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Supreme Court Sides With Trump

Your unbiased daily news brief

Good morning and happy Tuesday! If you have ever wanted Applebee's and IHOP to merge, we have good news for you. Dine Brands Global, the parent company of both restaurant chains, is considering joint locations in the U.S. after successful launches in other countries. Have a great day!

In Today’s Brief

  • FBI: Seeks Iranian assassin

  • France: Abortion is constitutional right

  • Super Tuesday: Slew of primaries

  • Apple: Massive EU fine

  • Fox: Orders Baywatch reboot

... and more

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Top Tips

1) Ballot bailout

The Supreme Court says former President Donald Trump can be on the ballot this fall.

  • Unanimous decision: The high court rejected Colorado's ruling to bar Trump from its ballot on 14th Amendment grounds with a 9-0 vote. The ruling was specific to Colorado, but also overrides similar ballot bans in other states.

  • Key context: The justices did not address whether Trump's actions related to the Jan. 6 Capitol riot constituted insurrection; they just said Congress has to make the determination rather than a state. The court was divided on whether states can bar insurrectionists from a ballot without federal action.

  • Big picture: Maryland Rep. Jamie Raskin will revive legislation allowing the Department of Justice to sue to bar candidates from ballots on 14th Amendment grounds. But it will be a non-starter in the GOP-held House. Trump will be able to run.

2) Caribbean chaos

Haiti is under siege after armed gangs broke almost 4K inmates out of prison.

  • What happened: The government declared a state of emergency after an attack on the National Penitentiary, the nation's largest prison. Gangs now control about 80% of Port-au-Prince, the capital city. The gangs have attacked police stations and the country's international airport.

  • The demands: Jimmy Cherizier -- a prominent gang leader -- has called on the country's warring criminal factions to unite and oust Ariel Henry, the acting prime minister. Henry's whereabouts are unknown; he was in Kenya last week trying to enlist a multinational force to restore order in Haiti. 

  • Big picture: The gang attacks appear to be a coordinated attempt at a coup; The White House expressed concern and called for violence to end. Haiti has struggled since a devastating 2010 earthquake; late President Jovenel Moise was assassinated in 2021.

3) Permanently grounded

JetBlue Airways and Spirit Airlines have officially abandoned their doomed $4B merger plan.

  • Catching up: A federal judge blocked JetBlue's attempted takeover plan in January. The decision came after a Department of Justice lawsuit arguing the merger would negatively impact consumers seeking budget air travel.

  • Kill fee: The airlines appealed the ruling, but mainly because it was a condition of their pact; there was never much hope for a reversal. JetBlue will pay Spirit $69M to end the deal.

  • Big picture: Spirit faces significant financial challenges moving forward. The company has said it can weather the storm, but some analysts wonder if it could revisit merger talks with budget rival Frontier Airlines.

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Quick Tips

U.S. News

  • The FBI has launched a manhunt for an Iranian intelligence operative it says is plotting to assassinate current and former U.S. officials. Majid Dastjani Farahani has allegedly targeted ex-Secretary of State Mike Pompeo and others (More)

  • Former Air National Guardsman Jack Teixeira pleaded guilty to leaking classified documents on Discord. He faces a sentencing range of 11-17 years as part of his plea deal (More)

  • The Coast Guard and British sailors intercepted 6K pounds of cocaine and other drugs off the U.S. Virgin Islands. The street value of the drugs is about $280M (More)

World News

  • France has enshrined abortion as a constitutional right. It is the first country to do so; President Emmanuel Macron's critics called it a political ploy given the nation's lack of debate on the subject (More)

  • Chinese Premier Li Qiang will not hold a press conference during the country's annual parliamentary meetings. The decision breaks a 30-year precedent for some insight into government policymaking (More)

  • Distracted drivers caused a train crash in India that killed 14 people. The nation's railway minister said the conductors were watching an India-England cricket match on a cell phone and missed a signal, hitting another train (More)

Campaign News

  • Super Tuesday is here. There will be presidential nominating contests in 16 states and one territory today; former President Trump is favored to sweep former South Carolina Gov. Nikki Haley in the GOP race (More)

  • California's top-2 Senate primary is the highest-profile non-presidential vote today. Former MLB star Steve Garvey, a Republican, has surged into a statistical tie for first place with Rep. Adam Schiff, a Democrat (More)

  • AIPAC is expected to spend $100M across its political entities in 2024. The pro-Israel group is targeting candidates it believes are not supportive of the country and its war in Gaza (More)

Business & Markets

  • Major indexes closed lower yesterday to open the week. The Dow Jones was down nearly 100 points (Dow -0.25%, Nasdaq -0.41%, S&P 500 -0.12%).

  • The European Union fined Apple $2B for breaching competition rules. The tech giant was charged with blocking Spotify from informing users of payment options outside the App Store; Apple will appeal the ruling (More)

  • A joint Disney-Fox-Warner Bros. sports streaming service expects to reach 5M subscribers within five years of launch. Fox CEO Lachlan Murdoch said the platform aims to launch by this fall (More)

Entertainment & Sports

  • Fox has ordered a pilot for a Baywatch reboot. The popular series about lifeguards starring David Hasselhoff and others ran from 1989-2001, mostly in syndication (More)

  • Philadelphia Eagles center Jason Kelce announced his retirement. The 13-year-veteran is considered a likely future Pro Football Hall of Famer; he will be in demand among NFL broadcast partners (More)

  • NSYNC will reunite for a single on Justin Timberlake's upcoming album. The song Paradise will be on Everything I Thought It Was, which comes out March 15 (More)

Quick Hitters

  • Be Safe: Trader Joe's has recalled almost 62K pounds of frozen chicken soup dumplings. They may contain pieces of hard plastic.

  • Go Deep: A new study found 90% of tattoo inks have mislabeled or unlabeled ingredients. This could lead to greater regulation of the supplies.

  • Take Note: Not sure what the term "toxic positivity" means? This helpful chart can explain.

  • New Idea: A microbe recovered by a NASA scientist from a hot spring at Yellowstone National Park can fight hunger. The fungus is used to create protein-packed foods.

  • Travel Hack: Try the "333 Method" next time you pack your carry-on luggage. The simple formula allows you to create a dozen outfits with limited items.

  • OPTIMIZE ME: Researchers “found convincing evidence that higher intake of ultra-processed foods was associated with 50% increased risk of cardiovascular disease-related death, a 48% to 53% higher risk of anxiety and common mental disorders, and a 12% greater risk of type 2 diabetes”

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There are downsides to being a so-called "helicopter parent," as this video explains.

Looking Ahead …

Federal Reserve Chairman Jerome Powell will begin his semi-annual monetary policy testimony tomorrow on Capitol Hill. His comments to Congress will be scrutinized for hints on interest rate cut timelines.

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