Trending Now
We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy.
Economy
Members of the International Longshoremen's Association strike for higher wages and protection from automation outside Red Hook Terminal in Brooklyn, New York, on Oct. 2, 2024.
The International Longshoremen’s Association announced late Thursday it would suspend the two-day-old strike across America’s East and Gulf Coast ports after reaching a tentative deal with their employers.
The deal reportedly includes a 62% rise in wages over the course of six-year contracts, which works out to about a $4 an hour wage increase per year. Workers won’t see the benefit for a few months though, as their current contract, which expires Tuesday, has been extended to Jan. 15, 2025.
President Joe Biden, who had pressed both sides to come to a deal — in no small part because of the political ramifications of a crucial labor strike five weeks before an election — praised the quick resolution. “I congratulate the dockworkers from the ILA, who deserve a strong contract after sacrificing so much to keep our ports open during the pandemic. And I applaud the port operators and carriers who are members of the US Maritime Alliance for working hard and putting a strong offer on the table,” he wrote in a statement.
With the threat of major economic disruptions from the strike now off the table, the week just got a little bit easier for Vice President Kamala Harris’ campaign — and with polls showing essentially a dead-heat race, she’ll take any little advantage she can get.
In a GZERO Global Stage discussion at the 79th UN General Assembly, IMF Managing Director Kristalina Georgieva expressed pride in the institution’s proactive response during a period marked by global crises. Georgieva emphasized that the IMF’s role extends beyond financial aid by helping countries build strong policies and institutions, ensuring resilience in the face of shocks.
“We are growing this year 3.2%, next year 3.2%. And it is because of this foundation that has been built over the decades of strong policies and good institutions. Where you have it, shocks do not crush you.”
However, Georgieva emphasizes that as the world evolves, so too must the IMF. She highlights how the IMF recently added a third chair for Sub-Saharan Africa to enhance representation and legitimacy in its governance structure.“
If you want to be respected and legitimate, we have to show that we are not stuck in our glorious past, that we are forward leaning, so countries can think of us as their family, that it is inclusive and embracing all of our members.” Click here to watch the full conversation.
In a court filing unsealed on Wednesday, special counsel Jack Smith said Donald Trump “resorted to crimes” in an effort to retain power despite losing the 2020 election, including pressuring then-Vice President Mike Pence not to certify electoral votes. Smith is trying to persuade Judge Tanya Chutkan that the former president’s actions were of a personal nature, and thus don’t fall under the sweeping protections for presidential acts the Supreme Court granted earlier this year.
The unsealed documents recount a Nov. 12, 2020, meeting between Trump and Pence where the vice president attempted to deflect pressure from Trump by offering avenues for deescalation and a peaceful transfer of power. “Don’t concede but recognize the process is over,” Pence told him, urging Trump to instead run again in 2024. According to the filing, Trump replied that he was not willing to wait.
If Smith is successful, the acts in question may remain a part of the indictment against Trump as the case moves forward. If not, the government has a harder case to make. Either way, there will be no resolution before the November election — and if Trump wins, well, all bets on Smith’s case are off.
A person takes photos of the waves as Typhoon Krathon approaches in Kaohsiung, Taiwan October 2, 2024.
2: At least two people are dead in Taiwan, and 70 injured, from weather attributed to Typhoon Krathon, which is expected to make landfall on the densely populated west coast of the Island on Thursday. Thousands have been evacuated from areas at risk of floods or landslides. One elderly man fell off a ladder while pruning a tree near his house in preparation for the storm, and another crashed into fallen rocks while driving. Western Taiwan is usually sheltered from major storms by its east coast mountain ranges and Taipei has put 40,000 troops on standby for expected rescue operations.
2: Two high-profile Beninese political figures were arrested on Tuesday on suspicion of plotting a coup against President Patrice Talon, allegedly having attempted to bribe the head of the Republican Guard. Benin is one of the most stable democracies in West Africa — even the communist dictatorship that ruled 1975-1990 handed over power peacefully — and was not previously believed to be at risk of extralegal regime change.
40: Vietnamese media reported Wednesday that some Vietnamese fishermen were severely injured in a clash near the disputed Paracel Islands in the South China Sea after around 40 foreign sailors boarded their vessels and beat the crews with iron bats on Sunday. The hull numbers of the alleged aggressors correspond with local Chinese maritime patrols, and Beijing confirmed an operation against Vietnamese fishermen near the Paracels but denied Hanoi’s version of events.
80: A long-forgotten US bomb dating back to World War II buried deep beneath a taxiway at Japan’s Miyazaki Airport suddenly exploded on Wednesday, causing a large crater and the cancellation of at least 80 flights. No one was harmed, thankfully, though hundreds of unexploded US bombs remain buried in Japan and are sometimes dug up during construction projects.Japan's Prime Minister Shigeru Ishiba arrives for a group photograph with his new cabinet members at the prime minister's official residence in Tokyo, Japan, October 1, 2024.
2: He may think women should inherit the imperial thrones, but that doesn’t mean Japan’s Prime Minister-elect Shigeru Ishiba is an equal opportunity employer. Of his 19 newly appointed Cabinet ministers, only two are women, whom he’s appointed as children’s policy minister and education minister. His appointments also included two former defense ministers Ishiba has worked with in the past – one as foreign minister, another as his defense chief – signaling the new PM’s focus on security issues.
5.4 million: Hunger amid horrifying gang violence in Haiti has led nearly 6,000 people to the brink of starvation, according to a new report by the Integrated Food Security Phase Classification. Nearly half the 11-million-strong country – a whopping 5.4 million Haitians – are facing crisis levels of hunger and famine. The Kenyan-led intervention force has had its UN mandate extended by a year, but an effort to turn it into a formal UN peacekeeping mission was stymied by China and Russia.
12: Running for office in Tunisia can win you … years behind bars, apparently. Ayachi Zammel, a candidate in the country’s Oct. 6 presidential election, is facing 12 years in jail for cases related to voter endorsements, his lawyer said. Zammel, who remains on the ballot, was one of just two candidates approved by Tunisia's electoral authority ISIE to challenge President Kais Saied.
1.8: European homebuyers may have cause to celebrate: Inflation in the Eurozone last month dropped to 1.8%, coming in below the European Central Bank’s 2% target for the first time in three years. As a result, the ECB is expected to drop the rate by a quarter point when it meets on Oct. 17.
2: Award-winning journalist Mech Dara has been arrested and charged for social media posts that could “incite social unrest,” a Cambodian court said. Dara, who has reported on corruption and human trafficking, faces a two-year sentence if convicted, and human rights groups are calling for his release.Hard Numbers: Geoglyph spotting, AI revenue surge, CAPTCHAS solved, ByteDance’s chip hoard, Helene’s chip damage
A drone view shows an ancient geoglyph depicting a tree at the Nazca Lines archaeological area in Nazca, Peru, January 18, 2024.
303: Archaeologists have discovered 303 giant symbols carved into Peru’s Nazca Desert, thanks to artificial intelligence. The famous and mysterious Nazca geoglyphs are giant drawings in the ground, easily visible from high up — some are nearly 2,000 years old. The research team, led by Japan’s Yamagata University with help from IBM’s Watson Research Center, trained an AI model on existing geoglyphs to identify potentially undiscovered symbols.
11: AI companies are making money more quickly than previous waves of hyped-up software companies, according to a new data analysis from the payments company Stripe. It found that it took only 11 months for the top 100 highest-grossing privately held AI companies to make $1 million in annualized revenue as opposed to software-as-a-service companies in 2018, which took 15 months to hit that mark.
100: AI bots are now smart enough to solve 100% of those pesky traffic-image CAPTCHA — the ones put it in place to make sure you’re, you know, human. Thankfully, those images, known as Google’s ReCAPTCHA v2, are no longer industry standard. The newest version, reCAPTCHA v3, is an “invisible” test that tries to prove humanity based on how you interact with a given web page.
100,000: ByteDance reportedly has ordered 100,000 Ascend 910B chips from Huawei to aid the training of a new AI model. TikTok’s parent company also depends on Nvidia chips and Microsoft cloud services, but the new model will be mostly trained with chips from Huawei, a fellow Chinese tech giant. A ByteDance spokesperson refuted the report from Reuters, saying, “The entire premise here is wrong. No new model is being developed.”
70: Hurricane Helene has ravaged North Carolina, including a small town called Spruce Pine, which is home to 70% of the naturally occurring high-purity quartz. This kind of quartz is critical to the global semiconductor trade — used for crucibles, containers that can hold high-temperature materials, and other parts of chips themselves. The two companies there, Quartz Corp and Unimin, have temporarily halted operations — if they can’t get back up and running soon, delays could afflict the global chip supply chain.
FILE PHOTO: California Governor Gavin Newsom (D) reacts as he speaks to the members of the press on the day of the first presidential debate hosted by CNN in Atlanta, Georgia, U.S., June 27, 2024.
California Gov. Gavin Newsom on Sunday vetoed the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, or SB 1047, the AI safety bill passed by the state’s legislature in August.
Newsom has signed other AI-related bills into law, such as two recent measures protecting performers from AI deepfakes of their likenesses, but vetoed this one over concerns about the focus of the would-be law.
“By focusing only on the most expensive and large-scale models, SB 1047 establishes a regulatory framework that could give the public a false sense of security about controlling this fast-moving technology,” Newsom wrote in a letter on Sept. 29. “Smaller, specialized models may emerge as equally or even more dangerous than the models targeted by SB 1047 — at the potential expense of curtailing the very innovation that fuels advancement in favor of the public good.”
Democratic state Sen. Scott Wiener, who sponsored the bill, called the veto a “setback for everyone who believes in oversight of massive corporations that are making critical decisions that affect the safety and welfare of the public and the future of the planet.” Wiener hasn’t disclosed the next steps but vowed to continue pushing the envelope on AI regulation in the state. “California will continue to lead in that conversation — we are not going anywhere.”