Brigadoon Daily
Your daily dose of the emerging issues + independent thinkers shaping commerce + culture
November 16, 2021
Artificial Intelligence, Bannon, Croatia
TOP FIVE
1. Don’t call it a ‘summit’
2. Kamala Harris goes unnoticed in Paris
3. AI startups raised $17.9B in funding in Q3’21
4. Christopher Walken destroys Banksy painting on BBC comedy show
5. Yikes, the Patriots look good again
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GLOBALIZATION + STATECRAFT
What the big Glasgow deal really achieved
Bloomberg
Regrets linger over the big climate deal: The nearly 200 countries that attended COP26 agreed to work on reducing carbon emissions and to return next year with more aggressive goals. But the pact stopped short of calling on countries to phase out coal use and will fail to meet the summit’s target of preventing Earth from heating more than 1.5 degrees Celsius compared with preindustrial levels.
COP26 deal offers relief for rich nations but vulnerable fear ‘death sentence’: Geopolitical drama gives way to concessions but agreement falls short of Paris accord goals.
FT
Bloomberg: 14 million tons a day show why China and India won’t quit Coal
+ Power plant projects mean fuel will retain role in energy mix
+ Nations made last-minute defense of coal’s future at COP26
Scotland’s whisky makers admit net zero targets will be hard to hit: Distilleries search for ways to cut high-energy production methods amid concern about peatland erosion.
FT
Politico: Don’t call it a ‘summit’: Biden-Xi meeting brings low expectations
Today: National security adviser Jake Sullivan will provide a readout of the Biden-Xi video call at 10:00 am at the Brookings Institution.
Chinese embassy lobbies US business to oppose China bills - sources: Reuters reports China has been pushing US executives, companies, and business groups in recent weeks to fight against China-related bills in the US Congress, four sources familiar with the initiative told Reuters, in letters to and meetings with a wide range of actors in the business community.
China’s nuclear build-up: ‘one of the largest shifts in geostrategic power ever’: The US believes Beijing will quadruple its warhead arsenal by 2030. Could this alter the balance of power in Asia?
FT
Why is China building up its nuclear arsenal?
Tong Zhao
SCMP: China signals overhaul of GM crop rules in food security drive
+ The Ministry of Agriculture has proposed a series of regulatory changes to enhance the competitiveness of China’s seed industry
+ Concerns about food supply have heightened over the past 18 months amid coronavirus disruptions and rivalry with the US
Japan’s economy contracts: The country’s GDP shrank in the third quarter by an annualized rate of 3 percent, after having grown slightly in the spring.
US won't join CPTPP but will seek new framework: Raimondo: Commerce chief says Biden administration ready to cooperate on digital technology and supply chains.
Nikkei
Imprisoned US journalist released in Myanmar: Politico reports Danny Fenster was arrested in May in the aftermath of a military coup in the Southeast Asian nation.
Explainer: Who is Eric Zemmour, France’s wannabe Donald Trump? The populist, anti-immigrant provocateur is outflanking Marine Le Pen.
Economist
What happens if the UK withdraws from Northern Ireland Brexit deal? Permanent trading solutions for the EU and UK are a long way off.
Politico
If we falter the Balkans will explode again: The West must face down the cold stare of Putin or simmering ethnic tensions in Bosnia will plunge Europe into crisis.
William Hague
Bloomberg: US, allies weigh reprisals if Russia moves against Ukraine
+ US, Europe seek to prepare a potential coordinated response
+ Comes as Russian troops again mass near Ukraine border
Ukraine: NATO alarmed by Russian troop buildup on border: DW reports the military alliance has urged Russia to be "transparent about its military capabilities" on its border with Ukraine. Meanwhile, Germany has called on Moscow to exercise "restraint."
Russia’s dangerous build-up around Ukraine: The EU and US must find ways to deter renewed aggression by Moscow.
FT - Editorial
The crypto capital of the world: It has to be somewhere. Why not Ukraine?
NYT
'You can't even cry loudly': Counting Ethiopia's war dead
AP
POLITICS + CAMPAIGNS
WP: Biden signs $1.2 trillion infrastructure bill, fulfilling campaign promise and notching achievement that eluded Trump
AP: Biden signs $1T infrastructure deal with bipartisan crowd
+ “Republicans and Democrats gathered at the White House on Monday as Biden signed the legislation, which is aimed at improving the country’s roads, bridges, pipes, ports and Internet connections.”
+ Biden named former New Orleans Mayor Mitch Landrieu (D) to supervise the roughly $1 trillion infrastructure bill.
Today: Biden will travel to Woodstock, NH, to visit a bridge and deliver remarks.
Biden got his bipartisan win. Now, reality sets in. President Biden, who is facing low approval ratings, hopes the infrastructure bill will help him project sustained progress in confronting a surge in inflation and growing alarm about the midterm elections.
NYT
Kamala Harris goes unnoticed in Paris: One thing was missing in the US vice president’s French trip: the French.
Politico
Biden-successor chatter grows and Harris isn’t scaring off anyone: There’s been an unusual amount of 2024 talk for a president who says he’s running again. It hasn't been uniformly positive for his vice president.
Politico
The Hill: Steve Bannon surrenders after indictment on contempt of Congress charges
+ As he entered into federal custody on Monday, Bannon briefly spoke to supporters on a livestream on the right-wing Gettr platform. “I want you guys to stay focused, stay on message. Remember signal, not noise”
DC's new top cop vs. Steve Bannon: Politico reports Matthew Graves has represented Ben Carson and Gazprom — but overseeing hundreds of Jan. 6 prosecutions will bring a different level of scrutiny.
In wake of Bannon indictment, Republicans warn of payback: WP reports GOP lawmakers say Democrats, by pursuing contempt charges against a Trump ally, are paving the way for them to go after Biden aides if they retake the House in 2022.
Steve Bannon’s indictment is the fight both sides want: Few people relish being indicted. But Bannon isn’t a normal ex-White House official.
Bloomberg
+ Wyoming’s Republican Party voted to no longer recognize Rep. Liz Cheney as a member of the GOP.
The Steele Dossier indicted the media
Bill Grueskin
VT-SEN: Sen. Pat Leahy (D) announced his retirement. He’s currently the longest-serving Senator.
TX-GOV: Former Rep. Beto O’Rourke (D) announced he is running for governor.
SD-GOV: Gov. Kristi Noem (R) announced on Friday that she will seek reelection in 2022.
+ A full 30% of Americans say our system of government is not sound at all and needs significant changes in a new Monmouth poll.
Peter Thiel anonymously purchased former Commerce Secretary Wilbur Ross’s Washington, DC home for $13 million, Politico reports.
+ The Trump Organization agreed to sell its Washington hotel for at least $375 million.
DISRUPTION + INNOVATION
The power grid is just another casino for energy traders: When GreenHat Energy collapsed after blowing millions speculating on power prices, it became plain: Energy traders are essentially gambling, and ratepayers back every bet.
Bloomberg
COMMERCE
Unable to win Beijing’s approval, Fortnite gives up on China: Bloomberg reports the government’s hostility to the industry is weakening prospects for game makers.
Beijing stock exchange launches with some big first-day gains: WSJ reports China hopes the venue will channel funds into innovative smaller companies, as it tightens its grip on companies seeking listings overseas.
+ Artificial intelligence startups raised $17.9B in funding in Q3’21, a new global funding record.
Shell proposes a shift to Britain, dropping ‘Royal Dutch’ from its name.
NYT
Shell to move headquarters to London amid energy transition: WSJ reports Royal Dutch Shell plans to consolidate its dual British and Dutch structure and relocate its headquarters to London, a move it said would help facilitate returns to shareholders and make it simpler to change its portfolio of assets.
Dutch government scrambles to keep Shell in Netherlands: FT reports a last-ditch push to scrap dividend tax that has been cited by energy group as the reason for planned UK move.
Hermès Birkin bags’ annual average return has outpaced both the S&P 500 and gold since their debut in 1981, according to a 2016 study.
+ The most active 25% of tweeters by tweet volume produce 97% of all tweets from US adults on Twitter.
Oatly shares tumble as plant-milk maker warns on revenues: FT reports the Swedish group says a combination of slower production in the US and higher costs have taken a toll.
Ohio sues Meta over impact on children: WSJ reports Ohio’s attorney general is suing Meta Platforms, alleging it misled the public about how it controlled its algorithm and the effects its products have on children.
Best books of 2021: Business
FT
SPACE + SCIENCE
'Irresponsible act': The US raps Russia after a missile strike on its own satellite: Politico reports the resulting debris field forced astronauts and cosmonauts aboard the International Space Station to seek shelter.
Russian anti-satellite missile put astronauts at risk, US says: FT reports the US State Department says test created thousands of pieces of debris that threatened people at International Space Station.
Best books of 2021: Technology
FT
CULTURE
Christopher Walken destroys Banksy painting on BBC comedy show: A genuine painting by Banksy, the street artist whose work has sold for millions, was gone in seconds as the actor painted over the artwork as a gag on the show.
NYT
Bloomberg: Paramount’s ‘Yellowstone’ premiere draws 14.7 million viewers
+ The season four premiere attracted a total audience of 14.7 million people Sunday night, about 400,000 more than the NFL game that evening, according to a statement Friday from ViacomCBS Inc.
The De Tomaso Mangusta is virtually extinct. That’s what makes it so appealing: The Italian-designed mongoose is tricky, uncomfortable, needs loads of components – and has never been so popular.
FT
SPORT
Nations qualified for the World Cup finals 2022 so far:
Qatar (host) 🇶🇦
Germany 🇩🇪
Denmark 🇩🇰
Brasil 🇧🇷
Belgium 🇧🇪
France 🇫🇷
Croatia 🇭🇷
Spain 🇪🇸
Serbia 🇷🇸
England 🏴
Switzerland 🇨🇭
AFP: Italy in World Cup play-offs after Northern Ireland stalemate
The whirlwind of a rising Daniil Medvedev: He won his first Grand Slam this year and is ranked No. 2, and his impressed peers call him a genius and an octopus.
NYT
Yikes, the Patriots look good again: New England thumps Cleveland to win its fourth in a row—and Pats optimists are talking with a straight face about Super Bowl chances.
Jason Gay
Enjoy the ride + plan accordingly.
-Marc
Curation and commentary by Marc A. Ross | Founder @ Brigadoon
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