Caracal Daily | September 27

Caracal Daily is geopolitical business news + intelligence for comms pros.

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Happy Friday.

Here’s today’s Caracal Daily:

*** Globalization + Geopolitics ***

President Joe Biden announced nearly $8 billion in new military assistance for Ukraine on Thursday and plans to convene a leader-level meeting of key allies to coordinate additional support when he visits Germany next month.

US House speaker demands that Ukraine fire ambassador: NYT reports the public call from Speaker Mike Johnson deals a blow to Kyiv’s efforts to avoid the partisan acrimony of the US presidential campaign.

Donald Trump attacks Kyiv for ‘refusing to make a deal’ to end war: FT reports the former US president insists ‘Ukraine is gone’ as Volodymyr Zelenskyy pushes for more military aid to repel Russia.

Volodymyr Zelenskyy seeks to contain Republican backlash over US visit: FT reports the Trump criticism triggers recriminations in Kyiv over Ukrainian leader’s outreach.

‘Deepfake’ caller poses as Ukrainian official in exchange with key Senator: A figure impersonating Dmytro Kuleba, the former foreign minister of Ukraine, targeted Senator Benjamin L. Cardin, the chairman of the Foreign Relations Committee, over a Zoom call. NYT

Iran races to allay Hizbollah fears: Tehran’s restraint in the face of increasingly aggressive Israeli operations has unsettled Lebanese militant group. FT

An Israel-Hizbullah war would be a disaster for both: Both must find a way to step back. Economist

French-American initiative calls for 21-day ceasefire in Lebanon: Le Monde reports as Israel continues its bombing campaign against Hezbollah, which has killed over 600 people since Monday, Western diplomats are working to clear the way for a negotiated settlement to the crisis.

WSJ: Israel casts soubt on Hezbollah cease-fire

Netanyahu insists Israel will continue to hit Hizbollah targets: FT reports the prime minister casts doubt on US-led efforts to bring about a ceasefire and prevent war spreading across the region.

As war widens and costs mount, Israel’s economy is in ‘serious danger’: WP reports tens of thousands of Israeli businesses have closed over the last year and reservists are struggling to juggle careers with military service.

How a Chinese billionaire’s Silicon Valley splurge caught the eye of the FBI: Shan Xiangshuang’s $10bn buyout group quietly became a top US tech investor. That has triggered official concern. FT

Reuters: China to issue $284 billion of sovereign debt this year to help revive economy

China lifts markets with promise of more support for economy: FT reports Chinese and European shares buoyed as politburo promises to drive investment.

China ranks first among Russia's business partners: Le Monde reports Chinese companies have made dramatic leaps up Russia's list of major economic partners, particularly carmakers. Yet some Western companies, including France's Auchan and Leroy Merlin, are still major local players.

China’s newest nuclear sub sank, setting back its military modernization: WSJ reports the pierside accident came as Beijing, which hasn’t acknowledged the episode, attempts to project its military power.

Japan has sailed a warship through the Taiwan Strait for the first time. A Chinese official said the military ‘had the situation under control.’

Saudi Arabia ready to abandon $100 crude target to take back market share: FT reports oil price falls as kingdom prepares to raise output from December.

Turkey held its biggest-ever bond sale, raising $3.5bn in funds. 

Turkey wants the EU to regulate the döner kebab: Germans’ version would not qualify, and they are steaming. Economist

Europe had its hottest summer on record, according to the European Union’s Copernicus Institute.

The uncertain future of the European Green Deal: Le Monde reports the European right, along with Italy and Germany, is leading the offensive against two emblematic bills: one against deforestation and the other to ban the sell of internal combustion engine cars after 2035.

The European Commission has revealed a list of the first 100-plus signatories to the AI Pact — an initiative focused on getting companies to publish “voluntary pledges” on how they approach and deploy artificial intelligence.

Elon Musk has denied that he is having a fling with Italian Prime Minister Giorgia Meloni.

The Sudanese Armed Forces began a big offensive to recapture territory in and around Khartoum, the country’s capital.

***  US Politics + Elections ***

WP: Hurricane Helene, now a Category 3, could bring ‘catastrophic’ storm surge to Florida

POTUS poll: A new Echelon Insights poll finds Kamala Harris leading Donald Trump in a head-to-head race, 52% to 45%.

Pro-Trump group expands ad buy by $70 million in the race’s final weeks: NYT reports the MAGA Inc. super PAC plans to run ads to make the case that Kamala Harris is soft on crime and to tie her to the Biden administration’s record.

Harris puts government intervention at heart of economic policy: WSJ reports in an appeal to blue-collar workers, the vice president pledges to use tax credits to spur domestic manufacturing.

Harris now has an economic plan. Can it best Trump’s promises? A central question in the final stretch of the election is if Vice President Kamala Harris’s proposals will cohere into an economic argument that can top former President Donald J. Trump’s. NYT

Why Kamala Harris has won me over Stanley McChrystal

With few wins to highlight, House Republicans head home to chase votes: NYT reports the GOP has plenty of dysfunction to point to after nearly two years of controlling the chamber, but not many successes to show voters ahead of the Nov. 5 election.

Reuters: US FTC announces crackdown on deceptive AI claims, schemes

New York City Mayor Adams charged with corruption offenses: WSJ reports Eric Adams filled his campaign war chests with illegal foreign contributions and crisscrossed the globe on the dime of Turkish nationals without disclosing the free perks, prosecutors said.

NYC mayor charged with bribery, wire fraud, seeking campaign funds from a foreign national: WP reports the indictment against Eric Adams reveals a lengthy list of accusations that grew out of what prosecutors called “corrupt relationships” with rich foreigners.

Bloomberg: NYC Mayor was corrupt for years, US claims in scathing case

New York Mayor to be arraigned Friday on bribery and fraud charges: NYT reports the U.S. attorney in Manhattan said Eric Adams took over $100,000 in graft and used his powers to help Turkey. The mayor insisted he was innocent.

Andrew Cuomo is preparing to run for New York City mayor.

Coming up next on CNN: A paywall: NYT reports CNN will begin experimenting in October with a subscription model, a major initiative from its chief executive, Mark Thompson.

*** Disruption + Innovation ***

Is a stealth bomber-shaped plane the future of air travel? Global airlines look to new fuels and radical new designs to offset rising carbon emissions. FT

Bloomberg: Bitcoin climbs past $65,000 ahead of $5.8 billion options expiry

AI’s trillion-dollar opportunity: The market for AI products and services could reach between $780 billion and $990 billion by 2027. Bain

OpenAI boss set for $10bn payday from move to for-profit model: Three executives depart amid reports Sam Altman’s company may ditch founding non-profit principle and hand chief executive a 7 percent stake. The Times

OpenAI pushes ahead with for-profit plans and talks to give Sam Altman a stake: Chief Technology Officer Mira Murati to step down in leadership shake-up. FT

OpenAI is just like the rest of Silicon Valley after all: Sam Altman’s company is shaking off the do-gooder shackles. Dave Lee

Meta releases Llama 3.2—and gives its AI a voice: Meta’s AI assistants can now talk and see the world. The company is also releasing the multimodal Llama 3.2, a free model with visual skills. Wired

Can machines be more ‘truthful’ than humans? A new film based on the life of Brian Eno raises some profound questions about the disruptive effects of AI. John Thornhill

Micron, the largest US maker of computer memory chips, gained the most in nearly 13 years after giving surprisingly strong sales and profit forecasts, helped by demand for artificial intelligence gear.

Vanderbilt University plans New York City expansion: WSJ reports the Nashville-based school will take over the Manhattan campus of an Episcopal seminary in financial distress, as the university tries to attract students by opening new locations.

*** Culture ***

3%: The proportion of books sold in Britain last year that were marketed as “self-help.”

Conveying confidence through clothing: Signs of self-assurance were apparent in outfits on and off the runways at Milan Fashion Week. NYT

Netflix's "Mr. McMahon," a six-part docuseries chronicling the rise and fall of WWE founder Vince McMahon, was released this morning.

Are Americans sounding a tad British to you? You’re spot on. WP

Hoda Kotb is leaving the 'Today' Show.

*** Sport ***

Derrick Rose has announced that after 15 NBA seasons, he is retiring from basketball.

It was the pro sports capital of America. Now it’s been wiped off the map. Oakland was titletown in the 1970s, as the A’s, Raiders, and Warriors delivered championships in five straight years. Now, in the same span of time, all three have abandoned the city they once called home. WSJ

By creating space for herself, Caitlin Clark stands alone: The Indiana Fever star commanded fans’ attention and ultimately brought new eyes to women’s professional basketball. Sally Jenkins


Enjoy the ride + plan accordingly.

-Marc 

Marc A. Ross | Chief Communications Strategist @ Caracal