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Strikes in the Pacific: US Hits Four Alleged 'Narco' Boats, Killing 14 and Drawing Mexico's Ire (Bloomberg)
The Trump administration launched its largest military strikes yet on alleged drug traffickers, destroying four boats in the eastern Pacific and killing 14 people in an attack that risks raising tensions with key US trading partner Mexico.
The three strikes on Monday in international waters, announced by Defense Secretary Pete Hegseth in a post on X, represent the biggest one-day attack since the US began hitting boats in the Caribbean and off Colombia’s coast in the Pacific Ocean more than a month ago.
Record Storm: Category
5 Hurricane Melissa Brings Flooding and Catastrophic Winds to Jamaica (Associated Press)
Tariff Latest: GOP-Held Senate Splits From Trump in Move to End Brazil Tariffs (Bloomberg)
A handful of Republican senators joined with Democrats to pass legislation aimed at canceling Trump’s tariffs on Brazil, underscoring a fracture in the president’s party on a signature economic issue.
In Brazil:
Rio’s Deadliest-Ever Police Raids Claim at Least 64 Lives
(Bloomberg)
Brazilian police launched their most lethal operation ever in Rio de Janeiro, leaving at least 64 dead as authorities squared off against a major gang in the global tourist destination just ahead of next week’s climate summit.
Mideast Latest: Israeli Army Says Ceasefire in Gaza Resumed After Strikes (Bloomberg)
Today at the Fed: Federal Reserve Seen Cutting Rates, But With No Added Signal (Bloomberg)
Expectations are set
for two things from this week’s Federal Reserve meeting: Officials will lower rates by a quarter percentage point and Chair Jerome Powell will offer little guidance as a growing divide among policymakers blurs the path ahead.
The central bank’s rate decision will be published today at 2 PM ET, alongside a statement from the committee. Powell will hold a press conference 30 minutes later.
Trump Economy Weakens: US Consumer Confidence Slips on Outlook for Economy, Jobs (Bloomberg)
US consumer confidence fell in October for a third straight month, with confidence remaining stuck below levels seen last year as consumers fret about the labor market and the cost of living.
Job growth has significantly slowed,
inflation remains above the Federal Reserve’s target and President Trump’s tariff policies continue to drive heightened economic uncertainty. The ongoing government shutdown, meanwhile, has left policymakers without major data at a crucial time for the economy.
Future of Learning: AI Won't Give American Children the Education They Need (Bloomberg Opinion - Mike Bloomberg)
Blue States Push Back: Trump Administration Sued Over Food-Aid Cutoff During Shutdown (Bloomberg)
Addressing US Troops in Japan: Trump Says He Is Prepared to Send ‘More Than the National Guard’ Into US Cities (New York Times)
President
Trump told American troops
assembled in Japan on Tuesday that he was prepared to send “more than the National Guard” into cities to enforce his crackdowns on crime and immigration, further escalating how he has talked about using the military at home and abroad.
In a raucous, rambling, hourlong speech that flipped between jokey asides and fiery rhetoric, Trump told the troops that the US military is “no longer politically correct” and should “defend our country whatever way we have to,” as reported by Politico
Playbook.
New
in Tech: Apple Plans MacBook Air, iPad Air and iPad Mini With Overhauled Displays (Bloomberg)
In Person Learning Beats Zoom: JP Morgan Reups Return-to-Office Push After Opening New York HQ (Bloomberg)
JPMorgan Chase & Co. CEO Jamie Dimon said he continues to cajole staffers into the office because the firm has seen junior bankers aren’t able to learn as much when working from home.
Dimon this year ordered all of his employees to return to the office five days a week, ending a hybrid-work option for thousands of staff and returning to the attendance policy that was in place before the pandemic.
Panel of New Yorkers: Who Should Be Mayor of New York City? (New York Times - Opinion)
Eleven panelists assess the mayoral candidates and their ability to lead the city, including Eleanor Randolph, Mitchell Moss, Howard Wolfson and more. On education and housing, Wolfson said he's "been profoundly disappointed by the lack of conversation about education during the campaign from all the candidates." Moss said Mamdani is "a compelling candidate with vast upside but much more downside than people recognize. He doesn’t know what he doesn’t know. He is prepared to give up control of the school system, and that is a path to more education failure, not greater success."
On public safety, Randolph raised the issue of how the police and the mayor are going to deal with the possibility of Trump sending federal officers and national guard troops to the city "with their guns out." "You can hear the drumbeat and you know he’s coming after New York. So how does that work with a police department and the way the next mayor operates," she said. Read the full piece here.
Texans Vote: The Y’all Street Tax Plan for Texas (Wall Street Journal - Editorial Board)
Texas voters will decide next week whether to cement the state’s business friendly edge with three constitutional tax bans: on capital gains, financial transactions, and estates. The measures are designed to guarantee Wall Street newcomers that Texas will stay tax-friendly for the long haul.
Finance jobs in Texas are up 27% since 2019, making Dallas the nation’s No. 2 finance hub. The proposals, led by Republicans but backed by many Democrats, would make Texas even more attractive to firms like Schwab and Goldman, and give high-tax states more reasons to worry.
Baseball News: The Blue Jays Win Normal Game, Tie Incredible World Series Against the Dodgers (New York Times - the Athletic)
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