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Nov. 22, 2024 – Daily News Digest
US President John F. Kennedy is assassinated in Dallas on this day in 1963; Vice-President Lyndon B. Johnson is sworn in as president later that day.
Quote of the Day: “We have already explored every possible avenue in negotiating with the U.S.,” [Kim Jong Un] was quoted as saying during a speech at a defense expo in the capital Pyongyang on Thursday. What has become clear, he added, is the U.S.’s “unchanging aggressive and hostile policy” toward North Korea.
Photo of the Day: This is a favorite from one of our researchers, Quinn – https://www.lbjlibrary.org/
HUNGARY/ISRAEL/ICC – Orban invites Netanyahu to Hungary as ICC warrant divides Europeans
https://www.reuters.com/world/
BUDAPEST, Nov 22 (Reuters) – Prime Minister Viktor Orban invited Israel’s Benjamin Netanyahu on Friday to visit Hungary but several other European nations said the Israeli premier would be detained if he set foot on their soil, following the issuing of an arrest warrant for him.
The International Criminal Court issued arrest warrants on Thursday for Netanyahu, his former defence chief Yoav Gallant, and for a Hamas leader, Ibrahim Al-Masri, for alleged war crimes and crimes against humanity in the Gaza conflict.
UKRAINE/RUSSIA/MIL/POL – Ukraine Cancels Parliament Session, Citing a Warning Over a Missile Attack
https://www.nytimes.com/2024/
Ukraine’s Parliament canceled a session on Friday over a warning that Russia could target the building in an attack with a missile that Ukraine’s air defenses cannot shoot down, lawmakers said.
Although they did not say which type of missile they were worried about, the decision to cancel the session came a day after Russia fired what it described as a new, intermediate-range missile. Ukraine has no radars capable of detecting those missiles in flight through the upper atmosphere, nor air defense systems capable of shooting them down, Ukrainian experts have said.
Since the start of the war, Parliament has continued meeting in its chambers, even in the first months of the conflict, when Russian forces were just 12 miles from the center of the capital. But on Friday, Parliament decided not to take the risk.
“They canceled it late last night, citing the danger of a missile strike,” Oleksiy Honcharenko, an opposition member of Parliament, said of the planned session.
IRAN/IAEA/NUKES/NEGATIVE ATTENTION – Iran says activating ‘advanced’ centrifuges after IAEA censure
https://www.aljazeera.com/
Iran has said it will activate “new and advanced” centrifuges in response to a resolution adopted by the International Atomic Energy Agency (IAEA) board censuring it for lack of cooperation.
The motion was put forward by France, Germany, the United Kingdom and the United States at the 35-nation board of the United Nations nuclear watchdog and follows a similar one in June, criticised then by Iran as “hasty and unwise”.
BRAZIL/POL/SEC – Brazilian police indict Bolsonaro for alleged attempted coup, threatening his political career
https://apnews.com/article/
SAO PAULO (AP) — Police indicted Brazil’s former president Jair Bolsonaro and 36 others for allegedly attempting a coup to keep the right-wing leader in office after his defeat in the 2022 election. Already barred from running again in 2026 for a different case, he could now land in jail and see his influence further diminished.
Brazil’s federal police said the sealed findings in Thursday’s indictment were being delivered to Brazil’s Supreme Court, which will refer them to Prosecutor-General Paulo Gonet, who will decide whether to formally charge Bolsonaro and put him on trial, or toss the investigation.
Gonet is already under pressure from his legal peers to move forward with the various investigations related to the ex-president, local media have reported. And politicians say if Bolsonaro does stand trial at the Supreme Court there will be a race among his allies and rivals to seize his influence with voters.
SOUTH KOREA/DPRK/RUSSIA/UKRAINE/MIL/
https://www.reuters.com/world/
SEOUL, Nov 22 (Reuters) – South Korea’s national security adviser Shin Won-sik said Russia has provided North Korea with anti-air missiles and air defence equipment in return for sending troops to support Moscow in its war against Ukraine.
In an interview with South Korean broadcaster SBS aired on Friday, Shin said Russia had given North Korea economic and military technology support, when asked what Pyongyang stood to gain from dispatching its troops to Russia.
DPRK/USA/MIL/DIPLOMACY – Kim Jong Un’s Message to Trump: We’re Not Interested
https://www.wsj.com/world/
SEOUL—North Korean leader Kim Jong Un appeared to rebuff the prospect of reviving his nuclear diplomacy with President-elect Donald Trump, according to his first public remarks about disarmament talks since the election.
North Korea’s state media reported Friday that the 40-year-old dictator called the U.S. a superpower that operated by force rather than a will to coexist and belittled the value that previous talks had for his cash-strapped regime.
DENMARK/SWEDEN/CHINA/THE BALTS/DANISH SUPERIORITY OVER SKAGERRAK, THE CROWN JEWEL OF EUROPE’S OLDEST MONARCHY – Danish military monitors a Chinese-flagged bulk carrier after undersea data cables were ruptured
https://apnews.com/article/
COPENHAGEN, Denmark (AP) — The Danish military confirmed Thursday it was monitoring a Chinese bulk carrier that was reportedly in the area where two undersea data cables ruptured in recent days in the Baltic Sea.
Finnish, Swedish and German authorities have launched investigations into the rupture earlier this week of two undersea cables — one between Finland and Germany, the other between Lithuania and Sweden. All are member countries of the NATO alliance.
News reports said a Chinese-flagged vessel, the Yi Peng 3, had been in the area at the time of the ruptures.
VesselFinder.com, which tracks marine ship movements, located the Danish patrol boat P525 at about one nautical mile away from the Chinese-flagged ship between Denmark and Sweden on Thursday morning Europe time.
“The Danish Defence can confirm that we are present in the area near the Chinese ship Yi Peng 3,” said Henrik Hall Mortensen, a Danish military spokesman, in an email.
EU/US/SANCTIONS/RUSSIA/ENERGY – New U.S. sanctions probably spell end of EU energy payments through Russia’s Gazprombank
https://www.reuters.com/
MOSCOW, Nov 22 (Reuters) – New U.S. sanctions on Moscow may shut down the only way European customers can pay for Russian gas, increase volatility on Russia’s FX market and push Moscow closer to Beijing’s orbit, Russian economists said on Friday.
Washington imposed new sanctions on Russia’s Gazprombank on Thursday that prevent the state-controlled lender from handling any new energy-related transactions that touch the U.S. financial system. The U.S. also targeted around 50 other Russian banks and the Bank of Russia’s System for Transfer of Financial Messages (SPFS).
GAZA/ISRAEL/SEC – In Gaza Organized Gangs Make a Bad Situation Even Worse [AUDIO]
https://www.npr.org/2024/11/
Israel has been accused of using starvation in Gaza as a weapon of war. It’s a charge the government denies, however aid groups say too little food is being allowed into Gaza. And making the problem even worse, armed gangs are looting much of the aid that is coming in. We hear more about the issue and what Israel is doing about it.
[This is a short pod-cast, but we’ve seen Hamas’ ability/interest in maintaining law and order {such as it can} deteriorate in recent weeks, especially as aid flows to northern Gaza have slowed. -mnno]
INDIA/GUYANA/ENERGY – India’s Modi seeks energy security from Guyana and its vast oil deposits
https://apnews.com/article/
GEORGETOWN, Guyana (AP) — Indian Prime Minister Narendra Modi said Thursday during a visit to Guyana that his government views the South American country as key to its energy security.
Modi spoke a day after his foreign minister said India is interested in buying up to two million barrels of crude from the oil-producing nation where vast deposits of oil and gas were found offshore nearly a decade ago.
Addressing a special sitting of Parliament at the end of his two-day trip, Modi said he views Guyana as an important energy source and that he plans to encourage large Indian businesses to invest in the country.
Guyana produces about 650,000 barrels a day of sweet, light crude oil from three oil fields, with production expected to ramp up to more than one million barrels daily, with production at three more oilfields slated to start in the next three years.
MEXICO/ECON – Slowing Mexico Inflation and Growth Open Door to Larger Cut
https://www.bloomberg.com/
Mexico’s inflation decelerated in early November while the economy continues to lose momentum, giving the central bank room to cut interest rates for a fourth straight meeting next month.
Official data published Friday showed consumer prices rose 4.56% in the first two weeks of November from the same period a year earlier, below the 4.65% median estimate of analysts surveyed by Bloomberg. The print was under the 4.83% reading in the previous two-week period.
In separate economic reports Friday, the statistics agency revised year-on-year third-quarter output to 1.6%, up from the 1.5% print in the third-quarter flash reading reported Oct. 30. Underscoring the loss of momentum at the end of the third quarter, GDP-proxy data for September fell to 0.29% from the same month a year earlier, below the 0.45% median estimate of economists surveyed by Bloomberg.
MEXICO/CANADA/CHINA – Mexico acknowledges Canada’s concerns about a Chinese auto plant, but says none exists
https://apnews.com/article/
MEXICO CITY (AP) — Mexico’s president acknowledged Thursday that Canada is concerned about reports of a Chinese company’s plan to build an auto plant in Mexico, but she said it does not currently exist.
President Claudia Sheinbaum said she talked recently to Canadian Prime Minister Justin Trudeau and that he assured her he did not support excluding Mexico from the U.S.-Mexico-Canada trade agreement.
But Trudeau said later Thursday that while having Mexico in the agreement “is my first choice,” he is “leaving all doors open” on the future of the trilateral trade pact.
“Pending decisions and choices that Mexico has made, we may have to look at other options,” Trudeau said at an appearance in Canada.
On Wednesday, provincial leaders in Canada called on Trudeau to negotiate a bilateral trade deal with the United States that would exclude Mexico.
MEXICO/CHINA/TRADE – Mexico not a backdoor for Chinese products, president Sheinbaum says
MEXICO CITY, Nov 22 (Reuters) – Chinese products are not entering the United States and Canada through Mexico, the president of the Latin American nation said on Friday, and the government will make that clear in upcoming trade meetings.
“In the meetings we have with Canada and (U.S. President-elect) Trump, we’ll show that the idea that (Chinese) products are entering through Mexico is false,” Mexican President Claudia Sheinbaum said in her morning press conference.
RUSSIA/MIL/TECH – What do we know about Russia’s new ballistic missile, Oreshnik?
https://www.aljazeera.com/
President Vladimir Putin has confirmed that Russia tested a hypersonic intermediate-range missile in an assault on the Ukrainian city of Dnipro, Ukraine.
The Kremlin said the attack was in response to Ukraine’s recent use of US- and UK-supplied missiles to target Russian territory.
RUSSIA/US/POLAND/NATO/MIL – Russia says new US base in Poland raises overall nuclear danger
https://www.reuters.com/world/
MOSCOW/WARSAW, Nov 21 (Reuters) – Russia said on Thursday that a new U.S. ballistic missile defence base in northern Poland will lead to an increase in the overall level of nuclear danger, but Warsaw said “threats” from Moscow only strengthened the argument for NATO defences.
The air defence base, situated in the town of Redzikowo near the Baltic coast, part of a broader NATO missile shield, was opened on Nov. 13.
“This is another frankly provocative step in a series of deeply destabilising actions by the Americans and their allies in the North Atlantic Alliance in the strategic sphere,” Russian Foreign Ministry spokesperson Maria Zakharova said.
EUROPE/ECON – European Economies Slow as Tariff Threats Compound Political Turmoil
Eurozone business activity declined this month as the threat of higher duties on exports to the U.S. added to political uncertainties at home, according to surveys released Friday.
With businesses cutting payrolls for a fourth straight month, the European Central Bank is likely to extend its series of rate cuts and may accelerate their pace. The euro fell to a near two-year low against the U.S. dollar following the release of the surveys, a sign that investors see an increased likelihood of faster rate cuts.
The eurozone Composite Purchasing Managers’ Index published Friday by Hamburg Commercial Bank and S&P Global declined to 48.1, its lowest level since the beginning of the year. A reading below 50 points to economic contraction. The index had been expected to drop less sharply, according to economists surveyed by The Wall Street Journal.
Similar surveys for Japan pointed to a stagnation of activity, while those for Australia indicated a small decline. India’s private sector continued to expand at a rapid pace. The U.S. survey to be released later Friday is expected to point to robust growth.
IRELAND/USA/TRADE/ECON – The Irish Government Is Unbelievably Rich. It’s Largely Thanks to Uncle Sam.
DUBLIN—The Irish government is rolling in clover like never before.
The country currently has so much money it pumps cash into not one but two sovereign-wealth funds. It is so flush that the budget watchdog doesn’t warn about not having enough money but rather that the government is spending so much that it could overheat the economy.
In Dublin, authorities are building what might become the world’s most expensive children’s hospital. There are plans for a motorway to link Cork and Limerick, new flood defenses in Shannon and floating wind farms off the south coast. Outside the parliament sits a new bike shed that cost half a million dollars, houses 36 bikes and doesn’t keep out the rain. The state is spending $10 million to get children off their phones at school, including mass-buying magnetic pouches to lock the devices away so they don’t get distracted.
“The good times are back,” says Pat Woods, as he stretches his arms out over the red leather banquette of his pub the Dame Tavern in central Dublin. “Everything is flying.” Standing in a nearby street sucking on a vape, a local hairdresser marvels at what is unfolding. “The spending is wild,” he says.
UK/USA/SEC – Police conduct controlled explosion near US Embassy, London
https://www.dw.com/en/police-
Following a loud noise near the US Embassy in London and police cordoning off the area on Friday morning, officers have urged for public calm.
They said that the noise was a controlled explosion carried out by officers. “Enquiries are still ongoing and cordons will remain in place for the time being,” the Metropolitian Police wrote on social media site X.
Earlier, the police said they were investigating a suspicious package and had cordoned off a road “out of an abundance of caution.”
Later on Friday, the embassy announced that it had resumed business as usual. Police have said it was possible they were dealing with a “hoax device.”
“An investigation into the hoax will now follow,” officers said.
GERMANY/ECON – German economy grows slower than expected in third quarter
https://www.dw.com/en/german-
The Federal Statistical Office, or Destatis, reported on Friday that the German economy grew less than analysts expected in the third quarter of 2024.
Gross domestic product grew by only 0.1% compared to the second quarter, less than the preliminary estimate of 0.2%.
This year, Germany has only narrowly avoided a recession, defined by two consecutive quarters of shrinkage.
Household consumption rose by a modest 0.3% compared to the previous quarter, and government spending rose by about 0.4%.
Exports of goods, a key factor in Germany’s economy, fell by about 2.4%.
GERMANY/LABOR/AUTOS – Germany: Bosch to cut 5,000 jobs with car industry in crisis
https://www.dw.com/en/germany-
German automotive supplier Bosch plans to lay off 5,000 employees, a spokeswoman said on Friday.
The planned job cuts come as German auto companies push to reduce costs in order to stay competitive in the international market.
What do we know about the job cuts at Bosch?
Bosch’s spokeswoman said that some 3,800 of the job cuts are to be made in Germany.
She added that the exact number of layoffs will be negotiated in talks with workers’ representatives.
In a separate statement, Bosch said it was having to make significant investments in new technologies.
“We must adapt our structures to the changing market environment and reduce costs sustainably to strengthen our competitiveness,” Bosch manager Stephan Hölzl said.
The firm also pointed to overall stagnation in the market.
“Global vehicle production will stagnate this year at around 93 million units, if not decline slightly compared to the previous year,” Bosch said.
US/FINANCE/IRAN/SEC – US Probes JPMorgan’s Ties to Iranian Oil Kingpin’s Hedge Fund
https://www.bloomberg.com/
The US Treasury Department is examining JPMorgan Chase & Co.’s relationship with a hedge fund that’s said to be part of a network overseen by Iranian oil trader Hossein Shamkhani.
The probe is at an early stage as the agency scrutinizes whether the New York-based bank complied with all rules and regulations when it took on Ocean Leonid Investments Ltd. as a client, according to people familiar with the matter, who requested anonymity as the information isn’t public. The entity was recently suspended by Dubai’s financial free zone.
Bloomberg News reported on Oct. 24 about Ocean Leonid’s role as a hedge fund with offices in London, Dubai and Geneva that’s overseen by Shamkhani. JPMorgan, ABN Amro Bank NV and Marex Group Plc were among the lenders that have offered the firm leverage, Bloomberg News reported.
US/POL/SEC – Trump Picks Pam Bondi for Attorney General After Gaetz Exit
https://www.bloomberg.com/
President-elect Donald Trump said he is nominating former Florida Attorney General Pam Bondi to run the Justice Department, elevating another longtime ally to carry out his agenda on law enforcement, immigration and hot-button social issues.
A fierce defender of the former president, Bondi, 59, has repeated Trump’s claims that the department’s investigations of his conduct have been laced with politics. If confirmed for the role by the US Senate, she’d oversee everything from defending controversial government policies in court to doling out billions of dollars in federal grants.
USA/CHINA/TECH/SEC – Top senator calls Salt Typhoon ‘worst telecom hack in our nation’s history’
https://www.washingtonpost.
The Chinese government espionage campaign that has deeply penetrated more than a dozen U.S. telecommunications companies is the “worst telecom hack in our nation’s history — by far,” a senior U.S. senator told The Washington Post in an interview this week.
The hackers, part of a group dubbed Salt Typhoon, have been able to listen in on audio calls in real time and have in some cases moved from one telecom network to another, exploiting relationships of “trust,” said Sen. Mark R. Warner (D-Virginia), chairman of the Senate Intelligence Committee and a former telecom venture capitalist. Warner added that intruders are still in the networks.
Though fewer than 150 victims have been identified and notified by the FBI — most of them in the D.C. region, the records of people those individuals have called or sent text messages to run into the “millions,” he said, “and that number could go up dramatically.”
INDIA/CLIMATE/RICE – How a change in rice farming unexpectedly made India’s air so much worse
https://www.washingtonpost.
BATHINDA, India — An Indian initiative to preserve vanishing groundwater by delaying the annual sowing of rice has led to a dramatic worsening of air pollution in New Delhi and the surrounding region, already infamous for its suffocating smog, according to farmers and researchers. And no one saw it coming.
For decades, farmers have burned the field stubble that remains after harvesting rice to prepare for the next crop.
But when government officials ordered a delay in the summer sowing of rice in part of India by a few weeks to take advantage of the coming monsoon rain, they did not consider that India’s winds would have shifted by harvest time. Now, the harvest coincides with winter weather, and the winds blow the smoke across the plains of northern India.
USA/SPENDING/REGIME CHANGE – Biden’s team pushes to get money out the door in final weeks
https://www.washingtonpost.
Late on the afternoon of Nov. 13, about a week after Vice President Kamala Harris’s devastating election loss, President Joe Biden got on a phone call with about 2,000 appointees across the federal government, hoping to ensure that the final weeks of his presidency did not go to waste.
“I know it’s a difficult time. I’m sure you’re all feeling a variety of emotions,” Biden said. “But I hope there’s one emotion you don’t lose sight of: pride in all we’ve accomplished together.”
The call, according to a Biden aide, who spoke on the condition of anonymity to discuss a private meeting, was in part aimed at motivating despondent employees who worried that their work would rapidly be undone. Biden and his aides have concluded that they have few ways to block President-elect Donald Trump’s plans to upend agencies and shatter norms, but there is one big thing they can do: focus their final weeks on getting billions of dollars out the door to finish implementing Biden’s signature pieces of legislation.
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