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   DealBook: R.F.K. Jr.’s rich backers; Microsoft’s C.E.O. takes the stand
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   Also, central bankers are still worried about inflation.
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             June 29, 2023
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              Good morning. In today’s newsletter: Robert Kennedy Jr. is popular among tech moguls; leaders of Microsoft and Activision testify in court; central bankers say inflation isn’t coming down soon; and big banks pass their stress tests. (Was this newsletter forwarded to you?
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                  Tech executives are drawn to Robert Kennedy Jr.’s iconoclastic takes.
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             The money men aiding Robert Kennedy Jr.’s political surge
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             As the 2024 race heats up, President Biden faces a persistent thorn in his side: Robert Kennedy Jr., the scion of the Democratic dynasty, who both touts an array of fringe theories and boasts
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              surprisingly durable poll numbers
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             .
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             The Times notes that Kennedy is drawing support from an array of political outsiders. But perhaps his most powerful base is a group of financial and tech moguls, including the Twitter co-founder Jack Dorsey, who have given him money and something arguably more important: exposure.
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              Kennedy speaks to many of their interests.
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             That includes things like cryptocurrency — he has spoken at industry conferences and accepts campaign donations in Bitcoin. Kennedy has also embraced some of their favored podcasts, speaking with popular hosts like Joe Rogan and the venture capitalists behind the show “All-In.”
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             And in
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              endorsing Kennedy
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             , Dorsey (who’s also a major Bitcoin booster) cited the candidate’s criticism of government censorship.
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              But Kennedy’s most powerful draw may be his iconoclasm,
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             particularly his willingness to buck institutional thinking on matters like the benefits of vaccines. (That has led to
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              YouTube removing a Kennedy interview
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             because it promoted vaccine misinformation.)
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             “I think he is a lower-intellect, Democratic version of Donald Trump, so he attracts libertarian-leaning, anti-‘woke,’ socially liberal folks as a protest vote,” Robert Nelsen, an investor at Arch Venture Partners,
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              told KFF Health News
             </a>
             this month.
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Well-heeled supporters have given him money and airtime.
             </span>
             Figures including Elon Musk and the investor David Sacks have
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              pushed for a public debate
             </a>
             between Kennedy and Peter Hotez, a vaccine researcher who criticized Rogan’s decision to let the candidate spout unfounded conspiracy theories on his show.
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             Sacks and his fellow “All-In” co-hosts Jason Calacanis and Chamath Palihapitiya have had Kennedy on their podcast as well, praising him for being “willing to engage in vibrant debates” and “tearing down all these institutions of power.” Sacks, who with Musk also interviewed Kennedy in a Twitter Spaces event, and Palihapitiya
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              held a fund-raiser
             </a>
             for him this month that, according to CNBC,
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              raised $500,000
             </a>
             .
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Meanwhile, the entrepreneur Mark Gorton helped create a Kennedy-focused PAC that, its leaders say, has raised at least $5.7 million. And CNBC reported that the investor Omeed Malik plans to host a $6,600-a-head fund-raiser in the Hamptons for Kennedy next month.
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              Smoke from Canadian wildfires again threatens U.S. cities.
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             New York City and other places in the Northeast are facing the
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              return of hazardous air quality
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             , after whitish smoke enveloped Midwestern cities like Chicago. Mayors warned residents to take precautions, raising the prospect of further disruptions to outdoor activities and businesses.
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              The Kremlin moves to seize the Wagner Group’s empire.
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             Russian officials told leaders in countries like Syria and the Central African Republic, where the mercenary group operated, that Moscow was
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              assuming its operations there
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             . Meanwhile, a top Russian general who had prior knowledge about the Wagner Group’s short-lived rebellion
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              has reportedly been detained
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             .
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              Nvidia warns against further U.S. curbs on A.I. chip exports.
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             The semiconductor giant’s C.F.O. said that additional steps to
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              limit sales to China
             </a>
             of chips meant for artificial intelligence systems could “result in a permanent loss of opportunities” for U.S. companies in a major market. Shares of Nvidia fell yesterday after The Wall Street Journal reported on White House deliberations about new export rules.
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             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Aspartame reportedly will be declared “possibly carcinogenic.”
             </span>
             The World Health Organization will say next month that one of the world’s most popular artificial sweeteners
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              could cause cancer
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             , according to Reuters. Aspartame is used in countless products, including diet sodas, chewing gum and candy.
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             The fate of Microsoft’s big deal may be decided soon
            </h2>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Yesterday was a big day in proceedings over the F.T.C.’s effort to block Microsoft’s $70 billion takeover of the video game titan Activision Blizzard, with
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              three key players testifying
             </a>
             : Satya Nadella, Microsoft’s C.E.O.; Bobby Kotick, Activision’s leader; and Jim Ryan, who heads Sony’s PlayStation division (and gave evidence by video).
            </p>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             If the presiding judge agrees to delay the transaction, as the F.T.C. is asking, Microsoft’s deal will probably die. But if she doesn’t, the agency may drop its opposition.
            </p>
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             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Nadella and Kotick said the takeover wouldn’t hurt consumers.
             </span>
             The Microsoft chief reiterated that top titles like Call of Duty wouldn’t be restricted to its Xbox platform. “If it was up to me, I would love to get rid of the entire ‘exclusives on consoles,’” he said — and blamed Sony for maintaining that business model.
            </p>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Kotick agreed: “You would have a revolt if you were to remove the game from one platform.” (That said, Ryan testified that he was worried about PlayStation receiving “degraded” versions of Call of Duty if the deal went through.)
            </p>
           </td>
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             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              But testimony showed that Microsoft isn’t averse to exclusives.
             </span>
             The company’s gaming chief, Phil Spencer, has acknowledged that the company held discussions about excluding other Activision games from PlayStation.
            </p>
           </td>
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             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              The F.T.C. sought to highlight contradictions in Microsoft’s case,
             </span>
             including Nadella’s recent boasts about sales figures for the latest Xbox console despite Spencer saying the platform was “not a robust business.” And the agency’s lawyers noted that Nadella had told investors the new business of
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              cloud gaming
             </a>
             was “one of the big bets that’s paying off,” despite downplaying the importance of that market in court.
            </p>
           </td>
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        </table>
       </div>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              A
             </span>
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              decision is expected as soon as Monday.
             </span>
             At points, Judge Jacqueline Scott Corley
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              seemed skeptical
             </a>
             of the F.T.C.’s questions. Historically, the F.T.C. drops its opposition to a deal if it loses an injunction request.
            </p>
           </td>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             If that happens, the last hurdle for Microsoft would be an appeal of a British regulator’s decision to block the transaction — a potentially even
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              more uphill battle
             </a>
             .
            </p>
           </td>
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             Central bankers issue a warning on inflation
            </h2>
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             Two big themes emerged from this week’s central bankers’ meeting in Portugal: Policymakers are far from finished raising interest rates as inflation remains stubbornly high, and it is not yet clear how high they will go.
            </p>
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             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              A significant data dump on inflation comes tomorrow.
             </span>
             The Commerce Department will publish its report on personal consumption expenditures (P.C.E.) at 8:30 a.m. Eastern, a few hours after the eurozone’s preliminary report on consumer prices is released.
            </p>
           </td>
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             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Both reports are expected to show that headline inflation is cooling,
             </span>
             but that prices are still well above policymakers’ 2 percent target.
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
             </span>
             Jay Powell, the Fed’s chair, said yesterday that “core” inflation — which excludes energy and food prices — will probably not reach that level until 2025.
            </p>
           </td>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              That is forcing the Fed’s hand on interest rates
             </span>
             . Powell added that the Fed could raise rates at consecutive meetings — and keep them at a “restrictive” level for some time. On the subject of cuts,
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              he said
             </a>
             “we’re a long way from that,” adding, “That’s not something we’re thinking about now.”
            </p>
           </td>
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        </table>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             The futures market this morning seems to be getting that message, betting on further rate increases this year and pushing out the forecast for cuts well into 2024.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
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         <tbody>
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            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              The good news:
             </span>
             Powell and his counterparts, including Andrew Bailey, the Bank of England governor, said that
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              a strong labor market
             </a>
             was keeping their countries out of recession — for now.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              What to watch tomorrow:
             </span>
             Economists forecast that “headline” P.C.E. came in at 3.8 percent in May, its lowest reading in two years. But “core” P.C.E. is expected to tell a different story, hitting 4.7 percent. A possible bright spot: Some economists expect that used car prices and rents will begin to recede this summer.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              In Europe, inflation is running hotter.
             </span>
             Its C.P.I. data is expected to show that prices rose by 5.7 percent from a year ago. Christine Lagarde, the E.C.B. president, has warned that inflation is beginning to become entrenched in all layers of the economy. Her antidote to that: More interest-rate increases are in the cards.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
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           <td style="padding-bottom:15px">
           </td>
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           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <h2 class="css-12n1aic" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
             $1 trillion
            </h2>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-style:italic;font-size:inherit">
              — The
             </span>
             <span style="font-style:italic;font-size:inherit">
              <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
               drop in the value of deals
              </a>
             </span>
             <span style="font-style:italic;font-size:inherit">
              announced in the first half of 2023, compared with the same period last year, according to Bloomberg. The fall in mergers, acquisitions and I.P.O.s makes this one of the worst periods for deal making in a decade, as high inflation, financing pressures and geopolitical tension have sapped activity.
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
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           <td style="padding-bottom:15px">
           </td>
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           <td style="padding-bottom:15px;border-top:1px solid #dcdcdc">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <h2 class="css-12n1aic" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
             How strong are the nation’s banks, really?
            </h2>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Months after Silicon Valley Bank’s collapse set off a panic over America’s smaller lenders, the Fed yesterday gave the
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              country’s biggest banks a clean bill of health
             </a>
             . But regulators warned that their recently concluded stress tests were just one way of evaluating stability — and that other risks could still pose a threat.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              What the tests found:
             </span>
             The country’s 23 biggest banks could withstand a 40 percent drop in commercial real estate prices — a major concern for lenders now — and $541 billion in losses without failing. They could also handle steep unemployment and sharp drops in home prices.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Though the examinations began well before SVB’s troubles in March, regulators did explore whether eight banks heavily involved in trading could withstand sudden panics in the markets for stocks, bonds and other financial instruments.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Bank investors were keenly watching the tests,
             </span>
             since strong results mean that lenders are likely to have their capital requirements lowered, allowing them to buy back more stock or pay increased dividends.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Banks are expected to unveil their new capital requirements tomorrow, along with any changes in investor payouts.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              But regulators warned that the stress tests aren’t the final word on banks’ health.
             </span>
             “This stress test is only one way to measure that strength,” said Michael Barr, the Fed’s top banking supervisor.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Regulators are still overhauling the rules. Beyond ramping up supervision, authorities are expected to tighten capital requirements, including for smaller lenders. That said, even if SVB had been subject to this year’s tests, The Financial Times notes, it
             <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              might still have passed
             </a>
             .
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               In other banking news: Bank of America is sitting on more than
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                $100 billion in paper losses
               </a>
               tied to bad bond trades, far more than its rivals.
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding-bottom:15px">
           </td>
          </tr>
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           <td style="padding-bottom:15px;border-top:1px solid #dcdcdc">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
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           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Enjoy all of The New York Times in one subscription — the original reporting and analysis, plus puzzles from Games, recipes from Cooking, product reviews from Wirecutter and sports journalism from The Athletic. Experience it all with a
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              New York Times All Access subscription
             </a>
             .
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="25" style="padding:0;font-size:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding:0;font-size:0;border-top:8px solid #000">
            <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:8px 0 25px 0;letter-spacing:.2px">
             THE SPEED READ
            </h3>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Deals
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               Hong Kong conglomerates have announced more than
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                $8 billion worth of asset sales
               </a>
               to help cut their debt loads amid rising borrowing costs. (Bloomberg)
              </span>
             </li>
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               The investment firm Silver Lake plans to
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                focus on only giant takeovers
               </a>
               , as its rivals instead keep busy with smaller deals. (FT)
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Artificial intelligence
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               Top news publishers, including The New York Times Company, are reportedly discussing the
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                creation of a coalition
               </a>
               to address the effects of artificial intelligence on their industry. (WSJ)
              </span>
             </li>
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               “How Easy Is It to
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                Fool A.I.-Detection Tools
               </a>
               ?” (NYT)
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
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          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Best of the rest
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               Some applicants for jobs at Bill Gates’s private investment firm were reportedly
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                asked invasive personal questions
               </a>
               by a third-party contractor that some experts contend were illegal. (WSJ)
              </span>
             </li>
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                OPEC banned reporters
               </a>
               from three major news organizations from its next meeting, the second time it has done so in a month. (Bloomberg)
              </span>
             </li>
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               Britain could
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                renationalize its biggest water utility
               </a>
               after the sudden exit of its C.E.O. and its struggles under $17 billion worth of debt. (Sky News)
              </span>
             </li>
             <li class="css-11scvta" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               South Koreans became a
               <a class="css-5nb5nb" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                year or two younger
               </a>
               instantly yesterday. (NYT)
              </span>
             </li>
            </ul>
           </td>
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