New Painkiller's Promising Results

Good morning and happy Wednesday! DoorDash is taking a big swing with its upcoming Super Bowl ad. The delivery service will bring every single item featured in a national commercial during the big game to a lucky winner. That includes a few cars, a lot of candy and chicken wings and many other prizes. Good luck figuring out how to tip. Have a great day!

In Today’s Brief

• Biden: Jordan attack response set

• Ukraine: Zelensky denies firing top general

• China: Xi makes election promise

• UPS: Layoffs after revenue drop

• Chita Rivera: Broadway legend dies

… and more

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Top Tips

1) Pharmaceutical progress

A Boston-based company's experimental painkiller has achieved a key goal.

• How it works: Vertex Pharmaceutical's drug blocks pain signals at their origin before they reach the brain. It is a non-opioid painkiller and is designed to be non-addictive.

• The test: The drug, known as VX-548, did not outperform prescription painkiller Vicodin in a Phase 3 trial. But it was more effective in significantly reducing post-surgical pain compared to a placebo -- Vertex's primary objective.

• Next steps: Vertex plans to file for FDA approval later this year. Wall Street analysts believe it could drive annual sales of over $5B if it hits the market. It could also be a much-needed treatment alternative amid a national opioid addiction crisis.

2) House member probed

Missouri Rep. Cori Bush is under investigation for misusing federal funds.

• The situation: The Department of Justice is looking into whether Bush, a Democrat, improperly spent taxpayer money on personal security. Bush confirmed the investigation and said she will cooperate.

• At issue: Bush, a member of the progressive "Squad" of House members, married one of her security guards last year. The investigation reportedly centers around payments to him. Bush said the relationship predates her time in office and her husband is qualified for the job and works at a below-market rate.

• Big picture: Bush represents a reliably Democratic congressional district, but faces a tough primary race against St. Louis County Prosecutor Wesley Bell. Bush has also faced significant criticism for her stance on the Israel-Hamas war in Gaza.

3) Political intrigue

Robert F. Kennedy Jr. is open to mounting his presidential bid as a member of the Libertarian Party.

• Party shuffle: Kennedy, the son of late former Attorney General Robert F. Kennedy and nephew of late former President John F. Kennedy, initially sought the Democratic Party's nomination in April. He then declared an independent candidacy last October.

• Why he's interested: Earning the Libertarian nomination would significantly boost Kennedy's ballot access. The Libertarian Party had its presidential candidate automatically qualified in all 50 states in 2016 and 2020. Kennedy has only officially qualified for Utah's ballot so far.

• Big picture: President Joe Biden's supporters are concerned a third-party candidate could swing the election to former President Donald Trump, the presumed Republican nominee. Kennedy has polled above or close to the 15% threshold for presidential debate invitation in several recent national surveys.

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Quick Tips

U.S. News

• President Biden has determined a response to the fatal drone strike on a U.S. military outpost in Jordan, but he did not elaborate. Three troops were killed and dozens injured; an Iranian-backed militia group has claimed responsibility (More)

• A verdict in former President Trump's New York civil business fraud trial is expected today. Judge Arthur Engoron could fine Trump as much as $370M (More)

• Speaker of the House Mike Johnson said he will block a Senate border security bill to benefit Trump’s re-election bid. The upper chamber's bill is not yet complete, but the former president has publicly criticized it (More)

World News

• Ukrainian President Volodymyr Zelensky denied reports he is firing the country's top military commander. Valery Zaluzhny and Zelensky have had public disagreements in recent months as the war with Russia has become a stalemate (More)

• Northern Ireland's Democratic Unionist Party has agreed to end a two-year parliamentary boycott, restoring a regional power-sharing government. Sinn Fein's Michelle O'Neill is set to become the country’s first republican First Minister (More)

• Former Pakistani Prime Minister Imran Khan received a 10-year prison sentence for revealing state secrets. The former cricket star is already imprisoned on corruption charges; he claims the convictions are politically motivated (More)

Campaign News

• Chinese President Xi Jinping reportedly promised President Biden his country will not interfere in the 2024 U.S. elections. China reiterated the pledge during a diplomatic summit last week (More)

• The main super PAC supporting Biden's re-election campaign plans a record-setting $250M advertising spend this fall. Future Forward will begin the ad blitz across seven swing states in August (More)

• Traffic to political news websites is down from the 2016 and 2020 election cycles. Television ratings have also dropped significantly through the first two Republican primary contests (More)

Business & Markets

• Major indexes closed mixed yesterday as the markets awaited today's Federal Reserve decision on rate policy. The Dow Jones did jump over 100 points (Dow +0.35%, Nasdaq -0.76%, S&P 500 -0.06%).

• UPS will cut 12K non-union jobs after a $9B revenue decline YoY in 2023. The layoffs will impact 3% of the company's global workforce (More)

• Elon Musk's $56B Tesla pay package was rejected by a Delaware judge after a shareholder lawsuit. The compensation plan was the largest in corporate history (More)

Entertainment & Sports

• Chita Rivera died at 91 after a brief illness. The two-time Tony Award winner performed in the original Broadway runs of Chicago and West Side Story (More)

• Professional soccer clubs worldwide spent a record $9.6B on player transfers in 2023, according to FIFA. The total was a nearly 50% YoY increase; English clubs accounted for $2.9B in transfer fees (More)

• Elton John will be honored by the Library of Congress. The singer and longtime writing partner Bernie Taupin will receive the Gershwin Prize for Popular Song in March (More)

Quick Hitters

• Feel Good: A bride-to-be founder herself with a $15K non-refundable reception venue deposit after suddenly calling her wedding off. So she turned it into a big party for families with special-needs children.

• New Idea: Retailers are putting more and more products in locked cages to prevent shoplifting. What if there was an app to open them, rather than calling for an employee to assist?

• Go Deep: Stanley Kubrick's Cold War satire Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb just turned 60. But the inspiration for the central character remains mystery. There are some clues, though.

• Take Note: Many people avoid naps because they are worried about affecting their sleep. But power napping is becoming a trend, and science suggests a midday snooze is good for your heath.

• Life Hack: De-icing your windshield after a winter storm is a colossal pain. It is arguably worse than shoveling snow. But here is a homemade remedy to quickly remove the frost.

• Get Healthy: Pop quiz: What’s the body’s most abundant protein? The answer: Collagen. NativePath's Certified Grass-Fed Collagen Powder is made from grass-fed, pasture-raised cows and contains 18 grams of protein per suggested serving. Start incorporating it daily to support skin elasticity, joint health, bone strength, and muscle growth and maintenance.*

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Watch This

The first trailer for The Ministry of Ungentlemanly Warfare has been released. The film, inspired by actual events, stars Henry Cavill as the leader of a motley British special forces team fighting the Nazis during World War II.

Links

• It takes a while for people to get hitched in Washington D.C. 💍

• British politicians are swearing a lot and people are not amused 🤬

• An AI-made George Carlin comedy show has sparked a lawsuit ⚖️

• Americans are feeling quite lucky these days 🎰

• Inside an effort to make psychedelics available by prescription 🩺

• Get ready to go rock climbing while drinking your coffee ☕️

• Super Bowl tickets are selling for record highs 🎟️

• Rich people who freeze themselves want to return rich, too 🥶

• Explaining why 'Pookie' has become a star on TikTok 📱

• An Indian court will decide who invented butter chicken 🍛

Looking Ahead …

Attorney General Merrick Garland will have back surgery on Saturday and will temporarily transfer power to Deputy Attorney General Lisa Monaco. The Department of Justice made the announcement days ahead of time after the recent controversy surrounding Secretary of Defense Lloyd Austin's undisclosed hospitalization for prostate cancer surgery and a urinary tract infection.

Question of the Day

Yesterday’s results:

Do you own a Roomba or other robot vacuum?

• No (74%)

• Yes (26%)