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10.11.2021

ISIS-K Attack, Austria, and America's Best Fall Festivals Everything you need to know for today in five minutes.

Good morning. It's Monday, Oct. 11, and we're covering an attack in Afghanistan, a resignation in Austria, and much more. Have feedback? Let us know at hello@join1440.com.

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NEED TO KNOW

 

Bombing in Afghanistan

At least 46 people were killed and dozens of others injured after a suicide bomber attacked a mosque in the northern Afghanistan city of Kunduz Friday. ISIS-K, short for ISIS-Khorasan Province, claimed responsibility for the bombing. 

 

The deadliest attack since the US withdrew troops in late August, the bloodshed highlights a rift between competing extremist groups in the country. ISIS-K is an offshoot of the broader ISIS jihadi organization (see overview). While the Taliban and fellow extremist group al-Qaeda have close ties, ISIS-K and the Taliban have clashed over which group is the preeminent Islamist authority in the region. 

 

The attack comes as Taliban officials struggle to govern the country after two decades of guerilla warfare. The regime has reportedly stopped paying neighboring nations for electricity imports, which constitute more than 75% of the country's power supply.

 

Separately, one of the top US commanders during the Iraq War, 67-year-old Gen. Raymond Odierno, died of cancer over the weekend.

Austrian Chancellor Resigns

Austrian Chancellor Sebastian Kurz stepped down over the weekend, following allegations of corruption and bribery. Kurz had led the country's center-right People's Party, and was previously the youngest head of government in the world, elevated to the office at age 31 in 2017.

 

He had battled allegations he used public funds to pay pollsters and journalists for positive coverage. Kurz denied those accusations; he reportedly stepped down after coalition partners in his governing bloc said they would no longer support him. Kurz, who remains in parliament despite leaving office, signaled he planned to be a key opposition voice. 

 

The resignation comes roughly a year after a scandal in which party officials were caught on tape offering to trade government support for favorable press treatment. 

Global Minimum Tax

Ireland announced over the weekend it would join a global agreement to implement a minimum corporate tax of at least 15%, raising the number of countries in the pact to 136. The country, which has long been viewed as a favorable nation to move corporate headquarters due to its lower tax rate of 12.5%, was one of the final holdouts to the multiparty deal. Each individual country must pass legislation to make the change official.

 

US corporations are currently taxed at 21%, plus state-levied taxes that result in a top average rate of almost 26%. A number of large companies have adopted a strategy known as a tax inversion—a legal maneuver that effectively moves their headquarters overseas, while keeping domestic operations as a subsidiary of a new foreign-based company. Analysts say leveling a global minimum corporate tax would reduce this effect.

 

For context, corporate tax revenue will account for about 7% of the US government's federal tax receipts this year.

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IN THE KNOW

 

Sports, Entertainment, & Culture

> Tyson Fury knocks out Deontay Wilder in 11th round to retain WBC heavyweight title and win second fight in matchup trilogy (More)

 

> Performer killed in accident onstage at historic Bolshoi Theater in Russia (More) | James Bond film "No Time to Die" hauls in lower-than-expected $56M at domestic box office while still bringing in $300M+ globally (More)

 

> Chicago Sky tops Phoenix Mercury 91-77 to win game one of WNBA finals (More) | Two parents convicted in first "Varsity Blues" college admissions scandal trial (More)

Science & Technology

> Facebook, Instagram go offline for roughly two hours, days after a major service outage; company says problems weren't malicious, blames change to its server configurations (More)

 

> Engineers develop composite fabric capable of neutralizing biological threat, including COVID-19 (More)

 

> Scientists demonstrate that extreme environment bacteria can consume a discarded nail in 72 hours; organism may have applications in recycling applications (More)

Business & Markets

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> US economy adds 194,000 jobs in September, beneath expectations of 500,000 and last month’s growth of 366,000 jobs; unemployment rate falls to 4.8% (More)

 

> US oil futures benchmark trades over $80 Friday for the first time since 2014; prices are up over 60% this year (More)

 

> Elon Musk’s SpaceX was valued at $100B in a private share sale; company is now the second most valuable global private company after China’s ByteDance (TikTok owner) (More)

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Politics & World Affairs

> Texas' fetal heartbeat law reinstated after a federal appeals court freezes a lower court's ruling suspending the regulations; new law bans abortions after a fetal heartbeat is detected, typically around six weeks into pregnancy (More)

 

> US Navy engineer and wife charged with trying to pass designs of American nuclear subs to foreign adversaries (More)

 

> One person killed, at least 14 injured in Minnesota bar shooting; police still investigating motive (More)

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ETCETERA

 

AI-generated version of Beethoven's tenth symphony performed. (Listen here)

 

The best fall festivals around the country.

 

Who Americans trust.

 

Signed "Shoeless" Joe Jackson photo sells for almost $1.5M.

 

The Titanic is Lego's most complicated set ever.

 

"Squid Game" fashion.

 

Two men shrug shoulders after being lost at sea.

 

One school, nine sets of twins.

 

Clickbait: Is this your cannabis?

 

Historybook: Earthquake in Aleppo, Syria, kills 230,000 people (1138); Eleanor Roosevelt born (1884); "Saturday Night Live" premieres (1975); Kathryn D. Sullivan becomes first American woman to perform spacewalk (1984); ... and RIP Alexei Leonov, first person to ever perform spacewalk (2019).

 

"You gain strength, courage and confidence by every experience in which you really stop to look fear in the face."

- Eleanor Roosevelt

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