NFL Draft, Belt and Road Forum, Japanese Scientists, Joseph R. Biden Jr., Lululemon, Jazz Fest

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NFL Draft, Belt and Road Forum, Japanese Scientists, Joseph R. Biden Jr., Lululemon, Jazz Fest

Caracal Global Daily
April 25, 2019
Curation and commentary from 
Marc A. Ross

Reporting from Alexandria, Virginia 

Caracal Global Daily  = News + Analysis at the Intersection of Globalization + Disruption + Politics


TOP FIVE

✔️ Brexit stirs Scottish call for new independence vote

✔️ Japan creates first artificial crater on asteroid

✔️ Joe Biden launches bid for White House

✔️ Ford Motor Co. will invest $500 million in Rivian Automotive Inc.

✔️ Jazz Fest at 50

ROSS RANT

My 2019 NFL Mock Draft

First Round

1. Arizona Cardinals - Scottsdale is cool in your 60s, not so much in your 20s.

2. San Francisco 49ers - You'll have a chance to invest in the next Theranos.

3. New York Jets - "No, we are the Jets. Not the Giants."

4. Oakland Raiders - "It's actually crazier in the locker room."

5. Tampa Bay Buccaneers - Ybor City looks fun.

6. New York Giants - The fourth most valuable franchise in the NFL.

7. Jacksonville Jaguars - "Jacksonville, do you believe in miracles?" - that was 23 years ago.

8. Detroit Lions - At least "The Captain" Steve Yzerman is back in town.

9. Buffalo Bills - You'll love Toronto.

10. Denver Broncos - It's the Vic Fangio era. Enough said.

11. Cincinnati Bengals - Love that WKRP and chili on spaghetti. Amazing.

12. Green Bay Packers - "No way. Aaron Rodgers is not a diva. No way."

13. Miami Dolphins - You'll wish you worked at a Hard Rock.

14. Atlanta Falcons - "One of our players married a Real Housewife of Atlanta!"

15. Washington Redskins - Only the White House is more poorly managed in this town.

16. Carolina Panthers - The floppy hair and khakis capital.

17. New York Giants - The ninth most valuable professional sports franchise in the world.

18. Minnesota Vikings - Still a spectacular stadium.

19. Tennessee Titans - "Did we tell you Vince Young appeared on the cover art for the Madden NFL 08?"

20. Pittsburgh Steelers - Playoff appearances = 1947, 1972, 1973, 1974, 1975, 1976, 1977, 1978, 1979, 1982, 1983, 1984, 1989, 1992, 1993, 1994, 1995, 1996, 1997, 2001, 2002, 2004, 2005, 2007, 2008, 2010, 2011, 2014, 2015, 2016, and 2017.

21. Seattle Seahawks - Seahawk is another name for Osprey.

22. Baltimore Ravens - Have you had a crab cake sandwich?

23. Houston Texans - Astronauts Mark and Scott Kelly are fans.

24. Oakland Raiders - Peaking for Las Vegas!

25. Philadelphia Eagles - "Yes, Gritty is more horrifying in person."

26. Indianapolis Colts - The owner just bought the piano used by John Lennon for 'Sgt. Pepper' album.

27. Oakland Raiders - Three picks in the first round, still won't matter.

28. Los Angeles Chargers - High schools in Texas have more fans in the stands.

29. Seattle Seahawks - Some QBs give watches, Russell Wilson gives linemen Amazon stock.

30. Green Bay Packers - "Seriously. Aaron Rodgers is not a diva."

31. Los Angeles Rams - Headquartered in Agoura Hills, California. You know the place where the filming of the M.A.S.H TV series took place.

32. New England Patriots - Denting the Vince Lombardi Trophy?!? Did Gronk just put a curse on the team?!?

-Marc

Marc A. Ross specializes in thought leader strategy for executives and entrepreneurs working at the intersection of globalization, disruption, and politics.

GLOBALIZATION

Brexit stirs Scottish call for new independence vote: WSJ reports, Scottish leader Nicola Sturgeon said she would seek another referendum on secession. The head of the Scottish government called for another referendum on secession from the UK within two years if Brexit goes ahead, saying independence would allow Scotland to keep its place in the European Union.

Therese Raphael: Watch out, UK Conservatives. Nigel Farage is coming after you. His new Brexit Party seeks seats in the European Parliament, but his larger ambition is realigning British politics.

FT: Hammond to seek UK deals in China’s Belt and Road Initiative

The chancellor to lobby for British companies to provide finance or engineering expertise.

Belt and Road forum: China's 'project of the century' hits tough times: Guardian reports, a raft of countries including Turkey have refused to attend latest summit amid growing concern about debt diplomacy.

Belt and Road Forum: Is the China-Pakistan economic corridor failing? DW reports, Pakistan's Prime Minister Imran Khan is participating in the second Belt and Road Forum in Beijing amid reports that the multi-billion dollar China-Pakistan Economic Corridor project is not really moving forward.

Spy chiefs in uproar over leak from secret Huawei talks: The Times, an unprecedented leak from highly confidential talks with senior ministers about the Chinese telecoms company Huawei has caused outrage among spy chiefs. There were calls for an inquiry after reports emerged of a meeting at which Theresa May was said to have given Huawei approval 

Catalonia: The crisis at the heart of Spain's election: Reuters reports, proudly displaying two Spanish flags he brought to wave at a Vox rally, retired police officer Jose Antonio Corrales Sierra says he will vote for the far-right party in Sunday's election and is ditching the mainstream PP conservatives because of Catalonia.

France's Macron to unveil long-awaited reform plan: AFP reports, Macron will unveil Thursday his long-awaited response to nearly six months of street protests as he lays out reform plans that could prove decisive for his political future. Macron, 41, swept to power in 2017 on hopes he would be a youthful breath of fresh air for France.

In rare move, French warship passes through Taiwan Strait: Reuters reports, a French warship passed through the strategic Taiwan Strait this month, U.S. officials told Reuters, a rare voyage by a vessel of a European country that is likely to be welcomed by Washington but increase tension with Beijing.

AFP: China says navy warned off French warship in Taiwan Strait

"The Chinese military sent warships in accordance with the law, in order to identify the French ship, and warn it to sail away," Ren Guoqiang said at a monthly press briefing.

FT - Editorial: A US-China trade deal will not resolve all the tensions: The world’s long-term future depends on managing this relationship.

#Correct

New missile gap leaves US scrambling to counter China: Reuters reports, American aircraft carriers are the backbone of US military supremacy in Asia. But Xi Jinping's upgraded Rocket Force could render them obsolete in a conflict with China.

Nikkei: Xi poses a riddle and reignites speculation about his successors https://s.nikkei.com/2L57dzB

Talk of a 'President Chen Min'er' and 'Premier Hu Chunhua' swirl in capital.

Why would Xi Jinping allow himself to be seen flanked by Chen Min'er and Hu Chunhua? Perhaps to prepare for a political battle that is still more than three years away.


LAT: After Trump walked out on him, North Korea’s Kim meets with Putin in Russia

Putin, Kim summit shows Kremlin’s increasing political dominance
: WP reports, the meeting between Russian President Vladimir Putin and North Korean leader Kim Jong Un sent a stark signal to the United States that the Kremlin can wield influence over Pyongyang’s nuclear program.

OTD: In 1945 the San Francisco Conference began, at which the UN Charter was drafted.

DISRUPTION

Measles outbreak in US is largest since disease was declared eliminated: NYT reports, the outbreak, linked to skepticism about vaccines, has led to extraordinary measures, including $1,000 fines and bans on unvaccinated children in public.

Japan creates first artificial crater on asteroid: AFP reports, Japanese scientists have succeeded in creating what they called the first-ever artificial crater on an asteroid, a step towards shedding light on how the solar system evolved, the country's space agency said Thursday. The announcement comes after the Hayabusa2 probe fired an explosive device at the Ryugu asteroid early this month to blast a crater in the surface and scoop up material, aiming to reveal more about the origins of life on Earth.

POLITICS

NYT: Trump vows stonewall of ‘all’ House subpoenas

Deutsche Bank hands over Donald Trump loan documents
: reports: DW reports, the German lender has started providing files to New York authorities related to funding of Trump projects. Investigators are interested in Deutsche Bank as it is one of the few banks to lend to the Trump Organization.

Steven L. Hall: ‘No collusion’? I managed Russia operations at the CIA. Read between the lines. https://wapo.st/2L594V5

"Counterintelligence investigations don’t always result in charges. Just ask Felix Bloch."

Jonathan Bernstein: The resistance is coming from inside the White House: Trump staffers are already known to ignore the president, and it’s a tendency that will only continue.

Pence hits the road to save new Trump trade deal: FT reports, the vice-president seeks to rally support for an agreement with Canada and Mexico.

Biden enters 2020 Democratic presidential race: WSJ reports, former Vice President Joe Biden said he would seek the Democratic nomination in 2020, launching a third bid for the White House as a blue-collar stalwart in a party hungry to defeat President Trump.

Biden is running for president, after months of hesitation: NYT reports, former Vice President Joseph R. Biden Jr. has stayed on the sideline while his record has been scrutinized. His entry has the potential to reshape the Democratic primary contest.

Joe Biden launches bid for White House: FT reports, the former vice-president faces big questions over age, gaffes and his behavior around women.

Joe Biden enters the presidential race, testing whether his time has come — or come and gone: LAT reports, Joe Biden launches a third bid for the presidency at the age of 76, and his entry could give new shape to the sprawling candidate field.

Joe Biden jumps into crowded 2020 race: WP reports, the former vice president, who is making his third bid for the Democratic nomination, took direct aim at President Trump and declared that “we are in the battle for the soul of this nation.”

Biden is a first-tier candidate.

My top Dem buddy strategist thinks Beto is the dude to beat.


US broadcaster under scrutiny for disseminating propaganda: WSJ reports, federal officials are scrutinizing the US government’s Radio Free Europe / Radio Liberty, established to promote democratic values abroad, after complaints it has distributed propaganda favorable to authoritarian regimes in Central Asia. 

COMMERCE

Deutsche Bank and Commerzbank ended merger talks.

Walmart’s British arm is blocked from merger with UK supermarket: WSJ reports, regulators blocked the proposed merger between Walmart’s British grocery unit and rival J Sainsbury citing competition concerns, meaning the US retail giant must now find ways to drive stand-alone growth for Asda in the UK’s highly competitive retail market.

Facebook set aside $3 billion for an expected fine from the Federal Trade Commission over privacy issues, cutting into profit even as its underlying business remained strong.

Tesla on Wednesday that it lost $702 million in the first quarter, a sharp reversal from the profits it made in the second half of last year. 

Musk signals Tesla cash call after burning through $1.5 billion: FT reports, the carmaker indicates readiness to raise outside capital after net loss of $702m in first quarter.

Huawei hits out at claims of state control through 'employee' stake: Nikkei reports, the staff lack direct ownership interest, admits executive, but have rights of shareholders.

Chinese companies face surging write-offs: Nikkei reports, after a global investment spree, impairments weigh on tech and energy companies.

Reuters: Volkswagen plans electric vehicle plant with JAC in China: local government

Ford Motor Co. will invest $500 million in Rivian Automotive Inc., aligning the maker of the industry-leading F-Series pickup line with an upstart that’s electrifying gas-guzzling trucks and sport utility vehicles.

Lululemon to launch line of grooming products.

Bloomberg: Microsoft poised to top $1 trillion in value, beating Amazon and Apple

Microsoft gained 5.2 percent in pre-market trading after its third-quarter earnings.

CULTURE

Jazz Fest at 50: The stubbornness and joy of New Orleans: NYT reports, over a half-century, the eclectic and beloved live-music and food event has grown inseparable from the cultural ecosystem of its hometown.

Queen Elizabeth II, Kim Jong Un, CRISPR, Joe Biden, Guy Raz

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Queen Elizabeth II, Kim Jong Un, CRISPR, Joe Biden, Guy Raz

Caracal Global Daily
April 24, 2019
Curation and commentary from 
Marc A. Ross

Reporting from Alexandria, Virginia 

Caracal Global Daily  = News + Analysis at the Intersection of Globalization + Disruption + Politics


TOP FIVE

✔️ Trump finally gets his British state visit

✔️ Drones to deliver medicines to 12 million people in Ghana

✔️ Beer and cigarette makers join the pot lobbying parade

✔️ Beyond Meat targets $1.2 billion valuation

✔️ Tribeca Film Festival opens in New York

ROSS RANT

Brigadoon Remote 2019 - Save the Date

Think of four days where you can work remotely in a country estate, spend the day as you want, work on your book, strategize, think, read, whiteboard, check-out, go for a hike, and have evening dinners with fellow participants where the topic of conversation is business development and entrepreneurship.

November 11-15, 2019
One hour outside of Edinburgh, Scotland
Limited to 7 participants
$250.00 deposit secures your spot


Ping at marc@thebrigadoon.com if you want to attend.

-Marc

GLOBALIZATION

London Town: Trump and FLOTUS accepted the invitation of Her Royal Majesty Queen Elizabeth II to visit the United Kingdom from June 3 to 5, 2019.

Trump finally gets his British state visit — but tensions that led to delay remain: WP reports, the president, deeply unpopular in Britain, will probably not be able to avoid massive demonstrations against his visit, scheduled for early June.

May approves Huawei involvement in UK 5G network: FT reports, Chinese telecoms group banned from most sensitive parts of project on security concerns.

The Times: Theresa May set to anger US with ‘limited access’ for Huawei

Today
: The funeral of Lyra McKee, the Northern Irish journalist who was shot dead last week during riots, is held in Belfast.

China's Belt and Road cracks down on corruption in image revamp: Bloomberg reports, the Belt and Road Initiative is getting a makeover to tone down government rhetoric and tighten oversight, after allegations of corruption and a lack of sustainability dogged some of its highest-profile projects. Beijing is taking a range of steps to exert more control over the program, officials and participants said, including a more muted publicity drive, clearer rules for state-owned-enterprises, restricting use of the BRI brand, and building overseas auditing and anti-corruption mechanisms. It’s also stepping up efforts to get developed nations to join in to spread the risk of building projects in poorer nations and to counter allegations that BRI is just an attempt to build China’s political influence.

Beijing to defend initiative as it welcomes 37 heads of state to summit this week.

Chinese enterprises invested over $90 billion in BRI countries.

China has signed 173 cooperation documents on BRI with 125 countries and 29 international organizations as of April 18, according to state-run news agency Xinhua.


OTD: In 1970 China launched its first satellite, which orbited the Earth transmitting the patriotic tune The East is Red.

Mnuchin and Lighthizer to head to Beijing as trade talks resume: FT reports, talks to focus on stubborn hurdles of intellectual property, technology transfers.

“The subjects of next week’s discussions will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement,” the White House said.

Kim and Putin set for talks as Russia seeks influence: FT reports, Pyongyang pivots to northern neighbor as ties founder with US.

‘I have long dreamed of visiting’: Kim Jong Un arrives in Russia for talks with Putin: WP reports, the Kremlin has said no major agreements will be signed during Kim’s meeting with Vladimir Putin, which is expected to take place behind closed doors.

Russia's Putin meets North Korea's Kim: Side-show or power move in nuclear crisis? DW reports, in the wake of stalled nuclear talks with the US, Kim is seeking diplomatic assistance from the Kremlin. Russia wants stability on its far-eastern border — but President Putin may have a bigger picture in mind.

Martin Wolf: The age of the elected despot is here: People want to believe a powerful and charismatic leader is on their side in an unjust world.

DISRUPTION

A new normal: A journey through America’s complex history with cannabis. Directed by Spike Jonze. (video) http://bit.ly/2L7kPdw

University of California gets its CRISPR patent: Six years after the initial application — and after a legal dispute that sucked up tens of millions of dollars — a foundational CRISPR-Cas9 patent will be granted to the University of California. The patent, based on the work of Jennifer Doudna, Emmanuelle Charpentier, and their colleagues, covers CRISPR-Cas9 genome editing in every kind of cell, in lab dishes and in living organisms. 

FT: Drones to deliver medicines to 12 million people in Ghana

Zipline project is the world’s largest drone delivery network. The drones are planned to be able to deliver to 2,000 clinics across Ghana.

POLITICS

WP: White House plans to fight House subpoena of former counsel Donald McGahn for testimony on Mueller report

OTD
: In 1800 President John Adams approved the spending of $5,000 to establish a Library of Congress.

WSJ: S&P 500 and NASDAQ hit closing records

Stocks have flourished this year—the S&P 500 is up 17% while the Nasdaq has gained 22%.

Morning Consult Political Intelligence report:

- Biden remains the top overall pick among all likely Democratic primary voters and voters in early primary states.

- Buttigieg moves up to third place with 9% of the vote: More than half (64%) of likely Democratic primary voters have now heard of Buttigieg.

- Health care and the economy remain the most important issues to Democratic voters.

- Trump's approval hits record low: The President's net approval of -18 is his worst since taking office.


Trump camp descends on Pennsylvania as alarms grow over 2020: Politico reports, the president's team is set to meet with a state Republican Party riven by dissension.

Larry Hogan derides Trump as ‘dear leader’: Politico reports, Maryland Governor Hogan (R) said he's unafraid to stand up to the president but is in no rush to jump into the 2020 race.

Joe Biden: He’ll be the 21st Democrat to enter the party’s 2020 presidential field and will now announce his 2020 presidential bid on Thursday.

WP: Joe Biden to enter 2020 presidential race with Thursday video announcement

Inside Biden's battle plan
: Politico reports, he is seeking to mark his entrance into the 2020 race with a rush of union support, early-state endorsements, and fundraising figures.

Rivals are scrambling to dig up dirt on Pete Buttigieg: NBC News, Buttigieg was on nobody's radar as a serious presidential contender until a few weeks ago. Now his competitors are scrambling to find vulnerabilities.

Beto O’Rourke opens his California campaign Saturday in Los Angeles: LAT reports, Democratic presidential candidate Beto O'Rourke will launch his 2020 California Democratic presidential primary campaign on Saturday with a four-day swing, stopping in Los Angeles, San Francisco, the Central Valley, and San Diego.

Trump orders administration officials not to attend White House correspondents dinner: Reuters reports, Trump, who bemoaned his treatment by the news media in a flurry of tweets on Tuesday, has barred members of his staff and administration from attending the White House Correspondents' Association dinner on Saturday, officials said.

Beer and cigarette makers join the pot lobbying parade: Politico reports, the push to legalize marijuana quickly transformed the cannabis industry into a multibillion-dollar legal business. And now Fortune 500 companies and elite K Street lobbying firms have joined the green gold rush. Altria, the tobacco giant better known for Marlboros, recently took a $1.8 billion stake in the cannabis company Cronos Group. Constellation Brands, which makes Corona beer, has spent money on cannabis lobbying after making a major investment in Canopy Growth, a Canadian marijuana company. On K Street, powerhouse firms like Holland & Knight — which has represented Comcast, Google and Dow Chemical — have taken on marijuana clients.

Pot may be illegal at the federal level but corporate giants and K Street are preparing for the push to legalize.

COMMERCE

Applied Materials halts work for red-flagged Chinese chipmaker: FT reports, US supplier pulls staff from San’an Optoelectronics following government listing.

Pepsi dispenser: PepsiCo has announced a new beverage dispenser for the food service sector, colleges, and workplaces. The "hydration platform" is aimed at encouraging people to fill up their own reusable bottles, and not with soda, but rather with flavored, carbonated water. 

Ancestry.com is preparing to take the family tree research/DNA testing company public amid increasing consumer interest in DNA tests.

Beyond Meat targets $1.2 billion valuation when it becomes the first plant-based meat company to IPO.

PayPal's Venmo closes in on a new partnership to launch a credit card.

Luminary, flush with $100 million in funding, wants to sell you a $8/month subscription to deliver exclusive podcasts. It’s planning to eventually roll out more than 40 ad-free shows, which include Guy Raz (of How I Built This fame), Lena Dunham, and Trevor Noah.

Wing Aviation, a unit of Alphabet’s Google, received the first US authorization to operate a fleet of consumer delivery drones.

SoftBank Group plans to invest about $1 billion in Wirecard, forging a partnership that allows SoftBank to take a minority stake in the German payments company.

Nikkei: Huawei closes technology gap with Apple on chip design

Chinese 4G semiconductors already 'equal to or better than' US tech giant.

CULTURE

LAT: As Coachella raged, the LA tech world made plans to live on Mars

Betaspace, billed as the place where “Burning Man and the Consumer Electronics Show collide.” 

Sri Lanka, Adidas, Don McGahn, Luckin Coffee, Beyoncé

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Sri Lanka, Adidas, Don McGahn, Luckin Coffee, Beyoncé

Caracal Global Daily
April 23, 2019
Curation and commentary from 
Marc A. Ross

Reporting from Alexandria, Virginia 

Caracal Global Daily  = News + Analysis at the Intersection of Globalization + Disruption + Politics


TOP FIVE

✔️ Sri Lanka links bombings to New Zealand attacks

✔️ A new Adidas shoe uses just one material + fully recyclable

✔️ Pelosi urges caution on impeachment 

✔️ Amazon strengthens ties with Casino

✔️ The mystery of business casual

ROSS RANT

7 deadly sins of communications


Based on my experience, communication efforts fail because of these seven reasons:

1. No clear and consistent strategy

2. Over-indexing on tactics

3. Poor organization and staffing

4. No consistency or editorial calendar 

5. Know-how is not shared and made available

6. Efforts are reactive and by chance

7. Online activities not in sync with offline activities

-Marc

GLOBALIZATION

Sri Lanka links bombings to New Zealand attacks: WSJ reports, Sri Lanka’s government has information indicating the plotters of Easter bombings that killed more than 300 people were reacting to the New Zealand shootings that left 50 Muslims dead in March, the country’s defense minister said.

Huawei has received funding from Beijing security agencies: According to a source for The Times, which indicates the CIA warned British intelligence of the links; China’s National Security Commission, the People’s Liberation Army and another branch of Chinese intelligence reportedly funded the telecom.

At Tokyo C20, civil society leaders from around the world press to be heard at Osaka G20: JTJ reports, participants from 40 countries concluded a gathering in Tokyo calling for inclusion at the Group of 20 leaders’ summit set to be hosted by Osaka this year.

Kim Jong Un will soon visit Russia to meet Vladimir Putin.

Japan softens tone on North Korea and Russia in foreign policy report as Abe pursues deals: TJT reports, Tokyo removed a reference to applying “maximum pressure” on Pyongyang and stopped short of explicitly claiming ownership of the Russian-held islands off Hokkaido.

FT: Japan scrambles to recover F-35 jet before Russia or China

Civilian ship joins search operation that highlights sensitivity of craft’s technology.

US, Indian navies practice hunting submarines together in Indian Ocean: Stars & Stripes reports, a Navy P-8A Poseidon and guided-missile destroyer recently joined with the Indian navy’s P8-I Neptune for submarine-hunting drills near Diego Garcia. 
 
To help counter China, US turns to the Coast Guard: WP reports, as a US Coast Guard cutter sailed through the East China Sea last month, Chinese vessels shadowed it on the high seas, service officials said. It was a reminder to the Americans of where they were: in a strategic area a couple hundred miles from China’s shores. 

How China is replacing US as Asia’s military titan: Reuters reports, Chinese leader Xi Jinping has refashioned the People's Liberation Army into a force that is rapidly closing the gap on US firepower – and in some vital areas has surpassed it. American victory over China in a regional war is no longer assured.

Chinese President Xi Jinping’s unsteady steps revive worries over Beijing succession plan: WSJ reports, images of a slightly limping Xi Jinping stirred questions about his health and renewed concerns about succession plans for the most powerful Chinese leader since Mao.

#Beijingology

London calling: Trump to pay a state visit to Britain in June as a guest of Queen Elizabeth II.

How to become the next prime minister: The next Conservative leader must clear three tricky hurdles before they end up in Downing Street. https://econ.st/2KX1pbh

Brexiteers rewrite the rules in fresh bid to oust May: The Times reports, Tory Brexiteers will make a fresh attempt today to oust Theresa May within weeks by changing party rules to allow another challenge to her leadership. Members of the party’s powerful backbench 1922 Committee are to meet this afternoon for an emergency session.

Colm Kelleher: The EU’s post-Brexit ambitions miss an important point: Lost in the London v Europe dogfight is a larger truth — the market is global, not regional.

How long will Angela Merkel's chancellorship last? DW reports, Angela Merkel says she wants to remain in office until her term is up. But behind the scenes, plans are already being hatched for Annegret Kramp-Karrenbauer to take over the chancellorship.

DISRUPTION

A new Adidas shoe uses just one material – and is fully recyclable: Usually, Adidas's trainers include more than 12 different materials. The Futurecraft.Loop uses one plastic and could usher in an era of shoe subscriptions. http://bit.ly/2VhLSXE

"It's estimated that 300 million pairs of running shoes are thrown away each year in the UK alone."

POLITICS

FNC: House Judiciary chairman subpoenas ex-White House counsel Don McGahn

Mueller report fallout threatens to redefine constraints on presidency: WP reports, the aftermath of the special counsel’s report, as well as Congress’s inability to help serve as a check on President Trump, could create a precedent in which it remains unclear where to draw lines on presidential behavior.

NYT: Pelosi urges caution on impeachment as some Democrats push to begin

Kamala Harris calls for impeachment of Trump: FT reports, the California senator is second major presidential contender to demand Congress acts.

Meet the Democrats’ new voice on foreign policy: Politico reports, Tom Malinowski (D-NJ) is an unlikely member of Congress. But he's fast becoming a force on Capitol Hill.

Herman Cain withdrew from consideration for the Federal Reserve board.

Lighthizer aide to depart as US-China trade talks progress: FT reports, the top legal adviser to Robert Lighthizer, the US trade representative, is leaving the Trump administration at a delicate moment in the negotiations to resolve Washington’s trade dispute with China. Stephen Vaughn, the general counsel at USTR, will be replaced by Joseph Barloon, a lawyer at Skadden Arps, in the role in the coming weeks

Q1 2019 fundraising totals:

1. Trump $30m
2. Bernie Sanders $21m
3. Elizabeth Warren $17m
4. Kamala Harris $13m
5. Kirsten Gillibrand $12.6m


Where is Howard Schultz?

NYT: Biden looms, but Bernie Sanders is running his own race

Hogan visits New Hampshire, hoping to find activists eager for an intraparty fight
: WP reports, even though most New Hampshire polls show most of the GOP base is solidly behind President Trump, the moderate Republican governor of Maryland is flirting with a primary challenge.

How to redesign GDP for the 21st century: Quartz reports, for decades, economists have tried to come up with better methods of measuring the economy than gross domestic product. But the dominance of GDP—a single figure, universally understood, and widely used for almost a century—has endured. This is despite its shortcomings gauging wellbeing and other factors that are important to a nation’s economic health. Now, though, some economists have created an ambitious new measure with the potential to challenge the preeminence of GDP. This new metric doesn’t directly measure happiness or wealth or development, but calculates something else GDP neglects—free digital goods and services. These 21st-century technologies have basically broken 20th-century practices for measuring the economy. MIT’s Erik Brynjolfsson, along with Avinash Collis, W. Erwin Diewert, Felix Eggers and Kevin J. Fox, have developed “GDP-B”. It’s designed to capture the numerical value of the things that we don’t pay for but still have plenty of value, such as online maps, photos taken on smartphones, Wikipedia, and social media.

COMMERCE

This Estonian start-up is a thorn in Uber’s side: NYT reports, the ride-hailing company Bolt is an unexpected success story, and an example of a troublesome global trend for Uber.

Amazon strengthens ties with French food retailer Casino: Reuters reports, Amazon and French retailer Casino are expanding their partnership, with Amazon installing pick-up lockers in Casino stores and making more of the French company’s products available on Amazon.

Last April I predicted that Amazon would buy a French retailer.

Luckin Coffee has filed to list publicly in the US as the loss-making company battles to dethrone Starbucks in China.

CULTURE

Beyday: HBO had been courting Beyoncé in an attempt to air Homecoming, a behind-the-scenes look at her Coachella performance. Then, Netflix made a counteroffer so large that HBO — which has spent decades cultivating a reputation as a distributor with staggering coffers — balked and had to pull out. We now have that number: Variety reports Netflix inked a $60 million deal with Beyoncé for three projects, meaning that Homecoming sold for $20 million. It’s good to be the queen.

The mystery of business casual: No one knows what shoes to wear to work. Silicon Valley has an answer. http://bit.ly/2KSCRAl

In defense of disorder: Humans love laws and seek predictability. But like our Universe, which thrives on entropy, we need disorder to flourish. http://bit.ly/2Vqpyvb