Good Morning! Today’s edition is 1,043 words, a 4-minute read.

What’s on tap: 

• Judge throws out late credit card fee cap

• Rock and Roll HOF inductees

• Mt. Fuji double rescue

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Big Story

Mark Carney Elected Canada’s PM

Mark Carney's Liberal Party has won Canada's federal election, marking a remarkable political reversal after trailing the Conservatives for nearly two years.

• As vote counting continued Monday, the Liberals were projected to win more seats than Pierre Poilievre's Conservatives in the 343-seat Parliament, though it remained unclear whether they would secure an outright majority.

• The prime minister-elect, who previously led two G7 central banks and has extensive private sector experience, has declared that Canada's traditional relationship with the US is "over." Roughly 75-85% of Canada’s exports go to the United States.

• He has said his immediate priorities include negotiating with Trump while simultaneously pursuing new trade partnerships, diversifying Canada's automotive supply chain, and strengthening the military, especially in the Arctic region.

Big Story

Disability Hearing

The Supreme Court is hearing arguments today in a case that could dramatically impact how public schools accommodate disabled students.

• At its core is whether parents must prove "bad faith" or just "deliberate indifference" when seeking damages under federal disability laws beyond the Individuals with Disabilities Education Act.

• Teenager Ava Tharpe, who has a rare form of epilepsy requiring scheduled accommodations, only received 65% of normal instruction hours when her Minnesota school refused the late-day schedule her previous Kentucky school had provided. Her parents sued the Osseo Area School District under multiple federal disability laws.

• The case highlights a major split among federal courts - five appeals courts require parents to prove "bad faith or gross misjudgment" to receive compensatory damages, while two courts only require showing "deliberate indifference" by school officials.

• The outcome could affect disabled students nationwide. Disability rights groups support Tharpe's case, while school districts warn they could face "potentially crushing liability" if the Court adopts the less strict standard.

Big Story

Judge Scraps Credit Card Late Fee Cap

A Texas judge threw out a federal rule that would have capped credit card late fees at $8.

• Instead, the current average fee of $30.50 (with maximums of $41) will remain in place. The Consumer Financial Protection Bureau had finalized the rule last year as part of the Biden administration's efforts to eliminate what it called "junk fees."

• The decision came after major industry groups and the Trump-era CFPB reached an agreement to eliminate the rule. Banks argued the $8 cap wouldn't sufficiently deter late payments, while the CFPB's analysis showed the $8 late fee would adequately cover issuers' collection costs.

• About 1 in 5 American adults (roughly 52 million people) paid a credit card late fee in 2023, with the financial burden falling disproportionately on lower-income households, communities of color, and those living paycheck to paycheck. The CFPB estimates banks collect approximately $14 billion annually from these fees.

Quick Stories

US News

• The House passed the Take It Down Act with overwhelming 409-2 vote, criminalizing deepfake porn and requiring platforms to remove it. The bill now heads to the president after already passing the Senate. (More)

• The EPA announced a waiver allowing E15 gasoline sales until September 15 instead of stopping May 1. It's cheaper than regular gas but might harm the air and water. (More)

• One person died and 12 were injured when a boat crashed into the Clearwater Ferry in Florida on Sunday. With 45 people aboard, most injured passengers have been released from hospitals. The boat fled but was later found. (More)

World

• A Navy fighter jet worth $70 million accidentally rolled off the USS Harry S. Truman and sank in the Red Sea while being towed. Both crew members jumped clear in time, with only one minor injury. (More)

• Putin announced a 3-day ceasefire in Ukraine for May 8-10 to mark Russia's WWII victory over Nazi Germany. Kyiv called it a window dressing and wants a longer, immediate truce. (More)

• A widespread power outage hit Spain and Portugal on Monday, causing major transport disruptions, traffic jams, and flight delays. Officials say that a cyber attack hasn't been ruled out. (More)

Business & Economy

• US stock markets closed mixed on Monday (S&P +0.06%, Nasdaq -0.10%, Dow +0.28%). Wall Street was relatively flat as investors wait for key economic data and progress on trade negotiations. (More)

• IBM is dropping a massive $150 billion investment in the US over five years, with $30 billion specifically for American manufacturing of mainframe and quantum computers. (More)

• Spotify shelled out over $100 million to podcast creators in early 2025. Big names like Joe Rogan (who signed a $250M deal), Alex Cooper (now with SiriusXM), and Theo Von topped their global charts last year. (More)

Sports & Entertainment

• The Commanders are returning to Washington, DC, with plans for a $4 billion stadium at the former RFK site. The team is contributing $2.7 billion while DC invests $1.1 billion for the venue opening in 2030. (More)

• Atlanta Falcons DC Jeff Ulbrich's 21-year-old son Jax, admitted to prank calling Shedeur Sanders during the NFL draft, pretending to be Saints GM Mickey Loomis. (More)

• This year's Rock Hall of Fame class includes Cyndi Lauper, Bad Company, Chubby Checker, Joe Cocker, Outkast, Soundgarden, and The White Stripes. (More)

Science, Health, & Tech

• VML, Lab-Grown Leather, and The Organoid Company are teaming up to create T-Rex leather using reconstructed dinosaur DNA. They’ll use the leather to create luxury accessories like handbags. (More)

• A new study shows sleep does double duty: cementing memories while also prepping your brain for new learning. Better sleep quality between learning sessions impacts both what you remember and how easily you understand material tomorrow. (More)

• Scientists found a clever bacterial defense called "Kongming" that turns viruses' own infection tools against them. Named after a Chinese strategist, this discovery could lead to new biotech tools and alternatives to antibiotics. (More)

Extra Credit

🚗 Man unintentionally buys back his stolen car. 

💩 Poop drones are manning sewers so humans don’t have to.

🗻 Mount Fuji climber rescued twice after going back for lost phone.

😃 Watch: Speedboat wins race while flipping at 200 mph.