The Full Belmonte, 3/16/2024
Gaza aid begins arriving by sea
World Central Kitchen barge loaded with food arrives off Gaza yesterday. Photo: Israel Defense Forces via Reuters
“World Central Kitchen — the non-profit founded by Chef José Andrés to provide meals to people navigating natural disasters or war — dropped off 200 tons of food for Palestinians in Gaza via the sea yesterday, the organization says.
The UN has warned that famine is imminent in war-torn Gaza.
Zoom in: It was World Central Kitchen's first maritime aid drop-off. The group says it has already provided 37 million meals to Gazans in need via land and air drop-offs.
The aid arrived in a large vessel, and workers are unloading it onto smaller boats to reach the shore, CNN reports.” [Axios]
Trump team's RNC reversal
Illustration: Brendan Lynch/Axios
“Donald Trump's new team at the Republican National Committee is reversing its plans to cut the party's community centers for minority voters after backlash from RNC members, Axios' Sophia Cai reports.
Why it matters: It's a sign of bubbling discontentment among RNC members regarding the new, Trump-backed leadership's moves, which included firing dozens of staffers.
Zoom in: Some RNC members worry that the Trump team's proposed cuts will direct more resources to his presidential campaign at the expense of the party's long-term future.” [Axios]
Ken Buck slams ‘ridiculous’ claims he’s resigning to hurt Boebert’s election chances
“Rep. Ken Buck (R-Colo.) slammed the claims that he’s resigning from Congress to hinder Rep. Lauren Boebert’s (R-Colo.) chances of claiming his 4th Congressional District seat.
Buck initially announced last year that he would not be running for reelection. He announced his early retirement from Congress on Tuesday, triggering a special election to fill his spot.”
Read the full story here at The Hill
“It’s a crucial week ahead for central banks that oversee 40% of the world’s gross domestic product. There’s intense speculation that the Bank of Japan will raise interest rates for the first time since 2007, ending the world’s last negative rate. In the US, policymakers are expected to hold steady until it’s clear that price surges are contained, as the glide path to a soft landing experiences some turbulence. Moreover, a slight uptick in inflation revealed by data this week may mean the Federal Reserve will stick with its mantra of patience longer than previously expected. Economists surveyed by Bloomberg now forecast three US interest-rate cuts this year and four in 2025. The UK and euro-zone also look set to begin cutting rates later in 2024 as inflation there comes under control.
But while the US economy has avoided a recession and unemployment has remained low, that doesn’t mean everyone is having an easy time of it. Some Americans feel increasingly pressured by the surge in the cost of carrying their debt. Delinquency rates on their credit card debt and auto loans are now at the highest in more than a decade. Of course there’s a flip side: Many US families are relatively well-positioned to service their debt, and broad wage gains mean workers are pulling in larger paychecks.” [Bloomberg]
“More than two years after the Kremlin’s full-scale invasion of Ukraine, during which Russian forces have killed tens of thousands of Ukrainians while blasting cities into rubble, Russians back home have been doing well, with an economy that’s held up in the face of Western sanctions. Vladimir Putin, set to become the longest serving Kremlin leader since Joseph Stalin in an election widely seen as a fait accompli, has spent the last few years trying to bend the world to his liking. Meantime, a program for private investors to help rebuild Ukraine is aiming to provide $15 billion of funding with support from state bodies and capital markets.” [Bloomberg]
“Legislation that would force TikTok’s Chinese owner ByteDance to sell the video-sharing app within six months seems to be going nowhere fast in the US Senate. After the House of Representatives easily passed the bill, senators on both sides of the aisle appear unwilling to fast-track a ban on the popular app—used by as many as 170 million Americans—in an election year. Some think ByteDance should make a move sooner rather than later, though. ‘The platform’s Chinese owners should look to make the best of a bad situation and divest the app while it has maximum value,’ Dave Lee writes in Bloomberg Opinion.” [Bloomberg]
TikTok Chief Executive Officer Shou Zi Chew Photographer: Tierney L. Cross/Bloomberg
“Another bad week for Boeing. US accident investigators said they remain in the dark about who performed the work on the panel of a Boeing jet that blew off shortly after takeoff in January, with the embattled planemaker saying it’s unable to find the records. United Airlines meanwhile told Boeing to stop building its 737 Max 10 jets for the carrier. And a Boeing employee who raised concerns about production standards at a 787 Dreamliner factory was found dead. John Barnett, who worked at Boeing for 32 years until his retirement in 2017, reportedly died from a self-inflicted wound.” [Bloomberg]
Orban Endangers Hungary’s Status as an Ally, U.S. Diplomat Says
The U.S. ambassador to Budapest raised the temperature in a long-running standoff, citing Prime Minister Viktor Orban’s pro-Russia, anti-U.S. stance and opposition to supporting Ukraine.
“Prime Minister Viktor Orban is jeopardizing Hungary’s position as a trusted NATO ally, the U.S. ambassador to Budapest warned on Thursday, with ‘its close and expanding relationship with Russia,’ and with ‘dangerously unhinged anti-American messaging’ in state-controlled media.
The ambassador, David Pressman, has for months criticized Mr. Orban for effectively siding with President Vladimir V. Putin of Russia over the war in Ukraine, but his latest remarks sharply ratcheted up tensions and indicated that trust in Hungary among NATO allies had collapsed.
Hungary is ‘an ally that behaves unlike any other’ and is ‘alone on the defining issue of European security of the last quarter century, Russia’s war in Ukraine,’ Mr. Pressman said in a speech in Budapest marking the 25th anniversary of Hungary’s admission to the Western military alliance.
‘We will have to decide how best to protect our security interests, which, as allies, should be our collective security interests,’ he added.
The speech followed a visit last week by Mr. Orban, a darling of MAGA Republicans in the United States, to Donald J. Trump at the former president’s home and members-only club in Florida. After their meeting, Mr. Orban claimed in an interview with Hungarian state television that Mr. Trump had outlined to him a ‘pretty detailed plan’ for ending the war in Ukraine that would involve an abrupt halt to United States aid to Russia’s embattled neighbor.
Such a plan closely parallels what Mr. Orban has been advocating for the European Union — a suspension of all financial and military support for Ukraine, and a policy of pushing the government in Kyiv into immediate peace negotiations with Moscow.
That, Mr. Pressman said, ‘is not a proposal for peace; it is capitulation.’
The ambassador detailed a catalog of complaints of the ways in which Hungary had not lived up to its obligations as an ally. These included what he said was a refusal by Mr. Orban’s government to let American soldiers based in Hungary get license plates for their family cars, in violation of a defense cooperation agreement between the two countries.
‘Of course, this speech isn’t about license plates, but this issue is indicative of the current, concerning state of Hungary’s relationship with its allies,’ he said. ‘It is about a government that labels and treats the United States an adversary while making policy choices that increasingly isolate it from friends and allies.’…” Read more at New York Times
Turning Up the Heat
U.S. President Joe Biden (left) sits with Israeli Prime Minister Benjamin Netanyahu at the start of the Israeli war cabinet meeting in Tel Aviv on Oct. 18, 2023.Miriam Alster/AFP via Getty Images
“The Biden administration sanctioned two Israeli settler outposts in the West Bank and three Israeli citizens on Thursday, citing violence against Palestinian civilians as the rationale for the latest economic restrictions.
‘There is no justification for extremist violence against civilians, whatever their national origin, ethnicity, race, or religion,’ the U.S. Department of State said in a statement. ‘Today’s action further underscores our commitment to promoting peace, security, and stability for civilians in the West Bank and accountability for the individuals and entities involved in these actions.’
The measures represent the first time that the United States has imposed sanctions on settler outposts—not just individual citizens—and come amid a growing divide between U.S. lawmakers and Israeli officials over the direction of the Israel-Hamas war and the worsening humanitarian crisis in the besieged Gaza Strip.
The European Union is reportedly also inching closer to determining sanctions to impose on Israeli settlers in the West Bank, Reuters reported, after Hungary—one of the most vocal opponents of the measures—backed down from its initial resistance.
The same day that the U.S. sanctions were announced, Senate Majority Leader Chuck Schumer delivered his harshest public criticism yet of Israeli Prime Minister Benjamin Netanyahu, identifying him as one of the ‘major obstacles’ to peace and calling for a new elections in a speech on the Senate floor that angered Israeli officials. ‘A new election is the only way to allow for a healthy and open decision-making process about the future of Israel, at a time when so many Israelis have lost their confidence in the vision and direction of their government,’ Schumer said.
Such frank, public criticism of the Israeli leader by Schumer reflects just how much the Israel-Hamas war has shifted views in Washington. ‘For a Jewish senator from New York, the majority leader, a friend of Netanyahu who’s the most centrist possible Democrat and even leans hawkish on Israel, to voice criticism like this?’ said Alon Pinkas, a former Israeli diplomat. ‘If you’ve lost Chuck Schumer, you’ve lost America.’
President Joe Biden on Friday appeared to back the senator’s comments, calling it a ‘good speech’ that ‘expressed serious concern shared not only by him, but by many Americans.’
Meanwhile, negotiations for a temporary cease-fire are set to continue. After Hamas proposed a new cease-fire plan, Israel announced on Friday that it would dispatch a delegation of officials to Qatar to participate in a new round of talks, although Israeli officials also called Hamas’s proposals ‘unrealistic.’” [Foreign Policy]
“Russian strike in Ukraine. At least 20 people were killed and 70 more were wounded by a Russian missile attack in the Ukrainian Black Sea port city of Odesa, Ukrainian officials said on Friday. The attack was a ‘double tap,’ according to Ukrainian officials, in which Russia launched two strikes—the second of which hit emergency personnel tending to civilians caught in the first attack.
The deadly attack comes days after Ukraine launched drone strikes on oil refineries in Russia and as millions of Russians headed to the polls on Friday to vote in a presidential election that is near certain to extend President Vladimir Putin’s decades-long reign in power.” [Foreign Policy]
“Haiti’s spiraling crisis. In the event that Haiti’s worsening political crisis sparks a mass exodus out of the country, the Biden administration is mulling processing the potential influx of migrants at Guantánamo Bay, CNN reported. Separate from the facility’s military prison, which has detained suspected terrorists since 2002, Guantánamo Bay also has a Migrant Operation Center that has previously been used to hold and process migrants.
Meanwhile, observers and officials fear that conditions in Haiti will continue to deteriorate. ‘It’s an extremely dangerous situation,’ Bocchit Edmond, a former Haitian foreign minister who now runs the Haitian Observatory of International Relations think tank, told Foreign Policy’s Robbie Gramer. ‘Without a change, we are facing a possibility of an entire nation becoming a big open-air jail run by gangs.’” [Foreign Policy]
“Senegal’s election. Just days ahead of Senegal’s postponed presidential election, authorities have released two opposition leaders from prison: Ousmane Sonko, a top opposition figure who was convicted of ‘corrupting youth’ and remains blocked from running in this election, and Bassirou Diomaye Faye, an ally of Sonko who is running for president. Faye has been campaigning from jail, where he had been held on charges of defamation and contempt of court.
Their release marks the latest twist in a dramatic electoral saga that has raised fears of shrinking freedoms in Senegal after outgoing President Macky Sall pushed to delay the country’s election, originally slated for Feb. 25, by almost 10 months. The election is now scheduled for March 24. Sall has said that he will not run again, having already served two terms.” [Foreign Policy]
Shopping for TikTok
Illustration: Aïda Amer/Axios
“If China does the unexpected and allows TikTok to be sold, there are big questions about who would want to buy it and for how much.
The big picture: TikTok's popularity hasn't translated into profits, Axios' Kerry Flynn and Dan Primack report.
By the numbers: Wedbush analyst Dan Ives puts the value of TikTok's U.S. operations at $100 billion. He says that plunges to $40 billion if a buyout doesn't include the company's addictive algorithm.
TikTok's U.S. revenue reportedly was between $16 billion and $20 billion in 2023.
But CEO Shou Zi Chew has said the company is in the red. TikTok is spending big money to move its data to U.S. servers, grow its e-commerce business and partner with Oracle on data security.
Still, the company touts 170 million U.S. monthly active users. That's nearly as many as Facebook, more than Instagram, and far more than either Snapchat or X, according to eMarketer.
It's a super-engaged audience, with U.S. adults spending nearly an hour per day on the app.
Reality check: Any TikTok suitor would need a strong stomach. Not only because it's still unprofitable, but also because of the migraine headaches inherent in owning and operating a popular social media company.
What we're watching: The most logical buyers for TikTok are ByteDance's non-Chinese investors, including General Atlantic, Sequoia Capital, and Susquehanna International Group.
They know the company best, have deep pockets, and can execute the simplest structure via a share swap with some new money sprinkled on top — possibly from an influence-thirsty billionaire.
But outside buyers are circling. Former Treasury Secretary Steven Mnuchin and former Activision CEO Bobby Kotick are both working to form investor groups.
Don't expect a Big Tech company to bid: It would be a nonstarter on antitrust grounds.” [Axios]
Cancer detection breakthrough
Photo: Guardant Health via AP
“A simple blood test, developed by the company Guardant Health, detected nearly 90% of early and curable cases of colon cancer in a study published in The New England Journal of Medicine this week.
Why it matters: Colon cancer is the second deadliest cancer in the U.S. and is expected to kill 53,000 Americans this year, The New York Times reports.
Even though early colon cancer detection can prevent an overwhelming majority of deaths, just 50 to 75% of those who should be screened regularly are being tested.
Zoom in: Existing screenings for colon cancer, a colonoscopy or a fecal test, are invasive and not as simple.
But a blood test could be administered routinely, even during an annual physical.
How it works: Guardant Health’s test looks for DNA fragments shed by tumor cells.
It's already for sale in the U.S. for $895, but has not been approved by the FDA, and most insurers don't cover it. Guardant Health expects an FDA decision this year, AP reports.” [Axios]
“Calling all Wordle enthusiasts! (Wordlers? Wordle nerds? Nerdles?) Everyone's favorite daily dopamine hit just celebrated 1,000 puzzles. In honor, CNN got answers to some of the Wordledom's most burning questions. For instance, yes, user feedback does make a difference to how the puzzle is structured. When editors introduced a themed word, ‘FEAST,’ on Thanksgiving, people hated it and there hasn't been one since. Yes, there is a giant database of Wordle words, and the words are carefully chosen by a real person. Oh, and they're working on an archive, so you can finally take a stab at all the puzzles you've missed.”
Read the whole story here at CNN