1.3 billion: Tensions between US tech firms and EU regulators hit a new level Monday as the EU slapped Meta with a record $1.3 billion fine for privacy violations, ordering the social media giant to stop keeping European users’ data on US servers. The EU’s strict privacy laws, passed in 2018, grew partly out of the Snowden revelations of US electronic spying. Washington and Brussels have so far failed to reach a pact that balances those EU norms with tech firms’ appetite for the user data that they need in order to generate ad revenue.
53 million: Nigeria, Africa’s top oil producer, is gearing up to be a major exporter of refined fuels like gasoline and diesel too. After years of cost overruns and construction delays, the country finally opened its Dangote oil refinery, which is set to produce 53 million liters of fuel daily, about 20 million liters more than Nigeria typically consumes. The rest is slated for export which, energy experts say, could reshape Atlantic gasoline markets.
7: Air strikes and clashes continued in Khartoum on Tuesday despite a seven-day ceasefire between the warring factions in Sudan’s civil war, which began a day earlier. Under the terms of the truce, backed by the US and Saudi Arabia, fighters are to withdraw from hospitals and other key civilian facilities and allow for the distribution of humanitarian assistance. Several prior ceasefires have promptly collapsed.
86,600: Armenia’s Prime Minister Nikol Pashinyan said Monday that he is ready to recognize the enclave of Nagorno-Karabakh as part of the “86,600 square kilometers of Azerbaijan’s territory” so long as Baku guarantees the rights of the ethnic Armenian majority that lives there. The two countries have been at war over the territory since the Soviet collapse. In 2020, Azerbaijan effectively surrounded the area.
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GZERO World with Ian Bremmer is returning to your screens this week, kicking off Season 9 in a summer of sweltering global tensions. The United States is celebrating its 250th birthday, a war has reshaped the Middle East, AI is forcing humanity to confront profound ethical choices, and democracies around the world are bracing for what comes next. Host Ian Bremmer is here to make sense of it all.
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As America approaches its 250th anniversary, Bank of America is investing in the legacy of leadership — committing $5M to the Theodore Roosevelt Presidential Library and conserving 110 presidential portraits at the Smithsonian National Portrait Gallery, so the history of leaders who defined our nation is preserved for generations to come. Learn more here.
In his latest “ask ian,” Ian Bremmer says the US and China should use their growing engagement to address two major global challenges where cooperation could have an outsized impact: the war in Ukraine and the risks posed by artificial intelligence.
The trade bloc is also reducing its quota of tariff-free steel imports, as trade tensions mount with Beijing.
