ITK Daily | April 23

ITK Daily | April 23

Lawrence Wong, The Defendant, Meta, Venice Biennale, Cuba, plus 1,000 more actionable insights.

ITK Daily is geopolitical business news + intelligence for comms pros.

Always Be Communicating.

Happy Tuesday.

Here’s today’s ITK Daily:

*** Globalization + Geopolitics ***

Lawrence Wong will be only the fourth PM in Singapore’s history: The next leader promises continuity and change. Economist

Lawrence Wong, Singapore's next PM, seeks growth in 'troubled world': From falling births to regional hub race, challenges will mount after May handover. Nikkei

Industrial policy won't bring about a 'Future Made in Australia': Structural reform to reduce costs and improve worker skills would be better bet. Satyajit Das

How Chinese networks clean dirty money on a vast scale: These shadowy “banks” are becoming the financiers of choice for transnational criminal gangs. Economist

UK police charge two men with spying for China including MP researcher: CNA reports British police charged two men with spying for China, including one reported to have worked as a researcher in Britain's parliament for a prominent lawmaker in the governing Conservative Party.

China’s military elevates information, space, and cyber operations in biggest defence shakeup in 9 years: The restructuring comes amid simmering Sino-US tensions, with cyber warfare emerging as a recent frontier. CNA

China military's biggest shakeup in 9 years adds info, cyber, space units: Control of information is vital to 'winning a modern war,' Xi Jinping says. Nikkei

Trump continues his reversal on TikTok, accusing Biden of wanting to ban it: WP reports Trump worked to force a sale of TikTok when he was in the White House. On Monday he called Biden ‘responsible for banning TikTok.’

Poland is ready to host nuclear weapons for NATO: The Times reports as Russia deploys missiles in Belarus, President Duda declares his nation’s willingness to answer.

Europe—but Not NATO—should send troops to Ukraine: To halt Russia’s advance, Kyiv needs more boots on the ground. Alex Crowther + Jahara Matisek + Phillips P. O’Brien

Nasdaq signs technical assistance agreement with Ukraine, USAID says: Reuters reports the exchange operator Nasdaq has signed a partnership agreement with the Ukrainian government aimed at supporting the development of Ukrainian capital markets, the US Agency for International Development said.

EU could suspend TikTok Lite over safety risks to children: CNA reports the European Union demanded TikTok provide more information about a new app that pays users to watch videos and warned that it could order the video-sharing platform to suspend addictive features that pose a risk to kids.

UK hopes to send asylum seekers to live in Rwanda by summer: A controversial policy to deter migrants arriving illegally is taking shape. WSJ

Britain’s Sunak vows to deport asylum seekers to Rwanda in 10-12 weeks: WP reports the UK Parliament passes legislation to allow the flights to depart as Sunak tries to uphold a campaign promise to ‘stop the boats.’

Rwanda bill passes: Detention of migrants can start in days: The Times reports the legislation has now formally passed after the Lords decided not to table any further amendments.

UK expected to appoint national security adviser as ambassador to US: Opposition Labour party vows to rethink the appointment if it wins the general election. FT

Sadly, Liz Truss’s world view is no laughing matter: Short-lived PM is unlikely to return to power but her brand of revolutionary conservatism is gathering pace worldwide. William Hague

French far right is out to conquer older voters: Particularly active during mid-term elections, elderly electors have been the focus of the far-right Rassemblement National party's strategy. To win them over, they have stepped up efforts to reassure and show their seriousness. Le Monde

Goldman Sachs moves senior banker to Paris in post-Brexit revamp: FT reports the head of financial institutions group for Europe relocates at sensitive time for its operations on the continent.

Low-cost flights are increasing France's carbon footprint: Le Monde reports according to a study by the NGO Transport & Environment, the sharp increase in low-cost airline activity since 2022 is responsible for the current increase in greenhouse gas emissions in the French airline sector.

Canadian uranium is strategic for French nuclear power plants: Le Monde reports the Cigar Lake mine in the heart of Saskatchewan is one of the world's richest in uranium. The McClean Lake mill, which processes it, is operated by a subsidiary of France's Orano and sells 40% of its production to French multinational electric utility company, EDF.

The major stimulus plan that could change Italy: With almost €200 billion in loans and grants, Rome has received the lion's share of 'Next Generation EU,' the European aid package set up following the COVID-19 pandemic. This could boost growth, particularly by financing infrastructure, provided it is well spent. Le Monde

Northern Africa’s political shake-up: Russia and the US are competing for influence in African countries undergoing radical reorganization. Roger Kaplan

Immigration: 'Some Canadians are beginning to question the multiculturalist model': Sociologist Christian Bergeron says the intense debate surrounding the recent influx of immigrants is shaking one of the pillars of Canadian society. Le Monde

Why are European wines often cheaper than Canadian ones? Centuries of production — and regulation: International winemakers can sell at lower prices, experts say, but there are affordable local vinos to enjoy. CBC

For Biden, aid package provides a welcome boost on the world stage: The congressional breakthrough on security assistance to Ukraine and Israel will let the president finally deliver arms to match his words. But it could be only a temporary respite. NYT

The US — and its troops abroad — are vulnerable to low-flying drones Senators Jack Reed (D-RI) + Roger Wicker (R-MS)

US Air Force confirms first successful AI dogfight: An autonomously controlled aircraft faced off against a human pilot in a test last year. The Verge

The Pentagon is spending billions on Big Tech and Silicon Valley startups as it goes all-in on AI: The Department of Defense and U.S. intelligence communities awarded $53 billion in contracts to major tech firms over a three-year period. Quartz

America’s trust in its institutions has collapsed: What are the consequences? Economist

***  US Politics + Elections ***

NY Mag: A porn-star payoff or a threat to democracy?

FT: Trump trial opens with allegations he tried to ‘corrupt’ 2016 US election

Donald Trump the defendant looks tired, cold and ‘all alone’: The Tims reports the former president did not appear like his usual self at the first day of his trial in New York, and was joined only by people he had paid to be there.

An unprecedented trial opens with two visions of Trump: NYT reports the prosecution’s opening statement sketched a seamy scheme meant to further the election of Donald J. Trump. His lawyer said the government’s case is merely “34 pieces of paper.”

The circus Trump wanted outside his trial hasn’t arrived: NYT reports with support from demonstrators in Lower Manhattan spotty so far, Donald Trump issued a call to “rally behind MAGA,” and suggested the poor turnout was a result of a plot against his supporters.

In defense of Trump: Todd Blanche is a surprisingly competent lawyer. And he’s on track to keep his client out of jail until the election. NY Mag

+ Pro-Trump groups have spent over $76 million on legal fees since January 2023.

Can Biden make Trump seem like Mitt Romney? NYT reports the president may be making a similar case against his wealthy rival that Obama made against the GOP nominee in 2012.

AJC: Biden to speak at Morehouse College commencement

Biden leads Trump nationally: A new Marist poll finds that Joe Biden leads Donald Trump nationally among registered voters, 51% to 48%.

House Republican infighting getting worse after foreign aid vote: WP reports one GOP lawmaker said he serves with “some real scumbags,” while others fought over Speaker Mike Johnson’s strategy for bringing up the aid package.

Bloomberg: US sues to block $8.5 billion union of Coach, Michael Kors

+ FTC alleges Tapestry-Capri deal would harm luxury goods market

+ Fashion accessories tie-up sought to compete with EU luxury

FTC sues to block luxury fashion merger of Tapestry and Capri Holdings: WP reports federal regulators claim the union would lead to higher prices for US consumers and worsen workplace conditions for employees.

California wants Big Tech to pay for news. Google is fighting back. Google blocked news links for some California web users as it protests a bill that would force it to make payments to news publishers. WP

Commerce Secretary Gina Raimondo on US microchip production, blocking of sales to China, Russia: What does the secretary of commerce do? Until now, mainly promote US businesses abroad. It had not been a high-profile job til Gina Raimondo turned the second-tier agency into a center of job creation, manufacturing, and national security. 60 Minutes

The Commerce Department is beefing up its AI Safety Institute with key hires: Axios reports Paul Christiano will be head of AI safety, designing and conducting tests of the most cutting-edge models that pose national security concerns. Mara Quintero Campbell will be chief of staff and acting chief operating officer.

First major attempts to regulate AI face headwinds from all sides: Artificial intelligence is helping decide which Americans get the job interview, the apartment, even medical care, but the first major proposals to reign in bias in AI decision making are facing headwinds from every direction. AP

AI regulation is in the works, with strong consumer support: The recent explosion of AI has resulted in ongoing debate regarding its benefits and risks. In a prior report, S&P Global Market Intelligence explored how consumers largely recognized practical uses for more evolved AI tools, but their concerns over its potential for job replacement, fraud and misuse — and even to gain sentience — were still highly prevalent. The US population appears to have moved toward a consensus on the need for regulations regarding AI. S&P Global Market Intelligence

Tech leaders once cried for AI regulation. Now the message is ‘slow down’: Any dreams of a sweeping AI bill out of Congress are basically a hallucination. Wired

Car dealership owner turned politician goes back to college to study AI, machine learning: ‘There won’t be robots with red eyes coming after us any time soon’: Don Beyer’s car dealerships were among the first in the US to set up a website. As a representative, the Virginia Democrat leads a bipartisan group focused on promoting fusion energy. He reads books about geometry for fun. Fortune

*** Disruption + Innovation ***

AI is having a real pop culture moment: Cadbury 5 Star envisions a future where AI works and humans do nothing: Cadbury 5 Star has rolled out a campaign 'nothing university', where it advocates for work-life balance and encourages the adoption of AI. See the ad here.

AI’s original sin: A NYT investigation shows how the country’s biggest technology companies, as they raced to build powerful new artificial intelligence systems, bent and broke the rules from the start. NYT (Pod)

AI-generated junk is flooding Etsy: Coloring books, stickers, mugs, and T-shirts are being pumped out by AI-assisted hustlers. The Atlantic

Axios sees AI coming, and shifts its strategy: “The premium for people who can tell you things you do not know will only grow in importance, and no machine will do that,” says Jim VandeHei, CEO of Axios. NYT

Generative AI arrives in the gene editing world of CRISPR: Much as ChatGPT generates poetry, a new AI system devises blueprints for microscopic mechanisms that can edit your DNA. NYT

Oxford shuts down institute run by Elon Musk-backed philosopher: Nick Bostrom’s Future of Humanity Institute closed this week in what Swedish-born philosopher says was ‘death by bureaucracy.’ Guardian

AI is about to make the online child sex abuse problem much worse: A flood of AI-generated child pornography threatens to overwhelm the nation’s creaky reporting system for child exploitation, Stanford report warns. WP

Here come the anti-woke AIs: With Meta releasing its latest open-source AI, a new generation of models that lack guardrails stands to become more powerful than ever. They come with a host of pitfalls. Christopher Mims

Meta’s battle with ChatGPT begins now: The Verge reports Meta’s AI assistant is being put everywhere across Instagram, WhatsApp, and Facebook. Meanwhile, the company’s next major AI model, Llama 3, has arrived.

Generative AI is changing the hiring calculus at these companies: With price tags of up to millions a year for a single use case, firms hope AI can deliver savings through reduced hiring needs. WSJ

How people are really using GenAI Marc Zao-Sanders

Disney, Ford, Microsoft and the age of the quasi-merger: How to build a global business empire in the 21st century. Economist

LVMH accounts for bigger share of French exports than agricultural sector: FT reports the company’s products sold abroad last year totalled €23.5bn, underscoring importance of country’s luxury sector. 

Elon Musk wouldn’t be the first car company founder to flame out Peter Coy

+ At its peak, TSLA was worth $1.29 trillion; today, it is $448.9 billion.

Kia looks to double hybrid sales by 2028 amid EV headwinds: Nikkei reports the South Korean automaker plans $28bn in R&D to cover lost ground.

Brightline West, a $12 billion high-speed rail project connecting Las Vegas to Southern California, broke ground Monday, the latest step in bringing high-speed rail to the US.

Express files for bankruptcy as consumers shift to casual fashion: WP reports the company, which owns Bonobos and UpWest, will close 95 of its namesake shops and all 10 UpWest stores.

Billionaire Pinaults fight to pull Gucci off the discount rack: Some investors and analysts are questioning whether CEO François-Henri Pinault is the right man to overhaul Gucci’s parent Kering at this critical juncture. Bloomberg

The wrong trousers? Retail has a new solution to the returns problem: Online retailers are keeping quiet about ‘returnless refunds’ but they are becoming more common. Joe Miller

*** Culture ***

The Venice Biennale, world’s preeminent art event, is alive again: The 60th biannual art gathering suggests renewed determination in the face of world conflict and despair. WP

Jerry Seinfeld says movies are over. Here’s why he made one anyway: The billionaire comedian could be doing anything with his time and talent, so why did he direct a movie about Pop-Tarts? In a candid conversation, Seinfeld explains all that—as well as his role in making that instantly-legendary Curb finale, and his sense that people misunderstood his own show’s notorious ending. GQ

*** Sport ***

US eyes 'most important decade' for sports: Reuters reports the US has the opportunity to promote its values at home and abroad over the next 10 years as it hosts a slew of major international sporting events, Olympic and government officials said. The US will host Copa America this year, the World Cup with Canada and Mexico in 2026, the Los Angeles Olympics in 2028, and possibly the Winter Olympics in Utah in 2034, among other competitions.

Cuba: Land of boxing and the French team's training ground: The French boxing team spent two weeks on the Caribbean island for a training camp, where they had the chance to compete against some of the world's best amateur boxers. Le Monde

The Paris Olympics’ one sure thing: Cyberattacks: “We will be attacked,” the official responsible for fending off cyberthreats said. To prepare, organizers have been hosting war games and paying “bug bounties” to hackers. NYT

How AI could transform baseball forever Josh Tyrangiel

Bloomberg: Kansas City women’s soccer plans $800 million stadium district

+ Expansion follows voters’ rejection of tax for Chiefs, Royals

+ The district will include retail, restaurants, and apartments

José Mourinho: Manchester United still have players I wanted out: The Times reports the former boss at Old Trafford, who is seeking a return to management, also believes Erik ten Hag has received far better support than he did from Ed Woodward.

The stick-wielding beast of college sports awakens: Johns Hopkins lacrosse is back: The fabled Baltimore program, amid a revival, hosts nemesis Maryland on Saturday for the Big Ten title. Jason Gay

Enjoy the ride + plan accordingly.

-Marc