ICC Wants Netanyahu Arrest Warrant

Good morning and happy Tuesday. We recently wrote about the auto theft epidemic that has hit Canada. Here is an extraordinary anecdote: A Toronto man's car was stolen from his driveway. A year later, a reporter called him after finding it over 5K miles away in Ghana. Have a great day.

In Today’s Brief

• EPA: Water utilities warning

• Milei: Comment causes firestorm

• Trump trial: Prosecution rests

• Target: Walmart rivalry moves

• HBO: Steve Carell comedy

... and more

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Top Tips

1) International furor

A war crimes prosecutor is seeking the arrest of Israeli Prime Minister Benjamin Netanyahu and others.

• What happened: The International Criminal Court wants arrest warrants for Netanyahu, Israeli Defense Minister Yoav Gallant and three Hamas officials, including top leader Yahya Sinwar. ICC Chief Prosecutor Karim Khan claims the man committed war crimes and crimes against humanity in Gaza and Israel during the war. The warrants have not been issued; a three-judge panel must approve the request in a process that could take months. 

• The response: President Joe Biden and Israel blasted the accusations; Biden called them outrageous and said there is no equivalence between Israel and Hamas, which also criticized the ICC. Reactions in Europe were more mixed, with some countries showing deference to the ICC while others denounced the move. Human Rights Watch supported the ICC. All European Union countries are members of the ICC, while the U.S. is a partial member.

• Big picture: Even if the warrants are eventually issued, the impact on Netanyahu and Gallant (and the Hamas leaders) will likely be minimal, although they could complicate their foreign travelr blow to the perception of Israel's actions in Gaza. That said, there is also a school of thought the ICC's move could help that rally domestic support around Netanyahu.

2) ‘A day of shame’

The failures of Great Britain's National Health Service in its blood scandal have been laid bare.

• What happened: A report published Monday found the NHS knowingly used blood tainted with hepatitis and HIV without patient knowledge from 1970 to 1991. Health officials lied about risks, patients were given the blood for research purposes and donor screening protocols were ignored. Over 30K infections and 3K deaths occurred.

• Cover up? The report concluded there was no conspiracy to mislead, but a "chilling" effort to hide the truth to "save face and save expense." The report found many officials ignored recommendations and warnings. Government officials also dragged their feet on inquiries despite evident concerns. The report said the situation "largely, though not entirely, (could) have been avoided."

• The reaction: Prime Minister Rishi Sunak apologized, calling it "a day of shame" for the British state. He vowed the government will pay whatever it costs to deliver fair compensation to victims, as the apology must come with action. Labour Party leader Keir Starner, the likely next PM, also apologized.

3) Ivan Boesky: 1937-2024

One of the men who inspired the Gordon Gekko character has passed away.

• The news: Ivan Boesky, who amassed a fortune as a stock trader before getting wrapped up in a historic insider trading scandal, died yesterday at 87. The Wall Street titan was worth $1B in today's figures at the height of his power; he spent the last 30-plus years out of the public eye living in California.

• The crime: Boesky was a prolific arbitrageur, specializing corporate mergers and takeovers. But his stock picks were made after delivering payoffs for insider tips. Then-U.S. Attorney Rudy Giuliani ensnared Boesky and gave him a plea deal to inform on other Wall Street titans. Boesky ended up paying a historic $100M fine, served three years in prison and received a lifetime ban from the securities industry.

• The impact: Boesky denied it, but contemporary reports of his 1986 commencement address at Cal-Berkeley said he told graduates that "greed is healthy." Those supposed comments were made famous in the film Wall Street, with Michael Douglas winning an Academy Award as Gekko. Boesky also became a symbol of 1980s excess.

Quick Tips

U.S. News

• Cyberattacks on water utilities are becoming more frequent and severe, according to the Environmental Protection Agency. About 70% of utilities violated cyber safety protocols last year when inspected, according to the agency (More)

• FDIC Chairman Martin Gruenberg will resign. A recent probe found the government agency had a toxic workplace culture rife with sexual discrimination and harassment (More)

• Taxpayers in Maricopa County, Arizona, are projected to pay over $300M by next year to settle a racial profiling lawsuit against former county sheriff Joe Arpaio. The sheriff's office must be compliant with court-ordered changes for three years (More)

World News

• Argentine President Javier Milei is under fire after calling Spain's prime minister's wife "corrupt" at a right-wing political convention. Spanish Foreign Minister Jose Manuel Albares has recalled the Spanish ambassador from Buenos Aires and demanded an apology (More)

• Former South African President Jacob Zuma is barred from running for re-election. The nation's top court ruled he is disqualified due to a 2021 contempt conviction; Zuma was president from 2009-18 (More)

• A draft U.S. House bill will aim to incentivize Georgia's government to abandon its recent democratic backslide, including a controversial foreign agent bill similar to Russia's. The legislation would start trade talks and liberalize visa rules for Georgian citizens if certain criteria is met (More)

Campaign News

• The prosecution rested yesterday in former President Donald Trump's criminal hush money trial. The defense is now making its presentation; Judge Juan Merchan said he expects closing arguments will begin a week from today (More)

• Controversial former NBA player Royce Young will be the Republican candidate for Senate in Minnesota. He previously ran against Rep. Ilhan Omar and has a history of inflammatory statements (More)

• Former Vermont Gov. Howard Dean will not run for the office again. The former presidential candidate said he believes he can beat popular incumbent GOP Gov. Phil Scott, but a bruising race would be damaging to the state (More)

Business & Markets

• Major indexes closed mixed yesterday. The Nasdaq closed at a new all-time high after also hitting an intraday record (Dow -0.49%, Nasdaq +0.65%, S&P 500 +0.09%)

• Target will reduce prices on at least 5K frequently purchased products. The retail chain is making the cuts to attract more budget-conscious shoppers; the moves will position it to better compete with rival Walmart (More)

• Red Lobster has filed for Chapter 11 bankruptcy. The seafood restaurant chain closed close to 100 locations last week; it plans to sell a substantial amount of assets in its reorganization (More)

Entertainment & Sports

• Steve Carell will star in a new HBO comedy series set on a college campus. Ted Lasso co-creator Bill Lawrence is involved in the untitled project (More) 

• Scottie Scheffler's arraignment for his arrest at the PGA Championship was delayed until June 3. The world's top professional golfer does not need to attend and will plead not guilty; reports indicate all charges are likely to eventually be dropped (More)

• Neil Young will release a new archival album next month. Early Daze will mostly feature unreleased recordings made by Crazy Horse when it had just started as a band (More)

Quick Hitters

• Cute Stuff: A mother of quadruplets posted this adorable video of all four entertaining each other. One baby appears to be the ringleader -- maybe the oldest by a few seconds? -- but all four are having a blast.

• Go Deep: If you have ever felt your smartphone has too many capabilities and functions, you are not alone. There is a growing movement of people who want phones with fewer features, but manufacturers are not racing to produce so-called "dumbphones."

• Chow Down: Even people who don't like salads will likely find something they want to try on this wide-ranging list of nearly 100 salad recipes.

• Be Safe: Honda has recalled over 187K Ridgeline trucks made in 2020-24. The car's rearview tailgate camera may be defective.

• Life Hack: There are also threats outside of the water at the beach. Take in these tips to make sure you are protecting yourself against infections caused by the sand and surf.

• OPTIMIZE ME: Researchers “found convincing evidence that higher intake of ultra-processed foods was associated with 50% increased risk of cardiovascular disease-related death, a 48% to 53% higher risk of anxiety and common mental disorders, and a 12% greater risk of type 2 diabetes”

Want more health and wellness news? Subscribe to our brand new newsletter, Optimize Me, and start living a healthier life through diet, exercise, sleep, and mindfulness:

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Links

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Looking Ahead …

The Julian Assange saga will continue. A British court ruled that the Wikileaks founder is permitted to appeal his U.S. extradition order on espionage charges. Assange is currently being held in a UK prison and will stay there as a process that started over a decade ago continues.

Question of the Day

Yesterday’s results:

Do you deal with regular pain in your everyday life?

• Yes (64%)

• No (36%)