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ITK Daily is geopolitical business intelligence.
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Here’s today’s ITK Daily.
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Ukraine faces a long war. A change of course is needed: Its backers should pray for a speedy victory—but plan for a long struggle. Economist
Ukraine sends first armored vehicles through breach in Russian defenses: WSJ reports Kyiv’s military seeks to expand the limited breakthrough in the southeast at a pivotal moment in its counteroffensive.
Zelensky seeks to persuade more skeptical West that Ukraine war is worth the aid: WSJ reports Ukrainian leader, visiting Washington, faces concerns about what GOP group calls Biden’s ‘open-ended commitment.’
Politico: Volodymyr Zelenskyy made the case on Capitol Hill for additional US aid to Ukraine. But skeptics appeared unmoved.
+ Speaker Kevin McCarthy described the meeting as good but was noncommittal on more aid.
WP: Zelensky arrives at the White House as Biden pushes for additional aid to Ukraine
Russia launched its biggest missile attack in weeks on Kyiv and across Ukraine, wounding at least 18 people and damaging energy facilities, Ukrainian authorities said.
+ Poland is no longer arming Ukraine as it is focusing on building up its own stocks of weapons, the prime minister said.
King Charles proposes new France-UK Entente to tackle climate change: Le Monde reports the British king delivered a keynote address to the French Sénat, the first time a member of the British Royal Family has spoken from the Sénat Chamber.
+ The Bank of England held interest rates at 5.25% after a run of 14 consecutive hikes.
Macron attending the Pope's mass in Marseille is a breach of secularism: By attending Pope Francis' mass on September 23, Macron would unjustifiably breach the 1905 law on the separation of the church and government. Jean-Noël Jeanneney
Sudan coup leader says war could spread: DW reports Sudan's army chief, General Abdel Fattah al-Burhan, appealed to the global community to counter supporters of the army's rival Rapid Support Forces.
Japan to launch special investment zones where only English is needed: PM Kishida unveils initiatives to attract global talent in asset management. Nikkei
China welcomes Assad as it strengthens ties with the Arab world: The Times reports Beijing is presenting itself as a stabilizing force in the Middle East, unlike the ‘war-mongering’ of the United States.
+ Syrian President Bashar al-Assad has arrived in China's eastern city of Hangzhou, kicking off his first visit to the Asian nation since 2004 as he makes further strides to end more than a decade of diplomatic isolation amid Western sanctions.
US revives Cold War submarine spy program to counter China Reuters
China has scooped up human DNA from nations around the world, spurring fears of a genetic arms race: China has announced plans to become the world’s leader in biotechnology by 2035, and it regards genetic information as a crucial ingredient in a scientific revolution that could produce thousands of new drugs and cures. WP
If India ordered a murder in Canada, there must be consequences: Western countries have for too long acquiesced to the Indian government’s abuses. Economist
The Times: India suspends visa services for Canadian citizens
AFP: New Delhi to reduce Canadian diplomatic staff in India as row escalates
AFP: After China, India crisis tests 'naive' Canadian diplomacy
Why India worries about the push for a separate Sikh state Karishma Vaswani
Reuters: Canada's allies in a bind as tensions rise with India over Sikh leader's murder
Canadian Sikhs hail Trudeau for ‘vocalising’ their cause against India FT
Bitcoin machines, rocket-launchers seized in Venezuela prison: AFP reports Venezuelan authorities on Thursday showed off dozens of Bitcoin mining machines and heavy weapons such as rocket launchers and grenades seized in a prison recaptured from gang control.
Public trust in US government: 1958-2023: Public trust in the federal government, which has been low for decades, has returned to near record lows following a modest uptick in 2020 and 2021. Pew
+ Currently, fewer than two-in-ten Americans say they trust the government in Washington to do what is right “just about always” (1%) or “most of the time” (15%).
+ This is among the lowest trust measures in nearly seven decades of polling.
+ Last year, 20% said they trusted the government just about always or most of the time.
Americans’ dismal views of the nation’s politics: 65% say they always or often feel exhausted when thinking about politics. Pew
Bloomberg: McCarthy ambushed by Republican hardliners changing course on spending plan
CNBC: House recesses after Defense bill, government funding plan implode
+ House Republican leaders on Thursday sent the chamber into recess, likely dashing hopes of passing a bill to fund the government in the coming days.
+ The stinging defeat came after a procedural vote on a defense funding bill failed Thursday morning.
+ Investors are growing concerned that a government shutdown would cut into fourth-quarter GDP and undermine confidence in the nation’s ability to keep its own government open.
McCarthy sends Republicans home after losing vote to advance spending bill: WSJ reports with roughly nine days until a government shutdown, the House speaker faces a number of challenges in passing legislation.
Bloomberg: DeSantis close to getting Iowa governor's endorsement in blow to Trump
+ Support would boost odds of DeSantis upset in Iowa contest
+ Reynolds endorsement not final, decision possible in November
A third party signed up 15,000 voters in Arizona. Democrats worry that’s enough for a Biden spoiler: AP reports more than 15,000 people in Arizona have registered to join a new political party floating a possible bipartisan “unity ticket” against Joe Biden and Donald Trump.
+ The very existence of the No Labels group is fanning Democratic anxiety about Trump’s chances against an incumbent president facing questions about his age and record.
The Hill: Manchin circulates proposal to reverse Schumer on dress code
CNN: Rupert Murdoch steps down as Fox and News Corp. chairman, sending shockwaves through media and politics
Rupert Murdoch to retire from Fox and News Corporation boards: NYT reports the move leaves his son Lachlan as the sole executive in charge of the global media empire.
Rupert Murdoch to step down as chair of Fox, News Corp: WSJ reports the 92-year-old Murdoch will exit roles atop News Corp and Fox in November and will be appointed chairman emeritus.
UAW’s demand for 32-hour workweek takes back seat: WSJ reports the proposal has captivated workers’ attention, but the talks have focused on issues such as pay.
American labor’s real problem: It isn’t productive enough Greg Ip
WP: Home sales plunge 21 percent over year, new housing data shows
Oil and gas investment peaked in 2014 at $887 billion. It is expected to reach $579 billion in 2023.
Ex-Goldman bankers make a fortune with controversial bet on coal: A commodities newcomer is using deep connections with US miners to compete with industry giants — and make its founders very, very rich. Bloomberg
Reuters: US SEC cracks down on funds "greenwashing" with new investment requirement
Asian EV companies descend on Dunkirk as Europe courts investment: Influx from the east is transforming France's automaking heartland into an electric hub. Nikkei
Are electric cars really better for the environment? Michael J. Coren
Reuters: Disney CEO says company will 'quiet the noise' in culture wars, according to analyst note
ChatGPT can now generate images, too: NYT reports OpenAI released a new version of its DALL-E image generator to a small group of testers and incorporated the technology into its popular ChatGPT chatbot.
CNBC: John Grisham, George R.R. Martin and other prominent authors sue OpenAI
+ A group of prominent US authors has sued OpenAI over alleged copyright infringement in using their work to train ChatGPT.
+ The lawsuit, filed by the Authors Guild in Manhattan federal court on Tuesday, alleges that OpenAI “copied Plaintiffs’ works wholesale, without permission or consideration.”
+ The proposed class-action suit is one of a handful of recent legal actions against companies behind popular generative AI tools, including large language models and image-generation models.
Bloomberg: YouTube announces AI-enabled editing products for video creators
Inside Apple’s spectacular failure to build a key part for its new iPhones: The company set out to design a silicon chip that would allow it to cut ties with Qualcomm, a longtime supplier and bitter foe. WSJ
Cisco Systems to buy Splunk in $28 billion deal: WSJ reports the networking-equipment giant Cisco is looking to tap further into the rise of generative artificial intelligence. Shares of Splunk rose more than 20%.
FT: Venture firm GGV Capital to split off China business after US pressure
Tech remains central in the Hot Peace between China and the US: Despite the shouty rhetoric, economic symbiosis remains strong, benefiting consumers on both sides. John Thornhill
What the most ‘Chinese’ smartphone yet tells us about politics: The advances in domestic chipmaking suggest Western controls will be far from watertight. Chris Miller
Why your Starbucks wait is so long: Elaborate drinks and an almost endless array of combinations can slow baristas down, but a plan to hasten service has yet to materialize. Bloomberg
Why fear-based advertising wins Walker Smith
Bloomberg: L’Oréal CEO sees beauty market rising to €400 billion by 2030
The neuroscience of beauty: What your brain finds beautiful – and how this shapes your thoughts: We seem pre-programmed to appreciate beauty, but why is this? BBC
Can you power-network like a CEO? Breakfast at 7. Drinks until midnight. Calendar choreography. How executives are navigating New York’s busiest week. WSJ
Deion Sanders hasn’t revolutionized college football — but he could Kevin B. Blackistone
Rugby World Cup in France: No English, please! Communication in and around the stadiums is mainly in (broken) English, a breach of the French law highlighted by defenders of Molière's language. They hope the Paris 2024 Olympic Games will be a different story. Le Monde
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
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