Good morning. It's Thursday, Dec. 17, and we're covering an emerging stimulus deal, the Negro Leagues, and a major Northeast snowstorm. Have feedback? Let us know at [email protected].

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NEED TO KNOW

Direct Payments

Congress is on the verge of passing another economic stimulus package that includes direct payments to Americans, according to reports yesterday. The bill builds on a $748B bipartisan proposal released Monday, and leaves out two contentious issues: aid for state and local governments (sought by Democrats) and liability protection for businesses against COVID-19-related lawsuits (sought by Republicans). A number of lawmakers on both sides had said they would oppose a deal without direct payments, effectively dooming any alternative proposal. 

The checks are expected to be lower than previous stimulus payments that provided $1,200 per person—likely around $600 per person, phasing out at higher incomes—and $500 per child. The stimulus proposal also reportedly includes boosted unemployment benefits, support for schools and vaccine distribution, and more. The total cost is expected to be under $1T. 

House and Senate leadership are rushing to finalize the deal, with the goal of attaching it to an omnibus spending bill that must be passed by Friday at midnight to avoid a government shutdown. 

Negro Leagues Elevated

Major League Baseball formally elevated the Negro Leagues to major league status, marking the culmination of the 100th anniversary of the launch of the all-Black leagues. While the last of the leagues disbanded in 1962, the move corrects a long-standing omission made when a 1969 committee decided to not include player statistics and records during a historical merging of professional baseball data stretching back to 1876. 

Under the designation, the MLB will incorporate statistics from nearly 3,400 players across seven leagues operating between 1920 and 1948. Thirty-five players from the leagues are in the Baseball Hall of Fame (see list), despite never or only partly playing in the MLB. Legendary pitcher Satchel Paige may have more than 100 additional wins attributed to his record. 

Perhaps most notably, Josh Gibson—known as the Black Babe Ruth—will enter the record books with one of the top five career batting averages in history, having hit around .355 over 17 seasons (estimates of the statistic vary).

Northeast Snowstorm

One of the biggest winter storms in recent years hit the eastern US yesterday, as Winter Storm Gail dropped snow along a path stretching from the Midwest to Maine, with powder falling at more than 2 inches per hour in some spots in the Northeast. With snow continuing through today, New York City is expected to top a foot of snow (more than all of last year's total), while Boston and some areas of Connecticut are forecasting up to 18 inches. Binghamton, New York, had reported close to 3 feet of snow as of this morning. The heavy, wet snow wreaked havoc on roads; at least two people died after a pileup along Interstate 80 in Pennsylvania involving up to 60 cars. Conditions forced the cancellation of more than 1,200 flights, with isolated power outages in New Jersey and New York. The storm is expected to move out of the US by the evening, likely passing over Nova Scotia and Newfoundland overnight.

See photos from around the region.

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EARLY INVESTORS

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Returns as of 12/10/2020

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IN THE KNOW

Sports, Entertainment, & Culture

> US Supreme Court to review court decision on university student-athlete compensation; first NCAA case heard by Supreme Court since 1984 (More)

> Meghan Markle and Prince Harry sign multiyear exclusive podcast deal with Spotify; the Duke and Duchess of Sussex will both produce and host podcasts (More)

> HBO Max and Roku reach deal after monthslong standoff to make HBO Max available on all Roku streaming devices beginning today (More)

Science & Technology

Brought to you by Woven

> FDA panel to consider Moderna's COVID-19 vaccine for emergency use authorization today; approval and distribution expected by the weekend (More) | First at-home COVID-19 test approved (More) | More than 16.9 million total cases reported in the US, with 307,501 total deaths; record 3,656 deaths reported yesterday (cases, deaths)

> A 3,300-year-old baboon skull is believed to be one of the first known artifacts from the lost African Land of Punt; mummified head was found in the British Archives (More) | More on the mysterious ancient society (More)

> NASA's InSight probe finds the crust of Mars is likely composed of three layers; marks the first direct measurement of the internal structure of a planet other than Earth (More) | China successfully retrieves samples taken from the lunar surface by its Chang’e 5 probe (More)

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Business & Markets

> Ten US states led by Texas sue Google accusing the company of an advertising monopoly and partnering with Facebook to rig ad auctions; Google denies allegations (More)

> Federal Reserve keeps interest rates unchanged at 0%-0.25%, to continue bond purchases until economy improves (More) | US retail sales fell 1.1% in November, more than expected and largest drop in seven months (More)

> Bitcoin passes $20K for first time; the digital currency has gained more than 180% on the year (More)

Politics & World Affairs

> French President Emmanuel Macron tests positive for COVID-19; Macron is experiencing mild symptoms and is self-isolating (More)

> US poverty rate jumps 2.4 points between June and November, with almost 8 million Americans falling below the poverty line (More) | See what defines the poverty line (More)

> More than half a million residents in northern Mozambique forced to flee their homes after Islamic State-linked militants seize territory (More)

IN-DEPTH

China's Tainted Cotton

BBC | John Sudworth. A damning new investigative report reveals China is forcing half a million Muslim minority Uighurs into cotton fields in its Western Xinjiang province—de facto slave labor indicting both China and the world's fashion industry. (Read)

How Compass Became the Bane of Real Estate

Marker/Medium | Patrick Sisson. Compass, the flashy urban real-estate upstart, believes its obsession with technology—including AI and machine learning—will disrupt one of the country's oldest markets. Others say the approach is nothing but smoke and mirrors. (Read, $$)

BIG PAST WINS

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Returns as of 12/10/2020

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ETCETERA

What Dippin' Dots can teach us about vaccine logistics.

The top scientific discoveries of 2020.

The Vatican's Nativity scene is drawing scathing reviews.

Ten of the most exotic prehistoric creatures to roam the Earth. 

The America's fastest dog is a rescue pup.

Reviewing 2020 in 20 visualizations.

Need an escape? Tune into random forests from around the world.

Minnesota woman beats COVID-19—at 107 years old.

Clickbait: This 5,000-year-old Egyptian relic was found in a Scottish cigar box.

Historybook: Wright Brothers make first successful airplane flight (1903); HBD Pope Francis (1936); "The Simpsons" makes television debut (1989); RIP American actress Jennifer Jones (2009); North Korean dictator Kim Jong-il dies (2011).

"Where there is no work, there is no dignity."

- Pope Francis

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