Caracal Daily | June 14
Giorgia Meloni, RNC, Offshoring, Françoise Hardy, Euro 2024, plus 1,000 more actionable insights.
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Happy Friday.
Here’s today’s Caracal Daily:
*** Globalization + Geopolitics ***
The G7 dwarfs, and Giorgia Meloni: It’s a bad sign for Western democracy when the Italian Prime Minister is the only popular leader. WSJ - Editorial
G7 strikes provisional deal on using Russian assets for $50B Ukraine loan: Politico reports that crucial details remain unsolved as diplomats fear that talks might drag on until the end of the year.
Biden must rally a reluctant G7 against the Russia-China axis: To bag a win in Italy, the US president should unite the G7 to crack down on China’s support for Russia’s war machine. Andreas Kluth
NATO to take tougher action on Russian spies, says Stoltenberg: Politico reports the defense alliance has seen “several examples of sabotage, of arson attempts, of cyberattacks, of disinformation,” the NATO chief said.
$486bn: The estimated cost of repairing the destruction wrought by the war in Ukraine as of last winter.
Nigel Farage’s Reform UK overtakes Conservatives in new opinion poll: YouGov finds rightwing party has surpassed Tories, in a first for a national survey.
+ Reform has climbed two percentage points to 19 percent, overtaking the Tories who remained on 18 percent, according to a YouGov poll, which put Labour on 37 percent.
+ YouGov also found a record 72 percent of poll respondents now have an unfavorable view of Rishi Sunak, the highest level the pollster has recorded since the PM entered No 10.
Have the Tories squandered their years in power? The Conservatives say they have created jobs, improved schools and empowered cities. Critics say they have run the country into the ground. FT
What was Macron thinking? G7 leaders lament his risky bet Bloomberg
Why France’s far right is spooking markets: RN’s economic programme could be twice as costly as tax cuts by former UK premier Liz Truss. FT
Reuters: China pushes rival Ukraine peace plan before Swiss summit, diplomats say
Li Qiang and China look to make up with Australia: The superpower is seeking to ease tensions with at least some of America’s allies. Economist
How worrying is the rapid rise of Chinese science? If America wants to maintain its lead, it should focus less on keeping China down. Economist
The new front in China’s cyber campaign against America: Big powers are preparing for wartime sabotage. Economist
Calls for China regime change are 'reckless': Kurt Campbell: Nikkei reports US deputy secretary of state says 'careful coexistence' needed with Beijing.
China training Global South in 'authoritarian' ways, report says: Nikkei reports tens of thousands take online seminars teaching Beijing's political ideology.
A new Chinese megaport in South America is rattling the US: The Peru project could speed trade with Asia and plant Beijing’s flag in Washington’s neighborhood. WSJ
Israel continued its offensive on Rafah, as the leader of the World Health Organisation said that a significant proportion of Gaza's population faced “famine-like conditions”.
Path to cease-fire deal possible, US says, as Israel targets Rafah anew: WP reports White House national security adviser Jake Sullivan said the United States was working “actively” to generate a path to a cease-fire deal following Hamas’s latest response.
Javier Milei finally lugs key reforms through Argentina’s Senate: The Economist reports markets celebrated the two bills’ passing, after protesters took to the streets of Buenos Aires.
Argentina protests: Milei defiant after spending cuts provoke violence: The Times reports riot police fired tear gas at protesters as a controversial austerity package was passed by one vote.
US tops China as ASEAN's largest export destination: Nikkei reports positions flip-flop for 1st time in 6 quarters, following supply chain shift.
US sub makes ‘routine’ visit to Gitmo amid Russian fleet worries: Politico reports the port call, which the US says was planned, coincides with the arrival of Russian warships in Havana this week.
*** US Politics + Elections ***
WP: Trump slams Justice Dept. in meeting with congressional Republicans
Trump’s private demand to Johnson: Help overturn my conviction: Politico reports as the former president heads to Capitol Hill, he is privately seeking legislative revenge.
CNBC: Trump floats eliminating US income tax and replacing it with tariffs on imports
+ “Like talking to your drunk uncle at the family reunion.” -- A source in the room describing Donald Trump’s speech to House Republicans, quoted by NOTUS.
Bloomberg: Trump tells CEOs he would cut corporate tax rate to 20%
+ Trump met with Dimon, other CEOs in private meeting Thursday
+ Biden chief of staff cites cooperation with business leaders
Republican National Committee prepares for a convention Trump may not attend: NBC News Republican officials are working to ensure that Trump will be able to address convention attendees from afar if he chooses to do so — or if he is forced to because of his legal troubles.
Joe Biden’s best chance to shake up the race: But in debating Donald Trump, he faces graver public doubts and a greater challenge than he did in 2020. Economist
Joe Biden is launching new ads blasting Donald Trump for Jan. 6 and targeting Latinos on inflation.
Gen Z influencers who supported Biden in 2020 turn against him: The Gaza war, lack of progress on climate change and a potential TikTok ban are spawning anti-Biden content — even among former supporters. WP
WP: Biden says he will not pardon Hunter or commute his sentence
Do we really need national political conventions? NY Mag
Supreme Court won’t restrict access to abortion pill: Politico reports the court said several anti-abortion doctors and groups do not have legal standing to challenge the FDA’s decisions.
Congress questions Microsoft boss after a ‘cascade’ of security errors: Microsoft President Brad Smith faced the the House Homeland Security Committee amid sharp criticism the company’s practices put government clients at risk. WP
US lawmakers take On Uber, Lyft rider surveillance in new bill: Bloomberg reports the proposed legislation from Republican Senator Marsha Blackburn of Tennessee and Democratic Senator Peter Welch of Vermont would require companies to give customers the option of being paired with a new driver if they don’t want to ride with a driver using a recording device.
Lack of federal R&D support challenges AI innovation, White House official warns: OSTP’s Arati Prabhakar said funding for national labs and other federal institutions needs to be better for the government to meet its AI goals. FedScoop
OpenAI expands lobbying team to influence regulation: FT reports the ChatGPT maker beefs up global affairs unit as politicians push for new laws that could constrain powerful AI models.
+ OpenAI now has 35 in-house lobbyists, and will have 50 by the end of the year.
OpenAI adds Trump-appointed former NSA director to its board: WP reports Paul M. Nakasone joins OpenAI’s board following a dramatic shakeup, as a tough regulatory environment pushes tech companies to board members with military expertise.
There is broad skepticism about the increased use of artificial intelligence (AI) in daily life: According to Pew, more than half of voters (55%) say this is bad for society, while 21% see this as a good thing (24% say it is neither good nor bad). There are only modest differences in these views between Trump supporters (59% say this is bad for society) and Biden supporters (51%).
Campaigns can now see what you watch on TV. It’s changing everything. Smart TVs that track what people watch and how they watch it give political campaigns a new trove of data to exploit, with little transparency on how it’s happening. NOTUS
*** Disruption + Innovation ***
Michigan surpasses California as the top cannabis market in the US by sales volume.
Bloomberg: Lana Del Rey gets pulled into the songwriters war against Spotify
Anthropic calls for AI red teaming to be standardized Fortune
A price war breaks out among China’s AI-model builders: It may stymie innovation. Economist
Bloomberg: Adobe jumps after results signal it’s part of AI boom
Bloomberg: Apple to ‘pay’ OpenAI for ChatGPT through distribution, not cash
Microsoft’s Nadella is building an AI empire. OpenAI was just the first step. After landing the deal that launched his company to the front of the artificial-intelligence race, the tech chief is spreading his bets. Will it be enough? WSJ
How AI may become the new offshoring: Companies must find a way to make the most of the new technology. John Thornhill
How Amazon blew Alexa’s shot to dominate AI, according to more than a dozen employees who worked on it Fortune
WP: Tesla shareholders re-approve Elon Musk’s controversial, $50 billion pay package
*** Culture ***
Pop culture icon Françoise Hardy has died: The singer died on June 11, at the age of 80. The star of the yéyé years leaves a legacy of masterpieces for French chanson. Le Monde
Françoise Hardy, the ultimate symbol of ‘French Girl’ style: The singer-songwriter, actress and fashion muse, who died this week, inspired obsession in her nonchalance. NYT
*** Sport ***
Today: Euro 2024 opening match: Germany vs Scotland @ 3:00 pm ET.
Americans buying more Euro 2024 tickets online than any other country: The Times reports football’s popularity is growing in the US, with celebrity endorsement raising the game’s profile with sports fans.
‘The illusion of effortlessness’: Why athlete Femke Bol could be the sublime star of the Paris Olympics: Such is the grace and talent of the Dutch hurdler and sprinter that she appears to have the ability to bend time to her will - as well as a rare beauty in her technique. Geoff Dyer
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | June 14
