China has made leaps and bounds in the mRNA technology race as it recently approved its very own homegrown vaccine as a means of jumpstarting its economic recovery. At the same time, the Federal Reserve hiked its key interest rate in the banking sector to signal that recent financial panic will be managed.
On the other side of the world, 100 Starbucks branches in the U.S. has been dealt a blow as employees went on a walkout to welcome newly appointed CEO Laxman Narasimhan. Meanwhile, Uganda passed a bill criminalizing the LGBTQ community punishable with jail sentences and even the death penalty in some cases.
There were friendly exchanges between Chinese president Xi Jinping and Russian president Vladimir Putin in Moscow. This is indicative of their strong relationship that is further manifested by the rising energy trade between the two countries.
Today, Shou Zi Chew, CEO of TikTok, will appear in front of the US Congress and face questioning on a variety of issues such as the platform’s engagement with children, data security practices, and relations to the Chinese Communist Party. His aim is to convince Congress that no regulated ban is necessary.
Ukraine recently acquired a loan from the International Monetary Fund for the first time during a war. This is certainly not the country’s first experience with the IMF as it has been one of the organization’s top debtors.
The Indian milk market is also rising while nations are hoarding bird flu vaccines despite their nonexistent form, GameStop struck its first profitable quarter in two years, and Virgin Orbit’s longevity is in question. Meanwhile Putin is strengthening the yuan’s role as Russia’s preferred foreign currency of choice.
Silicon Valley Bank’s Christmas sweater, which first went up for sale at a price of $35, had a vintage feel to it. The Writers Guild of America is also allowing AI to write screenplays with the requirement that credit still goes to the authors.
Beethoven’s genome was also entirely sequenced and doctors believe that a worsening of his liver condition, likely exacerbated by his drinking habits, caused his death. In a more uplifting turn of events, an endangered turtle became a father for the first time at 90 years old!
Adam Smith, the recognized father of capitalism, never mentioned the word ‘capitalism’ even once in his texts. More misunderstandings related to Smith’s foundational economic ideals can be found in the latest episode of the Quartz Obsession podcast.
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