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Here are the headlines you Need2Know for Wednesday, May 11, 2022:


Attacks carry on as Russian aerial strikes — which Ukraine says were hypersonic missiles — hit two hotels and a shopping mall in Odessa. Additionally, investigators from the United Nations recorded the unlawful killing of 300 civilian adults and children in areas near Kyivl since April, and the assault on the Azovstal steel plant continues, with officials saying more than 1,000 Ukrainian troops and at least 100 civilians remained trapped. In the U.S., the House of Representatives voted to send nearly $40 billion in emergency military and humanitarian aid to Ukraine, $7 billion more than President Joe Biden’s initial request; the Senate is expected to approve the package this week. WASHINGTON POST


If his deal to buy Twitter closes, Elon Musk will allow former President Donald Trump back onto the platform. At a conference yesterday, Musk — who vows to restore free speech to Twitter — called the permanent ban of Trump a mistake, citing that it took away Trump’s voice and alienated a large part of the country. Following the Jan. 6 insurrection, Trump was kicked off Twitter after it said he violated rules against inciting violence. However, this story comes with multiple caveats: Musk, of course, doesn’t own Twitter yet, and even if the ban is reversed, Trump has said he still won’t rejoin the social network. BLOOMBERG

Everyone likes to be invited to the party, but it doesn't mean they want to go.


President Joe Biden addressed rising inflation rates on a day where gasoline prices hit an all-time high with a national average of $4.27. Biden said that fighting inflation was his top domestic priority, slamming a GOP solution to raise taxes on tens of millions of Americans, and saying his administration is discussing a solution that entails easing tariffs against China. Today, the latest Consumer Price Index releases, letting Americans know just how inflated prices are. But how exactly is this measured? It’s a smaller, less formal effort than you might think. Labor Department economists literally travel to retailers like beauty salons to check the price of a blowout, or funeral parlors to learn what they are charging for cremation services. HOW IT WORKS


Enjoy Netflix without ads while you can. Netflix executives said they are working to introduce its lower-price, ad-supported tier by the last three months of 2022. In a recent earnings call, CEO Reed Hastings said it would take at least a year for ads to pop up, though the streamer appears to be ahead of schedule. Netflix made the announcement in a note to employees, which also said it plans to crack down on password sharing among its subscribers around the same time. As the streamer projects to lose subscribers by the millions in the coming months, Netflix is caving to ad-supported subscriptions to offset significant business challenges. NY TIMES

Adding commercials and removing password-sharing? Was this Hulu’s idea?


Peloton thrived during the pandemic, growing from 700,000 subscribers to 3 million. But that growth has slowed, leaving the company loaded up with a substantial inventory of unsold bikes and treadmills that’s eating the company’s cash. To stop the bleeding, the company announced a binding commitment to borrow $750 million from JP Morgan and Goldman Sachs, after it reported wider-than-expected quarterly losses and a steep decline in sales. As investors remain unsure of the company’s post-pandemic potential, Peloton shares tumbled as much as 29% yesterday before rallying to a 8.7% loss on the day. CHEDDAR


A Turkish airline flight aborted takeoff in Israel after passengers began receiving text messages of images containing plane crashes. The images allegedly showed a Turkish Airlines plane that crashed in the Netherlands in 2009, and another plane crash in the U.S. in 2013. The plane was taxiing the runway when passengers alerted flight attendants about the messages, ultimately leading to all passengers being forced to leave the aircraft for security checks. Nine of the 160 passengers aboard the AnadoluJet flight were detained at the Israel airport, as officials said that sending such images constituted a threat to carry out an attack. TIMES OF ISRAEL


After 20 years, iPods are officially becoming a thing of the past. Apple announced it is discontinuing the iPod Touch, the last version of the portable music player the company still sells. Originally introduced in 2001 as an “Ultra-Portable MP3 Music Player Puts 1,000 Songs in Your Pocket,” iPods became a smash hit, ushering in a new era of music with its sleek design and enabling users to buy songs for 99 cents. Though the iPod Nano and Shuffle were taken off shelves in 2017, the last iteration of the iPod Touch will be available for $199 while supplies last.  APPLE



Some have championed Bitcoin as a kind of "digital gold" that, unlike the broader stock market, is immune to the effects of high inflation rates. But since January, Bitcoin's price has played follow-the-leader with growth stocks, as its 30-day correlation with the tech-heavy Nasdaq index recently reached an all-time high. This suggests that, contrary to the aforementioned Bitcoin loyalist’s claims, the cryptocurrency is feeling the same pressure from tightening financial conditions as the rest of the stock market. Cheddar’s Alex Vuocolo spoke with analysts to get a firm answer to the question: Is Bitcoin just another risky asset? CHEDDAR


The GOAT has his retirement plans in order. Legendary quarterback Tom Brady is joining Fox Sports as the network’s lead analyst once he retires from playing football. The seven-time Super Bowl champ will be calling games alongside play-by-play announcer Kevin Burkhardt, Fox CEO Lachlan Murdoch announced in a call with investors. Brady is returning to the field next season with the Tampa Bay Buccaneers, and Murdoch says it’s “entirely up to” Brady when he decides to retire from football and join Fox. Brady’s contract with Fox Sports has him on the books for a 10-year, $375 million contract. During his 20-plus-year playing career, he’s made $300 million. CHEDDAR

How to get someone to work after retiring? Pay them $375 million.


… A new Starbucks drink just dropped: the chocolate cream cold brew. It’s a cold brew coffee sweetened with vanilla syrup and topped with a "light, sweet and silky" chocolate cream cold-foam. You can get a cup for $5.25 to $5.45, depending on the location of your local Starbs. CNN

… Taco Bell’s Mexican Pizza is getting a Tik Tok musical starring Dolly Parton. The satirical musical will be based on the Internet uproar that took place after the chain removed the popular product in 2020. “Mexican Pizza: The Musical” will premiere on Tik Tok on May 26, one week after Mexican pizza returns to Taco Bell’s menu. ENTERTAINMENT WEEKLY

Mexican Pizza, Dolly Parton, Tik Tok… 2022 is exhausting.


"I myself have been written up to HR over a hundred times.”

--Actress Casey Wilson, poking fun at the name of her new show, “Human Resources.” She joined Cheddar to talk about the show, her podcast, and her partnership with Hellmann’s which involves spicy mayonnaise. CHEDDAR
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