40: The Biden administration has touted its success in boosting infrastructure and technology investment, particularly through the Inflation Reduction Act and CHIPS Act. But nearly 40% of the biggest projects (those worth more than $100 million) have been delayed or paused, the FT found, leaving more than $80 billion in limbo. Weakening demand and growing election uncertainty have caused companies to hit the brakes.
100,000: More than 100,000 people have fled or been displaced from Southern Lebanon, according to the International Organization for Migration. Since Oct. 7, Israel and the Lebanese militants of Hezbollah – whose strongholds are in the South – have exchanged increasingly destructive cross-border fire, while stopping short of unleashing full-scale war … so far.
32 billion: Indonesian President Joko Widodo on Monday held his country’s first-ever cabinet meeting in the planned new capital city of Nusantara. A $32 billion megaproject meant to ease the burden on the overcrowded, polluted, and sinking traditional capital of Jakarta, Nusantara has been plagued by years of delays and lack of investment. It is the signature infrastructure project of Widodo, who will step down after two terms in office later this year, due to term limits.
3: The FBI announced Monday it was investigating suspected Iranian phishing attacks against three staff members of the Kamala Harris-Tim Walz campaign, in addition to investigating the breach of Donald Trump's campaign that was revealed over the weekend. The FBI confirmed it is pursuing a broad investigation and has coordinated with Google and other tech companies used by the presidential campaigns. Tehran denies any “intent or motive to interfere in the United States presidential election.”
47,000: Last year, the hottest on record, more than 47,000 Europeans died from heat-related causes, according to a new study. The good news is that the number was far lower than it might have been absent advances in health care, increasing use of air-conditioning on the continent, and better public health messaging about the risks of extreme heat, particularly for the elderly.
3: This year the Russian economy is expected to grow more than 3%, outpacing 95% of the world’s rich countries. What gives? Isn’t this an isolated, demographically declining economy suffering from a huge brain drain since it invaded Ukraine? Yes. Isn’t inflation at its highest point so far this year? Yes. But a combination of huge military outlays, vast increases in social spending, solid oil exports to China and India, and an array of measures to shield ordinary Russians from high interest rates are still keeping the party going … for now.
