Border crossing surge - Rupert Murdoch steps down - Poland stops arming Ukraine

Source: Customs and Border Protection

1. Summary
   Nearly 6,000 migrants have crossed from Mexico into the US in the last two days in the Texas town of Eagle Pass, which has a population of 28,000. US authorities temporarily closed a bridge and international railway in the area to respond to the influx. The surge comes after a decline in border crossings that followed new asylum restrictions in May.
   
   Some analysts said the administration's plan to pair increased legal pathways with expedited deportations worked for a while, but the caps on legal admissions were quickly reached. Meanwhile, the Department of Homeland Security is granting Temporary Protected Status to about 472,000 undocumented Venezuelans who entered the country by July 31.
   
   The temporary status, which allows migrants to obtain work permits and be protected from deportation, had already been granted to 242,700 Venezuelan migrants. The move had long been sought by New York City's mayor to alleviate the city's limited shelter space. Some argue the TPS expansion will incentivize more illegal crossings.

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Source: Bloomberg

1. Summary
   On Wednesday Polish Prime Minister Mateusz Morawiecki said his country would no longer transfer weapons to Ukraine. Poland is one of Ukraine's staunchest supporters and a major military aid supplier, but relations have soured amid a dispute over Ukrainian grain, and Poland is weeks away from parliamentary elections that are expected to be close.
   
   With the war closing Black Sea shipping lanes, Ukraine is exporting grain through Europe. The EU in May limited grain imports in five countries because farmers were concerned by depreciating prices. The EU lifted the controls last Friday, but Poland, Hungary and Slovakia are maintaining the controls. Ukraine responded with a World Trade Organization complaint.
   
   Poland sent most of its available arms at the beginning of the war. There is no indication Poland will cease its role as a transit hub for other allies' Ukraine aid. Morawiecki said the transfers would stop "because we are now arming Poland with more modern weapons." Although many attribute the shift to the grain dispute, Poland is increasing military spending.

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Source: Bloomberg

1. Summary
   India's Parliament on Thursday passed legislation that will reserve for women one-third of seats in the lower house of Parliament, akin to the House of Representatives in the US. The quota will also apply to India's 28 state legislatures. The upper house of Parliament, whose members are chosen by state legislators, will not face the quota.
   
   The legislation needs approval from at least half of the state legislatures before it can become law. The measure is expected to succeed, as representatives from across the political spectrum, at both the national and regional level, supported the policy in both houses of Parliament.
   
   The policy would not take effect in the next elections. Some observers believe India will increase the number of available seats to soften the blow to male politicians. Research by the Inter-Parliamentary Union found that of the 20 countries that had some form of gender quota in 2017, women won over 30% of the legislative seats, compared to 15% in 16 countries without quotas. In a few countries, quotas failed to make a significant difference.

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Source: Associated Press

1. Summary
   Rupert Murdoch is stepping down as the chairman of Fox Corp and News Corp, according to a Thursday statement by the companies. Murdoch, who has near-controlling stakes in both companies, has said that he still plans to be "involved every day" with the companies. Though the 92-year-old Murdoch has been dogged by health concerns, he said Thursday, "Our companies are in robust health, as am I."
   
   Murdoch's son, Lachlan, will take his place. Lachlan is considered more conservative than his father, though he was reportedly involved in the firing of Tucker Carlson. He is currently the executive chair and CEO of Fox and is now the sole chair of News Corp.
   
   Lachlan, as well as Murdoch's three other adult children, has a stake in the trust that Murdoch uses to hold his shares of his two companies. Murdoch's two youngest children have stakes in the trust but not voting rights. When Murdoch's voting shares transfer to his children, is possible three older children could ally to out-vote the fourth.

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Source: USA Today via Yahoo! News

1. Summary
   On Wednesday the Physicians Committee for Responsible Medicine (PCRM) urged the SEC to investigate potential securities fraud by Neuralink owner Elon Musk, over statements he made about the company's experimental brain implants. The request was filed one day after Neuralink announced it was recruiting human volunteers to test the implants.
   
   Responding to concern about safety and animal testing, Elon Musk recently claimed "no monkey has died as a result of a Neuralink implant" and that the animals that died were terminally ill. Records obtained by PCRM and Wired, however, indicate that at least 12 previously healthy and young Rhesus macaques were euthanized because of implant complications.
   
   The FDA approved Neuralink's request to conduct human trials in May. The FDA reportedly raised safety concerns when Neuralink sought approval to recruit 10 people, leading the company to negotiate a lower number. It remains unclear how many people will be recruited for the trial, which is set to last six years and is targeted towards patients with paralysis.

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