Saturday, February 17, 2024

Feb 17, 2024 - Navalny's Death Raises Tensions Between U.S. and Russia

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TradeBriefs Editorial

From the Editor's Desk

How Alexei Navalny defied Putin - The Economist (No paywall)

ALEXEI  NAVALNY did not like tragedies. He preferred Hollywood films and fables in which heroes vanquish villains and good triumphs over evil. He had the looks and talent to be one of those heroes, but he was born in Russia and lived in dark times, spending his last days in a penal colony in the Arctic permafrost. A fan of “Star Wars”, he described his ordeal in lyrical terms. “Prison [exists] in one’s mind,” he wrote from his cell in 2021. “And if you think carefully, I am not in prison but on a space voyage…to a wonderful new world.” That voyage ended on February 16th.

Continued here


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Navalny’s Death Raises Tensions Between U.S. and Russia  
  

Navalny’s Death Raises Tensions Between U.S. and Russia
Mr. Biden is seeking to make the case for American leadership in the world and reassure European allies that the United States still has their back. He sent Vice President Kamala Harris and Secretary of State Antony J. Blinken to the Munich Security Conference in Germany this week to defuse fears of an American retreat. But the mood in Munich was dark even before reports of Mr. Navalny’s death. American attendees said everywhere they went, they were besieged by distraught Europeans.


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After Navalny: 'They will arrest the activists . . . then everything will die out' - FT (No paywall)  
  

After Navalny: 'They will arrest the activists . . .  then everything will die out'
Opposition figure’s death leaves Russia’s Putin with ‘absolute’ power






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The extraordinary courage of Alexei Navalny - FT (No paywall)  
  

Activist’s death shows political violence is again a tool of punishment in Russia


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Sequoia looks to oust Michael Moritz from Klarna in boardroom dispute - FT (No paywall)  
  

Discontent over governance puts pressure on CEO of buy now, pay later pioneer as it prepares for IPO




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How The Body Shop unravelled in 3 months - FT (No paywall)  
  

Private equity firm Aurelius stunned the high street by placing UK retailer into administration soon after buying it


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Ex-Goldman Sachs analyst jailed for 22 months for insider trading - FT (No paywall)  
  

Judge tells Mohammed Zina that his crime ‘struck at heart of financial markets’




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OpenAI's 'Sora' Has Rivals In The Works—Including From Google And Meta - Forbes (No paywall)  
  

OpenAI's 'Sora' Has Rivals In The Works—Including From Google And Meta
ChatGPT maker OpenAI stepped up the race in generative artificial intelligence Thursday when it unveiled its text-to-video generation tool, Sora, viewed as an impressive but potentially dangerous step in the booming AI economy amid concerns about disinformation spread.


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Unproductive Fridays are a $1.9 trillion problem and some companies are banning meetings to get more stuff done - Fortune (No paywall)  
  

Unproductive Fridays are a $1.9 trillion problem and some companies are banning meetings to get more stuff done
Hibaaq Abdillahi says meeting-free Fridays have dramatically boosted productivity at Oyster, a human resources firm where the 32-year-old brand manager works. At previous jobs, she had Summer Fridays, but that did little to relieve the feeling of being “just ready to be done” by the week’s end.




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Opinion | What Feckless Americans Can Learn From Navalny’s Bravery  
  

Opinion | What Feckless Americans Can Learn From Navalny’s Bravery
Navalny was Russia’s foremost dissident and opposition leader but also emerged as something of a Mandela of our age. Despite being poisoned and repeatedly punished with long bouts of isolation in remote prisons, Navalny stood unbroken. He continued to mock Putin and denounce the invasion of Ukraine.


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Opinion | Donald Trump, the Business Fraud  
  

Opinion | Donald Trump, the Business Fraud
And now a corrupt and obviously mentally decaying reality-television star threatens to crack open those terrible gates, to the raucous cheers of his devoted fans. I have concerns about Joe Biden, but no matter his condition next term, one thing I do know: He will not endanger America by destroying our most vital alliance.




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Banner week for billionaire investor Carl Icahn – a total of four board seats at JetBlue and American Electric Power will go to deputies as Icahn celebrates his 88th birthday  
  

Banner week for billionaire investor Carl Icahn – a total of four board seats at JetBlue and American Electric Power will go to deputies as Icahn celebrates his 88th birthday
Meanwhile, Icahn’s $120 million stake in AEP yielded board seats for Icahn Enterprises senior managing director Hunter Gary, who joined the AEP board along with Henry Linginfelter, former executive vice president of Southern Company Gas.


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Anthony Albanese says Alexei Navalny's treatment 'unforgivable' and Putin responsible for his death  
  

Anthony Albanese says Alexei Navalny's treatment 'unforgivable' and Putin responsible for his death
The death of Alexey Navalny is a personal tragedy for his family and a depressing reminder of how many people are not free. But it is hard to take seriously the protests of the American Government while they hold Julian Assange as an effective political prisoner. Free…




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'It went nuts': Thousands join UK parents calling for smartphone-free childhood  
  

'It went nuts': Thousands join UK parents calling for smartphone-free childhood
"They can live their childhood as they should do, focus on their learning and enjoy the real world without having to spend their life scrolling, which we all know is not good for them."


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Nike lays off more than 1,500 people as CEO says 'I ultimately hold myself and my leadership team accountable' - Fortune (No paywall)  
  

Nike lays off more than 1,500 people as CEO says 'I ultimately hold myself and my leadership team accountable'
In a widely reported memo announcing the 2% cut to Nike’s workforce, Donahoe added that he didn’t take the decision to lay off thousands of employees lightly and put some of the blame for Nike’s recent underperformance on himself and the company’s leadership. Portland, Ore.-based publication Willamette Week was first to report Donahoe’s comments in the memo.




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Avdiivka, Longtime Stronghold for Ukraine, Falls to Russians  
  

Avdiivka, Longtime Stronghold for Ukraine, Falls to Russians
“In a situation where the enemy is advancing on the corpses of their own soldiers with a 10-to-1 shell advantage, under constant bombardment, this is the only correct solution,” he said in a statement.


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Israel Was Behind Attacks on Major Gas Pipelines in Iran, Officials Say  
  

Israel Was Behind Attacks on Major Gas Pipelines in Iran, Officials Say
Mr. Owji, who had previously referred to the blasts as “sabotage and terrorist attacks,” stopped short of publicly blaming Israel or any other culprit. But he said that the goal of the attack was to damage Iran’s energy infrastructure and stir domestic discontent.




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Opinion | How Trump Turns His Courtroom Losses Into Wins  
  

Opinion | How Trump Turns His Courtroom Losses Into Wins
He had no obligation to be there, and the barricades were for his protection. But the picture of Mr. Trump behind the barricades ran repeatedly, on news sites all over the world. His fund-raising emails mentioned the court appearances; he talked about them on the campaign trail.


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Germany's Scholz commits to spending 2% on defense 'in the 2020s, in the 2030s and beyond'  
  

Germany's Scholz commits to spending 2% on defense 'in the 2020s, in the 2030s and beyond'
Expert estimates suggest the government would need to find 25-30 billion euros per year to meet that goal, according to the Financial Times, likely leading to cuts in welfare spending. Germany is one of the few countries with a borrowing cap inscribed in its constitution.


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Yemen's Houthis say they targeted oil tanker Pollux  
  

Yemen's Houthis say they targeted oil tanker Pollux
The Houthis have launched repeated drone and missile attacks against international commercial shipping in the Red Sea and the Bab al-Mandab Strait since mid-November, saying they are acting in solidarity with Palestinians as Israel wages war on Hamas.


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Japan launches second flagship H3 rocket a year after inaugural flight self-destructed  
  

Japan launches second flagship H3 rocket a year after inaugural flight self-destructed
Last month marked the successful inaugural flight of the United Launch Alliance’s Vulcan rocket, a joint venture between Boeing and Lockheed Martin. The European Space Agency also plans to launch its lower-cost Ariane 6 for the first time this year.


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Second Sydney primary school among four more sites testing positive for asbestos contamination  
  

Second Sydney primary school among four more sites testing positive for asbestos contamination
Greenlife has insisted it is not responsible for the contamination and that multiple rounds of testing by independent laboratories showed their mulch was free from asbestos before it was distributed to customers.


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Sydney asbestos mulch sites: map and full list of locations where asbestos has been found  
  

Sydney asbestos mulch sites: map and full list of locations where asbestos has been found
All of the mulch found to be contaminated has been supplied by the landscaping products manufacturer Greenlife Resource Recovery. Greenlife has said it “maintains that mulch leaving GRRF’s facility has tested negative for asbestos”.


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'He was our hero': six Russians on the death of Alexei Navalny  
  

'He was our hero': six Russians on the death of Alexei Navalny
His death doesn't feel shocking. We are used to sudden deaths here. Navalny is the single most charismatic politician in contemporary Russian history, but we have been ready to grieve him for a long time now.


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Spain's conservative party fears defeat in its Galician heartland  
  

Spain's conservative party fears defeat in its Galician heartland
The PP has attacked Pontón by unconvincingly comparing BNG to the defunct Basque terrorist organisation Eta, but its own campaign has been overshadowed by the revelation last weekend that Feijóo favours a conditional amnesty for the former Catalan president Carles Puigdemont and others involved in the illegal 2017 push for independence.


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Alexei Navalny death: protesters gather across Europe to express outrage and denounce Putin  
  

Alexei Navalny death: protesters gather across Europe to express outrage and denounce Putin
Navalny’s wife, Yulia, was on Friday in Munich, where a vigil also took place. She told the Munich Security Conference she could not be sure her husband was dead because “Putin and his government … lie incessantly” but that if confirmed Putin should be held accountable.


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Middle East crisis live: fears grow for key Gaza hospital as patients die after Israeli raid  
  

Middle East crisis live: fears grow for key Gaza hospital as patients die after Israeli raid
Russia has invited Hamas and other Palestinian factions including Fatah to Moscow for talks on the Israel-Gaza war and other issues in the Middle East from 29 February, the state-run Tass news agency reported, citing deputy foreign minister Mikhail Bogdanov.


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Patients with chronic illnesses in Gaza failing to get treatment, doctors warn  
  

Patients with chronic illnesses in Gaza failing to get treatment, doctors warn
The Cogat spokesman said: “Since the outbreak of the war, over 13,200 aid trucks have passed into the Gaza Strip … carrying more than 160,200 tons of food, over 22,000 tons of water … [and] over 17,000 tons of medical supplies and hygiene products.”


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Failure to fix council funding crisis threatens Tory election pledge, adviser warns  
  

Failure to fix council funding crisis threatens Tory election pledge, adviser warns
“This additional funding has been welcomed by leading local government organisations – but we remain ready to talk to any concerned council about its financial position,” the spokesperson said.


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'We block 10 people a day': culture war trolls add to UK vegan restaurants' struggles  
  

'We block 10 people a day': culture war trolls add to UK vegan restaurants' struggles
V Rev Manchester One of Manchester's first and most popular vegan diners, V Rev closed in December 2022. Its owner, Dominic Moss, blamed crippling costs and a reduction in lunchtime trade. "I think hospitality has just taken such a battering over the last few years and unless you're part of a chain or have really deep pockets, it's just going to get harder and harder," he said.


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Sunak urged to block anyone convicted of sexual offences from standing as MP  
  

Sunak urged to block anyone convicted of sexual offences from standing as MP
Labour has not clarified if it would roll out such measures in government, if the Conservatives fail to do so. But Lucy Powell, the shadow Commons leader, said “the government should stop dragging their feet and do so without delay” in rolling out a risk-based exclusions policy.


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With business empire on brink of abyss, tycoon Trump recasts himself as victim  
  

With business empire on brink of abyss, tycoon Trump recasts himself as victim
On the campaign trail and social media, in the courtroom and the inboxes of supporters, the former president has repeatedly pledged to fight what he argues is a gross injustice. On Friday Trump once again attacked the “tyrannical Abuse of Power” he claims is arrayed against him and the “liquid and beautiful Corporate Empire that started in New York, and has been successful all around the world.”


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Stock Bulls Turn to Europe for Cheap Alternative to Magnificent Riches  
  

Stock Bulls Turn to Europe for Cheap Alternative to Magnificent Riches
Finally, while Europe lacks tech mega-stars such as Apple Inc. and Nvidia Corp., the region is still capitalizing on the frenzy around AI via firms such as ASML, ASM International NV and BE Semiconductor Industries NV. Bets that the surge in AI-related investment will spur demand for chip-equipment makers has sparked a rally of over 50% in those three stocks since the end of October.


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Wall Street just can't get enough of Nvidia  
  

Wall Street just can't get enough of Nvidia
“Maybe we’ll see a bit of a split in the Magnificent Seven,” she added, referring to the group of tech stocks that drove the bulk of the S&P 500’s returns in 2023. “But Nvidia will be really leading the way.\"


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High-flying Nvidia’s earnings could test US stock market’s AI dreams  
  

High-flying Nvidia’s earnings could test US stock market’s AI dreams
Ryuta Makino, research analyst at Gabelli Funds, believes investor enthusiasm for Nvidia is so high that its shares could fall by at least 10% if the company simply meets expectations, without exceeding them.


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