The theory behind Trump’s gunboat diplomacy: Venezuela has become Trump’s test of hemispheric reengineering. Politico
Trump’s pivot to the Americas: Renewed focus on Latin America is a welcome shift—but only if it truly advances US interests. Leon Hadar
Miami Herald: Venezuela claims capture of CIA group, accuses US of plotting ‘false flag’ attack
Venezuela ‘captures CIA operatives’: Telegraph reports Nicolas Maduro claims group of mercenaries were carrying out a ‘false flag operation.’
Venezuela claims CIA 'false flag' attack foiled, as US deploys bombers: AFP reports Venezuela claimed Monday to have dismantled a CIA-financed cell plotting a false-flag attack on a US warship deployed to the southern Caribbean, as Washington stepped up pressure on Caracas by flying bombers nearby.
+ Senator Rick Scott (R-FL): “If I was Maduro, I'd head to Russia or China right now. His days are numbered. Something is going to happen.”
AP: US warship docks in Trinidad and Tobago, putting more pressure on Venezuela
The meaning of America’s vast military build-up off Venezuela: The world’s largest aircraft-carrier is making for the Venezuelan coast. Its military aims are unclear. Economist
Trump is circling Maduro. This points to a dark history. The White House is ratcheting up military pressure on Venezuelan dictator Nicolás Maduro. Max Boot
Trump is planning to invade Venezuela. We ought to thank him: If the United States is again engaging positively in world affairs, the rest of us should applaud. Daniel Hannan
The real reason Trump is preparing for war with Venezuela: Aim of new campaign against cartels is, in part, to rid America’s backyard of Chinese influence. Telegraph
Hurricane Melissa collides with US military mission in Caribbean: WP reports President Donald Trump’s military campaign against drug cartels in Latin America could soon reckon with a natural disaster and humanitarian crisis in the region.
Hurricane Melissa tracker: Mapping Jamaica’s category 5 storm: The Times reports the hurricane is expected to bring two and a half metres of rain and winds of 160mph.
Jamaica orders evacuation of capital as major hurricane approaches: Telegraph reports Hurricane Melissa has already killed people in Haiti and the Dominican Republic.
AI-generated fakes proliferate as Hurricane Melissa nears Jamaica: AFP reports AI-generated videos were clogging social media feeds Monday as Hurricane Melissa surged toward Jamaica, diverting attention from critical safety information about the massive Category 5 storm.
Bloomberg: Milei’s party wins Argentina midterm vote in major comeback
Milei’s clear-cut victory unlocks a Wall Street windfall: WSJ reports the win for Argentine President Javier Milei’s party is rewarding investors who bet on the country.
Javier Milei has won a fresh mandate to remake Argentina: A thumping win for his party in the midterms means his radical economic project gains new strength. Economist
Argentina's President Milei says he will seek consensus for new reform push: BAT reports in first interview since his stunning win in Sunday’s midterm elections, Argentina’s President Javier Milei says he will look to achieve labour and tax reforms, followed by changes to the pension system.
After US bailout, Argentine voters give Milei a friendlier Congress: WP reports the vote in Sunday’s midterms came as the United States finalized an up to $40 billion bailout package for Argentina, an effort to boost President Javier Milei.
Argentine bonds and currency surge after victory for Javier Milei’s party: FT reports investors bet that electoral endorsement will keep president’s market-friendly reforms on track.
Milei’s moment? Election triumph hands libertarian shot at reform: Firebrand economist must build alliances to push through structural change in Argentina, analysts say. FT
Argentina’s Milei gets a second wind: After his coalition’s election victory, will he try more durable monetary reform? WSJ-Editorial
Milei’s big win opens a rare window for Argentina Juan Pablo Spinetto
Argentina’s landslide election should be good news to American ears: Voters just delivered a free-market mandate. WP-Editorial
Trump projects peacemaker image at Cambodia-Thailand deal ceremony: WP reports President Donald Trump kicked off his Asia trip in Malaysia by dancing on the tarmac before signing an agreement that formalizes a Thailand-Cambodia ceasefire.
As Trump tours Asia, democracy’s ideals aren’t on the agenda: The durability of the American experiment has been tested in the nine months since President Donald Trump’s return to the White House, with institutions from Congress to the judiciary struggling or declining to check his aggressive attempts to flout the law and expand his power. Straits Times
Asia gets the Trump treatment: After meeting leaders in Japan and South Korea, the president has a summit with Xi. Walter Russell Mead
Japan woos Trump with a royal welcome: WP reports meeting with emperor, though short on pomp, aims to warm up president at start of visit.
Donald Trump hails ‘great friendship’ with Japan: FT reports US president’s talks with new prime minister Sanae Takaichi expected to focus on trade and security.
Japan’s new PM Takaichi has an advantage in winning over Trump: Straits Times reports that when Ms Takaichi holds talks with Mr Trump in Tokyo on Oct 28, she will have another card to play as she tries to win reassurance from him on trade and security. She is expected to emphasise her connection to Mr Shinzo Abe, the Japanese prime minister assassinated in 2022, who was Ms Takaichi’s political mentor and who forged a closer bond with Mr Trump than perhaps any other world leader.
Japan’s new prime minister has two excellent models for Trump summit: Sanae Takaichi would do well to channel Shinzo Abe and Margaret Thatcher in her US dealings. Kurt Campbell
For Japan's new leader, the key to connecting with Trump could be a Ford F-150 truck AP
Trapped between US and China, South Korea feels trade war’s pressure: A preliminary tariff deal with President Trump called for a large investment in the United States, while China has warned Seoul not to side with Washington. NYT
Trump open to extending Asia trip to meet with Kim Jong Un: WP reports the president said it would be “pretty easy” to meet with the North Korean leader on his Asia tour, but White House officials have downplayed the likelihood.
Is the US losing in Vietnam? Russia, North Korea, and China are gaining. US allies worry that American volatility and Russian outreach and arms sales, in particular, are driving Vietnam into a new phase. NYT
Two US Navy aircraft from same carrier crash into South China Sea: WSJ reports Trump calls incidents ‘highly unusual’ and suggests fuel problem as possible cause.
China deepens ties with ASEAN ahead of Xi-Trump talks: Beijing to sign enhanced trade deal with bloc at Kuala Lumpur summit. Nikkei
Trump’s China deal may avert a crisis of his own making: The Trump administration is hailing a potential deal that may return the US-China relationship to where it was before the president began a trade war against Beijing. NYT
Xi gives Trump a Taiwan test: China’s president wants the US to oppose the democratic island’s independence. WSJ-Editorial
Trump, Xi, and the danger for Taiwan: The US president has unnerved Taiwan. But the island can still resist Beijing. Gideon Rachman
Taiwan's 'southbound' strategy hits headwinds in Southeast Asia: US tariffs and weaker returns test the island's companies that once fled China. Nikkei
Trump dangles prospect of Mar-a-Lago visit for Xi: Politico reports US president hints at reciprocal summits with Chinese leader next year as trade talks are revived.
Xi Jinping’s latest purge: Paranoid or purposeful? What the biggest military crackdown in decades says about his strength. Economist
China’s secret stockpiles have been a great success—so far: Xi Jinping is desperate for Trump-proof access to food, fuels, and metals. Economist
Russian President Vladimir Putin met North Korea’s top diplomat during her visit to Moscow as the two countries continue to deepen their military cooperation.
Reuters: Russia tested new nuclear-powered Burevestnik cruise missile
Reuters: Trump says Putin should end the Ukraine war, not test missiles
Trump rebukes Putin for testing new missiles, tells him to end the war: WP reports Russia tested a nuclear-powered cruise missile that it said is capable of traveling thousands of miles. Trump countered that there is a US nuclear submarine off Russia’s coast.
Russia ramps up its military offensive in eastern Ukraine: FT reports the Ukrainian stronghold of Pokrovsk comes under heavy fire as Russian troops enter city.
The conscripts preparing to resist Russia on Finland’s frigid border: On the frontier with Russia, the ‘iPhone and PlayStation generation’ is being trained to expect the worst since the invasion of Ukraine. The Times
Lithuania closes its border with Belarus: Le Monde reports the Baltic state condemned a violation of its airspace after dozens of helium-filled balloons launched from Belarus forced Vilnius Airport to close four times in recent days.
Lukoil, a Russian oil giant, announced it would sell its international operations following American sanctions, and said it was fielding bids from potential buyers.
Prime Minister Viktor Orban said he’ll meet US President Donald Trump to try to shield Hungary from the impact of US sanctions on Russian oil.
London’s sad decline is a warning to New Yorkers: In three terms as mayor, Sadiq Khan has crushed the economic life out of Britain’s capital. Matthew Lynn
European industry caught in crossfire of China's rare earths war: Le Monde reports Western technology sectors, including automotive, defense, aerospace, energy, and chemicals, have raised the alarm over Beijing's new restrictions on the export of these strategic minerals.
Amsterdam turns 750.
AP: Sudan’s paramilitary forces overrun the army’s last stronghold in the Darfur region
Sudan’s paramilitary forces seize el-Fasher, army’s last Darfur stronghold: Le Monde reports military chief General Abdel-Fattah Burhan said on Monday that military officers decided to withdraw from the city entirely in hopes of sparing the civilian population from further violence. Medical groups reported dozens of civilians killed.
BNP Paribas confronts its past over Sudan sanctions breach: A jury told the bank to pay millions to victims of the country’s genocidal regime, but it vows to fight back. FT
Brazil: Ex-leader Bolsonaro appeals 27-year prison sentence: DW reports former Brazilian President Jair Bolsonaro was found guilty of plotting a military coup in September. He has always maintained his innocence.
G+M: Trump agrees to an extension with Mexico for trade talks, Sheinbaum says
US gives Mexico more time to meet demands to avoid tariffs: NYT reports taxes on goods from Mexico had been set to go into effect at the end of the week.
G+M: Carney says he will meet Chinese President Xi at APEC summit
Canada's Carney 'ready' to resume US trade talks, Trump says won't meet 'for a while': Le Monde reports after a week of heightened tensions between the two neighboring countries regarding tariffs, Canadian Prime Minister Mark Carney opened the door to renewed trade talks with the US.
Carney saw Reagan anti-tariff ad before it aired, Ford says: G+M reports Ontario Premier calls it ‘the most successful ad in the history of North America.’
Bloomberg: Ontario premier says he’s not sorry for ad that blew up trade talks
+ “You know why President Trump is so upset right now? It was because it was effective. It was working. It woke up the whole country,” Ford said.
Doug Ford has no regrets about ‘viral’ Reagan ad that angered Donald Trump: While Ontario has paused the $75 million campaign after Ford spoke with Prime Minister Mark Carney, the premier insisted Monday it was effective. Toronto Star
Canada vs. the US: The World Series has taken on symbolic significance amid worsening relations between the two countries. Kelly Candaele
How Trump pressures the world into burning more oil and gas: As COP30 nears, the US’s pressure to keep fossil fuels relevant may empower petrostates, potentially giving them more leverage at the UN talks. Bloomberg
Largest federal workers union calls for an end to the shutdown, putting pressure on Democrats: In a statement first shared with NBC News, the American Federation of Government Employees' president calls on Congress to pass a "clean continuing resolution."
Largest federal workers union calls for ‘clean’ bill to end shutdown: WP reports the American Federation of Government Employees, which represents more than 800,000 federal and DC government workers, said the shutdown is punishing the very people who keep the country running.
CNN: Democrats unflinching in shutdown strategy, blaming Trump with millions at risk of losing food aid
Bloomberg: Staffers feel shutdown pinch as House paycheck day approaches
The shutdown is a knife at a gunfight: The two sides may forge a deal, but what difference will it make to a president who doesn’t respect Congress at all? David Frum
Shutdown challenges Republicans’ vow to never end the filibuster: WSJ reports GOP senators gave their word to protect the 60-vote rule. ‘I’m praying to God they keep it,’ says former Sen. Joe Manchin.
Trump asks Supreme Court to let him fire the top copyright official: NYT reports an appeals court sided with the director of the US Copyright Office, saying her role is to work with Congress.
Americans caught between Trump's cruelty and Democrats' chaos: In a new focus group of 55 swing voters and a national survey of 800 general election voters and 516 voters in battleground House districts, both conducted with Normington Petts, we found an electorate caught between two unsatisfying extremes: the cruelty of Trump’s policies and the perception that Democrats can’t maintain order at the border. This research builds on our March poll and takes a closer look at how Americans view the One Big Beautiful Bill’s immigration provisions—and what messages best equip Democrats to push back. Sarah Pierce + Lanae Erickson
How Mamdani’s Brooklyn became the heart of the Democrats’ civil war: Progressives have turned the New York City borough into a battleground between the center and left wings of the party. WSJ
Zohran Mamdani leads New York mayoral race, rattling Democratic establishment: A week before the vote, the self-proclaimed socialist leads the polls after a savvy campaign on the cost of living. But his stance to the left of the party unsettles even his own camp, while questions linger over the funding of his social platform. Le Monde
Indiana Republicans call special session to redraw Congressional map: WSJ reports Republican and Democratic legislatures are hoping to tilt the US House their way in redistricting war.
MI-GOV: Republican US Rep. John James and Democratic Secretary of State Jocelyn Benson led the two major parties' primary fields for governor in fundraising over the last three months, according to disclosures due Monday.
Trump: I would love to run for third term: Telegraph reports Donald Trump suggested JD Vance and Marco Rubio could run for president in 2028 but did not rule himself out of the race. Teasing the possibility of an unprecedented third term, Trump said he would “love to” run again. Speaking to reporters on Air Force One en route to Japan during his tour of Asia, Trump said: “I would love to do it. I have my best numbers ever.”
Trump says a recent MRI scan was ‘perfect,’ and he’d ‘love’ a third term: NYT reports President Trump made the comments on the second day of his trip to Asia. The Constitution limits presidents to two terms, but Mr. Trump has suggested he might try to circumvent it.
Karine Jean-Pierre feels that Democrats were so mean to Biden that she is becoming an Independent.
‘CBS Evening News’ co-anchor John Dickerson leaving network: WSJ reports the 16-year CBS veteran is to step down at the end of the year.
Anxious and disillusioned: Being young in Trump’s America: Students in Bethlehem, Pennsylvania — where the FT is reporting over the next four years — reflect the angst of peers across the US. FT
Reuters: Fed poised to cut rates this week, with more easing likely on tap
America’s hottest new investment: Rare-earth companies: WSJ reports US and private financiers pour money into critical minerals, believing China won’t ever be a reliable supplier again.
Toyota to make hybrids in Vietnam, betting their time has come: Nikkei reports Japanese automaker to invest $360m to boost capacity.
NextEra Energy plans to restart a nuclear power plant in Iowa, primarily to supply Google data centers.
Google agrees deal to reopen US nuclear plant with NextEra: FT reports Duane Arnold Energy Center expected to start delivering power in 2029.
Advanced Micro Devices is teaming up with the US Energy Department to develop a pair of supercomputers at the Oak Ridge National Laboratory that will deploy the company’s artificial intelligence chips to seek breakthroughs in energy and scientific research.
Why big oil is missing out on the AI energy bonanza: A looming supply glut is weighing on giants from Exxon to Shell. Economist
Nvidia + Deutsche Telekom AG are preparing to announce plans for a €1 billion data center in Germany as part of a broader push to develop more infrastructure across Europe to power AI systems.
Qualcomm launches AI chips to challenge Nvidia’s dominance: WSJ reports shares in the semiconductor maker rose as much as 20% in Monday trading.
How artificial intelligence is transforming the defence industry: With the rise in hybrid threats and intimidating manœuvres from hostile powers, France has joined the race to develop intelligent weapons. From radars that use AI to exponentially increase their detection and reconnaissance capacities, to weapons with AI to help take decisions, to algorithms allowing for multiple drones and robots to operate together, the range of applications is wide, and the technology is developing at breakneck speed. AFP
Silicon Valley called — the 1990s are back: How today’s artificial intelligence boom is both different from, and similar to, what came before. Rana Foroohar
‘Do not trust your eyes’: AI generates surge in expense fraud: Business software groups warn that top AI models are increasingly being used to create ultra-realistic fake receipts. FT
The end of the rip-off economy: From finance and medicine to used cars, artificial intelligence is radically improving market efficiency. Economist
Meta moved its top metaverse executive to oversee AI products following hundreds of job cuts last week, a sign the company is still working to structure its teams even as it spends aggressively to compete in the heated artificial intelligence race.
Zuckerberg appoints former metaverse executive to boost AI efforts: FT reports Vishal Shah takes on key role after Meta AI video service Vibes overshadowed by OpenAI’s Sora.
JPMorgan offers staff AI chatbot to help write performance reviews: FT reports the move allows employees to use bank’s large language model to generate reviews from their own prompts.
Sequoia Capital invests in AI tool that could replace junior bankers: Rogo says its AI platform helps investment bankers work faster and smarter. Bloomberg
Amazon’s AWS shows signs of weakness as competitors charge ahead: Bloomberg reports that the company that invented the cloud business is widely perceived as trailing its rivals in artificial intelligence.
Amazon plans to cut corporate jobs in several key departments, including logistics, payments, video games, and the cloud-computing unit, according to people familiar with the matter. The terminations, expected as soon as Tuesday, could affect as many as 30,000 jobs, Reuters reported on Monday, citing sources.
Amazon to lay off up to 30,000 corporate workers: WSJ reports the job cuts would amount to roughly 10% of the online giant’s corporate workforce.
Elon Musk says AI research into ancient Rome will ‘rewrite history’: The Times reports the world’s richest man is financing a new age of archaeological projects that seek to use artificial intelligence to fill in knowledge gaps.
Elon Musk briefly launches a Wikipedia rival that extols his own vision: WP reports the right-leaning tech magnate is touting his own online encyclopedia as an unbiased alternative, but it went down after about an hour.
Wealthsimple hits $10-billion valuation milestone with $750-million financing: G+M reports online financial-services provider raises $750-million, becomes one of few Canadian tech companies to achieve milestone.
Delta Air Lines plans to start direct flights from Atlanta to Riyadh.
Domino’s Pizza shares soared after the Australian Financial Review reported that Bain Capital is considering buying the fast-food chain in a deal worth as much as A$4 billion ($2.6 billion).
‘Yellowstone’ creator Taylor Sheridan to leave Paramount for NBCUniversal: WSJ reports Sheridan’s hits for Paramount include ‘Tulsa King’ and ‘Landman.’ In addition to TV shows, he will make movies for NBCUniversal.
Telegraph: Sydney Sweeney wants to be the next James Bond
The office is back: A top NYC developer on the future of cities: Gary Barnett looks ahead at new skyscrapers, the rise of automation—and why an IKEA makes sense in Midtown Manhattan. WSJ
The secrets to Hermès’s reign as one of the world’s most valuable companies: It’s not all about the Birkins. Inside the 188-year-old house that has become the most durable brand in luxury—and the most radical. WSJ
Amazon's Prime releases trailer for 'unprecedented' Paul McCartney documentary: AFP reports music legend Paul McCartney is adding another string to his bow in his long and winding career, with the announcement Monday of a new documentary about his life after the Beatles.
Daily steps more beneficial in ‘one long walk’ not shorter strolls: The Times reports early death and cardiovascular disease are significantly lower in people who go walking for longer than 15 minutes, a study shows.
Inside Brian Kelly's messy firing at LSU: How it all unraveled so quickly in Baton Rouge: How did Kelly's firing extend to Louisiana's governor? Who's footing the buyout bill? LSU's chaotic situation is a product of several problems. Yahoo
+ “It’s the most Louisiana thing ever that the governor is directly involved in a decision over a football coach,” said one LSU influencer.
All the college football coaches are getting fired: LSU’s Brian Kelly becomes the latest exile in a historic early season purge. He’ll reportedly get $50 million plus to walk away. Jason Gay
Vikings QB Carson Wentz to undergo shoulder surgery, will miss rest of season.
What goes into making the Toronto Blue Jays home run jacket: ‘It has to be put together piece by piece’: The celebratory garment is designed in-house and constructed by a fan whose own tribute jacket caught the team’s eye. Toronto Star
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
A11. | October 27
Donald Trump’s foreign policy and the whole wide world: Journal writers discuss the Iran strikes, the Russia-Ukraine war, tariffs, Middle East peace prospects, and more. WSJ
Trump, long erratic on the world stage, reaches a new level: Whether because of his increasingly mercurial approach or despite it, President Trump has won some foreign policy victories in his second term. The question now is whether he can build on his record. NYT
The Trump supremacy: Opponents in disarray, allies in line, followers enthralled — the US president is already on his way to building a new world order. FT
The effort to court Trump abroad: Deals, flattery, and jet fighters: Lavish welcoming ceremonies and nominations for the Nobel Peace Prize are part of foreign leaders’ charm offensives when the American president comes to town. WSJ
Trump comes wooing after tariffs tilt Southeast Asia towards China: The Times reports the US president visited the region to preside over a peace deal, in a sign Washington is hoping to lure countries back from Beijing’s orbit.
They’re small, yellow and round — and show how Trump’s tariffs don’t work Michael Grunwald
Dependence on China for rare earths calls for a united front, which Trump has weakened: By unveiling restrictions on the use of these minerals essential to industry, Xi Jinping demonstrates that he has the means to dictate terms to the rest of the world. Europeans must do everything possible to secure their supplies of these components. Stéphane Lauer
US, China sound confident note after trade talks: Scott Bessent hails ‘very successful framework’ for Trump-Xi meeting as Beijing reports preliminary consensus on key issues. WSJ
US, China reach tentative trade deal, setting stage for Trump’s meeting with Xi: WP reports ahead of President Donald Trump’s meeting with Chinese leader Xi Jinping on Thursday, negotiators reached a framework for a trade agreement to avert additional 100 percent tariffs.
Trump and Xi to meet after ‘framework’ for trade deal agreed: The Times reports the leaders of the world’s two biggest economies are due in South Korea as both appear to have climbed down on threats of tariffs and trade curbs.
FT: US expects China to delay rare earth export controls as trade deal nears
A one-year reprieve from Chinese rare earth blackmail: Weekend talks eased tensions, but deep mistrust will continue to define the relationship. WP-Editorial
What we still get wrong about Trump’s approach to China: The US president’s “tough on China” reputation belies his interest in striking a deal with the nation, not decoupling from it. Bloomberg
GOP hawks feel the whiplash of Trump’s China policy: Ahead of Trump’s expected meeting with Chinese President Xi Jinping, some Republican lawmakers are trying to harden the president’s stance on Beijing. WP
CNBC: Boeing names Mandarin-speaking, ex-White House advisor as its new China president
Xi Jinping’s purges shrink ranks of China’s Communist elite—and boost his power: Nearly one in six officials who had Central Committee seats were absent from a major conclave, many of them now disgraced. WSJ
Xi Jinping's quest for absolute power: The new purges announced at the highest levels of the Chinese military reflect Xi Jinping's conviction that, in order to propel China to the top and confront rising tensions with the US, the era of reforms and openness is over. Le Monde-Editorial
Singapore’s prime minister warns of ‘messy’ transition to post-American order: Lawrence Wong says no other country can fill the vacuum left by the US. FT
How Trump’s perception of Japan collides with today’s economic reality: Japan was the genesis of President Donald Trump’s tariff-led approach to reshaping the global economy. When he lands in Tokyo, trade will again be on his agenda. WP
Japan has its first woman leader. Just don’t ask her about feminism: Sanae Takaichi’s rise marks a milestone, but women in Japan still struggle to enter politics, lead corporations, or share in some of its most revered traditions. Bloomberg
China’s Pokémon craze is stirring an anti-foreigner backlash in Japan: What began as a Happy Meal promotion ended in chaos and xenophobic outrage, revealing Japan’s growing tensions over immigration and tourism. Bloomberg
‘World Enemy No. 1’ review: The most fatal front: Germany’s 1941 invasion of the Soviet Union was the culmination of Hitler’s animus toward communism. But that ideological conflict was not the cause of World War II. WSJ
Reuters: Trump says he will not meet with Putin until he thinks there is a deal on Ukraine
The US throws sand in Russia’s war machine: Sanctions on top oil producers raise the costs of Ukraine conflict for Moscow. FT-Editorial
How Russia’s sanctioned Arctic gas found a Chinese loophole: The US and allies aimed to hobble Russia’s energy industry, but Moscow has found workarounds. WSJ
Putin says Russia now has nuclear-powered missile: NYT reports because of its power source, the Burevestnik can remain airborne far longer than other nuclear-armed missiles.
This movie makes nuclear war feel disturbingly possible: An interview with the A House of Dynamite screenwriter Noah Oppenheim and Tom Nichols. Hanna Rosin
Catherine Connolly, Irish reunification advocate, elected president: Le Monde reports the left-wing candidate secured 63.4% of the vote, edging her rival Heather Humphreys of Fine Gael, the centrist ruling party. The 68-year-old lawyer managed to unite Ireland's left to win this largely symbolic post.
Nigel Farage: Britain has had ‘too many unifiers’: The Reform UK leader on dismantling consensus politics, Britain’s future relationship with the EU, and deporting migrants “nicely.” Bloomberg
UK Chancellor of the Exchequer Rachel Reeves will seek to accelerate trade talks with the Gulf states during a visit to Saudi Arabia, as she tries to boost the country’s growth prospects ahead of her crucial budget.
Sudan army base in besieged El Fasher falls to rival militia: FT reports the paramilitary RSF took control after 19-month siege in which thousands died of starvation and massacres.
Milei’s free-market experiment hangs in the balance as Argentina Votes: WSJ reports the libertarian leader needs enough congressional seats to protect the agenda backed by Trump.
Milei’s overhaul of Argentina has another problem: He isn’t great at politics. The Libertarian president has stabilized the economy but lost political allies, run into scandals, and is fielding untested candidates. WSJ
Has Argentina really changed? Soon, we will find out: The US is betting $20 billion that with time and support, President Milei can fix Argentina’s economy once and for all. Greg Ip
Argentine President Javier Milei will meet with JPMorgan Chase CEO Jamie Dimon in Buenos Aires this week, according to three sources familiar with the matter.
CNBC: Trump says US cattle ranchers ‘don’t understand’ tariffs after some slam Argentine beef plan
+ President Donald Trump said US cattle ranchers “don’t understand” how they have benefited from his tariffs.
+ “They also have to get their prices down, because the consumer is a very big factor in my thinking, also!” Trump wrote on Truth Social.
+ Some ranchers — and Republican lawmakers — have openly criticized Trump’s proposal to import beef from Argentina to bring down prices for American consumers.
+ National Cattlemen’s Beef Association CEO Colin Woodall said that his organization “cannot stand behind the President while he undercuts the future of family farmers and ranchers.”
Fear grips a Caribbean nation in the shadow of US boat strikes: In Trinidad and Tobago, fishermen are staying closer to shore after attacks on alleged drug boats. WSJ
A mystery in Trinidad as bodies wash ashore after US strikes: The US campaign targeting what it says is drug trafficking from Venezuela has exposed Trinidad to the fallout: unidentified bodies with burn marks and missing limbs showing up in its territory. NYT
As US forces close in on Venezuela, lawmakers warn of expanding operation: The Trump administration has sent warships, fighter jets, and surveillance aircraft to the region as it wages what it says is an armed conflict against narcoterrorists. WP
The US warships off Venezuela aren’t there to fight drugs: The US says it is fighting drugs, but its warships off Venezuela tell another story about power, control, and regime change. Guillaume Long
Trump says he's hiking 'tariff on Canada' by 10% over Ontario government ad: CBC reports the Ford government planned to pull the ad Monday — after airing in the US during the World Series.
How one ad sent US-Canada trade talks into a tailspin: Negotiators had worked for weeks on a potential agreement to reduce Trump’s steel and aluminum tariffs. WSJ
Reagan vs. Trump on tariffs: The Gipper was a free trader, no matter what the current President says. WSJ-Editorial
Did Ronald Reagan ‘love tariffs’ as Trump claims? America’s 40th and 47th presidents both employed protectionist measures, but in vastly different ways. FT
The feisty Ontario leader who torpedoed negotiations with Trump—again: Ad criticizing tariffs was the latest example of Doug Ford’s disruptive role in US-Canada trade talks. WSJ
How Canada is dealing with its latest tussle with President Trump: Prime Minister Mark Carney is focusing on what the country can control, including looking for economic partnerships abroad, especially in Asia. NYT
Trump's rhetoric on tariffs ramps up pressure on Supreme Court: NBC News reports the president has frequently spoken about the potentially drastic consequences if the Supreme Court strikes down his sweeping tariffs, a view contested by his opponents.
How Trump barreled through DC’s bureaucracy to get his White House ballroom: The president realized his longtime dream by remaking a planning board and taking advantage of permitting oddities; ‘you have zero zoning conditions.’ WSJ
In defense of the White House ballroom: Donald Trump vs. the NIMBYs. WP-Editorial
Who is paying for Trump's White House ballroom? Full donor list revealed BBC
Ballroom blitz at the White House raises eyebrows: Trump’s vast refurbishment ignores questions of style and scale. Edwin Heathcote
It looks like the US has a sovereign wealth fund now: “It’s just amazing to watch,” one expert says, as the executive branch makes corporate deals. Bloomberg
MAGA lobbying firms are booming. This is where their money goes. Despite past campaign promises to “drain the swamp,” lobbying expenditures are at record highs. WP
The economy that’s great for parents, lousy for their grown-up kids: Many older Americans are financially comfortable, but they worry their adult children won’t achieve the same kind of economic stability. WSJ
There’s a reason electricity prices are rising. And it’s not data centers. It’s not AI. It’s not even data centers. WP
Keeping the House absent, Johnson marginalizes Congress and himself: The speaker’s decision to hold the House in an indefinite hiatus during the shutdown is his latest move to diminish the role of the legislative branch — and his own post. NYT
The lone House Democrat who thinks his party has the shutdown all wrong: Maine’s Jared Golden says his party is being pushed in the wrong direction by far-left groups. WSJ
Democrats keep falling for political fantasies. When will they learn? Democrats keep falling for charismatic newcomers and viral candidates — and it keeps costing them elections. Politico
Abigail Spanberger fights the Democrats’ image problem in Virginia: Governor’s race tests whether a ‘pugnacious centrist’ is the answer for an unpopular party drawn to the progressive left. FT
‘I want to win’: Inside Gavin Newsom’s plan for taking on Trump: Armed with a podcast, a ballot measure and tweets, California’s governor is spoiling for a fight with the president. Bloomberg
POTUS-2028: Steve Bannon told The Economist that there was “a plan” to circumvent the 22nd Amendment, which states that “no person shall be elected to the office of the president more than twice,” regardless of whether the terms are consecutive.
'You'll go down as a wimp:' Pence's never-before-published notes key evidence in case against Trump, book says: ABC's Jonathan Karl has the exclusive details in his new book, "Retribution." ABC News
What killed print media — and what died with it: The waning of newsprint is about cultural changes more momentous than digital publishing’s arrival. George Will
Condé Nast’s strategy for media’s new normal: Glam events and paywalls: Vogue parent wants to create ‘cultural moments’ as magazines face traffic declines and AI disruption. WSJ
It’s not enough to read Orwell: A new film argues that, in an era of rising authoritarianism, audiences have become too numb to the speculative force of 1984. Shirley Li
The ‘hands problem’ Holding back the humanoid revolution: Researchers face huge challenges in creating robotic hands equal to the real thing, but they’re getting closer. One big question: How many fingers? WSJ
Nuclear treaties offer a blueprint for how to handle AI: The lack of co-ordinated efforts to address the existential risk of superintelligence is astonishing and must change. Will Marshall
It’s not just rich countries. Tech’s trillion-dollar bet on AI is everywhere. As part of ‘AI decolonization,’ developing nations push Silicon Valley to build locally. WSJ
Are trampoline bunnies and dog podcasters the future of entertainment? One person’s AI slop is another’s viral hit. Bloomberg
Why every website you used to love is getting worse: TikTok and airlines have something in common with your search engine, your grocery app, and (increasingly) your car: They start out great, lock you in, and then quietly get worse while you keep using them. That very familiar decline now has a catchy name: “enshittification.” Sean Illing
Big Tech makes Cal State its AI training ground: Spurred by titans like Amazon and OpenAI, California State wants to become the nation’s “largest AI-empowered” university. NYT
OpenAI shunned advisers on $1.5tn of deals: Sam Altman tapped a handful of in-house dealmakers over external advisers and lawyers to design a huge web of infrastructure agreements. FT
‘I believe it’s a bubble’: What some smart people are saying about AI: A growing group of critics say we’re in an artificial intelligence bubble. Is it true? If so, how would we know? Bloomberg
Inside Oklo: The $20bn nuclear start-up without any revenue: Silicon Valley company with links to Trump administration rides wave of investor enthusiasm. FT
The steep curve to peak urban: The century from 1980 to 2080 will be a period of rapid urban expansion that strains housing and planning capacity around the world. Then comes population decline, and an uncertain future. Bloomberg
Boston Globe: Ropes & Gray opens Milan office to capitalize on private-equity growth
Novartis agrees to acquire Avidity Biosciences for $12 billion: WSJ reports Swiss pharmaceutical company says the purchase would complement its existing pipeline of treatments for neuromuscle disorders.
What happens when the US stops funding the science behind SpaceX? NASA’s shrinking budget threatens the public science behind SpaceX’s success, and it could weaken America’s ability to develop breakthrough technologies. Bloomberg
The counterintuitive economics of smoking: How cigarette manufacturers profit from quitters. Economist
FCA chief heads to Detroit to win support for car finance redress plan: Nikhil Rathi will speak to carmakers in the US industry capital amid fierce criticism of the FCA’s £11bn consumer compensation scheme for mis-sold motor finance. The Times
US risks losing more ground to China in EV race as investment tumbles: White House backing for petrol-based cars poses dilemma for many automakers. FT
Louvre heist: What we know about the two arrested suspects: One suspect was arrested at Paris's Charles de Gaulle airport en route to Algeria. Investigators are using DNA, fingerprints, and security footage to track the perpetrators. Le Monde
French police make first arrests in €88mn Louvre heist: One of the alleged burglars was trying to leave the country from Charles de Gaulle airport. FT
The Future of Truth by Werner Herzog — tall tales: The German filmmaker muses on truth, fiction, cyberspace, and human turpitude, in an irrepressible style. FT
Our favorite home offices: The best work spaces, from a minimalist sanctuary in Sweden to an experimental round study in Japan. NYT Mag
Agatha Christie’s first published work discovered after 120 years: The Times reports a poem by the Queen of Crime was published in a local newspaper in 1905, but red herrings in the authors biography meant it went undetected for 120 years.
Kennedy dynasty to be the new Crown for Netflix: The Times reports the streaming giant has found its new quasi-royal leads in the saga of the Kennedy family, with a historical drama starring Michael Fassbender.
They’re the best team in English soccer—and they score like a bunch of no-hopers: Arsenal has charged to the top of the Premier League by specializing in goals from set-plays, long viewed as cave man tactics and the preserve of the league’s weakest teams. WSJ
A trail of two cities: Cycling London to Paris off-road: Linking together disused railway lines, farm tracks and forest trails, Leadout Event’s new route has reinvented the classic cycling challenge. FT
Mouhamadou Fall, first French athlete to join Enhanced Games: 'For me, it's not doping, but a chance to learn more about the human body's limits': The French sprinter announced Thursday that he has signed up for the Enhanced Games, an event where doping is permitted – even encouraged. In an interview with Le Monde, the multiple French champion in the 100 m and 200 m explains his decision. Le Monde
LSU fires head coach Brian Kelly.
America’s best sports city: Nine compete for the crown WP
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
A11. | October 23
*** Ross Rant ***
China's soybean shift reveals the fatal flaw in Team Trump's trade policy
+ Once supply chains reorganize, they don't come back. American farmers are learning this lesson the hard way.
In 2024, China bought $12.6 billion in US soybeans. This year: $0.
The collapse exposes a fundamental misunderstanding of how modern trade works. While Washington treats soybeans as a bargaining chip, Beijing recognized them as what they actually are: an intermediate input in a tightly integrated agricultural-industrial supply chain. Crushing facilities process soybeans into animal feed and oil, sustaining livestock production and food security. Disrupt one node, and the entire system reorganizes—permanently.
Twenty years ago, China learned this lesson the hard way when it lost control of its soybean-crushing capacity in 2004. It spent two decades ensuring that vulnerability would never recur. The US is now discovering the same principle from the opposite side.
The economics of concentration
The math is unforgiving. China imports 100 million to 105 million tons of soybeans annually, accounting for 60% of global trade. US farmers cannot replicate that demand elsewhere. More than 90 countries export soybeans, but Brazil, the United States, and Argentina dominate. For China, a concentrated buyer, diversifying supply sources is straightforward. For dispersed US sellers, finding equivalent markets is impossible.
Trump's 2018 tariffs accelerated China's diversification, but the infrastructure was already in place. Chinese investment had financed the ports, railways, and logistics networks moving South American soybeans to Asian markets. When tariffs disrupted US-China trade, the supply chain rerouted. Beijing's retaliatory tariffs made American soybeans prohibitively expensive, and Chinese buyers did not return.
US farmers typically sell more than half their soybean exports between October and December, after Brazil's February-March harvest season ends. If Chinese buyers continue to be absent, the upcoming quarter will inflict severe damage.
The Argentina paradox
The contradictions in the US trade and tariff strategy crystallize in Argentina. Washington recently provided Buenos Aires with roughly $20 billion in financial aid to prevent it from drifting into China's orbit. Argentina responded by scrapping export taxes, instantly making its soybeans more competitive, and then sold them to China.
The episode reveals how the US treats trade as a bilateral issue, whereas in reality, it operates multilaterally.
Tariffs may protect final assembled goods and industries with high switching costs, but they backfire catastrophically for intermediate goods in flexible supply chains where buyers easily substitute suppliers. The current Team Trump US trade policy fails to recognize this essential distinction.
The post-Brexit parallel
The parallels with the United Kingdom's post-Brexit trade policy are striking. Both strategies feature grand rhetoric about sovereignty and leverage, yet they ignore how complex supply chains adapt to disruption. Both overestimate their indispensability and underestimate adjustment costs.
Jun Du, professor of economics at Aston University, frames the problem precisely: "Once supply chains reorganize, they never return to their previous form."
The lesson
In modern trade, control over supply-chain nodes matters more than control over raw materials.
China lost its crushing capacity in 2004 and restructured its entire import strategy to prevent recurrence. The United States is losing access to its largest export market because it failed to understand that supply chains, once reorganized, don't revert simply because tariffs change.
American farmers are paying the price for that miscalculation.
-Marc
*** A11. ***
How to run a global business in a re-globalised world: In the era of protectionist policies, business leaders need to build public sector trust. Hemant Taneja
Trade policy and US geopolitical strategy CSIS Pod
The US is trying to drive a wedge between Argentina and China: The South American country is relying on the US and Wall Street banks for a bailout. WSJ
Viceroy Bennett and US intervention in Argentina: A lobbyist hired by the SIDE intelligence services became executor of Trump’s will in Argentina. Secret meetings, legal troubles, and his partnership with businessman Leonardo Scatturice. BAT
Trump looking to quadruple beef purchases from Argentina despite GOP anger: Politico reports the White House is also rolling out a series of beef industry-friendly policies to boost the domestic supply long-term.
To make ends meet, Argentines sell their possessions: AFP reports a street market in a Buenos Aires working-class neighborhood bustles with desperate Argentines who have taken to hawking their belongings to make ends meet as the economy sputters.
The US struggles to break out from China’s grip on rare earths: The Trump administration is trying an array of unconventional measures to shore up US rare earths supplies. It remains uncertain whether the strategy will work. NYT
US Trade war slows China’s economy: Newsweek reports China’s economy expanded at 4.8 percent in the third quarter—the slowest rate in a year—according to data released on Monday by its National Bureau of Statistics (NBS), as ongoing trade tensions with the United States continue to weigh on growth.
China became Germany’s top trading partner again, overtaking America, which stole the spot from China last year. German trade with China totalled €163.4bn ($190.7bn) for the first eight months of the year.
Bloomberg: US considers broad software curbs on China, White House tays
China is demanding some US semiconductor firms submit sensitive information about their sales in the world’s largest chips market as part of its probe of American suppliers.
+ As Washington and Beijing struggle to come to a trade truce, China is stepping up its probes of US chip companies.
China’s chipmakers are cleverly innovating around America’s limits: They are pushing tools to the edge, scaling up and relying on fuzzy maths. Economist
Silicon Valley has China envy, and that reveals a lot about America: The fascination with China’s ability to build things America struggles with, from bridges to advanced tech, risks a dangerous miscalculation about what drives China. NYT
Xi’s purges reveal his insecurity: From surveilling and repressing Chinese citizens to firing and prosecuting potential rivals, Chinese President Xi Jinping seems able to rule only through fear. But fear is not a foundation for long-term stability, and the more Xi seeks to consolidate power, the more vulnerable his position becomes. Brahma Chellaney
Analysis: Xi Jinping's Fujian clique disappears from the PLA: Exit of pivotal military figures in charge of Taiwan strategy draws global attention. Nikkei
Taiwan is not for sale: America can make a good deal with China without abandoning the island. Marvin Park + David Sacks
Reuters: Taiwan plans deeper military ties with US to bolster security
Bloomberg: Taiwan is courting MAGA influencers to get Trump’s attention
Vance says he’s not in Israel to babysit Gaza truce and emphasizes partnership: NYT reports Vice President JD Vance said recent visits by top American officials were to monitor the cease-fire, but not “in the sense of, you know, you monitor a toddler.”
WP: Vance says Israel not a ‘vassal state’ as criticism swirls around Netanyahu
NBC News: Netanyahu calls US-Israel relationship a ‘partnership like never before’ under Trump
A US plan splits Gaza in two—one zone controlled by Israel, one by Hamas: WSJ reports the US and Israel are considering a plan that would divide Gaza into separate zones controlled by Israel and Hamas, with reconstruction only taking place on the Israeli side.
How Israel won the war – and lost the PR battle: The Jewish state has won. But at what cost? Ben Domenech
Can Trump contain Israel’s hard right? Israel’s extremists aren’t giving up on settling Gaza. Trump’s regional agenda depends on restraining them. Yair Rosenberg
AP: Trump is expected to host Saudi Crown Prince Mohammed bin Salman next month, AP sources say
Trump puts Putin talks on hold as Kremlin launches deadly new attacks on Ukraine: NBC News reports at least six people were killed overnight shortly after President Donald Trump said he didn't "want to have a waste of time" holding a summit with the Russian leader.
Zelensky says strike on kindergarten shows Putin isn’t serious about talks: NYT reports President Volodymyr Zelensky of Ukraine said an assault by Russia, hours after President Trump put off a meeting with President Vladimir Putin, showed more pressure was needed.
AFP: Zelensky seeks fighter jets deal on Sweden visit as Russian strikes slam Ukraine
Moscow Times: Kremlin slams ‘gossip and speculation’ surrounding Putin-Trump summit
Reuters: Zelenskiy says Trump's call to freeze current frontlines is 'good compromise'
Ukraine strikes Russia with British Storm Shadow missiles: The Times reports Kyiv says attack hit key plant manufacturing ‘gunpowder, explosives and rocket fuel.’
US lifts key restriction on Kyiv’s use of European long-range missiles: WSJ reports the move coincides with a Trump push to pressure Moscow into talks on ending the war and to withhold US Tomahawk missiles from Ukraine.
US imposes substantial new sanctions on Russian oil giants: WSJ reports the measures against Lukoil and Rosneft come as negotiations over ending the war in Ukraine have stalled.
Fighting their own country: Hundreds of thousands of Ukrainians have been forcibly conscripted by Russia: Moscow is pursuing a policy of forced Russification and militarization in occupied territories, aiming to turn the local population into soldiers. These Ukrainians account for one quarter of the prisoners of war held by Kyiv. Le Monde
From revolutionaries to mercenaries: Cubans fight for Russia in Ukraine: Arturo McFields Yescas writes that Russia has been using Cuban mercenaries since 2023, but it has stepped up its use in recent months. Cuban soldiers are familiar with the weapons, trained and paid cheaply, reducing Putin’s political cost to zero. No one in Moscow complains about the deaths of foreign soldiers.
United 24: Romania scrambles fighter jets as Russian drones strike near Danube border with Ukraine
Europe’s spies are learning to trust each other — thanks to Trump: Politico reports doubts over transatlantic intelligence-sharing is bringing European intelligence agencies closer together.
European defense tech companies are expected to receive $2.3 billion in venture capital funds this year, up from $525 million in 2021, prior to the war, according to Dealroom.
How Norway’s war profiteering could help Ukraine: As the European Union tries to put together a large loan for Ukraine, sovereign guarantees and the risk they pose to member states' credit ratings have become a stumbling block. Fortunately, having raked in tens of billions of dollars from the fallout of Russia's invasion, Norway could break the impasse. Håvard Halland + Knut Anton Mork
The road shoring up NATO’s ‘Achilles heel’ corridor to the Baltics: The Times reports troops can now be moved quickly to reinforce the Suwalki Gap, the slender Polish-Lithuanian border, against any Russian move toward the Baltic states.
King Charles and Queen Camilla arrive in Rome to pray with Pope: The Times reports the visit to Italy will include a landmark service, the Vatican’s first joint prayer with a British monarch since before Henry VIII’s Reformation.
King and Queen land in Rome to visit the Pope: Telegraph reports monarch set to become first to pray with the head of the Catholic Church since the Reformation.
Sarkozy taunted in prison by inmates vowing revenge for Gaddafi’s death: Telegraph reports videos show prisoners shouting insults towards the ex-French president’s solitary confinement cell.
Sarkozy will be protected by two bodyguards while in prison: Le Monde reports Interior Minister Laurent Nuñez said ex-president Nicolas Sarkozy, who was incarcerated on Tuesday after being convicted of criminal conspiracy, would have his pre-existing security detail 'maintained in detention.'
French Greens leader announces 2027 presidential bid: Le Monde reports Marine Tondelier has announced her candidacy, presenting herself as 'peacekeeper of the left.'
More French voters leaning to the far right, poll shows: Marine Le Pen's far-right Rassemblement National party is well ahead in voter preferences, according to the 13th annual 'French Fractures' survey by Ipsos for Le Monde, the Jean Jaurès Foundation, CEVIPOF, and the Montaigne Institute. Gilles Finchelstein
Germany: Far-right lawmakers accused of spying for Russia: DW reports that lawmakers from the AfD in Thuringia have been charged with attempting to obtain sensitive data for Russia through parliamentary inquiries. AfD called the allegations "bizarre conspiracy theories."
India invites Carney to New Delhi as relations warm and talks turn to a free trade pact: G+M reports that the Indian envoy says bilateral trade holds the potential of $ 50 billion annually.
Mark Carney’s budget to outline Canada’s path forward, including boosting non-US exports, insider says: Carney is expected to cast looming federal spending cuts as “responsible choices,” a source says. Toronto Star
US truck maker Paccar lays off 300 workers in Quebec ahead of tariffs: The Toronto Star reports that Paccar Inc. is laying off 300 more factory workers in Quebec due to a 25 per cent import tariff imposed by the US next month.
American truck maker to end Canadian production of vehicles sold in US, union expects 300 layoffs: G+M reports the move comes ahead of a 25% US tariff on trucks next month and will affect the company’s Quebec plant in Sainte-Thérèse.
Chinese fentanyl kingpin with 20 aliases captured in Cuba: Trump blamed Chinese gangs for the US drug crisis — Zhi Dong Zhang could prove him right. The Times
CBS News: US strikes 8th alleged drug vessel, this time on the Pacific side, killing 2 people on board
US strikes boat in Pacific, expanding operation against drug running suspects: NYT reports it was the eighth known strike, and the first outside the Caribbean, in the Trump administration’s campaign against what it says are boats carrying drugs bound for the United States.
+ America’s Coast Guard carried out another lethal strike on an alleged drug-carrying boat, this time in the Pacific Ocean, in international waters near Colombia.
Trump, Colombian leader trade threats as US strikes boat in Pacific: AFP reports Donald Trump and Colombian President Gustavo Petro traded threats on Wednesday as the United States announced its first strike on an alleged drug-smuggling boat in the Pacific Ocean, killing two.
Trump beats the drums of war for direct action in Venezuela: The administration has surged warships, planes, and troops to the Caribbean for drug interdiction. Some see the ultimate goal as toppling Venezuelan President Nicolás Maduro. NYT
Trump is courting catastrophe in Venezuela: As Donald Trump takes a victory lap — almost deserved — over the tentative cease-fire and peace deal his administration negotiated between Israel and Hamas, it is easy to forget about the regime-change war America might be fomenting in Venezuela. NY Mag
American farmers are hurting. Trump's trade war is making it worse: This is a bitter harvest season for many American farmers. There's nothing wrong with their bountiful crops. But even as grain elevators overflow with freshly picked corn and soybeans, farmers are losing money on every bushel. And there's not much relief in sight. Economist Shawn Arita of North Dakota State University says the crop sector is being hit by a "triple whammy." NPR
The average cost of a family health insurance plan is now $27,000: WSJ reports that higher spending on chronic diseases, weight-loss drugs, and hospital bills helps drive the increase.
Fortune: The ‘quiet alarm bell’ on US health costs: Employers are backed into a corner, and workers are paying the price
‘Finances are getting tighter’: US car repossessions surge as more Americans default on auto loans: Guardian reports Wall Street sounds alarm over strain throughout car lending market as experts warn of potential risks for broader economy.
BI: It's not just Florida. Real estate boomtowns are going bust.
Fortune: Corcoran Group CEO says Gen Z’s housing market struggles mirror what boomers faced 30 years ago: ‘Stop buying Starbucks coffee,’ she advises
WP: Millions may lose SNAP food stamp benefits if shutdown continues
+ Rep. Marjorie Taylor Greene tells Semafor that if her party can’t keep its promise to bring down the cost of living, it will pay the price in next year’s midterm elections.
As shutdown drags and Trump flexes, Congress cedes its relevance: “It’s like we have given up,” one Republican lawmaker said. NYT
America’s government shutdown is its weirdest yet: It is oddly tolerable for Democrats and Republicans, at least for now. Economist
Can the White House's flood-the-zone social strategy win the shutdown? President Trump’s team is trolling Democrats harder than ever during the shutdown. It's a page stolen from his campaign and his own online habits. MSNBC
NYT: White House changes course and will demolish entire East Wing
Trump said he wouldn’t touch the East Wing. Then he tore it all down. NYT reports that President Trump initially said the ballroom construction would not affect the East Wing. The White House now says it was cheaper and more structurally sound to demolish it.
Trump’s East Wing destruction echoes his tactics at Mar-a-Lago and Trump Tower: Miami Herald reports similar to the rule-breaking tactics he used when pushing through changes to Mar-a-Lago in Palm Beach and building his Trump Tower in New York, Trump’s sudden and dramatic White House overhaul has been made possible by his disdain for the rules that have protected Washington’s cohesive design. To date, he hasn’t submitted plans for review to the National Capital Planning Commission, which oversees renovation and additions to the federal buildings in the capital, including the president’s historic residence.
NY Mag: Trump says demolished White House East Wing was ugly anyway
+ “You know, the East Wing was not much,” Trump mused before the press in the Oval Office. “It was not much left from the original. It was, over the course of 100 years, it was changed, the columns were removed, it was a much different building. Then a story was added on in 1948, 1949. There was a story added on which was not particularly nice. And the building was very, very much changed from what it was originally. It was never thought of as being much. It was a very small building.”
WP: President defends East Wing demolition, raises ballroom price to $300 million
The White House didn’t need a Mar-a-Lago makeover: Call it the billionaires’ ballroom. Nia-Malika Henderson
Can anyone stop Trump’s teardown of the East Wing? Many preservationists fear the answer is no. A pro-Trump review board is expected to approve the president’s planned 90,000-square-foot ballroom. WP
Why Trump turned to the sewer: The president’s disturbing, excremental propaganda campaign. Anne Applebaum
House Republicans refer Obama CIA Director John Brennan for criminal prosecution: USA Today reports Committee Chair Rep. Jim Jordan (R-OH) said Brennan lied to Congress about the investigation into whether Russia intervened in the 2016 election to help Trump.
Holy warrior: Pete Hegseth is bringing his fundamentalist interpretation of Christianity into the Pentagon. Missy Ryan
Pete Hegseth has ‘lost respect of generals’: Military leaders gave away little reaction in Quantico. Now, senior officers have raised concerns. The Times
Fortune: Senate Democrats demand top Trump advisor Steve Witkoff provide details on crypto investments, lack of divestment
DET-MAYOR: Detroit City Council President Mary Sheffield (65%) has a 51-percentage point lead over the Rev. Solomon Kinloch Jr. (14%) in the mayoral race among 500 likely voters, according to a Detroit News and WDIV-TV poll released Wednesday.
Detroit and its outgoing mayor offer a playbook for big-city comebacks: Zohran Mamdani could learn a lot from Mike Duggan. WP-Editorial
Trump tells allies Mamdani can’t be beat in New York mayor’s race: WSJ reports in private conversations, the president says the front-runner’s lead appears insurmountable.
Sen. Jeff Merkley warns 'tyranny has arrived' in marathon floor speech protesting Trump: NBC News reports the Oregon Democrat held the Senate floor for more than 22 hours.
Indiana Republicans don’t have votes to back Trump’s redistricting, Senate leader spox says: Politico reports the news comes just days after President Donald Trump held a phone call with reluctant members.
AP: Maine Senate candidate Platner says tattoo recognized as Nazi symbol has been covered
Oops, I’ve had a Nazi tattoo for 18 years: Will Democrats keep accepting a Senate candidate’s excuses? WSJ-Editorial
John E. Sununu jumps into New Hampshire Senate race: Politico reports he has been in talks with the White House about his campaign.
Pelosi hasn’t announced her 2026 plans. A top contender is tired of waiting. NYT reports Scott Wiener, a Democratic state legislator, says he can’t afford to keep deferring to Representative Nancy Pelosi.
The latest redistricting salvo: North Carolina gerrymanders out House Democrat: Politico reports the map will likely face legal challenges, similar to efforts in Texas and Missouri.
How Obama maneuvered behind the scenes to fight Trump on redistricting: The ex-president’s involvement reflects the deep anxieties he has about Trump’s agenda and has propelled him into a more political, public-facing role than he envisioned. NYT
Democratic donors sit on sidelines as party schism persists: WSJ reports Republican National Committee had $86 million in cash reserves at start of October, compared with $12 million for its Democratic counterpart.
2028-POTUS: Sen. Cory Booker (D-NJ) is keynoting a major New Hampshire Democrats’ fundraising dinner on Nov. 14, the state party said Wednesday.
Fortune: Walmart is determined to win the Thanksgiving meal value wars with a $40 dinner for 10 people
Why everything from perfume to soap smells like food now: As demand for products scented like vanilla, pistachio, and other edible indulgences soars, some GLP-1 users say there’s a link to their changed eating habits. Bloomberg
Erie Canal, here’s to your 200th. Thanks for transforming America. The canal’s 363 miles, dug by human muscle, aided by improvised cleverness, helped build a nation. George Will
Double-decker Eurostar trains to roll into London: The Times reports Channel Tunnel passenger train operator announces €2 billion deal for 50 new Alstom Avelia Horizon trains.
Eurostar plans double-decker trains as rivals eye Tunnel: DW reports that Eurostar, the monopoly operator of the Channel Tunnel connecting the UK to the continent, has ordered 30 French-made "Celestia" trains, with an option for 20 more. The expansion comes as rival firms eye the use of the line.
Jamie Dimon wants everyone in the office. Is a $3 billion building the answer? The CEO of JPMorgan Chase spent six years putting his stamp on a shiny new headquarters, a skyscraper that he hopes will revive the glory of the office. WSJ
AI not a reliable source of news, EU media study says: AFP reports artificial intelligence assistants such as ChatGPT made errors about half the time when asked about news events, according to a vast study by European public broadcasters released Wednesday. The mistakes included confusing news with parody, getting dates wrong or simply inventing events. The report by the European Broadcasting Union looked at four widely used assistants: OpenAI's ChatGPT, Microsoft's Copilot, Google's Gemini, and Perplexity.
WSJ: Meta cuts 600 jobs in AI division
+ @sebs_tweets: Amazon Allegedly Replaced 40% of AWS DevOps With AI Days Before Crash. Make of that what you will.
Amazon testing new warehouse robots and AI tools for workers: WSJ reports the retail giant invests in technologies to help it ship ever more packages with less human labor.
Samsung takes on Apple, Meta with AI-powered extended reality headset: Nikkei reports the South Korean company readies AI glasses next, as the market moves away from bulky devices.
CNBC: GM plans to launch eyes-off driving, Google AI, and other new in-vehicle tech by 2028
+ General Motors said the conversational Google Gemini artificial intelligence will begin rolling out in its vehicles next year.
+ In the next three years, the automaker also plans to launch a new system that lets drivers go hands-free and take their eyes off the road, but still take control of the vehicle when they want.
+ The company announced other tech initiatives as part of its “GM Forward” event in lower Manhattan.
Huge AI data centers are turning local elections into fights over the future of energy: For the past two decades, data centers were considered some of the most boring infrastructure in tech—big, boxy buildings that quietly stored and processed information for websites, email, and cloud computing. They rarely drew public attention, much less became a campaign issue. Fortune
The fallout from the AI-fuelled dash for gas: A supply crunch in giant turbines for gas-powered plants threatens environmental and geopolitical consequences. FT
Schneider Electric’s CEO on how he’s rebuilding the 189-year old energy giant for the AI era Fortune
Harry and Meghan join AI pioneers in call for ban on superintelligent systems: Guardian reports Nobel laureates also sign letter saying ASI technology should be barred until there is consensus that it can be developed ‘safely.’
Steve Bannon and Meghan Markle among 800 public figures calling for AI ‘superintelligence’ ban: Politicians, corporate bosses, tech experts, celebrities, and religious leaders call for ‘prohibition’ on advanced AI systems. FT
OpenAI prioritised user engagement over suicide prevention, lawsuit claims: FT reports family of teen who took his own life after ChatGPT use alleges chatbot maker intentionally weakened protections.
Reddit sues AI search engine Perplexity for scraping its data: FT reports social media group claims the start-up harvested user conversations to train its artificial intelligence models.
DeepSeek’s surge in Africa reveals China’s AI power grab: By making AI cheaper and less power-hungry, DeepSeek has put the technology within reach of millions of people. Bloomberg
Hollywood is having an existential crisis over AI – and a Toronto company is at the heart of it: Generative AI is coming to Hollywood. Toronto-based Moonvalley, which brings together nerds and creatives under one roof, is hoping its ‘clean’ model – trained only on licensed content – will be a blockbuster. G+M
Andreessen Horowitz lines up $10bn for next wave of tech bets: Silicon Valley group seeks $6bn for growth fund, $3bn for AI deals, and $1bn to back US defence tech start-ups. FT
Is the flurry of circular AI deals a win-win—or sign of a bubble? How round-trip deals could echo history and hit a wall. WSJ
Jaguar cyberattack the UK's most expensive to date: study: DW reports factories shut for over a month, and suppliers suffered in particular. A report puts the costs at around $2.5 billion, making it the most economically damaging cyber event ever to hit the UK.
DW: Louvre Museum reopens in Paris after jewel heist
Surveillance camera pointed the wrong way allowed Louvre heist: WSJ reports officials say an outdated surveillance system left the world-famous museum in Paris vulnerable despite years of warnings.
Louvre thieves carjacked truck-mounted lift nine days before heist: Telegraph reports two men threatened driver before making away with rental vehicle and cloning number plates for raid.
Following the Louvre heist, the museum's director admits 'this theft was not inevitable': Le Monde reports that three days after the spectacular theft of eight French crown jewels, the president and director of the museum appeared before the Sénat's culture committee for nearly three hours.
America’s worst time zone: Where the clocks are off in both directions. Ian Bogost
Stellan Skarsgård knows best: The self-proclaimed “nepo daddy” is at the top of his game as a narcissistic patriarch in Sentimental Value. NY Mag
G-League guard London Johnson has committed to Louisville, a source tells @On3sports. The 21-year-old floor general spent last season in the G League with the Maine Red Claws and Cleveland Charge.
+ @NicoleAuerbach: Now official: College athletes and school staff can bet on pro sports, beginning on Nov. 1. All three Divisions have voted to approve the change, per the NCAA.
NHL deal with Kalshi, Polymarket adds to pressure on sports-betting companies: WSJ reports licensing agreement is first of its kind between a major US pro sports league and prediction markets.
Baseball has a new evil empire: WSJ reports that with a record $350 million payroll and a roster stacked with high-priced stars, the Los Angeles Dodgers have looked close to invincible as they close in on back-to-back championships.
Doug Ford accuses Ticketmaster of ‘gouging the people’ after Jays World Series tickets soar in price: Toronto Star reports resale ticket prices for the World Series games at Rogers Centre have skyrocketed, with lower bowl seats going for as much as $10,000.
New York Giants become most valuable franchise after Koch stake: Bloomberg reports the Giants deal was struck at a $10.3 billion valuation, making the franchise the most expensive team in the world, and the Patriots hit $9 billion, according to people familiar with the matter. The 49ers reached $8.6 billion, a similar valuation after a stake sale earlier this year, the people added, asking not to be named, discussing private information.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal