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Good afternoon. Here's what you should know today, June 25: | |
- Wagner's mutiny in Russia could invite future challenges
- Pandemic effects and government aid are blunting the impact of higher interest rates, for now
- Ozempic-like weight-loss drugs could come in a pill
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 | | Photo Illustration: Madeline Marshall | | |
1. Wagner's aborted mutiny leaves no winners in Russia. | |
| After Saturday's bout of violence between Moscow's troops and the Wagner paramilitary group, one widely shared conclusion in Russia was that none of the key players in the power struggle has been strengthened by the ordeal. Wagner chief Yevgeny Prigozhin has accepted exile in Belarus as part of a truce, while the Putin regime has sustained lasting damage to its authority and could be vulnerable to further challenges. | |
| How Has the Wagner Rebellion Hurt Putin's Regime? (Read) Find the latest updates on our live coverage (Read) | |
2. What will Ukraine do next? | |
| Ukraine stands to gain from the instability in Russia and the deepening divisions among its military forces. The head of Ukraine's National Security and Defense Council said it had expected the long-simmering dispute between Wagner chief Yevgeny Prigozhin and the Russian military establishment to turn violent eventually. A question for its commanders now is how to capitalize on the dissent and disorder in the most effective way possible. | |
| Where Is Yevgeny Prigozhin? (Read) | |
3. Why economies haven't slowed more since central banks hit the brakes. | |
| Despite higher interest rates, economic growth has remained strong across affluent countries. The factors behind this include the unusual nature of the pandemic-induced recession; government spending that has bolstered growth; and how long it takes for high rates to ripple through and cool growth and inflation. The Bank for International Settlements warned today that reducing inflation to many central banks' 2% target could be harder than expected. | |
| Junk-Rated Companies Accept Tougher Terms to Borrow (Read) | |
4. Pill versions of Ozempic-like drugs are coming. | |
| Many people dislike injections, prompting the makers of drugs such as weight-loss medicine Ozempic to explore formulations that could be swallowed. The chemistry isn't simple. But if researchers can pull it off, the tablets could appeal to the sizable number of people who fear needles, while also costing hundreds of dollars less than their injected cousins. | |
| Will Ozempic Change 'Body Positivity' for Good? (Read) | |
5. Guatemala and Greece await election results. | |
| As Guatemalans go to the polls today, the most popular presidential candidates are those pledging to imitate the anti-crime crackdown taking place in neighboring El Salvador. That policy has drawn criticism from observers who say it has led to arbitrary arrests and forced disappearances, but it resonates with Guatemalans concerned about a rising murder rate. In Greece, meanwhile, the conservative prime minister is expected to win comfortably, allowing him to continue a program of economic overhauls. | |
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| The WSJ's Evan Gershkovich is being wrongfully detained in Russia after he was arrested while on a reporting trip and accused of espionage—a charge the Journal and the U.S. government vehemently deny. Follow the latest coverage, sign up for an email alert, and learn how you can use social media to support Evan. | |
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