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Campaign group warns that the new Congress in Brazil poses a threat to environmental legislation
According to a report by the climate advocacy group Observatorio Do?Clima that found almost 70% of elected legislators have no or little interest in environmental issues, Brazil's new Congress will likely pose a greater obstacle to legislation protecting the environment after elections this month. The study examined bills, legislative initiatives, speeches, and public statements made by newly elected and reelected legislators. It concluded that 64 out of 81 senators have demonstrated a "very low" commitment to environmental issues. In the lower chamber, 345 out of 511 legislators were placed in the same category. According to the study, the Liberal Party, which is home to Flavio Bolsonaro (a right-wing senator) who will be facing President Luiz Inacio Lula in a presidential runoff later this month has the lowest environmental credentials of all major parties. Bolsonaro defeated Lula in a first round despite pollsters' predictions, but he didn't get enough votes to prevent a second ballot. The environmental commitment of all 28 senators and lower house members who were elected by the party on Sunday was rated as very low. The study also found that other right-leaning political parties, such as?Novo and Republicanos, Progressistas, and Uniao Brasil showed low support for environmental issues. Observatorio do Clima stated that environmental advocates may face a more 'challenging' political landscape if Bolsonaro, whose previous?comments about climate change caused concern, is elected President. I contacted the parties named but did not receive a response. The group said that proposals to weaken environmental protections, such as measures to reduce protected lands, allow mining on Indigenous land, and ease licensing requirements for environmental matters, could gain "traction" under the new Congress. Suely Araujo is the public policy coordinator for the group. She said, "This image shows four years of hard work by those who are focused on climate and environment issues."
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US to rescind methane policy against oil and gas industry
The US Environmental Protection Agency announced on Wednesday that it would be scrapping the Biden-era regulation aimed at curbing large leaks of'methane' from oil and gas operations. The move is part a broader effort by the Trump administration to reduce regulations, which it claims burden US businesses in its quest to increase fossil fuel production. "Americans should be able to afford heating their homes during the winter and filling up their cars to drive to work." The people who produce the energy cannot?do this when they are burdened by unnecessary burdens," EPA Administator Lee Zeldin stated in a press release after announcing the decision at a meeting with representatives of the oil and gas industries in New Mexico. The "super emitter program" of the EPA requires that companies react when third parties use remote sensing to report suspected methane leaks. After taking office in 2017, the Trump administration?delayed implementing this policy until next. EPA claimed that its proposal to rescind this?rule could save $45 billion a yearly. The oil and gas industry, which is a major source of methane, is responsible for the second largest?cause?of climate change?after carbon dioxide. Environmental groups have criticized the move. In a statement, Mahyar Sorour of Sierra Club's Beyond Fossil Fuels said: "This giveaway is foolish and shortsighted. It reveals to whom the Trump administration works - its political donors."
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US seizes $3 Million in fuel shipments from Cuba as crackdown continue
The US announced on Wednesday that it had seized 90 separate shipments of biodiesel bound to Cuba, worth nearly $3 million. This is the second time this week US authorities have announced the seizure "illegal" fuel en route to Cuba. The Trump administration is continuing to choke off Cuba's energy industry, only allowing small amounts of fuel to be shipped to the private sector on the island in an effort to undercut the Cuban government. Jose Figueroa, Special Agent in Charge of Homeland Security Miami, told Miami reporters on Wednesday that the seized cargo was destined for Enetec, an Enetec-based state-owned fuel firm sanctioned earlier this year by the US. The authorities said that they intercepted fuel shipments at Port Everglades in south Florida and Houston before they left the US. Homeland Security reported that more than 600,000 gallons were seized. Figueroa stated that "an effort of this magnitude to undermine US sanction is not an accident." These actions are aimed at shipments that could benefit the Cuban government through a state controlled entity. Anyone who attempts to undermine US laws to fund, facilitate or profit from such an effort should be put on notice. Cuba's government didn't?comment immediately on the fuel seizure. Cuba's communist-run government has called the Trump administration's blockade of fuel on Cuba "economic war" and "illegal". The blockade has exacerbated the ongoing problems of blackouts, shortages of water and inflation on the island, pushing it towards a humanitarian catastrophe. US President Donald Trump stated openly that his goal is to overthrow Cuba's government with the?blockade & sanctions. Last week, the US Coast Guard announced that they had intercepted in September a large container vessel carrying fuel bound for Cuba. The Coast Guard said that the ship was attempting to evade authorities, and had large amounts of fuel hidden within its ballast tanks. In either case, the US has not disclosed the identities of the exporters.
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Russia claims that Ukraine has struck two nuclear facilities at Zaporizhzhia
The head of Russia's state nuclear corporation said that despite the fact that Ukrainian drones had attacked two facilities at Zaporizhzhia, a Russian-held nuclear power plant in southeast Ukraine, there was no danger to nuclear safety. Alexei Likhachev said that a driver who was delivering food to plant workers had been killed by the drone attack. Likhachev said that a laboratory and a plant for the processing of radioactive waste were targeted. Ukraine has yet to comment on the incident. The plant's management announced on?Saturday that Ukrainian shelling in recent weeks has damaged the external power supply equipment. Electricity is currently provided by emergency diesel generators. The plant does not produce electricity, but it needs two external links for power to cool nuclear fuel. In the first few weeks of the war, which began with Moscow's invasion of its smaller neighbor in February 2022, Russia captured the?plant - Europe's biggest with six reactors. Since then, Moscow and Kyiv accuse each other regularly of military actions that compromise nuclear safety. The International Atomic Energy Agency (IAEA), the UN's nuclear watchdog has repeatedly taken action to ensure a ceasefire surrounding the plant so that repairs could be made to the lines connecting the facility to the main grid. UN monitors are at the Zaporizhzhia and three other plants in Ukraine. Maria Zakharova of the Russian Foreign Ministry wrote on her ministry's website that the West was enabling Ukrainian aggressions by not publicly condemning them. Zakharova wrote that "Kyiv has intensified its shelling of the Zaporizhzhia nuclear plant because Western countries have not responded appropriately to these actions, effectively facilitating new assaults." "Such an attitude toward strikes by the Ukrainian military shows the true 'value' of statements made by representatives of these nations about nuclear and physical safety at international forums."
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The top cases in the US Supreme Court docket
US Supreme Court will hear a number of important cases in its new term, which begins Monday. These include issues like President Donald Trump's Immigration Policies, the ban on assault-style rifles, the financial responsibility of Big Oil for climate change and Republican-backed voting restriction. This is a list of some of the cases that are being argued in the current term. The term runs until the end of June. Big Oil Climate Suit ExxonMobil, Suncor Energy and Boulder officials argued on October 5, attempting to "thwart" a lawsuit filed by Boulder officials. The Justices grappled with the complex question of whether local governments should be allowed to hold oil companies responsible for harms caused by climate change. After Colorado's highest court allowed Boulder to sue them for violating state laws and seeking unspecified damages, the companies filed an appeal. Trump's administration supported the companies. The justices expressed concerns over unduly restricting the power of states to pursue litigation related to climate change, and the potential for chaos if local government across the nation were allowed to sue these corporations. The ruling is expected to be made by the end June. TRUMP'S MANDATORY DETENTION OF IMMIGRANTS The court will determine the legality Trump's policy, which subjects millions of illegal immigrants living in the US to mandatory detention while deportation proceedings are underway. Trump's policy of mass deportation includes this policy. The Supreme Court heard the Trump administration appeal of a lower-court ruling that ruled against the policy, in a case concerning a Brazilian citizen. The US administration has abandoned its long-standing interpretation of federal laws that allowed immigrants living in the US to be released under bond until their cases were heard in immigration court. Dates for the arguments have not been set yet. The ruling is expected to be made by the end June. DEPORTATIONS TO A THIRD COUNTRY BY TRUMP In December, the justices will hear arguments over the Trump administration’s policy to deport migrants to "third countries", or other nations than their home country. They won't give them the opportunity to demonstrate the harms that they might face. On September 29, the court allowed the Trump administration to continue its policy, suspending a federal judge’s ruling that deporting migrants to third-country countries was illegal. Human rights groups claim that more than 25,000 migrants were deported under this policy to 29 different countries. The ruling is expected to be made by the end June. Ban on assault-style rifles On December 2, the justices will hear arguments in a challenge against state prohibitions of 'assault style rifles. This case involves a weapon type that is often associated with mass killings. The lower courts in Cook County Illinois and Connecticut upheld the bans on powerful semiautomatic weapons such as AR-15s. Lower courts rejected arguments that these measures violated the US Constitution's Second Amendment rights to "keep and bear arms." Gun rights groups, as well as other opponents, have argued that Supreme Court precedents regarding the Second Amendment protect firearms in "common usage." The end of June is the expected date for a ruling. Voting Rights On December 8, the justices will hear arguments in a Republican led bid to reinstate voter restrictions in Arizona. This would require proof of citizenship for all voter registrants, and purge voter lists in Arizona from alleged non-US citizen voters. Republicans appealed a lower court's decision to stop certain provisions of Arizona law for violating federal voting registration laws. The Trump administration has supported key aspects of the appeal. The Arizona measure, according to critics, adds additional mandates for voting which unfairly targets Latinos and Native American voters. These groups tend to support Democratic candidates. The ruling is expected to be made by the end of June. LGBT RIGHTS On November 3, the justices will hear arguments in an appeal by the Archdiocese of Denver, and other Catholic entities, to be exempted of a Colorado program that funds preschools' nondiscrimination requirements. A lower court ruled that Colorado's program didn't violate the First Amendment rights of the Catholic plaintiffs. State funds are provided for preschools. The Catholic plaintiffs objected that the state required schools receiving funding through the program to give all children an "equal chance" to enroll in pre-school, regardless of certain characteristics. This included the sexual orientation of students and their families. The ruling is expected to be made by the end June. EPIC GAMES SUE AGAINST Apple Apple will try to avoid being found in contempt by the justices in its legal battle with Epic Games, the maker of "Fortnite". The iPhone maker had been found to be in violation of an order from a court ordering sweeping changes in its lucrative App Store as part the antitrust litigation. Apple appealed the ruling of a lower court that upheld a federal judge's decision in Oakland, California finding Apple in contempt for Epic's lawsuit against App Store fees. Dates for the arguments have not yet been announced. The ruling is expected to be made by the end June. PEPSICO TRADEMARK CASE The court will hear arguments regarding a claim by Rise Brewing, a maker of canned coffees, to hold PepsiCo responsible for an alleged trademark violation involving Pepsi’s morning energy beverage "Mtn Dew Rise." Rise Brewing appealed the ruling of a lower court that rejected the company's claim the name "Mtn Dew Rise," infringes on its trademarks, and confuses customers with its coffee brand. No date has been set for the arguments. The ruling is expected to be made by the end June.
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Bonds resume selling after bonds climb, but stocks rise following weak US job data
The dollar and major stock indexes fell on Friday, as expectations of a Federal Reserve rate hike this month dropped after weaker-than-expected US jobs data. The bond market resumed its ongoing selloff, which has seen global yields reach levels not seen for two decades. The closely watched Labor Department employment report revealed that nonfarm payrolls increased by 29,000 jobs in August, falling short of the 90,000 expected increase according to economists surveyed. The Labor Department's closely watched employment report showed that nonfarm payrolls?increased?by 29,000 jobs last month, short of the 90,000 expected gain according to economists polled by. After the report, bets on a Fed rate hike in October, after it raised rates last month for the first since 2023, dwindled. The Fed is now seen as having a 21% chance of raising rates by 25 basis point in October. This was compared to a 26% chance before the report. Joseph Purtell is senior vice president at Neuberger, and portfolio manager. He said that the labor market was not as hot as it had been in August. Purtell described the labor market as stable. As Friday's employment report came out, expectations for a rate hike in October had already begun to decline. This week, two top policymakers stated that they needed more data to decide 'what to do with interest rates next. LSEG says that the odds of a December rate hike initially decreased following the data, but then increased. Rates that are higher can be seen as negatives for stocks, because they raise the borrowing costs for consumers and businesses. The Nasdaq Composite gained 319.27 point to 27,190.86, a 1.2% increase. The Dow Jones Industrial Average?rose by 250.40 or 0.5% to 51,176.96. The S&P?500 grew by 56.27 or 0.7% to 7,722.72. The MSCI index of global stocks rose by 7.01 points or 0.6% to 1,140.27. The pan-European STOXX 600 rose by 0.75%. The dollar fell against the euro and the yen. The euro last rose 0.16% to $1.1259 The dollar fell 0.18% against the Japanese yen to 157.79. The gap between German and French yields is the widest since 2011. US Treasury yields initially fell following the jobs report, but later rose on the same day. Some investors noted that the jobs reports was not so poor that it eliminated chances for the Fed? to raise rates in the coming months. In recent weeks, global bond markets have steadily sold off as the US-Israeli conflict with Iran has pushed energy prices up. This has complicated the inflation outlook while further stretching already stretched public finances. Benchmark US 10-year yields closed the month of September with their largest quarterly increase since 1994. The yield on the benchmark US 10-year note was up 4.93 basis point at 5.283%. The yield on the 2-year note, which moves typically in step with Fed interest rate expectations, was up 4.63 basis points at 5.283%. The European Government Bond Markets remained volatile on Friday, with the difference between German and French 10-year Yields reaching the highest level since the Euro Zone Debt Crisis in 2011. German 2-year bond rates were flat at 3.05% after swinging between session lows of 2.943% to highs of 3.063%. French 2-year bonds were about 4 bps higher, at 3.73%. They had risen as much as 3.84% earlier. Italian 2-year bond yields are down 7 basis points at 3.547%. The yields on 2-year German bonds fell by nearly a quarter of a point this?week. Meanwhile, those on 2-year French debt rose nearly 14 basis points. Brent crude futures rose, while US West Texas Intermediate retained a part of its earlier losses. This was after European leaders accepted US President Donald Trump’s request for the release of diesel reserves. Brent rose 46 cents or 0.45% to $102.77 per barrel by 2:20 pm EDT (1820 GMT). WTI fell 1% to $91.90 per barrel.
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US FDA links Mexico facility to outbreak of lettuce parasites after closing probe
The US FDA announced on 'Friday that it had concluded its investigation of a summer parasite epidemic, and linked the illnesses with recalled'shredded iceberg lettuce' from Taylor Farms de Mexico. The regulator stated that while 'investigators' could not determine definitively how the contamination occurred, tests showed the parasite cyclospora was present in the environment of the lettuce growing and processing. Investigators discovered the parasite during the investigation at the Taylor Farms?de Mexico processing facility as well as at a lettuce field in Mexico. The regulator confirmed that two samples collected during inspections in Mexico were positive for cyclospora. One sample was taken from the tank of wastewater that Taylor Farms de Mexico used to process its products, and?the second came from an irrigation ditch at a?iceberg-lettuce grower who had been identified as part of a traceback investigation by the US Food and Drug Administration. Taylor Farms de Mexico didn't immediately respond to our request for a comment. The FDA stated that the FDA's analysis of patient illness reports and supply chain tracking clearly supported the linkage between the recalled lettuce, and the multistate outbreak which caused intestinal?sickness. The regulator is still analyzing the results of the genetic testing on both positive samples. The FDA also announced a 10-point plan for preventing similar outbreaks before the growing season of 2027. Actions include:?more surveillance of produce historically associated with the parasite, increased outreach to growers, and an outbreak investigation report with recommendations for prevention. On?September 11, the US Centers for Disease Control and Prevention (CDCP) declared that the outbreak was over. The CDC received reports on September 14 of 19883 cases of cyclosporiasis that were confirmed in the laboratory and two deaths.
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Global M&A deals slow down in the third quarter due to rising borrowing costs
M&A activity totaled $993 billion in the past three months, a 41% drop compared to second quarter 2026. This is the first quarter that has fallen below $1 trillion, since the second half of 2025. The ten megadeals worth more than $10 billion announced during the third quarter included Gold Fields' $25.7 billion bid to acquire Northern Star Resources and Banca Monte dei Paschi’s $32 billion offer for Banco BPM. This was the lowest quarterly number since the fourth quarter 2024. The surge in energy costs has fueled inflation and raised expectations about interest rates. The benchmark 10-year US Treasury Yield hit 5.34% Thursday, its highest since 2002 after posting the largest quarterly increase this century in three months up to September. John Collins, Morgan Stanley's global head of M&A, said that "at the margins (higher yields) makes valuations sometimes harder." "It's hard to quantify the impact, but I am not yet ready to declare a slowdown." The number of transactions fell by 8%, to levels not seen since the year 2020. Carsten Woehrn is Goldman Sachs’ co-head for M&A in Europe Middle East and Africa. If the current pace is maintained, he believes that the total value of the deals will surpass the peak in 2021. Woehrn stated that "Megadeals continue and we have seen significant activity in the past few months." Boards are feeling more pressure to close strategic deals. The?technology industry has seen unprecedented levels of investment, and strategic stake purchases of these companies have accounted for approximately one quarter of all global M&A deals so far in this year. Earlier this summer, Anthropic - the maker of Claude - and ChatGPT - the maker of OpenAI gathered tens billions of 'US dollars in investment. While US and European M&A fell dramatically in the last quarter, Asia Pacific M&A reached $242 billion. This is up 8% compared to the second quarter, and 36% compared to the same period last. The third quarter of this year saw a decline compared to the same period in the previous year. The cross-border business continues to be a major theme in this year, with a 32% increase compared to the same period of last year. We're seeing US companies considering acquisitions in Europe, for the first-time. They are taking advantage of the strong dollar. People are investing in the U.S. to take advantage of higher growth opportunities in the country, said Charlie Bouckaert. DEALMAKING AND TRILLION DOLLARS IPOs The new listings, especially in the tech sector, has given companies the currency they need to acquire rivals. SpaceX bought AI coding startup Cursor days after its blockbuster Nasdaq debut. The company's valuation soared to over $2 trillion. Collins stated that "one of the driving forces behind activity is that larger companies may be able to navigate the transition to?AI more effectively." SpaceX's June IPO helped to drive $215 billion in global initial public offerings (excluding SPACs) in the past year, the highest amount since 2021. This was despite a smaller number of deals compared to the same period in 2017. In the past three months,'stock sales' raised US$284 Billion, which is 26% less than proceeds raised in equity capital markets for the second quarter. However, this represents a 39% rise from the third?quarter 2025 thanks to offerings by SK Hynix, and Intel. Bankers warned that investors might be hesitant to invest in certain technology and AI deals. Andreas Bernstorff is the global head of equity markets at BNPParibas. Some IPOs were delayed in recent weeks as higher interest rates, and setbacks within the data center eco-system threaten to derail a slew new issues. Bankers are confident despite the uncertain future. Bouckaert stated that "strong secular trends, such as AI, are driving activity and we expect to see 2027 be another prosperous year."
Trump's comment that Iran can 'take out Los Angeles' was misinterpreted
US President Donald Trump said on Thursday that comments he made about Iran being able to "take out" California cities were misinterpreted. He was referring instead to the need for people to tolerate higher gasoline prices.
Trump made these remarks on Monday at a Nebraska political rally, where he talked about the economic sacrifices of Americans during World War II.
"Remember that the 'war' is artificial, it costs a lot, but it's worth it," he said. "It is a small price to pay in order to keep the world and our country safe. They could take out an entire city. Let's?take Los Angeles out, let's?take San Diego out. It's a small price to pay and it will be over very soon."
California's Democratic Leaders and some Republican colleagues quickly condemned the remarks.
Trump stated in a Truth Social posting on Thursday that "a temporary increase in Gasoline prices is a small price to be paid for Iran not having a nuclear weapon."
"If you want to see a huge price, can you imagine what would happen if they bombed San Diego and/or Los Angeles?" He continued by saying he loved both cities.
Trump has dismissed concerns about cost of living stemming the Iran conflict in the past.
(source: Reuters)