Giant money managers catch Washington heat
Forget the median voter. This election is about the marginal voter now.
The World at a Glance
Updated 6:30pm EDT
1
Global public debt will likely surpass $100 trillion this year, the IMF said, as government borrowing reaches 93% of worldwide GDP.
2Saudi Arabia’s Crown Prince Mohammed bin Salman will attend a first-of-its-kind EU-Gulf summit Wednesday, with talks focused on trade, investment, and security.
3Israel’s Netanyahu reportedly told US President Biden that Israel’s response to Iran’s attack will focus on military rather than oil or nuclear targets.
4Senior US officials warned Israel arms shipments may be delayed if the country doesn’t work to improve the flow of aid to Gaza.
5Canada-India ties hit a new low after Ottawa accused a top Indian diplomat of being involved in a ‘campaign of violence’ against separatists.
6Internet Archive is back after hackCanada accuses Indian diplomats of involvement in violent campaign against separatists
Ottawa’s accusations marks a serious escalation in the diplomatic row between the two countries.
A Sikh temple in British Columbia. Chris Helgren/Reuters.Global government debt to surpass $100 trillion for the first time
The International Monetary Fund report comes ahead of a US election where both candidates’ policies could add trillions to the country’s debt.
Gary Cameron/File Photo/ReutersAnalysis: A path to a Gulf-Lebanon rapprochement
Ties with Beirut — strained by Hezbollah’s role as an Iranian proxy — can be reset, but it would require bold decisions from a more reasonable Shia strongman.
Amr Abdallah Dalsh/ReutersChina conducts Taiwan drills in warning against ‘independence’
Heightened tensions along the Taiwan Strait, through which more than a fifth of global maritime trade passes, could be devastating for the world economy.
Dado Ruvic/Illustration/ReutersAD
On both sides of the Atlantic, the voting habits of ethnic minorities are changing
Traditionally left-leaning parties can no longer rely on the long-standing support of ethnic minority voters.
Jonathan Drake/ReutersNigerian airline CEO faces new US charge in $20M fraud case
US authorities charged the owner of Nigeria’s largest airline with obstruction of justice.
Anna Zvereva/Wikimedia CommonsIsrael expands Lebanon offensive as Iran warns of ‘no red lines’
International leaders have criticized Israeli strikes in Lebanon in recent days that injured United Nations’ peacekeeping forces.
Mohammed Yassin/Reuters
politics
A boat near a reception camp for migrants brought from Italy to Albania. Florion Goga/Reuters
REUTERS/Piroschka van de Wouw
Illegal border crossings in Europe, US plummet amid crackdowns
In the European Union, irregular crossings fell by 42% in the first nine months of this year compared to 2023, new data showed.
A boat near a reception camp for migrants brought from Italy to Albania. Florion Goga/ReutersForget the median voter. This election is about the marginal voter now.
A dwindling pool of undecided voters means both campaigns are going to make some unconventional pitches.
REUTERS/Piroschka van de WouwDemocrats insist they can win the Senate. It’s going to take some big surprises.
The party is turning to states like Texas and Florida for an upset that would give them a shot at retaining their majority.
Kamala Harris accused of plagiarism in 2009 book
A handful of background passages in her crime policy book contained language from other sources without quote marks.
Climate disasters bring new dimension to US presidential race
Kamala Harris and Donald Trump’s campaigns are pushing to distinguish their candidate’s records against the other’s, particularly in crucial swing states.
Senate Republican super PAC aims $6.6M in new money at Wisconsin
Democratic Sen. Tammy Baldwin was considered relatively safe in the state up until the last few months.
The pollster who sold Joe Biden to Gen Z breaks down the youth vote today
John Della Volpe talks to Americana about his research for Harvard’s Institute of Politics on under-30 voters.
What does Ruben Gallego know about Arizona that Kamala Harris doesn’t?
The charismatic veteran is winning big in polls without alienating progressives or GOP-trending Latinos.
Barriers and Breakthroughs: Building the Future U.S. Manufacturing Workforce
What role should government and businesses play to train the current and next generations?
Why Kamala Harris’ Pennsylvania chances are tied to a statewide dynasty
Sen. Bob Casey, the son of a popular former governor, is fighting for a fourth term against a Republican challenger who’s openly celebrating the retirement of Joe Biden.
Rahm Emanuel pitches an economic coalition against ‘isolator’ China
The US ambassador to Japan wants to dissuade Beijing from using trade restrictions and debt to pressure countries.
business
World Economic Forum/Manuel Lopez
Giant money managers catch Washington heat
BlackRock and Vanguard are under scrutiny by banking regulators who think they’re too big and too progressive.
World Economic Forum/Manuel LopezGlobal government debt to surpass $100 trillion for the first time
The International Monetary Fund report comes ahead of a US election where both candidates’ policies could add trillions to the country’s debt.
Fed’s 2% inflation target is ‘sacrosanct’ — and here
Chicago Fed President Austan Goolsbee on Jerome Powell (a “first-ballot Hall of Famer”) and why declaring victory on a soft landing is misleading.
Blackstone, BlackRock eye private-fund stakes
The business of Wall Street firms buying pieces of each other is booming.
EU taps Emanuele Tarantino as new chief competition economist
The Italian academic is tasked with guiding the bloc as it tries to balance reining in Big Tech with innovation.
technology
Flickr
George Frey/Reuters
Google turns to nuclear energy to power AI data centers
The tech giant signed a deal with Kairos Power, which will provide it with its first small nuclear reactor by 2030.
FlickrMicrosoft Azure CTO: US data centers will soon hit size limits
As data centers grow in size, connecting multiple sites for a single training run may soon be necessary.
George Frey/ReutersVinod Khosla on OpenAI, national security and AI’s climate impact
Khosla says the next wave of technology, driven by generative AI, may have the biggest impact on humanity yet.
US weighs breaking up Google, a move that could transform tech
The Justice Department may ask a federal court to force the tech giant to divest parts of its business, such as its Chrome browser and Android operating system.
AI pioneers win Nobel Prize in Physics
Scientists John Hopfield and Geoffrey Hinton were lauded for creating tools that underpin today’s machine learning.
Google ordered to open up Android app store in latest legal blow
Alphabet, Google’s parent company, faces numerous legal challenges in the US that, together, threaten its core business.
net zero
Bing Guan/File Photo/Reuters
Octavio Jones/Reuters
Marco Bello/Reuters
It’s a golden age for climate PR firms
Climate comms shops are trying to help their clients avoid greenwashing, but fossil fuels remain an elephant in the spin room.
Bing Guan/File Photo/ReutersHurricanes’ multibillion-dollar insurance bill presents a ‘reckoning’ for US lawmakers, businesses
The toll could affect the entire country’s economy through the end of 2024, Federal Reserve officials warned.
Octavio Jones/ReutersClean energy needs new strategies to survive climate change
Hurricane Helene exposed how vulnerable the clean energy system is to extreme weather.
Marco Bello/Reutersgulf
Saudi Press Agency/Handout via REUTERS
Saudi’s Mohammed bin Salman to attend EU-Gulf summit
The summit, set to open Oct. 16 in Brussels, is the first of its kind between the European Union and Gulf leaders.
Saudi Press Agency/Handout via REUTERSAnalysis: A path to a Gulf-Lebanon rapprochement
Ties with Beirut — strained by Hezbollah’s role as an Iranian proxy — can be reset, but it would require bold decisions from a more reasonable Shia strongman.
The Arabian Peninsula’s Golden Age
Inside the region’s bold transformation.
Abu Dhabi stakes claim on ‘capital of capital’ as world’s richest city
With $1.7 trillion in assets managed by sovereign wealth funds, the Emirati capital has overtaken Oslo.
Israel launches major strikes on Beirut ahead of Oct. 7 anniversary
The balance of power in the Middle East has been indelibly altered in the year since Hamas attacked Israel.
africa
NASAAnna Zvereva/Wikimedia Commons
Falling cost of space flight makes room for African companies
More than a dozen African nations have already sent objects into space as part of international missions, despite the continent having no launch facilities.
NASANigerian airline CEO faces new US charge in $20M fraud case
US authorities charged the owner of Nigeria’s largest airline with obstruction of justice.
Anna Zvereva/Wikimedia CommonsWhy Tanzania is doubling down on elephant hunting
Tanzanian authorities want to issue more hunting permits despite international pressure for the country to ban elephant trophy hunting in areas near its border with Kenya.
Cameroon won’t say where the president is
Cameroon’s nonagenarian President Paul Biya hasn’t been seen in public for the last 30 days, stoking speculation in the Central African country.
The fate of Kenya’s impeached deputy president hangs in the balance
The future of Kenya’s deputy president, Rigathi Gachagua, hangs in the balance after Kenya’s senate confirmed on Wednesday that it will investigate an impeachment trial against him.
Ethiopian lawmakers choose new president
Sahle-Work Zewde, a former diplomat who became Ethiopia’s first female in 2018, has been replaced by the foreign minister, Taye Atskeselassie.
media
Smith Collection/Gado/Getty Images
Inside Condé Nast’s Gaza war
The magazine publisher’s head of diversity quietly stepped down in June amid internal tensions over the war.
Smith Collection/Gado/Getty ImagesMatthew Segal on how ATTN will be the ‘HBO of short-form’
A Q&A with the head of the short-form video company.
Telegraph bidder scrambles for investors
The £550 million deal is in the balance.
Daily Mail adds Kellyanne Conway, Michael Wolff
The British publication is breaking its share of US election news.
Mixed Signals: Media Bias from the Middle East to Manhattan, with The Economist’s James Bennet
Ben and Nayeema take on the question of bias in the media — a conversation that always seems timely, but especially so right now.
security
REUTERS/Mahmoud Issa
Liesa Johannssen/Reuters
Artillery fired by the Israeli Army into Lebanon from northern Israel. Jim Urquhart/Reuters
US puts pressure on Israel to up Gaza aid with arms delay warning
Top US officials have given Israel a month to improve the flow of aid to Gaza or risk delayed arms shipments, The Washington Post reported.
REUTERS/Mahmoud IssaEU set to renew training mission for Ukrainian soldiers
The European Union’s mission has trained more than 60,000 Ukrainian soldiers so far.
Liesa Johannssen/ReutersIsrael vows revenge on Iran as diplomacy falters
After pledging a “significant retaliation” on Tehran, Israeli officials banned the UN secretary general from entering the country.
Artillery fired by the Israeli Army into Lebanon from northern Israel. Jim Urquhart/ReutersAD