns Hopkins University. The new Stanford Doerr School of Sustainability will provide academic coursework on topics such as planetary science, energy technology and food-and-water security. Doerr made his $11 billion fortune backing blue chip tech companies like Google, Amazon and Intuit. NY TIMES

Imagine donating $1 billion and still being rich. 


And Intuit may need some more of that backing. The financial services company reached a settlement requiring it to pay $141 million to customers who paid to file taxes with TurboTax during its now-suspended “free, free, free” ad campaign. As restitution, 4.4 million customers will receive a direct sum of approximately $30 for each year they paid for the TurboTax Free Edition in tax years 2016-2018, despite being eligible for the free version of the IRS Free File program. AP

$141 million sounds a lot more exciting than $30. 


ELON’S PROFILE PIC EFFECT: When Elon Musk changed his Twitter profile picture to a collage of avatars from the Bored Ape Yacht Club NFT collection, shares of ApeCoin — the token launched by Bored Ape's creators — surged 19% to $17.64 in the following hour, before falling back to below $16. It wasn’t clear whether the profile picture was actually an NFT, as the Tesla CEO jokingly tweeted, “I dunno … seems kinda fungible.” COINDESK

CELEB-FUNDED APP LAUNCH: Animation app immi, which secured investments from high-profile names like Mark Cuban, Pitbull and Paris Hilton, has launched in Apple's App Store. Tailored toward casual creators, the app help users make animations that can be turned into NFTs using only their facial expressions. The animated content can then be shared on social media or in the metaverse. In a press release, the immi said it’s “like having your own animation studio in your pocket.” REUTERS

If you thought NFTs are worthless now, wait until we make one. 


In its recent earnings report, The New York Times said, “Wordle brought an unprecedented tens of millions of new users to The Times.” According to CEO Meredith Kopit Levien, many of the Wordle players didn’t just play the viral game and leave; they stayed to sign up for the $5 monthly games subscriptions, leading to 387,000 new digital subscribers in the quarter. Proving to be a savvy investment, The Times bought Wordle from creator Josh Wardle in January for “an undisclosed price in the low seven figures.” THE VERGE

There’s nothing low about seven figures.



Today is Cinco de Mayo, a Mexican holiday celebrating the 1862 Battle of Puebla, when 2,000 Mexican troops defeated 6,000 French soldiers, denying French Emperor Napoleon III’s attempt to claim the territory for France at a time when Mexico was especially economically vulnerable. A 2020 study showed that 40% of Americans believed Cinco de Mayo is Mexico’s Independence Day, but that’s a separate holiday celebrated on Sept. 16. So, if you’re an American enjoying a half-off margarita tonight, please celebrate responsibly ... and respectfully. USA TODAY

So THAT’S what we’re celebrating. 



… Tom Brady heading to Germany. Well, not now, but in November, when Brady’s Tampa Bay Buccaneers play the NFL’s first ever game in Germany against the Seattle Seahawks at Munich's Allianz Arena. ESPN

The Seahawks hope Brady is at his wurst. 

… Dolly Parton, Eminem and Lionel Richie entering the Rock & Roll Hall of Fame. Parton had notably chosen to “respectfully bow out,” but later accepted the invitation after all. Other inductees include Duran Duran, Carly Simon and Pat Benatar. CHEDDAR

Dolly Parton is as rock and roll as Metallica is country.


Aml Ameen on Having an All-Black Writers Room for BET’s 'The Porter'
Actor Aml Ameen joined Cheddar News to give an inside look into starring in BET’s "The Porter," and how an all-Black writers' room helps the show remain authentic. CHEDDAR
Need2Know Podcast Note: The Need2Know podcast is taking a break for now. We're looking forward to bringing you more context and analysis on the big stories of the day in a few weeks. In the meantime, check out our archive on Apple or Spotify, or watch on YouTube, and send us your feedback!