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Migrants pull an overcrowded dinghy with Syrian and Afghan refugees arriving from the Turkish coasts to the Greek island of Lesbos. Photo: Santi Palacios / AP

The European Union announced it has set aside 500 million euros ($587 million) to resettle at least 50,000 more refugees over the next two years, per AP. The EU said it wants refugees in Libya, Egypt, Niger, Sudan, Chad and Ethiopia to be the priority to discourage migrant boats from making the dangerous Mediterranean crossing.

Why it matters: European countries are ultimately responsible for deciding their own resettlement numbers, and are not bound by the EU's pledge.

  • Key quote, from EU Migration Commissioner Dimitris Avramopoulos: "Europe has to show that it is ready to share responsibility with third countries, notably in Africa. People who are in genuine need of protection should not risk their lives or depend on smugglers."
  • Take note: Brussels said it wants to ensure that unauthorized migrants are returned to their home countries more quickly. The AP notes that currently only around "one third of those deemed ineligible" are actually sent back. "We have to be clear and brutally honest, people who have no right to stay in Europe must be returned," Avramopoulos said.
  • Context: The EU has already resettled roughly 23,000 people from refugee camps in countries outside the EU under this mechanism. Turkey and Jordan, which were overwhelmed with people fleeing the war in Syria, had previously been the focus. Avramopoulos said resettlement from those areas will continue but there is now an "increased focus" on the countries from northern Africa.

Go deeper

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Beauty giant Coty Cosmetics looking to sell its own branded products

Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO

Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.

Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.

4 hours ago - Sports

NFL to end race-based testing in concussion settlements

Photo: Brett Carlsen/Getty Images

The National Football League on Wednesday reached an agreement with former players to end the controversial practice of race-based adjustments in dementia testing, AP reports.

Why it matters: The deal, which must still be approved by a judge, comes amid a broader discussion of racial inequities in health care.