ITK Daily | June 27
Global Street Smarts.
Happy Tuesday.
Here’s today’s ITK Daily.
To be ITK, know this:
Ructions | Problems come in battalions
On this episode of Ructions with Ross + Ashley, Marc Ross + Gerald Ashley discuss the Bank of England and the UK's mortgage madness, inflation and french fries, 2024 elections in the UK and US, Brexit's 7th anniversary, the history of 1848, the upcoming NATO summit meeting, Narendra Modi's state visit to DC, plus what they are reading and watching.
Caracal presents Ructions, a rundown of the global stories making headlines and insights on geopolitics. Plus, what Marc Ross + Gerald Ashley are reading and watching.
You can catch the discussion and show notes here.
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From today... It's only six months until Christmas.
Just how much trouble is Vladimir Putin in? Fourteen Russia experts on what we learned about Putin over the past few days, and what the attempted mutiny could mean for Russia and the West. Politico
Prigozhin’s insurrection propels Putin’s reign into its final act: Russia cannot function without a strong hand at the wheel, and this president’s hand has been fatally weakened. Chris Donnelly
The Putin system is crumbling: After the march on Moscow, things cannot go back to normal in Russia. Gideon Rachman
Russian media appear as perplexed as everyone else over Wagner mutiny: Many outlets express support for Vladimir Putin but worry about Russian stability. WSJ
Wagner uprising unnerves Russia's partners across Asia: Some leaders left to parse how to prevent challenges to their own power. Nikkei
WSJ: Putin blasts mutineers as Kremlin tries to assert control
The Times: Russia shall not choke in bloody strife, vows Putin
Le Monde: Putin accuses West of wanting Russians 'to kill each other' in aborted rebellion
FT: Wagner chief hails march on Moscow as ‘masterclass’ but denies coup bid
UK ‘prepared’ for ‘range of scenarios’ in Russia, Rishi Sunak says: Politico reports it’s “too early to predict” what will happen after this weekend’s failed mutiny, the British leader said.
+ Foreign Secretary James Cleverly said the UK government was planning for ‘all scenarios’ in Russia after the country nearly plunged into civil war at the weekend.
+ UK “will not be distracted from our work to support Ukraine’s self-defense and subsequent recovery.”
+ "We sought to demonstrate our protest, not to overthrow the government of the country." -- Wagner leader Yevgeny Prigozhin in his first recorded message after Saturday’s attempted coup.
+ @KuperSimon: Prigozhin must be sitting in Minsk thinking, "Where do I speak first? On Oprah?"
Alexander Lukashenko is the clearest beneficiary of Wagner’s mutiny: Economist reports his role in halting the march on Moscow is probably exaggerated.
AUS-RUS: Australia’s top court rejected Russia’s bid to hold onto a plot of land in its capital of Canberra, where Moscow planned to build a new embassy.
CNN: China throws support behind ‘strategic partner’ Russia after Wagner insurrection challenges Putin
Reuters: China expresses support for Russia after aborted mutiny
Xi weighs up support for Putin after rebellion: Beijing’s support for Moscow is based on pragmatism and ideology, with China’s most powerful ally damaged by recent events. Guardian
Putin’s struggles are a teachable moment for China: While Xi Jinping can’t be happy that his chief ally has been severely weakened, the Chinese leader is learning lessons too valuable to ignore. Minxin Pei
Yellen plans July China trip while US preps investment curbs: Bloomberg reports US Treasury Secretary Janet Yellen plans to visit Beijing in early July for the first high-level economic talks with her new Chinese counterpart, people familiar with the scheduling said.
The South Korean ‘master’ of chips accused of sharing secrets with China: Choi Jin-seok denies stealing Samsung technology. But the case underscores how the country is torn between geopolitical rivals. FT
The Times: North Koreans vow to ‘pulverize the American empire into dust’
Wonderful...
AP: Germany offers to station 4,000 troops in Lithuania to strengthen NATO’s eastern flank
Reuters: US keeps up weapons shipments to Ukraine with new $500 mln package
Politico: West after Wagner rebellion: Talk softly and help Ukraine carry a bigger stick
Minefields and menace: Why Ukraine’s pushback is off to a halting start: WSJ reports the Ukrainian Army is encountering an array of challenges that has complicated the early stages of its counteroffensive, especially the large swaths of minefields. But its leaders are urging patience, insisting the main push is yet to come.
Belgium pitches EU agency to screen algorithms: Politico reports the bloc’s artificial intelligence and content-moderation rulebooks require beefed-up enforcement.
OTD: In 2007, Tony Blair resigned as British Prime Minister, a position he had held since 1997. His Chancellor, Gordon Brown, succeeds him.
Japanese Prime Minister Kishida's approval rating sinks to 39%: Nikkei reports ID card issues loom large, but 75% say Tokyo should talk with Beijing.
Bloomberg: IMF approves $1.8 billion in loans for Senegal to revive economy
Saudi Arabia sends top delegation to China’s ‘Summer Davos’: FT reports the world’s second-largest economy deepens co-operation with Middle East.
OPEC woos tiny nation that sits atop massive oil field: South American country Guyana doesn’t want to join the cartel and aims to pump oil rapidly. WSJ
Fernández visits Brazil to celebrate 200 years of bilateral relations: Buenos Aires Herald reports Argentina’s president will meet Lula da Silva at the Planalto Palace.
Today: Mixed Race Day (Brazil)
Social democrats to go head-to-head in Guatemala's August election runoff: AFP reports a former first lady and the son of an ex-president – both social democrats – will go head-to-head in Guatemala's August runoff after no candidate secured enough votes to win Sunday's first round of presidential elections.
Recommended by LinkedIn
Today: Canadian Multiculturalism Day
WSJ: DeSantis, Trump and negativity dominate early GOP campaign ads
No Labels declines to reveal just who is funding its third party bid: Politico reports the group isn’t required under law to disclose its donors even as it takes on the look of a political party.
WP: Jesse Watters will take over Tucker Carlson’s former slot in Fox News prime-time shake-up
WSJ: NYC to move forward with congestion toll
Its promised land drying, Mormon Church works to save the Great Salt Lake WP
Landlines: About 73 percent of American adults lived in a household without a landline at the end of last year — a figure that has tripled since 2010.
AI's use in elections sets off a scramble for guardrails: Gaps in campaign rules allow politicians to spread images and messaging generated by increasingly powerful artificial intelligence technology. NYT
The ultra-secret underwater spy system that might have heard the Titan implode: System of undersea microphones built to track Soviet submarines could have guided search for submersible headed to Titanic. WSJ
‘It’s not like science fiction any more’: NASA aiming to make spaceships talk: Researcher Dr Larissa Suzuki tells how NASA is developing a ChatGPT-style interface. Guardian
Google Pixel Fold review: Foldable phones are improving: Google’s new $1,800 gadget proves that phones with bendable screens are something people might want. Now they just need to get cheaper. NYT
Apple keeps trying to fix its users: The company’s guilty conscience is making it nudgy. John Herrman
IBM agreed to buy Apptio, which makes software for managing information technology, for $4.6 billion.
The Telegram founder's mysterious French passport: Pavel Durov, the head of the controversial messaging app, was granted French citizenship in 2021 through an exceptional and highly political procedure, a surprising choice on the part of the authorities – all of whom declined comment. Le Monde
MW: HSBC moving out of Canary Wharf into Central London
Advertising groups look to their own creative transformations at Cannes: The industry faces tougher economic conditions as well as challenges from the rising use of AI. FT
China’s ‘Tesla killer’ stumbles amid EV price war: WSJ reports NIO has become a symbol of the challenges automakers face in the world’s largest electric-vehicle market.
Gerson Lehrman Group, which connects clients with a network of industrial experts, is reportedly laying off employees in China as Beijing cracks down on Western consulting companies operating there.
The global race to industrialize is just what we need Andy Haldane
Gucci owner is buying perfume maker Creed to grow its luxury empire: WSJ reports the purchase marks a major step for Kering’s ambitions to build a new beauty division, dubbed Kering Beauté.
Jenna Lyons, unlikely housewife: The famously stylish former president of J. Crew has joined the rebooted “Real Housewives of New York City.” Why? NYT
Review: ‘The Bear’ changes course(s): Season 2 of the restaurant dramedy is more uplifting, more team-focused and more magnificent. NYT
+ Ayo Ebebiri and Jeremy Allen White in the new season of “The Bear,” which tracks the effort to turn the family sandwich shop into a high-end restaurant.
The Bear is the best kind of workplace romance Roxana Hadadi
HBO is putting “The Idol” out of its misery a week early.
AFP: Mel Brooks, Angela Bassett to receive honorary Oscars
WSJ: Will Taylor Swift’s ‘Eras Tour’ become the first $1 billion tour?
+ "We estimate $250-500 mn in medical costs attributable to pickleball in 2023" - UBS
WP: USOPC official says another Salt Lake City Olympics may be on the horizon
Saudi Arabia accelerates its footballing ambitions, setting sights on World Cup: By offering golden contracts to aging stars and investing in clubs in Europe and Africa, Saudi Arabia hopes to harness the soft power of football to shift focus from its human rights record. Le Monde
MLS Toronto club fires former US national team coach Bradley: AFP reports Bob Bradley, the former coach of the United States national team, was fired on Monday as coach and sporting director of Toronto FC after a weak Major League Soccer start.
+ The US will host the Club World Cup in 2025, one year before co-hosting the men's World Cup.
Blackhawks deal for Hall with Bedard likely top NHL Draft pick: AFP reports former NHL Most Valuable Player Taylor Hall was obtained by Chicago on Monday ahead of the Blackhawks being expected to pick teen star Connor Bedard with the NHL Draft's top pick.
Ineos hail crash victim Bernal ahead of Tour de France return: AFP reports Ineos Grenadiers hailed 2019 Tour de France winner Egan Bernal's "character and resilience" in battling back from a near-fatal road accident to make their team for this year's race announced on Monday.
+ @F1: BREAKING: Hollywood actor Ryan Reynolds is part of an investor group taking a 24% equity stake in Alpine
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal produces ITK Daily.
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