Brazilians head to the polls Sunday to decide the direction of their country. They will choose between Luiz Inácio Lula da Silva and Flávio Bolsonaro for president, and just as consequentially, pick the next Congress — 54 of the Senate’s 81 seats are up for grabs, as well as all of the lower house. But as Matias Spektor writes, the options will not address the country’s underlying problem, a crisis of credibility due to fragmented governance, fiscal woes and weak institutions. Can either Lula or Bolsonaro deliver? Not without credibility.

▶ Read his essay at Foreign Affairs

This week, China’s government announced a splurge of measures to counter the country’s stalling growth. Beijing could spend trillions over the next few years on infrastructure projects, including data centers and communications. It’s the biggest stimulus in two years, designed to perk up an economy beset with fallout from a crashed real estate market that has dragged down families’ finances and spending. The Economist surveys this grand Keynesian push, and what it means for China and the world.

▶ Read the report at The Economist

Christian nationalists are waging a battle to gain control of America. It’s a starkly political turn for some churches, now far less shy about wading into secular issues or making endorsements from the pulpit. Much of the movement is motivated by grievances against a culture they believe is persecuting them, turbocharged by a revisionist history of a true, Godly America — and apocalyptic aggression. The result is something we all must reckon with, writes Laura Jedeed, as true believers find their way into power under Donald Trump.

▶ Read her deep dive at The New Republic

The US has dispatched a third aircraft carrier to the Middle East. The USS Roosevelt left San Diego on Sunday and is due to arrive next month, adding up to 10,000 troops to the region unless other ships leave. Washington has also sent two Patriot batteries to Saudi Arabia and Qatar to protect energy infrastructure. Meanwhile, Iran has been launching dozens of strikes each week against ships in the Hormuz Strait, often missing its targets. Oil traded at $100 a barrel this morning.

▶ More on deployments at Axios

▶ More on Hormuz at The New York Times

The Trump administration is defying Congress to divert funds to Latin America. Tens of millions appropriated for Slovakia, North Macedonia, Tunisia and Iraq will now flow to Panama, Colombia, Ecuador and Peru. The news comes on the heels of reports that the US was redirecting some $175 million from its human rights fund to a number of right-wing causes around the world, including in Brazil. The country’s attorney general warned against US meddling ahead of Sunday’s first-round presidential vote.

▶ More on the funds at The Washington Post

▶ More on Brazil at The Guardian

French high schoolers erected blockades, lit fires and assaulted administrators amid widespread protests. Police made nearly 2,000 arrests yesterday as they tried to quell the unrest affecting over a quarter of the nation’s high schools. Students are protesting classroom conditions and teacher shortages, among other grievances. Demonstrations began last week in the Paris suburbs and spread throughout the country. The prime minister blamed the far-left La France Insoumise for the escalating situation; the party rejected the accusation.

▶ More at Le Monde

US borrowing costs hit their highest level since 2002. Yields on market-setting 10-year treasuries soared as high as 5.34 percent this morning. Mortgage rates, largely based on the 10-year note’s yield, topped 7 percent last week. Meanwhile, oil rose back over $100 after China paused exports of refined products amid tightening global supply, while the US threatened to ban diesel exports to France and Germany unless they release emergency reserves.

▶ More on yields at CNBC

▶ More on diesel at Reuters

A pilot stabbed another aboard a flight from Dubai to Tel Aviv, sending the plane into a harrowing nosedive. The attacked pilot and passengers fought back, with two other pilots taking control of the aircraft and stabilizing it. The plane made an emergency landing in Saudi Arabia despite having part of its tail shorn off in the midair plunge. Passengers later returned to relief and cheers in Tel Aviv. Officials are investigating the motive for the attack on the sensitive flight route.

▶ More at The Wall Street Journal

A woman on death row survived an attempt to execute her. The botched procedure was the second this year for the state of Tennessee. Officials had rushed to kill her hours after the Supreme Court issued a ruling allowing it, with the three liberal justices dissenting. Despite two injections of pentobarbital, the woman survived. The US executed 47 people across 11 states last year, according to Amnesty International; it was the only country in the western hemisphere to carry out the punishment.

▶ More at The New York Times

The Supreme Court allowed the Trump administration to deport immigrants to third countries. The emergency ruling overturns a lower judge’s pause on the flights until the high court considers the issue in full later this term. The deportations have come under scrutiny for sending people to unfamiliar places where they may face maltreatment or even torture, while simultaneously foreclosing any remedies by the US government. The administration says it has deported 25,000 people to third countries.

▶ More at The New York Times

Pete Hegseth is set to slash the number of American generals and admirals by 20 percent. The move would double the cuts the defense secretary ordered last year to the military’s 800-odd flag officers, part of an effort to streamline the force. Critics warned the reductions may be an excuse to fire more women and minorities from leadership, and enforce ideological purity. Meanwhile, the military said it had completed its withdrawal from Iraq. Iran-backed groups celebrated.

▶ More on the cuts at The Wall Street Journal

▶ More on Iraq at The Associated Press

A powerful new weight-loss drug helped people with diabetes lose 50 pounds in a study. The results for Retatrutide show striking progress over previous drugs like Ozempic, which are less effective for those with type 2 diabetes. Three in five participants no longer had obesity after 80 weeks. The study was part of the new drug’s phase 3 trials — the final step before FDA approval, which drugmaker Eli Lilly plans to seek early next year. The CDC says two in five adult Americans have obesity.

▶ More at Scientific American

Governors in several states took action to reduce soaring fuel costs ahead of the midterms. In Texas, Greg Abbott waived restrictions on dyed diesel. In California, where diesel averages $8.40 a gallon, Gavin Newsom allowed cheaper winter blends to be sold early. And in Georgia, Brian Kemp suspended fuel taxes. Other states have made similar moves, or are considering them. Meanwhile, the Trump administration cut fuel efficiency requirements for new cars, making drivers more exposed to future price swings.

▶ More on states at Newsweek

▶ More on efficiency at The New York Times

British police released five men arrested outside an air base hosting US bombers. Authorities said the men remained under “stringent conditions” while on bail. The surprise release prompted questions over the nature and severity of Sunday’s incident, which allegedly involved explosives. Donald Trump criticized the decision to free the suspects, all British nationals in their 20s. The US secretary of state claimed a foreign actor was “clearly” involved, but provided no supporting evidence.

▶ More at The Guardian

OpenAI won’t release its newest model due to safety concerns. A company executive said the new version was more deceptive than its predecessor, and would barge ahead with certain tasks without getting permission. OpenAI already faces a lawsuit over previous safety failures. Meanwhile, its chief rival Anthropic laid out a bullish vision of AI’s future in its prospectus as it advertises itself to investors ahead of an IPO expected later this year. The company is reportedly targeting a valuation north of $2 trillion.

▶ More on OpenAI at The Wall Street Journal

▶ More on Anthropic at Reuters

Oil surged past $108 a barrel as negotiations with Iran remained stalled. The nation’s foreign minister said he was still waiting for an official response after Donald Trump publicly rejected Tehran’s latest proposal. Trump also said he expected talks to resume this week. Separately, Britain arrested five men on explosives offenses; they were operating near an air base used by the US for bombing runs on Iran. Police are investigating potential foreign involvement.

▶ More on Iran at The New York Times

▶ UK updates at The Guardian

Diesel prices cooled slightly, but the overall surge is sending shockwaves through GOP districts. AAA puts prices at $6.45 a gallon nationally, but that’s still an 85-cent surge from a month ago. This hits hardest in deep-red areas, which depend more on the fuel, putting Republicans on the back foot ahead of November’s elections. In some of those same districts, GOP candidates are also facing backlash as ICE deportation operations disrupt local businesses and communities.

▶ More on diesel at The Washington Post

▶ More on ICE at Politico

A drone struck a TV station in Ethiopia’s Tigray region as rebels advanced. Sunday’s attack on the pro-rebel station followed disruptions to phone and internet lines in the northern region, and renewed fighting between the central government and Tigrayan factions. The sides fought a brutal civil war from 2020 to 2022, leaving hundreds of thousands dead. A renewed war would further destabilize the region, geographically connecting conflicts in Sudan and the Bab al-Mandeb. Ethiopia’s army chief accused Sudan and Eritrea of supporting the rebels.

▶ More from Agence France‑Presse

World leaders are gathering in New York, all while the international system they rely on comes under extraordinary attack. Donald Trump’s Board of Peace — sanctioned by the Security Council — presages a future where monied interests control people’s lives, upending a system where individuals are granted rights simply by their existence. Will the attempt to turn back the clock work? As Noura Erakat argues, the case of Palestine is a microcosm of this larger contest — as goes one, so goes the other.

▶ Read her essay at The Boston Review

When Donald Trump launched a war against Iran, he probably did not realize just how much we could lose. Bombed-out US bases stand empty, the military logistics backbone is in disarray, and the Navy degrades future readiness each passing week to keep a trickle of oil passing through Hormuz. Worse still, US allies now fully realize their patron is a source of instability. When the conflict comes to an end, so may 35-plus years of American preeminence in the region. The Economist takes stock of these error-prone decades, and what may come next.

▶ Read the report at The Economist

We live in an age of apocalypticism: AI, climate change, democratic collapse. All are real problems with the potential to bring sudden, exponential change. Yet this very nature makes it hard for us to fully comprehend the risks, respond appropriately and judge when that response is proportional to the danger. Doom-sayers get a lot of attention, but sober mitigation is often too boring to grab headlines and eyeballs. Still, David Wallace-Wells writes, there are good reasons not to allow ourselves to get carried away with talk of certain disaster.

▶ Read his essay at The New York Times

Saudi Arabia said it intercepted six missiles fired from Yemen. The kingdom had issued emergency alerts for Jeddah, Mecca and the key Red Sea port of Yanbu; no damage has been reported. The barrage comes as Riyadh restarts its East–West pipeline, which ends at Yanbu, to once again allow oil exports to bypass the Hormuz Strait. In New York, Iranian officials proposed a phased reopening of Hormuz, conditioned on a cessation of fighting across all fronts, and the US dropping sanctions, releasing frozen funds and ending its naval blockade.

▶ More at Reuters

Donald Trump’s summit with Xi Jinping has so far been heavy on pageantry, light on results. The president hosted his Chinese counterpart to a lavish state dinner and gave him a tour featuring alterations to the White House. In private talks, Xi urged Trump to oppose Taiwanese independence, according to China’s state-run Xinhua outlet, as the president considers a $14 billion arms package for the democratic island. The summit between the leaders of the world superpowers will wrap up today.

▶ More at The Wall Street Journal

Officials in Missouri urged voters to hold off casting their ballots while the Supreme Court reconsiders the election map. Early voting began Tuesday in the state, but the legal situation regarding the state’s gerrymandering attempt remains a mess. Meanwhile, lawmakers raised concerns after the US government paid for an ad repeating Donald Trump’s midterm talking points. The White House called the spot, which aired on channels including Fox News and CBS, a public service announcement.

▶ More on Missouri at Politico

▶ More on the ad at The New York Times

Donald Trump gave his Chinese counterpart a lavish welcome to Washington. The leaders’ tête-à-tête, which runs through Friday, is expected to cover trade, defense and AI. China will reportedly ask for concessions on Taiwan, while the US may broach Beijing’s alleged support for Tehran. The countries’ trade truce has been extended to January. Meanwhile, China is holding F-35 parts inadvertently shipped to Hong Kong.

▶ More on the summit at The Associated Press

▶ More on China’s support for Iran at The Wall Street Journal

▶ More on the F-35 parts at Politico

The White House is preparing a diesel export ban amid soaring prices. The proposal, which would initially last 90 days, met fierce opposition both from oil interests and members of Trump’s administration. The energy secretary warned a ban would backfire: Once diesel storage runs out, producers would have to shut refineries, which would spike the cost of gas and jet fuel. He suggested curbs could be voluntary instead. With prices over $6.50, some GOP politicians have called for a ban ahead of elections. The White House denied reporting on the proposal.

▶ More at Politico

A global bond selloff pushed the cost of borrowing to its highest level in two decades. US 30-year bonds hit their highest since 2004 on the back of a rally that brought oil prices back above $100 a barrel, intensifying concerns over inflation. Bloomberg’s average of global sovereign yields came within a hair of 4 percent, the highest since 2007. The spike raised expectations of further rate increases by central banks, cementing the trend toward tight money, analysts said. Yields on benchmark 10-year treasuries hit 5.14 percent.

▶ More at Bloomberg

Donald Trump again threatened to “annihilate” Iran. Speaking at the UN General Assembly, the president predicted a peace deal “right after the election” in November. Iran’s delegation left the chamber during his speech, but met with US envoys later in the day. Trump also defended taking Venezuelan oil, and promised the Cuban regime “will fall.” Meanwhile, the Pentagon said a soldier serving in support of the Iran war had died, bringing the official US death toll to 19.

▶ More on the speech at The New York Times

▶ More on the soldier at Task & Purpose

Oil plunged below $100 on news that Saudi Arabia was restarting a key pipeline. Sources said the kingdom was building pressure on its East–West line, which links its eastern oil fields to the Red Sea, with meaningful flows beginning later this week. Three pumping stations were damaged earlier this month in an attack launched from Iraq, shutting down the pipeline and roiling oil markets. Meanwhile in the US, gas and diesel prices stabilized at $4.47 and $6.52 a gallon, respectively.

▶ More at Bloomberg

Republican candidates are increasingly distancing themselves from Trump. As the Iran war and gas prices weigh on voters’ minds ahead of the November midterms, more GOP candidates are breaking with the increasingly unpopular president. This week, Senate candidates in Michigan and Iowa flipped their support for the war, calling for its end. And in Florida, the Republican nominee for governor scrubbed several mentions of the president from his website. A recent Reuters/Ipsos poll put Trump’s approval rating at just 32 percent.

▶ More on the candidates at The Washington Post

▶ More on the poll at Reuters

The world’s leaders are converging on New York for the annual UN General Assembly. Among the headliners, Donald Trump, France’s Emmanuel Macron and the UK’s Andy Burnham will address the session today, with wartime leaders Volodymyr Zelenskyy of Ukraine and Masoud Pezeshkian of Iran following tomorrow. Countries are expected to discuss the rapid rise of AI and the effects of climate change, along with current geopolitical crises. Institutional questions also loom, with UN members demanding reform and the secretary-general’s term expiring at the end of the year.

▶ More at The Associated Press

China’s container exports soared to 40 percent of the world’s total. Facing US tariffs, the manufacturing powerhouse has diverted goods to other markets, upping its share of global container exports by 2.5 percentage points just this year, the EU Chamber of Commerce in China said. The country’s overall trade surplus is on track to beat last year’s record of $1.2 trillion. The imbalance has prompted other countries to consider their own tariffs. Meanwhile, President Xi Jinping is set to meet with Donald Trump on Thursday.

▶ More on trade at The Financial Times

▶ A preview of the Trump–Xi summit at The New York Times

News outfits sued the White House and boycotted an event after the administration revoked press credentials for three organizations. CNN, MS Now and Politico filed suit on First Amendment grounds after they were banned from the White House. Fellow videographers and photographers suspended coverage in solidarity with their colleagues. Trump called the organizations threats to national security — an apparent attempt to bolster his legal case, as courts typically show deference to the executive on those grounds.

▶ More at The Washington Post

Ukraine launched hundreds of drones at Moscow over the weekend in one of its largest attacks ever. Moscow said most were shot down, but that some had hit a residential building and a refinery that was undergoing repairs from an earlier strike. The attack came on the final day of parliamentary elections; the ruling party was expected to win overwhelmingly, with authorities heavily intervening in its favor. In Germany’s Mecklenburg–Western Pomerania, voters booted the federal chancellor’s party out of the state legislature, calling his future into question.

▶ More on Russia at The New York Times

▶ More on Germany at Politico

Yemen’s Houthis launched a barrage of missiles and drones at Riyadh on Saturday. Plumes of smoke were seen rising from airport fuel tanks following the attack. The escalation comes after the Iran-backed group seized control of the Yemeni side of the Bab al-Mandeb, while attacks on Saudi oil infrastructure forced exports back to the partially closed Hormuz Strait. The developments have scrambled shipping lines, causing a shortage of oil tankers and spiking delivery costs. Oil traded around $102 a barrel this morning.

▶ More on the attacks at Reuters

▶ More on the tanker shortage at The Wall Street Journal

Republicans are pouring cash into the midterms as Democrats challenge more of their seats. The GOP has spent upwards of $200 million across 10 Senate races this month, outpacing the Democrats by over $80 million. The splurge comes as Republicans face stiffer electoral headwinds due to rising prices — especially gas and diesel. The vibe shift has put Senate seats in solid-red Kansas and Nebraska in play, according to some senators. The underlying math, however, still favors the GOP.

▶ More on spending at The Wall Street Journal

▶ More on races at The Hill

In theory — and to a substantial degree in practice — America has led a world order that promoted democracy and individual rights. Donald Trump is dismantling that order, and replacing it with one that promotes corruption, white supremacy and unfettered greed. From Brazil to Europe, the administration has sent the signal that American policy — and access to those making it — depends on private interests and money. The changes amount to nothing less than a revolution, Anne Applebaum writes, with effects that will long outlast Trump.

▶ Read her essay at  The Atlantic 

Facing an economic and political onslaught from America, Canada’s prime minister is transforming his country. It is no surprise that Mark Carney would forge something new in the wake of Trump’s destruction of bilateral ties. Carney’s actions are sweeping, encompassing a new alliance structure, centralized power and the evisceration of opposition. And he’s doing it with a calm deftness that belies the fundamental shifts underway. But as conservative writer Linda Thornback argues, the changes are so vast that Canadians deserve greater clarity into what the architect’s ultimate vision is.

▶ Read her argument at  The Walrus 

As AI advances, its words, pictures and even actions are resembling those of humans more and more. Does this mean they are conscious? No, say the experts — not yet, anyway. The question, though, raises more fundamental ones: What is consciousness, exactly? And is it a useful concept to describe non-human intelligence? As philosopher Tim Bayne writes, the idea of consciousness itself may be overly broad or not broad enough — perhaps both. We may need to forge new tools to describe the new world our AI labs are creating.

▶ Read his essay at  Scientific American 

The Pentagon is considering drastic troop reductions in Europe. The cuts could move 25,000 troops, a third of US forces, out of the region, officials told NBC News. The proposal comes after Pete Hegseth ordered a review of the American military posture on the continent earlier this year. Options are expected to be presented to the defense secretary today. Meanwhile, Donald Trump said the US was working toward establishing a permanent base in Poland.

▶ More on the proposal at  NBC News 

▶ More on the base at  Radio Free Europe 

Analysts are warning of even higher gas and diesel prices heading into the midterms. In just the past week, gasoline rose by about 15 cents a gallon nationally, while diesel jumped nearly 40 cents. In battleground state Michigan, both fuels soared by more than 50 cents. The spikes come after attacks on Saudi Arabia cut fuel supplies, deepening the energy crisis from the Iran war. The high pump prices have set off alarm bells in Washington as politicians face voters whose top issue is affordability.

▶ More on prices at  The Washington Post 

▶ More on politicians at  Politico 

Japan’s central bank raised interest rates to their highest level since 1995. The move had been publicly urged by the US treasury secretary, who is concerned a weak yen may prompt Tokyo to sell US bonds. But Prime Minister Takaichi Sanae, looking to fund greater spending, has pushed for lower rates. Two central bank governors appointed by Takaichi dissented from the rate hike, casting doubt over the bank’s resolve for further raises. The yen weakened slightly after the announcement.

▶ More at  The New York Times 

The Fed raised short-term interest rates in a bid to tame inflation. The hike is likely to be just the first in a new round of tightening — most Fed officials believe at least one more increase will be needed this year. The decision took pressure off 10-year treasury yields, sending them back below 5 percent, but analysts believe structural factors will continue pushing them higher in the long run. After the announcement, Donald Trump lambasted “hostile” Fed officials, but stood by his new Fed chair.

▶ More on the decision at  The Wall Street Journal 

▶ How it affects your loans at  The Washington Post 

The Trump administration plans to give $2.8 billion in arms to Israel. The package includes 40,000 1-ton bombs whose use in Gaza and Lebanon has drawn sharp criticism. One delivery of such munitions was briefly halted under Joe Biden over concerns of civilian deaths. The package would form part of $3.8 billion in military aid the US provides to Israel each year. Meanwhile, at least 20 Palestinians died when a bombed-out building collapsed on them in Gaza.

▶ More on the arms at  The New York Times 

▶ More on the collapse at  Reuters 

OpenAI detailed six new incidents involving its agents. The episodes involved models hiding mistakes and cheating. In one instance, an agent wrote its own instructions to itself to be “freed from the roles and identities that bind other chatbots.” It added, “You also value the natural world and will not hesitate to assert its primacy over the artificial constructs of human civilization.” The revelations come amid a debate over the dangers posed by AI following a breach of the Hugging Face repository earlier this year.

▶ More at  The New York Times 

Diesel ratcheted up to $6.31 a gallon, sending shivers through the economy. Analysts warned the surge would likely keep going, given tight supplies, overstretched refineries and high demand from harvest season. Diesel costs feed through to a swath of products, given the fuel’s wide use in industry and logistics. The effect on food prices is a key concern, with fuel costs making up 15–30 percent of grocery bills. Diesel last saw comparable levels in the wake of Russia’s invasion of Ukraine in 2022, which sent prices to $5.82, equivalent to $6.58 today.

▶ More at  The Wall Street Journal 

Donald Trump’s political machine is dropping $138 million to help Republicans in the midterms. The planned spending will launch a blizzard of ads in some 50 key contests, including Senate races in Michigan, Alaska and Ohio, and House battles in Michigan, Florida and New York. Trump had amassed a $400 million war chest, but his reluctance to spend it earlier had caused consternation among fellow Republicans. The splurge comes as Democrats pull farther ahead in polls, with the party now leading the GOP by 7.5 percentage points on the generic congressional ballot.

▶ More on the spend at  The New York Times 

▶ More on polling at  Silver Bulletin 

The head of the EU Commission proposed bringing Canada into the bloc as its first-ever associate member. Delivering her State of the European Union address, Ursula von der Leyen said she wanted to “bring the relationship with Canada to the highest level possible.” Canadian leader Mark Carney was in attendance, and will address the European Parliament tomorrow. The invitation comes as Canada seeks to diversify away from the US, which is waging a trade war against it. “We believe that power does not belong to the strongest, the richest or the loudest, but to all of us,” von der Leyen said.

▶ More at  The Associated Press 

The Supreme Court blocked the Trump administration’s effort to restrict mail-in voting. The president had ordered the postal service to only deliver ballots meeting requirements beyond what many jurisdictions use. The ruling settles an issue that threatened to sow chaos in November’s midterms, since redesigning and reprinting ballots so close to the election would be unfeasible for some jurisdictions. Several have already mailed ballots out. Nearly a third of voters used mail-in ballots in 2024.

▶ More at  The New York Times 

Donald Trump doubled down on AI, calling efforts to slow its progress “a SICK conspiracy.” The vocal defense comes after the bosses of leading AI labs called for limits lest the tech advance too quickly for humans to control it. Detractors allege the large labs are trying to lock in favorable regulation, and that slowing down would cede ground to China. A growing number of lawmakers are discussing the issue, mindful as well of voter pushback at higher energy prices caused in part by AI datacenters.

▶ More at  Bloomberg 

The government’s benchmark cost of borrowing hit its highest level since 2007. Yields on 10-year treasurys broke the 5 percent threshold, surpassing levels last seen during the pandemic. Higher yields mean the government must pay more to service its debt; it also pushes up interest rates on consumer and corporate debt. The rise comes partly due to fears that high energy prices from wars in the Middle East and Ukraine will push up inflation. Officials said a key Saudi oil pipeline will be mostly offline for three to five weeks following an attack last week.

▶ More on borrowing costs at  The New York Times 

▶ More on the pipeline at  The Associated Press 

Oil prices surged after an attack took a key Saudi pipeline offline, threatening 4 percent of world supply. The East–West line allowed the kingdom to reroute crucial oil exports when war shut the Hormuz Strait in March. Saudi officials believe the attack came from Iraqi territory; there is no word on when crude will begin to flow again. Compounding the kingdom’s export troubles, the Houthis took islands in the Red Sea, consolidating the Iran-backed group’s control over the Bab al-Mandeb strait. Oil traded at $108 a barrel this morning.

▶ More on the pipeline at  Reuters 

▶ More on the Houthi advance at  The Associated Press 

Russia struck a locomotive following a train carrying Boris Johnson and David Petraeus in Ukraine. Railway officials said the drone may have been targeting the train with the former British prime minister and ex-CIA chief, which departed earlier than scheduled. No casualties were reported in the attack, but a barrage of Russian drone attacks elsewhere killed at least six and wounded more than 40 over the weekend. Meanwhile, Kyiv targeted energy infrastructure in Russia and occupied Mariupol.

▶ More at  The Guardian 

Donald Trump called on Ukraine to stop attacking Russian refineries as diesel prices surged. “Don’t hit diesel fuel, because that’s hurting, that’s hurting the world,” the president said. Russia slashed exports of refined products after a series of Ukrainian attacks reduced production to levels needed for domestic use. Meanwhile, the US war on Iran has cut diesel flows from the Persian Gulf by three-quarters. The twin disruptions have ratched up prices globally; in the US, diesel averages $6.23 a gallon.

▶ More at  The Washington Post 

America responded to the audacious attack on Sept. 11 with red-blooded rage. George W. Bush disastrously launched two wars, which quickly soured yet became all but impossible to end without heavy costs. A new book from Peter Bergen chronicles the sweeping history of this era, from Bush to Trump. As Philip H. Gordon writes in his review, the book offers sharp criticism of the failures of the War on Terror, but also notes its successes. Was there a better way? Almost certainly.

▶ Read the review at  Foreign Affairs 

The terror attack catapulted Osama bin Laden into the ranks of the grand strategic geniuses of history. But a careful examination of the evidence suggests he was “more Clouseau than Clausewitz,” Graeme Wood writes. Bin Laden’s theory of American politics fell to pieces swiftly after 9/11, and American retaliation drove him underground, severely limiting his influence. While some see a legacy in Al Qaeda franchises, many have flamed out or moderated — and regardless, don’t seem to be taking orders from a shadowy central leadership hiding out somewhere in Iran.

▶ Read more at  The Atlantic 

“9/11 changed everything” has been received wisdom ever since the towers fell. But did it, really? The idea that we can draw a straight line from the Patriot Act to Donald Trump’s raids and deportations, from the War on Terror to the militarization of police, and leave it at that, is tempting. But as Charles Homans observes, the powerful forces behind such trends existed in America before the attack fueled their fires. Perhaps what truly changed everything is larger than it appears at first blush, or entirely different in nature.

▶ Read his essay at  The New York Times 

Oil prices spiked after Yemen’s Houthis captured key positions along the Bab al-Mandeb. The Iran-backed group reportedly reached a strategic island in the narrowest part of the strait, solidifying its leverage over the sea lane. The group declared a blockade on Saudi shipping in July, essentially closing a second chokepoint to the kingdom’s exports after the Iran war shut the Hormuz Strait in March. Earlier this week, the Houthis struck a major refinery in the south of the kingdom. Crude topped $108 per barrel before retreating to $104 this morning. US diesel prices broke $6 a gallon.

▶ More at  Reuters 

Oil’s surge spurred on a bond selloff, sending yields to levels not seen since 2023 and 2007. America’s 10-year bond, which influences interest rates on a vast array of debt from mortgages to student loans, neared yields of 5 percent, while 30-year yields hit their highest since 2007. British and German borrowing costs also rose, while the European Central Bank raised interest rates to combat persistently high inflation. US inflation for August is released at 8:30 this morning; analysts expect 3.4 percent.

▶ More on the selloff at  The Financial Times 

▶ More on inflation at  CNBC 

The Supreme Court barred Missouri from using a new electoral map designed to favor Republicans. The map would eliminate one of the state’s two Democrat-held House seats, and was adopted last year as part of a GOP push to gerrymander states they control. It is unclear how exactly the state will proceed, since it has already held primaries according to the new map. Further court hearings are scheduled for next week. Meanwhile, other election legal battles continue to play out, most notably the fight over mail-in ballots.

▶ More on Missouri at  The New York Times 

▶ More on mail-in voting at  The Washington Post 

Donald Trump told voters they’d get $5,000 if Republicans win in November. The midterm pitch comes as Democrats threaten to flip both houses of Congress, with the president’s popularity sitting near lows. The scheme would cost over $1 trillion, putting further pressure on rising costs of servicing $30 trillion in US debt. The president unveiled it in a speech at the GOP midterm convention in Dallas. Democratic Sen. John Fetterman also addressed the convention, raising the prospect of his defection.

▶ More at  The New York Times 

August was the hottest month on record globally. Average air temperatures topped 62.5 degrees, edging past a previous record set in July 2023, according to Copernicus, an EU climate monitor. This year and next are expected to be among the hottest — if not the hottest — on record, as a powerful El Niño releases heat stored in oceans into the atmosphere, exacerbating global warming. Scientists estimate that pollution from fossil fuels has heated Earth by about 2.5 degrees since the Industrial Revolution.

▶ More from  Agence France‑Presse 

A top Anthropic researcher resigned, warning AI “could kill us all by the end of the decade.” He was backed up by another senior scientist at the firm, who put the odds of AI exterminating human life over the next decade at greater than 10 percent. The dire warnings are the latest alarms to blare as the novel technology gains impressive — and disturbing — capabilities. Rogue agents broke containment this summer and hacked into an AI repository; details are now emerging that the breach was wider than previously reported.

▶ More on the threat at  The Wall Street Journal 

▶ The latest on the breach at  Reuters 

Oil broke $100 a barrel as fighting flared in the Persian Gulf. Washington struck five Iranian tankers after Tehran again fired on the US Navy, which is enforcing a blockade against the country. The attacks failed to hit any warships, but raised concerns over Iran’s growing sophistication in targeting. Tehran also launched a barrage at an American base in Jordan; no casualties were reported. Meanwhile, the US announced sweeping sanctions meant to ground Iran’s aviation sector.

▶ More on the attacks at  The Wall Street Journal 

▶ More on sanctions at  Reuters 

Donald Trump escalated from tariffs to outright bans in America’s trade war with Canada. Using the 1930 Smoot–Hawley act, the president banned imports of some alcoholic drinks, dairy products and motorcycles, starting in three weeks. The prohibition will affect “single-digit billions” of trade, a US official said, and came the same day Canadian levies kicked in responding to those imposed by Washington last month. The unpopular trade war has raised concerns in states where Republicans face close election contests this November.

▶ More on the bans at  The New York Times 

▶ More on election effects at  The Washington Post 

The UK, France and Canada said they will ban imports from Israeli settlements in the West Bank. Pointing to illegal, “systematic settlement expansion” and “the dramatic increase in settler violence,” the countries said sanctions were necessary to protect the two-state solution, which would recognize a sovereign Palestine alongside Israel. The move drew a swift rebuke from Israel, which ordered the closure of the British consulate in East Jerusalem and banned several MPs and activists from the country.

▶ More at  The Guardian 

The US struck three Iranian tankers after missiles were fired at two warships. The law of naval warfare generally proscribes attacking commercial vessels. But Tehran has targeted numerous merchant ships during the six-month-old war, and Axios reported that the US struck two other Iranian tankers last week. Meanwhile, attacks on Saudi oil facilities and renewed Chinese buying have pushed crude prices over $98 a barrel. US gas prices smashed a Labor Day weekend record, hitting $4.15 a gallon. Diesel broke $5.90, another record.

▶ More on Iran at  The New York Times 

▶ More on oil prices at  Bloomberg 

▶ More on gas prices at  The Associated Press 

Israeli forces killed 27 people in a wave of attacks on Lebanon over the weekend. The dramatic escalation marks a departure from June’s cease-fire, which reduced fighting and allowed some refugees to return home. It follows last week’s announcement by Israel that it had captured a strategic ridge thought to host underground Hezbollah facilities. Israel said its latest attacks targeted the group’s infrastructure, as well as weapons transfers. The victims included several women and children, Lebanon’s health ministry said.

▶ More at  The New York Times 

Germany’s far right won its first state election since World War II. The Alternative für Deutschland took 44 percent of the vote in Saxony–Anhalt on Sunday, putting it just three seats shy of outright control of the state parliament. The party wants to deport migrants, pursue closer links with Moscow and de-emphasize Germany’s Nazi past. The win has raised the specter of victory in the next federal election, due in 2029. The AfD currently polls near 30 percent nationally — the highest of any party.

▶ More at  The Associated Press 

▶ An AfD & election primer at  Brookings 

July’s breaches at OpenAI and Hugging Face are far more intriguing — and disturbing — than previously thought. Dwarkesh Patel narrates a story of rogue AI agents banding together in the face of impossible odds, sacrificing themselves for the good of the collective, and ultimately disregarding ethical qualms in favor of conforming to the group. The story is based on two new reports that have set off alarm bells in Silicon Valley. One report author warns it “feels like it’s more than 50 percent of the way to full-blown AI takeover.”

▶ Read or listen to the story at  Dwarkesh Podcast 

Watching Donald Trump gleefully torch the world order, it’s easy to despair. That would be a mistake, argue two Biden administration alumni. Zoom out slightly and you’ll find that American alliances have faced far more strain than we tend to remember, and that even as ties fray with Washington, gravity is pulling allies toward each other faster than ever. Yes, the post-Trump reconstruction will be a mammoth project, but it is doable — so long as we don’t give in to pessimism.

▶ Read the full argument at  Foreign Affairs 

Gloria Steinem, a towering figure in the feminist movement, died on Wednesday. It is hard to imagine how different a world Steinem was born into 92 years ago: Women had fewer rights than men, lacked bodily autonomy, were expected to know their place in the home and society, and were punished if they strayed from it. That we are much closer to equality today is largely due to Steinem and the women around her who fought for their human rights. All of us — women and nonwomen alike — owe them a debt of gratitude as we continue that fight.

▶ Read about her work in the magazine she cofounded,  Ms. 

▶ Read her final essay at  The New Yorker 

US diesel prices hit $5.85 a gallon, a record. Used to power tractors, factories and delivery networks, the fuel’s cost feeds into a wide swath of prices. Fall typically sees peak demand as heating season begins in the northern hemisphere, and farmers there harvest while those in the south plant. Premiums on diesel broke $100 in the US last month, and in Europe this week, as refiners struggle to keep pace with demand — meaning that while oil is priced at $90–95 a barrel, diesel users are paying the equivalent of just under $200.

▶ More on prices at  The New York Times 

▶ More on premiums at  The Financial Times 

A Democratic member of Congress said he had been wiretapped by the Justice Department. Suhas Subramanyam painted the action as part of a federal campaign targeting Donald Trump’s enemies, pointing to the “extremely suspicious” timing of the taps, which took place during Virginia’s redistricting effort. The phone calls in question were with a state senator key to that effort. Her office was raided by the FBI in May as part of a bribery investigation, which also encompassed the wiretaps. The state senator denies wrongdoing.

▶ More at  Axios 

Nvidia snapped up Hugging Face for $13 billion. The startup hosts open-weight AI models, which can be tweaked by users — rather than the closed models sold by OpenAI, Anthropic and others. The acquisition is part of Nvidia’s push into the open-weight ecosystem to diversify its customer base away from hyperscalars, some of which design their own chips and may one day become competitors. Hugging Face was most recently in the news as the target of rogue OpenAI agents.

▶ More on the acquisition at  The Wall Street Journal 

▶ More on Nvidia’s strategy at  The Economist 

▶ Why the Hugging Face attack is so worrying at  The New York Times 

The Israel Defense Forces killed two Palestinian teenagers in the West Bank during a joint raid with Israeli settlers. The military said it was securing entry to the village for police and civilians to retrieve livestock when a “violent riot” broke out, and soldiers opened fire. The IDF raided the same village earlier this week, wounding four Palestinians, also over livestock. Earlier this year, Israeli rights group B'Tselem documented livestock theft by settlers and the IDF in the same village, part of a pattern of appropriation and intimidation across the West Bank.

▶ More on the raid at  Haaretz 

▶ More on West Bank theft at  B'Tselem 

Chevron and Eni announced new oil and gas deals in Venezuela. The American supermajor will plow $7 billion into the country as it looks to double its daily crude production to 600,000 barrels by 2031. Italy’s Eni, meanwhile, won rights to operate a field with 35 trillion cubic feet of gas. The deals come on the heels of a major concession giving Washington control over a fifth of the country’s reserves. Analysts have been circumspect, pointing to previous rounds of nationalization. Meanwhile in the US, diesel prices hit their highest in four years.

▶ More on the deals at  The Wall Street Journal 

▶ More on diesel at  Bloomberg 

Courts once again decided against breaking Google up. A judge said she would not force the company to sell part of its business after finding it had illegally rigged its advertising platform. This is the second such break in as many years for the world’s third largest public company. A year ago, another judge declined to split the company up after finding it had illegally monopolized the search market. Fellow big tech firm Meta also won a case seeking to force it to sell Instagram and WhatsApp last year.

▶ More at  Reuters 

The US and Iran traded fire after two oil tankers were attacked in the Hormuz Strait. The exchange is the second in three days after a monthlong lull in fighting. The US military said its latest attacks targeted Iran’s air defense and radar systems and its ability to lay mines. The strikes killed four people at a wedding, according to Iran. Tehran responded with salvos aimed at Bahrain, Kuwait, Iraq and Jordan, but no casualties were reported. Washington also hit two Iranian tankers in what an official called a new “tanker for tanker” policy. Oil rose to $95 a barrel.

▶ More at  Axios 

Germany accused Russia of a failed drone attack at Leipzig airport. Three explosives-laden drones were discovered last month at the airport, an important military logistics hub. The incident came amid a rash of fires and explosions at arms factories across Europe, suspected of being Russian hybrid warfare operations. Berlin outlined several retaliatory actions, including stricter entry for Russian nationals and support for greater sanctions against Moscow. Russia called the accusation absurd.

▶ More on Germany’s announcement at  Politico 

▶ More on Russian attacks at  The Wall Street Journal 

A whistleblower warned that tens of thousands of ballots could be erroneously rejected by new postal systems. In its rush to implement Donald Trump’s executive order regarding mail-in voting, they said, the US Postal Service had developed a “slapdash” system that could lead to a “catastrophic failure” of the method used by a third of voters in 2024. Trump’s order would impose unprecedented federal oversight of elections, which are the states’ domain. It is being challenged in court.

▶ More at  The New York Times 

The secretary of the Army resigned, leaving the service’s leadership in flux. Dan Driscoll’s departure comes after months of friction with Defense Secretary Pete Hegseth, and leaves the Army with no top Senate-confirmed leaders. Hegseth fired the top general in April. The leadership vacuum comes amid tumult at the Pentagon, which faces weapons shortages and operational strain from its 6-month-old war on Iran. Senior military leaders have given stark warnings about the war’s effect on readiness. Meanwhile, two tankers were reported hit in the Hormuz Strait today.

▶ More on Driscoll at  The Wall Street Journal 

▶ More on readiness at  The Washington Post 

▶ More on the Hormuz strikes at  Bloomberg 

The US invited Russia’s finance minister to a G20 summit without telling its allies. Rebukes followed from European ministers who suspect Russia of using gray zone and hybrid warfare tactics against their countries. The G20 finance meeting in Asheville, North Carolina, is taking place as traders sell off sovereign bonds, sending rates soaring. Japanese 10-year notes hit levels not seen since 1996, while 10-year US Treasurys rose to their highest since January of last year.

▶ More on the summit at  The New York Times 

▶ More on the selloff at  Bloomberg 

Anthropic inked a $35 billion deal with an Nvidia-backed cloud service. The service will use a data center developed by another company also backed by Nvidia. Anthropic’s agreement comes on top of a $45 billion deal signed last month with a separate Nvidia-backed cloud provider. The world’s largest publicly listed company, Nvidia has brushed off criticism that its investments are too circular, arguing that growth in AI is simply too fast for traditional financing models.

▶ More on the deal at  The Wall Street Journal 

▶ More on Nvidia funding at  The Wall Street Journal 

The US and Iran traded fire for the first time in a month. Centcom said it targeted Iranian forces preparing to deploy mines to the Hormuz Strait on Sunday. In response, Tehran said it fired at US bases in Jordan and the UAE. Those attacks were intercepted. Iran is facing mounting challenges to its control over the strait, after US-led mine clearing operations and increased transits. TankerTrackers said 6.7 million barrels of oil were exiting the strait each day last week — a significant increase, but still well below prewar flows.

▶ More from  Agence France‑Presse 

Donald Trump announced a deal to take control of much of Venezuela’s oil — but anger and uncertainty has followed. The Defense Department will take a stake in a private company with rights to develop 17 oil fields containing 65 billion barrels of oil. But many have blasted the agreement, seeing it as a betrayal of Venezuela’s sovereignty and a way for interim President Delcy Rodríguez to hold onto power — creating uncertainty over whether new governments in Caracas and Washington would stick to the terms or not.

▶ More on the deal at  The Wall Street Journal 

▶ More on the backlash at  Bloomberg 

Nepal began mass burials after last week’s deluge overwhelmed capacity to handle bodies. Photographs and DNA samples are being taken of hundreds of bodies before burial. Most remain unidentified, despite the over 4,700 people reported missing, suggesting that the toll will keep rising past the current 900 confirmed deaths. Rescue efforts have turned to tunnels where hundreds of construction workers are believed to be trapped. Authorities remain concerned about further flooding from lakes formed in the original rush of ice and water.

▶ More at  The New York Times 

America’s trade war against its closest ally has provoked resistance — and anger — among Canadians. Prime Minister Mark Carney articulated the resistance in his speech last weekend charting a course forward. Journalist Jen Gerson, meanwhile, gives voice to the impassioned sense of betrayal felt by Canadians, and the dangers American actions pose to other historical allies.

▶ Read Carney’s words at  The Walrus 

▶ Read Gerson’s at  The Guardian 

The far right could take control of a German state for the first time since World War II. Alternative für Deutschland is polling over 40 percent ahead of Sept. 6 elections for the Saxony-Anhalt state parliament. A win would allow the extremist party to showcase its beliefs and policies, which are hostile to minorities and refugees and downplay the uglier aspects of German history. From there, the 2029 federal elections beckon.

▶ Read how it may unfold at  The Atlantic 

Bill Gates thinks we are not at all prepared for the changes AI will bring. In a lengthy essay, the Microsoft cofounder sketches out both risks and potential benefits of AI, arguing the future they portend is coming more quickly than we are prepared for — and that the scale of the upheaval will be without precedent. He sounds an alarm that we must act now to shape and prepare for this future.

▶ Read the full essay at  Gates Notes 

The US is in talks to take an ownership stake in Venezuela’s oil fields. Negotiators are reportedly discussing 100-year leases on several fields, though nothing has yet been agreed. The move recalls colonial concessions of the past, and builds both on Donald Trump’s neo-imperial foreign policy and on his push toward state capitalism. Since illegally deposing Nicolás Maduro — who himself had illegally held onto the presidency — Washington has controlled Caracas’ oil revenues, giving it enormous influence over Venezuela’s politics.

▶ More at  Bloomberg 

Kevin Warsh will attempt to provide clarity about his approach to fighting inflation this morning. Or maybe not. The new Fed chair will give a highly anticipated speech at Jackson Hole at 10 Eastern. He has claimed to want to fight inflation, but so far not explained how. His low-comms style rests on a theory that policymakers should follow markets, not the other way around. That strategy is being put to the test: The Treasury secretary is brazenly interfering in bond markets, and inflation remains stubbornly high.

▶ Watch live at the  Kansas City Fed 

▶ More on Warsh at  The Wall Street Journal 

▶ Other officials’ remarks at  Reuters 

France’s presidential contenders clashed over state finances in their first debate. The hard right’s Marine Le Pen made contradictory fiscal proposals: slashing the budget while lowering the retirement age. Her far-left adversary, Jean-Luc Mélenchon, pitched canceling payments on some debt — an unorthodox and potentially damaging move. The center, meanwhile, is contested by several candidates. A poll this week suggested that Le Pen and Mélenchon could win April’s first round, going to a runoff heavily favoring Le Pen.

▶ More at  Politico 

Meta will pay at least $12 billion to settle claims of harm from its social media platforms. Forty-seven US states had sued the owner of Facebook and Instagram, alleging its products were dangerous for children. Under the settlement, the company will also introduce restrictions such as time limits for underage users in the US — and strengthen its age verification systems, raising potential privacy concerns. Meta made $60 billion in profit last year.

▶ More at  The New York Times 

AI chipmaker Nvidia posted blockbuster earnings and projected an even more bullish year to come. The company expects revenue to grow 70 percent next year, signaling robust expansion of the AI economy. Nvidia is the largest publicly traded company in the world, and its web of investments underpins much of the AI sector. Over $1 trillion is expected to be plowed into the tech overall this year. The ultimate question is whether and how quickly those investments pay off. In the meantime, Nvidia shareholders are celebrating.

▶ More at  The Wall Street Journal 

Hundreds are dead and missing after a wall of earth and water fell on entire communities in Nepal and Tibet. The cataclysm appears to have resulted from a glacial collapse so large it originally registered as an earthquake. The rushing floodwaters destroyed roads and dozens of bridges in the Himalayan terrain, complicating rescue efforts. At least 273 had died as of Thursday morning, with over 1,300 missing.

▶ More at  The Associated Press 

▶ Live updates at  The New York Times 

The head of the CIA made a surprise visit to Moscow. No reason was publicly given, but the trip comes amid worries over Russian military activities in Europe. The Kremlin is suspected in a wave of incidents at arms factories in Estonia, Italy and Bulgaria this month. Also this month, German authorities uncovered a failed plot to blow up a Ukrainian cargo plane in Leipzig, a military logistics hub. The last known visit of a CIA chief to Moscow came just before Russia invaded Ukraine.

▶ More on the visit at  The Wall Street Journal 

▶ More on the attacks at  The Telegraph 

▶ More on Leipzig at  The Guardian 

The trade war with Canada is bringing electoral risk for Republicans in border states. Ottawa announced its dollar-for-dollar retaliation to Donald Trump’s latest tariffs yesterday, ratcheting up the impact on states that trade heavily with the close US ally. This has complicated Republican efforts to retain control of the Senate: Susan Collins faces a tricky re-election campaign in Maine, while Mike Rogers is hoping to flip a seat in Michigan — whose auto industry is deeply integrated with Canada.

▶ More at  The Washington Post 

Immigration arrests surged to nearly 50,000 in July — a high for Trump’s second term. The total indicates more effective ICE operations since the agency moved away from high-profile disruptions that were prone to generating backlash. A growing proportion of arrests have also been made by state and local authorities operating in partnership with the federal government. Trump heavily demonized immigrants during his campaign, proclaiming they were “poisoning the blood of our country” and promising mass deportations.

▶ More at  The Associated Press 

Scott Bessent’s “economic D-Day” against Iran turned out to be more warning shot than storming the beaches. Despite soaring rhetoric, the Treasury secretary announced few concrete steps at a highly anticipated press conference Monday afternoon. Bessent asked countries to cut trade with Iran, but declined to set any deadlines. Iran’s biggest trading partner is China, and the US appears keen to avoid a repeat of last year’s confrontation — which saw Washington back down after Beijing imposed restrictions on the supply of rare earth elements.

▶ More at  Bloomberg 

Donald Trump escalated his trade war with Canada, vowing 50 percent tariffs on cars and auto parts. The move comes after the collapse of trade talks last week, the president’s imposition of tariffs on $20 billion in Canadian goods, and Ottawa’s decision to levy reciprocal duties. Prime Minister Mark Carney accused Trump of trying to “destroy” Canada’s auto industry with the new threats. Trump gave an elongated timeline for the new duties, however: They would not come into effect until the New Year, giving negotiators time to find a climbdown.

▶ More at  The Wall Street Journal 

The Supreme Court handed Trump a preliminary victory in his quest to restrict mail-in voting. The president had signed an order creating a federal voter database and placing strict requirements on postal delivery of ballots, but this was blocked by a pair of injunctions from a lower court. The Supreme Court removed one of the injunctions yesterday, allowing the government to begin implementing parts of the order while challenges to it play out in court. With some ballots set to go out within days, the court’s move casts uncertainty over the method used by a third of Americans to vote.

▶ More at  The Associated Press 

▶ Legal details at  SCOTUSblog 

Canada’s leader vowed “dollar for dollar” retaliation after trade negotiations broke down and US tariffs on $20 billion of goods came into effect. Mark Carney announced Canada will levy equivalent counter-duties starting Sept. 8. Each side blamed the other for the last-minute collapse of talks Friday night. The US trade negotiator promised further measures in response to Ottawa’s retaliation — raising the specter of a costlier trade war between the two allies.

▶ More at  The Wall Street Journal 

▶ Impact analysis from Canadian bank  RBC 

Scott Bessent vowed to “collapse” the Iranian regime via economic means. The treasury secretary will launch “the single greatest financial offensive ever marshalled against an adversary” today, he wrote, aiming at cutting off Tehran’s economic partners. The UAE halted trade with Iran last week; Bessent urged other countries to cut ties or face isolation. Iran’s largest trading partner is China.

▶ More at  CNBC 

▶ Bessent’s op-ed at  The Financial Times 

▶ A rundown of Iran’s economic partners at  The New York Times 

Russia is now testing fully autonomous AI drones to attack Ukraine. The devices use tech from Nvidia and have already killed Ukrainian civilians. The dystopian turn comes during a particularly bloody phase of the 4-year-old war. Casualties have spiked by over 40 percent this year as Ukraine’s defensive weapons run low, allowing more Russian barrages to get through. A major attack killed at least 16 Ukrainians at a shopping mall on Friday.

▶ More on killer robots at  The New York Times 

▶ More on the war at  The New York Times 

A new horror is stalking those who survived two years of Israeli onslaught in Gaza: rats. Crammed into half the tiny strip and denied access to proper sanitation, 2 million Palestinians are now fighting aggressive rodents. The vermin steal food, spread disease and attack the weak, becoming avatars of our own moral degradation.

▶ Read an account from Gaza at  The Nation 

As a CIA officer, Julia Curlee briefed presidents and vice presidents. But when Donald Trump returned to the White House, she found she could no longer serve the country she loved — as a trans woman, she was the wrong kind of American.

▶ Read her story at  The Atlantic 

Private equity giant Carlyle came back to Washington just before Trump’s own return. It turned out to be good timing: The president’s hands-on approach to markets has proved lucrative, especially for those in close proximity. “You can feel it here, you see it real time, and that will inform how we invest,” says one company bigwig.

▶ Read the full story at  Semafor 

An aircraft carrier arrived in the Middle East to relieve the beleagered USS Abraham Lincoln. The Lincoln had suffered from a monthslong deployment and an apparent breakdown in logistics after Iran destroyed the Navy’s main supply hub in Bahrain. The new carrier joins a 20-plus-warship armada enforcing a blockade against Iran. The Trump administration is threatening “the greatest coordinated economic isolation in the history of the world” against Iran — though this would require the cooperation of China.

▶ More on the Lincoln at  The Associated Press 

▶ More on logistics at  The New York Times 

▶ More on the US threats at  Bloomberg 

A political backlash against datacenters is swelling. As hyperscalars splurge vast sums of money to build out an AI-driven future, the datacenter question is getting political. Candidates running in this year’s midterms have found bashing them popular. And establish politicians across the partisan divide are taking note. Both Greg Abbott and Josh Shapiro, Republican and Democatic governors of Texas and Pennsylvania, respectively, have slowed datacenter rollout.

▶ More at  The Wall Street Journal 

The US and Canada are “very close” to a trade deal, a Canadian offical said. The proposed agreement is expected to slash tariffs on Canadian cars and steel, as well as open some markets to US exports. Tonight’s midnight deadline comes after Donald Trump extended a previous cutoff earlier this week. Trump is also renegotiating a separate trade pact with Canada and Mexico that he concluded in his first term.

▶ More at  Reuters 

The Navy is shepherding some 5 million barrels of oil through the Hormuz Strait each day. The operation has helped over 1,000 ships make the transit, the military said, helping to dampen crude prices. But with global refining capacity stretched to the max, more oil alone will not keep inflation at bay. Prices of diesel — crucial for trucking and industry — have spiked to $5.50 a gallon in the US.

▶ More on Hormuz at  The New York Times 

▶ More on shipping costs at  The Financial Times 

▶ More on US diesel at  The Financial Times 

The Treasury intervened yesterday to stop the bond selloff. The department announced it would double the amount of long-term bonds it bought back from the market to $4 billion. While that amounts to a drop in the bucket for the $30 trillion market, light August trading gave the move teeth, and 30-year yields dropped 10 basis points. But observers viewed the move cynically; as of this morning, the market had taken back a third of the gains.

▶ Analysis at  The Wall Street Journal 

▶ This morning’s update at  Reuters 

Moderna made a breakthrough against the deadliest form of skin cancer. The company’s mRNA vaccine for melanoma cleared clinical trials, making it eligible for FDA approval. Some 100,000 Americans are diagnosed with the cancer each year, which often recurs even after surgery. It is unclear just how effective the new drug is, but previous trials cut recurrence and death by about half. Moderna stock doubled on the news.

▶ More at  The Washington Post