Russia launched another barrage of missile attacks on Ukraine's energy grid, causing blackouts in several regions. The missiles were launched just hours after explosions were reported at two military bases deep in Russia, with Moscow claiming that the blasts were caused by Ukrainian drone attacks. More: - Ukrenergo, the Ukrainian state energy company, wrote a Facebook post saying that a "mass missile attack" had damaged electrical facilities across the country.
- A shelter-in-place warning was issued to residents of the Kyiv region, where cruise missiles were reportedly seen flying through the air.
- Russia has been targeting Ukraine's electric grid with missiles since October, when a Ukrainian counteroffensive pushed Russian troops out of areas in the southeast.
- Ukraine's Air Force said that its anti-missile defense systems shot down 60 of the 70+ missiles fired by Russia.
- Many of these anti-missile systems were supplied by the EU and U.S.
Explosions at Russian Bases: - One of the two Russian military bases targeted in the attacks is home to the long-range bombers used to launch missile attacks on Ukraine.
- The bases are between 300 and 450 miles from the Ukrainian border, out of range for Ukrainian missiles.
- Ukraine did not claim responsibility for the attacks.
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 The U.K. will raise its corporate tax rate for large companies from 19% to 25% starting in April 2023. The British government, which is on its third prime minister of 2022, has changed the corporate tax rate four times this year. More: - The tax hike will apply to companies with annual profits exceeding £250,000 ($307,000), and it is expected to raise ~£18B in additional tax income per year.
- Business leaders told the Wall Street Journal that they welcome certainty about the tax regime after months of flip-flopping by British leaders over the country's fiscal and monetary policies.
- The short-lived Truss government announced plans to reduce taxes in late September.
- These plans were reversed after current Prime Minister Rishi Sunak took office a month later.
- The annual inflation rate in the U.K. hit 11.1% in October, a 41-year high.
Zoom Out: - Last month the Bank of England said that the U.K. had already entered a recession and that the economic downturn could last until mid-2024.
- The British central bank projected that unemployment could increase from 3.5% to 6.5% by the end of the recession.
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 China plans to further ease its "Zero Covid" policies following national protests against the current lockdown, quarantine, and testing rules. Even though most of the protests have concluded, many Chinese regional authorities have started relaxing their Covid policies. Shanghai said it will stop requiring Covid tests from people entering public places this week. More: - The central government could announce a new set of national rules as soon as Wednesday.
- The new regulations could come into effect as early as January 2023.
- Ting Lu, chief China economist for Nomura, said that the "road to reopening may be gradual, painful, and bumpy."
- On Nov. 29 China had an all-time pandemic high of 71,000 new COVID-19 cases.
- Modeling developed by public health researchers suggests that a rollback of China's Covid restrictions would lead to 160 million to 280 million people being infected, with a projected death toll of 1.3 to 2.1 million.
Zoom Out: - The Yuan hit its highest mark against the U.S. Dollar since mid-September on Monday.
- A source at Apple supplier Foxconn reportedly said that it expects its plant in Zhengzhou - the biggest iPhone factory in the world - to resume full production in December or January.
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 GOOD NEWS: The world's oldest pen pals, who have been writing to one another since 1938, both celebrated their 100th birthdays this year. Briton Geoff Banks and American Celesta Byrne first started to write to each other in 1938 as part of an educational program aimed at connecting British and U.S. students. More: - Geoff described the nature of their correspondence:
- "In one of my early letters I sent her a copy of a British paper in 1953 which had Queen Elizabeth II’s coronation on the front of it. But we generally just chat about daily lives and our families—and put the world to rights, you know"
- The pair met in person for the first time in 2002, when Geoff visited New York for a Christmas holiday.
- As of lately, the centenarians communicate with each other through what Geoff calls "this new thing called Zoom."
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 "Goblin mode" is the 2022 Oxford University Press word of the year. The term, which was the first-ever Oxford word of the year selected through a public poll, beat out "metaverse" and "#IStandWith." What is Goblin Mode? - Oxford University Press (OUP), which publishes the Oxford English Dictionary, defines goblin mode as being "unapologetically self-indulgent, lazy, slovenly, or greedy, typically in a way that rejects social norms or expectations."
- The term originated in 2009 but achieved widespread popularity this year thanks to social media.
- The meme of "going goblin mode" purportedly emerged in response to the perfectionism promoted by social media culture, with self-identified goblins choosing to reject 5 a.m. workouts and the cult of relentless self-improvement.
- Casper Grathwohl, president of Oxford Languages at OUP, said:
- "'Goblin mode’ resonates with all of us who are feeling a little overwhelmed at this point. It’s a relief to acknowledge that we’re not always the idealized, curated selves that we’re encouraged to present on our Instagram and TikTok feeds."
Zoom Out: - Fellow dictionary publisher Merriam Webster picked "gaslighting" as its 2022 word of the year.
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Indian billionaire Gautam Adani's conglomerate became the largest shareholder in New Delhi Television Ltd (NDTV), one of India's most popular news networks. Adani said he sees the takeover not as an investment opportunity but as a "responsibility." More: - With his 37.4% stake, Adani can propose a new set of directors for NDTV's board.
- Adani announced his intention to acquire a majority stake in NDTV in August.
- The move was opposed by NDTV's founders, who tried to block the takeover on regulatory grounds.
- After the move failed, a corporate entity backed by the founders sold a 29.2% stake in NDTV to Adani -- previously, Adani bought an 8.3% interest in NDTV through an open offer.
- Ravish Kumar, an NDTV senior executive editor who worked at the network for 27 years, resigned last week after Adani took increased his stake in NDTV.
Zoom Out: - Adani, India's richest man, has close ties with Indian Prime Minister Narendra Modi and his Hindu nationalist Bharatiya Janata Party.
- Critics have argued that the takeover could threaten press independence in India.
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- Public corruption charges against former New York Lt. Governor Brian Benjamin were dismissed by a U.S. District judge, who found that the Justice Department's charges didn't meet the legal threshold for alleged bribery prosecutions involving campaign contributions.
- Slack CEO Stewart Butterfield, who stayed with the company after it was acquired by Salesforce for ~$27B in mid-2021, is stepping down. Salesforce co-CEO Bret Taylor resigned last week.
- E-commerce startup Rokt, which uses AI and machine learning to analyze the behavior of online shoppers, was valued at $2.4B in its latest funding round. The company reportedly plans an initial public offering (IPO).
- Croatia beat Japan in penalty kicks on Monday, advancing to the World Cup's quarterfinals.
- Taking care of yourself matters, and BetterHelp connects you to a therapist within 48 hours, without having to leave home. Get 25% off your first month.*
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 Horse, Rider and Clown by Henri Matisse. 1947
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 |  | Daniel Smith is an Inside Analyst who currently resides in Miami, Florida. A native of Brooklyn, New York, Daniel spent the last four years as a PhD candidate in Politics and International Studies at Cambridge University in the United Kingdom. He is fascinated by tech, business, politics, venture capital, and everything in between. When he’s not writing for Inside he can be found kicking a ball on the nearest rugby pitch. Follow him on Twitter @DanSmithInside. |  | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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Greenhouse gives you the technology and know-how to be great at hiring with a measurable ROI. | |
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