Vladimir Putin, Mitt Romney, Shawn Fain, Dante Alighieri + James Dolan
ITK Daily is geopolitical business intelligence.
Happy Thursday.
Here’s today’s ITK Daily.
To be ITK, know this:
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Communications is an Art + Science: A lesson from former Disney CEO Bob Chapek
The job of the CEO of Disney is arguably the most complex in corporate America.
The Disney CEO must be a studio mogul and spot hit movies, balance theme park pricing that drives attendance, run a global news division, maximize intellectual property throughout the company's divisions, sell consumer goods, tangle with G20 government leaders, understand how sports media rights work, and decide on potential acquisition targets.
Full post here.
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Death toll in Libya hits 5,300 as aid trickles in: WP reports amid the soaring death toll, there have been some positive signs that Libya’s warring rival governments have put aside their differences to deal with the crisis.
Rescue teams race to recover bodies in Libya as flooding killed at least 5,100: Le Monde reports aid workers who managed to reach the city of Derna – worst hit by Sunday's deluge – described devastation, with thousands still missing and tens of thousands left homeless.
Floods in Libya: Civil war compounds devastation: DW reports climate change is partly responsible for the floods that have devastated Libya, but the legacy of civil war, political chaos, and corruption have exacerbated their impact. Observers say aid is desperately needed.
Germany’s travails are our problem too: The country’s ‘golden decade’ is over and without energy and other reforms the prospects for the continent are grim. Juliet Samuel
The battle for France's working class: Politicians are trying to appeal to working-class voters, who have either deserted the ballot box or are voting for far-right Marine Le Pen. They face a common deadline in their conquest: the 2027 presidential election. Le Monde
The plot to smash the Conservative Party: Either by starting a new party, or seeking to steer the existing Tories to the right, the populists are on the move. Robert Shrimsley
How celebrities’ favourite drug Ozempic made Denmark enormously rich: Novo Nordisk is now worth more than the whole country’s GDP. Charlotte Ivers goes to Copenhagen to find out if the Danes are living it large. The Times
Baltic states shut borders to Russia-registered cars: DW reports Estonia has joined Latvia and Lithuania in closing its borders to all vehicles registered in Russia. The ban, which came in response to updated EU guidelines on sanctions, could widen to include other countries.
Ukraine strikes headquarters of Russia’s Black Sea fleet: NYT reports the pre-dawn attack damaged two ships and triggered a large blaze at a naval shipyard in Crimea that plays a critical role in Russia’s war effort.
WP: Kim pledges to back Putin’s ‘sacred struggle’ during rare summit
Vladimir Putin accepts Kim's invitation to visit North Korea: DW reports Kim Jong Un invited the Russian president to North Korea after pledging his "full support" for Moscow during talks between the two leaders. The US warned this could mean weapons for Russia's war in Ukraine.
Putin and Kim find common ground in hostility toward the West: NYT reports President Vladimir Putin of Russia and Kim Jong-un, North Korea’s leader, trumpeted their ties in a summit, signaling a new era in their relationship.
Russia and North Korea hold a block party. Will China crash it? All of a sudden, Putin and Kim are best bros, and Xi may be getting FOMO. Jessica Karl
US to shift millions in military aid from Egypt to Taiwan: WSJ reports the US plans to redirect some of its foreign military financing allocated for Egypt to Taiwan over what it says is Egypt’s failure to make progress on human rights and other issues, according to US officials.
China’s military spending is much bigger than we thought: Revised figures based on US intelligence give an estimate of $700 billion a year instead of the official figure of $300 billion. James Stavridis
UK government spy scandals fuel calls for tougher stance on China: AFP reports Britain's MI5 security service warned the UK Conservative party that two would-be MPs could be Chinese spies, a minister said Wednesday, after news reports on Sunday revealed a parliamentary researcher was arrested in March on suspicion of spying for Beijing.
As OPEC’s energy influence wanes, China’s minerals clout rises: But geography and innovation mean cobalt, lithium, and copper can never be weaponized as effectively as oil and gas. Greg Ip
Modi wants to make India a chip-making superpower. Can he? India’s government, seizing on the world’s desire to reduce reliance on China, is offering billions to build an entire semiconductor ecosystem on vast empty plots. NYT
How could Ethiopia's dam dispute escalate? The Grand Ethiopian Renaissance Dam conflict has lasted for more than a decade without a resolution. Some experts warn that any further delays in settling the outstanding issues could have dire consequences. DW
US boosts Bahrain ties with new security agreement: AFP reports the United States on Wednesday signed an agreement with Bahrain to enhance defense and economic ties, a show of support for the Gulf monarchy that a decade ago faced an arms embargo.
Today: United in Science, the World Meteorological Organisation’s report on climate change and sustainable development goals, is presented in Geneva by Petteri Taalas, the WMO’s secretary-general.
WP: Maduro says Venezuela will send astronauts to moon in Chinese spaceship
Today: NASA's report on unidentified anomalous phenomena (UAP), commonly known as UFOs, is expected to be published, accompanied by a press conference at NASA HQ in Washington, DC.
Bloomberg: DeSantis says odds of Trump win if convicted ‘close to zero’
Trump lost the debate by not showing up: In a poll after the event, every candidate improved—except for the front-runner. Karl Rove
UT-SEN: Current Utah Senator Mitt Romney says he will not run for reelection.
Mitt Romney says he will not seek a second Senate term: In an interview with The Washington Post, the senator said most Republicans are drawn to a “populist demagogue message” and criticized both former president Donald Trump and President Biden. WP
UAW, automakers remain ‘far apart’ in contract talks: WSJ reports the union’s president said the United Auto Workers are preparing walkouts at select factories when contracts expire late Thursday.
WP: United Auto Workers to begin targeted strike Friday if no deal reached
UAW prepares for partial strike against Detroit automakers on Friday: NYT reports the union’s president, Shawn Fain, said negotiators were nowhere near an agreement and ruled out a contract extension while talks continued.
Standoff over electric vehicle workers poses risk for Biden: A looming auto industry strike could test President Biden’s commitment to making electric vehicles a source of well-paying union jobs. NYT
Even the transportation secretary can’t find a reliable EV charger: WSJ reports the US is launching a $100 million effort to upgrade public chargers that have become the scourge of drivers.
FT: EU moves against China’s electric-car makers in bid to shield own industry
EU confronts Chinese subsidies with electric car probe: AFP reports Brussels will investigate Chinese state subsidies for electric cars, the EU chief said Wednesday, vowing to defend Europe's industry from unfair competition.
Europe’s broadside against Chinese EVs plays with fire: European automakers should work on their own competitiveness rather than invite retaliation from China. Chris Bryant
It’s time to regulate AI like cars and drugs, top Microsoft exec says: Politico reports Microsoft President Brad Smith will join other tech leaders, including Elon Musk, Mark Zuckerberg, and Sam Altman, at an artificial intelligence forum today hosted by Senate Majority Leader Chuck Schumer.
CNBC: Elon Musk, Mark Zuckerberg, Bill Gates, and other tech leaders in closed Senate session about AI
+ Tech CEOs descended on Capitol Hill Wednesday to speak with senators about artificial intelligence as lawmakers consider how to craft guardrails for the powerful technology
+ Senate Majority Leader Chuck Schumer (DNY) hosted the panel of tech executives, labor and civil rights leaders as part of the Senate’s inaugural “AI Insight Forum”
+ Tesla and SpaceX CEO Elon Musk, Google CEO Sundar Pichai, Meta CEO Mark Zuckerberg, Microsoft CEO Satya Nadella, and OpenAI CEO Sam Altman were among those in attendance
Tech leaders including Musk, Zuckerberg call for government action on AI: WP reports after the six-hour session on Capitol Hill, there was little apparent consensus about what a congressional framework should look like to govern AI, as companies forge ahead amid a tense industry arms race.
In show of force, Silicon Valley titans pledge ‘getting this right’ with AI: Elon Musk, Sam Altman, Mark Zuckerberg, Sundar Pichai, and others discussed artificial intelligence with lawmakers. NYT
CNBC: Apple falls 1.2% after unveiling new iPhone
France bans sales of iPhone 12: Six questions to understand: According to the French National Frequencies Agency, the device generates radiation levels that exceed European standards. Apple has two weeks to come up with an update to solve the problem. Le Monde
The Times: TikTok hits the big time in Europe with huge revenue rise
CNBC: Arm prices IPO at $51 per share, valuing company at over $54 billion
+ Chip design company Arm priced its long-awaited initial public offering on Wednesday
+ Masayoshi Son’s SoftBank will own about 90% of the company after the offering
+ Arm customers, including Apple, Google, Nvidia, and Samsung, have said they will buy shares in the IPO
Bloomberg: Google trial spotlights internal dispute over algorithm vs data
Caesars paid ransom after suffering cyberattack: WSJ reports Caesars is the second major casino operator to be hit by hackers in recent weeks.
+ MBA Mortgage Demand dropped to the lowest level in 27 years
Bloomberg: Delta overhauls SkyMiles plan to tally only dollars spent, not miles flown
What would it take to make aviation green in the EU? DW reports most Europeans have heard of "flight shaming," and now the EU hopes green jet fuel will be the answer to aviation emissions. The bloc has set ambitious production targets, but not everyone is sold.
Bloomberg: Venice wants to combat ‘overtourism’ with new €5 entrance fee
CNBC: Former Starbucks CEO Howard Schultz steps down from coffee chain’s board
OTD: In 1321, Dante Alighieri died of malaria on his return to Ravenna, Italy, shortly after completing Paradiso, the third and final part of the Divine Comedy.
James Dolan’s $2.3 billion sphere is raising eyebrows—in a good way: The soon-to-open arena is already the weirdest draw in Vegas. It also just might be the future of entertainment. Bloomberg
Private equity plunges into US college sports with Learfield deal: FT reports Fortress, Charlesbank, and Clearlake take control of marketing group representing campus teams and athletes.
Senator subpoenas Saudi PIF subsidiary for PGA-LIV details: AFP reports US Senator Richard Blumenthal (D-CT) issued a subpoena Wednesday to a US subsidiary of Saudi Arabia's Public Investment Fund (PIF) to better understand the US PGA Tour-LIV Golf agreement and other investments.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal produces ITK Daily.
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