Good morning. It's Saturday, April 19, and in this weekend edition, we're covering a multibillion-dollar credit card merger, a US escalation in the Middle East, and much more. First time reading? Join over 4 million intellectually curious readers. Sign up here.
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US banking regulators have approved Capital One’s $35B acquisition of Discover Financial, clearing the last major hurdles for a deal that will create America's largest credit-card issuer by total loan volume (roughly $250B). The combined entity will also account for approximately 22% of the US credit card market. The deal is expected to close next month.
The Federal Reserve and the Office of the Comptroller of the Currency concluded the merger would not significantly harm competition. Their reasoning included that the combined entity wouldn't jeopardize the convenience and needs of the communities either of the banks serve. However, the approval comes with certain conditions: Capital One must address ongoing enforcement issues at Discover. In addition to approving the deal, the Fed fined Discover $100M for overcharging merchants certain fees between 2007 and 2023. Similarly, the Federal Deposit Insurance Corp. asked Discover to pay $1.2B in restitution and a $150M civil penalty.
The merger also gives Capital One access to Discover's credit card payment network. Currently, Visa and Mastercard are America's largest credit card payment networks, with American Express in third place ahead of Discover (see data). |
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Deadly US airstrike on Yemeni oil port kills more than 70 people.
A US airstrike targeted the Houthi-controlled oil terminal in Yemen in an escalation aimed at cutting off a key source of fuel and revenue for the Iran-backed Houthis, who have been attacking ships in the Red Sea. The incident is one of the deadliest since the Trump administration began a bombing campaign in March and coincides with upcoming US-Iran nuclear talks.
Victims identified in Florida State University shooting.
The two men killed in Thursday's shooting at FSU's Tallahassee campus were identified as campus dining coordinator Robert Morales and Tiru Chabba, an executive for campus vendor Aramark. New details also emerged about the shooter, who was initially described by police as the son of a veteran Leon County sheriff's deputy; however, court documents say he is the sheriff's deputy's stepson. Records also show the 20-year-old shooter changed his name after his parents' custody battle.
National Archives releases 10,000 documents on RFK assassination.
The trove of records relates to the 1968 assassination of Robert F. Kennedy, fulfilling an order made by President Donald Trump to declassify national records on the assassinations of President John F. Kennedy, Sen. Robert F. Kennedy, and Dr. Martin Luther King Jr. The release includes roughly 229 files, some of which had not been digitized and were in storage for decades. Browse the digital files here.
Federal judge pauses US plans for mass layoffs at consumer bureau.
The federal judge temporarily blocked the Trump administration from laying off about 90% of the Consumer Financial Protection Bureau’s staff in order to consider whether such layoffs could violate a previous court order intended to preserve the agency’s operations and determine compliance with the law. The layoffs could affect up to 1,500 employees.
Genomic analysis finds all roses were once yellow.
Roses of all colors, such as white, red, pink, and peach, belong to the genus Rosa in the Rosaceae family. Reconstructing the ancestral traits through genomic analysis of 205 samples of over 80 different Rosa species revealed that all roses trace back to a common ancestor—a yellow, single-petal flower with seven leaflets.
Rare "Star Wars"-like planet orbits twin stars outside solar system.
Astronomers using the European Southern Observatory's Very Large Telescope have discovered an exoplanet, named 2M1510 (AB) b, orbiting at a 90-degree angle around a rare pair of brown dwarfs, also known as failed stars. The finding is the first confirmed case of a "polar planet" and reveals how a planet’s gravity can influence the orbits of two stars in what researchers describe as a celestial dance. |
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Australian woman holds weekly workout sessions on FaceTime with her 80-year-old grandfather. (More, w/video)
Michigan town forms 300-person human chain to help a local bookstore move 9,100 books to its new shop. (More)
Two newlyweds affirm their vows in an underwater ceremony. (More, w/video)
Ten-year-old girl to soon become youngest graduate of a college in California, with two associate degrees. (More)
... and a 19-month-old boy goes viral for his natural drumming skills. (More, w/video)
A man battling terminal cancer spends his final months performing community service in all of America's 50 states. (More) |
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In partnership with NativePath |
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Today, we're sharing a story from readers Sandi and Dave R. in Oregon.
"Today, just after we checked out at the grocery store, as I was putting away my receipt before heading to our car, a young man walked up to me and handed me a bouquet of flowers with instructions to give them to my wife. 'She deserves them,' he said. What a kind thing to do! We did not recognize him as anyone we know. Just someone being thoughtful. Then, on the way out, as she was carrying the bouquet, two other men said to her, 'I hope you didn't buy those for yourself.' She responded, 'No, a nice young man gave them to me, and I don't even know who he was.' They
responded, 'That's wonderful, have a great day.'"
What act(s) of kindness did you experience this week? Tell us here. |
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"If I had my life to live over again, I would have made a rule to read some poetry and listen to some music at least once every week." |
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