10.17.2023

Israel-Hamas Conflict Fallout

At least 199 people are being held hostage by Hamas, the Israeli military said yesterday, an increase from previous estimates of the number of people Hamas captured and brought back to the Gaza Strip after a surprise attack more than a week ago. Observers say the group may seek the release of Palestinian prisoners in exchange for the release of hostages. See latest updates on the conflict here.

Israel also began evacuating 28 communities within 1.2 miles of its northern border shared with Lebanon, where its military has exchanged fire with Iran-backed Hezbollah; the group claims it destroyed surveillance cameras on Israeli army posts along the Lebanon border. Israeli Prime Minister Benjamin Netanyahu warned Iran and Hezbollah to stay out of its conflict with Hamas. (Hezbollah and Israel went to war in 2006.)

As of this writing, the death toll in Gaza has risen to more than 2,800, with at least 10,500 people injured. The death toll in Israel stands near 1,400 (most of which occurred during Hamas' initial attack), with at least 3,900 people injured. At least 22 hostages have died as a result of airstrikes, Hamas has claimed.

Separately, US officials opened a federal hate crimes investigation into a 71-year-old landlord accused of fatally stabbing a 6-year-old Palestinian-American boy outside of Chicago. The attack was reportedly motivated by the Israel-Hamas conflict. 

US President Joe Biden is expected to visit Israel tomorrow in a show of support, following US Secretary Antony Blinken's second trip to Israel yesterday since the conflict began. 

Rite Aid Files for Bankruptcy

US pharmacy chain Rite Aid has filed for Chapter 11 bankruptcy, announcing plans to close numerous stores as it deals with mounting debt and multiple opioid-related lawsuits. Rite Aid aims to continue operations while restructuring debts.

The Philadelphia-based company, established in 1962, operates over 2,000 stores across 17 states. The company has allegedly secured $3.45B in financing from lenders to maintain store operations; however, the restructuring plan will involve closing multiple underperforming stores. The number and locations of store closures have not been disclosed. Rite Aid will also sell part of its business, including its prescription benefit manager Elixir Solutions to MedImpact. The company has appointed a new CEO, Jeff Stein, founder of financial advisory firm Stein Advisors, to lead the restructuring efforts.

Rite Aid also plans to use the bankruptcy proceedings to resolve legal disputes related to allegations it knowingly filled unlawful opioid prescriptions, including a federal lawsuit filed in March. The company has reached several settlements already, including up to $30M with the state of West Virginia.

Squash, Flag Football Olympic Debut

Olympic officials approved five additional sports to compete at the 2028 Los Angeles Games at its annual session yesterday. The 33-sport program will now feature cricket, lacrosse, baseball and softball, as well as the Olympic debuts of squash and flag football. 

Squash is played in over 150 countries and is inexpensive to field; its inaugural inclusion gives Egypt—which dominates the sport—a window to add to its eight all-time Olympic gold medals. The NFL, the world's most lucrative sports league,

campaigned for flag football's first-ever showing to increase American football's popularity worldwide. Lacrosse, the oldest sport in North America, last played in the Olympics in 1908, and cricket's 1.4 billion fans will see the sport at the Games for the first time since 1900. Baseball and softball participated in 2020 but aren't included in Paris 2024. 

Relatedly, the International Olympic Committee will keep boxing on the program in 2028 after it withdrew recognition of the International Boxing Association for compliance issues in June, a rare move.

Science & Technology

Business & Markets

Politics & World Affairs

In-Depth

> The End of China's Economic Boom

Insider | Linette Lopez. A look at how China has shifted its priorities from economic growth toward national security and advanced technology, and the effect it may have on American-based businesses. (Read)

> 'AI Obama'

NY Times | Stuart A. Thompson, Sapna Maheshwari. How AI-generated video and audio content on TikTok uses sophisticated new AI audio tools that can clone real voices, and TikTok’s efforts to red flag such videos for spreading misinformation. (Read)

Why space is so dark even though it's filled with stars.

Visualizing the 2023 Canadian wildfire season. (w/video)

Miniature "Star Wars" X-Wing Fighter model sells for record $3.1M. 

See spectacular shots of fog rolling over landscapes.

The best (and worst) cities for singles.

Netflix to open immersive "Netflix Houses" by 2025. 

... and Tesla is selling limited edition beer.

You can now enroll in TSA PreCheck at Staples.

Clickbait: When you get a $1.4M speeding ticket—well, kind of. 

Historybook: Actress Rita Hayworth born (1918); Mae Jemison, first Black woman in space, born (1956); Eminem born (1972); Mother Teresa wins Nobel Peace Prize (1979); Earthquake near San Francisco kills 63 (1989).