Good morning. It's Tuesday, May 6, and we're covering the winners of journalism's highest honor, a sex trafficking case against a hip-hop titan, and much more. First time reading? Join over 4 million intellectually curious readers. Sign up here.
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The 2025 Pulitzer Prize winners were announced yesterday. The highest honor—the public service award—was granted to ProPublica for its "Life of the Mother" series on the impact of US abortion bans.
Other winners include The Washington Post (breaking news) for coverage of the July 13 assassination attempt on then-presidential candidate Donald Trump. Also awarded were Reuters (investigative reporting) and The Baltimore Banner and The New York Times (local reporting) for coverage of the US fentanyl crisis. The New York Times was separately awarded (international reporting) for its coverage of the war in Sudan, and The Wall Street Journal (national reporting) was awarded for its series on Elon Musk. See the full list of winners here.
The Pulitzer Prize for fiction was awarded to "James" by Percival Everett, a reimagining of Mark Twain’s "Adventures of Huckleberry Finn." The nonfiction prize went to "To the Success of Our Hopeless Cause" by Benjamin Nathans, an account of the Soviet dissident movement.
The Pulitzer—determined by a board of academics and media professionals—is one of the US' highest distinctions for journalism, literature, and music. Learn more about its history here.
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Jury selection kicked off yesterday in a Manhattan federal court in the criminal trial of hip-hop mogul Sean “Diddy” Combs, who faces five federal charges, including sex trafficking and racketeering conspiracy. The 55-year-old has been held without bail since his arrest in September and has pleaded not guilty.
Prosecutors allege Combs led a criminal enterprise starting in 2004, using his music and business empire to intimidate, exploit, and traffic women for sex. The indictment details claims of abuse, coercion, and efforts to conceal evidence, including organizing so-called “freak off” parties, with four accusers expected to testify. Combs’ defense argues the encounters were consensual and has turned down a plea deal.
Roughly 150 potential jurors will be questioned individually by the presiding judge and both legal teams, a process expected to last three days. Opening statements are scheduled for May 12, with the trial expected to last several weeks. If convicted on all counts, Combs could face life in prison. |
Swiss bank UBS Group AG yesterday agreed to pay $511M to settle a criminal investigation by the US Justice Department that found Credit Suisse (the bank UBS bought in 2023) helped wealthy Americans evade taxes on more than $4B in at least 475 offshore accounts. The settlement comes more than a decade after Credit Suisse pledged to halt such practices.
In the most recent case, Credit Suisse admitted to conspiring to help wealthy individuals prepare and file false US tax returns from 2010 to 2021 and was found to have repeatedly failed to fully disclose offshore accounts to authorities. The settlement comes two years after the US Senate Finance Committee found Credit Suisse had breached its 2014 plea agreement with the US government.
UBS said it was not involved in the misconduct, which occurred before UBS bought Credit Suisse for $3.2B under a Swiss government-brokered deal to avoid a potential banking crisis.
Learn more about how US income taxes work here. |
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In partnership with SmartAsset |
7 Mistakes When Choosing A Financial Advisor |
Working with a financial advisor can be a crucial part of any healthy retirement plan.
Research suggests that people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.* But choosing the wrong one could wreak havoc. Avoiding these 7 mistakes people make when hiring an advisor can help you work to potentially save years of stress. See the list.
With thousands of options available, finding an advisor can seem daunting. That's why SmartAsset developed a free quiz to help match you with vetted financial advisors serving your area, each legally bound to work in your best interest. It's never too late to plan to work toward a comfortable retirement. Get your financial advisor matches today. |
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Sports, Entertainment, & Culture |
> President Donald Trump announces proposal to implement 100% tariff on films produced outside the US (More) |
> The 2027 NFL Draft to be hosted in Washington, DC, on the National Mall (More) | ... and New York Islanders win NHL Draft Lottery, will get top pick in 2025 NHL draft (More) | Baltimore Ravens kicker Justin Tucker released from league amid NFL investigation into sexual misconduct allegations (More) |
> NBA postseason continues with the conference semifinals; see latest bracket (More) | ... and NHL Stanley Cup Playoffs second round began yesterday; see latest schedule (More) |
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In partnership with Motley Fool Money |
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> OpenAI cancels plans to spin out most of the organization into a for-profit company, will restructure as a for-profit public benefit corporation overseen by a nonprofit board (More) | See OpenAI overview (More) |
> Physicists capture first-ever image of individual atoms floating through open space, confirming atomic interactions previously theorized but never before confirmed (More) |
> James Webb Space Telescope makes most detailed measurement to date of the atmosphere of a "sub-Neptune" exoplanet, the most common type of planet outside of our solar system (More) | JWST explained (More) |
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> US stock markets close lower (S&P 500 -0.6%, Dow -0.2%, Nasdaq -0.7%); S&P 500 snaps nine-day winning streak (More) |
> Skechers to be acquired for more than $9B by private equity firm 3G Capital, taking the shoemaker private after 26 years; Skechers shares close up 24% on the news (More) |
> Ford suspends 2025 financial guidance due to expected $2.5B hit from US import tariffs, which it hopes to offset partially; comes after General Motors projected a $4B to $5B impact from tariffs (More) |
How annuities work: We're unpacking how the financial contracts, typically between an individual and their insurance company, work in this week's 1440 Business & Finance newsletter. |
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> Israel's security cabinet reportedly approves government plans to pursue a full reoccupation of the Gaza Strip, moving Palestinians southward (More) | Israel strikes Yemen's Hodeidah Port; attack comes after a missile claimed by Houthi rebels lands near Israel's main international airport (More) |
> Trump administration offers undocumented immigrants free airline tickets and $1K to leave the US (More) | Rwanda confirms it is in discussions with the US on accepting deported migrants (More) | ... and the US also reportedly in talks with Angola, Equatorial Guinea (More) |
> Romania's nationalist-populist candidate George Simion wins first round of elections on platform of cutting aid to Ukraine, fighting corruption; runoff against Bucharest Mayor Nicușor Dan is set for May 18 (More) |
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> Can Dogs Talk?
Fig. 1 | Staff. Dog owners and "influencers" are increasingly turning to buttons to try to get their dogs to communicate. A study by University of California, San Diego researchers tests whether animal communication is possible. (Watch)
> Wisdom, Reinterpreted
Clearer Thinking | Staff. What does it mean to be wise? A review of three different interpretations—pragmatic expertise, self-consistency, and virtue—offers insights into a path to living more wisely. (Read) |
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In partnership with SmartAsset |
How Long Will $1M Last in Retirement? |
The answer can depend on some important factors such as your retirement age, life expectancy, and the kind of lifestyle you plan to live. Find out a few additional factors to consider as well as 3 hypothetical examples of how long $1M could last in retirement.
Consulting a fiduciary advisor can be a great first step to helping make sure you’re on track to meet your financial goals, regardless of how much you have saved. Try SmartAsset's no-cost tool to get matched with up to 3 financial advisors serving your area, each legally bound to work in your best interest. Get your financial advisor matches today. |
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*Disclosure: "Journal of Retirement Study Winter" (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study. |
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