Russia defaulted on its foreign debt — Quartz Daily Brief — Quartz
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Russia defaulted on its foreign debt. Missed payments are the first in the country since 1918 and were more because of Western sanctions than lack of money.
NATO wants a huge increase in forces. A new plan will be prepared more than 300,000 soldiers for deployment, compared to 40,000 currently located on the eastern flank of the alliance. The announcement comes as a Russian rocket hits a busy mall in the Ukrainian city of Kremenchuk.
The Indian stock market hit a two-week high. Tech and metal stocks led the charge, but analysts say the gains are likely temporary as rate hikes and other economic pressures loom.
Google has come under increased antitrust scrutiny in the EU. A Danish job board has accused the tech giant of pushing his own service and divert job seekers from other sites.
The United States and Taiwan have started economic and trade talks. Conversations will be useless growing tensions between the United States and China, but come as announced by the Taiwanese company GlobalWafers plans to build a $5 billion factory in Texas.
Snack maker Weilong Delicious has relaunched its IPO. The $500 million list could be one of the largest in Hong Kong This year.
It’s been a big week for the United States Supreme Court. To be continued: a decision to severely limit the powers from the US Environmental Protection Agency.
The plaintiffs, which include several companies in the coal and mining industry and Republican attorneys general, argued that the EPA exceeded its legal mandate in a controversial rule on the regulation of greenhouse gas emissions – only this rule does not exist and never really existed. The Obama administration’s 2015 Clean Energy Plan was challenged, repealed, and then replaced by the Affordable Clean Energy Rule in 2018 (from custodyand there is no new rule Again).
The court could refuse to rule until a new EPA rule is issued, or, it could say the EPA is missing”beyond the fence” authority but can regulate individual power plants. In the worst case, the decision could lead to the reversal of the historic decision which established agency law regulate CO2 and greenhouse gas emissions.
The Next Abortion Battleground
More than half of all abortions in the United States are medical abortions, which means they are induced by pills. Many of these pills are mailed out following a telehealth consultation, making the US Postal Service, a federal agency, one of the primary abortion access channels.
As some US states move to impose abortion bans, pills in the mail will become a legal challenge as well as an enforcement issue. Here’s where the lines are drawn, for now:
💊 States can regulate access to healthcare within their borders, but they cannot regulate federal mail. And monitoring the contents of every package is unrealistic, especially in a post-pandemic world.
💻 States can take telehealth shots, but these attempts are easy to circumvent.
⚙️ States are great, but Big Pharma is a beast. Abortion pill makers are already suing states, arguing that federal approval of a drug trumps state laws.
Africa’s untapped insurance potential
Africa has one of the lowest insurance penetration rates in the world: less than 3%.
The mainland’s insurance industry is struggling for several reasons, the main one being the lack of development. Getting insurance is a long and complex process, and people are skeptical of providers due to long claims processing times that rarely materialize.
But Africa’s appetite for insurance continues to grow.
Our latest Quartz Africa Membership Brief aimed to wake up Africa’s sleeping giant: the insurance industry. ✦ Read this issue, browse the archives and get a new one every Wednesday in your inbox by signing up to Quartz Africa today. And hey, go ahead and enjoy 35% off.
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Surprising Discoveries – Superlative Edition
The most complete mummified mammal has been found in the Americas. “She’s perfect and she’s beautifulsaid a paleontologist of the 35,000-year-old baby woolly mammoth.
The deepest wreck was discovered off the Philippines. The US Navy destroyer was found at 6,985 meters (22,916 ft) below the surface.
Bored & Hungry has to be the most confusing restaurant. The NFT-themed burger restaurant in Los Angeles has decided to no longer accept cryptocurrency.
Our rudest friend criterion is that they smell like us. Yes, humans feel all the time.
The world’s worst hotel has rooms with no walls tucked between a highway and a gas station. Tenants are not supposed to sleepbut rather reflect on the climate crisis and other horrors.
Our best wishes for a productive day. Send all news, comments, olfactometers and peaceful sleep to [email protected] Reader support makes Quartz accessible to everyone – become a member. Today’s Daily Brief is brought to you by Julia Malleck, Susan Howson and Morgan Haefner.