Serves up

How tennis became the world's favorite pastime & bank branches are disappearing fast

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Good morning readers. As if burgers needed more reasons to be loved, National Hamburger Day is flipping onto our calendars today, May 28. America's darling dish boasts a sizzling 85% popularity, nearly charring the charts. With a whopping 50 billion burgers devoured annually, why not keep the grill hot from Memorial Day? This year, bite into some of the tastiest deals tracked down by USA TODAY—or scout local specials online.

And if that doesn’t make you happy, just remember: it’s a short week.

Let’s jump into today’s storylines.

In today’s digest:

  • Tennis is taking over sports, fashion and social media all at once

  • Headline Hustle: Israel’s Benjamin Netanyahu says strike on Rafah was a ‘tragic mistake’, southern storms in the U.S. kill at least 20 people, over 90% of Canadian border agents vow to strike

  • Your bank may never have a physical location again

  • Pulse Points: What’s Trending

SPORTS

The unstoppable rise of tennis popularity

Source: Reuters

You might think the tennis craze sweeping the globe has everything to do with Zendaya's latest blockbuster, "Challengers," where love and backhands mix intriguingly on the silver screen. But the truth? The sport has been volleying up in popularity well before its Hollywood close-up.

The global tennis renaissance

Tennis, once a pastime reserved for country club elites, is now smashing records and netting fans worldwide. From luxury brand endorsements with the likes of Louis Vuitton and Loewe to tennis stars becoming regulars on the covers of Vogue, the sport is having more than a moment—it's a movement.

The sport is also seeing a rise on social media. The #tenniscore trend is rallying millions of views on TikTok, proving that the love for the sport extends beyond the physical courts. It’s not just about watching the pros; people are grabbing rackets and hitting local courts in droves, with nearly 24 million Americans now playing the sport.

But it's not just fandom that’s fueling tennis's newfound vitality.

  • According to SponsorUnited, sponsorships and brand engagements in tennis have spiked by over 40% in the past year alone.

  • From traditional sports brands to unexpected sectors like luxury watches and cars, companies are eager to align with tennis's upscale and global audience.

ESPN's choice of Serena Williams to host the ESPY Awards on ABC is perhaps the most telling sign of tennis’s elevated status. With major tournaments drawing higher TV ratings and documentaries like Netflix’s “Break Point” pulling the curtains back on the sport’s most compelling stories, tennis is proving to be a year-round spectacle.

The real serve? Tennis’s ability to mesh sports, fashion, and culture into a single, compelling narrative, making it more than just a game—it’s a lifestyle. Whether it’s Roger Federer promoting Swiss tourism or the viral cocktails at the US Open, tennis offers a unique platform for storytelling and brand exposure.

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IN THE KNOW

Headline Hustle

Source: Reuters

🇮🇱 After airstrike in Rafah kills 45 civilians, Israeli PM calls it a ‘tragic mistake’ and promises an investigation. Israeli Prime Minister Netanyahu labeled the airstrike in Rafah, Gaza, that killed dozens of civilians as a "tragic mistake" and promised an investigation. This incident follows intensified scrutiny after a United Nations' directive and comes amid a rare conflict with Egypt, which resulted in an Egyptian officer's death. International backlash is growing, with criticisms from the U.S., France, and the EU, emphasizing the need to protect civilians. Over 800,000 have fled Rafah, yet 500,000 remain despite evacuation orders.

⛈️ At least 20 killed in southern storms as severe weather heads east. Severe weather moved to the Northeast on Monday, affecting over 30 million people with a thunderstorm watch in cities like Philadelphia and New York, capable of producing 65 mph wind gusts and quarter-sized hail. The storms follow a deadly weekend across the South and Great Plains, where 21 lives were lost due to weather-related incidents like falling trees. Kentucky's Governor reported state casualties and extensive damage, while emergency teams survey the aftermath. Simultaneously, a heat wave threatens Texas with record temperatures potentially exceeding 100 degrees.

🇨🇦 Canadian border agents threaten to strike, risking billions in cross-border trade. Over 90% of Canadian border agents, represented by the Public Service Alliance of Canada, voted to strike potentially next month, threatening significant disruptions to the U.S.-Canada trade. The strike could impact the $2.6 billion daily trade flow, coinciding with possible rail strikes, heightening risks to the North American supply chain. The union demands wage increases and improved benefits, aligning with other national law enforcement agencies. Delays similar to the 2021 partial strike are anticipated, affecting major U.S. entry points.

BANKING

It might be time to ditch your local bank branch

Miss the days of visiting your local bank branch? You might want to savor those memories. The digital banking wave is washing away the need for brick-and-mortar banks faster than you can say “direct deposit.”

Last year alone, a staggering 2,454 bank branches closed their doors for good, a trend that’s only accelerating. By the end of 2024, major players like Wells Fargo, Bank of America, and Chase had shuttered over 400 additional locations.

Why the mass exodus from brick-and-mortar?

High interest rates nibbling away at profits have forced banks to reconsider their expansive physical footprints. Nathan Stovall from S&P notes, "As revenue pressures persist, banks likely will continue to shrink branch networks."

So why consider the switch to online banking? It's about reaping tangible benefits.

  • Online platforms offer perks like higher interest rates and lower fees due to their lower overhead costs.

  • While traditional savings accounts languish with average yields around 0.45%, online banks like Poppy Bank and BrioDirect are dishing out rates as high as 5.5%.

When digital doesn't cut it. Certain scenarios, like small business operations dealing in cash or frequent foreign currency exchanges, might still necessitate the in-person touch. For those who can't quite let go of the physical branch, hybrid banking—maintaining both online and in-person accounts—might be the best strategy.

Big picture: In an era where convenience is king, the move to online banking seems less a choice and more an inevitability. As banks continue to pivot online, it’s clear the future of banking isn't just digital—it's already here.

SNIPPETS

Pulse Points

  • Elon Musk's AI startup, xAI, raised $6 billion in Series B funding, achieving a post-money valuation of $24 billion as investors increasingly back competitors to firms like OpenAI in the escalating AI race.

  • Major retailers like Walmart are increasing discounts during the summer to attract shoppers tired of dealing with inflation.

  • The Louisiana Senate passed legislation to classify abortion pills as controlled substances (the same category as Opiods), potentially making Louisiana the first U.S. state to criminalize possession of these drugs without a prescription.

  • The NBA announced that two-time champion Bill Walton has passed away after a prolonged battle with cancer.

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