*** Ross Rant ***
US-China trade war 2.0: Why this time is different
The US-China trade conflict just entered dangerous new territory, and the warning signs are flashing red across multiple fronts. If you've been treating tariff headlines as background noise, it's time to pay attention. The latest escalation carries implications that will reshape strategic planning for the next 18-24 months.
President Trump's announcement of 100% tariffs on Chinese goods, triggered by Beijing's restrictions on rare earth mineral exports, marks a qualitative shift in economic confrontation. China's commerce ministry responded with defiance, declaring it's "not afraid to fight." Markets reacted swiftly—the S&P 500 shed more than 2% as investors repriced risk. Meanwhile, diplomatic channels remain frozen, with Trump threatening to cancel his scheduled meeting with Xi Jinping.
Previous trade disputes centered on traditional manufactured goods and agricultural products. This conflict targets the circulatory system of modern manufacturing: rare earth elements essential for semiconductors, electric vehicles, defense systems, and consumer electronics.
China's dominance in rare earth processing—controlling roughly 70% of global supply—gives Beijing asymmetric leverage. This isn't just another round of tit-for-tat tariffs; it's economic coercion aimed at critical infrastructure.
The automotive sector illustrates the real-world impact. Detroit's Big Three are projecting $7 billion in combined tariff-related losses for 2025. One industry executive didn't mince words, calling the situation "existential." When established manufacturers with century-old business models use that language, it signals structural disruption, not cyclical turbulence.
Here's what should concern every CEO: Financial Times research warns of "cracks in the foundation" despite surface-level economic resilience. The US economy has appeared to weather previous tariff rounds, but economists gathering at the IMF and World Bank meetings are questioning whether we're "living on borrowed time." Strong consumer spending and employment figures can mask deteriorating business investment and supply chain degradation—problems that compound quietly before manifesting suddenly.
China's economy presents its own vulnerabilities. Growth was already decelerating before this latest escalation, creating a scenario where neither superpower has much cushion for miscalculation. Think of two boxers, both already fatigued, deciding to escalate rather than clinch. The risk of systemic damage increases exponentially.
Bloomberg reports that Trump and Vice President Vance have "opened the door" to potential deals with China. But optimism should be tempered. The fundamental contradiction—deep economic interdependence paired with strategic competition—remains unresolved. As a Washington Post editorial aptly noted, this resembles "a couple headed for divorce but still cohabitating."
First, scenario planning must now include sustained trade conflict through 2026. The days of assuming diplomatic breakthroughs are over. Second, supply chain resilience is no longer a cost center—it's a competitive advantage. Third, China exposure requires explicit board-level governance and regular stress testing. Fourth, capital allocation decisions should factor in heightened geopolitical risk premiums.
The cheap globalization era has ended.
The question facing leadership teams: Has your strategy evolved accordingly, or are you still operating with yesterday's assumptions in tomorrow's reality?
How is your organization navigating this new landscape?
Enjoy the ride + Plan accordingly.
-Marc
*** A11. ***
A coordinated squeeze forced Hamas to accept a deal it didn’t want: WSJ reports that under pressure from its overseas hosts and increasingly reviled at home, the militant group had little choice but to relent.
Hamas expected to release Israeli hostages: WSJ reports twenty living hostages in Gaza were set to be handed over to Israel early Monday, a first step in a peace deal that would force the US-designated terrorist group to disarm and give up power in Gaza.
Israel in hope as Gaza hostages are set for release under ceasefire: The Times reports Trump and Starmer fly to the Middle East for a peace summit that will not yet feature Hamas or Israel as PM announces £20m for Gaza.
Trump travels to Israel as country anxiously awaits hostage releases: FT reports Hamas is due to free Israeli captives in exchange for Palestinian prisoners by Monday.
Bloomberg: Trump travels to Middle East as hostages set to be released
Israelis prepare to celebrate freed hostages ahead of Trump visit: WP reports around 2,000 Palestinian prisoners and detainees are also expected to be released.
Israel declares victory as hostages expected home on Monday; Trump claims war is 'over': Le Monde reports Under the terms of a plan aimed at ending the war in Gaza, Hamas is to release by Monday noon the remaining 47 hostages (living and dead) who were abducted on October 7, 2023, and Israel will begin releasing around 2,000 detainees in exchange.
A test now for Israel: Can it repair its ties to Americans? WP reports Israel’s advocates fear that its conduct of the war has cost it the support of an entire generation of US voters.
Arab states expanded cooperation with Israeli military during Gaza war, files show: WP reports Israeli and Arab military officials have come together for meetings and trainings, facilitated by US Central Command, on regional threats, Iran, and underground tunnels.
Bloomberg: Starmer, Macron to attend Middle East peace summit in Egypt
Qatar facility at US Air Force base in Idaho sparks controversy: WSJ reports MAGA influencers criticized a training agreement announced by Defense Secretary Hegseth.
Trump may send Tomahawks to Ukraine: WSJ reports the president threatens to send the long-range missiles if the war doesn’t end soon.
Trump warns Russia he may send Ukraine long-range Tomahawks: Le Monde reports his comments came after US President Donald Trump spoke with Ukrainian President Volodymyr Zelensky.
US intel guided Ukraine’s strikes on Russian energy sites: FT reports Trump administration has supported Kyiv’s operations since summer in co-ordinated push to weaken Moscow.
Reuters: Kremlin warns the West over 'dramatic' escalation moment in Ukraine war
Nigel Farage to abandon Reform manifesto’s big plans for tax cuts: The Times reports the party leader will announce a focus on fiscal responsibility and cutting government spending, but critics question whether Reform’s plans are credible.
Margaret Thatcher is the mother of conservatism’s crisis Adrian Wooldridge
France appoints new government under PM Lecornu, but far-right and left-wing parties vow to bring it down: Le Monde reports Sébastien Lecornu's second cabinet in a week includes several members who served in previous governments. RN and LFI both say they will file a no-confidence motion in parliament.
French PM Sébastien Lecornu names cabinet as he seeks to finalise a budget: FT reports Roland Lescure retained as finance minister as the far right threatens a censure vote against the premier.
Dutch government takes control of Chinese-owned chipmaker Nexperia: FT reports the move by The Hague escalates frictions between Western countries and Beijing over access to high-end technology.
North Korea flaunts nuclear arsenal at military parade in challenge to West: WP reports Kim Jong Un showed off new weapons systems at a parade in Pyongyang, with Chinese and Russian guests of honor, in their latest display of solidarity.
Japan needs foreign workers. Its far right is turning against them: In the city of Toyota, immigrants help power the economy while facing political backlash. Bloomberg
China detains prominent underground pastor, drawing rebuke from US: WSJ reports Ezra Jin has led one of China’s most vibrant church networks, spanning 40 cities; ‘They are afraid of my husband’s influence.’
Pakistan says 23 soldiers killed in border clashes with Afghanistan: FT reports Taliban government claims it launched ‘retaliatory operation’ after blaming Islamabad for recent air strike in Kabul.
Bracing for war, Venezuela’s Maduro starts Christmas early — again: WP reports it’s become an annual tradition: President Nicolás Maduro, feeling pressure from opponents or enemies, plays Santa. Venezuelans aren’t buying it.
Argentina: Right country, wrong rescue: Javier Milei needs US help, but his country really needs dollarization. WSJ-Editorial
Global economy defies Trump’s trade war but ‘cracks in the foundation’ emerge: Research for FT warns geopolitical turmoil, weak confidence, and risk of a stock market correction threaten growth. FT
‘This is existential’: Donald Trump’s tariffs drive US car sector into turmoil: Michigan’s ‘Big Three’ carmakers forecast a combined $7bn tariff-related hit to earnings in 2025. FT
Trump announces new 100 percent tariffs on China: WP reports Trump also said he may cancel a meeting with Xi in retaliation for China’s “hostile” move to limit access to rare minerals used in manufacturing.
US and China reignite trade war with focus on rare earths and tariffs: Le Monde reports that after Beijing announced new controls on foreign-made products containing Chinese rare earths, Donald Trump threatened to impose an additional 100% tariff as soon as November 1.
China vows to retaliate against Trump’s tariff threat: The Times reports Beijing’s commerce ministry declared it ‘not afraid to fight’ a trade war. The S&P 500 index fell more than 2 per cent after Trump’s latest tariff threats.
Trump’s 100% tariff threat sparks defiance from Beijing: Politico reports Beijing defends its new rare earth export curbs and warns its readying “corresponding measures” to counter any new US tariffs.
Bloomberg: Xi’s red line on Trump’s export curbs threatens to upend truce
Trump’s fresh tariff assault threatens China’s fragile economy: WSJ reports Beijing was already seeing growth slow before Trump announced the latest 100% tariff increase, part of a trade-war flare-up that China has blamed on the US.
The US-China trade war is back on: Like a couple headed for divorce but still cohabitating, what could go wrong? WP-Editorial
US economy may be living on borrowed time, not weathering tariffs: As economists gather in Washington for the International Monetary Fund and World Bank meetings, they can debate the true impact of President Trump’s policies. The Times
Bloomberg: Trump, Vance open door to China deal as trade spat drags on
Pentagon steps up stockpiling of critical minerals with $1bn buying spree: FT reports Trump administration challenges Chinese dominance of supply chain for metals essential to defence industry.
The government shutdown is finally starting to bite: WSJ reports pressure on federal workers and contractors grows, while servicemembers get good news.
Government shutdown tests everyone’s patience: WSJ reports as impasse drags on with no end in sight, references to ‘Groundhog Day’ abound at the Capitol.
The pain from the government shutdown is about to hit the public: WP reports federal officials are bracing for the worst effects of the ongoing government shutdown to collide with the U.S. economy this week as missed paychecks and the absence of billions of dollars of government services sink in.
US government shutdown begins to undermine the country's economy: Le Monde reports with no budget agreement being reached in the Senate, the US federal government has been shut down since October 1. Over 600,000 federal workers have been furloughed, and some could have back pay withheld.
Trump says military will get paid despite shutdown: WSJ reports president says funds have been identified to ensure that military servicemembers don’t miss Oct. 15 paychecks.
Pentagon will pay military troops, Trump says, shifting $8B: Politico reports the president said Saturday that Defense Secretary Pete Hegseth has funds available to pay troops on Wednesday.
Why Republicans’ attempts to kill Obamacare keep backfiring: WP reports the White House and some Republicans are growing nervous that Democrats’ demand to boost Obamacare as part of a government funding bill has salience with voters.
Trump administration says immigration enforcement threatens higher food prices: WP reports in an unusual acknowledgment, the Labor Department said that tougher immigration enforcement is hurting farmers and the food supply.
Barron Trump tipped for top TikTok job: Telegraph reports US president’s 19-year-old son could be appointed to the app’s board.
Trump is in power. Somehow, the wackos aren’t satisfied. Even a populist presidency can’t stop the online right’s slide into irrationality. Sohrab Ahmari
Trump escalates his use of federal power to target Democratic states: WP reports Democrats see a pattern of inflicting pain on places that are politically unfriendly, while Trump has declared his intent to hurt liberal areas and policies.
Marjorie Taylor Greene, welcome to the resistance: She was the face of MAGA in Congress. Now she’s done toeing the line. Jim Newell
Joe Biden is going through a new phase of treatment for his cancer: Le Monde reports the former US president, 82, is receiving radiation and hormone therapy. He was diagnosed with an aggressive form of prostate cancer after leaving office.
What really drove Silicon Valley’s shift to the right: In Gilded Rage, journalist Jacob Silverman argues that a decade of free cash turned tech’s utopians into power brokers and made Trump their unlikely ally. Bloomberg
Paramount circling Warner Bros. Discovery after rebuffed approach: WSJ reports David Ellison’s company could take a plan to create a sprawling media conglomerate directly to shareholders.
AI videos of dead celebrities are horrifying many of their families: WP reports ChatGPT-maker OpenAI’s new tool lets users make realistic AI videos of dead public figures. A rush of crude and racist memes has followed.
AI solver fails to outsmart Times cryptic crossword champion: The Times reports Darmok, a program created by a professor in Texas, failed in the semi-final of the annual contest in which Mark Goodliffe won his 14th title.
Elon Musk’s xAI joins race to build ‘world models’ to power video games: FT reports artificial intelligence group hired staff from Nvidia to work on advanced AI that can design and navigate physical spaces.
Why AI will widen the gap between superstars and everybody else: Workplace tensions and resentment will rise if top performers benefit more than everyone else from artificial-intelligence tools. But there are things companies can do to level the playing field. WSJ
The real AI risk is ‘meh’ technology that takes jobs and annoys us all: While AI doomsday scenarios dwell on the risks posed by superintelligent robot overlords, one Nobel-Prize winning economist fears a more mundane possibility. Bloomberg
How Google is walking the AI tightrope: The tech giant is trying to have it both ways regarding how its search business will fare. Tim Higgins
Why OpenAI is whining to Europe: The market leader in chatbots quietly tries to get antitrust authorities to go after competitors. WP-Editorial
Towns are saying no to AI data centers. One got sued over it. A developer sued a Michigan township after it voted against a data center proposal. Cities in Ohio and Missouri have explored data center bans. WP
California’s wine industry is in crisis: WSJ reports changing drinking habits, falling prices, tariffs, and the weather are forcing winemakers to do the unthinkable: rip up the vines.
GM’s rare-earth gamble pays off as China tightens magnet exports: WSJ reports the automaker has quietly seeded the revival of the domestic magnet industry, locking down supply amid trade tensions.
From BYD to Xpeng: Chinese automakers target French corporate fleets: Le Monde reports Chinese car brands, now available in France, still have only a modest foothold in corporate fleets. However, some, leveraging their considerable resources and technological lead in electric vehicles, make no secret of their ambitions for expansion.
‘The Stella show’: The executive at the heart of BYD’s global push: Stella Li is steering the Chinese carmaker through price wars at home and tariffs abroad in its pursuit of EV dominance. FT
‘Car brain’ is making the US unhealthy and dangerous. EVs won’t fix it. A trio of new books argues that we need to confront the full range of costs that car-based living has imposed on our cities, our health, and our society. Bloomberg
He won the $2 billion Powerball. Now he’s buying up Lots burned in the LA fires. WSJ reports Edwin Castro is one of the biggest investors snapping up destroyed properties—and he wants to lead in rebuilding his hometown of Altadena.
Inside the empire that sports parents built: Moms and dads with coolers, cleats, and credit cards are powering a $40 billion US youth-sports industry and its unofficial home base, Dick’s Sporting Goods. Bloomberg
He was a homeless college student. He found hope in a parking lot. Long Beach City College reserves 15 spots in a parking lot for homeless students. For Edgar Rosales Jr., the program has been a lifeline. WP
New Englanders are fed up with leaf-peeping tourists ruining their Fall. According to a WSJ report, locals are pushing for road closures and parking restrictions, while general stores peddle figurines that make fun of social media-obsessed visitors.
WSJ: Diane Keaton, soulfully quirky muse to a generation, dead at 79
Diane Keaton’s style was wildly eccentric — and the most authentic thing in Hollywood: In an industry that celebrates women who adhere to traditional notions of feminine appeal, she refused to present as anyone but herself. Rachel Tashjian
Paris's remarkable fashion week masks the luxury industry's headlong rush: By reigniting the dream machine, the so-called 'fashion week of the century' has signaled the rise of a new generation of designers − but without revealing anything about the intentions of the leaders of luxury conglomerates. Elvire von Bardeleben
WSJ: Penn State expected a shot at a national championship. It just dumped its head coach instead.
James Franklin is fired after Penn State goes from hopeful to horrid: WP reports the Nittany Lions’ stunning loss to Northwestern on Saturday dropped them to 3-3 overall and 0-3 in Big Ten play.
+ @JoePompliano: Penn State head coach James Franklin has been fired, according to ESPN. That means Penn State will now pay Franklin $48 million to not coach football. There is not a single better job in America than being a big-time college football coach who gets fired.
Sexism, speed, and meeting Toto: Susie Wolff on her life in F1: The Drive to Survive star, the first woman to drive in a Formula 1 weekend, was once asked in the pit lane if she was from the catering department, and was harassed in a hotel room by a senior racing boss. Can she help motorsport get over its woman problem? The Times
Revealed: How Ineos asked riders to inhale deadly carbon monoxide: Seasoned professionals and teenagers from Sir Jim Ratcliffe’s team underwent controversial rebreathing tests of CO gas in room 101 of a Spanish hotel. The Times
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
A11. | October 10
A new beginning for the Middle East: The breakthrough in Gaza could open up a new approach to peace. Economist
Trump declares peace in the Middle East: Telegraph reports Gaza ceasefire to begin on Friday, with hostages freed early next week, says president after Israel and Hamas agree to his deal.
Trump calls Gaza deal a ‘momentous breakthrough’: NYT reports all remaining hostages will be returned early next week, the president said. A top Hamas official declared an end to the two-year war, as Israeli leaders met to approve the first phase of a cease-fire agreement.
Trump plans trip to Middle East to sign Israel-Hamas ceasefire deal: WP reports many senior officials from the region were willing to hand credit to Trump for a major foreign policy victory — even as some warned that deep divisions about Gaza’s long-term future could still derail peace.
Bloomberg: Norway on edge over Trump ahead of Nobel Peace Prize verdict
Yes, Trump deserves the Nobel Peace Prize: His Gaza agreement, though still fragile, adds to an unprecedented peacemaking record. Marc A. Thiessen
To keep his Nobel dream alive, Trump needs this peace deal to survive: Keen to boost his record of ‘ending wars’, after eight months of stalled negotiations the president has hailed a breakthrough — but there’s a long way still to go. Katy Balls
For the Gaza ceasefire, the hard part starts now: If the deal leads to a lasting peace between Israel and Hamas, Trump will deserve the credit that he will no doubt demand. Jessica Karl
How Jared Kushner, a self-described 'deal guy,' helped broker a Gaza breakthrough: Trained in New York City real estate, the president’s son-in-law had a single goal: Get to a yes first, and hash out the details later. “It’s just different being deal guys — just a different sport,” he said. NYT
China puts new limits on rare earths as Xi’s meeting with Trump looms: China has put new export controls on rare earths, used in US defense technology and computer chips, ahead of a meeting between the two countries’ leaders. WP
Rare earths: China curbs exports of key processing technologies: Le Monde reports Beijing is the world's leading producer of minerals essential for digital technology, automobiles, energy, and weapons.
China unveils sweeping rare-earth export controls to protect ‘national security’: FT reports rules come ahead of expected meeting this month between Donald Trump and Xi Jinping.
Xi Jinping is personally involved in China’s new five-year plan: Wonks are falling over themselves to offer suggestions for spurring growth. Economist
Japan has an ‘enshortification’ problem: An ageing workforce is affecting all sorts of professions. Leo Lewis
British universities expand to India — as Starmer stands firm on visas: The Times reports the University of Lancaster and the University of Surrey will open campuses in Bengaluru and Gujarat. No 10 says it will generate £50 million for the UK economy.
Princess of Wales warns of smartphone ‘disconnection epidemic’: The Times reports in a heartfelt essay, Kate calls for families to prioritise real connection over screens, saying that love begins with true presence.
The stricken Tories reach for the chainsaw: A wise move for a party in a dire position. Economist
Macron looks for new prime minister, again: The Elysée Palace said a successor to Sébastien Lecornu would be appointed by Friday. Talks continued throughout Wednesday on finding a budget compromise. Le Monde
French political chaos has one clear winner: Marine Le Pen: Far right Rassemblement National is waiting in the wings and casting itself as a stable force. FT
Vladimir Putin said Russia brought down an Azerbaijan Airlines jet in December, mistaking it for a Ukrainian drone. The Russian president’s admission of responsibility for the crash, which killed 38 people, was shared at a meeting with Ilham Aliyev, Azerbaijan’s president.
NATO weighs armed response to Vladimir Putin’s hybrid war: Alliance mulls easing restrictions on pilots opening fire on Russian aircraft. FT
The Davos set in decline: Can the World Economic Forum save itself? Battered by scandal, the Swiss organisation behind the annual summit faces a moment of crisis. Insiders say its future may depend on the success of next year’s meeting. FT
State Dept. eyes $50M in aid for Greenland’s polar bears, stunning critics: WP reports documents reviewed by The Post show that the administration may spend millions to protect vulnerable wildlife, proposals that stunned critics of its moves to gut foreign assistance.
US buys Argentinian pesos: WSJ reports Treasury Secretary Scott Bessent said the US bought Argentinian pesos in a bid to support the economic overhaul being enacted by the country’s president, Javier Milei.
Bloomberg: US launches financial rescue of Argentina, Ttreasury buys pesos
Tariffs are way up. Interest on debt tops $1 trillion. And DOGE didn’t do much. As the books closed on US government’s fiscal 2025, here’s what has changed about federal budget—and what hasn’t. WSJ
‘Farmageddon’ can’t be solved with a bailout alone: Farmers in the Midwest are bringing in bumper crops of soybeans, corn, and wheat, but their best customers are shopping elsewhere due to a global trade war. Patricia Lopez
Senators try to craft exit ramp for shutdown as tensions rise: WSJ reports one lawmaker floats the idea of temporarily extending enhanced Affordable Care Act subsidies with income caps to break the deadlock.
Democratic alarm over an unbound Trump fuels shutdown standoff: NYT reports the threat of rising Obamacare premiums has been Democrats’ main focus in the public debate, but the president’s defiance of laws, norms, and congressional constraints has helped hold them together in opposition.
JB Pritzker has had it with Democrats who won’t stand up to Trump: The Illinois governor, a potential presidential candidate, is fighting the presence of National Guard troops and the activities of ICE agents in Chicago. NYT
Justice Dept. secures indictment of New York Attorney General Letitia James: WSJ reports Trump had called on prosecutors to bring a case against the Democratic official who sued him for fraud.
Justice Department indicts New York Attorney General Letitia James: WP reports the department is accusing James of committing mortgage fraud when she purchased a property in Virginia in 2023.
She won her election, but the House speaker still has not sworn her into office: Adelita Grijalva’s offices — both in Washington and back in her district — are closed, leaving the constituents of Arizona’s 7th Congressional District without representation. WP
Oklahoma’s Republican governor criticizes National Guard deployment in Chicago: NYT reports Gov. Kevin Stitt, the current chairman of the National Governors Association, broke with Texas, saying, “Oklahomans would lose their mind” if Illinois sent troops to their red state.
Trump’s redistricting power grab is losing momentum Ed Kilgore
Andrew Cuomo’s delicate quest for Republican votes David Freedlander
Katie Porter goes viral for ‘unhappy’ TV interview in California governor’s race: NYT reports the former Democratic congresswoman, known for her own grilling of executives on Capitol Hill, threatened to abandon an interview after she was asked several follow-up questions.
After years of protests, environmentalists are fighting to save nuclear plants: WSJ reports that where governments and the public once saw safety risks, some now see a source of low-carbon electricity.
Lay’s chips are getting a makeover for the MAHA era: WSJ reports aiming to boost sales, PepsiCo is leaning into “real potatoes” marketing and natural ingredients.
America’s manufacturing resurgence will be powered by these robots: China has more industrial robots than the rest of the world combined, but newer, more flexible robots are keeping smaller US manufacturers in the fight. Christopher Mims
The Chinese robots are coming: China is miles ahead in the race to dominate a technology that could define the 21st century. Selina Xu + Helen Zhang
Rishi Sunak takes Microsoft and Anthropic advisory jobs: FT reports the former UK prime minister adds Silicon Valley posts to his role advising Goldman Sachs.
I’ve seen how AI ‘thinks.’ I wish everyone could. Experimenting with the math and data behind large language models can be exhilarating—and revealing. John West
What if OpenAI went belly-up? To gauge the centrality of the AI superstar, we conduct a thought experiment. Economist
A mystery CEO and billions in sales: Is China buying banned Nvidia chips? An executive of a Singaporean firm called Megaspeed socialized with Nvidia’s Jensen Huang. Now the company is being scrutinized by US officials for its ties to China. NYT
Intel’s big bet: Inside the chipmaker’s make-or-break factory: The centerpiece of the company’s comeback hopes is a multibillion-dollar facility in the Arizona desert. Will it draw new customers? NYT
Inside Intel’s big bet to save US chipmaking — and itself: Claims of a breakthrough at the chips company’s new Arizona facility will be tested by sceptical Big Tech customers. FT
Bloomberg: Microsoft forecasts show data center crunch persisting into 2026
Meta’s $799 display glasses give a glimpse of the future: Review: The social networking giant has found a new category that consumers will need to take seriously. Bloomberg
Delta predicts premium seat sales to overtake economy as soon as 2026: WSJ reports shares of the largest US airline by market capitalization traded 4% higher by midday Thursday after it unveiled quarterly earnings.
Meet the man bringing Shein's fast fashion into major French department stores: Frédéric Merlin, owner of the BHV and several Galeries Lafayette department stores, sparked a controversy after announcing that the Chinese fast fashion brand Shein would be coming to his stores. Le Monde
Shoemakers target a new market: Rest days: For years, shoemakers juiced their profits thanks to the craze for expensive carbon-plated running soles with thick, bouncy foams. Now they’re putting breathable, restorative footwear on people whose feet are already tired. Bloomberg
America is minting lots of cash-strapped millionaires: Millionaire households are on the rise, but much of their wealth is in hard-to-reach assets. Bloomberg
How the art of Joan Miró influenced America: A new exhibition in Barcelona features unseen work by the Catalan modernist alongside paintings by US contemporaries such as Jackson Pollock and Mark Rothko. The Times
The sports wager with terrible odds that bettors can’t stop making: As betting booms, parlays are accounting for an increasing share of the money wagered on sports, according to a Washington Post analysis of state data. WP
Angel Reese is getting her wings: On Thursday, Victoria’s Secret announced the WNBA star would walk the runway in its next fashion show on October 15. Reese will be the first professional athlete to ever model in the show.
During the Vendée Globe, sailor Charlie Dalin 'didn't think much' about his cancer: 'I was happy at sea': In a book, the skipper who won January's solo, nonstop, round-the-world race without outside assistance reveals that he competed while undergoing treatment for a gastrointestinal stromal tumor. Le Monde
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
A11. | October 9
IMF chief says global economic uncertainty is the new normal: On Trump’s tariffs, IMF Managing Director Kristalina Georgieva says ‘the full effect is still to unfold.’ FC
Trump says Israel and Hamas agree to hostage release in step toward peace: WSJ reports the deal came after tense negotiations, with many details left to iron out.
Israel and Hamas agree to first phase of ceasefire deal, Trump says: WP reports the president’s announcement says the agreement includes the release of hostages and the withdrawal of Israeli troops from Gaza.
A euphoric Donald Trump wins a breakthrough in the Middle East: A hostage release and Gaza ceasefire are welcome. But they are just the start. Economist
Bloomberg: Trump gave Qatar a security guarantee and isn’t explaining why
Meet the young Tories dreaming of a bright blue future: The Conservatives know they have a problem with Gen Z voters. At the party conference, The Times met a new breed of activists who are embracing the challenge The Times
Emmanuel Macron to name a new French PM by Friday: FT reports outgoing premier Sébastien Lecornu says prospect of a snap parliamentary election is receding.
Italian MPs from Meloni’s party call for ban on Islamic face coverings: FT reports lawmakers from Brothers of Italy aim to combat ‘religious radicalisation’ with wide-ranging proposals.
German parliament votes to get rid of fast-track citizenship: DW reports crossing fast-track citizenship off the books was a key migration-related election campaign promise from Chancellor Merz's CDU. Critics argue that this will deter highly qualified immigrants from coming to Germany.
Meat substitutes: The European Parliament voted to chop meat-related words, like “burger” and “bratwurst”, from plant-based products. The changes are part of a broader package, aimed at helping farmers, that the bloc will negotiate before it can become law.
Putin flies in to visit Russia’s restless backyard: The Russian president will attend a summit this week with the former Soviet republics in Central Asia, who are also being courted by China and the EU. The Times
Russia: Momentum for peace after Putin-Trump summit 'gone': DW reports the impetus for reaching a peace deal in Ukraine following the meeting between Vladimir Putin and Donald Trump in Alaska has largely "gone," a Russian official has said.
Trump mulls supplying Ukraine with Tomahawk missiles: DW reports US President Donald Trump is no longer ruling out allowing Ukraine to acquire American-made Tomahawk missiles. These could strike deep inside Russian territory, and Kyiv believes they could change the course of the war.
IMF presses China to reflate economy as growth slows and tariffs bite: Nikkei reports uneven spending over Golden Week holidays signals consumer caution.
The sinister disappearance of China’s bosses: Detentions, public shaming, and suicides intensify the country’s corporate gloom. Economist
US stablecoin dream is a nightmare for China: China's President Xi Jinping is concerned about the impact of US stablecoins, which could lead to a new wave of dollarization and undermine the yuan's role in international payments. Andy Mukherjee
Analysis: US-China power game heats up ahead of APEC summit: South Korea caught in the middle as it prepares to host regional powwow. Nikkei
Takaichi's PM appointment to be delayed, affecting US, China diplomacy: Nikkei reports Diet vote now likely on Oct. 20 or later, pushing back passage of supplementary budget.
The Argentine peso, and Javier Milei, are in trouble: The president’s economic team has decamped to Washington, trying desperately to confirm American support. Economist
NYT: Strikes on purported drug boats are said to have also killed Colombians
Senate bipartisan move to restrict Trump’s Venezuela war powers fails: WP reports Democrats called the Trump administration’s lethal strikes on alleged Venezuelan drug traffickers unconstitutional but were unable to persuade Republicans to vote for a restraining measure.
Drilling frenzy arrives in Canada’s pristine wilderness: As countries around the world scramble to secure fuel to run their power plants, natural gas has attracted energy producers to Canada’s westernmost province. Bloomberg
The five Norwegians with Trump’s Nobel prize dream in their hands: Despite his lobbying campaign, the US president is still seen as an outsider in the race — although stranger things have happened. The Times
Donald Trump looms large over Nobel Peace Prize: US president pressures Norwegian government and independent committee to select him on Friday. FT
Trump excludes generics from pharmaceuticals tariff plan: WSJ reports the administration has been weighing duties for months on a range of products and ingredients in a national-security tariff investigation.
Axios: Mike Johnson faces growing internal revolt over shutdown
Republicans caution White House on inflicting shutdown pain: WSJ reports some GOP lawmakers have warned the president’s aides against mass layoffs and sharp cuts to government assistance.
Flight delays could force parties to the shutdown bargaining table: Politico reports disruptions caused by staffing shortfalls may up the pressure on lawmakers to strike a deal.
Hegseth’s sprawling hunt for Charlie Kirk critics spans nearly 300 investigations: WP reports the inquiry, resulting in a smattering of disciplinary action so far, follows an extraordinary Pentagon directive aimed at silencing criticism of the slain activist and Trump supporter.
A quarter of FBI agents are assigned to immigration enforcement, internal data shows: WP reports the intense focus on immigration has raised alarm among FBI agents who say morale is low across the bureau as they have less time to dedicate to national security, white-collar crime, and complex cases.
Before Trump ordered in troops, federal officers called Portland protests ‘low energy’: NYT reports Oregon officials say the atmosphere outside an ICE building that has drawn daily demonstrations since June has grown worse since the president’s threats.
The bad blood between Trump and Pritzker goes back decades: WSJ reports President Trump’s declaration that Illinois Gov. JB Pritzker should be jailed is the latest clash between two feuding billionaires.
Texas’ blue-state deployments shred relations between governors: NYT reports state leaders have prided themselves on finding bipartisan consensus, but President Trump’s deployment of National Guard troops from Texas to Illinois has ripped the veneer off that image.
What game is Trump playing with his military deployments? Ross Barkan
WP: James Comey pleads not guilty in case roiling Justice Department
NJ-GOV: A Public Policy Polling survey in New Jersey finds Mikie Sherrill (D) with a small lead over Jack Ciattarelli (R) in the governor’s race, 49% to 43% with 8% unsure.
Katie Porter’s viral videos plunge campaign into ‘disaster’: “Is this a disaster? Yes,” a veteran Sacramento strategist concluded. Politico
Florida man arrested, accused of starting deadly Palisades Fire in California: WP reports the fire killed 12 people and destroyed more than 23,000 acres, part of a series of blazes that devastated the Los Angeles area in January.
Man fascinated with fire imagery is arrested in Palisades blaze, officials say: NYT reports officials say that Jonathan Rinderknecht, 29, of Melbourne, Fla., had intentionally set a fire that rekindled a week later into a devastating blaze that killed 12 people.
Le Creuset is cheugy: Why does a collection of $400 pots suddenly look so cheap? Tammie Teclemariam
In Grenoble, Shein's arrival splits local retailers: 'It could bring more people into the city, which is always welcome': The Chinese ultra-low-cost fashion brand announced it would set up shop at BHV Marais in Paris as well as in Galeries Lafayette in six other French cities including Grenoble, sparking mixed reactions. Le Monde
First comes Dimon’s new tower. Next up, a JPMorgan neighborhood: Inside America’s biggest city, its biggest bank has been piecing together a multi-block campus. Bloomberg
Kentucky’s AG launches Roblox lawsuit claiming platform isn’t safe for kids: FC reports the Kentucky suit is the latest to allege that Roblox isn’t doing enough to protect the children who use the gaming site.
AI bubble risks global market sell-off, Bank of England warns: The Times reports valuations are ‘comparable to the peak of the dotcom bubble’, raising global market concerns and threats to the UK.
Microsoft tries to catch up in AI with healthcare push, Harvard deal: WSJ reports the company seeks to move away from dependence on its partner OpenAI and build a consumer base for its Copilot chatbot.
Ari Emanuel bets AI will boost leisure time with three-day working week: Hollywood agent raises almost $3bn from investors including Apollo and QIA for venture spanning tennis to car auctions. FT
Will AI destroy us? Consider the nature of intelligence. The real threats AI poses will come from the humans who wield it. Eric Oliver
The flawed Silicon Valley consensus on AI: Serious questions remain about what will happen if we do — and don’t — replicate human intelligence. John Thornhill
AI has this harmful belief about women: A new study analyzed 1.4 million online images and videos, plus nine large language models trained on billions of words. Here’s what it found. FC
Ford Motor Co. could face as much as a $1 billion earnings hit from the shutdown of an aluminum plant in New York after a fire last month, an Evercore ISI analyst said in a Wednesday investor note.
Behind the lens: Breaking the news to a Nobel Prize winner: They say a picture is worth 1,000 words, but these photos may be worth a Nobel Prize. In the early hours of Monday morning, Seattle-based AP photographer Lindsey Wasson got the call that a pair of Nobel Prize winners lived nearby and raced to the home of Mary E. Brunkow, the recipient of the Nobel Prize in medicine, to cover her reaction. AP
+ “Sir, your wife just won the Nobel Prize.”
Variety: ‘Heat 2’ moves from Warner Bros. to Amazon MGM as Michael Mann’s sequel gains traction
‘Heat 2’ is on: Michael Mann Crime Drama Moves From Warner Bros. to United Artists; Jerry Bruckheimer, Scott Stuber Producing: THR reports Mann is set to direct the follow-up to his 1995 feature, which has Leonardo DiCaprio circling to star.
‘Les Misérables’ at 40: The unlikely story of a hit: Critics initially panned it, but public love for the musical with songs like “One Day More” and “On My Own” has kept it going strong for four decades — and counting. NYT
Discord at the Venice opera house: La Fenice’s orchestra has objected loudly to the appointment of a conductor aligned with Giorgia Meloni’s party. Amy Kazmin
Inside Sixto Rodriguez's Detroit home, now for sale. See where the 'Sugar Man' lived Detroit Free Press
NBC Sports: Report: “Potential exit strategy” discussions have begun as to Bill Belichick
Who knew Bill Belichick would be a disaster at UNC? Anyone paying attention. Tar Heels boosters intent on making a splash hired the eight-time Super Bowl winner to lead their program. An actual college football coach would have made more sense. Steven Godfrey
AFP: Tigers rally to beat Mariners, stay alive in MLB playoffs
Ronaldo becomes first football billionaire with big Saudi contract: The Portuguese national is in the twilight of his playing career, but his contract at Saudi Arabia’s Al-Nassr has propelled him into a select group of the very wealthiest athletes. Bloomberg
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal