Hello, N2K’ers!

The theme of Cheddar’s world-famous News Haiku™ competition this week is that only 54% of Americans now drink alcohol — a record low reflected in N2K readership — the majority of whom are “rethinking” their drinking, according to last week’s poll. Send me a haiku on the subject by Thursday at noon ET right here. Winner gets glory — lots of glory, and a GIF!

Now, let’s talk about the news you Need2Know?

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Trump Meets Zelenskyy at White House

• MSNBC rebranding itself to MS Now, now

• Softbank to infuse $2 billion into ailing Intel

What’s the stock market up to, eh?

$SPX ( ▼ 0.59% ) $DJI ( ▲ 0.02% ) $NDX ( ▼ 1.46% )

Companies mentioned in today’s newsletter

Key Investment Group, $SHCO ( 0.0% ) , $CMCSK ( 0.0% ) , MSNBC, $INTC ( ▲ 6.97% ) , $SFTBY ( ▼ 7.28% )  

Trump Meets Zelenskyy at White House

President Donald Trump welcomed Ukrainian President Volodymyr Zelenskyy and European leaders to the White House this week to discuss the ongoing war in Ukraine and its potential resolution. The meeting, which followed Trump’s recent Alaska summit with Russian President Vladimir Putin, aimed to hammer out security guarantees for Ukraine and explore diplomatic solutions to the nearly four-year conflict.

British Prime Minister Keir Starmer described the White House discussions as making “real progress,” highlighting agreements among a 30-nation “Coalition of the Willing” to enhance Ukraine’s security. “That’s really important for security in Ukraine, for security in Europe, and for security in the United Kingdom,” he said.

A major development was Trump’s proposal for a bilateral meeting between Zelenskyy and Putin, with the possibility of a trilateral meeting involving Trump afterward. Let’s hope Putin doesn’t bring any “special teacups” laced with Polonium to the meeting, eh?

“Ukraine must be at the table,” Starmer emphasized when discussing critical issues like territorial disputes and the return of abducted children. However, European leaders, including French President Emmanuel Macron, stressed that a ceasefire must precede substantive talks. Macron stated, “We cannot hold discussions under bombs,” while acknowledging Trump’s optimism about his ability to broker an agreement with Putin.

Zelenskyy reaffirmed Ukraine’s readiness for dialogue. “I believe unconditionally we should meet and think about the further development of this path to the end of the war,” he said, while noting plans to purchase $90 billion in U.S. weapons as part of Ukraine’s security guarantees.

The summit also underscored lingering tensions. Trump’s dismissal of immediate ceasefires as unnecessary drew criticism, with Macron warning that Europe must prepare to increase sanctions should diplomacy falter. Despite the challenges, Finnish President Alexander Stubb reflected a shared determination among attendees, stating, “There was real unity today.”

Song of the day: Alison Goldfrapp, ‘Sound & Light’

From her new album “Flux,” the track is about “the excitement of an open vista and wanting to embrace a new feeling of emotional freedom,” she says. If you prefer closed vistas and emotional imprisonment, I’d say take a pass.

FTC sues ticket reseller over Swift tix limits

The Federal Trade Commission (FTC) has launched a lawsuit against Baltimore-based ticket reseller, Key Investment Group, accusing the company of bypassing ticket purchase limits for Taylor Swift’s Eras Tour and other live events, according to a complaint filed in Maryland federal court on Monday.

The FTC alleges that Key used thousands of fake or purchased Ticketmaster accounts to buy tickets in bulk, violating purchase limits. For a single Swift concert in Las Vegas in March 2023, the company reportedly used 49 accounts to grab 273 tickets — despite a six-ticket limit — and reaped over $119,000 in revenue from resales. During 2023, the firm allegedly made more than $1.2 million from reselling 2,280 Swift tickets.

FTC Chairman Andrew Ferguson emphasized the government’s stance on such practices. “The lawsuit puts ticket sellers on notice that the agency will go after those who circumvent ticketing platforms’ limits on ticket sales,” he said.

In response, Key Investment Group pushed back, stating that the FTC was misinterpreting the Better Online Ticket Sales (BOTS) Act. “In an unprecedented move, the FTC has twisted the intent of the BOTS Act…into a weapon against legitimate businesses and consumers,” a company spokesperson said.

The lawsuit is part of a broader federal crackdown on exploitative ticket reselling announced by President Trump earlier this year.

Today on the ‘gram: Dude wore a suit

Post of the day: For real

Quote of the Day

Soho House goes private after losing half a bil

The only time I’ve ever been to global members’ club chain Soho House $SHCO ( 0.0% ) , I bumped into the writer of “Four Weddings and a Funeral” in the elevator, which probably entirely explains why the firm has gone private again after losing more than half a billion dollars since going public in 2021.

Soho House has announced a $2.7 billion deal to take the company private after facing challenges as a publicly traded entity. The deal is spearheaded by New York-based MCR Hotels, which will buy shares at $9 each, an 83% premium from the December price before investor interest was disclosed. Actor-turned-investor Ashton Kutcher is also joining Soho House’s board as part of the new direction. 

Andrew Carnie, CEO of Soho House & Co, expressed optimism about the move. “This deal reflects the strong confidence our existing and incoming shareholders have in the future of Soho House & Co, despite a backdrop of challenging economic conditions and global uncertainty,” he said. Carnie added that returning to private ownership would allow the company to “build on momentum” and become more efficient while staying committed to its exclusive, membership-focused model.

Soho House operates 48 locations worldwide and maintains a celebrity clientele, but it has struggled to balance rapid global growth with financial stability, posting a cumulative $739 million loss during its public run. With high-profile backers and new leadership, I’m 100% certain it’ll turn things around now. Aren’t you?

Should you check your 401(k) today?

👎️ 

Nope.

MSNBC rebranding itself to MS Now, now

MSNBC, the progressive cable network owned by NBCUniversal, is rebranding as MS Now, with the new name standing for "My Source for News, Opinion, and the World."

That has to be wrong because you get all that right here at Cheddar’s N2K newsletter, no?

The change is part of a broader effort by NBCUniversal, owned by Comcast $CCW ( 0.0% ) , to distinguish the networks it plans to spin out into a separate company, Versant, from the core NBCU parent company.

One of the most significant visual changes will be the removal of NBCU's iconic peacock logo from networks joining Versant. In a memo to employees, Versant CEO Mark Lazarus explained, “The peacock is synonymous with NBCUniversal, and it is a symbol they have decided to keep within the NBCU family. This gives us the opportunity to chart our own path forward, create distinct brand identities, and establish an independent news organization following the spin.”

The rebrand also looks like it was designed in Microsoft Paint, the Windows 3.0 version.

Softbank to infuse $2 billion into ailing Intel

Intel $INTC ( ▲ 6.97% ) has received a $2 billion equity investment from Japan's SoftBank Group $SFTBY ( ▼ 7.28% ) marking a critical lifeline for the U.S. chipmaker as it navigates a challenging turnaround. Once a dominant player in the semiconductor industry, Intel has struggled in recent years, battling rivals like AMD and failing to gain traction in the lucrative artificial intelligence chip market.

The investment, announced Monday, will make SoftBank one of Intel's top 10 shareholders. Masayoshi Son, SoftBank's CEO, highlighted his belief in Intel's future, saying, “This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role.” 

Intel's CEO, Lip-Bu Tan, also expressed gratitude for SoftBank's confidence, calling the move pivotal for the company’s turnaround efforts. While promising, the investment alone may not fully address Intel's financial hurdles. Amir Anvarzadeh, a Japan equity strategist at Asymmetric Advisors, told Reuters, “SoftBank’s investment helps, but it is not what is going to move the dial for Intel.”

SoftBank’s move comes amid talks of the U.S. government potentially taking a 10% stake in Intel to stabilize its domestic chip production under the CHIPS Act.

Poll of the Day: Peace in our time

Poll of the Day: You don’t like friendlier AI

We asked: Do you like your AI "warmer and friendlier"?

You answered:

⬜️⬜️⬜️⬜️⬜️⬜️ Yes. I think it's important that the robots pretend to care. (62 votes)

🟩🟩🟩🟩🟩🟩 No. A robot is a robot is a robot. (485 votes)

🟨⬜️⬜️⬜️⬜️⬜️ Bleep blorp! (94 votes)

641 Votesvia @beehiiv polls