Argentina, Nikki Haley, Moonshot mentality, Gooey over dogs, Live sport, plus 1,000 more actionable insights.
ITK Daily is geopolitical business intelligence for communications pros.
Happy Wednesday.
Here’s today’s ITK Daily.
To be ITK, know this:
*** Globalization + Statecraft ***
Tom Standage’s ten trends to watch in 2024: A letter from the editor of The World Ahead. Economist
It’s time for the West and the rest to talk to each other as equals: We live in an interdependent world which faces many pressing common challenges. Kishore Mahbubani
Zelensky plea for Ukraine aid draws sympathy but doesn’t break impasse: WSJ reports many lawmakers of both parties support new aid for Kyiv, but Republicans are demanding a major crackdown on crossings at the southern US border as a condition for their votes.
Zelensky unable to win over Congress as Biden’s Ukraine package stalls: WP reports Ukrainian President Volodymyr Zelensky’s visit to Washington did little to move Republicans resisting further aid for Ukraine without a blockbuster deal on immigration reform.
$250bn: The value of direct investment that foreign investors have withdrawn from Russia since the invasion of Ukraine.
Russia has suffered staggeringly high losses, US report says: NYT reports the declassified intelligence assessment also found that Russia’s objective has been eroding Western support for Ukraine, the country it invaded.
‘We’ll be at each others’ throats’: Fiona Hill on what happens if Putin wins: The veteran Russia watcher is deeply alarmed as Washington reaches an inflection point on the war in Ukraine. Politico
How Russian intelligence services have taken over Wagner's operations in Africa: An investigation reveals the names and photographs of the new Russian officials responsible for coordinating Moscow's mission in Mali, the Central African Republic, and Burkina Faso. Le Monde
Israel begins pumping seawater into Hamas’s Gaza tunnels: WSJ reports early effort to flood tunnels is one of several techniques aimed at destroying network that underpins Hamas’s operations.
WP: Biden says ‘indiscriminate bombing’ in Gaza is costing Israel support
Biden warns Israel it is ‘losing support’ over war: NYT reports the president’s words exposed a widening rift between his administration and that of Prime Minister Benjamin Netanyahu as casualties rise in Gaza.
UN calls for immediate ceasefire in Gaza; Biden warns Israel is losing support: TST reports after dire warnings by UN officials about a deepening humanitarian crisis in Gaza, the 193-member UN General Assembly passed a resolution calling for a ceasefire with 153 countries voting in favor and 23 abstaining
Netanyahu may not last, Biden and aides increasingly believe: Politico reports the Israeli prime minister’s political obituary has been written before. But U.S. officials are already gauging potential successors.
Japan plans 10-year tax breaks for EV and chip production: Nikkei reports incentives for intellectual property to last 7 years under proposed tax reforms.
Flashpoint is South China Sea, not Taiwan: Philippine envoy to US: Romualdez calls China's Xi 'evasive' on tensions, urges multilateral patrols. Nikkei
EU’s new AI Act risks hampering innovation, warns Emmanuel Macron: French president argues landmark rules may leave European tech companies lagging rivals in US, UK, and China. FT
Catalonia will pursue its right to a referendum: Our new relationship with Spain means that now is the time to launch a fresh round of negotiations. Pere Aragonès
Sunak discovers that politics isn’t like business: Like so many politicians from the private sector, the UK prime minister doesn’t understand fanatics. Janan Ganesh
Prosecutors in Germany accused 27 people of conspiring to violently overthrow the government: Some were arrested last December in a federal raid that brought to light the far-right plot to install “Prince” Heinrich XIII of Reuss as the country’s leader.
Argentina sharply devalues peso to tame inflation: WSJ reports President Javier Milei, who pledged economic shock therapy, is also cutting back government ministries and energy subsidies while halting public works projects.
Argentina’s Milei devalues peso by 54% in first batch of shock measures: Bloomberg reports the new administration lets official peso slide to 800 per dollar.
‘I don’t want to be Venezuelan’: Guyana region on edge over annexation threat: In the disputed territory of Essequibo, fears of invasion mount following Caracas referendum. FT
*** ITK Live ***
ITK WAS | School + Salon Dinner
Executive education and global economic training to start the new year at the ITK WAS | School + Salon Dinner.
Downtown Washington, DC
January 11, 2024
Starting at 1:30 pm ET
This event will explore the interconnected global business environment, focusing on business issues at the intersection of globalization, disruption, and politics.
ITK WAS will feature three 45-minute lectures and a salon dinner.
Limited to 12 sports, participants will gain improved geopolitical intelligence, communications confidence, and increased situational awareness.
For details and tickets, click here.
*** Politics + Elections ***
Donald Trump critic Chris Sununu backs Nikki Haley for US president: FT reports New Hampshire governor’s endorsement boosts ex-UN ambassador in Republican primary.
+ America’s annual inflation rate was 3.1% in November, down slightly from 3.2% in October, partly because of falling fuel costs.
*** Disruption + Innovation ***
Why the US needs a moonshot mentality for AI—led by the public sector: Artificial intelligence is too important to be left entirely in the hands of the big tech companies. Fei-Fei Li + John Etchemendy
The AI rivals hoping to put Google search out of business: ChatGPT and Perplexity are fighting for search engine supremacy. The Times
France's unicorn start-up Mistral AI embodies its artificial intelligence hopes: With prestigious researchers, strong political backing, and €385 million in raised funds, this open-source start-up aims to develop language processing models capable of rivaling OpenAI, Google, and Meta. Le Monde
The great nanometer chip race: Semiconductors can't get much smaller. That could be good news for China. Nikkei
Apple, Google get billions from their app stores. That’s now under threat. WSJ reports Google’s court loss and increased regulatory scrutiny could derail software profit machines for the tech giants.
Google’s antitrust loss to Epic could preview its legal fate in 2024: A trio of antitrust cases on the docket threaten to reshape Google’s business and sap its profits. NYT
WSJ: Netflix releases full viewership data for first time
Bloomberg: Musk’s X 2023 ad sales projected to slump to about $2.5 billion
Singapore food brands expand to the US as appetite for local flavors grows TST
Kirkland & Ellis: Is it party over for the world’s most profitable law firm? A boom in private equity meant bumper pay and rapid promotion for its partners, but competition is growing as dealmaking slows. FT
*** Culture ***
Youngstown, Ohio, ranks as the most affordable place to retire in the US, according to US News and World Report’s November study.
American universities face a reckoning over academic freedom: Their treatment of antisemitism is exposing wider inconsistencies when it comes to free speech. Economist
Indians are going gooey over dogs: The nascent Indian pet-care industry is growing fast. Economist
*** Sport ***
Live sport is still a money spinner. But how long can it last? The new £6.7bn deal for rights to live Premier League matches shows that the sky is still the limit. But for how long can the supremacy last in an era of streaming and shorter attention spans? The Times
There are reasons for Capitals and Wizards to move. They’re all sad. Barry Svrluga
+ @TheArtist_MBS: @MayorBowser's office announces legislation with the backing of the full D.C. Council to "support a complete renovation and modernization of the Capital One Arena" Includes $500 million for renovations over three-year period and a ground lease extension until the end of 2052.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
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