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AI Summary

  • US sanctions against Russia are hitting diminishing returns, with officials admitting that effective targets for additional measures are becoming increasingly scarce amid the ongoing conflict in Ukraine.
  • A concerning surge in subprime auto loan delinquencies has reached the highest level in over three decades, highlighting the financial strain faced by low-income borrowers and young consumers amid economic challenges.
  • Verizon plans to cut approximately 15,000 jobs as it navigates difficult market conditions, marking one of the largest workforce reductions in the company's history just ahead of the Thanksgiving holiday.
  • Disney's shares have seen a significant decline due to disappointing earnings and rising film production costs, leading to concerns about its financial outlook following a quarter that fell short of revenue expectations.
  • The US government shutdown is now over, but the disruption continues with many federal services facing delays; workers are left to navigate the backlog of work and financial impacts from the shutdown's duration.

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ZeroHedge

  • US 'Running Out Of Things To Sanction' In Russia, Frustrated Rubio Admits 32 minutes ago by Tyler Durden

    US 'Running Out Of Things To Sanction' In Russia, Frustrated Rubio Admits Secretary of State Marco Rubio has made some fresh remarks to the press which reveal a deep irony while demonstrating the limited effectiveness of far-reaching anti-Moscow sanctions on the course of the war in Ukraine. The United States has nearly run out of effective targets for sanctions against Russia, he conceded in a frank moment Wednesday, coming soon on the heels of the Trump admin decision to impose new penalties on two of the country's biggest oil producers. "We’ve sanctioned their main oil firms - exactly what everyone’s been asking for,"

  • Newsom's Former Chief Of Staff Indicted On Public Corruption Charges an hour ago by Tyler Durden

    Newsom's Former Chief Of Staff Indicted On Public Corruption Charges Authored by Travis Gillmore via The Epoch Times, California Gov. Gavin Newsom’s former chief of staff, Dana Williamson, was indicted by a federal grand jury on 23 charges related to public corruption, according to a Nov. 12 statement from the Department of Justice. U.S. Attorney Eric Grant alleged that Williamson, 53, of Carmichael, California, committed bank and wire fraud, conspired to defraud the government and obstruct justice, filed false tax returns, and made false statements to investigators. “This is a crucial step in an ongoing political corruption investigation that began more than three years

  • Fetterman Hospitalized After 'Ventricular Fibrillation' Causes Fall 2 hours ago by Tyler Durden

    Fetterman Hospitalized After 'Ventricular Fibrillation' Causes Fall Sen. John Fetterman (D-PA) was hospitalized on Thursday after suffering facial injuries from a fall during a walk near his Western Pennsylvania home.  According to a spokesperson, the Democrat Senator was transported to a Pittsburgh hospital "out of an abundance of caution." "During an early morning walk, Senator Fetterman sustained a fall near his home in Braddock," a spokesperson said.  "Upon evaluation, it was established he had a ventricular fibrillation flare-up that led to Senator Fetterman feeling light-headed, falling to the ground and hitting his face with minor injuries," the statement continues. "He is doing well and receiving routine

  • Subprime Auto Delinquencies Worst In Over 30 Years 2 hours ago by Tyler Durden

    Subprime Auto Delinquencies Worst In Over 30 Years Building on the theme of low-income consumers and young people burdened by debt and affordability woes, signs of stress are continuing to emerge across the subprime tier of the auto loan space. A new Bloomberg report on Wednesday, citing data from Fitch Ratings, showed that delinquency rates on subprime auto loans surged to their highest level since 1994, with 6.65% of subprime borrowers at least 60 days overdue on payments in October. Key data from the Bloomberg report: * Subprime exposure rising: 14.4% of consumers now fall into the riskiest credit category, the highest since

  • Ugly, Tailing 30Y Auction Sends Yields Higher 2 hours ago by Tyler Durden

    Ugly, Tailing 30Y Auction Sends Yields Higher After yesterday's mediocre, tailing 10Y auction, and with yields pushing higher today, prospects for the week's final coupon auction, today's $25BN in 30Y bonds, were not too exciting. Which is a good thing because the just concluded final refunding auction was quite disappointing.  The auction stopped at high yield of 4.694%, down from last month's 4.734%, but it also tailed the When Issued 4.684% by 1.00 basis point. This was the second tail in a row, and the biggest since August when the auction tailed by 2.1bps. The bid to cover was 2.295, down from 2.382


The Guardian

  • State-sanctioned fuel smuggling cost Libya $20bn over three years – report 6 hours ago by Patrick Wintour Diplomatic editor
    Libya, Oil and gas companies, World news, Energy industry, Middle East and north Africa, Africa, Oil, Commodities

    Policy body calls for western-backed investigation into oil officials known to be at heart of illegal enterprise A surge in state-sanctioned fuel smuggling between 2022 and 2024 cost the Libyan people about $20bn (£15bn) in lost revenue – an alarming sum that demands decisive international sanctions against those responsible, according to the most comprehensive report published on how Libya’s primary revenue source has been systematically pillaged. The report by the investigative and policy body the Sentry states that “politicians and security leaders who claim to serve the public and fight organised crime have, in fact, acted as the chief architects of Libya’s

  • ‘Utter hypocrisy’: tobacco firm lobbied against rules in Africa that are law in UK 17 hours ago by Kat Lay, Global health correspondent
    Global development, Zambia, Global health, British American Tobacco, Tobacco industry, Business, Africa, World news

    British American Tobacco pushed Zambian ministers to drop or delay ad bans, health warnings and restrictions on flavoured products, letter shows British American Tobacco has been accused of “utter hypocrisy” for lobbying against tobacco control measures in Africa that are already in place in the UK. A letter seen by the Guardian, sent from the company’s subsidiary in Zambia to the country’s government ministers, asks for plans to ban tobacco advertising and sponsorship to be abandoned or delayed. Continue reading...

  • French-Algerian writer Boualem Sansal pardoned and to be released from prison a day ago by Philip Oltermann European culture editor
    Algeria, Western Sahara, France, Germany, Africa, Middle East and north Africa, World news

    Eighty-one year-old, who has prostate cancer, can now be transferred from Algeria to Germany for medical treatment The French-Algerian writer Boualem Sansal has been pardoned and is to be released from prison, the Algerian presidential office said in a statement on Wednesday. The move, which will mean Sansal can be transferred to Germany for medical treatment, comes after the German president, Frank-Walter Steinmeier, urged Algeria to free Sansal. Continue reading...

  • Dire warnings over aid and hunger following RSF’s capture of Sudanese city a day ago by Eromo Egbejule and agencies
    Sudan, Darfur, Humanitarian response, Migration, Malnutrition, Africa, Middle East and north Africa, World news, United Nations, World Health Organization

    Fears rise for displaced civilians as UN reports deteriorating situation and MSF warns of ‘staggering’ malnutrition There are grave fears for civilians who survived the capture of El Fasher by a Sudanese paramilitary group last month, as the UN warned relief operations were on the brink of collapse and an aid group said malnutrition in displacement camps had reached “staggering” levels. The Rapid Support Forces (RSF) captured El Fasher – the capital of North Darfur state and the last urban centre outside of its grasp in the wider Darfur region – on 26 October. Survivor accounts and video and satellite evidence suggest

  • The man on a mission to save Mauritania’s ‘city of libraries’ from encroaching desert sands 2 days ago by Eromo Egbejule and Ely Cheikh Mohamed Vadel in Chinguetti. Photographs by Daouda Corera
    Mauritania, World news, Libraries, Africa, Middle East and north Africa

    Desert settlement of Chinguetti faces rising sands, dwindling tourism and insecurity due to conflict in neighbouring Mali On a recent afternoon, 67-year-old Saif Islam made his way into the courtyard of a library in Chinguetti, a tiny desert settlement nestled in the Sahara in Mauritania. Decked in a flowing boubou gown striped in two shades of blue, his steps unsteady but his presence still commanding, he sat on a handwoven mat stroking his grey beard, with his black croc sandals neatly placed to the side. Continue reading...


South China Morning Post

  • Germany to ban China’s Huawei from future 6G network 2 hours ago by Bloomberg

    German Chancellor Friedrich Merz said Chinese suppliers such as Huawei Technologies will be excluded from the country’s future telecommunication networks on security grounds as he pushes for more digital sovereignty. “We have decided within the government that everywhere it’s possible we’ll replace components, for example in the 5G network, with components we have produced ourselves,” Merz told a business conference in Berlin on Thursday. “And we won’t allow any components from China in the 6G...

  • Did Italian ‘war tourists’ pay to kill civilians for sport in Sarajevo? 2 hours ago by Agence France-Presse

    Prosecutors in Italy are investigating possible Italian snipers who may have paid the Bosnian Serb army during the 1990s siege of Sarajevo to be allowed to shoot civilians for sport, local media reported. According to La Repubblica daily, the investigation opened by Milan prosecutor Alessandro Gobbis for voluntary manslaughter seeks to identify Italians who between 1993 and 1995 may have “paid to play war and kill defenceless civilians ‘for fun’”. The newspaper said the unidentified suspects it...

  • Shutdown crippled US jobs report, so no unemployment rate: Trump adviser 4 hours ago by Bloomberg

    The October jobs report will be released without a reading of the unemployment rate, President Donald Trump’s top economic adviser said on Thursday. “The household survey wasn’t conducted in October, so we’re going to get half the employment report,” National Economic Council Director Kevin Hassett said on Fox News. “We’ll get the jobs part, but we won’t get the unemployment rate, and that’ll just be for one month.” The October jobs report, originally scheduled for publication by the Bureau of...

  • ‘Compliance maze’: EU scrutiny of Huawei, ZTE, Shein ups stakes for China firms 6 hours ago by Ralph Jennings,Xiaofei Xu

    Chinese firms must be extra vigilant in Europe as policymakers there weigh tougher measures against a pair of iconic hi-tech suppliers while France has threatened to suspend fast-fashion retailer Shein, analysts say, as the moves come after a seizure of Chinese-owned chipmaker Nexperia. The European Commission’s reported plan to force member states to phase out Huawei Technologies and ZTE gear from telecoms networks could mark a fresh regulatory hurdle while serving as a warning to roughly 3,000...

  • EU to end duty-free perks for China’s Temu and Shein 6 hours ago by Agence France-Presse

    EU finance ministers on Thursday agreed to scrap a bloc-wide duty exemption on low-value orders from the likes of retail giants Temu and Shein to help tackle a flood of cheap Chinese imports. Today, there is no levy on packages worth less than €150 (US$174) imported directly to consumers in the 27-nation bloc, in many cases via Chinese-founded platforms. Member states including France and the EU executive hope the duty exemption can be done away with from the start of next year, rather than 2028...


New York Times

  • As Shutdown Ends, When Will SNAP and Air Travel Be Back to Normal? 3 hours ago by Karoun Demirjian and Eileen Sullivan
    United States Politics and Government, Shutdowns (Institutional), Federal Budget (US), Trump, Donald J, Government Employees, Wages and Salaries

    Some programs like SNAP could be restored within hours, while other effects could take longer to unravel.

  • The Shutdown Is Over. But for Federal Workers, the Anxiety Persists. 11 hours ago by Eileen Sullivan
    United States Politics and Government, Government Employees, Layoffs and Job Reductions, Shutdowns (Institutional), Food Insecurity, American Federation of Government Employees

    After being sidelined for more than a month, they are bracing for the backlog that awaits them and struggling with the financial burden of going without pay.

  • How D.C. Area Businesses Aided Furloughed Workers Amid Government Shutdown 10 hours ago by Aishvarya Kavi and Caroline Gutman
    Government Employees, Layoffs and Job Reductions, Volunteers and Community Service, Baltimore (Md), Maryland, Virginia, Washington (DC), United States Politics and Government, Shutdowns (Institutional), World Central Kitchen, Andres, Jose (1969- )

    The region was already unsettled by sweeping government layoffs and funding cuts when the shutdown started.

  • After Trump Split, Epstein Said He Could ‘Take Him Down’ 19 hours ago by David Enrich, Nicholas Confessore, Jessica Silver-Greenberg and Steve Eder
    Epstein, Jeffrey E (1953- ), Trump, Donald J, Giuffre, Virginia Roberts, Maxwell, Ghislaine, Sex Crimes, Human Trafficking, Prostitution, Child Abuse and Neglect

    Jeffrey Epstein cast himself as a Trump insider and wanted to leverage potentially damaging information about the president and his business dealings, according to emails with associates.

  • Epstein’s Emails About Trump 7 hours ago by Steve Eder, Claire Hogan, James Surdam, Stephanie Swart and Nikolay Nikolov
    United States Politics and Government, House Committee on Oversight and Government Reform, Epstein, Jeffrey E (1953- ), Trump, Donald J, Mar-a-Lago (Palm Beach, Fla)

    Our investigative reporter Steve Eder provides context about Jeffrey Epstein’s relationship with President Donald Trump based on information from over 20,000 pages of documents from Epstein’s estate released by the House Oversight Committee on Wednesday.


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