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| Hey Insiders! Today's Inside Daily Brief covers the news about South Africa urging Putin to halt the war and Intel's $25B deal in Israel. Plus, NASA discovered a key building block of life on Saturn's moon. I hope you find this story as fascinating as I did! Scroll down for some "Quick Hits" and "Art of the Day." Let us know what you'd like to see more of. Cheers, Vildana
p/vildana-b | |
| 1 | | South African President Cyril Ramaphosa, part of a peace-seeking delegation, urged Russian President Vladimir Putin to end the war in Ukraine. Ramaphosa presented a 10-point African peace initiative, emphasizing the need for negotiations and diplomatic means to settle the conflict. More: - Putin responded by listing his reasons for considering the proposals misguided, claiming that Ukraine and the West instigated the conflict.
- The African delegation, consisting of leaders from Egypt, the Republic of the Congo, Senegal, Zambia, Uganda, and Comoros, held talks with Ukrainian President Volodymyr Zelenskyy in Kyiv.
- African countries have varied responses to the conflict, some supporting Ukraine, while others remain neutral or inclined towards Russia.
- During the meeting with Zelenskyy, the Ukrainian president requested the African leaders to urge Putin to release political prisoners as a confidence-building measure.
Zoom Out: - The South African government, led by Ramaphosa, is facing increasing pressure from the U.S. over accusations of supporting Russia's war, particularly concerning allegations of an arms shipment to Moscow, which South Africa has refuted.
- Russia's Wagner Group has intervened in the affairs of several African countries, providing military and security support while expanding Moscow's influence across the continent.
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What the numbers say: As of the beginning of 2023, Novartis, a Swiss pharmaceutical company, held the highest number of originated drugs worldwide, followed by Roche, also Swiss. New York-based Pfizer held third place among the leading pharmaceutical companies worldwide. Relevance: Scope Group, a financial ratings firm, reports that the world's 10 largest pharmas collectively have $120B in cash on their balance sheets. AbbVie led in revenue within the U.S. in 2021, followed by Pfizer and Bristol-Myers Squibb. Under CEO Albert Bourla, Pfizer is projecting revenue of $67B-$71B for 2023, a noticeable decline from its record-breaking $100B peak in 2022. Influence: Pfizer is facing a penicillin shortage due to increased demand and more diagnoses of syphilis, the company recently announced in a letter to its customers. According to The Brookings Institution, the scarcity of penicillin in the U.S. is part of a long-term shortage of prescription drugs caused by supply chain disruptions, including the recent pandemic. | | | |
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| 3 | | Israeli Prime Minister Netanyahu announced Intel's $25B investment in Israel, marking the largest-ever international investment in the country. U.S. chipmaker Intel Corp will build a new factory in Kiryat Gat, Israel. More: - The factory is set to open in 2027 and operate until at least 2035, generating employment opportunities for thousands of people.
- Intel's investment will be subject to a 7.5% tax rate, an increase from the current 5% rate.
- Intel has been a key player in Israel's electronics and information industry, serving as the country's largest private employer and exporter.
- In 2017, Intel acquired Israel-based Mobileye Global Inc for $15B, further strengthening its presence in the country.
Zoom Out: - Mobileye, which counts BMW, Nissan, and Volkswagen as its customers, listed on the Nasdaq last year after raising $861M in an initial public offering.
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| 4 | | Scientists have discovered abundant phosphorus, a fundamental building block of life, in the ocean beneath Saturn's moon Enceladus, based on NASA's Cassini probe data. The finding was published in Nature and is considered a significant discovery for astrobiology. More: - The presence of phosphorus, an essential element for DNA and RNA, suggests the potential for life on Enceladus.
- Enceladus' south pole geysers eject icy particles that feed Saturn's E ring, and previous studies have found other minerals and organic compounds in these particles.
- Confirming phosphorus in the subsurface ocean expands our solar system's understanding of habitable bodies.
- Planetary scientists now aim to investigate Enceladus further to determine if its habitable ocean is inhabited.
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| 5 | | The U.S. and China agreed to continue talks despite unresolved disagreements, as Secretary of State Antony Blinken secured a visit to Washington by Chinese Foreign Minister Qin Gang. However, progress on other issues remains ongoing. More: - Blinken's visit to China aimed to cool tensions and potentially pave the way for a meeting between President Joe Biden and Chinese leader Xi Jinping.
- The discussions covered various contentious matters, including trade, Taiwan, human rights, Chinese military assertiveness, and the conflict in Ukraine.
- Blinken urged China to release detained American citizens and address the production and export of fentanyl precursors contributing to the opioid crisis in the U.S.
Zoom Out: - Blinken's two-day trip came amid frosty bilateral ties and a suspected spy balloon above the U.S. in February that prompted him to delay the trip planned the same month.
- The relationship between Beijing and Washington has experienced a decline, raising concerns of potential military clashes over Taiwan, a self-ruled island that China considers its territory.
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| 6 | | A heat wave has claimed nearly 100 lives in two populous Indian states, Uttar Pradesh and Bihar. Uttar Pradesh reported 54 deaths in the Ballia district, primarily among individuals aged 60 and above with preexisting health conditions aggravated by the intense heat. More: - Over the past three days, around 300 patients were admitted to the district hospital in Ballia for heat-related ailments.
- Medical personnel in Ballia had their leave canceled, and additional beds were provided in the emergency ward to accommodate the influx of patients.
- Residents described an increased flow of patients in hospitals and a deserted appearance on roads and in markets.
- The high temperature in Ballia hit 109 degrees Fahrenheit on Sunday, well above the usual high of 100. Further, the relative humidity was 25%, making for a heat index of 116F.
- Similar conditions are expected on Monday.
Zoom Out: - Experts are warning against a potentially deadly heat-beating hack going viral on TikTok, in which users place a frozen towel over a fan so it blows cold air.
- Experts said once the towel thaws, the water in it could be pulled into the fan's motor, increasing the risk of electric shock.
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- Two people were killed in a mass shooting near Washington's Gorge Amphitheatre during the Beyond Wonderland music festival.
- June 18 marks the 40th anniversary of Sally Ride, the first American woman to travel to space aboard the space shuttle Challenger in 1983.
- The National Hurricane Center announced another increased chance of development for a system forming in the eastern Atlantic.
- The Paris Air Show returns on Monday during a surge in air travel demand, with airlines starving for jets to feed it.
- A mass shooting at a Juneteenth celebration in suburban Chicago saw 23 people injured, one fatally.
- SVB Financial Group, the bankrupt parent company of the failed Silicon Valley Bank, has agreed to sell its investment banking division.
- A Department of Justice report on the Minneapolis Police Department, released three years after George Floyd's murder by an MPD officer, found that Minneapolis police officers for years used excessive force, disproportionately targeted Black and Native American residents, and repressed the rights of protesters and journalists.
- Binance and the SEC reached a deal to keep customer assets in the country and avoid an asset freeze.
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