ITK Daily | April 4

Happy Tuesday.

Here’s today’s ITK Daily.

To be ITK, know this:?

Gwynnocent: On this episode of Ructions with Ross + Ashley, Marc Ross + Gerald Ashley discuss the CPTPP, South Africa, France, and Donald Trump and what they are reading and watching.

Listen or watch?here .

OPEC?announced a surprise oil production cut Sunday that will drive prices higher.

Why Opec+ is cutting oil output now: Attempt to prop up crude prices highlights growing Saudi-US tensions.?FT

US and Saudis go from fist bump to knife in the back: A surprise decision for a huge OPEC+ production cut will help Russia and boost inflation. Unless it doesn’t.?Jessica Karl

Reuters: Philippines set to receive first-ever LNG cargo for power generation

Reuters: Poland to spend big on power grid to meet renewables goals

No place to hide for global investors facing mounting political risks: Businesses scramble to make sense of shape-shifting environment by moving supply chains and funds.?WP

Against the world — a panoramic history of anti-globalization: Tara Zahra deftly weaves cutting-edge scholarship and human stories into concerns about democracy, markets, and nation-states.?FT

Can Powell’s Fed afford to ignore geopolitics??The name “Paul Volcker” still makes central bankers in the Global South quail. But in today’s fight against inflation, Federal Reserve Chair Jerome Powell has more reason than Volcker to focus on the global impact of his actions.?Eduardo Porter

Lebanon split into two time zones in row over daylight saving: Government’s last-minute decision to delay clocks going forward caused confusion and deepened religious division.?Guardian

Today: Finland joins NATO.

Finland to join NATO on Tuesday: Politico reports: 'We will raise the Finnish flag for the first time here at the NATO headquarters,' says alliance chief Jens Stoltenberg.

Turkey is the headache NATO needs: Despite disagreements, Ankara and the West are locked in a marriage of mutual convenience.?Politico

Mussolini’s Grandchildren — the long shadow of fascism in Italy: Historian David Broder on why Giorgia Meloni and her populist government provoke questions about the past.?FT

+ Italian Prime Minister Giorgia Meloni said companies, universities, and officials that use English words in documents could be fined up to €100,000.?

Non usare l'inglese.

Blast in St. Petersburg kills Russian military blogger: Reports: Politico reports Vladlen Tatarsky was killed in an explosion at Street Bar Cafe, according to media reports.

Russian pro-war blogger killed in St Petersburg restaurant blast: FT reports Vladlen Tatarsky had been meeting supporters and subscribers at a venue in the city center.

Russia confiscates passports of senior officials to stop defections: FT reports Kremlin tightens Soviet-era travel restrictions in ‘sensitive’ areas.

Montenegro’s president, Europe’s longest-serving elected leader, loses runoff: NYT reports the incumbent, Milo Djukanovic, conceded to Jakov Milatovic, who had campaigned on pledges to root out corruption and organized crime.

Finland votes:?Finland’s Prime Minister Sanna Marin has conceded defeat in the country’s parliamentary elections.?

Reuters: Finland's PM Marin concedes defeat as right-wing NCP wins election

Why Sanna Marin lost Finland’s election?Fredrik Erixon

Paris votes to ban rental e-scooters: BBC reports Parisians have voted to ban rental electric scooters in their city, dealing a blow to scooter operators and a triumph for road safety campaigners. Almost 90% of votes cast on Sunday favored a ban on battery-powered devices, official results showed.

CPTPP 'cornerstone' of UK's Indo-Pacific strategy: minister: Dominic Johnson sees the region as a center of growth and innovation.?Nikkei

Britain’s new trade deal is about more than GDP?George Magnus

Keir Starmer: I will be ruthless in pursuit of power: Polling suggests Labour leader is not setting out a clear vision.?The Times

Big Tech lobbyists get stuck in to UK’s landmark competition bill: Ministers are preparing new competition rules — and US tech giants are already pushing back.?Politico

Belgian intelligence puts Huawei on its watchlist: Senior Huawei lobbyists in Brussels are under the microscope of the country’s state security.?Politico

Philippines gives US access to strategic military bases: DW reports the Philippines' government has identified four more military bases that the US could access. Two locations are close to Taiwan and the disputed South China Sea islands.

Why Lithuania and Czechia are pursuing closer ties with Taiwan?Devin Haas

‘On a tightrope’: How Taiwan’s president navigated the US and China: Known for her quiet pragmatism, Tsai Ing-wen has ushered in a new era of American cooperation as worries about Chinese aggression rise.?NYT

+ House Speaker Kevin McCarthy is poised to meet with Taiwan President Tsai Ing-wen on Wednesday – a historic event that comes amid warnings from China, CNN reports.

A dumpling may be Taiwan’s most potent (and delicious) soft power weapon: The restaurant chain Din Tai Fung’s founder created a global phenomenon, one serving of “xiao long bao” at a time.?Bobby Ghosh

Emmanuel Macron wants to charm China — after failing with Putin: Washington has doubts about Macron’s endeavors to reach out to Xi Jinping, ahead of his trip this week.?Politico

The Times: Macron to visit Xi in Beijing as he seeks Ukraine peace plan

In Beijing, Japan’s foreign minister warns over Russia-China military ties: WSJ reports top diplomats joust while Tokyo opens a missile base on the southern island.

+ The accounts of Hayashi’s visit, the first by a Japanese foreign minister to China in more than three years, suggested relations between Asia’s two biggest economies remain frosty and beset by a range of disputes.

Reuters: Japan's foreign minister urges China to release detained national

CNBC: China urges Japan not to back US chip export restrictions as Washington tries to rally allies

Hong Kong’s crypto ambitions get a boost from US crackdown: WSJ reports more than 20 crypto companies have said they plan to set up operations in the city.

AP: More Ecuadorians move to US, spared many others’ hurdles

Harris, in Africa, puts a rare emotional emphasis on her identity: The VP, who is Black and Indian American, has long resisted being confined or defined by her historic status.?WP

Biden’s reluctant approach to free trade draws backlash: A law intended to bolster clean energy manufacturing has ignited debate over whether the US should work to break down international trade barriers — or keep them intact to protect American workers.?NYT

On foreign policy, Biden’s gut is his guide: The president often rejects the views of aides and experts in favor of his long-honed instincts.?WP

Lawmakers to meet with Iger, Cook, other execs about China?Axios

Trump’s Republican rivals are missing an obvious opportunity: Now is an ideal moment for Republicans to free themselves from the former president. They’re not exactly taking advantage of it.?Mark Leibovich

Tim Scott’s Capitol Hill fans question his chances in 2024: Politico reports take it from two fellow Republican senators who unsuccessfully ran for president: As much as they like their South Carolina colleague, the optimism pitch gets tricky with the party’s base.

+ Sen. Tim Scott (R-SC) and his advisers are building a South Carolina team, the Charleston Post & Courier reports.

Super PAC backing DeSantis says it has raised $30 million: NYT reports fund-raising is predicted to be a strength for Ron DeSantis, who is expected to announce his bid for the Republican presidential nomination in the coming months.

How freedom-loving Florida fell for Ron DeSantis: A journey through Ron DeSantis’s magic kingdom.?The Atlantic ?

FT: Bob Iger calls Ron DeSantis ‘anti-business’ in fight over Disney district

Disney’s Iger shows he’s willing to get his hands dirty: The entertainment giant’s CEO is known for his diplomatic finesse. But sometimes you have to mix it up.?Beth Kowitt

No Labels group raises alarms with third-party presidential preparations: It has money, name-brand political backers and declines to describe either President Biden or Donald Trump as acceptable candidates.?WP

From agitator to insider: The evolution of AOC: The New York Democrat, in a wide-ranging interview, tackled her “really surreal” start in Congress and the space she’s carved out in the party fold.?Politico

NASA named the 4 astronauts of the Artemis II Moon mission: NYT reports the crew of three Americans and one Canadian will be the first humans to fly toward the moon in more than 50 years.

+ The four astronauts will be the first to fly NASA’s Orion capsule, launching atop a Space Launch System rocket from Kennedy Space Center no earlier than late 2024.

+ The space program in Canada may not have a whopping budget, but it does have one thing that other countries don’t: a spot aboard NASA’s Artemis II mission to the moon.

Lithium shortages threaten Europe’s electric car transition: Without a homegrown supply of key battery component, Europe could struggle to compete with China.?FT

+ The Biden administration OK’d a California plan to require half of all heavy vehicles like garbage trucks and tractor-trailers sold in the state to be fully electric by 2035.

The battle over TikTok is just starting: Americans spent 53 billion hours on TikTok last year, according to one Wall Street estimate. If the service is banned in the US, much of that time could go to Meta, YouTube, and Snap. What it all means for stocks.?Barron's

The Twitter I love doesn’t exist anymore: At its best, the platform was a reminder that there are quick-witted and even wise people in the world with ideas to share.?Virginia Heffernan

Regulating AI will be essential. And complicated.?The middle ground would be creating a new federal agency, like the SEC or the FDA but staffed with experts on artificial intelligence.?Noah Feldman

The guy who bid $190 million for the Flatiron Building didn’t show up with the money: “I suspect he didn’t have the money, or that he realized he overbid and decided not to proceed,” the sale's court-appointed referee told The New York Times.?Fortune

Reuters: Stellantis' South America arm plans giant investment from 2025

Reuters: Cummins to invest over $1 bln to upgrade US facilities to new clean energy tech

What HBO’s “Succession” can teach us about negotiating?Francesca Gino

Your brain could be controlling how sick you get—and how you recover: Scientists are deciphering how the brain choreographs immune responses, hoping to find treatments for a range of diseases.?Scientific American

Met Gala 2023 theme: “Looting and Plunder”

Dissecting the billionaire fashion in ‘Succession’: The hit HBO show has popularized the phenomenon of “stealth wealth” adopted by some real-life billionaires and admired by the general public.?WWD

Revealed: The surprising new location for The White Lotus: As a new location for season three of the HBO hit is revealed, Francisca Kellett looks at its exotic and inspiring Asian setting.?The Times

Getty and London’s National Portrait Gallery to jointly buy a masterpiece: Joshua Reynolds’s “Portrait of Mai (Omai)” is considered one of Britain’s most important early portraits of a person of color. In an innovative arrangement, it will travel between London and Los Angeles.?NYT

Is Formula 1 a serious sport or senseless Netflix fodder??Martin Samuel

‘Athletes are alone in this chaos’: The sharp divide over Russia and the Olympics: As Paris 2024 approaches, the debate over Russian and Belarusian participation has split the sporting world.?FT

How broader sports gambling has fared in Ontario and how it may change next: Sports gambling products proving popular with Ontarians, and bettors in other provinces, too.?CBC

Endeavor’s UFC, WWE to merge; Ari Emanuel to serve as CEO, Vince McMahon as executive chair: THR reports: “This is a once-in-a-lifetime opportunity to bring together two leading pureplay sports and entertainment companies," says Endeavor CEO Ari Emanuel of the new “$21 billion-plus" juggernaut.

How the relentless drive for optimization made baseball impossible to watch: The unlikely similarity between modern baseball and the AI boom.?Bryan Walsh

Enjoy the ride + plan accordingly.

-Marc?

Marc A. Ross | Chief Communications Strategist @ Caracal

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