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Myanmar detained a former British ambassador. Vicky Bowman and her husband allegedly violated their visas by residing at an unlisted address. The UK slapped new sanctions on the country’s businesses in an effort to hinder the military government.
China is investing an additional 1 trillion yuan in stimulus. The policy proposal would inject the equivalent of $146 billion into infrastructure as China’s economy continues to struggle.
Ukraine’s largest nuclear plant was taken off the grid. The failure at Zaporizhzhia has led to massive power outages; Ukraine and Russia’s governments have blamed each other for firing at the plant. Meanwhile, Russian president Vladimir Putin has ordered 137,000 new Russian troops to Ukraine.
Japan’s national police chief resigned. Itaru Nakamura has been blamed for failing to adequately protect Shinzo Abe from assassination.
Crypto is struggling to recruit new users. A new Pew survey found that 16% of Americans have ever invested in crypto, showing no growth since the last survey of its kind almost one year ago.
Novak Djokavic will skip the US Open. The tennis legend has refused to get vaccinated against covid.
What to watch for
Japanese and African leaders will gather in Tunisia this weekend at the Tokyo International Conference on African Development (TICAD). The event, now in its eighth iteration, is an opportunity for Japan to channel more foreign direct investment (FDI) into the continent.
Items on the agenda include helping Africa recover from the economic consequences of the covid pandemic, curbing food shortages caused by the war in Ukraine, and supporting the continent’s $100 billion infrastructure financing, which remains a tricky endeavor.
Japan invested $4.8 billion in Africa in 2020—a paltry sum compared to the billions invested by other countries such as the US, China, and European states. But as China decreased its financial commitments to Africa by a third between 2018 and 2021, Japan can pick up some of the slack.
Is MoviePass too late for a sequel?
“I walk up to the kiosk. And the person on my left pulls out a MoviePass card. The person on my right pulls out a MoviePass card. And they’re literally looking and smiling at each other. And you knew we were all part of something big. And I’d created that. I never forgot that feeling.” —Stacy Spikes to Time in April 2022
MoviePass is back—kinda, maybe. The movie ticket subscription service, which famously flamed out in 2019, is opening up a waitlist for a new version of the service.
Co-founder Stacy Spikes, who was ousted in 2018, is behind the reboot, but details of how it will work are still sketchy. The OG MoviePass charged a flat rate for a certain number of tickets per month but it was never able to work out bulk discounts with theaters. TL;DR—everyone wanted to use it, costs skyrocketed, and things fell apart.
While a shift to streaming is making theater operators sweat, chains without their own subscription models may be scared off by relatively fresh memories of MoviePass’s spectacularly bad final act. But as Time found, some of them are willing to try whatever it takes to get moviegoers back into seats.
Seen Lizzo’s latest Instacart yet?
In other attempted industry disruption news, Instacart is betting it can replicate the experience of scrolling on Instagram to discover the latest clothing trends, but for online grocery shopping. It would be a big win to move product discovery from social media like Instagram or TikTok to the places where consumers actually buy the things.
But will the promise of Lizzo’s vegan shopping list be enough to tempt users to spend their idle scrolling time flipping through the app they use to order their yogurt? Michelle Cheng takes a look.
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