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Daily Briefing

Former Italian PM Silvio Berlusconi has died, Ukraine says its troops have recaptured a fourth village in counteroffensive gains, and billionaire financier George Soros is handing control of his massive empire to his son.

Plus, the best of the Tony Awards.

By Kate Turton

Today’s Top News

Italy’s Prime Minister Silvio Berlusconi speaks at the opening of his People of Freedom bloc congress in Rome, Italy, March 27, 2009. REUTERS/Remo Casilli

AROUND THE WORLD

Former Italian Prime Minister Silvio Berlusconi, a billionaire businessman who created Italy’s largest media company before transforming the political landscape, died aged 86. Silvio Berlusconi’s gaffes, quips and quotes.
North Korean leader Kim Jong Un has vowed to “hold hands” with Russian President Vladimir Putin and bolster strategic cooperation on their shared goal of building a powerful country, state media KCNA reported.
Gender inequality has remained stagnant for a decade, according to research by the United Nations, as cultural biases and pressures continue to hinder women’s empowerment and leave the world unlikely to meet the UN’s goal of gender parity by 2030.

WAR IN UKRAINE

Ukraine said its troops had recaptured a fourth village in a cluster of settlements in the southeast, a day after reporting the first small gains of a counteroffensive against Russian forces. Ukraine President Volodymyr Zelenskiy acknowledged that his military was engaged in “counteroffensive and defensive operations“.
For Kherson resident Iryna Radetska, the catastrophic flooding of her city after the giant Kakhovka dam was destroyed is the latest chapter in more than a year of wartime suffering. Few places have felt the extent of suffering that Kherson has since Russia invaded Ukraine in February last year.

US NEWS

Evan Corcoran, a lawyer hired by Donald Trump to fend off a federal investigation into his handling of sensitive documents, is now a central figure in the Justice Department’s criminal case against the former president. The Reuters World News podcast discusses why he has become important to the prosecution’s case.
Trump used the first public appearance since his federal indictment to ratchet up attacks on the Justice Department, accusing prosecutors, without evidence, of a politically motivated campaign to keep him from the White House.
A portion of a vital highway on the East Coast, I-95, collapsed in Philadelphia after a tanker truck carrying gasoline caught fire underneath an overpass.

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Business & Markets

Billionaire financier George Soros is handing control of his massive empire to his son Alexander. Speaking of his decision to turn over his foundation and the rest of his $25 billion empire to his 37-year-old son, the elder Soros said: “He’s earned it.”
UBS said it had completed its emergency takeover of embattled local rival Credit Suisse creating a giant Swiss bank with a balance sheet of $1.6 trillion and greater muscle in wealth management. Explainer: UBS has Swiss mountain to climb with Credit Suisse.
The CEO of ChatGPT maker OpenAI, Sam Altman, said a tour of capital cities had left him “quite optimistic” about prospects for global coordination on artificial intelligence.
The number of fossil fuel companies setting net-zero emissions targets has risen sharply over the past year, but most fail to address key concerns, making them “largely meaningless”, a report showed. Sign up for the Sustainable Switch newsletter.
Novartis has agreed to acquire Seattle-based biotech firm Chinook Therapeutics for up to $3.5 billion to boost its late-stage drug development line-up with a new treatment for a rare severe kidney disease.

Rich US subsidies may hobble Canada’s clean-fuel efforts

Tidewater Renewables’ renewable diesel and renewable hydrogen complex at the refinery in British Columbia, Canada June 6, 2023. Tidewater Renewables/Handout via REUTERS

Canadian biofuels producers are threatening to build their next projects in the United States to cash in on rich subsidies for clean fuel and stay competitive, a move that could cost Canada C$10 billion ($7.5 billion) of investment and undermine Prime Minister Justin Trudeau’s efforts to build a greener economy.

Reducing fuel’s carbon intensity is critical to Canada’s efforts to curb greenhouse gas emissions by at least 40% from 2005 levels by 2030. Biofuels are alternatives to petroleum-based fuels made from low-carbon sources such as crops and wood waste.

Read more on how US subsidies are luring biofuels producers away from Canada

And Finally…

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Julianne Hough and Ariana DeBose perform onstage. REUTERS/Brendan Mcdermid

A gallery of the best moments from the 76th Tony Awards, the highest honors in America theater.

Read more here: Highlights from Broadway’s biggest night

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