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- The Penny's 238-Year Run May Be Over
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In Today’s Brief
New Mexico: Police corruption
Egypt: Emergency summit
Kim: Shutdown threat
Dow Jones: Rough session
Anora: Oscars favorite
... and more
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Top Tips
1) Common cents
The penny's days could finally be numbered.
The news: President Donald Trump said he told the U.S. Treasury to stop producing "wasteful" one-cent coins, citing the cost of making them. The move came after billionaire Elon Musk's so-called Department of Government Efficiency recently raised the idea of ending a practice that dates back to 1787.
Key context: Trump's idea is not a new one. Many have called for the penny's abolishment for years (and even decades) due to the costs involved with production. It cost the U.S. Mint almost four times the value of a penny to make one during FY2024. A federal report said the government lost over $85M while producing over 3B pennies during the fiscal year.
Big picture: Eliminating the penny would require an act of Congress, but Trump likely has the authority to block the minting of new pennies. There are already roughly 250B pennies in circulation, so nothing will change overnight. The U.S. Mint loses more money minting the nickel, so that coin could soon be in the crosshairs.
2) Super blowout
The Philadelphia Eagles ruined the Kansas City Chiefs' bid for history.
The news: Philly romped to a 40-22 win over the Chiefs in Super Bowl LIX in New Orleans' Superdome. It is the Eagles' second Super Bowl victory in franchise history; they also earned revenge after losing to the Chiefs two years ago in Super Bowl LVII.
The MVP: Eagles quarterback Jalen Hurts earned the honor after throwing two touchdown passes and running for another score. The Eagles' defense sacked Chiefs quarterback Patrick Mahomes six times while Philly running back Saquon Barkley set a new NFL single-year record for combined regular season and postseason rush yards.
No three-peat: Kansas City fell short of becoming the first team to win three consecutive Super Bowls (the Green Bay Packers won the 1965 NFL title game before winning Super Bowls I and II in 1966-67). The last team to win three consecutive championships in one of North America's major sports was the Los Angeles Lakers, who captured NBA titles in 2000-02.
3) Diplomatic row
President Trump is involved in another international war of words.
Catch up: South Africa passed a controversial land expropriation law earlier this year. The law does not permit arbitrary seizure and guarantees a legal appeals process, but has been criticized for potentially allowing the government to seize land without compensation under circumstances that have generated criticism.
The news: Trump said he would cut off future funding to South Africa due to the law. He has also directed federal officials to prioritize granting refugee status to Afrikaners, an ethnic group of European descent, claiming the South African government is oppressing them and seizing their land.
Other voices: Musk, born in South Africa, has publicly railed against the law. Secretary of State Marco Rubio said he is boycotting the upcoming G20 summit in Johannesburg due to the situation. Afrikaner groups have declined Trump's offer to leave South Africa while the government rejected claims of land seizures.
Big picture: South African President Cyril Ramaphosa accused Trump of misinformation and downplayed the amount of aid his country receives from the U.S. Land reform is a major issue in South Africa, as over 70% of the country's private farm land is controlled by the white minority decades after apartheid ended
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Quick Tips
U.S. News
Two former police officers in New Mexico pleaded guilty to taking bribes to have DWI cases dismissed. The scheme involved the Albuquerque Police Department; over a dozen officers are believed to be connected and more could be charged (More)
The husband of a slain Army soldier was charged in connection to her death in Tennessee. Reynaldo Salinas Cruz is accused of tampering with evidence in the fatal stabbing of Katia Duenas Aguilar; another woman faces a first-degree murder charge (More)
A U.S. Postal Service supervisor in California pleaded guilty to stealing over $300K in goods. The bulk of her crimes involved lifting checks through the Costa Mesa post office; it is the latest in a string of recent mail theft cases involving postal workers (More)
World News
Egypt will host an emergency summit of Arab nations following President Trump's controversial proposed Palestinian resettlement from Gaza. Israeli Prime Minister Benjamin Netanyahu's pitch to establish a Palestinian state in Saudi Arabia has also been condemned (More | More)
Trump said he spoke to Russian President Vladimir Putin, the first publicly-known contact between the White House and Kremlin since Russia invaded Ukraine. Vice President J.D. Vance will meet with Ukrainian President Volodymyr Zelensky this week in Munich (More | More)
At least 56 people died in a Mali convoy ambush. The Malian Army was escorting the caravan; the incident happened in a region where al-Qaeda and Islamic State affiliates are active and frequently carry out armed attacks (More)
Political News
New Jersey Sen. Andy Kim suggested Democrats could force a government shutdown to protest the Trump Administration's disruption of federal agencies. The funding deadline is March 14; Congressional Republicans would likely need Democratic votes to pass a continuing resolution (More)
President Trump has a 53% approval rating, according to a CBS News/YouGov poll. The survey marks a double-digit jump from the same poll conducted at this point in his first term and one of the best in his political career (More)
Trump said he trusts Elon Musk and the billionaire "is not gaining anything" with his controversial Department of Government Efficiency work. The group's disruption of federal agencies has begun to face increased legal hurdles (More | More | More)
Business & Markets
Major indexes closed lower on Friday. The Dow Jones dropped over 400 points while the Nasdaq slid over 250 (Dow-0.99%, Nasdaq -1.36%, S&P 500 -0.95%).
President Trump claimed Nippon Steel would invest in U.S. Steel, but would not acquire a majority stake. The Japanese steelmaker's $14.9B takeover bid reportedly still stands, creating confusion inside both companies (More)
Elon Musk is out of the TikTok sweepstakes. The billionaire/presidential advisor said he has no plans to place a bid for the social media platform amid speculation about its future; he already owns the X platform (More)
Entertainment & Sports
Anora emerged as the top contender to win Best Picture at next month's Academy Awards. The comedy film won honors at both the Directors Guild and Producers Guild Awards (More)
ESPN college basketball analyst Dick Vitale returned to the broadcast booth after a nearly two-year hiatus due to cancer treatment. NBA analyst Hubie Brown called his final game for the network, retiring at 91 (More | More)
The New York Jets will reportedly move on from Aaron Rodgers. They are expected to release the future Hall of Fame quarterback; it is unclear if he will try to play for another team in 2025 (More)
Quick Hitters
Feel Good: A donkey living at a Canadian animal refuge had his yoga ball pop. Dozens of people answered a subsequent donation call to ensure he never had to go without his beloved toy.
Secret Weapon: A new study found a low-cost way to battle antibiotic-resistant bacteria: Hit it with some turmeric. A compound in the plant weakens superbugs to the point conventional medicine is effective again.
Go Deep: President Trump recently signed an executive order establishing a U.S. sovereign wealth fund. Here is a closer look at what that means and the pros and cons of the idea.
Take Note: Regular exercise can help prevent illness during cold and flu season. But don't try to sweat it out if you do get sick.
Life Hack: There is no easy cure for anxiety -- the condition often requires professional treatment -- but you can fight sudden symptoms with the ice pack likely sitting in your freezer.
Watch This
Universal Pictures has dropped the first trailer for Jurassic World Rebirth, which hits theaters in July.
Links
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Egg heists are becoming a national trend 🥚
Things you may not know about Costco 🛒
Taylor Swift has made the NFL a lot of money 🐍
What happens when you complain about a waiter 🍽️
Old TV shows with very bad premises 📺
Looking Ahead …
Things have to get worse before they get better. The odds of a massive asteroid hitting Earth in 2032 have increased to 2.3%. But further research may still determine the rock won't come anywhere close to impact. Fingers crossed.