Three news stories summarized & contextualized by analytic journalist Colin Wright.

European Commission recommends opening EU membership talks with Bosnia

Summary: Earlier this week, the European Commission recommended opening EU membership talks with Bosnia and Herzegovina.

Context: This is just an early step on the way to possible, eventual accession into the bloc, and the Commission noted that there’s still a good deal of work left to do, including handling local ethnic rivalries and secession threats, but the EU is looking to expand—for economic and defense reasons—and this recommendation is meant to recognize the work the Bosnian government has already done, passing all sorts of laws that have brought it more closely into line with EU standards for things like human rights, corruption, and migration.

—Reuters

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Thai election authorities seek to dissolve poll-winning Move Forward Party

Summary: The Thai election commission has said that it will ask the country’s constitutional court to disband the Move Forward Party, which took the majority of votes in last year’s election, and which—among other progressive policies—has said it intends to change strict laws against insulting the country’s royal family.

Context: In January, the court found that the Move Forward Party’s plans to change these laws violates the Thai constitution, and if the commission’s efforts to dissolve the party are successful, that could result in a ban on its leaders from being involved in politics for a decade; the heads of the party have said they don’t intend to overthrow the Thai system, which is democratic but places the monarch as the head of state, and they’ve said they’ll prove their innocence in court; the forerunner of the Move Forward Party, the Future Forward Party, was dissolved in 2020 due to financial issues.

—Al Jazeera

Milei gives himself salary raise, backtracks after social media clashes

Summary: The President of Argentina, Javier Milei, has been criticized for approving a 48% raise for himself and his cabinet while overseeing dramatic cuts of government spending across the country and its agencies.

Context: Milei claims that the raise was implemented by his predecessor and applied automatically, but his critics say that he approved the raise in February; Milei has said he will overturn this decree, though this is likely to continue to be a topic of conversation in Argentina, as the country continues to suffer staggering levels of inflation, and because child poverty levels recently hit 57% according to the UN Children’s Fund, those levels on track to hit 70% the first quarter of 2024 unless something changes.

—Buenos Aires Herald

The effects were unevenly distributed (as tends to be the case with such things), but the US officially experienced its warmest-ever winter (on record), due to the impacts of climate change and the El Niño phenomena.

—Axios

$1.2 billion

Low-end valuation of Michael Jackson’s music catalog, based on a new deal for Sony Music Group to buy half of the late performer’s publishing and recoded masters catalog.

Higher-end valuations are hovering around $1.5 billion, but in either case, this represents the largest ever valuations of a performer’s music assets (though the band Queen is seeking about $1.2 billion, which would put it in the same range).

—Billboard

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

Swedish PM says ready to fortify crucial Baltic island

Summary: Just days after formally joining the NATO military alliance, the Prime Minister of Sweden has said that he’s open to investing in new defenses on the island of Gotland, which is considered to be the most crucial and strategically important island in the Baltic Sea.

Context: Gotland is often referred to as a “giant aircraft carrier” because of its position and capacity to house military assets that would allow it to project control across the whole of the Baltic region, and now that Sweden is in NATO, that means it’s in a position to shore-up the alliance’s defensive infrastructure in an area that could become vital if the war in Ukraine ever expands, though it could also be useful as a sort of overt threat if Russia ever decides to escalate its military activities in Europe.

—Financial Times

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US dominates foreign weapons market as Russian exports plummet

Summary: Russia has reoriented its weapons industry toward providing hardware and ammo for its invasion of Ukraine, which has depleted its exportable capacity, allowing the US to capture more of the international arms market, now accounting for more than 40% of the total global weapons trade.

Context: The US, France, and Russia have long been the top three most successful global arms dealers, and the US has been number one for some time, but France has recently taken second place after long lagging behind Russia; this is meaningful in part because of the economics involved and what it means for the national priorities of the nations selling these weapons, but it also suggests Russia will be less capable of geopolitical deals that involve the sale of high-end military hardware to other countries, while the US and France will be relatively more capable of striking such deals.

—The Wall Street Journal

India signs $100 billion free trade deal with four European nations

Summary: The Indian government has signed a free-trade agreement with the European Free Trade Association, which will result in about $100 billion-worth of investment in India by the members of that association, Norway, Switzerland, Iceland, and Liechtenstein.

Context: This agreement is the culmination of nearly 16 years worth of negotiation, and that outside investment will occur over the next 15 years, during which time most Indian tariffs on industrial goods like pharmaceuticals, machinery, and manufacturing equipment from these countries, which are currently substantial, will be lifted.

—BBC News

New research indicates that many teens—who are on their phones pretty much constantly throughout the day—believe they spend too much time on their phones, and they generally feel less anxious when they introduce more screen-less time into their lives, but they also have trouble doing so (for a variety of reasons, many of them social-pressure related).

—Pew Research

$9.4 billion

Eli Lilly’s 2023 revenue, up about 28% from the previous year, according to the company’s fourth-quarter earnings report.

That increase is largely attributable to its weight-loss drug Zepbound (its Ozempic competitor), of which the company sold $176 million-worth in less than a month.

—Quartz

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

Portugal’s election leaves the country uncertain of its future but heartens Europe’s radical right

Summary: The general election Portugal held over the weekend has ended inconclusively, but a far-right party that’s only been around for about five years—the Chega, or “Enough” party—gained a substantial amount of power, surging from just 12 parliamentary seats in 2022 to 48 seats this time around.

Context: It’ll likely be several weeks before one of the country’s main parties is able to form a coalition government, but the rise of more extreme versions of conservative politics in Portugal over the past few years mirrors what some other European nations have seen, and that rightward lean could substantially impact the European Parliamentary elections that will be held in June, possibly tilting the whole of EU policy toward a more populist, traditionalist orientation.

—The Associated Press

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Russia sacks naval commander after humiliating Black Sea losses

Summary: Russian President Putin has reportedly fired the country’s naval commander, Admiral Nikolai Evmenov, following a series of very public, at times quite substantial losses to Ukrainian attacks in the Black Sea.

Context: Evmenov has been in charge of Russia’s navy since 2019, and he’s being replaced by the commander of Russia’s Northern Fleet, Alexander Moiseev; Russia has tallied a series of small, but symbolically important victories on the ground in Ukraine in recent months, but their offensive push has reportedly stalled over the past few weeks, and their performance in the Black Sea has been a lot less impressive, Ukraine managing to sink and shoot down several high-value warships and aircraft, in turn forcing the Russian navy to move its fleet from the area to avoid being targeted, which has significantly reduced the fleet’s value in the conflict.

—Financial Times

Boeing whistleblower John Barnett found dead

Summary: A former Boeing employee who became a whistleblower, John Barnett, was found dead of what seems to be a self-inflicted gunshot wound over the weekend.

Context: Barnett retired from the company in 2017 after working at Boeing for several decades, and he filed a whistleblower complaint about quality-control and safety issues that same year, also alleging that Boeing had retaliated against him for his complaint; in 2022, a judge denied a motion from Boeing to dismiss Barnett’s complaint about the harassment campaign the company purportedly deployed against him, and all of this is especially newsworthy right now because of all the issues planes made by Boeing have faced in recent years, and because of speculation by some that Barnett’s death may not have been a suicide—though it’s important to note that there’s currently no evidence at all that foul play was involved.

—The Washington Post

As the US invests in further efforts to get aid to Gazan citizens (in the face of counter-efforts by the Israeli government that have kept aid from flowing at a scale necessary to stave-off starvation), there are questions as to whether air-drops and an impending influx of maritime shipments will make much of a dent in the burgeoning humanitarian crisis in the region.

—Financial Times

$1.4 billion

Valuation of canned water company Liquid Death after closing a $67 million round of financing.

This is a company that sells water in cans with a heavy metal-inspired design, and the company says they had $263 million-worth of retail sales through registers in 2023, alone.

—Food Dive

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

Libyan leaders agree to form new unified government

Summary: Three leaders who have been ruling over portions of Libya since late-2021, when a planned election didn’t occur because of questions about whether the primary candidates were eligible to run, have agreed that it’s necessary to form a new, unity government that will run the country and oversee the organization of a new election.

Context: These leaders have asked the UN Mission in Libya to support this effort, and while it seems likely, based on what’s been divulged about the intended process so far, that regional nodes of power and international interests with sway in the area will be on board, some analysts have suggested there could be issues with the specifics, as all three leaders have shown themselves to be unlikely to want to give up any power, which could make the orchestration of a real-deal, un-messed-with election tricky.

—Reuters

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New fire warnings stretch from Texas to Minnesota

Summary: The US Great Plains states are awash in wildfire warnings this week, as high winds join persistent hot and dry weather to create precisely the right conditions for the emergence of new fires at a moment in which an existing blaze, the Smokehouse Creek Fire in Texas, has almost, but not entirely, been contained.

Context: The Smokehouse Creek Fire was apparently caused by a broken power pole and downed electrical wires, and stoked by hot, dry conditions on the ground, and that revelation has led to a flurry of lawsuits against Xcel Energy, which owns and maintains those poles and wires; this fire has already consumed more than a million acres of land, making it the largest in Texas state history, and one of the largest in US history.

—Bloomberg

At least 26 people killed after floods and landslides hit Indonesia

Summary: Indonesia’s island of Sumatra has tallied at least 26 deaths so far, following a wave of flash floods and landslides triggered by monsoon rains.

Context: Nine districts and cities in the western part of the island have been underwater since late last week, and relief efforts have been limited, as power outages, blocked and destroyed infrastructure, and ongoing extreme weather have made it difficult to get aid where it’s needed.

—Al Jazeera

The market price of gold has been on a tear, recently hitting a new record high and as a consequence elevating concerns that inflation might not be as handled as regulators think (as gold tends to be an asset you invest in to counter instability and uncertainty, not something you buy when you think the market is stable and on a good path).

—Quartz

704%

Increase in deepfake “face swap” attacks, in which hackers use AI face swap tools (which automate the process of putting one person’s face on another’s body in images or videos) to bypass remote identification verifications processes.

These tools are cheap or free, and are fast and easy to use. And the shift from in-office to remote work situations has increased the number of security procedures that are vulnerable to this type of manipulation.

—SC Media

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

TikTok prompts users to call Congress to fight possible ban

Summary: A bill introduced by US lawmakers last week would require that the Chinese owner of TikTok, a company called ByteDance, sell TikTok or be practically banned in the US; this led to a huge effort by TikTok to rally its users against the bill, and that seems to have, in some cases, led to the opposite intended effect.

Context: This isn’t the US Congress’ first attempt to address the control a Chinese company has over a popular US platform, and it’s not the first time they’ve pushed for regulations focused on TikTok, specifically, but this time seems different because of the huge amount of bipartisan support for this bill; following its announcement, TikTok prompted its users to call their representatives, connecting them directly to their offices, and that flooded congressional phone lines to the point that no other calls could get through, which enraged some politicians who said they were neutral on the bill, but decided to vote in its favor because of this aggressive move by ByteDance; President Biden has said he would sign the bill if it’s passed by Congress, and if signed into law it would require ByteDance divest itself of TikTok within about half a year, and would give the President the limited ability to prohibit access to an app owned by a foreign entity in the United States.

—The New York Times

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Microplastics found in every human placenta tested in study

Summary: A new study analyzing tissue samples from 62 placentas found microplastics in all the samples.

Context: This parallels other recent studies that found microplastics in human blood and breast milk, and another that found them in all the human arteries that were tested for the presence of these particles; microplastics are very small pieces of the plastic we use in pretty much everything, from bags to water bottles to the cases of our computers and phones, these bits shed during the production and use of these goods, but also after they’re discarded, as they are eroded by natural forces; researchers are still trying to figure out what their ubiquity throughout nature and our bodies means, in terms of impacts, but some studies have already shown they can damage human cells, cause inflammation, and even clog our arteries, increasing the likelihood of cardiovascular events like heart attacks and strokes.

—The Guardian

Congress avoids shutdown with tougher battle ahead

Summary: US lawmakers have passed a collection of funding bills that will allocate around $460 billion to various aspects of the government, narrowly averting a government shutdown.

Context: These lawmakers will need to pull this off again before March 22, when another round of funding bills will be necessary to avert yet another shutdown; this last batch passed the Senate, 75-to-22, and will provide funding for agricultural, housing, transportation, and energy agencies, but the next batch will provide funding for more contentious agencies, like the Pentagon and Homeland Security, so it’s expected to be an even trickier round of negotiations.

—Axios

Bitcoin’s price is on the rise again, ostensibly fueled by the emergence of new (and regulator-approved) ETFs containing the assets in the US; the price of a Bitcoin has surged to an all-time high in recent weeks, and while some enthusiasts are arguing this suggests crypto isn’t dead yet, many analysts are saying this has the hallmarks of a second bubble.

—Chartr

1 nanometer

Size of the node in Intel’s upcoming 10A microchips, intended for production in late-2027. That’s a huge leap for the company, as the current production-scale state-of-the-art is 3nm chips, which are found in high-end gadgets like the iPhone 15.

Smaller chip processes mean you can pack more processing into a smaller footprint, and pretty much everyone in this space is scrambling to make their processes smaller so they can make more powerful hardware (for comparison: moving from 5nm to 3nm chips allowed producers to pack around 70% more transistors into the same microchip footprint).

—Tom’s Hardware

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Three news stories summarized & contextualized by analytic journalist Colin Wright.

Hackers that hit UnitedHealth pull disappearing act

Summary: The Blackcat hacking gang, also known as ALPHV, has reportedly disappeared, replacing their online presence with statements that, also reportedly, incorrectly suggest they were taken down by law enforcement.

Context: This is what’s known in the cybercrime industry as an “exit scam,” where a hacking group or crypto-asset company runs away with the loot and leaves their collaborators or customers in the lurch, usually pretending, as justification for their disappearance, that law enforcement entities have captured them, which makes it less likely those with information about them will share said information; in this case, the Blackcat gang hacked the technology unit of UnitedHealth Group, causing all sorts of disruptions to the US healthcare system for weeks, and the heat from that attack might be why they decided to shut down, though in most cases the gangs that disappear in this way reappear before long using a different name; UnitedHealth reportedly paid about $22 million in ransom to the hackers in order to get their systems back online, though the company hasn’t confirmed this, publicly.

—Reuters

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The EU’s new competition rules are going live

Summary: Wednesday was the deadline for some of the tech world’s biggest companies to comply with the European Union’s Digital Markets Act, or DMA, which has riled the industry and is resulting in a flurry of changes across online services within the bloc and around the world.

Context: The DMA is meant to force these companies to behave in fair and open ways, and is especially focused on preventing monopolization of what have become fundamental aspects of the global economy; companies that have been designated “gatekeepers” by the European Commission, defined as tech companies operating in at least three EU states, pulling in at least 7.5 billion euros each year, boasting an average market cap of around 75 billion euros, operating a platform with at least 45 million monthly active users, and serving more than 10,000 active EU business customers, must thus adjust their offerings to these new guidelines or be fined up to 10% of their global revenue, and up to 20% of that revenue for infractions after the first; these rules apply to Microsoft, Meta, Apple, Alphabet, ByteDance, and Amazon, and these companies have made announcements in recent months as to how they plan to change the way they do things to fulfill their new, DMA-delineated responsibilities within the bloc—including things like Apple allowing third-party app stores in the EU and Microsoft changing how they promote their own products within their Windows operating system—which could lead to similar enforcement in other countries in the coming years, if these rules prove successful according to the competition- and consumer-oriented metrics outlined by the EU Commission.

—The Verge

Novo Nordisk says Ozempic drug cuts risk of kidney problems

Summary: The diabetes medication that has in recent years been repurposed to help obese people lose weight, Ozempic, has been shown in a new clinical trial to reduce the risk of kidney disease-related problems in patients by 24%.

Context: This trial was conducted by the company behind Ozempic, Novo Nordisk, so it’s a good idea to take this finding with a grain of salt, but this is of a kind with other recent findings that suggest this and other drugs in the same general category seem to have a slew of uses beyond their original intended purpose, and that’s led to a revolution in the weight loss industry, but also, potentially, in a bunch of adjacent fields, like those related to addiction; these drugs are considered to be pretty safe for humans because they’ve been prescribed for treating diabetes for so long, and thus we have a backlog of data showing how patients respond to them over time, and pharmaceutical companies around the world have been looking at their existing portfolio of drugs, hoping to find other products that might be repurposed in this same way, as doing so could save them a lot of development costs, while also potentially providing them with a new blockbuster drug offering.

—The Wall Street Journal

Like Biden, Trump did very well at Tuesday’s “Super Tuesday” ballots, but in contrast to his consistent over-performance of polls in 2016, he seems to have under-performed 2024 polls in these primary contests, raising questions (amongst some analysts) as to whether his (glowing) numbers might be a bit inflated.

—Financial Times

$69,191.95

Market value of a Bitcoin on Tuesday, surpassing the crypto-asset’s previous high price of around $69,000 (which was tallied back in November 2021).

Bitcoin (and other cryptocurrencies and assets, like NFTs) have been on the rise, recently, possibly because of the recent approval of a double-handful of ETFs in the US that allow financial entities to buy Bitcoin and then sell shares of that asset portfolio.

—Bloomberg

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

Haley cedes Republican race to Trump, but does not endorse him

Summary: Following Tuesday’s “Super Tuesday” round of primaries, US Presidential candidate Nikki Haley ended her campaign for the Republican nomination, ceding the position to former-President Trump, but notably declining to endorse him.

Context: Haley’s step away from the race makes an already likely rematch between Trump and President Biden all but certain, and this is newsworthy because Haley won a few races, and Trump’s numbers were lower than polls predicted, suggesting he may need to win over her supporters if he wants to successfully take on Biden this time around; on the other side of the aisle, Biden essentially swept the Democratic primaries, but was tied by a relatively unknown candidate, Jason Palmer, in American Samoa, and his numbers were lower in states where a significant number of progressive voters voted “Uncommitted” in protest of the administration’s support of Israel’s invasion of Gaza.

—The New York Times

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Haitian PM arrives in Puerto Rico after long absence as he struggles to get home to quell violence

Summary: The Prime Minister of Haiti, Ariel Henry, was in Puerto Rico on Tuesday, following a period of several days in which his location was unknown.

Context: This disappearance raised eyebrows in part because it occurred during the most serious outbreak of violence in the country since former Haitian President Moïse was assassinated in 2021, which is saying something, as gangs have more or less run things since that killing; in recent days, though, a mass escape from Haiti’s two largest prisons and a gunfight with police at the country’s main international airport have escalated things, and the Haitian finance minister has had to fill in for the prime minister during his absence, which raised questions about whether Henry would return any time soon.

—The Associated Press

EU Commission proposes 1.5 billion euro common defense industry package

Summary: On Tuesday, European Union officials unveiled a new set of plans meant to incentivize member states to invest in their militaries, and to buy their military hardware from European businesses.

Context: This is reportedly at least partially a response to the US’s congressional tie-up related to defense dollars for Ukraine, though there have been hints that it might be related to the possibility of a Trump victory in November, too, as Trump has threatened to pull the US from NATO and/or to not defend NATO allies that fail to raise their spending to the alliance’s designated levels; whatever the catalyst, this new set of proposals is being seen as a response to heightened military activity on the continent, to Russia’s increasing belligerence, and to weakened defense infrastructure throughout the bloc, which the EU Commission wants to reinforce so that it’s not reliant on the US coming to its aid in case a member state is attacked.

—Reuters

An increasing number of experts and analysts are raising alarms about aspects of the US economy that are burdened by “technical debt”—older software infrastructure that makes products clunkier and more prone to errors and hacking—which is raising operational costs, but also putting substantial components of that economy at risk.

—The Wall Street Journal

24%

Approximate decrease in iPhone sales, year-over-year, in China, according to a new report.

Overall smartphone sales are also down in the country, but only by about 7%, and this drop has led to a decrease in the company’s share price, but also resurgent optimism about Chinese handset maker, Huawei, following a very rough period.

—Quartz

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

Eastern Congo residents scramble for food and safety as conflict intensifies

Summary: Food supplies have been disrupted in Goma, located in the eastern portion of the Democratic Republic of Congo, as the country’s army attempts to fend off a group of rebels called M23, which are allegedly backed by neighboring Rwanda.

Context: Clashes between these groups have been ongoing for a while now, but they escalated significantly at the beginning of the year, and thousands of civilians have been forced to flee their homes as the rebels have taken more territory, stressing infrastructure in Goma and worsening an already bad humanitarian crisis in the area; international actors like the US have urged Rwanda to withdraw their personnel from the area and to stop supporting M23, but without success so far, and this heightening conflict increases the strain on national resources and systems that are attempting to help the more than 800,000 internally displaced people living in the country, and the more than 2.5 million who were previously displaced and who are attempting to rebuild their lives in this eastern region, in particular.

—Reuters

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Domestic uranium enrichment gets $2.7 billion boost from US Senate

Summary: The US Senate has approved a bill that would provide $2.7 billion for the domestic enrichment of uranium, which would allow—among other things—for the expanded domestic production of the types of uranium used for existing and future nuclear power plant designs.

Context: This investment would allow the US to produce more of its own uranium fuel rather than buying it from Russian-controlled businesses, as is the case today, but support for building more nuclear power infrastructure in the country is mixed, and the effectiveness of next-step designs for power plants are still in question; also in question is whether the bill can be passed by the House, as many House Republicans are irked by what they perceive to be a lack of southern border security funding, and have thus voted against pretty much everything that’s arrived on their docket.

—Utility Dive

An executive bought a rival’s stock and the SEC says that’s insider trading

Summary: A biotech executive earned about $120,000 buying options on a rival company’s stock, and the US Securities and Exchange Commission is accusing him of committing insider trading, even though he didn’t have inside information about the company whose stock he purchased.

Context: He did, however, have information about his employer’s stock, and he assumed, rightly as it turned out, that this information would allow him to make money on that competitor’s stock because of how the market would shift after the knowledge he had was announced to the rest of the world; this is an example of what’s called “shadow insider trading,” because it involves using inside information, but to trade in other companies’ stocks, not one’s own, which is a trickier thing to prove, but something the SEC is trying to crack down on, because it’s arguably the same thing—taking advantage of insider information to profit—it’s just achieved in a somewhat more circuitous fashion; it’s not clear that this case will be decided in the SEC’s favor, but if it is, there’s a good chance we’ll see more such cases in the near-future.

—The Wall Street Journal

Netflix continues to be the singular winner of the online video streaming wars, and Disney, which has long been considered a serious contender in this space due to their huge portfolio of beloved and valuable IP, is beginning to see a decline in their paid subscriber numbers, leading to raised prices and expense-cutting efforts (which could worsen the problem, at least in the short-term).

—Chartr

840 mph

Ground speed achieved by American Airlines Flight 120 from Philadelphia to Doha over the weekend—one of the highest such speeds on record for a non-supersonic passenger (Concorde) flight.

This and other weekend flights were nudged to high speeds by a powerful jet stream the tallied the second-highest winds in the Washington-Baltimore region since we started tracking such things back in the 1950s, at one point weighing in at 265-mph, all that wind becoming a tailwind (pushing the planes from behind) for jets headed in the right direction.

—The Washington Post

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

Police arrest LockBit ransomware members, release decryptor in global crackdown

Summary: A task force headed by the UK National Crime Agency and coordinated in Europe has announced the arrest of two Poland-based members of the LockBit ransomware gang, alongside the issuance of three international arrest warrants, five indictments, and the seizure of more than 200 of the gang’s crypto-wallets.

Context: This is the culmination of nearly two years of investigative work by the NCA, alongside Europol and Eurojust, and several months of on-the-ground efforts to compromise the group’s online platforms, including 34 servers located around the world, and lots of financial infrastructure; this group is reportedly responsible for about 21% of all ransomware attacks in 2023, and investigators apparently found data they stole from their victims, including those who had paid their ransoms, on LockBit servers, indicating that they did not delete this data as promised after those ransoms were paid; a decryptor allowing ransomware victims to decrypt their ransom-held data has been released by investigators to help victims who didn’t pay the ransom, and the group has reportedly extorted hundreds of millions of dollars from more than 2,000 victims, many of them businesses or government agencies, so this bust is a pretty big deal.

—Bleeping Computer

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Guinea's military junta dissolves government and seals borders

Summary: The military junta that governs Guinea has announced that it has dissolved the country’s government, without providing an explanation for why, when a new government would be put into place, or how this might impact the elections planned for the end of 2024 when democratic rule was scheduled to be reimplemented.

Context: All of the country’s borders have been ordered sealed by security agencies, and government ministers have been ordered to surrender their passports and vehicles, their bank accounts frozen; this junta took control of the country in September of 2021, overthrowing the democratically elected president, who was himself attempting to launch a bid for a controversial third term in office.

—BBC News

US warns Israel against ground offensive into Rafah in draft UN resolution

Summary: A UN Security Council resolution being circulated by the US reportedly warns the Israeli government not to launch a major ground offensive into Rafah, indicating that such a move would be devastating for the approximately 1.5 million Gazan civilians who have been forced into the area by Israeli military activities further north, and that it would have “serious implications for regional peace and security.”

Context: The not so subtle subtext of this document, which is still being circulated on the down-low to attract support from other Security Council members, is that an invasion of Rafah, which is on the Gazan border with Egypt, would represent a red line to the US, which in turn could mean Israel would lose its most powerful and staunch ally; even if not passed, this document suggests that a bigger pivot by the US government in its unquestioning support of Israel’s government may be impending, in part because of how brutal Israel’s incursion into Gaza has been, and in part because those efforts are increasingly unpopular, both globally and amongst the American voting public.

—Financial Times

Home prices continued to rise across the US in 2023, though some fewer regions have seen moderate decreases, mostly in the single-digit percentages (though most of those areas saw huge increases earlier, so this is being seen as a tempering of earlier price-booms, not actual decreases, in most cases).

—Chartr

40%

Increase to chip-maker Nvidia’s stock price so far this year, easily earning it the accolade of top S&P 500 performer, and allowing it to elbow-out other tech (and tech-adjacent companies) like Tesla from the list of top-traded, top-valued (by market value) companies in the world.

—The Wall Street Journal

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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit onesentencenews.substack.com

Three news stories summarized & contextualized by analytic journalist Colin Wright.

New FDA-approved drug makes severe food allergies less life-threatening

Summary: A new antibody drug called omalizumab, which lessens the severe allergic reactions people have to some foods, has been approved by the US Food and Drug Administration.

Context: Over the course of several injections, this drug has been shown to help patients tolerate increasing volumes of whatever it is they’re allergic to, including things like nuts, milk, eggs, and wheat; about 17% of people who received the drug in clinical tests didn’t experience any benefits, so this isn’t a universal, panacea solution, but it did allow the majority of subjects in most trials to tolerate, for instance, the equivalent of several peanuts, despite being deathly allergic to peanuts, reducing their severe allergic responses down to minor versions of the same; this is one of many drugs that was originally approved to treat other things, in this case asthma, hives, and nasal polyps, but which has now been successfully repurposed for other utilities.

—Ars Technica

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Capital One is buying Discover Financial for $35 billion

Summary: Capital One has announced that it will buy Discover Financial Services for more than $35 billion.

Context: If this deal is allowed by regulators, it would create a new credit card company worth more than $52 billion; Discover has suffered a fair bit of internal and regulatory tumult in recent years, and has been approached by many financial institutions about an acquisition over the course of the past decade, as many banks and credit card-issuers would love to have their own payment system to help them become less reliant on entities like Visa and Mastercard, and that’s something Discover offers, though on a smaller scale; the acquisition would also allow Capital One to increase the number of wealthy cardholders they have on their books, balancing out the large number of low credit-score credit card customers they currently have on their roster.

—The Wall Street Journal

South Korean doctors walk out, protesting plan to increase their ranks

Summary: Medical interns and residents walked off the job at major South Korean hospitals yesterday to protest a government plan to increase the number of doctors in the country by allowing more students into local medical schools.

Context: South Korea has one of the lowest doctors-per-capita ratios in the wealthy world, and that combined with a rapidly aging population has made attaining medical care more and more difficult; the government says it needs to increase the number of doctors in the country to address this shortage, but the protesting medical professionals say that the real issue is overwork and low compensation, including shifts that last longer than 24 hours and 80-plus hour weeks, which makes holding onto medical professionals difficult.

—The New York Times

While the conflicts in Ukraine and Gaza have been horrendous by most metrics, they’ve been pretty good for US defense companies, bringing in more than $80 billion in major arms deals in 2023 (through September), alone, which is more than five-times the norm.

—The Wall Street Journal

$139

Approximate price of a monthly dose of Type 2 diabetes / weight-loss drug Ozempic in China via online retailer JD.com, which is a lot cheaper than the $970 some people pay for the same in the US.

That lower price is possible because of the country’s thriving gray market for drugs, and though lower prices are also available in the US and other countries (via similar gray markets), there’s little regulation of such markets in any region, and that sometimes leaves customers with less-than-pure versions of what they order (though these options also point at a gap between how cheaply a drug can be attained by some people or agencies, compared to how much it generally costs on the open market).

—The Wall Street Journal

Trust Click

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