🔥 Iranian President Seeks Stronger Ties with Russia Amid Middle East Tensions

Good Morning. 

The Biden administration is investing $2.2B to upgrade the U.S. power grid, aiming to protect it against extreme weather events and meet growing energy demands.

This investment will support 8 projects across 18 states, adding nearly 13 gigawatts of capacity and improving transmission of renewable power.

The initiative comes as the country faces record-breaking temperatures and increasing pressure on the electric transmission system from extreme weather and power-hungry data centers.

— 🐈‍⬛ Acoustic Kitty

THE BOTTOM LINE UP FRONT

Iranian President Masoud Pezeshkian met with Sergei Shoigu, a close ally of Russian President Vladimir Putin, expressing Iran's desire to expand relations with Russia, which he called a "strategic partner."

The meeting took place as Iran considers its response to the recent killing of Hamas leader Ismail Haniyeh, with both countries condemning the assassination and calling for restraint to prevent a wider regional conflict.

Russia has been cultivating closer ties with Iran amid its war with Ukraine, including reported military cooperation, while the U.S. expresses skepticism about Russia's ability to play a productive role in easing Middle East tensions.

INTERNATIONAL SECURITY & DIPLOMACY

Counterterrorism

• A Pakistani man with alleged ties to Iran has been charged with plotting to assassinate high-ranking U.S. officials, potentially including former President Trump, in a foiled scheme involving undercover FBI agents posing as hitmen.

• Hamas has appointed Yahya Sinwar, the mastermind of the October 7 attack on Israel, as its new leader following the assassination of Ismail Haniyeh in Tehran, signaling a continuation of the group's militant stance.

• The U.S. is urging other countries to convey messages to Iran against escalating tensions in the Middle East, while Secretary of State Blinken engages in diplomatic efforts to calm the situation.

• North Korea has criticized Germany's entry into the U.S.-led United Nations Command monitoring force on the Korean peninsula, claiming it is part of a U.S. attempt to create an "Asian version of NATO" and will increase regional tensions.

Military & Defense

• 7 people were injured, including 5 US service members, in a rocket attack on Iraq's Ain al-Asad air base, with 2 evacuated for further medical care.

• Russia claims Ukrainian forces launched an attack into the southern Kursk region, with the Russian military responding and the regional governor describing the situation as "controllable" despite reports of casualties and damage.

• Venezuela's Defense Minister Vladimir Padrino reaffirmed the military's loyalty to President Nicolas Maduro amid ongoing disputes over the recent presidential election results, which the opposition claims were fraudulent.

Cybersecurity

• The Senate Intelligence Committee has proposed a bill that would elevate ransomware to the level of terrorism, allowing for increased intelligence gathering and sanctions against ransomware groups and their state sponsors, though experts debate its potential effectiveness.

• A cyberattack targeted the Grand Palais, a Paris Olympic venue and cultural site, but officials denied initial reports of ransomware, stating that no data extraction was detected and the incident did not affect Olympic information systems.

• China's proposed cyber ID system, aimed at protecting personal information and fighting fraud, faces criticism from netizens who fear it may increase government surveillance and control over online activities.

Counterintelligence & Espionage

• Shujun Wang, a Chinese American scholar who portrayed himself as a pro-democracy activist, was convicted in New York of gathering information on Chinese dissidents in the United States and providing it to the Chinese government.

• Chinese businesses seeking to expand in the U.S. face increasing scrutiny and resistance due to national security concerns and intensifying US-China rivalry, as exemplified by the controversy surrounding Gotion High-Tech's planned battery factory in Michigan.

Transnational Organized Crime

• Costa Rican authorities, in coordination with U.S. and Panamanian officials, arrested 21 suspects linked to an international human trafficking network that charged migrants $14K each to travel from Ecuador to the United States.

• China has agreed to increase regulation and control over 3 chemicals used in illicit fentanyl production, a move the White House calls a valuable step forward in bilateral counter-narcotics cooperation.

• India has put its border forces on high alert following the collapse of Sheikh Hasina's government in Bangladesh, while confirming that the former prime minister has sought refuge in New Delhi.

SCIENCE & TECHNOLOGY

China has launched a Long March-6 rocket carrying a constellation of 18 satellites from the Taiyuan Satellite Launch Center.

This launch is part of China's ongoing efforts to assert its presence in space and expand its capabilities.

China's space program has made significant strides in recent years, including crewed missions, a space station, lunar exploration, and the development of the Beidou satellite navigation system as an alternative to GPS.

In other news…

Dawn Aerospace's rocket-powered aircraft, Mk-II Aurora, has achieved significant progress in its test flights, reaching Mach 0.92 and 50K feet altitude, as the company aims to develop a high-performance, reusable aircraft capable of reaching space while taking off from a runway.

Despite national security concerns, both former President Donald Trump and Vice President Kamala Harris are actively using TikTok in their 2024 presidential campaigns to reach young voters.

Perceptive Space, a Canadian startup emerging from stealth, aims to improve space weather predictions using ML and AI, providing more accurate and near-real-time forecasts for rocket launch providers, satellite operators, and aviation companies.

Nissan has developed a "cool paint" for cars that can significantly reduce interior temperatures, though its thickness currently poses challenges for commercialization.

Elon Musk's X has filed an antitrust lawsuit against the Global Alliance for Responsible Media and several major advertisers, claiming they conspired to boycott the platform and withhold billions in advertising revenue following Musk's takeover in 2022.

Despite a recent antitrust ruling against Google's search engine dominance, both Google and Apple have the resources and motivation to fight a prolonged legal battle to protect their lucrative arrangement, where Google pays Apple billions annually to remain the default search engine on iPhones.

Waymo is expanding its robotaxi service areas in San Francisco and Los Angeles, adding 10 and 16 square miles respectively, as part of its efforts to scale commercial operations and reach profitability.

DEALS & FUNDING

Lucid Motors has secured an additional $1.5 billion in funding from Saudi Arabia's sovereign wealth fund, despite CEO Peter Rawlinson's previous concerns about over-reliance on Saudi investment.

The funding comes as Lucid reported a $643M loss in Q2 2024.

Lucid plans to use the new capital to support the launch of its first electric SUV, Gravity, and to address ongoing financial challenges as it attempts to establish itself in the competitive EV market.

In other news…

Thrive Capital, led by Josh Kushner, has raised $5B for its largest-ever pair of venture-capital funds, reflecting optimism in AI investments.

German defense company Rheinmetall is acquiring a majority stake in South African engineering firm Resonant Holdings to expand its ammunition production capabilities, responding to increased global demand for ammunition and production facilities amid NATO members' efforts to rebuild depleted stocks.

Riverlane, a UK-based quantum computing startup specializing in error correction technology, has raised $75M in Series C funding to further develop its Deltaflow product, which aims to significantly improve the performance of quantum computers by correcting billions of errors per second.

H3X, a startup developing compact and efficient electric motors, has secured $20M in funding to scale up its technology for aerospace and marine applications, with plans to develop megawatt-scale motors that could revolutionize hybrid electric aircraft and shipping.

North Korea is expanding and modernizing its defense industry, mirroring South Korea's success in arms exports, by leveraging its partnership with Russia to gain access to advanced technologies and potential new markets for its weapons.