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| 1 | | President Biden said he believes he has the authority to use the 14th Amendment to address the debt ceiling, but legal challenges could still lead to default. Congressional leaders have agreed that the nation will not default, giving Biden hope that invoking the 14th Amendment may not be necessary. More: - Biden stated that he is looking into the 14th Amendment as a potential solution, but the timing and possible appeals could still result in default.
- The 14th Amendment has been a subject of debate among legal experts and administration officials as the U.S. approaches the risk of default.
- Proponents argue that the phrase "shall not be questioned" regarding the validity of the public debt of the United States allows the president to issue debt without congressional action.
- Treasury Secretary Janet Yellen has warned that using the 14th Amendment could trigger a constitutional crisis if Congress fails to act.
Zoom Out: - President Biden and Republican House Speaker Kevin McCarthy will meet to discuss the debt ceiling on Monday, following a "productive" phone call, the two sides said on Sunday.
- June 1 is the deadline when the Treasury Department has warned that the federal government could not pay all its debts.
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| 2 | | 
What the numbers say: China and India have the world's largest populations, with both around 1.4 billion, according to DSW (German: Deutsche Stiftung Weltbevölkerung). The U.S. is a distant third, with an estimated population of 332 million. India and China over 70 years have accounted for more than a third of the global population.
Relevance: According to United Nations Population Fund (UNFPA), India will surpass China this year as the most populous nation. In November 2022, the UN announced that the human population had surpassed 8 billion, and it is expected to reach approximately 11 billion by the end of the century, indicating significant growth and implications for various aspects of society, including resources, infrastructure, and sustainability.
Where to see the impact: India's rise to the top emphasizes its growing significance in demographics, the labor force, and the consumer market, which can reshape global dynamics. India's population more than tripled in the six decades after independence — from 361 million people in 1951 to more than 1.2 billion in 2011. By the end of the century, more than eight out of every 10 people will live in Asia or Africa. | | | |
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| 3 | | Greece's conservative PM Kyriakos Mitsotakis and his New Democracy party have won national elections significantly, just five seats short of a majority. The election outcome reportedly reflects a desire for a change in Greek politics and a recognition of Mitsotakis' leadership during his four years as PM. More: - New Democracy secured nearly 41% of the vote, while Alexis Tsipras' center-left party, Syriza, obtained only 20%.
- The election results indicate that Greek voters have given a mandate to New Democracy for a four-year government without the need for coalition partners.
- With 88% of the results counted, New Democracy is projected to win 145 seats, requiring them to seek additional seats to reach a majority of 150.
- Pasok, the socialist rival of Syriza, won 12% of the vote and could become a potential coalition partner for New Democracy.
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| 4 | | Scientists have discovered "the first freeway system in the world," uncovering 417 interconnected cities in Guatemala dating back roughly 3,000 years. According to a joint U.S.-Guatemalan archaeological study, this discovery challenges previous assumptions about the ancient Mayan civilization that highlights its advanced socio-economic organization and political power, the Washington Post reported. More: - The findings represent a significant advancement in understanding human history, comparable in impact to the discovery of the Egyptian pyramids.
- The discovery challenges the perception of the Mayans as a nomadic, hunter-gatherer society.
- The El Mirador jungle region in southern Guatemala, where the find was made, is accessible only by helicopter and a challenging hike through dense rainforest.
- Lidar technology played a crucial role in mapping the area, enabling the identification of ancient structures, dams, reservoirs, pyramids, and causeway networks.
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| 5 | | G7 leaders called on China to pressure Russia to end its military aggression in Ukraine during the summit in Hiroshima. The joint statement urged China to use its influence to stop Moscow's war on Ukraine and withdraw its troops immediately and unconditionally. More: - The G7 summit hosted leaders from the U.S., U.K., France, Germany, Italy, Canada, and host nation Japan, as well as other countries, including Australia, India, and South Korea, and an in-person visit from Ukrainian President Volodymyr Zelenskyy.
- The leaders encouraged China to support a just and lasting peace based on territorial integrity and the principles of the U.N. Charter through direct dialogue with Ukraine.
- Concerns have been raised about China potentially providing lethal aid to Russia during the conflict, given the closer partnership between Beijing and Moscow.
- The G7 leaders affirmed their support for Ukraine in the face of Russia's illegal war of aggression and condemned Moscow's actions as a threat to the international community.
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| 6 | | Blackstone has acquired International Gemological Institute (IGI), a jewelry certification firm, from China's Fosun and the Lorie family for approximately $530M. With 29 laboratories and 18 gemology schools in 10 countries, IGI is a leader in certifying natural, lab-grown, and colored stones. More: - Blackstone purchased an 80% stake in IGI from Fosun and the remaining 20% from the Lorie family.
- The total consideration of the disposal, as stated by Fosun, was $569.65M.
- The acquisition allows Fosun to focus more resources on development strategies.
- India's jewelry market, where most of IGI's revenue and profits come from, was valued at $78.5B in the 2021 financial year.
Zoom Out: - KPMG, Simpson Thacher & Bartlett, and Cyril Amarchand Mangaldas reportedly provided advisory services to Blackstone.
- The news was announced in a statement from Fosun subsidiary Shanghai Yuyuan Tourism Mall.
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- Ukrainian President Volodymyr Zelenskyy says the Ukrainian city of Bakhmut is "only in our hearts" after Russia claimed seizure with the assistance of Wagner forces.
- The NAACP issued a travel advisory discouraging tourists from visiting Florida to protest Gov. Ron DeSantis' policies, which the civil rights group claim are "hostile to black Americans."
- Jeffrey Epstein threatened to expose an affair Bill Gates allegedly had with a Russian bridge player in 2010 when the Microsoft co-founder declined to join his philanthropic venture, according to a report on Sunday.
- China banned the sale of chips from U.S.-based Micron Technology in a retaliatory move for Washington's attempts to block China from getting high-end chips.
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| 8 | | Art of the Day 
"Animal Farm" by Pawel Kuczyński (2013) | | | |
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 | Writer | | This newsletter was curated by Vildana. You can reach her at vildana@inside.com or connect with her on Twitter. | | This newsletter was edited by Aaron Crutchfield | |
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