Good morning readers. Ever hear of the worm moon? What about the penumbral lunar eclipse? Up until last night, neither did we. This full moon, nicknamed for its connection to spring and nature's reawakening, will shine brightest at 3 a.m. ET, with the eclipse peaking at 3:12 a.m. ET. Although the moon won't undergo a dramatic makeover, you might catch a slight dimming effect. And mark your calendars, because this event signals the start of a 35-day eclipse season with more cosmic marvels happening later this year, including a total solar eclipse in April and an annular one in October.

Let’s jump into today’s storylines.

In today’s digest:

• Millions of Americans could have no access to the internet soon

• Headline Hustle: Government passes $1.2 trillion funding package to avoid shutdown, Kate Middleton has been diagnosed with cancer, Stellantis cuts 400 employees from its workforce

• A company making canned water is changing the beverage industry

• The Week Ahead: What to Expect

• Pulse Points: What’s Trending

POLICY

The future of internet affordability is in the balance

Forget about the latest tech gadget or streaming service subscription; the real hot commodity for millions of Americans is something far more essential – a stable internet connection.

By May of this year, roughly 1 in 5 households nationwide (or 60 million Americans) face the possibility of losing internet access entirely or be forced to pay sky high fees to stay online.

Basic necessities or internet?

Millions of Americans, including seniors, military families, and rural residents, face the imminent threat of losing affordable internet access due to the impending expiration of the Affordable Connectivity Program (ACP). This program, initiated in 2021 with bipartisan support, offers subsidies of up to $30 per month to low-income households for internet services. Despite its popularity and the critical role it plays in bridging the digital divide, Congress has failed to allocate the necessary funding to extend the program beyond April. Experts warn that without the ACP, vulnerable populations will struggle to access essential services like education, healthcare, and employment opportunities.

At the heart of the debate is a $6 billion funding shortfall. Despite clear warnings and a well-defined deadline, a solution remains unclear, with the program's expiration date fast approaching. The impact of this inaction is widespread:

• The collapse of the ACP would worsen economic instability and widen existing inequalities, impacting individuals on a fixed income who rely on the internet for daily tasks.

• The program's termination would also heavily impact marginalized communities, including rural areas and older Americans, impeding their ability to participate fully in the digital economy.

While the ACP has proven effective in increasing internet adoption, particularly in underserved regions, the lack of congressional action threatens to undo progress made in closing the gap. Without affordable internet access, some individuals have resorted to temporary solutions such as public Wi-Fi or mobile hotspots, inadequate substitutes for reliable home internet.

Zoom out: Earlier this year, lawmakers had authorized $7 billion in funding to save the ACP. The irony? Despite evidence that funding the program would save taxpayers money in the long run (researchers estimated that every $1 of ACP spending increases US GDP by $3.89), the bill still hasn’t moved.

IN THE KNOW

Headline Hustle

🇺🇸 The government passes $1.2 trillion spending package, avoids shutdown. President Biden sealed the deal on Congress' $1.2 trillion spending package, putting an end to months of fiscal uncertainty. The bipartisan bill, signed just before midnight on Friday, keeps the government running until October. Biden hailed the agreement as a compromise, acknowledging that neither side got everything they wanted. Yet, with the government funded, House Speaker Mike Johnson can breathe a sigh of relief, though he might face his own challenges with dissenting factions.

🇬🇧 Kate Middleton has been diagnosed with cancer. Princess Catherine's revelation of her cancer diagnosis echoes a somber note alongside King Charles III's own battle with the disease. In a heartfelt video statement, Catherine disclosed her ongoing preventive chemotherapy, following an initial surgery earlier this year. The news reverberated across the UK, sparking an outpouring of support reminiscent of Princess Diana's era. As prayers for Catherine's recovery flood in, the resilience of the royals faces another test.

🚗 Stellantis announces they’re cutting their workforce by 400 salaried employees. Stellantis, the automotive giant, is streamlining its operations with a workforce reduction of approximately 400 salaried employees in the U.S. This move, attributed to challenging market conditions, underscores the company's efforts to enhance efficiency and navigate global uncertainties. CEO Carlos Tavares' strategic cost-cutting measures aim to bolster profitability and advance Stellantis' ambitious Dare Forward 2030 plan, which includes a robust electric vehicle initiative.

BUSINESS

A company making canned water is taking over the soft drink industry

For a company that specializes in selling water in a can, Liquid Death has certainly made a splash.

The canned water startup is changing the beverage industry, canning water with a rebellious flair and quenching the thirst of venture capitalists to the tune of $67 million in fresh funding.

An industry bubbling with innovation

This fizzy startup's success is not just a win for hydration but a testament to the changing tides of consumer preferences and investment strategies in the beverage sector. Venture capitalists, traditionally wary of the capital-intensive and highly competitive beverage industry, are now pouring funds into companies that promise to disrupt the status quo. These innovators are not only crafting new drink categories but are also appealing to a health-conscious audience seeking alternatives to alcoholic beverages.

The secret sauce? A mix of clever marketing, strategic shelf placement, and an understanding of consumer desires for healthier, socially responsible options. From alcohol-inspired branding to beverages infused with vitamins, minerals, and even mushrooms, these startups are quenching a thirst for innovation.

But it's not just about what's in the can. Success in this bubbly arena requires a delicate balance of taste and branding, as startups strive to differentiate themselves in a sea of sameness. With every new entrant aiming to be the next big thing, the challenge is not just to stand out but to survive.

Looking ahead…this category is posed to make some investors strong returns. Just look at the successful acquisitions of companies like BodyArmor and Bai, two examples of lucrative exits for startups.

WEEK AHEAD

What to expect

• Former president Trump faces a Monday deadline to raise $464 million for a New York fraud case appeal, potentially leading to asset sales or the listing of his Truth Social network.

• Federal Reserve's preferred inflation measure, corporate earnings reports, and economic indicators are highlights of the week.

• Notable earnings include reports from: BYD, GameStop, and McCormick & Co. on Tuesday; Carnival Corp., Cintas, Jefferies Financial Group, Land’s End, Paychex, and RH on Wednesday; and Walgreens Boots Allianc e on Thursday.

• U.S. stock and bond markets are closed on Friday for Good Friday.

What else is happening:

• Anniversary of Wall Street Journal reporter Evan Gershkovich's arrest in Russia commemorated on Friday; ongoing dispute over alleged attempt to obtain defense secrets.

• The Supreme Court is deliberating on the potential restriction of mifepristone Tuesday, the abortion pill, amidst a growing trend of women turning to medication for terminating pregnancies.

• It’s Easter this weekend.

SNIPPETS

Pulse Points

• Emad Mostaque has resigned as Stability AI's founder and chief executive, along with stepping down from the board, marking the second major change in a leading AI startup this week.

• NBC News has hired Ronna McDaniel, the former Republican National Committee chair known for attacking the network and promoting false 2020 election claims, as an on-air commentator for the 2024 presidential election.

• Hyundai Motor and its sibling company Kia will recall 147,110 electric vehicles in the U.S. due to potential defects in the charging unit that could cause power loss while in operation, according to the U.S. federal auto safety regulator.

• The Education Department announced that about 200,000 of over 1.5 million processed federal financial aid applications this year require recalculation due to a new issue in the already problematic rollout.

• Tommi Paris was replaced as an official during halftime of the Chattanooga-N.C. State game by the NCAA due to a conflict of interest arising from her master's degree from Chattanooga, a detail not disclosed as required by the NCAA.

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