Secret US-Russia talks led to plan that blindsided Ukraine: The controversial 28-point plan dropped suddenly by the Trump administration to Ukraine as a take-it-or-leave it proposition mere days ago was mostly the result of several weeks of negotiations behind the scenes between Steve Witkoff and his Russian counterpart Kirill Dmitriev that excluded not only Ukraine and its allies but even some key US officials. Bloomberg
Trump envoys issue ultimatum to Ukraine to sign peace deal by Thursday: FT reports hardline message over US-Russia plan at volatile meeting in Kyiv sparks alarm among European allies.
Russia stuck to its demands on Ukraine. Many are now in Trump’s peace plan. WSJ reports Moscow has repeated its desire to neutralize Kyiv’s military and stop the expansion of NATO through diplomacy—or on the battlefield.
Trump criticises ‘zero gratitude’ of Ukraine as European officials meet: The Times reports top advisers are meeting in Geneva to discuss the proposed 28-point peace plan, which has been criticised for ceding too much to Putin.
NYT: President calls Ukraine ungrateful as US officials push for peace deal
Donald Trump attacks Ukrainian and European leaders as peace talks start: FT reports meeting in Geneva comes as confusion mounts over US position on proposal to end war with Russia.
Ukraine, allies meet in Geneva to discuss contentious US peace plan: G+M reports Kyiv and its allies, including Canada, are pushing to revise the plan that is seen as favouring Moscow.
US, Ukrainian and European officials meet in Geneva for talks on peace plan: DW reports officials from the United States, Ukraine, and national security advisers from France, the United Kingdom, and Germany are meeting in Geneva today to review Washington’s draft proposal to end the war in Ukraine.
Europeans push back on US plan during Geneva talks: DW reports a group of US lawmakers says Marco Rubio told them the Trump-backed peace plan is a Russian "wish list." Washington's top diplomat, however, insists it was US-authored.
US senators say Rubio told them Trump’s Ukraine peace plan is Russia's 'wish list': AP reports US senators critical of President Donald Trump’s approach to ending the Russia-Ukraine war said Saturday they spoke with US Secretary of State Marco Rubio who told them that the peace plan Trump is pushing Kyiv to accept is a “wish list” of the Russians and not the actual US plan.
+ A State Department spokesperson denied their account, calling it “blatantly false.”
Trump says Ukraine peace plan isn’t final after criticism it favors Russia: The proposal’s detractors are trying to convince the White House that the 28-point plan should be a starting point for Moscow-Kyiv talks. WSJ
Politico: Lawmakers say Rubio distanced US from peace plan
+ Members of Congress attending an international security forum said Secretary of State Marco Rubio called them to say the Americans did not instigate the proposal.
+ US lawmakers attempted Saturday to reverse days of confusion around a leaked peace plan for Ukraine, saying Secretary of State Marco Rubio assured them the document does not represent the Trump administration’s position.
+ Rubio called the bipartisan delegation to the Halifax International Security Forum on Saturday afternoon, they said, while en route to Geneva for talks with Ukrainian officials. He described the plan as a Russian proposal, they said, and not a US initiative.
Trump issues an ultimatum to Ukraine: His latest peace offer fulfills Vladimir Putin’s wishes and leaves Kyiv with a terrible choice. WSJ-Editorial
Bloomberg: Ukraine seeks NATO-like shield from US, counter-plan says
+ Ukraine and its European allies will insist that discussions with Russia on any territorial swaps can only take place once the war ceases along the current line of contact.
+ Their response to the US plan asks for a security guarantee from Americans that mirrors NATO’s Article 5 mutual-defense clause and demands that frozen Russian assets be used to reconstruct and compensate Kyiv.
+ The European response rejects Moscow’s demands that Kyiv cede unoccupied territory in the east and proposes that other sanctions would be lifted in phases if Russia abides by the deal.
Zelensky may never have faced a more agonizing choice: US officials tell me Trump’s peace plan is flexible, but a painful decision lies at its core. David Ignatius
In his tightest corner yet, will Zelensky rise to the occasion? Over nearly four years of wartime leadership, analysts say the Ukrainian leader has repeatedly played weak hands wisely. A US peace plan may be his biggest test. NYT
Trump says Zelensky can agree to peace plan or ‘fight his little heart out’: The comment is part of a White House push to get Ukraine’s leaders to agree to a 28-point plan for ending the war that has drawn criticism, including from GOP lawmakers, for being favorable to Moscow. WP
War in Ukraine: Europe's race against time to try to rewrite Trump's plan: Officials from the United States, Ukraine, Germany, France, the United Kingdom, and the European Union are set to meet in Geneva on Sunday, November 23, to discuss a document drawn up by Washington that carries a November 27 deadline. Le Monde
Donald Trump’s peace plan would be bad for Ukraine, Europe, and America: It is a sad mix of naked opportunism and strategic myopia. Economist
Ukraine needs Russia’s frozen $200 billion immediately, Europe: With Trump seeking Kyiv’s capitulation to Russia, now is the moment for decisive European action. Max Boot
The walls are closing in on Zelensky: Ukraine faces a triple threat amid growing casualties, a corruption scandal, and a peace plan that amounts to capitulation. Colin Freeman
Fiona Hill, geopolitical strategist: 'The US is giving Russia tremendous influence over Europe': According to the former Trump adviser, 'This White House wants Ukraine to capitulate to Russian demands to end this war, without proper consideration of all the factors at play.' Le Monde
How Trump turned European diplomacy into a cycle of flattery and humiliation: To maintain a transatlantic relationship seen as essential, Europe has adapted to the US president's unpredictable demands, even at the risk of slipping into servility. Le Monde
Japan's pacifism put to test amid tensions with China: By emphasizing the dangers facing the archipelago, Japan's right wing seeks to stoke public anxiety in order to justify expanding the country's military capabilities. Philippe Pons
Japan confirmed that deployments of missiles near Taiwan were proceeding as scheduled.
China’s risky challenge to Japan — and the US: The diplomatic rift between Beijing and Tokyo is also a test of Washington’s appetite for engagement with the region. FT
The failed crusade to keep a rare-earths mine out of China’s hands: The failure of one Western company to build a China-free rare-earths supply shows how Beijing has come to dominate the supply. WSJ
Economist Philippe Aghion: ‘Macron’s legacy will be better than people think’: France’s new Nobel laureate on stimulating growth, the power of creative destruction — and why Karl Lagerfeld helped him with his homework. FT
How the US tried to undermine the G20 summit in South Africa: Washington is boycotting the event taking place in Johannesburg. Yet despite intimidation from Trump, South Africa has pushed ahead with its agenda. Mathilde Boussion
G20 adopts declaration despite US boycott: DW reports it is unusual for world leaders to adopt a declaration at the start of the G20. Officials from G20 summit host South Africa said Washington had pressured them not to adopt a declaration in its absence.
COP30 ends with a whimper: The climate conference acknowledged that more climate action is needed, then failed to provide it. Economist
Brazil's ex-president Bolsonaro placed in preventive detention following an astonishing escape attempt: Le Monde reports under house arrest as he pursues his final appeals against a conviction for attempting a coup, the far-right former president tried to burn through his electronic ankle monitor. He has since been placed in isolation.
Trump’s tariffs hand Lula a political gift in Brazil: WSJ reports the Brazilian president defied Washington’s attempts to use tariffs to save Jair Bolsonaro, Trump’s right-wing ally, from jail—and the US relented.
We analyzed 5,000 calls to find out what CEOs really think about tariffs: Trump’s trade war is a pain, but less so than many executives expected. WSJ
White House considers leaflet drop to pressure Maduro on his birthday: WP reports the Trump administration has proposed a psychological operation to demoralize the Venezuelan leader and encourage him to flee the country, according to people familiar with planning.
What does US 'terrorist' designation for Venezuela mean? AFP reports Washington's designation of an alleged Venezuelan cartel as a foreign terrorist organization (FTO) takes effect on Monday, opening the door to new forms of US pressure on President Nicolas Maduro.
Brazil 'very concerned' about US naval build-up near Venezuela: AFP reports Brazil is "very concerned" about a US military build-up near Venezuela, fearing a conflict, President Luiz Inacio Lula da Silva said Sunday, adding he intended to speak with US counterpart Donald Trump about it.
Here’s how to make Argentina grow again: The country needs more from the US than a $20bn swap agreement. Laurence Kotlikoff
Milei (finally) divides to conquer: In his first two years in office, Milei united rather than divided the opposition. His all-out attack on “the caste” earned him many enemies and virtually no friends. But everyone likes a winner. Marcelo J. García
Milei puts military back in charge of defence after 42 years of civilian rule: BAT reports President Javier Milei names Lieutenant General Carlos Presti, current head of the Army, as Argentina’s new defence minister; Opposition criticises move as "step backwareds"; Since December 1983, when Raúl Alfonsín began his Presidency following the end of military dictatorship, all post-holders have been civilians.
The ambiguities of the 'Generation Z' movement in Mexico: Driven by a billionaire at odds with Mexican President Claudia Sheinbaum's government, a movement calling itself 'Generation Z' brought tens of thousands of people together for a protest against insecurity and corruption on November 15 in Mexico City, ending in violent clashes with the police. Le Monde
Canada, India renew talks for comprehensive trade deal: G+M reports Ottawa suspended talks after going public with RCMP allegations that the Indian government was behind the assassination of Hardeep Singh Nijjar.
No more feminist foreign policy, Carney says: G+M reports Prime Minister Carney, who made the comments at the G20 summit in Johannesburg, has placed less emphasis on feminist policies than the Trudeau government.
Export-Import Bank to spend $100bn to achieve US energy dominance: FT reports new chief floats deals in Egypt, Pakistan, and Europe as the agency backs away from renewables under Donald Trump.
Epstein is a failure of the 21st-century elites: What the story is really about is unloved girls, let down by parents and ‘the people who run things.’ Peggy Noonan
Epstein, Trump, and the era of elite impunity: Democrats don’t need to pick and choose among the administration’s many sins. They all tell the same grim story. TNR
Is Trump starting to correct his course? He’s made wise moves on the Epstein files and tariffs. What’s next? Healthcare. Karl Rove
Trump shows his power, and Greene reveals his weakness: As the president forced a onetime loyalist from Congress, her defiant departure signaled a coming debate over Republican identity in a post-Trump era. NYT
What Trump’s Mamdani praise — and MTG’s ouster — says about MAGA’s future: A whirlwind Friday is the freshest reminder that the MAGA movement has always been defined more by id than ideology. Politico
Everyone is talking about the ‘affordability crisis.’ It can’t be solved. President Trump and New York Mayor-elect Mamdani both campaigned on affordability, but the issue is amorphous and poorly defined. Greg Ip
Trump’s love-in with NYC mayor-elect has America asking ‘is Mamdani a Republican?’ The president and the democratic socialist were remarkably cordial in the White House. Was it a ploy to rock Mamdani’s standing among progressives? Katy Balls
Trump's odd day: Enthralled by Socialist Zohran Mamdani and abandoned by MAGA lawmaker Marjorie Taylor Greene: The US president lavished praise on New York City's mayor-elect during a White House visit on Friday. Almost simultaneously, one of his most fervent allies announced her resignation from the House of Representatives, formalizing her break with the Republican leader. Le Monde
The surprising issue driving a wedge between Trump and his MAGA base: President Donald Trump’s attempt to block states from regulating AI sparked pushback from Republicans concerned the tech will displace workers and harm kids. WP
Trump’s big problem is not Epstein — it’s the AI bubble: The US economy, and by extension the president’s fortunes, are becoming reliant on one new technology. What happens when the boom busts? Katy Balls
Why Republicans are fighting about the Nazis: Tensions over right-wing antisemitism have burst to the forefront of Republican politics, and show signs of becoming a fierce point of contention in the midterms and beyond. NYT
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 president is losing control of himself: Donald Trump’s outbursts on social media this week were different than usual. Tom Nichols
Did Trump lead the GOP into a gerrymander trap? Texas’ redistrict prompts retaliation from California—and may be undone by a federal court ruling. Matthew Continetti
Congress Turns Chaotic as Lawmakers Target Each Other: WSJ reports House leaders want to change the rules to rein in censure votes after week of fighting.
In the House, censures proliferate, reflecting a poisonous climate: NYT reports formal reprimands, once rare, dominated the chamber’s agenda this week, prompting lawmakers in both parties to call for changes to the way the House handles such actions.
Patel under scrutiny for use of SWAT teams to protect his girlfriend: NYT reports the FBI's director’s travel on government jets has contributed to growing questions inside the administration about whether he is using taxpayer-funded resources inappropriately.
The case of a felon who paid lobbyists nearly $1 million to seek a Trump pardon: WSJ reports nursing home magnate Joseph Schwartz was sentenced in April to three years for defrauding the government of $38 million. Seven months later, Trump pardoned him, but the White House denies a lobbying tie.
Comey prosecution on the ropes after series of missteps: WSJ reports a rushed process and departure from protocol have hurt the case, former prosecutors say.
It’s called the ‘six-year itch.’ Democrats hope it favors them for the Senate. The sixth year of a presidency typically produces brutal results for his party in Senate races, but everything about Trump is unconventional. WP
How Rubio’s political fate is entangled with Maduro’s: The US move against Venezuela’s dictator is resonating in Florida, home to a key political constituency of the Secretary of State. Politico
AOC built her own political machine. Now she’s deciding her next move. Seven years after Rep. Alexandria Ocasio-Cortez leapt onto the national stage as an outsider, she’s learned an inside game and is considering a run for Senate or president. WP
‘The History of the Peloponnesian War’ review: Warrior and witness: The Athenian patrician Thucydides began writing the history of his city’s conflict with Sparta even as the war was beginning. WSJ
The Thucydides Trap is coming for America Lydia Polgreen
Best books of 2025: From our own stable: From political history to football fever, books by FT journalists and editors. FT
Best books of 2025: Politics: Gideon Rachman selects his must-read titles. FT
The owner of the Daily Mail agreed to buy the Telegraph, a rival British newspaper, for £500m ($654m).
Eli Lilly becomes first pharma group to join $1tn club: FT reports shares have soared almost 40% this year over strong demand for weight-loss and diabetes drugs.
Moderna is most shorted stock in S&P 500 as Americans skip jabs: FT reports maker of COVID-19 shots has slumped since pandemic as people turn against vaccines.
Taco Bell knows exactly what you want to eat at 2 am: Liz Matthews is considered the GOAT of new product ideas, testing hundreds to develop viral hits like Doritos Locos Tacos and Baja Blast. WSJ
Korean noodle makers ride K-pop boom to grow global share: Nongshim, Samyang build more factories and expand into new markets. Nikkei
‘The next China is China’: Estée Lauder chief doubles down in the east: Stéphane de La Faverie remains committed to country at centre of beauty group’s recent troubles. FT
BHP Group has made a fresh takeover approach to Anglo American Plc in a move to disrupt the London-listed miner’s combination with Canada’s Teck Resources Ltd., the latest twist in a wave of consolidation sweeping the industry.
AI investors want more making it and less faking it: The artificial-intelligence industry took Silicon Valley’s hustle mentality to an extreme—and investors are catching on. WSJ
Insurers retreat from AI cover as risk of multibillion-dollar claims mounts: AIG, Great American, and WR Berkley seek permission to limit liability from AI agents and chatbots. FT
Behind the AI bubble, another tech revolution could be brewing: Today’s eye-popping valuations are based on the assumption that LLMs are the only game in town. Gillian Tett
What OpenAI did when ChatGPT users lost touch with reality: In tweaking its chatbot to appeal to more people, OpenAI made it riskier for some of them. Now the company has made its chatbot safer. Will that undermine its quest for growth? NYT
How the internet rewired work—and what that tells us about AI’s likely impact: Pundits in the late 1990s offered all sorts of predictions about how the internet would affect jobs. For the most part, they were way off. WSJ
Don’t expect AI to disrupt Google’s monopoly on search: A judge said artificial intelligence would upend Google’s dominance, but two new books argue that monopolies rarely fix themselves. Bloomberg
Inside the world of AI song-making: Big hits and a 7-figure deal: At least 10 songs made with music-generating technology have charted recently. WSJ
Why are so many pop stars trying to win over country fans? Ask Shaboozey. For years, the country music star struggled to stake a claim to the version of himself that now seems inevitable. NYT
20 years of Spotify — who’s winning, losing, and making money? The streaming giant has revolutionised music and created a new generation of stars. But why are British artists struggling? We talk to its Swedish founder Daniel Ek and industry insiders. The Times
Robert Propst invented the cubicle. But don’t blame him if you hate it. The much-derided office workstation originally was designed to accomplish the opposite of what it became. WSJ
The Beatles Anthology — and why the band are in legacy overdrive: Their ‘end’ was declared long ago — so why are the Fab Four back with a new compilation album and documentary? FT
‘Wings’ review: Paul McCartney’s wandering star: For McCartney, post-Beatles life didn’t mean a retreat from the business of rock ’n’ roll. With a new band, he got on the bus. WSJ
Friendology: The science of friendship: Why do we like the people we like? Suzanne Degges-White
Real Madrid plots ownership shake-up to stay ahead of Premier League rivals: Member-owned Spanish club could bring in external investors as some fans voice opposition to idea of a stake sale. FT
Real Madrid presented plans to sell a 5% stake as part of a long-standing strategy to welcome external investors.
Lando Norris disqualified as Max Verstappen win blows title race wide open: The Times reports McLaren blunder causes Norris and Oscar Piastri to fail post-race car checks – with skid plank infringement of only 0.12mm for Norris — as Verstappen moves to within 24 points of lead.
Formula 1: Verstappen wins Las Vegas Grand Prix as McLarens are disqualified: Le Monde reports a fifth straight Formula 1 title is now within Max Verstappen's grasp after the disqualifications of Lando Norris and Oscar Piastri, which cut his deficit to Norris to just 24 points with two races left.
Ukraine-born Aonishiki wins sumo tournament, 1st from war-torn country: Nikkei reports the wrestler expected to receive promotion to ozeki, the 2nd-highest rank.
Imperious Shiffrin swoops to 103rd win at Gurgl: AFP reports American skier Mikaela Shiffrin picked up a record-extending 103rd World Cup victory when she posted the quickest time in both runs of the women's slalom at Gurgl on Sunday.
The Anglo-Australian drift: Two increasingly different countries are contesting the Ashes. Janan Ganesh
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | November 21
*** 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