Our daily lap of the world

🇺🇳 The 79th UN General Assembly kicks off today in NYC amid rising global tensions. The annual event will feature speeches from 130+ world leaders and other high-level diplomats, with topics of discussion expected to mostly center around the ongoing wars in Ukraine, Sudan, and the Middle East. The UN assembly comes as Israel and Hezbollah continue to exchange airstrikes, with Lebanese health officials reporting at least 492 deaths and 1,645 injuries yesterday (Lebanon’s highest daily death toll since 1990). It also occurs as the US is weighing whether to allow Ukraine to strike military targets within Russia using US-supplied weapons, with Russia warning such a move would effectively mean war against NATO.

🇦🇺 Australia’s two biggest supermarket chains are being sued over fake discounts. Australia's consumer watchdog is accusing Coles and Woolworths of temporarily raising prices ahead of a planned “sale,” then lowering them back to the original cost – or in many instances, even higher. The lawsuit follows an investigation that found the grocery chains misled customers about 240+ “discounted” products apiece over a period of 15-20 months.

🇦🇪 Chip-making giants TSMC and Samsung are reportedly considering huge new factories in the UAE. According to a new Wall Street Journal report, senior leaders at both companies have recently visited the UAE to discuss separate plans for constructing major new chip-making operations in the country worth a combined $100+ billion. The WSJ also noted the discussions are still in the early phases, and may not pan out.