Good Morning! Today’s edition is 1,122 words, a 3-minute read.

What’s on tap: 

• Democratic mayors defend their sanctuary city policies

• Automaker tariff exemptions

• The world’s best restaurants

First-time reader? Sign up here!

Big Story

Novo Nordisk Cuts Weight Loss Drug Prices

Novo Nordisk has created a direct-to-consumer online pharmacy called NovoCare that will offer its weight loss drug Wegovy at $499 per month.

• This is less than half the regular $1,350 monthly list price. The service will ship prescriptions directly to patients' homes and provide support services like refill reminders and access to case managers. In the future, the discount will extend to cash-paying customers at regular retail pharmacies.

• The new offering targets millions of patients without Wegovy insurance coverage. It makes the FDA-approved medication more accessible while steering patients away from cheaper compounded versions that became popular during recent shortages.

• Novo Nordisk's move mirrors competitor Eli Lilly's strategy. In January 2024, Lilly launched LillyDirect, offering its weight loss drug Zepbound through telehealth providers with home delivery. Lilly also began selling Zepbound in single-dose vials at significant discounts.

• Both companies are competing for dominance in the GLP-1 drug market, which works by mimicking gut hormones to reduce appetite and regulate blood sugar. (Read more about how GLP-1 agonists work here)

Big Story

Panama Canal Ports Sale

Hong Kong-based corporation CK Hutchison Holdings has agreed to sell its controlling stake in ports near the Panama Canal to a group of investors led by BlackRock Inc.

• The $23 billion deal (including $5 billion in debt) effectively puts these strategic ports under American control. The transaction gives the BlackRock consortium control over 43 ports in 23 countries, including the Balboa and Cristobal ports at either end of the Panama Canal. However, the deal still needs approval from Panama's government.

• President Donald Trump had previously alleged Chinese interference with the Panama Canal's operations, claiming China was controlling the canal. In February, US Secretary of State Marco Rubio visited Panama and pressured President José Raúl Mulino to reduce Chinese influence over the canal. Following his visit, Panama quit China's Belt and Road Initiative.

• The Panama Canal is a key trade thoroughfare connecting the Pacific to the Atlantic Ocean, with around 70% of its sea traffic leaving or going to US ports. America built and operated the canal from 1913 until 1999 when Panama took full control under a treaty signed in 1977. (Read how the canal works here)

Big Story

Democratic Mayors Defend Sanctuary City Policies

Four Democratic mayors testified before the House Oversight Committee Wednesday to defend their sanctuary city policies.

• Boston's Michelle Wu, Chicago's Brandon Johnson, Denver's Mike Johnston, and New York's Eric Adams faced accusations from Chairman James Comer and Republicans that they harbor dangerous immigrants and violate federal law.

• The mayors maintained that their policies comply with federal law while creating safer communities. Adams argued he must allow all residents to access services "without fear of being turned over to federal authorities." Wu criticized the administration for making law-abiding residents "afraid to live their lives." The mayors rejected claims they welcome criminals, arguing the administration misrepresents crime statistics.

• Republicans cited incidents where undocumented immigrants allegedly harmed citizens, with Rep. Nancy Mace telling mayors, "you have blood on your hands." Democrats defended the mayors, with Rep. Gerry Connolly saying their policies "do not obstruct ICE" and "keep people safe."

Quick Stories

US News

• Authorities in Virginia and Pennsylvania are warning residents about fake toll road text messages that try to steal money and personal information by posing as collection notices from agencies like EZ Pass. People reported similar scams in Florida. (More)

• Los Angeles County sued Southern California Edison, claiming the company's electrical equipment caused the Eaton Fire that destroyed parts of Altadena in January. (More)

• The Supreme Court voted 5-4 to uphold a lower court's order requiring the Trump administration to release frozen foreign aid worth nearly $2 billion. Organizations awaiting payment have already started layoffs. (More)

World

• Iranian protest singer Mehdi Yarrahi received 74 lashes as part of a deal to end legal proceedings against him. He was convicted for releasing a song challenging women's dress codes on the anniversary of major protests. (More)

• Residents are preparing for Tropical Cyclone Alfred, the first cyclone in 51 years to hit near Brisbane, Australia. The storm currently has 60 mph winds and is expected to make landfall Thursday or Friday. (More)

• The US and Israel rejected a $53 billion Egyptian proposal to rebuild Gaza without displacing Palestinians. The plans included modern housing developments, tourist destinations, and resorts. (More)

Business & Economy

• US stock markets closed higher on Wednesday (S&P +1.12%, Nasdaq +1.46%, Dow +1.14%). The White House’s postponement of certain tariffs and potential exemptions on others rallied the market after two days of losses. (More)

• Private companies added only 77,000 jobs in February, below January's 186,000 and expectations of 148,000. Trade sectors lost 33,000 jobs, while leisure, business services, finance, and construction sectors gained workers. (More)

• The White House announced a one-month tariff exemption for automakers after President Trump spoke with auto industry leaders. The 25% tariffs on Mexico and Canada vehicles will now begin on April 2. (More)

Sports & Entertainment

• Las Vegas Raiders extended defensive end Maxx Crosby's contract for three years at $106.5 million with $91.5 million guaranteed, making him the highest-paid non-quarterback in NFL history. (More)

• NBC News announced Wednesday that Tom Llamas will replace Lester Holt as the "NBC Nightly News" anchor this summer. Llamas will also continue hosting his streaming show "Top Story." (More)

• FIFA announced that only African and North/Central American nations can bid for the 2031 Women's World Cup, making the US a strong favorite since US Soccer has already committed to bidding. (More)

Science, Health, & Tech

• YouTube introduced Premium Lite for $7.99 monthly, offering ad-free viewing of most videos except music content. Unlike the $13.99 Premium plan, this cheaper option doesn't include downloads or background play. (More)

• The James Webb Space Telescope discovered SIMP 0136, a mysterious object floating freely in space 20 light-years from Earth. It's 13 times Jupiter's mass, rotates every 2.4 hours, and has complex atmospheric features similar to Jupiter and Saturn. (More)

• Ancient bone tools made from hippo and elephant bones found in Tanzania are 1.5 million years old—one million years older than previous discoveries. (More)

Extra Credit

🍽️ An interactive map of the world’s best restaurants.

💎 Florida jewelry thief swallows $770K worth of earrings before arrest.

💰️ Pokémon-shaped Cheeto sells at auction for $87,840.

🧾 Ranking US states with the highest and lowest tax rates.