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Your Friday Briefing

Published
7 months agoon

The strain of Europe’s sizzling summer
A scorching European summer has affected nearly every part of the economy and even its normally cool regions, a phenomenon aggravated by human-caused climate change. Across the continent, people have experienced wildfires, harvest-threatening drought and extreme heat.
The heat has also exposed the vulnerabilities of Europe’s energy system, already laid bare by the loss of Russian gas to E.U. sanctions. Wildfires in Britain have left thousands of northern homes without electricity; drought in Germany has dried up the waterways crucial for transporting coal; and in France, warming rivers have complicated the flushing of nuclear reactors.
Hydropower makes up 90 percent of Norway’s electricity and allows it to export power to several of its neighbors. But reservoir supplies have sunk to the lowest point in 25 years, driving up prices and political tensions. While Norway is eager to integrate into the European market, the country, which is rich in gas and oil, is under pressure to keep more of its energy for itself.
Analysis: “The best way to solve this crisis and get energy security is to as fast as possible be independent from Russian gas,” said Steffen Syvertsen, the chief executive of Agder Energi. “But that is a big task.”
Tensions at the Zaporizhzhia nuclear plant
The Russian and Ukrainian militaries have accused one another of preparing to stage an imminent attack on the Zaporizhzhia nuclear plant in Ukraine, risking a catastrophic release of radiation. Russian forces seized control of the sprawling plant, Europe’s largest nuclear power station, in early March but have kept Ukrainian staff there to operate it.
The Ukrainian intelligence agency yesterday said that engineers employed by Rosatom, the Russian state nuclear company, had “urgently” left the plant and that only “operative personnel” would be allowed at the plant on Friday. A Ukrainian plant employee said that workers were terrified. “Everyone is scared of tomorrow’s provocations announced by Russia,” she said.
For the first time in history, nuclear power plants are squarely in a war zone. For many Ukrainians, the risk is all too familiar: The Chernobyl plant, site of the world’s worst nuclear accident in 1986, lies in Ukraine, north of Kyiv, the capital. Russian forces seized that plant, too, early in the war, before withdrawing.
Shelling: The complex has been hit several times already, with each side blaming the other. Russian military units have taken up positions on and around the grounds, prompting charges that they are using Zaporizhzhia as a shield, knowing that the Ukrainians are reluctant to fire back.
In other news from the war:
The fight to replace Boris Johnson
Britain’s Conservative Party is in the throes of a rancorous campaign to choose a new leader. If, as expected, Liz Truss is elected next month, she will take power during a period of immense economic stress, with soaring energy prices because of the war in Ukraine, supply-chain disruptions and the hollowing out of the British labor market by Brexit.
And yet the multiple shocks Britain faces seem strangely disconnected from the contest to succeed Boris Johnson, the prime minister. The blinkered nature of the debate, analysts say, reflects the peculiarities of the British political system: Only rank-and-file members of the Conservative Party can vote for the next leader.
That constituency, estimated at around 160,000 people, is on average older, whiter and wealthier than most Britons. For this rarefied group, Truss’s promise of tax cuts is more alluring than stark warnings that Britain needs to batten down the hatches. Her opponent, Rishi Sunak, who argues that the government must first tame inflation, is trailing in the polls.
Johnson: The caretaker prime minister is on vacation in Greece, having skipped the chance to hold a crisis meeting with his would-be successors.
Labor unrest: Train travel in Britain largely ground to a halt this week after railway workers walked out over wage disputes, the latest work stoppage in a summer of strikes.
THE LATEST NEWS
Other Big Stories
“The burden of proof should be on the Met to prove the Met has the right to legally own Cambodia’s national treasures.”
The Metropolitan Museum of Art, in New York City, has worked hard to build up its South and Southeast Asian collection. But 13 items came from a dealer who was later indicted as an illegal trafficker of Cambodian artifacts. Cambodian officials now say they believe many of those items were stolen.
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Hanae Mori, a Japanese couturier, was the first Asian woman to join the ranks of French high fashion. She has died at 96.
ARTS AND IDEAS
A feud over the Zulu throne
The Zulus have a new king. But it’s not clear exactly who he is.
South Africa’s largest nation has been gripped by a battle over the royal succession since King Goodwill Zwelithini’s death last year. Tomorrow, Misuzulu Sinqobile Zulu is expected to perform a ritual that will be a precursor to his formal coronation. Last weekend, his brother Simakade ka Zwelithini carried out the same ritual.
Misuzulu has already been recognized by the South African government and senior members of the royal family. But his right to the throne is being challenged by Simakade, King Zwelithini’s oldest living son. There has been a scuffle at the royal palace. At least one news outlet ran a poll asking readers to pick a king.
During a televised court hearing that weighed custom and constitutional law, a judge ruled in favor of Misuzulu. But his detractors have refused to accept the decision.
There’s more at stake than a royal title. The head of the Zulus will control a $3.9 million annual budget provided by the South African government. And as the traditional leader of 14 million people, the Zulu king also has a politically influential position.
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The F.D.A. Now Says It Plainly: Morning-After Pills Are Not Abortion Pills

Published
3 months agoon
December 23, 2022
The F.D.A. said it made the change now because it had completed a review of a 2018 application to alter the label that was submitted by Foundation Consumer Healthcare, a company that in 2017 bought the Plan B brand from Teva Pharmaceutical Industries. Agency officials said the pandemic delayed the review process and that the timing was not motivated by political considerations.
A spokeswoman for the company, Dani Hirsch, said in an interview that for its 2018 application, the company had not conducted any new studies but had submitted “what was already out there.”
In a statement, the company’s marketing director, Tara Evans, said “the misconception that Plan B works by interfering with implantation can present barriers to broader emergency contraception access. The Plan B labeling correction will help protect continued over-the-counter emergency contraception access and reduce confusion about how Plan B works and further clarify that Plan B does not affect implantation.”
Plan B One-Step and its generic versions — including brands like Take Action, My Way and Option 2 — contain levonorgestrel, one of a class of hormones called progestins that are also found at lower doses in birth control pills and intrauterine devices. The pills are most effective in preventing pregnancy if taken within 72 hours of sexual intercourse, although they can sometimes work if taken within five days.
Another type of morning-after pill, marketed as Ella and containing a compound called ulipristal acetate, is only available by prescription and is not affected by the F.D.A.’s label change. There has been less research on this type of pill, but studies suggest that it is highly unlikely to prevent implantation of a fertilized egg. In 2009, after months of scrutiny, Ella was approved for sale in overwhelmingly Catholic Italy, where laws would have barred it if it had been considered to induce abortions.
According to data published in 2021 by the Centers for Disease Control and Prevention, nearly one-quarter of women of reproductive age who have sex with men answered yes to the question: “Have you ever used emergency contraception, also known as ‘Plan B,’ ‘Preven,’ ‘Ella,’ ‘Next Choice,’ or ‘Morning after’ pills?” The agency did not break down the data by the type of pills taken.
As far back as the 1999 approval process, the maker of Plan B — Barr Pharmaceuticals, later acquired by Teva — asked the F.D.A. not to list an implantation effect on the label, The Times reported in 2012.
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Who are Caroline Ellison’s parents? Fraudster’s mom and dad are MIT economists

Published
3 months agoon
December 23, 2022
This apple fell far from the tree.
Caroline Ellison — who pleaded guilty to fraud charges related to her role in the FTX cryptocurrency scandal, which led to the extradition of Sam Bankman-Fried this week — is the daughter of high-profile economists at the Massachusetts Institute of Technology.
According to his curriculum vitae, Ellison’s father, Glenn Ellison, was educated at Harvard, Cambridge and MIT before becoming the Gregory K. Palm (1970) Professor of Economics at the latter.
In addition to coaching youth softball and his daughters’ middle school math teams, he writes “Hard Math,” a series of textbooks and workbooks about teaching arithmetic to younger students.
Glenn Ellison is also an Elected Fellow of the Society for the Advancement of Economic Theory and American Academy of Arts & Sciences.
Ellison’s mother, Sara Ellison, is also an accomplished academic. Armed with an undergraduate degree from Purdue University and a mathematical statistics diploma from Cambridge University, her profile shows she completed a doctorate at MIT in 1993.
Sara Ellison is currently a senior lecturer in the department alongside her husband.
“We were definitely exposed to a lot of economics [growing up],” Ellison, 28, once told Forbes.


Glenn and Sara Ellison were photographed by The Post outside their home in Newton, an affluent Boston suburb, earlier this month. Armed with several bags, they told reporters they were too “busy” to comment on the FTX scandal.
The eldest of three sisters — including Anna, 25, who now lives in Manhattan’s West Village — Ellison distinguished herself as a precocious math whiz at a young age.
When she was just 8 years old, she reportedly presented her father with a paper analyzing stuffed animal prices at Toys ‘R’ Us.


She went on to compete in the Math Prize for Girls while at Newton North High School before studying mathematics at Stanford University, where former professor Ruth Stackman described her to Forbes as “bright, focused, [and] very mathy.”
Ellison and Bankman-Fried, 30, crossed paths at the Wall Street trading firm Jane Street. Bankman-Fried’s parents are also both university lecturers, at Stanford in California. They became good friends and she joined Alameda Research, the hedge fund arm of the FTX crypto exchange, in 2018. She then became CEO in 2021. However, the company remained owned 90% by Bankman-Fried and 10% by another member of his circle.
In addition to documenting her supposed foray into polyamory on Tumblr, Ellison once boasted about drug use on social media.

“Nothing like regular amphetamine use to make you appreciate how dumb a lot of normal, non-medicated human experience is,” she tweeted in 2021.
Ellison reportedly admitted to Alameda employees that FTX had used client funds to bail out the fledgeling hedge fund during a video call in November. She was eventually terminated as CEO by insolvency professional and current FTX CEO John J. Ray III after FTX and Alameda filed for Chapter 11 bankruptcy.
She pleaded guilty to federal fraud charges on Monday, and has subsequently been released on $250,000 bail.

Although she could be sent to jail for up to 110 years for her part in the FTX-Alameda scandal — which has been said by federal prosecutors to have lost between $1 billion and $2 billion of customers’ cash — she is thought to have struck a deal with the feds for a much lighter sentence in return for her cooperation.
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News
Iran condemns Zelensky’s remarks to Congress as ‘baseless.’

Published
3 months agoon
December 23, 2022
Iran has condemned President Volodymyr Zelensky’s remarks to the U.S. Congress, warning the Ukrainian leader against further accusing Tehran of supplying weapons to Russia for use in the war.
Mr. Zelensky told Congress on Wednesday that Iranian-made drones “sent to Russia in hundreds” had been threatening Ukraine’s critical infrastructure, a view shared by American and European officials. In Iran, he said, Russia had found an “ally in its genocidal policy.”
A spokesman for Iran’s foreign ministry, Nasser Kanaani, called Mr. Zelensky’s comments “rude” and “baseless.”
“Mr. Zelensky had better know that Iran’s strategic patience over such unfounded accusations is not endless,” Mr. Kanaani said in a statement on Thursday.
Although Iran has officially denied supplying Russia with the weapons since Moscow’s invasion of Ukraine, U.S. officials have said that the first shipment was delivered in August.
Mr. Zelensky has said that drones used in Monday’s wave of predawn attacks on Kyiv and other Ukrainian cities were from a batch recently delivered to Russia by Iran. The strikes came after Biden administration officials said that Russia and Iran were strengthening their military ties into a “full-fledged defense partnership.”
The European Union last week condemned Iran’s military partnership with Russia as a gross violation of international law and announced new sanctions against Iranian individuals and entities over their roles in supplying the drones that Moscow has used to attack Ukrainian civilians and infrastructure. That followed a round of sanctions on Iranians over the drone deliveries in October.
Mr. Kanaani “once again emphasizes” that Iran has not supplied military equipment for use in Ukraine, the statement issued on Thursday added, and urged Mr. Zelensky to learn “the fate of some other political leaders” who were happy with U.S. support. It was not clear which other leaders the statement was referring to.
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