Good morning. It's Wednesday, May 7, and we're covering escalating tensions between two nuclear rivals, the selection process for the next pope, and much more. First time reading? Join over 4 million intellectually curious readers. Sign up here.
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Indian forces reportedly fired missiles across the border into Pakistan and the Pakistani-administered territory of Kashmir early Wednesday morning local time, killing at least eight people. Pakistan vowed to retaliate.
The attack marks a rise in tensions between the nuclear-armed neighbors, who have a longstanding dispute over the mountainous region of Kashmir. India and Pakistan have fought three wars over Kashmir since the two nations were divided from former British India in 1947.
India said it struck nine sites in Punjab and Kashmir, targeting infrastructure used by militants linked to last month's deadly attack in the resort town of Pahalgam (part of Indian-administered Kashmir) that killed 26 people. Pakistan reported civilian casualties in at least five locations. India has accused Pakistan of supporting separatist violence, while Pakistan denied association with the incident.
Since the Pahalgam attack, the two sides have scaled back diplomatic ties, closed airspace to each other, and exchanged fire across the Line of Control, raising fears of broader conflict.
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Conclave Begins at the Vatican
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The process to determine the successor to Pope Francis gets underway today, as Catholic Church leaders gather in the Sistine Chapel to begin the secretive and centuries-old tradition known as a conclave.
Ballots will be cast by a group of cardinals, the second-highest rank in the church hierarchy (see 101). While there are 252 cardinals, only those under 80 years old are eligible to vote, with a two-thirds majority required for a candidate to be selected.
Observers say the election will be a referendum on whether to continue the reforms set in motion by Pope Francis—regarded as a relatively liberal church leader—or return to more conservative roots. Of the 133 voting cardinals, 108 were appointed by Pope Francis during his tenure. While no clear frontrunner has emerged, some top candidates include Cardinals Pietro Parolin (Italy) and Luis Antonio Tagle (Philippines).
Voting continues until a successor is chosen, with white smoke from the chapel's chimney indicating a decision has been made. Read about some of the myths and scandals surrounding conclaves here.
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New US Travel Requirement
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Starting today, most travelers flying domestically within the US must present a federally compliant driver's license or identification card—known as a REAL ID and marked by a star in the upper right corner—to airport security or to access other federal facilities.
Travelers without a REAL ID-compliant license or identification will still be allowed to board domestic flights, but should expect extra screening, according to Homeland Security Secretary Kristi Noem. Currently, 81% of US travelers have REAL ID-compliant identification.
Congress enacted the REAL ID program in 2005 in response to the 9/11 Commission’s recommendations that the federal government set standards for issuing state identification documents like driver’s licenses. Its goal is to enhance the security and reliability of state-issued identification, making it harder to forge and requiring states to verify applicants’ information more thoroughly.
The program, originally set to launch in 2008, faced repeated delays due to states' concerns over implementation costs and privacy, limited federal funding, technical challenges, and disruptions caused by the COVID-19 pandemic.
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In partnership with RAD Intel
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Sports, Entertainment, & Culture
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> California Gov. Gavin Newsom (D) proposes $7.5B federal tax incentive for the film industry in response to President Donald Trump's announcement of possible tariffs on foreign-made films (More)
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> Kentucky Derby winner Sovereignty will skip the Preakness Stakes (May 17) but will run at the Belmont Stakes (June 7), the third leg of horse racing's Triple Crown (More)
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> Inter Milan tops FC Barcelona to advance to UEFA Champions League final, will face off against the winner of Arsenal and Paris Saint-Germain in the other semifinal matchup (More)
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> Engineers develop electronic "Band-Aid" capable of delivering drugs directly to internal organs; battery-free device may provide a platform for advanced health monitoring and therapies (More)
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> Brain study reveals humans process faces from other races differently than their own, with less detail and differentiation; results confirm phenomenon known as the "other race effect" (More)
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> Researchers demonstrate quantum communication network over a distance of 11 miles using single photons and conventional fiber optics, marking a step forward in realizing "unbreakable" quantum encryption (More)
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> US stock markets close lower (S&P 500 -0.8%, Dow -1.0%, Nasdaq -0.9%) as investors resume caution over global trade and await conclusion of the Federal Reserve's two-day policy meeting today (More) | This Thursday's 1440 Business & Finance newsletter unpacks annuities; join here for free (More)
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> DoorDash to buy UK rival Deliveroo for $3.9B and US hospitality tech company SevenRooms for $1.2B; DoorDash is America's largest food delivery service ahead of Uber Eats (More) | Uber to buy 85% stake in Turkish food delivery platform Trendyol GO for $700M (More)
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> EV-maker Rivian posts better-than-expected Q1 results, but slashes deliveries forecast for 2025 amid tariffs (More) | AMD tops earnings estimates, but says revenue will take $1.5B hit from US chip restrictions to China (More)
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In partnership with Fisher Investments
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Market movement can feel unsettling—but volatility is normal and can hold hidden potential. Investors with $1 million or more, don’t miss our "Stock Market Outlook" for fact-based insights on where we believe stocks are heading this year—and what it could mean for your portfolio.
From better-than-expected global growth to a potentially positive US inaugural year, learn why we remain bullish on stocks. Let our guide be your go-to resource to help position your portfolio for growth.
Get your free guide today.
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> Germany’s parliament elects conservative leader Friedrich Merz in second round of voting; Merz becomes first chancellor in Germany’s postwar history to have lost a first-round ballot (More) | Canadian Prime Minister Mark Carney meets with President Donald Trump, rejects suggestion of US acquisition of Canada (More)
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> Supreme Court allows Trump administration to proceed with ban on transgender people serving in the military while litigation continues (More) | The order impacts at least 4,240 service members, roughly 0.2% of the military (More)
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> President Donald Trump says the US will stop bombing Houthi rebels in Yemen after Oman confirms a ceasefire was reached with the militant group (More) | Israel says its airstrikes disabled Yemen's main airport in Sanaa following Houthi rebel attack on Tel Aviv's main airport (More)
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In partnership with RAD Intel
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They’re Behind the Ads You Actually Like
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