To crack 21st-century populism, revisit the 17th century: One way to cope with our confusing times is to look back at the past. Studying history does more than provide us with a perspective on the rush of events. It suggests how they might unfold in the future and how we can shape them to our advantage. Adrian Wooldridge
Reading Schmitt in Beijing: How China’s rise provoked America’s illiberal turn. Benn Steil
China hawks grow queasy over Trump’s push for deals with Beijing: Trump rewrote Washington’s rules for dealing with China in his first presidency, embracing confrontation, launching a trade war and upending decades of policy. In his second term, China hawks in Washington fear that Trump is going soft. Bloomberg
As America fumbles, China races ahead: Xi is building the future while Trump pushes tariffs and fights the woke wars. Fareed Zakaria
Thwarted plot to cripple cell service in New York was bigger than first thought: Sources: A thwarted plot to cripple the telecommunications system in New York was bigger than investigators first realized, adding to the urgency of their search for answers, sources told ABC News. Federal agents discovered additional locations and more equipment as they work to determine the ultimate goal of what the US Secret Service said was a China-linked plot that could have crippled every cell tower in the nation's largest city, jammed 911 calls, and unleashed chaos on communications networks.
The inside story of China spy case collapse: ‘It came from the very top’: Official silence on why charges were dropped against Chris Cash and Christopher Berry has angered Westminster and fuelled suspicions that it was a sop to Beijing. The Times
UK government undermined China spying probe to protect Beijing ties, say officials: Prosecution case collapsed after senior security advisers said they would not testify that China was an ‘enemy.’ FT
How China secretly pays Iran for oil and avoids US sanctions: Hidden arrangement secured by prominent Chinese insurer connects Tehran with its biggest customer. WSJ
Tracked: Russia’s drone mothership causing mayhem around Europe: Tanker seized off France is believed to have been used for ‘hybrid war’ attacks in Denmark and Germany. Telegraph
The West is waking up to the Russian drone onslaught: Britain and the rest of Europe cannot risk being caught unprepared by Putin again. Telegraph
The mini-missiles designed to ram Putin’s drones out of the sky: Low-cost interceptor that can be fired from a hand-held cannon could become a powerful part of the EU’s defence capabilities. Telegraph
‘I’m leaving,’ Trump said. ‘There’s no reason to be here any more’: inside the meeting that brought NATO to the brink: Former secretary general Jens Stoltenberg recalls the rollercoaster ride of dealing with Donald Trump – and how close the US president brought the alliance to the point of collapse. Guardian
What America thinks of Blair’s political comeback: Sir Tony’s return to global politics is making an impact in Washington as Trump endorses the former prime minister’s post-war Gaza blueprint. Telegraph
CNN: Trump says Hamas faces ‘complete obliteration’ if it insists on staying in power
Strong-armed by Trump, Netanyahu embraces Gaza deal as a personal win: NYT reports Prime Minister Benjamin Netanyahu of Israel took credit for an emerging agreement, but it was clear that President Trump was calling the shots.
PTSD and suicides spike among Israeli troops amid devastation of Gaza war: WP reports returning soldiers are suffering in record numbers, and the military is scrambling to address an issue once taboo in Israel.
EU pushes new AI strategy to reduce tech reliance on US and China: Brussels to unveil plan targeting digital sovereignty as it warns technology can be ‘weaponised’ by geopolitical rivals. FT
Does Britain need a second Thatcher or must the Tories finally let go? A hundred years after her birth, Margaret Thatcher’s influence is as strong as the Tories’ is weak. How might her example help Kemi Badenoch — and the country? The Times
How not to get a progressive party off the ground: The British left needs a strategy that can win elections instead of throwing them to the right. Arash Azizi
Can Italy finally build the world’s longest suspension bridge? Italy is planning a mega-bridge to Sicily. Locals want none of it. Bloomberg
Japan to expand anti-dumping tariffs amid continued China overproduction: Nikkei reports new rules would allow levies on imports via third countries.
BBC: Sanae Takaichi set to become Japan's first female prime minister
Japan is set for its first female prime minister: NYT reports Sanae Takaichi, a hard-line conservative, was elected as leader by Japan’s embattled governing party, paving the way for her to become prime minister of the coalition government.
Japan gears up for ‘Takaichi trade’ as first female leader prepares for power: Hardline conservative is expected to revive ‘Abenomics’ era stimulus, spending, and fiery foreign policy. FT
Inspired by Thatcher, Japan's PM-in-waiting Takaichi smashes glass ceiling Reuters
New LDP chief Takaichi expected to name Aso to senior party post: Nikkei reports veteran conservative politician known for controversial statements.
Friday: North Korea ruling party's 80th anniversary: North Korea is expected to show off its newest weapons at a large military parade to celebrate the 80th anniversary of the founding of the ruling Workers' Party. High-ranking officials from China and Russia are expected to participate. The last time North Korea held a large military parade was in July 2023 to mark the 70th anniversary of the signing of the Korean War armistice.
Gen-Z protests are spreading globally. What's driving this youth-led movement? The specific grievances differ, but there are common threads. CBC
How Discord has become a tool for youth mobilization in Morocco and Nepal: The American platform has taken on a leading role in recent weeks in youth movements in both Morocco and Nepal – a future its original purpose never anticipated. Le Monde
France's global news agency AFP buckles under pressure from rising populism: Targeted by several authoritarian governments, Agence France-Presse – one of the three leading global news agencies – has found itself struggling financially in the face of a fragile media sector, changing news consumption habits, and the rapid rollout of AI. Brice Laemle
Argentina’s wily currency traders drain Javier Milei’s dollars: FT reports labyrinthine restrictions and chronic instability spawn strategies to profit from foreign exchange policies.
Carney to return to Washington as Trump's tariffs hit sectors hard: Prime minister facing pressure from opposition to land a win. CBC
Calgary is racing to 2 million people. Will next council prepare for it? City hall faces pressure to manage continued growth and strains that come with it. CBC
US shutdown hobbles Haiti’s textile industry amid stabilization push: According to Bloomberg, without the trade deal, Haiti's exports to the US are subject to duties of between 14% and 30%, in addition to the 10% reciprocal tariff that most nations face. The textile sector is one of the few that's working in Haiti and is an important source of revenue for the country, employing more than 24,800 people and exporting to the US, totaling $538 million in the 12 months through July.
Trump’s 50% tariffs sow fear inside Indian apparel hub: Factories that invested in anticipation of a boom in orders are saddled with debt and unsold inventory. Bloomberg
The US-India romance is over: The relationship is at risk of collapse as Washington pushes New Delhi closer to Moscow. Abishur Prakash
How the US trade war uncorked a surprising boom for wineries across Canada: The 'Buy Canadian' movement has sparked a big uptick in local vino sales. CBC
Invasion of the killer IKEA sofas: There’s nothing Trump won’t call a ‘national security’ threat to justify a punitive tariff. WSJ-Editorial
Shutdown: A new YouGov survey found that 41% of Americans think the federal closure will last for two weeks or less. Thirteen percent said they expect the shutdown to last three to four weeks, and 9% said they predict at least a month-long closure.
Government shutdown drags on with little pressure to break impasse: WSJ reports pain from missed federal paychecks, healthcare deadlines will mount, but Republicans and Democrats aren’t budging for now.
Both parties are resigned to deadlock as shutdown takes hold: NYT reports Republicans, who hold a governing trifecta, have adopted a mostly passive stance while Democrats dig in for a fight, with both feeling they have the political upper hand.
Democrats’ defiance on shutdown shows a new, tougher approach to Trump: WP reports in this battle — and a growing number of other political fights nationwide — the party’s mood has shifted dramatically. “There is a growing understanding that you should never try to appease a bully,” Sen. Chris Van Hollen (D-MD) said.
CNN: Trump’s shutdown architect: Russ Vought’s plan to deconstruct the government was years in the making
Shutdown gives Trump administration a chance at DOGE 2.0: Forget Elon Musk. Russell Vought is trying to use the crisis to fire more federal employees. Also on Everybody’s Business, Justin Sun and “Splenda daddies.” Bloomberg
Trump plan would limit Social Security disability benefits for older Americans: Trump administration officials are considering eliminating age as a factor in deciding whether someone is capable of working. WP
GOP to Gen Z: Pay double for health insurance or go without Natalie Foster
Supreme Court and Trump are headed for a reckoning in new term: WP reports that after months of emergency rulings, the justices will be asked to render final verdicts on economic and immigration policies at the core of Trump’s presidency.
NYT: Oregon officials vent fury as California National Guard head to Portland
Judge blocks Trump’s deployment of National Guard in Portland, OR: NYT reports a federal judge appointed by President Trump issued a temporary restraining order, siding for now with Oregon and Portland lawyers who called federalizing the guard a presidential overreach.
Tensions spike in Chicago, Portland as Trump faces legal challenges over troop use: WP reports California says it will sue the Trump administration over plans to send 300 state National Guard troops to Oregon.
Trump sends California National Guard troops to Portland, OR: NYT reports the move follows a judge’s order on Saturday that blocked the Oregon Guard from deploying there. California’s governor said the state would sue.
Trump officials discussed sending elite Army division to Portland, text messages show: A high-ranking White House official was indiscreetly texting about the Portland, OR., planning last weekend, according to messages shared with the Minnesota Star Tribune.
Everything is terrorism in Trump’s America: Identifying faceless ICE agents. Mutual aid for jailed protesters. Calling JD Vance a fascist. The war on ‘antifa’ is a war on free speech, and it’s just getting started. Verge
Pope makes rare comments on US politics, military gathering: Pope Leo, asked about the gathering of military leaders in Virginia and a debate roiling Chicago’s diocese, gave his strongest comments on Trump administration policies. WP
The commander in chief is not okay: Trump put on a disturbing show for America’s generals and admirals. Tom Nichols
Pete Hegseth is living the dream: A man who retired as a major lectures hundreds of generals about the need to meet his standards. Eliot A. Cohen
Hundreds of generals try to keep a straight face: Pete Hegseth gathered commanders from around the globe to unveil new physical-fitness standards. Nancy A. Youssef + Missy Ryan
Donald Trump and the aggressive pursuit of a Nobel Peace Prize: The president said it would be “a big insult” to the US if he doesn’t win. Some in Norway fear retaliation if he’s disappointed. Bloomberg
Today: Nobel Prize announcements begin: Nobel Prize week kicks off with the award in physiology or medicine, and culminates next Monday with the economics prize.
Trump’s Louis XIV moment: Donald Trump has made his mark on democracy. But his plan to extend the East Wing of the White House is a permanent altering of the people’s house and an extension of the Trump brand. A new ballroom might appear as another shrug-worthy flourish in a career filled with gilded lobbies and mirrored atriums, but the symbolism is harder to dismiss. Debbie Millman
Trump’s team hones message on economy: Just wait until 2026: Advisers work to ease voter anxiety about weak jobs growth and stubborn inflation. WSJ
Trump is targeting an economic revival story: Pittsburgh shows how universities and hospitals can fuel renewal — and why Trump’s manufacturing push and cuts to higher education could undermine it. Bloomberg
+ Mini Ross Rant: This is great. I frequently think about how, just four hours from Detroit, Chicago, and Toronto, have powered a bright future and a dynamic economy. Much of this success is due to hosting world-class universities in the respective cities, much like Pittsburgh, which is also only four hours from Detroit.
1929 by Andrew Ross Sorkin — the hubris behind the Wall St crash: The ‘Too Big to Fail’ author returns with an eye-opening account of the banking titans and practices that led to financial disaster. FT
‘If anyone builds it, everyone dies’ is the new gospel of AI doom: A new book by Eliezer Yudkowsky and Nate Soares argues that the race to build artificial superintelligence will result in human extinction. Bloomberg
Will AI free us from life’s tedious admin? I hold out hope that tech can work for us rather than the other way around. Emma Jacobs
Silicon Valley talent war turns nasty as Musk hounds defectors: The race for AI dominance has descended into bitter feuds over a handful of superbrains. Telegraph
Google wants superintelligent AI. First it has to beat teen math prodigies: At the International Math Olympiad, Google’s AI joined hundreds of humans working through problems designed to stump even the brightest minds. Bloomberg
AI investors are chasing a big prize. Here’s what can go wrong. There are good reasons to believe that simply throwing more computing power at the current models won’t be enough. WSJ
OpenAI and Jony Ive grapple with technical issues on secretive AI device: ChatGPT maker is working with former Apple design boss to launch a palm-sized personal assistant next year. FT
Beyond pepper: SoftBank charts new course in robotics with AI: Group puts robot investments under one holding company to coordinate strategy. Nikkei
Satellites and drones are unlocking benefits ‘hidden in plain sight’ in Michigan: Technology is helping farmers use land and fertilizer more strategically. Sometimes, the best practice is no chemicals at all. NYT
What the hell happened to NFTs? The mad gold rush of the digital art world has come to an abrupt end – and people are losing money fast. Telegraph
OnlyFans chief Keily Blair: ‘People can be quite uncomfortable talking about sex’: The boss of one of Britain’s biggest tech start-ups on the ethics of porn, the future of the content creator economy — and why the platform banned Bonnie Blue. FT
Are trampoline bunnies and dog podcasters the future of entertainment? One person’s AI slop is another’s viral hit. Bloomberg
Bloomberg: Stellantis said to plan $10 billion in US turnaround investments
Who’s responsible for these terrible cars, planes, and shoes? Jaguar Land Rover, Boeing, and Nike may be legendary brands, but they’re not living up to the hype as of late. Tobin Harshaw
Bloomberg: IKEA expands in Manhattan in $2.2 billion US push, undeterred by tariffs
Costco to sell popular weight-loss drugs Ozempic and Wegovy: NYT reports Costco members will pay $499 a month out of pocket, the same price offered at CVS and Walmart, and on the manufacturer’s direct-to-consumer website.
Sharpie found a way to make pens more cheaply—by manufacturing them in the US: Newell Brands moved production without cutting employee count or raising prices. WSJ
This Halloween, Americans are expected to spend $860 million on pet costumes, according to the National Retail Federation.
The new age of entrepreneurship: 70 to 79: Septuagenarians starting new businesses leverage technology, experience, and decades worth of contacts. WSJ
What if working from home was a legal right? An Australian state is planning a new hybrid work law despite an outcry from businesses. FT
Detroit is booming—and it’s a must-visit for design lovers: The best way to explore Motor City? By car, of course. AD
A24's Scott Belsky fuels his creativity 'with a fresh dose of surprise': The head of A24 Labs and partner at the indie studio darling thinks about creativity as a system, yet always leaves room to 'unlock a door of intrigue.' FC
MrBeast on his quest to turn YouTube fame into an entertainment empire: The master of viral videos now has a CEO to rein in spending on Lambos—and give his “banger content” an even wider reach. Bloomberg
Rescue efforts are underway after 1,000 people were trapped on the slopes of Mount Everest. According to the BBC, hundreds of local villagers and rescue teams have been deployed to clear snow blocking access to the area, which sits at an altitude of more than 4,900 metres (16,000 feet). According to local media, approximately 350 people have been rescued and guided to safety to the small township of Qudang, the Reuters news agency reported.
The Los Angeles Dodgers’ revolutionary bullpen strategy: No bullpen: Baseball’s $350 million superteam had a glaring weakness. In the playoffs, they’re using their starting pitchers to fix it. WSJ
Friday: NBA games in Macao: The Brooklyn Nets face off against the Phoenix Suns in two preseason matches in Macao on Friday and Sunday, in the first National Basketball Association contests in a Chinese city in six years.
Amazon will allow NBA fans to connect their FanDuel account and display live bets/placed bets on screen during NBA action.
Taylor Swift, NFL, and Starbucks: Real Madrid’s big plan for their Bernabeu brand TA
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
A11. | October 3
*** Ross Rant ***
The media trust crisis that should alarm every leader
A Gallup survey finds American confidence in mass media has collapsed to 31%.
This number is a historic low with profound implications for anyone leading in business or government. The latest numbers, from a survey conducted from September 2 to 16, 2025, mark the first time this Gallup measurement has fallen below 35%.
This isn't a partisan talking point.
When Gallup began measuring trust in news media in the 1970s, between 68% and 72% of Americans expressed confidence in reporting.
Today, trust has cratered across the political spectrum: Republican confidence sits at 12%, independents at 27%, and even Democrats have declined to 54%. When two-thirds of Americans actively distrust the institutions meant to inform public discourse, we face a crisis in our information infrastructure.
The generational data is particularly sobering. Only 38% of Americans 65 and older trust media, while younger cohorts register at 31% or below. As demographics shift, institutional credibility will likely deteriorate further without dramatic intervention.
Top six insights:
1. Trust in media has reached a historic low: At 31%, this marks the lowest confidence level since Gallup began tracking this metric in the 1970s, when trust ranged from 68-72%.
2. Republican confidence has collapsed to 12%: This represents a dramatic decline from already-low levels, and Republican trust hasn't exceeded 21% since 2015.
3. Democratic trust has also declined significantly: Only 54% of Democrats now express confidence in the media, down from historical highs and representing a concerning erosion even among the media's most supportive demographic.
4. A generational divide persists, but everyone's trust is declining: While 38% of adults aged 65+ trust the media compared to 31% or less in younger age groups, even older Americans show substantially lower trust than in previous decades.
5. Two-thirds of Americans are actively distrustful: 67% of US adults express either "not very much" confidence (36%) or "none at all" (31%) in news media, demonstrating widespread skepticism rather than neutral indifference.
6. The decline is universal across all partisan groups: While partisan gaps remain significant, confidence has reached new lows among Republicans, independents, and Democrats alike, indicating this is a systemic issue affecting the entire media landscape.
Why this matters:
Communication becomes nearly impossible when your stakeholders don't trust information sources. Market-moving news faces immediate skepticism. Corporate reputation management operates in an environment where traditional media channels lack persuasive power. Crisis communication strategies built on earned media are fundamentally compromised.
For Capitol Hill staffers, this helps explain why constituents are increasingly rejecting expert consensus and official messaging. For CEOs, it underscores the importance of direct communication channels and authentic engagement more than ever, for private equity executives evaluating portfolio companies, media strategy, and stakeholder trust should be due diligence priorities.
The challenge isn't simply fixing media. It's recognizing that every leader must now build trust directly with their stakeholders. Your voice, your transparency, and your accountability matter more than any press release ever will.
You can access the complete Gallup survey here.
-Marc
*** A11. ***
Hamas to demand key revisions to Trump Gaza plan before accepting, sources say: Guardian reports Turkey and Qatar putting pressure on group to make concessions – but condition it disarm is a sticking point.
NBC: Police declare terrorist incident as at least two killed in car and knife attack outside UK synagogue
+ Thursday's incident occurred as the community observed Yom Kippur, the holiest day on the Jewish calendar.
British Jews say UK terrorist attack was just a matter of time: WSJ reports the community worries about growing antisemitism and feels increasingly isolated as the Gaza war drags on.
Deadly attack outside UK synagogue on Yom Kippur is declared terrorism: NYT reports the police identified the attacker as Jihad al-Shamie, 35, a British citizen of Syrian descent. He was shot dead, the police said, after killing two people in Manchester, England.
Europe’s new war on the Jews: Yom Kippur sees a terror attack in Britain, while Germany foils one. WSJ-Editorial
Trump’s drone deal with Ukraine to give US access to battlefield tech: A Team from Kyiv is in Washington this week to work out agreement details. WSJ
Why not let Ukraine hit Moscow? Trump offers intelligence support for long-range strikes inside Russia. WSJ-Editorial
Ukraine needs Europe to move faster on Russian ‘reparations’: An EU summit made only incremental progress on getting Kyiv access to frozen Kremlin funds. WP-Editorial
Russian gasoline production buckles under Ukrainian drone strikes: WP reports in annexed Crimea, drivers are limited to five gallons of gas at the pump, and all Russians face higher taxes and less social spending as the war drags on.
Vladimir Putin is testing the West—and its unity: NATO must resist Russia’s efforts to corrode it from within. Economist
As Russian drones menace Europe, Putin says Moscow has no plans to invade: NYT reports President Vladimir V. Putin lashed out at “European elites” for “whipping up the hysteria” about the “Russian threat.”
French-German future combat aircraft project on the brink of collapse: Le Monde reports eight years after Emmanuel Macron and Angela Merkel launched it, this symbol of European sovereignty in defense is on the verge of collapse. At issue are the demands of the project's main contractor, Dassault Aviation, which Berlin considers excessive, as well as political and strategic differences between France and Germany.
The unravelling of France’s centrist project: There is a real chance that power will fall into the hands of the extremes. Economist
Labour has a new leader. His name is Nigel Farage: Sir Keir Starmer displayed multiple personalities at his party conference, which shows you that Reform is making the political weather. Patrick Maguire
Britain is trying to create a digital identity system, again: One more heave. Economist
Two cables and the hidden subsea battle between US and China: A high-stakes rivalry is playing out over a vast but vulnerable web of underwater cables that carry nearly all global internet traffic. Bloomberg
The feud that could upend Asia’s balance of power: The Philippines sits at the middle of a China-US power struggle. A pitched battle between its president and vice president could tip the outcome. Bloomberg
Australia rolls out ‘ghost bats and sharks’ in historic defence spending spree: Canberra undertakes the most ambitious military overhaul since the Second World War to meet the China threat. FT
India’s rich flock to Mumbai’s new billionaires’ row: Transformation of city’s infrastructure creates seafront neighbourhood for ultra-rich on single street. FT
8%: The share of land in Paraguay that is owned by Mennonites, a close-knit group of German-speaking Christians.
In Argentina, Milei faces a new setback as Congress overturns spending vetoes: The vote comes as the US-backed Milei struggles to end a run on the national currency, the peso, in the run-up to the crucial October 26 mid-term elections. Le Monde
US Treasury chief says 'fully prepared' to support struggling Argentina: AFP reports US Treasury Secretary Scott Bessent said Thursday that his agency was "fully prepared to do what is necessary" in support of Argentina, a week after revealing both sides were in talks over an economic aid program.
Foreign interference in Canadian elections could get more sophisticated, task force warns: Canada’s most recent election was not significantly impacted by foreign interference. Still, interference attempts could become more sophisticated and social media companies are less interested in protecting democracy, a government task force warns. Toronto Star
Canada making progress in trade talks with US, LeBlanc says: Canada is making “progress” in reaching a breakthrough on US tariffs, according to Prime Minister Mark Carney’s point man in the trade war. Toronto Star
Canada issues warning for US-bound travellers with gender-neutral passports: Toronto Star reports the advisory notes some countries, including the US, don’t recognize the “X” gender identifier, meaning entry is not guaranteed.
Bloomberg: Trump declares cartels in ‘armed conflict’ with US military
US in ‘armed conflict’ with drug cartels, Trump tells Congress: The Trump administration is seeking legal justification for strikes on what it has claimed are Venezuelan drug traffickers at sea. WP
Lawmakers from both sides pressed Pentagon on legal basis for cartel boat strikes: Republicans and Democrats press top Defense Department lawyer in closed-door briefing. WSJ
The embarrassing Pete Hegseth: The Pentagon needs sober, judicious leadership, not a drama queen who makes things jarring and fevered. Peggy Noonan
Trump making plans to send billions in cash bailouts to farmers with taxpayer money: Politico reports the president has also said he wants to use direct tariff revenue for the payments, but that could trigger a major fight in Congress.
Trump explores bailout of at least $10 billion for farmers: WSJ reports the move would come as the agriculture sector warns of economic fallout from Trump’s tariffs.
Wall Street buys Trump tariff refund rights from cash-strapped US importers: Oppenheimer, other financial firms bet on the Supreme Court striking down trade war levies. Nikkei
+ Treasury Secretary Scott Bessent predicted a “pretty big breakthrough” in the next round of trade talks with China, even as the Trump administration takes steps to support American farmers hurt by a decline in Chinese purchases of soybeans.
US farmers hit by trade war to get 'substantial' aid: Treasury chief: AFP reports US Treasury Secretary Scott Bessent signaled Thursday that "substantial support" for farmers would be announced next week, particularly for those growing soybeans, as they struggle with fallout from President Donald Trump's trade conflicts.
+ Mini Ross Rant: As a means to increase GDP, Team Trump is soon to announce a corps of ditch diggers to create a ditch from Baltimore to San Diego. And then to really juice the GDP, Team Trump will announce a corps of ditch fillers to fill the same ditch from San Diego to Baltimore. Brilliant.
Trump's tariff war persists, destabilizing global trade: Six months ago, on April 2, the president of the United States unveiled his 'reciprocal tariffs' on the rest of the world. Since then, Washington has wielded the threat of new taxes to pressure its partners. Le Monde
Thoughts on the US economy: A new CBS News poll finds 59% of Americans say the economy is “getting worse,” and 52% describe the job market as “bad.”
LA’s entertainment economy is looking like a disaster movie: Work is evaporating, businesses are closing, longtime residents are leaving, and the city’s creative middle class is hanging on by a thread. WSJ
What’s wrong with Las Vegas? As prices skyrocket and international travel declines, the city finds itself caught in a perfect storm. NYT
White House senses political risk on healthcare despite shutdown bravado: WSJ reports aides to President Trump are discussing proposals to extend enhanced Obamacare subsidies on which millions of Americans rely.
Senior government officials privately warn against firings during shutdown: WSJ reports the Trump administration has said mass firings are coming, but officials have quietly warned several agencies that the move could violate appropriations law.
Bloomberg: Trump eyes firing thousands of federal workers over shutdown
Trump promises cuts to ‘Democrat agencies’: WSJ reports President Trump redoubled his threat to use the shutdown to slash the federal bureaucracy as Democrats and Republicans dug in for an extended battle.
Trump administration approval of abortion drug infuriates the right: WSJ reports the administration approved a new generic version of mifepristone, a decision made quietly by the Food and Drug Administration this week.
Trump officials cancel $7.6 billion in clean energy projects: WP reports the cuts are the latest in the administration’s efforts to undercut renewable energy and other efforts to decrease the emissions driving climate change.
Newsom threatens funding cuts to colleges that sign Trump deal: Bloomberg reports California Governor Gavin Newsom threatened to pull “billions of dollars” in state funding from any California university that signs a Trump administration proposal offering preferential funding in exchange for certain demands, including a cap on international students.
Jane Fonda relaunches McCarthy-era committee to defend free speech: WP reports the actor said the Committee for the First Amendment — first backed by her father in 1947 — would fight the Trump administration’s attempts to silence critics.
Democrats are putting money into solidly red Mississippi. Here’s why. The DNC is investing in low-profile state races there as the South is on track to wield more power in future elections. Will it work? WP
How Trump’s 2020 election falsehoods are shaping a marquee Georgia race: Warring factions at odds over his failed effort to overturn the outcome are renewing their rivalries in a major midterm contest. WP
The Mamdani effect: Democrats seem to be acting differently since June. Is that a coincidence? David Freedlander
Michigan Gov. Gretchen Whitmer casts doubt on a 2028 presidential bid: Whitmer was asked by a Canadian journalist in a moderated discussion whether she is considering seeking the Democratic nomination for president in 2028. “I anticipate helping, but I don’t know if I’m going to be the person,” she said. AP
Musk joins 'cancel Netflix' campaign: AFP reports Elon Musk has urged his 227 million social media followers to cancel their Netflix subscriptions, accusing the streaming platform of promoting what he describes as transgender propaganda.
Paramount nears a deal to buy Bari Weiss’s Free Press: Ms. Weiss, a co-founder of the site, would become editor in chief of CBS News, people briefed on the talks said. NYT
5 most valuable private companies:
1. OpenAI
2. SpaceX
3. ByteDance
4. Anthropic
5. Stripe
+ Source: CB Insights
OpenAI valuation hits $500 billion while Altman signs more deals in Asia: WSJ reports the share sale speaks to frenzy around artificial intelligence.
AI comes to the video wars: A new period of experimentation in apps has arrived to expand the user experience beyond chatbots. Richard Waters
Younger workers will win the AI economy: Artificial intelligence is slowing hiring for junior roles, but history suggests young workers are often best placed to adapt to new technology. Bloomberg
Convicted moguls Sean Combs and Miles Guo ponder AI platform after jail: FT reports Chinese businessman tells judge ahead of rapper’s sentencing hearing they ‘sleep right across from each other’ in Brooklyn jail.
Music labels close to landmark AI licensing deals: FT reports Universal and Warner seek payment structure similar to streaming as more disruption looms.
Boom or bubble: How long can the AI investment craze last? The staggering investments in artificial intelligence keep coming: Last week, AI chip giant Nvidia announced it would invest $100 billion to help OpenAI, the frontrunner in generative AI, build data centers. AFP
The incompatibility of AI and decarbonization: The notion of 'techno-solutionism,' asserting that artificial intelligence could achieve sufficient energy savings to make the process sustainable, is an illusion. Le Monde-Editorial
Delays to Trump’s UAE chips deal frustrate Nvidia’s Jensen Huang: WSJ reports the multibillion-dollar deal was announced in May, but the commerce secretary has since pushed the UAE for certain US investments first.
ByteDance will be better off without TikTok US: There is a lot more to the Chinese tech giant than its American offshoot. Economist
Warren Buffett’s Berkshire comes to the aid of Occidental Petroleum—again: WSJ reports Berkshire’s $9.7 billion buy of Occidental’s petrochemicals business will allow the company to reduce debt and focus on fossil fuels.
Bloomberg: California-to-Vegas high-speed rail costs jump $5.5 billion
Tesla reported record vehicle deliveries in the third quarter, after months of decline. The strong performance, which saw 497,099 cars delivered globally, was a 7% increase from the same period a year ago.
Volkswagen gets what it paid for: VW welcomed the union last year and now faces a costly work stoppage. WSJ-Editorial
Autonomous truck startup Kodiak set to go public after $2.5 billion deal: WSJ reports the maker of software for self-driving vehicles is one of several companies aiming to automate long-haul trucking.
Paris in uproar as Shein picks capital of fashion for first shop: The Times reports the Chinese fast-fashion giants plan to open stores six French cities outraged the industry, which accused it of flooding the market and destroying local brands.
Japan days away from running out of Asahi Super Dry after cyber attack: Vast majority of factories of nation’s most popular beer have stopped work this week. FT
Detroit Free Press: Ford IT system tampered with to display vulgar anti-RTO message across office screens
Why are Americans relocating? The data shows surprises. The tranquility and safety of suburban and rural areas increasingly appeal to many movers. Mitch Daniels
Meet the first American to win ‘Best Cheesemonger in the World’: Emilia D’Albero won the Mondial du Fromage, one of the world’s top cheese competitions, held every two years in Tours, France. WP
Wine from China is finer than Western snobs imagine: Government support and French expertise have made all the difference. Economist
These numbers are the real reason late-night TV is collapsing: Comedy’s cultural center of gravity has shifted under Jimmy Kimmel and Stephen Colbert’s feet. Mark Robichaux
Can’t stop talking about ‘One Battle After Another’? Neither can we. Ten writers on what Paul Thomas Anderson’s zany political opus is really about. WP
The 25 most influential magazine covers of all time: Our editors, a creative director, and a visual artist met to debate and discuss the best of print media — and its enduring legacy. NYT
Detroit News: Go west! Tigers conquer Guardians, head to Seattle for ALDS
Latest USMNT roster offers look at A-team as World Cup looms: US men’s national soccer team coach Mauricio Pochettino brought Weston McKennie, Antonee Robinson, and Matt Turner back to the fold for matches against Ecuador and Australia. WP
Pulisic, McKennie headline US squad for October friendlies: AFP reports AC Milan forward Christian Pulisic and Juventus midfielder Weston McKennie headline a 26-strong squad named Thursday by USA manager Mauricio Pochettino for two October friendlies.
FIFA 'cannot solve geopolitical problems' like Gaza, says Infantino: AFP reports FIFA president Gianni Infantino said on Thursday football "cannot solve geopolitical problems", as he comes under pressure to suspend Israel over the Palestinian conflict.
The PGA apologizes to Rory McIlroy’s wife Elizabeth Gulino NY Mag
Trump ally threatens immigration sweep at Bad Bunny Super Bowl show: AFP reports US authorities could conduct immigration sweeps at next year's Super Bowl, a Trump administration official has warned, following the announcement that Puerto Rican megastar Bad Bunny will headline the halftime show.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
A11. | October 2
Moscow indicates retaliation if Europe uses Russian assets for Ukraine: NYT reports amid a plan to lend $165 billion to Kyiv using Russian state assets, European officials are mindful of the possibility of blowback as they gather to discuss the idea.
US to provide Ukraine with intelligence for missile strikes deep inside Russia: WSJ reports Trump has approved sharing targeting data with Ukrainians as the administration weighs sending powerful weapons.
Ukraine war’s new front line runs through Denmark: WSJ reports Danes are facing implications of their muscular opposition to Russia’s invasion.
Macron says 'nothing ruled out' if Russian plane violates European airspace: Le Monde reports that after Russia was blamed for drone incursions into Poland and Romania, the French president told a German daily newspaper that 'nothing is ruled out' if a Russian jet breaches European airspace.
France detains Russian ‘shadow fleet’ tanker suspected in drone attack: WSJ reports French President Emmanuel Macron said authorities are investigating incursions into Danish airspace that rattled NATO allies.
Two arrested as French navy boards blacklisted Russian tanker off western coast of France: Le Monde reports the Boracay, part of Russia's sanctioned 'shadow fleet,' was previously off Denmark during drone incursions. French prosecutors have opened an investigation, while President Macron said he would 'remain very careful' and not draw a link to the flights.
The flashing red threat from Russia’s dark fleet: NATO navies struggle to contain a new danger on the seas. Economist
The Trump plan for Gaza deserves praise: America, Israel, and perhaps Hamas, have changed their positions. Economist
Sir Keir Starmer declares a battle for the soul of Britain: The Labour Party takes aim at Nigel Farage and Reform UK. Economist
Labour has decided to stop punching its own voters: Sir Keir Starmer has embraced peace and love of the party’s hippy base. Economist
How the Tories might live again: It will take buyer’s remorse about Labour and fear of the economic consequences of Nigel Farage. Janan Ganesh
Brussels backs Trump-style tariffs on cheap Chinese steel: FT reports new measures would protect industry, but some countries fear that curbing low-cost imports could drive up prices.
Analysis: A storm of PLA purges rages on ahead of key party meeting: How will Xi Jinping maintain balance of power within Chinese military? Nikkei
China launches 'K visa' for tech talent as US clamps down: Nikkei reports Beijing touts 'openness' but move draws online anti-immigrant backlash.
China curbs use of Nokia and Ericsson in telecoms networks: Beijing’s national security drive hits European groups even as Huawei maintains its business on the continent. FT
Bloomberg: Trump vows to confront China over its refusal to buy US soybeans
Trump Asia visit preparations grind to halt with government shutdown: Nikkei reports Malaysia, Japan, and South Korea embassies watch Congress closely. At the end of October, Trump is expected to make his first visit to the Indo-Pacific region in his second term, attending the ASEAN Summit in Kuala Lumpur in Malaysia, stopping by in Tokyo before flying to Gyeongju, South Korea -- the venue of the Asia-Pacific Economic Cooperation (APEC) leaders' week.
+ Lee Jae Myung, South Korea’s president, said that annual defence spending would increase by 8.2% in next year’s budget.
Argentine assets hit by fresh selling amid worries over US bailout: FT reports peso, stocks, and bonds all fall as investors fret over lack of details from Washington on rescue plan.
Bessent’s Argentina rescue pledge put to test by traders attacking peso Bloomberg
Going back to the 1970s won’t save Mexico: Embracing protectionism to prevent Chinese dumping and appease Trump will fail — just like import substitution did. Eduardo Porter
Bank of Canada cut rates despite uncertainty on inflation outlook, minutes say: WSJ reports senior Bank of Canada officials believed a rate cut was warranted even though upside risks to inflation remained intact.
Donald Trump’s tariffs causing economic pain on both sides of the border, Michigan governor says: “Tariffs have been incredibly challenging for Michigan,” said Gov. Gretchen Whitmer at Queen’s Park. “Our economic lives are intertwined.” Toronto Star
The inside scoop on how Canada’s ice-cream giant Chapman’s is rising above tariffs David Olive
Trump’s budget chief, slayer of big government, moves quickly in shutdown: WSJ reports Russell Vought is targeting Democratic priorities and projects since federal funding lapsed.
Trump’s agenda is shaped by Project 2025 author, not Elon Musk Bloomberg
Bloomberg: Trump plans to use shutdown to fire federal workers this week
White House uses shutdown to maximize pain and punish political foes: NYT reports the Trump administration forged ahead with plans to conduct mass layoffs, as the fiscal standoff appeared to intensify.
Trump targets states that voted for Harris in shutdown fight: Politico reports the Office of Management and Budget is withholding billions in energy and infrastructure money in more than a dozen states that voted against Trump.
Congressional Democrats embrace government shutdown, a risky move: WP reports House Democrats gave Minority Leader Hakeem Jeffries a standing ovation in a caucus meeting Monday evening, praising his feisty posture toward Donald Trump.
‘Gen Z Is in the House!’ and other cringe moments in the Democrats’ shutdown marathon: Democrats promised to livestream the shutdown battle until (almost) the bitter end. We watched so you didn’t have to. Politico
Democrats marched into a shutdown trap: Progressive Democrats, like the Freedom Caucus, are urging their party in a dangerous direction. WP-Editorial
Can Democrats break free of the Left? The shutdown isn’t their only problem. The public thinks they’re soft on crime. Karl Rove
White House asks colleges to sign sweeping agreement to get funding advantage: WSJ reports an initial round of nine schools is being asked to sign a wide-ranging accord.
+ “The memo demands that schools ban the use of race or sex in hiring and admissions, freeze tuition for five years, cap international undergrad enrollment at 15%, require that applicants take the SAT or a similar test, and quell grade inflation.”
Hegseth escalates war on leakers with lie detector tests and nondisclosure agreements: WP reports the efforts are part of a wider strategy by the Trump administration and the Pentagon to ferret out officials deemed insufficiently loyal or who provide information to reporters.
Pope makes rare comments on US politics, military gathering: WP reports Pope Leo, asked about the gathering of military leaders in Virginia and a debate roiling Chicago’s diocese, gave his strongest comments on Trump administration policies.
We need to stop being so naive about what America is becoming. Trump and his Secretary of War just showed us why Justin Ling
‘Dangerous cities,’ the military, Trump, and the Founding Fathers: The US armed services have long sought to preserve the tradition of a nonpartisan military. NYT
'War from within,' end of beards, stricter physical tests: Trump and Hegseth unveil new direction for US military: Before nearly 800 generals and admirals, the US president and his defense secretary laid out their vision for a military purged of its 'woke' elements. Its primary mission would now be to combat enemies from within, starting with Democrat-led cities. Le Monde
CBS: UN Ambassador Mike Waltz isn't part of Trump's Cabinet, sources say
America’s pharmacist in chief: The President becomes a drug marketer, while Pfizer gets a tariff break. WSJ-Editorial
Trump keeps blurring the line between capitalism and socialism: President’s plans on drug pricing echo themes of Zohran Mamdani, democratic socialist running for mayor of New York. Greg Ip
Student-loan debt is strangling Gen X: Free-flowing student loans promised upward mobility. Instead, they left the ‘forgotten generation’ with a mountain of debt and regret; ‘I’m going to be working until the day I die.’ WSJ
As stock market booms, Americans have more at stake than ever: WP reports small investors are riding a wave, even as Wall Street’s gains overlay a mixed economic picture and some analysts think the market is overheated.
The Guardian’s new pitch to Americans—it’s not just about Trump: British publisher aims to get more people visiting its website as AI summaries threaten search traffic. WSJ
A ‘Godfather of AI’ remains concerned as ever about human extinction: Yoshua Bengio worries about AI’s capacity to deceive users in pursuit of its own goals. ‘The scenario in “2001: A Space Odyssey” is exactly like this,’ he says. WSJ
Tilly Norwood has Hollywood seething. She’s an AI-generated ‘actor.’ Emily Blunt, Lukas Gage, and Toni Collette are among the actors expressing unease over the AI character Tilly Norwood that is being marketed to Hollywood. WP
Meta to mine AI interactions to help target advertising: FT reports changes signal how the social media giant will make money from its costly artificial intelligence efforts.
Bloomberg: Apple shelves vision headset revamp to prioritize Meta-like AI glasses
AI is not killing jobs, US study finds: Research shows little evidence that cutting-edge tech such as chatbots is putting people out of work. FT
James Anderson warns Nvidia’s $100bn OpenAI bet echoes dotcom bubble: Former Baillie Gifford tech investor says recent jump in AI valuations is ‘disconcerting.’ FT
'China's Nvidia' Cambricon at forefront of AI stock boom: Chinese tech companies dominate list of global top performers last quarter. Nikkei
America’s newest moguls: The Ellisons: With Warner Bros and TikTok, the family would be a force in old and new media. Economist
Walmart to remove food dyes from its Great Value, other private labels: WP reports the nation’s largest grocer will excise certain preservatives, artificial sweeteners, and fat substitutes from its store brands as consumers shift to “cleaner” options.
All dressed chips were a Canadian secret. Now they have a rare shot at US stardom: For decades the ‘all dressed’ potato chip has been a made-in-Canada oddity. Now it’s on the cusp of winning over legions of hungry Americans. Toronto Star
Jane Goodall, who studied chimpanzee behavior for decades in Africa, dies at 91: WSJ reports the British primatologist and global activist won the trust of a chimpanzee group in 1960 that became the focus of her life’s work.
In Finnish Lapland, tourism is encroaching on the last remaining sanctuaries: The 'Green to Grey' investigation reveals the consequences of the tourism boom in Finnish Lapland. Popular with French tourists, this region is one of the last remaining areas of unspoiled nature in Europe. Le Monde
San Francisco is running out of patience with your dog: In San Francisco, pets put their paws on cafe counters, roam sports bars, and lick gym-goers during sit-ups. WSJ
They’re the surprise of the year in college football—and their MVP is a 48-year-old lawyer: Vanderbilt was a doormat in the Southeastern Conference until quarterback Diego Pavia showed up. Now he’s back, but only thanks to a former Vandy cheerleader turned antitrust attorney. WSJ
Are ‘super spikes’ powering America’s running resurgence? Cole Hocker, who has won world titles for the US in the 1,500 and 5,000 meters, said he could be benefiting from new shoes that may give an edge to bigger, heavier runners. WSJ
They were a Super Bowl favorite—until everything started going wrong: Week 4 of the NFL season featured another ugly day for the Baltimore Ravens—along with a rookie quarterback who gave a lifeless New York Giants franchise some hope. WSJ
Jurgen Klopp says MLS quality ‘constantly increasing’ but US youth soccer too expensive TA
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal