Good morning. It's Monday, May 4, and we're covering the abrupt shutdown of a major air carrier and the arrival of European motorsports in the Sunshine State.
Also in today's Digest: A thrilling finish at the Kentucky Derby (Sports, Ent., & Cult.), a chance to see the debris of Halley's Comet (Sci. & Tech.), how oil prices affect your shopping cart (Etc.), and much more.
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Spirit Airlines shut down over the weekend after failing to secure a $500M rescue package, officially ceasing operations around 3 am ET Saturday morning. Weekend travelers were told not to go to the airport, and the decision leaves around 17,000 employees out of work.
Launched as a commercial passenger service in 1992, Spirit grew into the seventh-largest airline in the US, shuttling 44 million travelers annually. Known for pioneering ultra-low-fare pricing with numerous added fees in the US, including becoming the first carrier in the country to charge for carry-on bags (in 2010). Spirit experienced a series of failed and blocked mergers and bankruptcy filings following the COVID-19 pandemic. Officials cited soaring jet fuel costs—which account for close to 30% of airline costs and have roughly doubled since the war in Iran (see chart)—as a final insurmountable challenge.
Watch a Spirit ad from the late '90s pitching its low fares (and its memorably catchy jingle). |
Italian driver Kimi Antonelli won the F1 Miami Grand Prix yesterday, edging out reigning world champion Lando Norris by just over three seconds. It was the third straight win for the 19-year-old Antonelli, son of former driver Marco Antonelli, and the fourth straight win for Mercedes. Watch highlights (including a flipover during lap six) here.
The international (but Eurocentric) sport has exploded in popularity in the US, fueled in part by the soap opera-esque Netflix show "Drive to Survive." Formula 1 now hosts annual races in three cities across the country, with premium tickets routinely exceeding $1,000 (and $150 hot dogs). The next US race will be held in Austin, Texas, in October, followed by November's Las Vegas Grand Prix.
The intense speeds and changes in acceleration require F1 drivers to be in peak physical condition, including a focus on building their neck muscles (w/video). |
🫶 Humankind: The nation's oldest TSA agent gets a surprise party at the airport on his 90th birthday (w/video). |
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Part two of a landmark lawsuit over Meta’s failure to shield children from online dangers begins today in New Mexico, in a case that may potentially force the company to institute reforms for minors on its platforms.
Originally filed in December 2023, a jury levied a $375M penalty against Meta last month, finding the company knowingly violated the state’s consumer protection laws and exposed children to sexual exploitation and other harms. In the second “remedies” phase, a judge will decide to what extent Meta must comply with reforms sought by New Mexico officials. These include instituting strict age verification, banning infinite scroll, and limiting minors to 90 hours per month. The company has suggested it could shut down access to Facebook, Instagram, and WhatsApp in New Mexico, pending the outcome.
Explore testimony and documents on the risks to minors from this (and related) trials here. |
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Sports, Entertainment, & Culture |
> Longshot Golden Tempo wins Kentucky Derby in near-photo finish over cofavorite Renegade; Cherie DeVaux becomes first woman trainer to win the Derby (More) | Watch finish (More) |
> 2026 Met Gala to be held tonight, with sponsors Jeff and Lauren Sánchez Bezos acting as honorary chairs; this year's theme is "costume art" (More) | The most controversial outfits in Met Gala history (More) |
> Detroit Pistons, Cleveland Cavs advance to NBA playoff quarterfinals after winning in their respective Game 7 showdowns; see full bracket and matchups (More) |
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> Federal analysis finds DeepSeek V4 Pro is China's leading AI model and trails behind the top US frontier models by about eight months (More) | Are large language models really just guessing at the next word? Listen to our interview with a top computer scientist (More) |
> Eta Aquarid meteor shower, originating from the debris of Halley's Comet, to peak overnight tomorrow; see diagram and how to spot them (More) |
> Yellowstone's subsurface volcano likely fueled by plate tectonics heating up underground magma, study finds; could help predict the next supereruption, which last occurred around 630,000 years ago (More) |
👴 Who is Sir David Attenborough? Tomorrow's 1440 Science & Technology newsletter takes a deep dive into the life of the renowned "Planet Earth" narrator, who turns 100 Friday. Join 145,000+ other readers and sign up here! |
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> US stock markets close Friday mixed (S&P 500 +0.3%, Dow -0.3%, Nasdaq +0.9%), with Nasdaq and S&P 500 ending at all-time highs (More) | Oil prices fall slightly to $102 per barrel, national gas average at $4.43 per gallon; see map (More) |
> Elon Musk lawsuit claiming OpenAI breached charitable trust by abandoning its original nonprofit status enters week two, with Sam Altman and Greg Brockman to testify; see recap so far (More) |
> New Berkshire Hathaway CEO Greg Abel leads first annual meeting since taking over for famed investor Warren Buffett (More) | A quick overview of Buffett's strategy of value investing (More, w/video) |
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In partnership with FinanceBuzz |
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22 Things to Cut When Living on Retirement |
Whether you’re already enjoying retirement or just eyeing the exit ramp, the math of a fixed income can feel like a daunting puzzle. The rising cost of living often turns "relaxing" into "calculating," but your golden years shouldn’t be defined by what you can’t do.
You don’t need a radical lifestyle overhaul to find breathing room. Often, it isn't the big-ticket items that drain a nest egg; it’s the steady drip of outdated services and inefficient accounts.
Read FinanceBuzz’s full guide on 22 Things To Cut When Living On Retirement (Many People Ignore #11) to find out how to plug those hidden leaks and keep hundreds more in your pocket each month. |
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> Rudy Giuliani hospitalized in critical but stable condition, according to reports; reason not publicly disclosed as of late last night (More) |
> Federal court temporarily blocks mail-order prescriptions of common abortion drug mifepristone amid legal challenges; decision appealed to Supreme Court (More) | Drug is typically administered in the first 10 weeks of pregnancy; learn how it works (More, w/video) |
> Strait of Hormuz blockade has reportedly cost Iran $4.8B in blocked oil shipments, Pentagon officials say; the amount would be around 2% of Iran's 2025 GDP (More) |
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Historybook: Abraham Lincoln buried in Springfield, Illinois (1865); US officially takes over Panama Canal construction (1904); Actress Audrey Hepburn born (1929) First Grammy Awards ceremony held (1959); Yugoslavian dictator Josip Tito dies (1980).
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