Raphael Stevens

Adidas is the first major sports brand to create a name, image and likeness network for college student-athletes.
The sports apparel brand is opening up its network to 50,000 student-athletes at NCAA Division 1 Adidas-sponsored schools.
The brand is doing this to mark the 50th anniversary of Title IX and its efforts to create a more equitable future in sport.

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Adidas announced Wednesday a new “name, image and likeness” network that will be open to student-athletes at NCAA Division 1 Adidas-sponsored schools.
The new program will allow more than 50,000 students across 23 sports at 109 schools the ability to become paid spokespeople for the brand.

“The adidas NIL network embodies our belief that sport has the power to change lives by upskilling athletes and giving them the ability to begin to experience an entrepreneurial path that will carry them beyond their college years,” Jim Murphy, Adidas NCAA program lead, said in a statement.
The company says the program will launch in phases over the next 12 months, beginning with historically Black colleges and universities and Power Five conference partners this fall, and then scale across other participating schools by April 2023.
Adidas did not disclose how much student-athletes will be compensated if they choose to participate in the program.
Student athlete will initially be paid a percentage of the sales they drive at adidas.com or the adidas app, as well as the ability to be paid per social media post.
As of July 1, 2021, the NCAA dramatically shifted its economic model, allowing student-athletes the ability to monetize the use of their name, image and likeness for the first time in history. Brands are expected to spend nearly $600 million on NIL deals in its first year, according to a recent white paper by Front Office Sports and Opendorse, a firm that provides the technology to the athlete endorsement industry.

Adidas’ announcement comes near the 50th anniversary of Title IX, which was passed by Congress in 1972 and signed into law by President Richard Nixon that states, “No person in the United States shall, based on sex, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any education program or activity receiving Federal financial assistance.”
Adidas says its program advances its commitment to building inclusivity in sport.
“At adidas, we are committed to creating change through sport and recognize the important role student-athletes play in shaping the future,” Rupert Campbell, president of adidas North America, said in a statement.
The company says that longstanding partners Candace Parker and Billie Jean King are supporting the brand’s ongoing effort to push the game forward.
“Adidas’ NIL network is an incredible step forward for the growth of women’s sports,” said Parker, an Adidas partner. “It will have an impact on the future of college athletics and hopefully create a more equal, sustainable landscape where athletes feel supported and invested in as they grow in their college careers.”

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Authorities say London is experiencing “imported pollution from the continent alongside a build-up of local emissions.”
High pollution alert was issued Tuesday and also covers March 23 and 24. It is the first since August 2020.
“I’m urging Londoners to look after each other by choosing to walk, cycle or take public transport,” Sadiq Khan, London’s mayor, says.

The Mayor of London, Sadiq Khan, has issued a high pollution alert for the U.K. capital.
Andrew Holt | Photolibrary | Getty Images

LONDON — Mayor of London Sadiq Khan has issued a high pollution alert for the U.K. capital, telling those with lung and heart problems to “avoid physical exertion” for its duration.
In a statement, authorities said London was experiencing “imported pollution from the continent alongside a build-up of local emissions.” The high pollution alert was issued Tuesday and also covers March 23 and 24. It is the first since August 2020.

“I’m urging Londoners to look after each other by choosing to walk, cycle or take public transport, avoiding unnecessary car journeys, stopping engine idling and not burning wood or garden waste, all of which contributes to high levels of pollution,” Khan said.
He added that the above was “particularly important in order to protect those who are more vulnerable to high pollution.”
Globally, air pollution is a serious problem. The World Health Organization states that 4.2 million deaths happen each year “as a result of exposure to ambient (outdoor) air pollution.”

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Air pollution in London has become a major talking point in recent years. Earlier this month, it was announced that Khan had asked Transport for London to consult on making the city’s Ultra Low Emission Zone London-wide from 2023.
The ULEZ was expanded last October to cover a quarter of London and is in operation 24 hours a day, seven days a week aside from Christmas Day.

Under the ULEZ, most vehicles that don’t meet a specific set of emissions standards have to pay a daily charge of £12.50 (around $16.53).
The charge for non-compliance is £160, although this is cut to £80 if paid in 14 days. The ULEZ runs alongside the Congestion Charge zone, which is in central London only and costs £15 a day.
London also has a Low Emission Zone, which applies to heavy vehicles over certain weights that don’t meet its standards. These vehicles are not required to pay the ULEZ. Authorities have described the LEZ as covering “most of Greater London.” More

Transportation Secretary Pete Buttigieg on Wednesday announced $2.9 billion for new competitive grants designed to improve U.S. transportation infrastructure.
The sum, part of the bipartisan $1 trillion infrastructure law President Joe Biden signed into law, is intended to bankroll highway, bridge and freight projects.
State, regional and local governments will be able to contend for the grant funding through three separate programs with a single application.

U.S. Secretary of Transportation Pete Buttigieg speaks to the news media during a press briefing at the White House in Washington, U.S., November 8, 2021.
Leah Millis | Reuters

Transportation Secretary Pete Buttigieg on Wednesday said the administration was ready to dole out $2.9 billion in grants for state and local bridge, road and other infrastructure projects.
The sum, part of the bipartisan $1 trillion infrastructure bill President Joe Biden signed into law four months ago, is intended to bankroll public works projects, including highway, bridge, freight, port and public transit expansions and repairs.

Buttigieg told reporters Tuesday that applications for the funds are due by May 23 at 5 p.m. ET and that approvals are expected at some point in the fall.
“Across the last year, I have traveled and seen some of the most glaring and serious infrastructure needs around this country,” the Transportation secretary said. “Often we’re seeing infrastructure that is generations old, very much in need of repair or replacement.”
State, regional and local governments will be able to contend for the grant funding through three separate programs with a single application.
The National Infrastructure Project Assistance program is designed for massive projects than span jurisdictions or are “regional projects of significance.” The Transportation Department will award 50% of funding to projects greater than $100 million and will divvy up $1 billion in funds over the first year.
The second program, known as Infrastructure for Rebuilding America, is meant to fund smaller highway, freight and rail construction projects. The Biden infrastructure provides $8 billion for that program over five years.

The remaining portion of funding will fund the Rural Surface Transportation Grant Program with funds exclusively available for rural communities. Some $300 million in grants will be available through that project in 2022.
The $2.9 billion is a broad, albeit small portion of the trillion-dollar infrastructure law the president enacted in November. The White House said in a press release Wednesday morning that the quick turnaround and streamlined application process will make it easier for state and local governments to bulk up the pipeline of “shovel-ready” projects and ease supply-chain bottlenecks across the country.

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“These investments will create good-paying jobs, grow the economy, reduce emissions, improve safety, make our transportation more sustainable and resilient, and expand transportation options in rural America and other underserved communities,” the administration said in the release.
The broader legislation funnels $110 billion in additional funds to repair roads and bridges, $65 billion for broadband and about $90 billion in guaranteed funding for public transit over five years.
While much of Wednesday’s announcement focused on the details of grant applications, the administration noted that it sees the infrastructure projects as an avenue through which it can fight the supply-chain hurdles blamed for rapidly rising inflation.
“Thanks to the Bipartisan Infrastructure Law, this funding will help enable more communities to build vital infrastructure projects that also strengthen supply chains and reduce costs for American families,” the administration said in its press release.
The projects funded by the bill will also have a secondary economic impact by reducing time spent snarled in traffic, wear and tear on cars and improving access to public transit, the administration has said.
But critics note that will likely take months, if not years, before large-scale infrastructure projects work to cool inflation.
Still, inflation, currently at a 40-year high of 7.9%, could moderate over the next year the Federal Reserve raises interest rates. A resolution to the Russian-Ukraine war could also help stabilize wheat and crude oil prices.

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CNBC’s Jim Cramer on Tuesday said corn and wheat prices could continue to rise due to Russia’s invasion of Ukraine, leaning on analysis from Carley Garner, senior commodity market strategist at DeCarley Trading.
“The charts, as interpreted by Carley Garner, suggest that both wheat and corn prices are headed higher here,” the “Mad Money” host said.

CNBC’s Jim Cramer on Tuesday said corn and wheat prices could continue to rise due to Russia’s invasion of Ukraine, leaning on analysis from Carley Garner, senior commodity market strategist at DeCarley Trading.
“The charts, as interpreted by Carley Garner, suggest that both wheat and corn prices are headed higher here. Maybe much higher. And that is the last thing we want to see, but we might have to get used to it,” the “Mad Money” host said.

Cramer said that Ukraine and Russia account for a third for the world’s wheat production, and while this year’s crop was planted before war broke out between the two countries, harvesting and shipping could be a challenge due to high energy costs and safety concerns.
Wheat futures 
Current prices are the highest they’ve been since 2008, when a slew of factors including high oil prices and unusually dry weather in the United States led wheat to leap to $13 a bushel from the $3 to $6 it hovered around for decades prior, Cramer said.
Garner believes this jump was “even faster and more disorderly,” Cramer said. Additionally, because future exchanges have price limits on how much a commodity can move in a session, wheat can be “locked limit-up,” which means the price has moved to its limit in a day, and short-sellers who don’t want to sell at the limit price are held in that position until the next day.
This phenomenon happened during the week after the Russia-Ukraine war began, which Garner believes helped drive up wheat prices to $13.60 with little trading.

Here’s a weekly chart of wheat futures and the Commodity Futures Trading Commission’s commitments of traders data. The COT report shows the net positions of small speculators, large speculators and commercial hedgers.

Arrows pointing outwards

Here, Garner sees that because of locked limit-up trading sessions, money managers are net long by only 12,000 contracts, Cramer said. In the past, they could go up to 50,000, according to Garner, which means that “if institutional money managers want to bet on wheat here, they’ve still got a ton of dry powder,” Cramer said.
Garner believes prices are going to continue to increase, Cramer said.
Here is the daily chart of the May wheat futures:

Arrows pointing outwards

After prices peaked on March 8 and underwent six limit-up moves, wheat futures declined sharply, according to Garner. But prices still stayed above wheat’s 20-day moving average, while the Relative Strength Index, a momentum indicator, pulled back from overbought territory while staying positive. This means wheat has “got more room to run,” Cramer said.
“As long as it holds above its floor of support at $10.30 a bushel, which is down roughly 90 cents from here, Garner believes wheat can make another run at its highs over the coming weeks or months,” Cramer said.
Corn futures
Although Ukraine accounts for 4% of the global output of corn, “no trader wants to sell corn when the wheat board is lighting up,” Cramer said. He added that corn was able to rally because corn-based ethanol is currently cheaper than oil, which has surged in price in recent weeks.
Here is the monthly chart of the May corn futures:

Arrows pointing outwards

Garner believes the corn rally could end soon but still be hard-hitting, said Cramer, adding that if corn futures surpass the price ceiling of resistance around $7.70, it could approach record levels of $8.50.
“She doesn’t expect corn to burst through that level, but if it somehow manages to keep roaring, then she doesn’t see any more resistance until $10.50. That would be a new record. If corn gets to that level, it means we’re dealing with an insane level of inflation,” Cramer said.
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