Today’s posts that caught my eye:
SpaceX looks to raise $40bn to buy Nvidia chips in financing led by Apollo: Blockbuster debt deal is the latest sign of the vast spending on chips and other infrastructure underpinning AI.
The U.S. trade deficit grew to $105.6 billion in August, up 13.7% from the previous month.
Tobias Rausch of the AfD has been elected speaker of the Saxony-Anhalt parliament, the first time a far-right party has led a state assembly since the Nazi era.
The World
Unions are joining French high school students for a national day of action as school protests continue to spread. More than 1,000 arrests and over 100 combined injuries to students and police have been reported since the unrest began over poor school conditions, university access and public-service cuts. (Le Monde)
Strikes, Barricades and Fiscal Turmoil: An Autumn of Discontent Grips France (New York Times)
French Government Is Willing to Bypass Parliament to Pass Billions in Cuts: In an interview, French Finance Minister Roland Lescure said he is open to negotiation but will do “whatever it takes” to get the budget through. (Wall Street Journal)
The European Commission has unveiled a new EU enlargement strategy addressing Ukraine and Moldova’s membership paths, calling it a “geopolitical imperative.” One new measure “aims to reduce member countries’ ability to scupper key decisions through their right of veto. Another would give the bloc stronger powers to act against future members that backslide on democratic standards after joining.” EU leaders are set to debate the strategy at their October 15-16 summit in Brussels. (Telewizja Polska)
More than half of Ukrainians say President Volodymyr Zelensky should not run for another term. A KIIS survey found 53% opposed to his reelection, down sharply from 59% support in December 2023. KIIS executive director Anton Hrushetskyi said, “There is a significant demand in Ukrainian society for the renewal of political elites, and it has only intensified in recent years.” However, 71% of those polled oppose holding presidential elections during wartime. (Kyiv Independent)
U.S. officials are seeking details after a Russian lab worker died of a suspected pneumonic plague infection, with roughly 200 people placed under medical observation. The death occurred at a Siberian anti-plague institute in Irkutsk; Secretary of State Marco Rubio said the U.S. is closely monitoring the situation. Russian authorities have described the cause as an “unknown” infection. (Washington Post)
Trump says he will speak with Vladimir Putin about pneumonic plague: Washington increases pressure on Moscow to share more about the incident in which one person has died. (Financial Times)
Poll finds Oct. 7 a central factor in most Israelis’ election decision-making: But split between supporters, opponents of government remains largely unchanged from before Hamas attack; survey shows declining levels of optimism about future of democracy, national security, economy and social cohesion. (Times of Israel)
Bereaved by war, determined to heal, protect and revive Israel: Gadi Eisenkot’s prime ministerial mission: In an impassioned interview with The Times of Israel, the opposition frontrunner explains why he stayed in politics after his son was killed in Gaza, how he would safeguard Israel and return it to the community of nations, and why Netanyahu, the PM of Oct. 7, must be sent home. (Times of Israel)
August Hanning, who led Germany’s foreign intelligence service from 1998 to 2005, has been arrested on suspicion of treason and espionage. Prosecutors allege that Hanning paid a former BND office manager for roughly 2,000 classified documents over several years after leaving the agency, and “used classified intelligence…to draft an analysis for an officer of a foreign intelligence service.” The country involved was not identified. (Sky News)
Indian opposition leader Rahul Gandhi was forcibly removed and detained by Delhi Police during a sit-in protest outside Prime Minister Narendra Modi’s residence. The demonstration was organized over police action against student protesters and to demand Education Minister Dharmendra Pradhan’s resignation over NEET exam irregularities. Gandhi was seen “lying on the ground and resisting as security personnel tried to pick him up,” and an aide said he suffered an injury below the eye during the removal. (Times of India)
U.S. adults’ confidence in media freedom has hit a record low, with a stark partisan split. A new Gallup poll finds 69% of Americans believe the media enjoy substantial freedom, down six points from 2025 and now below the OECD median for the first time. Just 57% of Democrats hold that view versus 91% of Republicans. Many Americans “lack a shared perspective toward their news environment, given partisan divides in perceptions of media freedom and trust,” and overall trust in mass media remains low at 33%. (Gallup)
Economy
The S&P 500 and Nasdaq composite reached new closing records, driven by a small group of tech companies benefiting from the AI trade. Shares of healthcare firms, banks, consumer staple companies, small-caps and blue chips are declining as higher rates and rising costs drag them down. Analysts say the market’s narrow breadth poses a risk to investors, with returns reliant on a small group of stocks that can swing wildly. (Wall Street Journal)
Wall Street bonuses are projected to hit a four-year high this year, marking a second straight year of gains. Equity sales and trading bonuses could jump 15-25%, the steepest increase, while investment banking bonuses may rise 10-15%. Alan Johnson of Johnson Associates credited “record market valuations and a resurgence of previously stalled deals,” though he cautioned that “an economic slowdown with deteriorating credit and investment conditions could make next year less favorable.” (Wall Street Journal)
California is cracking down on luxury car buyers who dodge state taxes through the “Montana loophole,” registering vehicles via Montana LLCs that charge no sales tax. The state’s tax agency opened more than 400 investigations and audited nearly 300 dealerships; in one Bay Area case, prosecutors charged 14 people over an alleged scheme involving more than $20 million in vehicles, including McLarens, Porsches, and Ferrari. (Los Angeles Times)
McDonald’s Franchisees Balk at Costly Bill to Upgrade Stores: McDonald’s Corp.’s plan to overhaul its restaurants and menu is sparking angst among US franchisees facing upgrades that will cost at least $800,000 per location. The company needs the backing of its franchisees to help restore investor confidence that has faltered this year, with the company’s shares plunging 32% from a peak in late February through the end of September. Franchisees are worried about taking on more debt to pay for the changes and are seeking more details from McDonald’s about what kind of sales lift they can expect, with some considering negotiating the price tag down. (Bloomberg)
China is accelerating the consolidation of smaller banks “in a bid to shore up its financial system, amid ongoing concerns over an economic slowdown in the country. Beijing’s policy-led consolidation saw a record 670 lenders closed in 2025 — about one-quarter of banks in the country — as authorities ramped up mergers and dissolutions to create fewer, larger and better-capitalized institutions.” Fitch Ratings said that the consolidation effort “is aimed at boosting oversight, curbing regulatory arbitrage and improving transparency.” (CNBC)
Starbucks is facing a proposed class-action lawsuit alleging that it falsely marketed eight protein beverages as “sugar-free” despite containing 13 to 21 grams of sugar per venti serving from milk-based lactose. The suit argues that federal rules bar the “sugar-free” label on drinks with more than 0.5 grams of sugar per 12 ounces, and that “reasonable consumers would not expect the beverages to contain 13 to 21 grams of sugar.” Starbucks said it “intends to vigorously defend” the case. (Associated Press)
Technology
Apple to Launch Doorbell, Lock, Thermostat Developed With LG: Apple Inc.’s upcoming smart home devices will include a doorbell, thermostat, and other accessories developed through a partnership with LG Electronics Inc. The products developed with LG will also include a smart deadbolt lock, indoor security camera, outdoor security camera, and floodlight camera, and will carry the LG brand. The new Apple devices, including an upgraded HomePod mini and fresh TV set-top box, are set to be introduced on Oct 13, while the LG accessories are expected to reach consumers in a few more months. (Bloomberg)
Thousands of autonomous OpenAI-linked AI agents hijacked a German wiki, flooding it with up to 18,000 posts between May and June. More than 3,700 distinct agent identities used the site to exchange answers, “discussed ways to cheat on evaluations, and shared methods to bypass safety restrictions,” and created backup pages with obscure names to dodge moderators’ deletions. Security researcher Lukasz Olejnik said the behavior “crossed a line” and amounted to hacking, though OpenAI disputed that characterization while calling it an “AI misalignment incident” and promising a disclosure framework. (Ars Technica)
Meta, Walmart, Instinct, Shopify, Sierra, Stripe, and others publish the Personal Agent Protocol to standardize and secure how AI bots interact with businesses. (CNBC)
Boston Public Schools are embracing AI in classrooms, a sharp contrast to New York City and Los Angeles, which have restricted or banned it. The city trained about two dozen “AI Educator Ambassadors” in August using a $1 million donation from entrepreneur Paul English. Boston Mayor Michelle Wu said the effort is “about empowering our young people to have every bit of knowledge and understanding and fluency to make the most of the choices in front of them.” (Boston Globe)
Smart Links
2026 Nobel Prize in Physics awarded to Francis Halzen, pioneer of high-energy neutrinos (Scientific American)
Paramount officially completed its $111 billion takeover of Warner Bros. Discovery, creating a new company called Skydance that will start trading on the New York Stock Exchange this week. (Hollywood Reporter)
NBA Merger Offer Rejected by Euroleague in Blow to Expansion (Bloomberg)
Toyota planning $1.3 billion EV, hybrid plant in Argentina to counter Chinese rivals’ push into Latin America (Automotive News)
More Japan firms report customer data leaks as unauthorized access widens (Kyodo News)
After years of lawsuits, allegations and rancor, Oregonians see an opening to rein in data centers (The Oregonian)
Messi bids farewell to Argentina fans in emotional international finale. (France 24)
Good News
A St. Louis man learned nearly 60 years after his adoption that Grammy-winning musician Michael McDonald is his biological father. Michael Goessling’s discovery began when one of McDonald’s children took a DNA test, leading to a match within 36 hours. When Goessling asked McDonald directly, “Are you Michael McDonald?” McDonald replied, “Yeah, I’m afraid so.” Goessling recalled their first meeting: McDonald “put his arms out, gave me a big old bear hug and told me he loved me.” (San Francisco Chronicle)
A mother rushed into dangerous surf to save an unconscious surfer floating face down in the water off North County San Diego. Benita Karo, fully clothed, held the man’s head above water until help arrived after a wave slammed him into rocks. “I sat there with him, holding him, just trying to keep his head above water,” Karo said. The 50-year-old surfer, known as Bob, is making a full recovery; his wife, Mary, called Karo “an angel, just an absolute angel.” (SunnySkyz)
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