Good morning. It's Wednesday, Nov. 5, and we're covering results in closely watched elections, a fatal plane crash in Kentucky, and much more. First time reading? Join over 4.5 million insatiably curious readers. Sign up here.
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Breaking news: At least seven people are dead and 11 are injured after a UPS cargo plane crashed and exploded while taking off from Muhammad Ali International Airport in Louisville, Kentucky. The number of fatalities is expected to increase. See updates here. |
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Voters in several states cast ballots yesterday in closely watched off-year elections, including races for New York City mayor and governors in Virginia and New Jersey.
In New York City, democratic socialist Zohran Mamdani (50.4%) defeated former New York Gov. Andrew Cuomo (41.6%)—a centrist Democrat who ran as an independent—and Republican Curtis Sliwa (7.1%). The 34-year-old Mamdani becomes the first Muslim mayor and Asian American mayor of the nation's largest city. More than 2 million people voted in the election, surpassing total votes cast in any previous NYC mayoral race since 1969.
In Virginia's gubernatorial race, Democrat and former US Rep. Abigail Spanberger beat Republican Virginia Lt. Gov. Winsome Earle-Sears, becoming the first woman elected to the role. Spanberger held a 57.5%-42.3% lead with 97% of votes in as of this writing. Democrats also won the lieutenant governor's seat and the state's attorney general race.
Meanwhile, in New Jersey, Democratic Rep. Mikie Sherrill (NJ-11) beat Republican Jack Ciattarelli in a closely watched race that tightened in the final weeks in the polls but ended as a double-digit victory. The tally early this morning stood at 56.2%-43.2%.
In California, voters approved an amendment (64%-36%) establishing a temporary new congressional map that could shift as many as five seats to Democrats in the US House in next year's midterms.
See results from around the country here. |
The Supreme Court will hear arguments today on President Donald Trump's sweeping tariffs. The ruling, expected before July, could clarify the boundaries of presidential power.
Trump was the first president to invoke the International Emergency Economic Powers Act to levy tariffs, after declaring the inflow of fentanyl and persistent trade deficits as national emergencies. The 1977 law, which authorizes presidents to regulate imports during emergencies, has historically been interpreted to allow presidents to impose sanctions. Former President George W. Bush, for example, used the act to freeze assets following 9/11. The law does not mention tariffs (explore 101), duties, taxes, or similar terms, leading lower courts to rule that Trump exceeded his authority. The administration argues tariffs are a way to regulate imports, although they traditionally require congressional authorization.
Today's challenge before the Supreme Court was brought by 12 states and several small businesses, including a toymaker that lowered 2025 revenue projections from $1M to $400K due to tariffs. |
Singapore-based e-commerce platform Shein opens its first brick-and-mortar store today in Paris. The debut comes amid fresh regulatory scrutiny and local backlash over its business practices.
Shein is opening in BHV Marais, a nearly 170-year-old building in Paris. The store houses products from legacy fashion brands, including Chanel, Dior, and Givenchy. Several brands, however, have pulled their merchandise in recent weeks, in protest of Shein’s fast-fashion business model. Over the weekend, fresh anger erupted as investigators revealed the company had been selling childlike sex dolls online. Shein says it pulled the product—sold by a third-party retailer—from its site. The French government has referred the matter to prosecutors and threatened to bar Shein from selling products in the country.
Shein earned $38B in global revenue last year, though the company’s model has struggled in the face of US tariffs (see impact, w/graphs). The company plans to open five additional physical stores throughout France. |
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Sports, Entertainment, & Culture |
> Ohio State tops first edition of 2025 College Football Playoff rankings (More) | How playoff seeding has changed this year (More, w/video) |
> Newspaper publisher Gannett Co. changes name to USA TODAY Co., a nod to its flagship publication (More) | Condé Nast to fold Teen Vogue into Vogue.com, following Vogue Business' move to the platform last week (More) |
> Soccer star David Beckham knighted by King Charles III for contributions to sports and charity (More) | English actor Jonathan Bailey becomes People magazine's first openly gay Sexiest Man Alive (More) |
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> Stability AI largely wins landmark UK intellectual property lawsuit brought by Getty Images (More) | Amazon threatens legal action against Perplexity AI to block Comet browser from making online purchases on behalf of users (More) |
> Scientists observe most distant and powerful flare yet from supermassive black hole—10 billion light-years away and 30 times brighter than previously observed flares (More) | Black holes 101 (1440 Topics) |
> Researchers determine Antarctic glacier retreated faster than any other in modern history; nearly 50% of the glacier disintegrated in two months, a pace comparable to retreats at the end of the last ice age (More) |
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> US stock markets close down (S&P 500 -1.2%, Dow -0.5%, Nasdaq -2.0%) (More) | Pinterest shares fall 20% in after-hours trading after missing earnings-per-share estimates, providing weak guidance (More) |
> Norway's wealth fund to reject Elon Musk's $1T Tesla pay package at annual shareholder meeting scheduled tomorrow (More) |
> Papa John's shares close down nearly 10% on reports of Apollo Global withdrawing offer to take the pizza chain private (More) | Pfizer and Novo Nordisk escalate bidding battle for weight-loss drug startup Metsera (More) |
🏡 What we've learned about real estate: Find out where the world's most expensive properties are, the problem with converting offices into apartments, and more. Sign up here to get tomorrow's 1440 Business & Finance newsletter. |
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> Former Vice President Dick Cheney dies at age 84 from complications of pneumonia and cardiac and vascular disease; he was known for his role in advocating for the US war with Iraq and was also defense secretary and a congressman for a decade (More) |
> FBI arrests two men in connection with Saturday's explosion at Harvard Medical School; the men, aged 18 and 20, do not attend the university (More) |
> Federal government shutdown becomes the longest on record, entering Day 36; see live updates (More) |
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Clickbait: Tom Brady's new dog is a clone of his late pet.
Historybook: "Gone with the Wind" actress Vivien Leigh born (1913); Writer Sinclair Lewis is first American to win Nobel Prize for literature (1930); Franklin D. Roosevelt is first and only US president elected to third term (1940); Saddam Hussein is sentenced to death (2006); Google unveils Android (2007). |
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