Vladimir Putin Visits Mongolia 🧑‍✈️

Good morning. It's Tuesday, Sept. 03, and we're covering, Huawei To Launch Major Product Soon After iPhone 16 Reveal, Brazil Escalates Tensions With Musk Over Starlink And X, Hamas Reveals New Hostage Instructions Amid Ongoing Gaza Conflict, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.07 Trillion, a 2.76% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $55.83B, which makes a 0.07% increase.

• The total volume in Defi is currently $2.93B, 5.25% of the total crypto market 24-hours.

• The volume of all stablecoins is now $51.69B, which is 92.58% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.28%, an decrease of 0.15% over the day.

BUSINESS & FINANCE

Huawei To Launch Major Product Soon After iPhone 16 Reveal

Huawei plans to unveil a new product on September 10 at 2:30 p.m. Beijing time, shortly after Apple’s iPhone 16 event scheduled for September 9. The specific details of Huawei's launch are unknown, but Richard Yu, the company's consumer and automotive technology head, has teased it as an "epoch-making" innovation. Yu claims the product represents a breakthrough, achieved after five years of development.

Takeaway: Huawei, previously a top global smartphone manufacturer, saw its business impacted by U.S. sanctions restricting access to advanced semiconductors. However, the company has made a strong comeback in China, where it recently outperformed Apple, which fell out of the top five smartphone vendors in the region. Huawei's product launch aims to capitalize on its renewed market strength and challenge Apple’s new offerings. (Read Deeper)

HP Pursues $4 Billion Claim From Late Autonomy CEO's Estate

Hewlett Packard Enterprise (HPE) is pressing ahead with its legal pursuit of up to $4 billion in damages from the estate of Mike Lynch, the former CEO of Autonomy, following his recent death. This move is part of a long-standing legal dispute between HPE and Lynch, which began after HPE's $11.7 billion acquisition of Autonomy in 2011. The acquisition's value was later written down by $8.8 billion due to alleged accounting irregularities.

Takeaway: In 2022, a U.K. civil court ruled against Lynch, finding that he was likely aware of fraudulent accounting practices at Autonomy. Lynch had been preparing to appeal this decision after being acquitted of fraud charges in the U.S. in June. However, Lynch's death in August has shifted the focus of the legal proceedings to his estate. (Read Deeper)

TECHNOLOGY & SCIENCE

Brazil Escalates Tensions With Musk Over Starlink And X

Brazil’s telecom regulator is threatening to sanction Elon Musk’s satellite internet company, Starlink, after the country’s Supreme Court upheld a ban on X (formerly Twitter). The court’s decision stems from X's failure to comply with orders related to disinformation and hate speech. Musk has criticized the actions as censorship, while Brazilian President Lula supports the measures as protecting democracy.

Why It Matters: Starlink refused to block access to X, unlike other telecom operators, leading to the potential revocation of its operating license in Brazil. This clash highlights a growing conflict between Musk's companies and Brazilian authorities over the regulation of digital platforms. (Read Deeper)

Seattle Startup Radian Aerospace Unveils Ambitious Space Plane

Radian Aerospace, a Seattle-based company, is developing the Radian One, a revolutionary space plane designed to reach orbit in a single stage, eliminating the need for multiple rocket stages. This space plane, set to be tested by 2028, will launch from a specialized runway using a rocket-powered sled, achieving speeds of Mach 0.7 before continuing to orbit under its power. Radian Aerospace’s project builds on advancements in materials and propulsion technology and hopes to set a new standard in space exploration.

Takeaway: The Radian One aims to reduce space travel costs significantly and will be reusable up to 100 times with a quick turnaround between missions. The design takes inspiration from the Space Shuttle but offers a more cost-effective solution. However, there remains skepticism about its economic viability compared to other launch systems like SpaceX’s Starship. (Read Deeper)

AROUND DE WORLD & POLITICS

Hamas Reveals New Hostage Instructions Amid Ongoing Gaza Conflict

Hamas' armed wing revealed that it has been operating under new instructions for handling hostages in Gaza since June, following an Israeli rescue operation. This comes after the Israeli military discovered six dead hostages in a tunnel in Rafah, allegedly shot by their captors as Israeli forces approached. Hamas holds Israel responsible for the deaths, claiming Prime Minister Netanyahu's military tactics are putting hostages at risk.

Takeaway: Efforts to negotiate a deal between Israel and Hamas have so far been unsuccessful. Hamas is seeking an end to the ongoing conflict and the withdrawal of Israeli forces from Gaza, while Netanyahu insists that the war will only end once Hamas is defeated. (Read Deeper)

Putin Visits Mongolia Despite ICC Arrest Warrant

Russian President Vladimir Putin arrived in Mongolia on Monday for an official visit, his first to an International Criminal Court (ICC) member country since the court issued an arrest warrant for him 18 months ago. The warrant accuses Putin of war crimes related to the abduction of Ukrainian children. During his visit, Putin will meet with Mongolian President Ukhnaa Khurelsukh and attend a ceremony commemorating the 1939 victory of Soviet and Mongolian forces over the Japanese army in Manchuria.

Takeaway: Ukraine has called on Mongolia to arrest Putin, but the country has not indicated it will comply. Mongolia relies heavily on Russia for fuel and China for investment, and the ICC does not have enforcement mechanisms to compel member states to execute arrest warrants. Despite international isolation over the Ukraine invasion, Putin has continued international travel, including visits to North Korea and Vietnam. (Read Deeper)

ENTERTAINMENT & SPORTS

Jannik Sinner Advances To Quarterfinals After Defeating Tommy Paul

Top-ranked Jannik Sinner secured his place in the US Open quarterfinals with a hard-fought victory over Tommy Paul at Arthur Ashe Stadium on Monday night. Sinner won 7-6 (7-3), 7-6 (7-5), 6-1, ending Paul's campaign and his consecutive fourth-round runs at the tournament. Sinner, who has had a standout year with a Grand Slam win at the Australian Open and strong performances at the French Open and Wimbledon is now one of only five players under 23 to reach all four major quarterfinals in a single season in the Open era. (Read Deeper)

Ten Hag Retains Support Despite Liverpool Defeat

Manchester United manager Erik ten Hag retains backing from senior figures at Old Trafford despite a challenging start to the season. After a 3-0 home loss to Liverpool dropped United to 14th in the Premier League with just three points from three games, Ten Hag is under pressure to turn things around. The defeat follows last season’s disappointing eighth-place finish, which was somewhat mitigated by an FA Cup win against Manchester City. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Graco Inc., a major player in fluid handling equipment and industrial products, is renowned for its diverse range of products and its impact across various industries. (Listen)

EXTRA BREVITI

• Robert Reich, former Labor Secretary under President Bill Clinton, recently wrote a column criticizing Elon Musk, calling him "out of control." (Read More)

• SparkLabs has announced the closing of its new $50 million fund, named the AIM AI Fund, aimed at investing in artificial intelligence startups globally. (Read More)

• The United States has suspended direct flights from Lagos following Nigeria's loss of FAA Category One status. (Read More)