*** Ross Rant ***
The Turkish football scandal isn't about football
Turkey's football gambling crisis is unprecedented. 300 players banned, entire leagues suspended, and 150 referees implicated. This looks like a sports story, but it is an economic story.
It's actually a case study in institutional collapse under economic pressure. When inflation erodes purchasing power and trust in institutions weakens, informal economies flourish.
Turkish referees and lower-tier players weren't simply greedy. They were responding rationally to a cost-of-living crisis that made side income essential. The betting site at the center of the scandal, Misli, was itself a league sponsor controlled by associates of the football federation's former head.
This pattern extends beyond Turkey.
MLB pitchers now face charges for pitch manipulation tied to sports betting. US prediction markets have seen sports contracts surge past political and financial categories. The common thread: legalized gambling creates systemic vulnerabilities in institutions already strained by economic and political pressures.
For global companies, the lesson isn't about sports integrity, it's about recognizing when economic stress transforms institutional risk. When employees, contractors, or partners face financial pressure in markets with weak governance, compliance frameworks built for stable conditions fail predictably.
Executives should audit exposure in markets where three factors converge: high inflation, weakened institutions, and newly legalized vice industries.
The question isn't whether your sector faces gambling-specific risks. It's whether economic pressure is creating incentives for institutional participants to operate outside formal rules—and whether your compliance architecture can detect it before prosecutors do.
Moral crises are usually economic crises first.
—Marc
*** Caracal Daily ***
China can’t afford to ignore its army of gig workers: Pivoting to a tech-driven growth model after the collapse of the property sector is a sensible move for China. The strategy has helped Beijing win a trade truce with Washington. But it may take years for the country’s industrial giants to mature enough to create enough jobs. Juliana Liu
China is priming its people and the world for a new pressure campaign on Taiwan: Beijing’s strategy, known as ‘the pen and the gun,’ employs a domestic media campaign and aggressive rhetoric toward Taipei’s friends. WSJ
Fears grow Japan-China spat may spiral into worst crisis since 2012: Observers see parallels with freeze in relations over disputed Senkaku Islands. Nikkei
US ‘has Sanae Takaichi’s back’ in Japan’s escalating row with China: Ambassador offers Japanese PM ‘unshakeable’ support after Beijing imposes economic measures. FT
Bloomberg: US-China rivalry to persist despite trade truce, Singapore Says
+ Fierce competition between the US and China will continue, said Singapore Prime Minister Lawrence Wong, despite a recent meeting between the two leaders that created an opportunity for the two economic superpowers to engage and de-escalate.
+ The guardrails will ensure the rivalry does not slide into a full decoupling, or worse confrontation and conflict, Wong said, and the US and China reached a detente at a summit in South Korea in October.
+ Singapore will engage "issue by issue" and through the lens of Singapore's national interest, Wong said, adding that the country does not have to choose between the two powers.
The Pentagon’s missing China strategy: Washington still lacks a credible military plan for deterring Beijing. Seth G. Jones
A Chinese firm bought an insurer for CIA agents - part of Beijing's trillion dollar spending spree BBC
Bloomberg: US accuses four of smuggling advanced Nvidia chips to China
North Korea forges closer ties with Russia, China in quest for new power bloc: A year after sending troops to Ukraine war, Pyongyang's reward seen as political, not economic. Nikkei
Axios: Zelensky agrees to negotiate on Trump's peace plan for Ukraine
Ukraine says it received 'draft plan' from the US to end war: Le Monde reports Washington officially presented a 'draft plan' to Volodymyr Zelensky, but neither side has divulged details of the proposal. Zelensky's office said he expected to discuss the points with Donald Trump in the coming days.
Ukraine fears a US pressure campaign to accept the peace plan drawn up with Russia: FT reports Trump pushes Kyiv to make major concessions on land, size of armed forces, and weapons.
US delivers peace plan for Ukraine, sparking fears of ‘capitulation’: WP reports Kyiv’s European partners said they should be involved in proposals for the security of Ukraine and Europe, indicating they hadn’t even been briefed on the plan.
White House’s Ukraine peace plan draws pushback: European officials expressed concerns about any proposal negotiated without Ukraine. WSJ
Ukraine and Europe chafe at being excluded from US-Russian peace plan: NYT reports some in Kyiv expressed confusion over the Trump administration’s multiple diplomatic tracks as Washington tries to revive negotiations.
A terrible American-Russian proposal to end the war in Ukraine: Steve Witkoff’s “peace deal” looks like a Russian wish list, and Ukraine is not biting. Economist
Ukraine peace plan: How seriously should we take the proposed deal? The 28-point plan, drawn up by officials in Russia and Steve Witkoff, the US envoy, would force the country to cede land to Moscow and has been widely criticised. The Times
Why Europe can’t go it alone on Ukraine: The continent cannot afford to fund Kyiv’s war effort. Owen Matthews
The surreal 45-day trek at the heart of NATO’s defence: Europe wrestles with crumbling bridges, narrow tunnels and red tape as it plans how to move an army eastward. FT
French general: We must be ready to ‘lose our children’ in war: Fabien Mandon, the new head of the armed forces, has caused an outcry by claiming his countrymen lacked the ‘strength of soul’ needed for conflict with Putin. The Times
Bloomberg: EU warns its ties to China hamper ability to punish Russia
+ The European Union's deep economic ties to China are constraining its ability to pressure Beijing over Russia's war in Ukraine, the bloc's top diplomat said.
+ The EU's high representative for foreign affairs, Kaja Kallas, said China "might also hurt you, and that's the problem" if the EU is not willing to pay the price that China is going to impose.
+ Kallas encouraged allies to confront China together, noting that the US, UK, Australia, Japan, and others are also affected by Beijing's actions.
Ukraine enlists civilians in its hunt for Russian drones: In response to an ever-evolving and increasingly large-scale aerial threat, Kyiv is building a complex air defense system, featuring innovative, low-cost surface-to-air solutions that can be operated by civilians. Le Monde
Ukraine's grain sector is facing increasing pressure due to war-related disruptions and adverse weather conditions, with power shortages, logistical challenges in wheat production, and significant harvesting delays straining corn supply chains nationwide.
European sulfur and sulfuric acid producers are facing an affordability crisis as sulfur feedstock costs surge, prompting some facilities to consider closures and a shift in regional trade patterns.
US sanctions loosen Russia’s grip on Serbia by forcing sale of oil company: WSJ reports the Abu Dhabi National Oil Company is in talks to buy NIS after its energy imports were halted by Trump administration enforcement.
Indian conglomerate to stop Russian oil imports amid pressure from Trump: WP reports Thursday’s announcement by Reliance Industries that it had stopped importing crude oil from Russia was a seemingly significant concession to Washington.
How tiny details expose Putin’s location: President keeps identical offices across Russia to obscure movements - but small clues give him away. Telegraph
‘Too little, too late’: Damning report condemns UK’s COVID response: Report on handling of pandemic contains stinging criticism of ‘toxic and chaotic’ culture inside Boris Johnson’s No 10. Guardian
+ ‘Chaotic and indecisive’: Key findings of report on UK’s Covid response under Tories
+ Dominic Cummings ‘poisoned the atmosphere’ of Boris Johnson’s No 10, COVID inquiry finds
23,000 died because government COVID response ‘too little, too late’: The Times reports an excoriating report by the UK COVID-19 inquiry says Boris Johnson failed to appreciate the calamity facing the UK in early 2020.
Rachel Reeves’ gambit: A year after her last bombshell Budget, the chancellor is once again mired in political chaos. Could the fallout consume both her and Sir Keir Starmer? FT
Bloomberg: UK to create new fast-track residency path for high-earners
+ The UK government has unveiled a new fast-track path to residency for high-earners, with visa-holders earning more than £125,000 allowed to apply for indefinite leave to remain after three years.
+ The quicker route to residency would also be open to entrepreneurs who hold Global Talent and Innovator Founder visas, while those earning salaries between £50,000 and £125,000 would have to wait five years.
+ Applicants for indefinite leave to remain must have a clean criminal record, paid payroll tax contributions, owe no debt to the state, and proven English-language proficiency, with penalties added for certain offenses, such as claiming benefits.
Danish PM’s dismal polling shows limits of right-turn on migration: Mette Frederiksen’s gamble on tough asylum policy backfires as socially liberal urbanites and rural voters abandon her centrist party in local elections. The Times
How Spain is still wrestling with Franco’s legacy 50 years later: The dictator’s Valley of the Fallen, which contains the remains of thousands of soldiers, has returned to the heart of political debate. The Times
'The Nuremberg trials mark a seminal moment that put an end to the impunity of heads of state': On November 20, 1945, in the southern German city of Nuremberg, a historic trial began for around 20 top Nazi officials. Historian Sylvie Lindeperg recalls how the event became a major milestone for international justice. Le Monde
Bloomberg: Trump calls Saudi Arabia a major non-NATO ally in boost to MBS
US and Saudi Arabia reach deal for rare earths facility in Gulf kingdom: FT reports mining group MP Materials will share minority stake in joint venture with US government to build and operate facility.
BBC: UK will not tolerate Chinese spying, minister says after MI5 alert
Trump’s little British helpers: Nobody should be surprised that the US president has the BBC in his sights. Edward Luce
Unlocking Africa’s economic potential for faster long-term growth: Faster growth in Africa is needed to increase upward economic mobility opportunities for the continent’s rapidly expanding population.
S&P Global
Demographic discontent across Africa is a ticking time bomb: The continent’s young are losing faith in gerontocratic leadership. David Pilling
How South Africa’s underworld infiltrated its government: A televised inquiry probing the nexus of rogue police, officials, and gangsters has electrified the country. FT
South Africa claims US has had ‘change of mind’ on G20 boycott: FT reports Washington to send official to closing ceremony after Trump administration previously refused to take part in summit.
Trump’s total boycott of G20 casts shadow over its future: ‘It’s bleak,’ says senior European diplomat involved in preparations for summit. FT
Turkey will host COP31 in 2026 after reaching an agreement with Australia.
COP30 overshadowed by trade tensions: 'How to collaborate on decarbonization while protecting economic interests': The issue of international trade has taken on unprecedented importance in the global climate negotiations currently underway in Brazil. Disagreements center on the European carbon border adjustment mechanism. Le Monde
Lula at climate summit: US might not be gone for good: Politico reports Brazil's leader said he hopes “one day to convince the president of the United States that the climate crisis is serious” — and to join a phase-out of fossil fuels.
Jailhouse shock: Brazil coup monger Bolsonaro finally faces life behind bars: Guardian reports the former president’s far-right supporters have discovered a new interest in prison conditions as incarceration looms.
New US ambassador slams Chile’s president for criticizing Trump: Bloomberg reports Chilean President Gabriel Boric’s recent criticism of Donald Trump was “disappointing” and shows how far bilateral relations “have fallen,” the newly arrived US ambassador said at his first press conference.
+ US Ambassador to Chile Brandon Judd said Chilean President Gabriel Boric's criticism of Donald Trump was "disappointing" and shows how far bilateral relations "have fallen".
+ Judd stated that Boric's comments were unwarranted, given that the US is at "the forefront of dealing with environmental issues", and that they hurt the Chilean people in ongoing negotiations.
+ Judd expressed disapproval of Boric's attitude and views on Trump, saying that if Boric has concerns, he should "pick up the phone" and talk to US officials, rather than criticizing them publicly.
Cuba is heading for disaster, unless its regime changes drastically: An upheaval beckons in an increasingly miserable country. Economist
US ran a war game on ousting Maduro. Venezuela fell into chaos. An official US government exercise during President Trump’s first term forecast turmoil and potential violence in a post-Maduro Venezuela. NYT
Democrats raise concerns over allied curbs on intelligence sharing: NYT reports Britain’s limits on sharing information reflect growing unease among partner nations over the legality of the US strikes on boats purportedly carrying drugs.
Holiday hiring slows, frustrating job seekers: NYT reports retailers are adding fewer of the seasonal roles that many Americans rely on to make ends meet.
Dick Cheney and the fruits of regime change: He has largely proved right about Iraq and the broader Middle East. Barton Swaim
Cheney remembered as ‘highly disciplined mind’ at funeral: Former President George W. Bush and all living former VPs attended; Trump, Vance weren’t invited. WSJ
Cheney’s funeral draws Bush, mix of Democrats and Republicans. Not Trump. WP reports Dick Cheney, the former vice president and a consummate Washington insider across four decades, was remembered as a shrewd and steady tactician.
Cheney remembered for transforming national security and standing against Trump: As the former vice president is honored at Washington National Cathedral on Thursday, many eyes are focused on who came — and who did not. NYT
Dick Cheney and the false nostalgia for the good Republican Ross Barkan
How Donald Trump is turning into Joe Biden: It’s about more than denying inflation. Economist
Is Donald Trump a game theorist? There may be method to his madness. Christopher Caldwell
Trump wanted to abolish FEMA. His own advisers disagree. NYT reports a panel convened by President Trump is said to have rejected the president’s idea that the agency should “go away.”
Trump officials unveil plan to drill for oil off California, sparking a fight: WP reports Democratic Gov. Gavin Newsom declared the plan “dead on arrival” before it was released. The last federal oil lease sale in the Pacific was in 1984.
Trump plans to open more than a billion acres of US waters to drilling: WP reports the plan from the Interior Department is one of the president’s most significant steps yet to increase domestic fossil fuel production.
Trump calls for arrest of Democrats who urged troops to disobey illegal orders: WSJ reports: ‘You must refuse illegal orders,’ Democratic lawmakers said in video released this week.
Trump calls Democrats ‘traitors’ for telling military to refuse unlawful orders: WP reports the president said lawmakers who appeared in a video committed “seditious behavior” and should be arrested and put on trial for treason.
NYT: President calls Democrats’ video to military ‘punishable by death’
Donald Trump accuses Democrats of ‘seditious behaviour’ punishable by death over video: FT reports threat comes after lawmakers tell members of US military that they must refuse illegal orders.
Trump’s Toddler Response to the Epstein Saga: The president baits, deflects, and chews the scenery in a drama that just won’t die. Jonathan Chait
Welcome to Anything Goes America: Where the loosening of rules and tolerance of corruption will lead. Economist
The rise of the ‘Sex and the City Conservative’: What does it mean to be a MAGA woman in 2025? Elaine Godfrey
The MAGA world, divided over Trump's politics and eaten away by neo-Nazi movement: The Epstein case, tech billionaires, Venezuela, Israel: The movement that brought Donald Trump back to the White House now finds itself splintered on numerous fronts. An openly antisemitic, racist, and misogynistic current is gaining ground around Nick Fuentes. Le Monde
The GOP’s government enablers: Republican populists sound like Democrats as they vent their rage against Big Business. Kimberley A. Strassel
In America’s suburbs, frustrated middle-class voters are up for grabs: Wealthy districts voted Democratic on Tuesday, but middle-income voters could swing most House battlegrounds next year. WSJ
Why American-style polarisation is spreading across the West: New research shows how incentives in the modern media ecosystem help explain rising division and negativity. John Burn-Murdoch
As Trump plans backfire, Democrats are ahead in House redistricting fight: WP reports after early redistricting wins, Trump faces setbacks over maps for Texas, Indiana, and other Republican-led states, frustrating his allies.
Texas Republicans have gerrymandered their way into a corner: If the courts don’t stop them, Hispanic voters may punish them. Economist
In a Fox News Poll out Wednesday evening, voters said the White House is doing more harm than good on the economy: 46% said they've been hurt by the administration's economic policies, 15% say they've been helped and 39% said Trump has made no difference.
Today: New York City Mayor-elect Zohran Mamdani will meet Trump in the Oval Office.
CNN: Democrats are debating how to approach the new Marjorie Taylor Greene
WP: Trump-Marjorie Taylor Greene breakup shakes MAGA: ‘Mom and Dad are separated’
Marjorie Taylor Greene: anti-Trump resistance hero? The left sees that she might be useful in their war to bring down Trump. Douglas Murray
Indicted Democratic Rep. Sheila Cherfilus-McCormick of Florida will step aside from her leadership position on a House Foreign Affairs subcommittee “while the matter is ongoing,” House Minority Leader Hakeem Jeffries’ office said Thursday morning. A federal grand jury indicted her on Wednesday on charges of embezzling $5 million in disaster funds.
‘Nations Apart’ review: The republic by region: The strongest divisions in our politics may have emerged from patterns of early American settlement. WSJ
‘I wanna blow this up’: How Bari Weiss is trying to overhaul CBS News: The new editor in chief is personally recruiting potential anchors, booking guests herself, and asking staff what they do. WSJ
Is a global housing bubble about to burst? It’s unlikely, according to a report by the Swiss bank UBS, but some markets are more vulnerable than others. NYT
WSJ: Stock-market rebound evaporates as AI fears resurface
He’s been right about AI for 40 years. Now he thinks everyone is wrong. Yann LeCun invented many fundamental components of modern AI. Now he’s convinced most in his field have been led astray by the siren song of large language models. WSJ
To meld AI with supercomputers, national labs are picking up the pace: AI has added urgency to the US national laboratories that have been sites of cutting-edge scientific research, leading to deals with tech giants like Nvidia to speed up. NYT
AI = "fearful and distrustful": Edelman this week released a flash update to its highly influential Trust Barometer, showing Americans are deeply fearful and distrustful of the Trump administration's top domestic fixation: accelerating AI. Big majorities are pessimistic about the technology broadly, and super-anxious that robots will eat their jobs.
+ "People might believe that AI is globalization 2.0 — that jobs will shift out of our country, and jobs will go to ... somebody younger or cheaper." -- Edelman CEO Richard Edelman
White House drafts order directing Justice Department to sue states that pass AI regulations: WP reports the proposal comes after Republicans failed to get a federal block on state AI legislation approved in Congress.
Donald Trump’s support for pro-AI proposal fuels MAGA backlash: US president endorses move to restrict regulation by states after lobbying from Silicon Valley. FT
A White House power grab on AI would be a huge mistake Dave Lee
Don’t let AI ruin the em dash: In defense of the newly controversial punctuation mark, which has become a target for those determined to root out AI writing. Joel Stein
Apple will need to move on from the Tim Cook gravy train: Tech group’s next chief must convince shareholders it is time to expand the scale of the company’s bets. Richard Waters
How do you replace a CEO like Tim Cook or Warren Buffett? Some shoes seem just too big to fill. Economist
GE HealthCare Technologies is buying Intelerad Medical Systems, a maker of medical imaging software, for $2.3 billion in cash to expand its efforts in cloud software and artificial intelligence.
Toyoda’s MAGA cosplay disguises Japan’s pain: The shrinking, ageing economy is in critical need of mechanisms to attract the world’s best. Leo Lewis
Walmart to shift listing to Nasdaq as retailer raises sales forecasts: FT reports US behemoth’s switch is the biggest by company market value between the exchanges.
Quince knows what you’re looking for. And it’s making it cheaper: Inside the California company’s quest to sell you everything from cashmere to caviar for less than the competition. WSJ
Gap reported stronger-than-expected sales, a sign that celebrity-fueled marketing, flashy collaborations, and a revamped inventory are luring in consumers.
Weed drinks that get you very, very high could be gone soon: Cannabis beverages with up to 100mg of THC are increasingly popular. A ban on hemp is threatening their survival. Bloomberg
7 of the most innovative cities in the world that push sustainable growth in 2025: From Zurich to Copenhagen, explore the cities redefining smart, green, and connected living in 2025. IE
Give Stellan Skarsgård an Oscar for Sentimental Value: Joachim Trier’s film shows us what compassion is. Germán Saucedo
+ MR: Sentimental Value is one of the top two films I have seen this year (the other is Hamnet, which in many ways has the same throughline as Sentimental Value) and will do exceptionally well this awards season. Stellan Skarsgård is a peak performance in this film.
‘Death by Lightning’ review: A president struck down on Netflix: Michael Shannon and Matthew Macfadyen star as James Garfield and his crazed assassin in this gripping four-part series. WSJ
Meet the $50mn ‘experience designers’ for the 0.01 percent: House reveals, heli-skiing, and branded condoms are all in a day’s work for the professionals who curate billionaires’ lives. FT
Are we becoming post-literate? Audio-driven content is rendering reading and writing obsolete. Katherine Dee
After 167 years in New York, a priceless coin collection heads to Toledo: The doubloons, dollars, and denarii of the American Numismatic Society will leave their overlooked home in Manhattan for a more welcoming headquarters on the campus of the Toledo Museum of Art. NYT
Guardian: Paramount to show most Champions League games in UK from 2027-31
+ US network made largest bid at this week’s auction
+ Amazon Prime will have first pick of Tuesday matches
Paramount makes surprise knockout bid for UK Champions League rights: US media group shocks sports rights market with European football push. FT
Scotland’s wild World Cup moment was built by collective will and individual brilliance: Steve Clarke’s history-making team have a ferocious work ethic that should typify what Scotland stands for. Ewan Murray
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | November 20
US and Russian officials draft new peace plan for Ukraine: FT reports that the proposal envisages major concessions by Kyiv and rollback of American military assistance.
Trump administration pushes new plan for ending Ukraine war: WSJ reports the 28-point proposal drafted by some of the president’s closest aides is likely to face strong opposition from Ukraine.
US-Russian peace plan would force Ukraine to cede land and cut army: NYT reports the 28-point proposal, which comes as the Trump administration tries to restart settlement talks, includes demands long rejected by Kyiv as nonstarters.
+ The 28-point US plan is inspired by President Trump's successful push for a deal in Gaza. A top Russian official told Axios he's optimistic about the plan. It's not yet clear how Ukraine and its European backers will feel about it.
+ The Trump administration has been secretly working in consultation with Russia to draft a new plan to end the war in Ukraine, US and Russian officials tell Axios.
US pushes Ukraine to halve army in secret peace plan with Kremlin: The Times reports Kyiv could also be asked to surrender the Donbas and give up its most powerful weapons in return for an end to Putin’s war.
Axios: Scoop: Trump plan asks Ukraine to cede additional territory for security guarantee
Ukraine told to accept cash-for-land deal with Putin: Telegraph reports Russia would keep control of Donbas region in exchange for rental fee under US plan.
US pushes new Ukraine peace plan as US Army secretary visits Kyiv: WP reports the administration is renewing efforts to end the war, pitching a revised ceasefire proposal and giving a top military official an unusual diplomatic assignment.
Top US Army officials visit Kyiv on peace and tech sharing mission: Politico reports it's the highest-level visit by the Trump administration to the war-torn country since Treasury Secretary Scott Bessent traveled to Kyiv in February.
Congress plots path for Russia sanctions bill with Trump’s blessing: Politico reports Senate Majority Leader John Thune says he believes the legislative effort should begin in the House.
Zelensky under siege as corruption case shatters Ukraine’s wartime unity: NYT reports an anti-Zelensky political coalition is coalescing as the president’s allies are accused of enriching themselves while the country’s soldiers die on the battlefield.
Don’t let a scandal undermine the defence of Ukraine: Outrage is justified. Letting Vladimir Putin win would be disastrous. Economist
NATO on alert as Poland accuses Russia of ‘state terrorism’ in rail blast: WP reports tensions rose after a blast damaged the Warsaw-Lublin rail line, which has been used to deliver aid to Ukraine, and a Russian missile attack killed at least 25 people in Ternopil.
+ Poland closed its last remaining Russian consulate and accused Russia of “state terrorism” days after a railway explosion wrecked tracks leading to Poland’s border with Ukraine.
John Healey says Russia laser provocation ushers in ‘hard power’ era: After the ‘deeply dangerous’ actions by the spy ship Yantar, the defence secretary sent a defiant message directly to President Putin: ‘We see you.’ The Times
Trump wants Germany to take over NATO: Ambassador Matthew Whitaker calls for a European general to take over alliance’s top military role. Telegraph
Italy approves Nord Stream suspect's Germany extradition: DW reports Italy's highest court has upheld a lower court verdict approving the extradition of the suspected ringleader of the Nord Stream gas pipeline sabotage to Germany. The Ukrainian national's lawyer announced the news.
AP: Israel’s military carries out strikes in Lebanon and Gaza, killing dozens of people
Israeli strikes kill at least 25 in Gaza amid truce, officials say: NYT reports Israel’s military said it had launched attacks across Gaza after Palestinian militants shot at its troops. The six-week-old cease-fire has been pierced periodically by bursts of violence.
Bodies keep turning up in Syria, haunting new leaders: In the months after the fall of the Assad regime, Syrians have continued to discover large-scale burial sites, sometimes by chance. ‘Everyone who’s missing now…they’re buried in the ground somewhere.’ WSJ
Bloomberg: US approves sale of 35,000 AI chips to UAE’s G42, Saudis’ Humain
US approves deal to sell AI chips to Middle East: WSJ reports agreement follows talks between President Trump and Saudi Arabia’s Crown Prince Mohammed bin Salman.
Musk’s xAI and Nvidia to develop data center in Saudi Arabia: WSJ reports executives unveiled plans at Wednesday gathering featuring President Trump, Crown Prince Mohammed bin Salman.
Saudi Arabia’s prince has big plans, but his giant fund is low on cash: NYT reports that after nearly a decade of expensive, hit-and-miss investments, Mohammed bin Salman is overseeing a behind-the-scenes restructuring of the kingdom’s all-important wealth fund.
The art of a deal with Saudi Arabia: Trump says he’ll sell the F-35 fighter jets and more. What is MBS willing to give? WSJ-Editorial
Bloomberg: Trump’s green light of Saudi F-35s for MBS is only the beginning
AP: Trump says he'll push for peace in Sudan after Saudi crown prince urged greater US involvement
Can Chinese-made buses be hacked? Norway drove one down a mine to find out: The growing prevalence of Chinese technology in Europe’s infrastructure is stoking security concerns across the region. WSJ
Chinese spies targeted ‘thousands’ in Westminster operation: Intelligence officers approached those “one step removed” from high-priority parliamentary figures, as well as economists, think tank employees, and consultants. The Times
China reclaims spot as top German trade partner from US: DW reports China has edged back ahead as Germany's highest-volume trade partner, just a year after the US claimed the position. Exports, particularly of cars, to both core markets have dipped sharply amid tariff tussles.
Netherlands to give up control of Nexperia in China dispute: DW reports the Netherlands praised China's softening of export restrictions as a "show of goodwill." The dispute has alarmed European car manufacturers, who have warned of serious supply chain disruptions on high-tech chips.
Analysis: Xi Jinping hesitates to draw double-edged sword of anti-Japan protests: Whipping up unrest could unleash Chinese people's pent-up economic frustrations. Nikkei
China suspending Japanese seafood imports: Japan official: Nikkei reports move taken in apparent retaliation for PM Takaichi's remarks on Taiwan.
US panel calls on Taiwan to fund Philippine base upgrades: Nikkei reports American presence at defense cooperation sites 'directly related' to deterring China.
AI boom is turning Malaysia’s palm oil estates into data centers: Plantations are being turned into data center parks and solar power farms, the latter meant to feed the insatiable energy appetites of the former. Bloomberg
Outrage over ‘Italian’ carbonara made in Belgium: The Times reports jars of Belgian-made pasta sauce featuring an Italian flag being sold the supermarket of the European parliament cause a diplomatic incident.
Meloni’s party orders investigation into sale of ‘fake carbonara’ in EU parliament: Telegraph reports Brothers of Italy party furious that Belgian-made versions of famous sauces, branded with Italian flag, are available.
Namibia wants to build the world’s first hydrogen economy: Can the vast and sparsely populated African country translate its renewable power potential into national development? MIT TR
Bloomberg: US warns South Africa not to issue G20 statement at summit
+ The US warned South Africa against pushing for a joint statement at the G20 summit that the Trump administration is boycotting.
+ The US opposes South Africa's G20 presidency and its core agenda of solidarity, equality, and sustainability, and will block any outcome framed as a consensus G-20 position.
+ Despite the US opposition, South Africa is pressing ahead with efforts to obtain a joint statement at the summit, with support from countries such as Brazil and Germany.
Hedge funds reap gains on Argentina bets as Trump steps in: BAT reports hedge funds notched bumper gains in October after a US rescue package and a resounding win for President Javier Milei’s party in midterm elections.
Milei set to attend Mercosur summit amid EU trade deal uncertainty: BAT reports Argentina's head of state is now likely to attend Mercosur summit, despite previous reports to the contrary. “The President has it on his agenda and it is very likely that he will go,” says government source.
Mexico is not just the top supplier to the US. Now it is the top buyer. NYT reports for the first time in at least 30 years, the United States has exported more to Mexico than Canada, US government data show, in a sign of how much North American trade has consolidated.
María Corina Machado on why time is running out for Nicolás Maduro in Venezuela: A democratic transition could set off a bonanza worth almost $2trn, reckons the opposition leader and Nobel laureate. Economist
Trump said to authorize CIA plans for covert action in Venezuela: The president has signed off on possible operations inside Venezuela, but has also reopened back-channel communications with the government of President Nicolás Maduro. NYT
Is Donald Trump preparing to strike Venezuela or lining up a deal? The answer is both. Economist
The ‘Donroe Doctrine’: Trump’s power play in Latin America: Long neglected in Washington, the region is key to some of the president’s priorities, including halting illegal migration and limiting Chinese influence. FT
Why the ‘America First’ president keeps looking abroad: Trump keeps showing he is not as isolationist as many supporters had hoped. NYT
Trump and a new ‘Arsenal of Freedom’: Hegseth’s acquisition reforms are crucial to reviving US defenses. WSJ-Editorial
The day Republicans beat Trump: Nothing like the Epstein-files loss has ever happened to him. Ben Jacobs
WP: Despite congressional action, quick release of Epstein files is in doubt
Reuters: US Justice Department will release Epstein files within 30 days, Bondi says
Trump says he will approve the release of the Epstein files. But There Are Loopholes. NYT reports the bill has not yet been presented to the president, and it wasn’t clear when it might reach his desk.
How Donald Trump lost control of the Epstein spin cycle: Donald Trump has spent years benefiting from the QAnon's Jeffrey Epstein obsession. That’s all changing. Wired
Harvard will open a new inquiry into faculty ties to Epstein: NYT reports the university is reviewing newly released emails between the convicted sex offender Jeffrey Epstein and Lawrence H. Summers, a former Harvard president, and others at the institution.
Larry Summers resigns from OpenAI board after Epstein revelations: WSJ reports Harvard University also launches review of its former president’s behavior over his correspondence with the sex offender.
Former Fox News host under fire for Epstein comments: Telegraph reports Megyn Kelly accused of getting bogged down in ‘paedophile math’ over remarks made about age of victims.
Justice Dept. acknowledges full grand jury never saw final Comey indictment: WP reports the remarkable admission could threaten the viability of the case against the former FBI director.
Trump loyalist admits grand jury never saw final Comey indictment: NYT reports grand jurors have to vote on indictments to approve them, but a prosecutor told the judge in the case that only the foreperson formally approved the second charging document, a move that could cripple the case.
WP: Trump administration agrees not to paint the Eisenhower building before 2026
Trump says he’d ‘love to fire’ Powell, renewing attacks on Fed chair: WP reports Trump also seemed to pressure Treasury Secretary Scott Bessent to somehow persuade Powell to lower interest rates further — or be fired himself.
Trump says he’d ‘love to fire’ Powell, renewing attacks on Fed chair: WP reports Trump also seemed to pressure Treasury Secretary Scott Bessent to somehow persuade Powell to lower interest rates further — or be fired himself.
What economists got wrong on tariffs: When Donald Trump rolled out global tariffs in April, economists braced for the worst. Since then, a lot has happened, but the sky has yet to fall. Were the experts wrong? Or is it too early to tell? Bloomberg
Bloomberg: Trump’s $2,000 tariff check idea draws Republican resistance
+ Republican lawmakers are resisting President Donald Trump's proposal to send $2,000 checks to working-class households next year.
+ The White House says the checks would be funded by tariff revenue, but lawmakers prefer to use the revenue to reduce the deficit.
+ The president's idea remains fluid, but administration officials are considering options to circumvent Congress and distribute the checks without legislative approval.
The FTC’s Meta antitrust implosion: Its monopoly case loses after five years of fierce online competition. WSJ-Editorial
WP: Mamdani will keep Jessica Tisch as New York police commissioner
Political parties have disconnected from the public: Across the democratic world, the postwar era’s dominant parties face a populist insurgency. Idrees Kahloon
Democrats lead in 2026 generic ballot: A Marquette Law School Poll finds that 49% of registered voters expect to vote for a Democrat and 44% expect to vote for a Republican in the 2026 midterms.
George Conway, a vocal foe of Trump, eyes congressional run: NYT reports the former conservative lawyer built a social media following with his harsh criticism of President Trump, who was the boss of his wife at the time.
+ Conway is moving closer to announcing a run for Congress in one of Manhattan’s wealthiest and bluest districts, pitching himself to potential donors as a top attorney who does not “have any more effs to give.”
+ Conway has hired the Democratic pollster Anna Greenberg to work on a budding campaign to succeed Representative Jerrold Nadler, Democrat of New York, who is retiring.
Despite Ron DeSantis' lobbying, megadonor Ken Griffin stays on the sidelines in Florida governor's race: NBC News reports the Florida governor has made at least two direct pleas to the GOP megadonor or his team to help him find a challenger to Rep. Byron Donalds; both have been rebuffed.
Whitmer-tied nonprofit draws $7.7M from secret donors in 2024, staffs up: Detroit News reports the group, Road to Michigan's Future, which has existed since January 2020, doesn't have to report the identities of its contributors, even though many of its sponsors — whose names have become public in the past through other means — have had interests in matters before the state government.
Vance and Rubio offer clues to Trump’s foreign policy — and the 2028 Race: The US vice president and secretary of state have divergent styles. Both are building credentials on the world stage as potential successors to Trump. Bloomberg
+ President Donald Trump’s boycott of the Group of 20 summit in South Africa leaves the forum to divine his intentions on the global stage without a US representative for the first time since its inception.
+ Vice President JD Vance and Secretary of State Marco Rubio have closely aided Trump as he sketches out the bones of a new foreign policy, with their divergent styles and interaction offering clues to reading the emerging doctrine.
+ Trump has spent months privately and publicly teasing a rivalry between Vance and Rubio, suggesting at times that one, then the other, is best positioned to take the torch from him, although both men have downplayed any sense of competition.
Orthodox Church pews are overflowing with converts: “In the whole history of the Orthodox Church in America, this has never been seen,” a priest said about the surge of young men drawn to the demanding practice of Christianity. NYT
Nvidia delivered a surprisingly strong revenue forecast and pushed back on the idea that the AI industry is in a bubble, easing concerns that had spread across the tech sector.
Nvidia says AI boom is accelerating as revenues rise 62%: The Times reports shares in the world’s most valuable company jump after third-quarter results in which founder Jensen Huang says demand for advanced chips is ‘off the charts.’
Fortune: Nvidia blows past revenue targets and forecasts trillions in AI infrastructure spending by end of decade
Fortune: Big 5 AI ‘hyperscalers’ have quadrupled their use of debt to fund operations, Bank of America says
Bloomberg: Trump plans to unveil ‘Genesis Mission’ to boost AI development
+ President Donald Trump plans to roll out a “Genesis Mission” as part of an executive order to boost US artificial intelligence efforts.
+ The effort is intended to signal that the Trump administration sees the coming AI race as important as the Manhattan Project or space race.
+ Trump called on lawmakers to pass a federal standard governing artificial intelligence, saying that if they don't, China will easily catch the US in the AI race.
Quantum computing needs its own industrial revolution: The path to scalable computers is paved with high-tech equipment, not just high-impact academic papers. John Martinis
Bloomberg: Trump urges Congress to block state-level AI regulation
+ President Donald Trump called on Congress to pass a federal standard governing oversight of artificial intelligence, warning that varied regulation at the state level risked slowing the development of the technology.
+ Trump urged lawmakers to act quickly, and floated the idea of including an AI measure as part of upcoming defense policy legislation, saying "one Federal Standard instead of a patchwork of 50 State Regulatory Regimes" is needed.
+ Trump said that if the US doesn't act, "then China will easily catch us in the AI race," and that members of the White House administration have been making a push for federal preemption with members of Congress.
Let a thousand AI regimes bloom: While critics of decentralized technology regulation warn of higher compliance costs for businesses, Chinese-style centralization is hardly preferable. In fact, not only do regulatory patchworks tend to converge, but they also provide the flexibility that rapid technological change demands. Angela Huyue Zhang
EU proposes softening AI and data privacy regulations: DW reports the EU is responding to calls by businesses and member states that have argued the bloc needs to keep up with tech innovation. Meanwhile, cookie consent pop-up banners are also set to be scaled back.
Elon Musk’s xAI nears $230bn valuation in fundraising deal: FT reports billionaire’s artificial intelligence company plans to raise $15bn.
Meta AI pioneer LeCun announces exit, plans new startup: Yann LeCun, an artificial intelligence pioneer who runs a research lab at Meta Platforms Inc., told employees that he will depart the social media giant at the end of the year and start a new company, according to a memo obtained by Bloomberg News. Bloomberg
Meta’s chief AI scientist to depart for new venture: AI pioneer Yann LeCun is leaving to launch his own world model startup. WSJ
Cracks are appearing in OpenAI’s dominant facade: A deal between Anthropic, Microsoft, and Nvidia makes AI more circular. Economist
Event: Global launch of the 2025 Edelman Trust Barometer flash poll: Trust + AI at a crossroads: Join Edelman for a virtual event on December 3 featuring new research from the Edelman Trust Barometer that shows trust in AI is at an inflection point. The report reveals a clear disparity in enthusiasm and adoption of AI across geography, income, industry, and age. Our discussion will focus on what businesses can do to build acceptance of AI. RSVP here.
Event: AI, technology and society: Shaping the future together: Join LSE on November 24 as our panel discusses how their work at the intersection of AI and the social sciences can help to ensure AI advancement serves the greater good. Exploring how social science insights can shape AI innovation, the importance of research into the most consequential impacts of AI on our economies and societies, and how AI tools and methodologies can transform social science investigation. RSVP here.
The Pope vs. the algorithm. Bilge Ebiri
The new requirement for MBAs seeking consulting jobs: AI proficiency: Rather than posing an existential threat, the technology is reinforcing the importance of judgment and emotional intelligence. Bloomberg
The most joyless tech revolution ever: AI is making us rich and unhappy: Discomfort around artificial intelligence helps explain the disconnect between a solid economy and an anxious public. Greg Ip
How to cheat at conversation: A new AI tool promises to improve social interactions, but instead makes them worse. Julie Beck
‘Mine is really alive.’ In online communities, people who say their AI lovers are “real” are seen as crossing a line. Are they actually so crazy? Lila Shapiro
Meta to remove under-16 Australians from Facebook, Instagram on December 4: AFP reports Australians younger than 16 will be removed from Facebook and Instagram on December 4, tech giant Meta said Thursday, as Canberra prepares to enforce sweeping laws banning teens from social media.
G+M: AI bot recorded doctors’ meeting, sent patient info to current and former hospital staff, watchdog says
Cloudflare outage briefly disrupts ChatGPT, X and dozens of apps: WP reports the cybersecurity service called the disruption “resolved” but said it would continue to monitor.
Cloudflare service resumes after outage disrupts X, ChatGPT, other sites: WP reports company’s web security tools are invisible to users, but underpin many widely trafficked sites.
Bloomberg: A $100,000 robot dog is becoming standard in policing — and raising ethical alarms
Incode Technologies, an identity verification platform, is in preliminary talks to raise between $150 million and $300 million from investors at a valuation of as much as $3 billion, according to people familiar with the matter.
Crypto mixer co-founder gets four years in money-laundering case: Bloomberg reports one of the rare cryptocurrency prosecutions under the Trump administration led to a four-year prison term for a bitcoin wallet operator accused of helping launder more than $200 million from illegal dark web transactions. William Lonergan Hill, who co-founded the crypto mixing service Samourai Wallet, was sentenced Wednesday by US District Judge Denise Cote in Manhattan.
CNBC: Zoox begins offering robotaxi rides in San Francisco, facing off with Waymo
+ Zoox on Tuesday began allowing select San Francisco users to hail its driverless vehicles, pitting the Amazon-owned robotaxi service against Alphabet’s Waymo in the same market for the first time.
+ Riders can sign up for the “Zoox Explorers” program to take free rides in the company’s robotaxis in San Francisco’s SoMa, Mission and Design District neighborhoods.
+ Waymo opened up its service to all San Francisco riders in June 2024. Since launching its service in Phoenix in 2020, Waymo has provided more than 10 million paid rides, the company said in May.
Bloomberg: Blue Origin no longer just a rocket company as Mars ‘on radar’
Kering must kick Gucci habit, chief Luca de Meo tells staff: FT reports boss sets out in memo need for luxury group to reduce ‘over-dependency’ on Italian brand.
Warner Bros. suitors put final touches on bids as deadline nears: Bloomberg reports Paramount Skydance Corp., Comcast Corp., and Netflix Inc. are all contemplating offers for Warner Bros. Discovery Inc., with each trying to distinguish their proposals and avoid overpaying for the assets.
21 million: The concept of kissing dates back more than 21 million years, University of Oxford scientists have found, with humans and many of their ancestors engaging with the practice. The study didn’t explore why the practice began.
UK to ban ticket resales above face value: Le Monde reports the move comes as the UK government unveils sweeping consumer protections aimed at ticket scalpers whose inflated prices have angered fans and the music industry.
+ "With a price cap on regulated marketplaces, ticket transactions will move to black markets," said a spokesperson for StubHub International. "When a regulated market becomes a black market, only bad things happen for consumers," the spokesperson added.
Wes Anderson at the Design Museum review — even better than Kubrick: The Texan is the third film-maker to have a retrospective at the London museum, after Stanley Kubrick and Tim Burton — and his is the exquisite best. The Times
Everyone in LA wants a giant front door Clio Chang
The NFL’s secret obsession with supersonic flight: With dreams of permanent franchises in Europe, the league has quietly been keeping tabs on companies aiming to bring the technology back—and it could happen sooner than you think. WSJ
+ @AdamSchefter: The New Orleans Saints are expected to play a game in Paris, as early as the 2026 regular season, per their team president Dennis Lauscha. The NFL and stadium officials in Paris are working to finalize a deal to bring the Saints to Paris, with an announcement likely in the coming
Shedeur Sanders gets the start for the Browns: ‘The game got to speak’: WP reports the former Colorado star and Hall of Famer’s son is named starter for Sunday’s game at Las Vegas.
Cartel NIL: FBI investigators reveal the University of Texas at El Paso has been receiving NIL donations from the Juárez Cartel to support athletic programs. University officials claim they were unaware of the source of the funds and say the money would’ve been rejected had they known.
Major League Baseball signs new rights deals with ESPN, NBCU, and Netflix: WSJ reports agreements are valued at a combined $800 million annually.
AFP: MLB returns to Field of Dreams in 2026 with Twins and Phillies
The scandal roiling Turkish football: Gambling probes halt lower leagues and suspend hundreds of players, but many say they are scapegoats. FT
The World Cup is being overrun by underdogs: The decision to expand the field for next summer’s tournament to 48 teams has opened the door to a cast of unlikely entrants, including Uzbekistan, Curaçao—and Scotland. WSJ
Joy as Haitian men’s team secures first World Cup berth since 1974: WP reports that with their Port-au-Prince stadium under gang control, the Grenadiers are playing home games in Curaçao. Their French coach hasn’t visited Haiti since his appointment.
Gang-wracked Haiti unites, goes wild over World Cup qualification: AFP reports fireworks and dancing erupted across Haiti in a reprieve from gang violence as people came together to celebrate their national team punching its ticket to the 2026 World Cup.
I was lost in Scotland’s World Cup drama — only sport does this to us: Watching Scotland’s heroics to qualify for the World Cup filled me with delight. We live and breathe sport in the hope of experiencing a game like that. Matthew Syed
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | November 19
The illiberal world order is here: Now that Donald Trump's administration has explicitly rejected the international rules-based institutions and arrangements that America created after World War II, the very idea of an international order is no longer relevant. The world now belongs to illiberal regimes intent on pursuing their own interests. Carl Bildt
The loneliness of America’s model ally: Donald Trump has no desire to play global cop. That is tough on Denmark, a loyal sheriff’s deputy. Economist
US may owe $1 trillion in refunds if SCOTUS cancels Trump tariffs: ARS reports tech industry primed for big refunds if SCOTUS rules against Trump tariffs.
AP: Trump dismisses criticism of Saudi Crown Prince over 2018 killing of journalist Jamal Khashoggi, says ‘things happen.’
Trump says Saudi leader knew nothing of journalist murder, rejecting CIA assessment: WSJ reports Jamal Khashoggi’s grisly murder in a Saudi consulate in Turkey in 2018 led to intense blowback in Washington. The CIA assessed that Saudi Crown Prince Mohammed bin Salman orchestrated the killing.
Trump defends Saudi crown prince over Khashoggi killing: WP reports the president said he did not hold Mohammed bin Salman responsible for the 2018 murder of Post columnist Jamal Khashoggi, despite a US intelligence report assessing the opposite.
DW: Saudi prince calls Khashoggi killing a 'mistake' on US visit
Bloomberg: US plans to approve sale of chips to Saudi AI venture Humain
Chinese agents using LinkedIn to target British MPs: Politico reports MI5 warns lawmakers China’s security ministry is “actively reaching out to individuals in our community” to “collect information and lay the groundwork for long-term relationships.”
Chinese spies targeting MPs with ‘large financial incentives’, MI5 warns: The Times reports MPs are told that Beijing is ‘relentless’ in trying to gain influence over members of the Commons and Lords.
How Chinese spies seek state secrets with LinkedIn ‘headhunters’: MI5’s decision to publicise the online targeting of parliamentary aides sends a clear message to Beijing: we know what you are doing. The Times
The growing problem with China’s unreliable numbers: Beijing’s GDP figures have drawn scrutiny for years but the questions have become more acute. FT
Xi’s university fuels China AI boom with more patents than Harvard or MIT: Tsinghua University has educated the country’s top science and engineering students for decades. Now, it’s at the forefront of the AI revolution. Bloomberg
China and Japan are in a vicious game of chicken over Taiwan: Neither side sees backing down as an option. Economist
From films to flights, Xi tests Japan’s stamina for a fight: Beijing has continued its tirade against Sanae Takaichi after she suggested Tokyo’s support for Taiwan in the event of a Chinese invasion. The Times
Japanese, Chinese diplomats spar over Taiwan row, signaling long standoff: Nikkei reports Tokyo refuses to retract PM comment, pushes back on Beijing warning against Japan travel.
Cutting ties with China is harder than companies expected: As US toymaker Learning Resources tries to wean itself from mainland producers, it’s discovering that it’s easier to move your factory out of China than it is to move China out of your factory. Bloomberg
Germany hopes new data centre can help bring 'digital sovereignty': AFP reports a new mega data centre is slated to rise in a rural stretch of eastern Germany in what backers hope is a starting point for a European AI sector that can compete with the United States and China.
Bloomberg: Macron says Germany, France seek to delay high-risk AI rules
+ Germany and France want to delay by a year provisions of the European Union’s AI Act that would regulate high-risk artificial intelligence systems, according to French President Emmanuel Macron.
+ Macron said it's necessary to use the time to accelerate the innovation agenda, and industry groups and companies have lobbied the EU's executive branch to freeze the rules until standards are adopted.
+ The European Commission will present a "digital omnibus" draft law to simplify data protection regulations and the AI Act, and requirements for high-risk AI systems are set to come into force next August if a delay is not agreed upon.
Europe aimed to set standards for tech rules, now it wants to roll them back: WSJ reports backed by France and Germany, the EU thinks easing back on legislation will boost growth and make the bloc less dependent on US tech.
Macron urges 'European preference' in tech to avoid becoming vassals of US or China: The French President called for Europe to build its own digital solutions and stop relying on American and Chinese tech giants. Le Monde
AFP: As Europe aims for "digital sovereignty", biomedical agentic AI could be the next big field
What NATO’s arms industry is learning from the battlefields of Ukraine: War has long been constrained by the moral and physical boundaries of soldiers. Now humanity is being removed from combat altogether. Toronto Star
TotalEnergies accused of 'complicity in war crimes' in Mozambique: Le Monde reports in the summer of 2021, Mozambican civilians were detained and tortured by soldiers guarding TotalEnergies's gas site. A non-governmental organization is challenging the responsibility of the French multinational company.
Toronto Star: One in five immigrants are leaving Canada. Data reveals these highly skilled newcomers are leading the exodus
Crime and economic woes push South American voters to the right: Reasons why South Americans are electing right-wing candidates this year differ in each country, but they’re all driving the region in the same political direction. BAT
Ecuador votes no to hosting US military base: NYT reports vote on Sunday rejected the expansion of a foreign military presence. It came as the US military’s campaign in waters near Latin America has been roiling the region.
Milei plans new US trip to meet Trump and attend 2026 World Cup draw: BAT reports Argentina’s President Javier Milei planning new trip to United States; He will attend World Cup 2026 draw at Kennedy Center and meet with US President Donald Trump.
A grand bargain with Venezuela: American forces won’t dislodge Maduro, but American diplomacy might. Francisco Rodríguez
Trump Team calls Maduro a ‘cartel’ boss. That word doesn’t mean what you think. Venezuelans coined a figure of speech for the phenomenon of generals corrupted by drug money: “Cartel de los Soles.” Then the United States started talking about it as a literal organization. NYT
Why the real target of Trump’s campaign in Venezuela is Cuba: The US president is amassing firepower in the Caribbean to force Maduro out, but the ultimate goal may be regime change in Havana. Telegraph
Can Venezuela count on any allies to help if the US attacks? American adversaries are unlikely to help President Nicolás Maduro of Venezuela fend off a concerted attack. But they have made toppling him harder. NYT
BBC: Venezuela's Maduro 'ready to talk' as US ramps up pressure
Axios: Senate passes bill to release Epstein files
Senate approves Epstein files bill, sending it to Trump’s desk: Politico reports the legislation passed the Senate by unanimous consent, with no debate.
ST: US House passes measure to force release of Epstein files in 427-1 vote
Congress passes bill to release Epstein files after lengthy fight: WSJ reports the Senate quickly approved the measure after a 427-1 vote in the House. President Trump had said he would sign the bill despite his long-standing objections.
Congress to send bill to Trump forcing disclosure of Jeffrey Epstein files: WP reports the House overcame a months-long impasse, and the Senate moved quickly to dispatch with the issue.
Miami Herald: Epstein turned to academic Noam Chomsky, others to rehab image after Herald investigation
Trump again threatens ABC's broadcast license, this time over Epstein questions: Politico reports Trump’s threat came after questions about whether he would order the files released without congressional consent, as well as those related to the 2018 assassination of a Washington Post columnist.
Trump threatens ABC News in Oval Office meltdown: AFP reports an infuriated Donald Trump threatened a US network's broadcast license Tuesday after its reporter asked questions about his family's business and the Jeffrey Epstein scandal at a high-profile White House event.
‘Quiet, piggy, ’ Trump tells reporter who asked about Epstein files: The Times reports the Bloomberg reporter, thought to be Catherine Lucey, has not commented on the exchange on board Air Force One.
Reuters: Trump approval falls to lowest of his term over prices and Epstein files, Reuters/Ipsos poll finds
CDC links measles outbreaks in multiple states for the first time: NYT reports that if the outbreaks cannot be extinguished by January, the anniversary of the first cases in Texas, the United States will lose what is known as “elimination status” as determined by the World Health Organization.
Trump administration announces steps to dismantle Education Department: NYT reports responsibilities for K-12 and college programs, among others, will be moved to other federal agencies.
Trump administration announces dismantling of parts of the Education Dept. WP reports President Donald Trump signed an executive order in March seeking to close the department, but only Congress has the power to do that.
Under Trump, immigrants are more fearful but determined to stay, poll finds: NYT reports a national survey found that half of all immigrants in the United States say they feel less safe since President Trump took office. Still, many say their future remains bright.
Texas’ new congressional map blocked by court: WSJ reports challengers succeeded in a bid to block the state’s move to add more Republican seats to the House.
Marjorie Taylor Greene’s big MAGA break-up: Defying the president over the Epstein files is her latest bust-up with the Republican Party. Economist
Marjorie Taylor Greene’s rebrand sends a message to MAGA: The Georgia lawmaker is using the Epstein vote to draw a line in the sand between herself and President Trump. Jessica Karl
It’s the cost of living, stupid: The MAGA agenda will only succeed if Americans feel material relief. Bridget Phetasy
Musk is back in politics. Does he want to stay a while? Having struck an uneasy truce with the president, Elon Musk is starting to make political appearances again, and his allies are planning a DOGE reunion party. NYT
Kamala Harris hits campaign trail in Tennessee special election: NYT reports on Tuesday, the former vice president made her first campaign appearance for another Democrat since leaving office.
Why Ford can’t find mechanics: Forget about reshoring manufacturing without more skilled workers. WSJ-Editorial
Bloomberg: US faces winter blackout risks from data centers’ power needs
US backs $1 billion loan to restart the Three Mile Island nuclear plant: WSJ reports Constellation Energy aims to bring the mothballed plant back to life to power a Microsoft AI agreement.
Bloomberg: Constellation gets $1 billion loan to open Three Mile Island nuclear plant
Alphabet-led AI project to shield New Zealand grid from outages: Bloomberg reports a consortium of four utilities serving a quarter of New Zealand will join an Alphabet Inc.-led initiative that uses artificial intelligence to fortify the country’s grid against failures caused by extreme weather or earthquakes.
Why today’s internet is so fragile Bloomberg
Rampant AI demand throws the memory chip market into turmoil: Nikkei reports supply constraints spark warnings of price rises and launch delays for consumer electronics.
Oracle is already underwater on its ‘astonishing’ $300bn OpenAI deal: FT reports AI’s circular economy may have a reverse Midas at the centre.
The AI bubble’s shaky math: Today’s massive and still-growing investments in AI and its accompanying infrastructure could well pay off like the internet did, following the investment boom of the late 1990s. But, for now, the gains from AI look more muted, and the macro downsides larger, than in the case of the dot-com bubble. Carl Benedikt Frey
BBC: Google boss says trillion-dollar AI investment boom has 'elements of irrationality'
Nvidia, Microsoft pour $15 billion into Anthropic for new AI alliance: WSJ reports Anthropic is committing to purchase $30 billion from Microsoft’s cloud-computing business, Azure.
Nvidia, Microsoft invest $15 billion in AI startup Anthropic: AFP reports Nvidia and Microsoft announced Tuesday investments totaling $15 billion in AI startup Anthropic, creator of the Claude chatbot, amid frenzied spending on the technology and growing fears of a bubble.
I invented the AI actress Tilly Norwood. She’s no threat to Hollywood: The UK-based former actress Eline van der Velden on the backlash to her ‘Bafta-optimised’ creation, the benefits of AI, and her plan to make Norwood interactive. The Times
Bloomberg: Google launches new Gemini AI model with interactive answers
+ Alphabet Inc.'s Google debuted an updated version of its artificial intelligence model, Gemini, that executives said represents a "massive jump" in reasoning and coding ability.
+ The new model, Gemini 3, can process text, images, and other media as well as solve complex science and math problems, and has dramatically improved its ability to reason and respond based on that input.
+ Gemini 3 will be available immediately across all of Google's major products, including search, and can answer questions with interactive graphics, and will be used to reply to the hardest queries in Google Search or AI Mode.
Google seeks to shake up chatbot race with new Gemini version: WSJ reports the new model could help the company leverage its built-in advantages of scale and profitability—if it can meet users’ expectations.
AI can empower the financial industry: Detecting subtle patterns in data will help America preserve its hard-won competitive edge. Eric Schmidt + Dimitris Tsementzis
Meta defeats FTC’s antitrust case alleging social-media monopoly: WSJ reports the ruling denies the agency’s attempt to force the Facebook parent to unwind its Instagram and WhatsApp acquisitions.
Meta wins major antitrust case as US judge rules no monopoly: AFP reports a US judge dismissed the federal government's antitrust lawsuit against Meta on Tuesday, ruling that the tech giant's acquisition of Instagram and Whatsapp did not constitute an illegal monopoly in social media.
Meta’s victory opens the way for Silicon Valley to go deal shopping: NYT reports that to avoid regulatory scrutiny, big tech companies had steered clear of buying start-ups outright. Meta’s antitrust win may change that thinking.
Bloomberg is looking for Africa’s standout startups: We want to know about the companies that are designing Africa’s future. Bloomberg
Crypto market sheds $1.2tn as traders shun speculative assets: FT reports Bitcoin drops 28% in six weeks amid concerns about lofty tech valuations and US interest rates.
Why crypto’s spectacular market success is going sour: The industry got everything it wanted. Now it’s sinking. Economist
The stablecoin threat: Far too little attention has been paid to the fact that stablecoins could erode governments' control over money and debt, fundamentally reshaping how modern economies manage inflation, stabilize markets, and finance public spending. By catering to a politically connected industry, the United States is playing with fire. Angus Armstrong + Dennis J. Snower
Anheuser-Busch InBev nears $700 million deal for party punch maker BeatBox: WSJ reports the owner of Michelob Ultra is in talks to buy boxed punch that has gained traction with younger drinkers.
French court says Perrier can keep marketing as 'natural mineral water': AFP reports a French court on Tuesday said Perrier can keep selling its famed sparkling beverage as "natural mineral water", rejecting a case brought by a consumer rights group that said the label was misleading and urged the suspension of sales.
Panera plans to spend millions on better sandwiches and nicer stores: WSJ reports a turnaround strategy for the sandwich-and-salad chain includes improving service and food. “No one likes iceberg,” said Paul Carbone, CEO of Panera Brands.
Bloomberg: The hot new Dubai restaurant run by an AI chef at Woohoo
+ Dubai restaurateur Ahmet Oytun Cakir used ChatGPT for menu inspiration, which led to a bestselling dish and the idea for an all-AI concept restaurant called Woohoo.
+ Woohoo is fronted by "Chef Aiman," a large language model that creates recipes, analyzes ingredients, and generates flavor combinations, with human chefs testing and refining the dishes.
+ The restaurant features a futuristic atmosphere with immersive audio and video experiences, and its menu includes experimental dishes such as the Dinosaur Heart and Molecular Burrata, with prices ranging from $130 to $200 for a four-course meal.
Toyota announces $912m investments in US hybrid vehicle production: Nikkei reports the automaker aims to enhance production capabilities across five factories.
Self-driving taxis are catching on. Are you ready? With the arrival of Amazon’s Zoox robot taxi in San Francisco to compete with Waymo, autonomous services are gaining momentum. But there are pros and cons. NYT
After last week’s stunning landing, here’s what comes next for Blue Origin: “There’s never been such a high demand for launch as there is right now.” ARS
UK plans ban on ticket resale touts in bot-buying era: DW reports modern technologies have made it possible to buy up tickets moments after their release and instantly put them up for resale, often at an egregious mark-up. But the industry argues a ban will fuel the black market.
Did the Louvre robbers want to get caught? They left behind incriminating evidence, but perhaps their bungling was all part of a plan. Gavin Mortimer
The world has hit “peak wine”: Consumption is in secular decline, thanks to demographic and cultural shifts. Economist
Scotland has qualified for the World Cup for the first time in 28 years.
The Times: Pandemonium as Scotland strike late to reach first World Cup in 28 years
What’s it like to compete in the longest US off-road rally with no GPS? Hydrogen and solar power the rally infrastructure, but navigation is low-tech. ARS
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal