☕ Royal break up

One of the biggest strikes ever may be weeks away... [Advertisement] June 17, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [Discover]( Good Saturday morning. Like a school principal interrupting homeroom paper airplane-throwing over the intercom, we’ve got a few quick announcements: There will be a standard Brew Review tomorrow, but we’ll be off for the holiday on Monday. Regularly scheduled programming will resume in your inbox on Tuesday. Let us be the first to say: Happy Father’s Day and Happy Juneteenth! —Sam Klebanov, Abby Rubenstein, Molly Liebergall, Neal Freyman MARKETS Nasdaq 13,689.57 -0.68% S&P 4,409.59 -0.37% Dow 34,299.12 -0.32% 10-Year 3.769% +4.6 bps Bitcoin $26,306.61 +2.84% Virgin Galactic $4.73 +16.50% *Stock data as of market close, cryptocurrency data as of 3:00am ET. [Here's what these numbers mean.]( - Markets: Stocks [hit a lull]( yesterday after a volatile week, with the S&P 500 snapping a six-day hot streak. But it wasn’t all doom and gloom: Virgin Galactic shot to the moon after Richard Branson said it’s getting ready to start commercial space flights this month. And Toyota notched its best week since 2009.  BUSINESS [Looming UPS strike could deliver economic chaos]( [UPS truck]( Justin Sullivan/Getty Images United Parcel Service (UPS) might soon not be at your service as its workers threaten to walk off the job. Members of the Teamsters union representing 340,000 UPS workers voted overwhelmingly to [authorize]( a strike if management doesn’t agree to a new contract with them by July 31. If the labor action happens, it would be the biggest strike against a single employer in US history, with much more than just your drop-shipping dreams at stake. The US without UPS A UPS work stoppage would cause economic mayhem, snarling supply chains in a throwback to the pandemic-era days when tracking one’s delayed Amazon order was America’s favorite pastime. - UPS is the largest shipping service in the nation, according to CNN, moving enough goods to account for about 6% of the US GDP, per the company’s own estimates. - Senders would need to find an alternative delivery method for the 24 million packages (about a quarter of all packages nationwide) that UPS delivers daily, per global shipping and logistics firm Pitney Bowes. Analysts say that companies are already shifting orders to other shipping providers like FedEx and DHL, though no single entity could handle all UPS’s packages. But the logistics chaos can still be averted if the union representing UPS drivers and warehouse workers reaches an agreement with the company. What could send workers to the picket lines? The Teamsters want higher wages, more full-time work, the elimination of what they call “forced overtime,” and better working conditions. Union members are particularly disgruntled by a system in which new employees get paid significantly less than old-timers. The union says that UPS workers deserve a share in the company’s success, as it reached a record $100 billion in revenue last year. Many UPS employees feel shortchanged by a 2018 contract credited with helping the company grow its profits, according to ABC. But, in a hopeful sign that the labor conflict might cool, a major breakthrough in the negotiations was reached on Tuesday when UPS management tentatively agreed to include AC in vehicles purchased after Jan. 1, 2024. Zoom out: If the UPS drivers’ union delivers results, it might inspire employees at other companies, like the workers at Amazon that The Teamsters are also trying to unionize.—SK   TOGETHER WITH DISCOVER [Watch those savings skyrocket]( [Discover]( Whether it’s that new car you’ve been eyeing, your student loan balance, or even a well-deserved vacay, with a solid savings account, what you’ve accrued will be there when you need it most. [Discover®]( help you maximize your savings and minimize any hassles with their Online Savings Account. [Earn interest over 5x* the National Savings Average]( with no monthly balance requirements or fees, no minimum deposits, and 100% US-based customer service 24/7. That’s a lot of wins right there. Discover’s on your team, and their Online Savings Account helps boost your bucks wherever possible. They’re even FDIC insured up to the maximum allowed by law. Water those savings and watch ’em grow. [Start here](. Discover Bank, Member FDIC. WORLD [Tour de headlines](#) [George Floyd memorial]KEREM YUCEL/AFP via Getty Images DOJ finds major problems with Minneapolis police. The city’s police force has routinely [discriminated]( against racial minorities and used excessive force, the Department of Justice said yesterday at the conclusion of a probe into the MPD that it began one day after former officer Derek Chauvin was convicted of killing George Floyd. As a result, the DOJ is working with the MPD on an agreement that would require it to make changes. President Biden called the report “a positive step forward” but also urged Congress to pass a law improving US policing. DraftKings bets bigger than Fanatics on PointsBet. Yesterday, DraftKings [offered]( to buy Australian sports gambling outfit PointsBet’s US business for $195 million, about a month after PointsBet agreed to sell those assets to Fanatics for $150 million (that deal still needs shareholder and regulatory approval). DraftKings says it can get a green light from regulators faster because it already operates in the areas PointsBet does. “I guess they are more concerned about us than I would have thought,” Fanatics CEO Michael Rubin snarked to CNBC, calling the rival offer a bid to delay his company from entering a new market. Ja Morant suspended for 25 games over second gun video. The NBA also imposed conditions on the Grizzlies’ point guard’s return to the game after the [suspension]( which stems from a video posted to social media in May of Morant waving a gun. The punishment was handed down after Morant had already faced an eight-game suspension over an earlier video of him with a gun in a Denver nightclub. ESPN estimated that the latest penalty would cost the player, who was due to make $33.5 million next season, ~$7.5 million. But Nike, which has an endorsement deal with the star, said it would continue “to support him on and off the court.” MEDIA [A royal departure from Spotify]( [Prince Harry and Meghan Markle]( Picture Alliance/Getty Images We can now add Spotify to the list of high-profile institutions Prince Harry and Meghan Markle have parted ways with. The couple’s $20 million deal to create content for the company, announced in 2020 after the pair broke with the royal family, [is over](. It yielded…just one podcast series, Archetypes, hosted by Meghan, which will not be renewed for a second season, despite debuting at the top of Spotify’s charts and featuring guests like Serena Williams and Mariah Carey. For those keeping score, the couple’s efforts to rebrand themselves as media moguls have yielded some hits: Their Netflix docuseries commanded millions of viewers, and Harry’s memoir, Spare, became the fastest-selling nonfiction book of all time. But the deal with Spotify won’t rank as one of their successes—the Wall Street Journal [reports]( the couple didn’t hit the benchmarks to get the full $20 million. Zoom out: Though both sides painted the end of the collab as mutual, the demise of the Sussexes’ deal reflects a larger podcast pivot at Spotify. The company laid off 200 people this month as part of a turn away from exclusive deals like this one. Spotify will now focus on making money off ads rather than using pods to drive sign-ups after investing more than $1 billion in podcasting.—AR   SPONSORED BY CURIOSITY STREAM [Curiosity Stream]( Pass the popcorn. Get your fill of science, history, and technology topics with [Curiosity Stream’s]( original documentaries and shows. With new content dropping every week, you’ll never run out of things to watch. Grab a snack (and your fave device) because [Brew readers get 25% off](. CULTURE [Grimace takes over the internet]( [Grimace, one of the original McDonaldland characters, has gone viral]( Photo: McDonald's/ Photo Illustration: Hannah Minn McDonald’s recently announced a new marketing campaign starring its purple mascot, Grimace, in true cat-ran-across-my-keyboard fashion: by [tweeting]( “fhioea;odijcfaewklcldW,” followed by a selfie captioned “it grimace i’m taking over.” And [take over]( he has: Twitter, TikTok, and Instagram have been ablaze with mentions of the chaotic fuzzy blob (with some popular posts embracing the Pride Month-born creature as a new gay icon) ever since McDonald’s began heavily promoting Grimace’s Birthday Meal on all three platforms. The meal features a new purple milkshake that some say tastes like Fruity Pebbles, bubblegum, or the milk of a [screaming Grimace](. McDonald’s even released a [video game]( starring a skateboarding Grimace that tugs at the Game Boy Color heartstrings. The pixelated adventure reacquaints players with classic McDonaldland characters who starred in brand advertising from the 1970s until 2003. Why the throwback? Nostalgia marketing plays to our emotions, and in this case, McDonald’s is targeting millennials and some Gen Zers who grew up during the mascot-heavy heyday of its ad campaigns. “We’re excited to put a modern spin on these memories to continue to drive McDonald’s relevance with a new generation,” the company explained in a press release. All-in on McStalgia: Since last fall, the Golden Arches also launched a limited-edition adult Happy Meal, briefly re-released its 1986 Halloween pails, and revived the Hamburglar to announce changes to its burgers.—ML   GRAB BAG [Key performance indicators](#) [Basketball legend Michael Jordan]Gregory Shamus/Getty Images Stat: After 13 years in the owners box, Michael Jordan will [sell his majority share]( in the NBA’s Charlotte Hornets at a reported $3 billion valuation, which means that none of the 30 teams in the league will have a Black majority owner. The group that acquired the stake from MJ is led by private equity exec Rick Schnall and hedge fund manager Gabe Plotkin, whose firm Melvin Capital, you might recall, [shut down]( after it was short-squeezed during meme stock mania. North Carolina music legends J. Cole and Eric Church are also getting in on the deal. Quote: “I am very happy to see you. We haven’t seen each other for more than three years…and you are an old friend of ours.” China’s President Xi Jinping was thrilled [to welcome]( Bill Gates back to his country for the first time since before the pandemic began. With tensions rising between the US and China, US CEOs have been flocking to China lately, traveling to the major market to smooth things over—but Gates’s visit marks the president’s first known meeting with an American business leader this year. The reception for US Secretary of State Antony Blinken, who’s finally taking his delayed trip to China this weekend, is not expected to be as warm. Read: The secrets of Dr. Bronner’s far-out success. ([GQ]( NEWS [What else is brewing](#) - [The shooter]( who killed 11 people in the 2018 Pittsburgh synagogue attack was found guilty of all 63 charges against him. Next, the jury will decide whether to apply the death penalty or a different punishment. - [Hundreds of people]( remained missing yesterday after the tragic sinking of a fishing boat carrying as many as 750 migrants off the coast of Greece. At least 78 people were confirmed dead. - [Daniel Ellsberg]( who helped end the Vietnam War by leaking the Pentagon Papers, died at age 92. - [SeaWorld]( opened a massive theme park in the UAE, its first location outside the US. But, after years of controversy over the parks’ treatment of animals, this one has no orcas. - [The world’s two richest people]( had the ultimate power lunch as Tesla CEO Elon Musk shared a midday meal with LVMH CEO Bernard Arnault in Paris yesterday. RECS [Saturday To-Do List graphic] Clever (adjective): Merriam-Webster’s Twitter feed is an informative delight. Today’s lesson: learn [what the $% a grawlix is](. New soundtrack: Music videos without the music and with sounds that actually correspond to the actions hit different. ([YouTube]( Amuse your inner child: Farting Teslas and other [juvenile jokes]( embedded in Big Tech. Backyard oasis: While the rest of us were futzing with sourdough starters, one UK dad spent lockdown [recreating the Love Island villa]( and now charges guests to use it. Find your wine: A personalized wine subscription delivered straight to your door at your chosen cadence? Yep, that’s what [Naked Wines]( does. Take their quiz and [get matched with your perfect varietals]( (+$50 off!).* *This is sponsored advertising content. GAMES Brew crossword: Brew a big pot of coffee, then knock out our 15x15 crossword puzzle. There may be no better way to start a long weekend. [Play it here](. Open House Welcome to Open House, the only newsletter section that knows dads don’t want beard trimmers or leather-scented candles tomorrow, they just want to spend time with ya. We’ll give you a few facts about a listing and you try to guess the price. [Lakefront home in Tyler, Texas]Zillow Today’s [home]( is in the Rose Capital of America: Tyler, Texas. It’s a 2,255-square-foot lakefront mansion with plenty of space for dad-tivities (that’s dad-centered activities). Amenities include: - Boat storage - Outdoor fire pit with view - Giant armchairs to fall asleep in at 3pm How much for the perfect Father’s Day gift? SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( AROUND THE BREW [Be the boss]( [ ]( Newly promoted? Get the tools to be a successful boss with our [New Manager Bootcamp](. Take the course on your own time and show up to work prepared af. Learn how your industry intersects with the latest technology—from generative AI in finance to supply chain automation. [Stay informed with Tech Brew](. 🛒 Retail Brew caught up with Chewy’s CMO to discuss how improving the online shopping experience has propelled their brand forward. [Watch on demand](. ANSWER $949,000 Written by [Neal Freyman]( Sam Klebanov, [Abigail Rubenstein]( and [Molly Liebergall]( Was this email forwarded to you? Sign up [here](. Take The Brew to work - Marketers: [Marketing Brew]( - Corporate: [CFO Brew](  [HR Brew]( - Tech: [IT Brew](  [Tech Brew]( - Retailers: [Retail Brew]( - Healthcare: [Healthcare Brew]( Get smarter in just 5 minutes - Money & Career: [Money Scoop](  [Money With Katie](  [Raise]( Business education without the BS - Programs in [Business Essentials]( [Analytics]( and [Leadership]( Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](. 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