ITK Daily | March 15
Global AI Regulations, Commercial Real Estate, Adam Neumann, Camille Cottin, Oakland A’s, plus 1,000 more actionable insights.
ITK Daily is geopolitical business news + intelligence for comms pros.
Always Be Communicating.
Happy Friday.
Here’s today’s ITK Daily:
*** Globalization + Geopolitics ***
Oil climbed to a fresh 2024 high as the International Energy Agency warned of a supply deficit throughout the year.
Top Democrat Chuck Schumer calls for new Israel election: BBC reports US Senate majority leader Chuck Schumer has called for new elections in Israel, accusing Prime Minister Benjamin Netanyahu of prioritizing his "political survival" above the country.
FT: US and Israel trade barbs as Senate leader calls for Netanyahu’s exit
CGTN: China concludes selection of fourth batch of astronauts for future space missions
40%: The share of China’s GDP growth created by clean-energy industries last year.
Bloomberg: TikTok ban-or-divest bill is going nowhere fast in Senate
CNBC: The US wants ByteDance to sell TikTok. China is almost certainly going to refuse
China hits out at US push to ban TikTok as Steven Mnuchin plots bid: FT reports Beijing urges Washington to ‘stop unfairly suppressing foreign companies.’
Explain to me why China has to control TikTok: If it’s just a great app, why can’t somebody else run it? John Chait
US Ambassador Nicholas Burns to China told Bloomberg TV that he found Beijing’s objection to a potential ban on TikTok in the US “supremely ironic,” given bans on platforms including X and Facebook in the Asian nation.
Steven Mnuchin, former Treasury Secretary for Donald Trump, is targeting a purchase of TikTok from its Chinese parent company.
Sens. Mark Warner (D-VA) + Marco Rubio (R-FL) endorsed the House legislation after the vote, despite having their own legislation to address national security concerns.
Meet Jeff Yass, the billionaire ByteDance investor donating to Republicans who flipped against the TikTok ban: FC reports Donald Trump and Vivek Ramaswamy have at least two things in common: They’ve both done an abrupt about-face on TikTok, and they’re both entangled with Yass.
What TikTok tells us about the paradox of markets right now: From geopolitical risk to capricious US decision-making, investors face uncertain times. Gillian Tett
Reuters: Italy regulator fines TikTok $11 mln over content checks
Putin digs in to divide world order while he conquers at home: Russia’s longest-serving leader since Stalin is all but certain to win another term as president this weekend just as the war in Ukraine turns in his favor. Bloomberg
Voting starts in Russian presidential election as Ukraine launches border attacks: AFP reports Russia began voting on Friday in an election set to prolong President Vladimir Putin's rule by six more years, as Kyiv branded the vote a "farce" and launched a barrage of deadly attacks on border regions.
Ella Pamfilova, Putin's devoted chief election official: Le Monde reports Ella Pamfilova, who was long an adversary of the Russian president one, is now helping secure re-election, as the head of Russia's electoral commission.
Lithuania warns against 'self-imposed red lines' on Russia: In a DW interview, the Lithuanian prime minister called on Ukraine's allies to maintain a credible deterrent to Russia. She said an investigation is ongoing into a recent attack on a Russian dissident in Vilnius.
Bloomberg: Macron warns Europe will be next if Russia wins in Ukraine
Macron says Russian victory in Ukraine means Europe 'would not have security': Le Monde reports the French president spoke in a live interview on national television on Wednesday to outline future support for Ukraine.
Fast-fashion regulations: France’s lower house of parliament approved a draft law that limits fast-fashion companies. The legislation would impose an environmental charge on cheap garments and make it difficult for brands to advertise.
Why Taiwan is building a satellite network without Elon Musk: The island democracy urgently needs an internet backup. Mr. Musk’s total control over his Starlink service, which dominates the market, left Taiwan wary. NYT
The geopolitics of steel: President Joe Biden said US Steel should retain American ownership, and Cleveland-Cliffs signaled that it’s weighing a bid if Nippon’s falls through.
Bloomberg: Sunak’s woes prompt ministers to question if he can hang on
+ UK premier suffers series of flaps that eroded Tory confidence
+ Senior ministers hold private talks on having caretaker leader
+ Contenders from different factions have emerged, including Business Secretary Kemi Badenoch on the right, and both House of Commons Leader Penny Mordaunt and Defense Secretary Grant Shapps from closer to the center
+ The UK needs to hold a general election vote by next January.
The UK's Advanced Research and Invention Agency will hand out more than $50 million to researchers in a push to cut AI computing costs by 99.9%.
Snap poll in Catalonia rocks Pedro Sánchez’s plans in Spain: FT reports the socialist premier forced to roll over budget as MPs approve amnesty bill for region’s separatists.
Reuters: Internet outage intensifies in West and Central Africa
Bloomberg: Milei’s decree suffers major setback after repeal in Senate
Argentina’s Senate rejects Javier Milei’s deregulation push: FT reports Senators turn down libertarian president’s sweeping emergency decree, calling it unconstitutional.
Canada evacuates some embassy staff in Haiti as violence engulfs capital: CBC reports the GAC blames the 'volatility of the security situation.'
Bloomberg: US pushes for global AI regulations at UN
+ A draft resolution urges ‘responsible and inclusive’ AI
+ Push at the UN contrasts with the lack of US regulations
*** US Politics + Elections ***
Judge rejects bid by Trump to dismiss classified documents case: AFP reports a federal judge on Thursday rejected a bid by Donald Trump to throw out out his classified documents criminal case, and appeared skeptical during hours of arguments of a separate effort to scuttle the prosecution ahead of trial.
Latinos, shifting toward Trump, land at the center of the 2024 campaign: NYT reports Donald Trump’s rising support has turned many Latino voters into swing voters.
Trump Treasury Secretary 2.0: Potential candidates for Treasury Secretary should Donald Trump win in November reportedly include the hedge fund mogul John Paulson, the former US trade representative Bob Lighthizer, and the billionaire financier Jeff Yass.
Bernie Sanders wants to establish a 4-day workweek for all Americans: FC reports at a hearing on Thursday, Sanders was joined by supporters of a 4-day workweek, including United Auto Workers President Shawn Fain.
Pennsylvania could be the first state to make polluting power plants pay for their emissions: FC reports Governor Shapiro’s proposal would allow Pennsylvania to be a player in the clean energy economy, cut greenhouse gas emissions, and lower electricity bills.
New York City has lost a net total of 546,164 residents since April 2020, despite a surge of new international arrivals, US Census data shows.
Cities face cutbacks as commercial real estate prices tumble: Lost tax revenue fuels concerns over an urban ‘doom loop.’ NYT
DS: Craig Martell, the Pentagon’s first-ever Chief Digital and AI Officer, to depart in April
Radha Plumb named new Pentagon CDAO as Martell exits in April: BD reports Plumb, the current deputy under secretary of defense for acquisition and sustainment, has held high-powered jobs from Google to the National Security Council.
*** Disruption + Innovation ***
IPR: Apple’s Vision Pro headset is likely to face trademark issues in China as Huawei has already registered the name.
Nvidia is expected to unveil its next-gen AI processor, the B100, during its annual GTC developer conference on Monday, March 18.
SoftBank is exploring an investment in French AI startup Mistral.
Oracle adds generative AI features to finance and supply chain software.
+ "With AI, it's this big feeding frenzy for data, and these companies are just gathering up any personal data they can find on the internet," George Washington University law professor Daniel J. Solove told Axios. "A lot of the AI problems are exacerbations of existing problems that law has not dealt with well."
Agility Robotics has announced its first fleet management platform.
Figure 01 is an OpenAI-powered dextrous robot that can have full conversations, per a demonstration video released yesterday.
Bloombeg: Apple buys Canadian AI startup as it races to add features
+ Canada’s DarwinAI was quietly acquired earlier this year
+ The iPhone maker has promised a big AI announcement in 2024
CNBC: Morgan Stanley names a head of artificial intelligence as Wall Street leans into AI
+ The bank is elevating Jeff McMillan, a veteran of the New York-based bank, to help guide its implementation of AI across the firm, according to a memo sent Thursday.
+ Morgan Stanley became the first major Wall Street firm to create a solution for employees based on OpenAI’s GPT-4, a project overseen by McMillan.
The Verge: Microsoft launches Copilot Pro worldwide with a one-month free trial
AI and the metaverse could drive the ‘next tsunami of data,’ says Verizon’s consumer chief: Speaking at the Fast Company Grill at SXSW, Sowmyanarayan Sampath said big changes are underway, but a balance in our use of technology is still important.
Superfluous people vs AI: what the jobs revolution might look like: The spectre of technological unemployment is causing fear — but we should treat the coming changes as an opportunity. John Thornhill
Gerald M. Levin, Time Warner chief in a merger debacle, dies at 84: NYT reports he was called a visionary in cable television, but his foray into the world of the internet, in a marriage with AOL, proved disastrous.
Reuters: Self-proclaimed bitcoin inventor is not 'Satoshi Nakamoto', UK judge rules
Reuters: MicroStrategy issues second convertible debt this month to buy more bitcoin
Stripe said it processed more than $1 trillion in transactions last year.
Temu quickly became the second-most popular US shopping app, overtaking Shein in just six months, driven by aggressive advertising.
+ Over 90% of internet users are streaming music in the US.
SpaceX’s Starship rocket reached low orbit before it was lost while returning to Earth, an improvement after the first two missions ended quickly in explosions.
Zombie car factories on the rise in China as buyers opt for EVs: FT reports plants geared to producing internal combustion engines increasingly mothballed as foreign groups lose market share.
Eli Lilly is collaborating with Amazon Pharmacy to distribute certain prescription drugs.
Under Armour reinstates founder Kevin Plank as CEO.
The Yeezy scandal is prompting Adidas to pour $150 million into anti-hate groups: FC reports Adidas has made donations to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.
Bloomberg: Adam Neumann’s Flow plans apartments, offices in downtown Miami
+ Plans also include retail space in city’s downtown area
+ Concord estimates the projects could be worth $300 million
Shell weakens 2030 climate targets: DW reports British multinational energy giant Shell has slightly diluted its 2030 carbon emission target, but kept its net-zero by 2050 emissions pledge.
Fortune: Liquid Death is turning water into Gen Z’s beer by selling the ‘healthiest thing you can drink’
*** Culture ***
Bloomberg: Michelin unveils 2024 list of starred restaurants in Hong Kong, Macau
+ Chinese restaurant The Eight was demoted from three stars, while Hong Kong’s Noi was upgraded to two.
As 'Where's Kate' conspiracy theories run wild, here's how the story became such a royal mess: In an information vacuum, people have created their own theories about the Princess of Wales. CBC
Getting to the bottom of the Kate Middleton “November Photo” theory: Was the edited Mother’s Day picture actually taken last fall? I tried to find out. NY Mag
Camille Cottin to host Cannes Film Festival: AFP reports French actor Camille Cottin, star of Netflix hit "Call My Agent", was named Thursday as host of the 77th Cannes Film Festival in May.
Fortune: Yale targeted by Connecticut bill that would ban legacy admissions statewide
*** Sport ***
More ski resorts worldwide to face low snow levels — study: DW reports One in eight ski resorts are at risk to be without natural snow by the end of the century, according to a new study by Germany's University of Bayreuth.
AFP: NFL Lions agree to contract extension with head coach Campbell
Watching sports is a mess. Can a new streaming service fix that? Sports fans weigh merits of future streaming alliance between Fox, Warner Bros. and ESPN. ‘Since I cut the cord, I’ve been waiting for this.’ WSJ
The Oakland A’s have plans for a new home in Vegas. Now they need a plan to get there. The club has released renderings for its proposed new home in Las Vegas, but plans for what to do and where to play in the interim are surprisingly light on details. WSJ
Enjoy the ride + plan accordingly.
-Marc
ITK Daily | March 15
