TheChek News Flow

FINANCIAL TIMES

-Israel has launched air strikes against Iran, including targets in Tehran, as part of an escalating conflict between the regional foes. The Israeli military targeted military facilities such as missile manufacturing plants and air defenses in retaliation for the missile barrage Iran fired at Israel three weeks ago. Iran's air defense headquarters said that Israel had targeted military bases in Tehran, the south-western province of Khuzestan, and the western province of Ilam. The US had pressed Israel to avoid striking Iran's nuclear sites or oil facilities as Prime Minister Benjamin Netanyahu's government prepared its response to the Iranian ballistic missile attack on the Jewish state three weeks ago. The White House was notified of the strikes in advance but did not participate in the attack. After Israel declared its assault over, the Biden administration said Israel's response should mark the end of the latest cycle of attacks between the foes. The US has conveyed this message directly and indirectly to Tehran.

-Electoral polls have faced challenges in recent years, with over a third of national pollsters adjusting their methods after 2020. In 2016, national-level polls were overly focused on national-level data, leading to misinformation about Trump and Brexit. In 2020, pollsters also underestimated Trump's support. However, a Pew study shows that more pollsters now use online and text surveys, and have turned to probability-based panels. The 2022 midterm polls, despite predictions of a "red wave," were accurate, and this year's polls may have followed suit. This shift in polling methods is a response to the changing world and the need for accurate data.

-US Treasuries have experienced a sell-off, causing ripples across markets, including gold and currencies, as investors warn of volatility ahead of the upcoming presidential election. US government bonds are on track for one of their worst months in recent years, with 10-year yields rising almost 0.4 percentage points to 4.2%. This comes just weeks after the US Federal Reserve signaled an easing era with a half-percentage point cut, prompting investors to expect at least a further quarter-point cut at both remaining meetings this year. Strong economic data and bets on a Republican victory leading to reflationary policies have prompted investors to scale back their bets. Portfolio manager Mike Cudzil said investors are "walking back some of the overzealousness" after the Fed cut.

-Kamala Harris and Donald Trump have been in a heated debate over the US election, with Harris focusing on women's rights and abortion access, while Trump has emphasized masculinity and vulgar language. With just a week and a half until election day on November 5, Harris is aiming to increase women's support while Trump appeals to male supporters. A USA Today/Suffolk University poll shows women supporting Harris by 53% to 36%, while Trump holds a similar edge with men. This could lead to the largest partisan gender gap in modern US history, as a similar vote on November 5 would mark the largest partisan gender gap in modern history.

-Jeff Bezos, the owner of The Washington Post, has faced criticism for not announcing an endorsement for a US president for the first time in 36 years. The decision came after the editorial page staff had written an endorsement for Kamala Harris, but it was not published. The change comes less than two weeks before the presidential election, where Harris and former president Donald Trump are running neck-and-neck. Tensions between Trump and Bezos were evident during his time in the White House, with Amazon filing a lawsuit in 2019 claiming it was denied a $10B US defense contract due to "escalating and overt pressure" from the then president. The Washington Post's chief executive, Sir Will Lewis, acknowledged the policy change could be seen as an abdication of responsibility but denied it.-The US government is investigating alleged Chinese attempts to hack US telecoms infrastructure, following reports that hackers targeted former president Donald Trump and his running mate JD Vance's phones. The FBI and Cybersecurity and Infrastructure Security Agency are investigating "unauthorized access to commercial telecommunications infrastructure by actors affiliated with the People's Republic of China." Trump's campaign spokesperson, Steven Cheung, blamed the attack on Kamala Harris, the US vice-president and Democratic presidential nominee. Cheung criticized the Democrats for continuing election interference and urged China and Iran to attack critical American infrastructure to prevent Trump from returning to the White House. This comes one month after the US justice department indicted members of Iran's Islamic Revolutionary Guards Corp for allegedly hacking Trump's presidential campaign. Tehran has rejected the allegations.

-Boeing, the company that revolutionized commercial aviation, has been in turmoil for over five years due to various issues such as fatal crashes, a worldwide grounding, a guilty plea to a criminal charge, a pandemic, a plane breaking off mid-flight, and a strike. The company's finances are fragile and its reputation has been damaged. Bank of America analyst Ron Epstein compared the crisis to the Hydra of Greek mythology, stating that every problem that has come to head, then [been] severed, more problems sprout up. Resolving Boeing's crisis is crucial for the future of commercial air travel, as most commercial passenger aircraft are made by it or its European rival Airbus, which has little capacity for new customers until the 2030s. CEO Kelly Ortberg faces challenges in motivating the workforce, persuading investors to support an equity raise, addressing quality control and manufacturing issues, and placating frustrated customers who have had to rejig schedules and cut flights due to delays in plane deliveries.

-Millennium Management is considering launching its first fund since its founding over three decades ago to target less liquid assets, including private credit. Private credit, which involves loans made to risky companies, has grown into an almost $2T asset class as traditional banks have retreated from their core lending business. Despite the explosive growth in private credit, Millennium believes there are still opportunities in this market and other less liquid assets. The potential move comes as Millennium seeks to sustain its growth, which has transformed it into a $69.5B business since its inception 35 years ago.

-The Dutch government has avoided collapse over migration policy after far-right leader Geert Wilders backed down on a demand for drastic measures potentially in breach of EU law. His Freedom party, one of the four coalition partners, scrapped a plan to declare a migration crisis, which would have allowed further measures without parliamentary consent. Instead, center-right coalition partner New Social Contract convinced Wilders to settle for a draconian refugee policy set to be approved by the cabinet on Friday, which will have to be endorsed by parliament. The compromise is the latest attempt by centrist forces in the three-month-old government to rein in Wilders, whose party won the most seats in last year's election.

-US regulator Michael Hsu has warned that failing to finalize stricter stability rules could lead to an international "unravelling" of guardrails put in place after the financial crisis and create conditions for a new global banking meltdown. Hsu believes that such a breakdown would create unhelpful uncertainty for US banks, lead to a race to the bottom, sow the seeds for a future financial crisis, and hurt US credibility and leadership on these issues. The warning is the strongest from a regulator about what could happen if the US abandons the Basel III endgame, a set of rules meant to increase financial stability and synchronize how big banks are regulated around the world.

NEW YORK TIMES

-Israel has launched a retaliatory attack on Iran, causing "limited damage" to military bases in three provinces, including Tehran. The Israeli military said it was conducting precise strikes on military targets in Iran in response to more than a year of attacks on Israel by Iran and its allies across the Middle East. The strikes have been conducted by over 100 combat aircraft, including fighter jets and unmanned drones, hitting around 20 sites in Iran, Syria, and Iraq. Iran's national air defense force stated that Israel had attacked military bases in three provinces, including Tehran and two near the Iraqi border, Ilam and Khuzestan. Iranian air defenses were able to limit the damage, but it is continuing to assess the situation. Three news agencies run by different branches of Iranian authorities said that the city of Tehran itself had not been hit and that civilian airports were operating normally. The blasts were close enough to the Iranian capital for them to be seen and heard by residents, bringing closer to home a war that had felt remote for many.

-The recent exchanges of air attacks by Israel and Iran have ruptured their longstanding practice of avoiding direct military clashes. The Israeli military said it was "conducting precise strikes on military targets in Iran," acting in response to more than a year of attacks on Israel by Iran and its allies across the Middle East. Residents of Tehran reported hearing explosions in and around the city. Just after 6 a.m., the military said the strikes had concluded. Israeli officials said the attack was over by about 5 AM, after 20 targets had been struck. Israel waited only about five days to respond to an Iranian attack similar to Tehran's Oct. 1 missile barrage during an exchange of airstrikes in April. Various factors seem to have dictated a sudden shift in the relationship between Israel and Iran.

-Vice President Kamala Harris attended a rally in Texas, where she received endorsements from global superstar Beyoncé, focusing on abortion rights. The rally was her largest and most emotionally charged event since becoming the Democratic nominee. Beyoncé's speech focused on a more optimistic future, emphasizing the stories of Texas women who suffered life-threatening health complications due to being denied proper care for pregnancy complications. Harris and many speakers blamed former President Trump, who frequently boasts of appointing three of the Supreme Court justices who voted to overturn Roe v. Wade in 2022.

-Michigan's Democratic Congresswoman Elissa Slotkin faces a tight Senate race due to the Middle East war and anger among the state's Arab American voters. The violence in Gaza and Lebanon has directly affected the state's Arab American population, leading some to consider withholding their support or even sitting out the election altogether. The state's large Arab American contingent has been directly affected by Israel's military campaigns in Gaza and Lebanon. Some voters are deciding to withhold their support from Slotkin or sit out the election altogether, potentially cutting into the margin she would need to win. Some voters, such as Nina Saad, have expressed their intention to not vote this year, citing the lack of motivation from Slotkin or her Republican opponent, former Representative Mike Rogers.

-With less than two weeks until Election Day, law enforcement officials are facing a surge of threats to election workers and political activists. The Justice Department has unsealed a complaint against a man in Philadelphia who vowed to kill a party official recruiting volunteer poll watchers. Police in Tempe, Arizona, arrested a man in connection with shootings at a Democratic campaign office and other acts of political vandalism. Prosecutors charged a 61-year-old man from Tampa, Fla., with threatening an election official, on top of pending charges over menacing messages sent in the past five years. On Thursday, police officers in Phoenix arrested a person in connection with a mailbox fire, damaging some 20 ballots in a Democratic stronghold. The situation is likely to lead to a bitterly contentious coda and potentially unsettled aftermath for the presidential contest.

-Former President Donald Trump has defended himself against a magazine report accusing him of disparaging fallen veterans and making a racist remark about a murdered Mexican-American soldier. Trump attended a rally in Austin, Texas, with some of Specialist Vanessa Guillén's relatives, following the publication of the article. The Atlantic magazine reported that Trump had expressed sticker shock when he asked an aide if his administration had received a bill for Guillén's funeral expenses. During a White House event in April 2020, Trump offered to help cover any expenses not picked up by the military. However, the article quoted Trump as saying it doesn't cost 60,000 dollars to bury a Mexican. Trump's family has stepped forward to help vindicate him, and the former president has defended his actions.

-According to US officials Thousands of North Korean soldiers have arrived in Russia's western Kursk region, with the aim of participating in a counteroffensive to dislodge Ukrainian forces occupying the region since August. The North Korean troops have not yet entered the fight and their role is not yet clear. However, any significant contingent of North Korean troops will allow Russia to keep more of its forces in eastern Ukraine, where they can focus on seizing as much Ukrainian territory as possible before the harsh winter weather sets in. The governments of South Korea and Ukraine have warned that thousands of North Koreans were training alongside Russian soldiers, with Ukraine putting the figure as high as 12,000 troops. US officials confirmed that a contingent of North Korean troops had been transported by ship to Vladivostok (not far from the Russian-North Korean border), a large Russian city on the Pacific Ocean, in a "very, very serious" escalation. The first North Korean troops made the nearly 4,000-mile journey to the Kursk region, with thousands more arriving each day since.

-Wang Huning, the top adviser to President Xi Jinping, is credited with shaping China's authoritarianism. During the first-ever talks in Beijing with Taiwan's former president, Wang Huning, a bookish-looking official, spoke confidently in his presence and sat next to him. This highlights the relationship between Xi, the country's most powerful leader, and Wang, the ruling Communist Party's most influential ideological adviser. The scene provides insight into the relationship between Xi and Wang.

-Tommy Robinson, the founder of the English Defense League, is the highest-profile leader of Britain's growing far-right movement. He is known for organizing and promoting a far-right London rally on Saturday. Robinson, who was involved in the anti-immigrant riots in August, will not attend the rally as he was taken into police custody. He faces charges of repeatedly libeling a Syrian refugee in breach of a 2021 injunction. Antiracism activists have planned a counterprotest on Saturday, with the police ensuring that the two demonstrations take place in different parts of central London. The police will monitor closely to ensure that those involved stay "sufficiently far apart" to prevent serious disorder. Robinson is due in court on Monday.

-Israel has claimed to have bombed a structure associated with Hezbollah and is reviewing the strike. The Hasbaya Village Club, a former oasis in southern Lebanon, was home to 18 journalists from international and Lebanese news organizations. The bungalows were destroyed during an Israeli airstrike on Friday, killing three journalists and injuring at least three others. The attack occurred while the occupants were asleep, and the journalists were able to retreat from the battlefield at the end of each day. The Israeli airstrike destroyed three of the bungalows while the occupants were asleep, causing the journalists to retreat from the battlefield. The Israeli government has stated that it is reviewing the strike and is working to protect journalists from the ongoing conflict between Israel and Hezbollah.

-Opponents of the Equal Rights Amendment argue that it is a broad attempt by Democrats to grant rights to transgender athletes and migrants. The Vote No on Prop 1 political action committee has received $8 million in last-minute donations from conservative donors. Dick Uihlein, a scion of Schlitz beer founder and Uline shipping company founder, has given generously to former President Donald J. Trump and groups opposed to gay and transgender rights. The committee also received $1 million from Thomas J. Tisch, a financier who was a key supporter of Lee Zeldin's unsuccessful bid for governor of New York in 2022. The committee received $6.5 million from Dick Uihlein, who has given generously to former President Donald J. The amendment would not give undocumented immigrants the right to vote.

-Georgia's former Soviet republic faces a political crisis, with two new laws and a looming election leading artists to reconsider their livelihoods and whether they can stay in the country. Artist and drag performer Andro Dadiani reported that numerous artists have left Georgia in recent years due to the political situation. The country, home to a rich contemporary art and cultural landscape, has seen numerous artists leave due to the political situation. Georgia, a former Soviet republic, is home to international figures such as Demna Gvasalia, the creative director of Balenciaga, Nino Haratischwili, and filmmaker Salomé Jashi. The situation has led to a potential last gasp for Georgia's rich contemporary art and cultural landscape.

NEW YORK POST

-Donald Trump's son, Barron Trump, has been instrumental in reaching some of his biggest audiences during the 2024 election cycle through his appearances on podcasts aimed at Gen Z and millennial men. Trump's 78-year-old dad has often credited Barron with helping him pick his podcast spots. Trump has appeared on various podcasts, including "This Past Weekend with Theo Von," "Flagrant" with comedian Andrew Schulz, and the "PBD Podcast" with businessman Patrick Bet-David. Trump's Aug. 20 appearance with Theo Von, which included a discussion of cocaine, has garnered 14M views alone. Trump's Oct. 9 "Flagrant" appearance with Schulz had received 6.2M views, while Trump's Oct. 17 sit-down with Bet-David had a YouTube audience of 2.8M. Trump also appeared in June on Logan Paul's "Impaulsive" podcast and taped an appearance on "The Joe Rogan Experience," the most-listened-to podcast on Spotify. Democratic nominee Kamala Harris' forays into the podcasting jungle have had less impressive results, with an interview with "The Shade Room" having just over 144,000 views as of Friday and an eight-minute clip of her appearance on the popular "Call Her Daddy" podcast having a relatively paltry 675,000 views as of Friday. Trump campaign senior adviser Jason Miller praised Barron for his recommendations, stating that non-traditional media like podcasts and YouTube shows help meet voters where they are at.

-Delta Air Lines has filed a lawsuit against CrowdStrike in Georgia state court after a global outage in July caused mass flight cancellations, disrupted travel plans of 1.3M customers, and cost the carrier over $500M. The lawsuit called the faulty software update from CrowdStrike "catastrophic" and claimed that the firm forced untested and faulty updates to its customers, causing over 8.5M Microsoft Windows-based computers around the world to crash. The outage affected industries such as banks, healthcare, media companies, and hotel chains. Delta claims CrowdStrike is liable for over $500M in out-of-pocket losses, lost profits, expenditures, and reputational harm and future revenue loss. The Transportation Department opened an investigation into the incident. Delta's lawsuit argues that if CrowdStrike had tested the faulty update on even one computer before deployment, the computer would have crashed.