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ITK Daily is geopolitical business intelligence.
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Global trade falls at fastest pace since pandemic: Demand for goods exports weakens on the back of higher inflation, rate rises, and spending on services. FT
Japan to compile economic package to ease inflation pain: Reuters reports Japan's Prime Minister Fumio Kishida unveiled on Monday the pillars of a new economic stimulus package to be compiled next month to help households ease the pain of price hikes and boost wages.
Kishida outlines new economic measures for 'sustainable wage growth': TJT reports some of the measures are intended to raise earnings by easing workers’ concerns about so-called annual income barriers.
China criticizes Japan's treated water release at IAEA annual meeting: NHK reports Japan's Science and Technology Policy Minister Takaichi Sanae has hit back. She said China is the only country, despite being a member of the IAEA, that continues to spread scientifically groundless information and impose unreasonable import restrictions.
Japan's fishing industry struggles after China ban: NHK reports China's ongoing suspension of the import of Japanese seafood is dealing a heavy blow to Japan's fishing industry. Japanese officials say the release of treated and diluted water from the Fukushima Daiichi nuclear power plant continues to meet safety standards. The government is now urging China to lift restrictions.
US Army bolsters ties with Japan as focus shifts to China: Nikkei reports the allies advance intel sharing ahead of Tokyo's acquisition of long-range missiles.
NATO's €1bn venture fund offers defense start-ups an alternative to China: FT reports the US-led military alliance to boost financial clout for companies from ‘multi-sovereign’ VC investors
DN: Taiwan moves closer to acquiring 160 Turkish-made Jackal drones
Biden pledges $40bn to Pacific islands to counter growing Chinese influence: Guardian reports leaders of Pacific island states have been given star treatment in Washington, but Chinese influence is the specter at the feast.
Solomon Islands PM Sogavare skips Biden-led summit: Nikkei reports the absence comes amid the South Pacific nation's warming ties with China.
Western companies take slow steps towards China ‘de-risking’: Most strategies are focusing on ways to insulate China operations rather than reduce them. FT
New India-EU trade route: Bringing the Gulf states closer? The new planned trade route between Europe and India is also an attempt to bring Saudi Arabia and the UAE closer to the West. But those countries see the project differently. DW
WP: First US-supplied M1 Abrams tanks arrive in Ukraine
Nord Stream explosion: A maze of speculation: One year ago, a series of explosions destroyed a central element of Europe's energy infrastructure. Despite state-led and journalistic investigations, who exactly was responsible remains unclear. DW
Politico: Nagorno-Karabakh exodus grows as Armenia warns of ‘ethnic cleansing’
Hundreds injured after fuel depot blast in Nagorno-Karabakh, official says: NYT reports the blast occurred as ethnic Armenians were fleeing the breakaway region that had returned to the control of Azerbaijan.
AP: President Macron says France will end its military presence in Niger, pull its ambassador after coup
Macron ultimately orders military exit from Niger: Le Monde reports the French president said on Sunday Paris was ending its military cooperation with the authorities of the Sahelian country and that French soldiers stationed there would leave 'by the end of the year.'
AFP: US weighs options in coup-hit Niger after France pullout
Macron outlines climate plan with focus on boosting heat pumps, electric cars and public transport: Le Monde reports to reach net zero emissions by 2050, the French president said the country will have to move 'twice as fast.' He believes the plan will help make France more sovereign, competitive and fair as it decarbonizes the economy.
Emmanuel Macron tries to regain control of the climate agenda: Le Monde reports the French president held a national planning council focused on climate, an area in which he has never managed to find the right tone.
Bloomberg: France plans to curb power prices to boost green investment
+ French government due to present new regulations next month
+ Macron says production of heat pumps will be tripled by 2027
UK's fossil fuel car ban delay may only stall investment: Reuters reports Britain's decision to delay a ban on new fossil fuel car sales may make little difference to the pace of a shift to electric vehicles (EVs), even though the news drew anger from automakers worried about supply chains and investment uncertainty.
Gordon Brown has said that the richest oil states should pay a windfall tax to help the world’s poorest nations combat climate change.
Italy's Giorgia Meloni: Not so radical after all? A year ago, Giorgia Meloni's radical right-wing Brothers of Italy party was the biggest winner in Italian parliamentary elections. What has she achieved in her first year in office? DW
MT: Congress eyes protecting military pay ahead of government shutdown
Money for Ukraine at center of Senate bid to avert shutdown: NYT reports Senators of both parties are debating whether to include new military assistance for the fight against Russia in any stopgap spending bill.
Gen. Mark Milley, polarizing Joint Chiefs chairman, exits center stage WP
WP: Democrats embrace Biden’s upcoming visit to Michigan UAW picket lines
US auto strike: 'Everything but our paycheck is going up': Le Monde reports by launching an unprecedented movement for higher wages, the powerful United Auto Workers union has succeeded in driving a wedge between Detroit's Big Three. Ford has given in, and the onus is now on General Motors and Stellantis. The economic and political stakes are high.
WP: Ron DeSantis and Gavin Newsom to debate in November, Fox News says
WP: DeSantis is in growing trouble. He’s betting big on Iowa to rescue him.
OpenAI CEO says possible to get regulation wrong, but should not fear it: Reuters reports the CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong, but it is important and should not be feared, amid global concerns about rapid advances in artificial intelligence, or AI.
The Oppenheimer of our age: Sam Altman insists the AI he is creating could destroy us even as he hastens its advancement. Do we know enough about him? Elizabeth Weil
Amazon to invest up to $4 billion in Anthropic as AI arms race escalates: The deal follows Microsoft’s multibillion-dollar stake in rival startup OpenAI. WSJ
NASA has collected an asteroid sample for the first time.
+ It is only the third asteroid sample, and by far the biggest, ever returned to Earth for analysis.
+ Asteroid will offer a glimpse of 'earth while it was forming to shape life as we know it'
Building in zero gravity: The race to create factories in space: Tech companies see big benefits in making drugs, harvesting stem cells, and growing crystals in ‘off-Earth’ conditions. Guardian
Mitsubishi Chemical to open new semiconductor materials plant: TJT reports details on when or where it will be built or how much it will cost have not been decided, but Fukuoka Prefecture is reportedly a candidate location.
Ford is halting construction of a $3.5 billion battery plant in Michigan that drew scrutiny from Republican lawmakers for its ties to a Chinese battery maker.
California governor vetoes bill banning robotrucks without safety drivers: Reuters reports CA Governor Gavin Newsom late on Friday vetoed a bill to prevent heavy-duty driverless trucks from operating in the state, in a relief for companies developing autonomous technology to haul goods across the US.
Nissan says all new models coming to Europe will be fully electric: Reuters reports Nissan said on Monday all its new European models will be fully electric, and it plans to sell only electric vehicles (EVs) on the continent by 2030, joining a growing number of carmakers shifting to electric by the end of the decade.
WP: Brightline opens $6 billion line to Orlando, expands US rail market
USAir Force receives its first electric air taxi: NYT reports Joby Aviation delivered the aircraft, which can carry a pilot and four passengers, to Edwards Air Force Base in California for testing.
Lego ditches oil-free brick in sustainability setback: FT reports the world’s biggest toymaker says new material made from recycled bottles would have bigger carbon footprint.
Even a booming economy can’t save this city’s office market: Atlanta offers an ominous warning to other cities that are hoping their office towers will fill up again when more robust economic growth returns. WSJ
The Times: London offices lose nearly a fifth of their value in a year
Netflix prepares to send its final red envelope: NYT reports the company’s DVD subscription service is ending this month, bringing to a close an origin story that ultimately upended the entertainment industry.
NPR: Hollywood writers reach a tentative deal with studios after nearly five month strike
Hollywood strike deal is a mixed blessing for studios: WSJ reports the strikes have been a negative for the studios, but the production stoppages have been a positive for their cash-flow statements.
Bloomberg: Drew Barrymore Show expected to return in October after strike deal
A new look at Milan Fashion Week: The stars turned out to see debuts at Gucci and Tom Ford plus collections from Prada, Moschino and more. WP
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
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