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Six senators call for Trump administration to 'immediately reverse course' on Russian diesel plan
A bipartisan group of six senators are calling on President Donald Trump’s administration to “immediately reverse course” on a plan to purchase diesel from Russia as part of an effort to lower high fuel prices.
Six senators call for Trump administration to 'immediately reverse course' on Russian diesel plan
A bipartisan group of six senators are calling on President Donald Trump’s administration to “immediately reverse course” on a plan to purchase diesel from Russia as part of an effort to lower high fuel prices.
Some Republicans reject Trump’s move to import diesel fuel from Russia
“It’s a grave error by the president,” said Rep. Don Bacon, a Nebraska Republican. “People realize that the sanctions on Russia are appropriate when Russia’s invading a country."
Trump says Russia and Ukraine agree to 'energy ceasefire'
US President Donald Trump said in a brief statement Sunday that Russia and Ukraine had agreed to halt strikes on each other's energy infrastructure, prompting surprise from Ukraine's leader, who
Andy Burnham says it is clear Russia interfered in Brexit vote
PM says he asked question upon entering No 10 but does not reveal who gave him ‘clear answer’ that Russia meddled
Trump says Ukraine and Russia have agreed to energy ceasefire
President Donald Trump announced Sunday that Russia and Ukraine have agreed to what he described as an “energy ceasefire.”
Trump says Russia and Ukraine reach ‘energy ceasefire’ but gives no details
Trump’s brief post said only that the ceasefire takes effect immediately and that both sides had agreed to it.
Trump says Russia and Ukraine reach ‘energy ceasefire’ but gives no details
Trump’s brief post said only that the ceasefire takes effect immediately and that both sides had agreed to it.
Trump announces immediate energy ceasefire between Russia and Ukraine
President Donald Trump declared an immediate energy ceasefire, but his recent deal easing Russian diesel exports drew sharp criticism from Kyiv.
Russia-Ukraine energy ceasefire ‘effective immediately’, says Trump
"Do not break it! [the ceasefire]", Trump wrote on his social media.
'Why not?' - Germany sporting director Völler gives Füllkrug hope
Germany sporting director Rudi Völler has boosted Werder Bremen striker Niclas Füllkrug's hopes of a return to the national team. The 33-year-old, overlooked in Jürgen Klopp's first squads for the recent Nations League games, scored for a fourth Bundesliga game in a row in Friday's 2-2 draw at Borussia Dortmund.
Sweet protein brazzein shows promise in reducing blood sugar spikes: Study
Russian research reveals that the protein brazzein could help reduce blood sugar spikes.
Politics chat: Trump announces fuel deal with Russia. What does it mean for sanctions?
President Trump announced a deal to import Russian fuel to the U.S. We look at what this means for the sanctions he recently signed off on against Russia, as well as the U.S.'s support for Ukraine.
Tickets for Leverkusen: Advance sales start on Monday!
Members on Monday, October 12, at noon.This article was translated into English by Artificial Intelligence. You can read the original version in 🇩🇪 here.
UK does not support Trump's Russia diesel deal, says Streeting
The defence secretary says the US and its allies need to increase pressure on Vladimir Putin to end the war with Ukraine.
Britain stands behind Zelenskyy, says Streeting after Trump’s call for new leader in Ukraine
Defence secretary backs Ukrainian president and says priority is to maintain western unity over Russia conflict
WHO says no plague case registered after Russian lab worker’s death
The WHO says the lack of a confirmed diagnosis remains a key uncertainty, with no sign of ongoing transmission.
Mystery surrounds young worker's death at Russia lab studying severe diseases
The World Health Organization says it still doesn't know what caused the death of a young worker at a Russian lab focused on plague and other illnesses
Mystery surrounds young worker's death at Russia lab studying severe diseases
The World Health Organization says it still doesn't know what caused the death of a young worker at a Russian lab focused on plague and other illnesses.
Trump calls for Ukraine to replace Zelenskyy after clash over Russia diesel deal: 'Get a new president'
President Donald Trump demanded Volodymyr Zelenskyy stop striking Russian oil refineries, warning the attacks worsen global diesel and fuel supplies.
Russian Anti-Plague Laboratory Death Raises Questions On Biosafety And Global Health
A number of questions linger after the Russian anti-plague laboratory death. A doctor explains the most important questions that remain that impact public health.
Did Russia play by the rules in reporting lab workers death?
A global treaty signed by 197 countries — including Russia — requires reporting any death that could be a sign of an outbreak to come.
🚨 Augsburg-Bayern XIs: Saibari starts; Gnabry on the bench!
Augsburg and Bayern kick off Saturday's Bundesliga action, alongside other matches. The Bavarians want to capitalize on Borussia Dortmund's slip-up after they drew with Werder Bremen on Friday despite...
Russia Using Taliban Ties To Reshape Regional Politics, Says Pakistani Analyst
A Pakistani security analyst says Russia’s changing stance towards the Taliban and ISIS suggests Moscow is reshaping its Afghanistan policy and creating a new “Great Game” in the region.
Ethan Nwaneri Continues Promising on Loan at Borussia Dortmund
Arsenal loanee, Ethan Nwaneri has continued his encouraging start to life in Dortmund. He started Borussia Dortmund’s first game after the September international break against Werder Bremen in a 2-2 draw, marking three consecutive starts for his club in all competitions.
Trump deal for Russian diesel sparks anger in Ukraine, doubts among analysts
President Donald Trump said on Friday he secured an agreement from Russian President Vladimir Putin to supply markets with Russian diesel fuel as he works to bring down energy costs ahead of the midterm elections.
Trump announces diesel fuel deal with Russia
President Donald Trump said Friday that he and Russian President Vladimir Putin agreed to a deal to supply the United States with Russian diesel fuel. Diesel prices remain a significant issue ahead of the 2026 midterm elections amid the war in Iran. Trump administration officials were previously working on freeing up Russian diesel, which had […]
Trump announces diesel deal with Russia in bid to lower prices
The amount is small compared with U.S. demand, but the deal aligns the U.S. with Russia and against Ukraine’s efforts to bomb Russian refineries.
Trump Says He Will Import Russian Diesel Fuel Amid High Prices
President Trump said Russia had agreed to ship potentially millions of tons of diesel fuel in the coming months. But Russia has an ongoing ban on exporting diesel.
Trump says US to get diesel from Russia
Trump’s shocking announcement comes after he signed a sweeping Russia sanctions law last month.
Did Russia play by the rules in reporting lab worker's death?
A global treaty signed by 197 countries — including Russia — requires reporting any death that could be a sign of an outbreak to come.
Who’s afraid of a 6-hour documentary about exiled Russian journalists?
Julia Loktev has released a new documentary, “My Undesirable Friends: Part II — Exile,” capturing the lives of Russian journalists who fled the country after Russia invaded Ukraine. Loktev began
Russia lifts plague lab-related quarantine measures. Should China be relieved?
Moscow says the incident is over but questions remain among Chinese commenters and others on social media globally.
NEWSBRIEF: HURRICANE ISAIAS, UKRAINE WAR LATEST, POLITICS OF IRAN WAR
Gulf Coast Preps for Isaias, Ukraine expects Russian winter offensive, and Trump's Iran War in focus as Midterms approach.
OpenAI users in Russia, Iran used models to push political agenda online, in media
OpenAI banned several accounts associated with two propaganda operations based in Iran and Russia, respectively, it confirmed Thursday. The latter of which the tech company said had the greatest re…
Russia’s plague scare and the danger of unpreparedness
The erosion of global public health infrastructure does not serve America's interests.
The big unanswered question about Russia's 'plague' death
Russia says it is winding down precautionary measures taken after a lab worker at a plague research institute died. But what made officials think these were needed at all?
Photo shows top Trump aide's daughter with pro-Russia politician in Bosnia
Katie Wiles is a partner at the political lobbying firm Continental Strategy. A spokesperson for the firm acknowledged to CBS News on Thursday that Wiles had taken the trip to Republika Srpska but not on business.
Open science is compatible with research security, says Canada’s chief science advisor
Open science is “not incompatible” with research security and science leaders and policymakers should “demystify” the false dichotomy between the two, according to Mona Nemer, Canada’s chief science advisor. More than a decade ago, EU policymakers were promoting open science, open innovation and open collaboration across the world. It was a political movement that aimed to make scientific research, data, software, publications and methodologies transparent, accessible and reusable for everyone.But that rhetoric has changed over the past few years. After Russia invaded Ukraine in 2022 and Donald Trump came back to power in 2025, international partnerships have become more pragmatic. Countries are trying to implement protectionist policies and governments are increasingly worried about technology espionage. According to Nemer, science can remain open if the sector can come up with improved security protocols that would protect research data from undue manipulation by foreign actors. “If anybody can fiddle with the with the data, then [open science] is actually quite dangerous and quite useless,” she told Science|Business. Universities and research institutions are increasingly vulnerable to attempted espionage and other types of foreign interference. In September, the UK’s domestic counter-intelligence service MI5 issued a security warning against collaborations with the China General Technology Research Institute. And earlier this year, Germany’s Helmholtz Center for Information Security was criticised by federal research minister Dorothee Bär, who told a parliamentary hearing that “existing rules and systems” at the institute “were not suitable” for preventing leaks to China. According to Nemer, universities and research institutions should perhaps follow the example of the private sector, as companies have been able to safeguard their research while still publishing results. “I think that there is a level of research security hygiene that researchers and institutions need to just adopt,” she said. “You don't have to tell Sanofi or IBM how to safeguard their research, which they end up publishing anyway.”While certain areas of research will not be open for collaboration with certain partners, in other areas cooperation is necessary even with researchers based in adversarial countries. “I stress this because politics change,” she said. “Science and politics don't make for good fellows, and whether we like it or not, politics will influence certain things.”Researchers will play an important role in “protecting the integrity of science,” said Nemer. “I think that it's time that there's a commitment to a certain scientific compact, so that citizens don't think that science is actually an open door for espionage and for anti-nationalism.”New partnershipsNemer spoke with Science|Business on the margins of the Hamburg Science Summit on September 17, the day when Canadian Prime Minister Mark Carney called for increased cooperation with the EU, including in science and technology. Canada is looking to strengthen ties with partners in other corners of the world, after the Trump administration threatened to put tariffs on Canadian goods and services and even openly suggested Canada could become the 51st state. In parallel, the US government has indicated it wants to retreat from international science projects, including US collaboration with Europe’s CERN particle accelerator and other big science labs.Related articlesThe stats we need to better understand R&DCanada looks to deepen research and education links with the EUCan researchers trust that AI models won’t leak their ideas?Nemer said the US is still a science “powerhouse,” but Canada and Europe will have to work closely together on global challenges. “It’s important for both [sides], but I think it's also important for the rest of the world, because the cut in funding for development, in health, in regions like Africa and other places, have dramatic effects.” The Trump administration is also planning a review of the Nelson memo, a Biden-era document that mandated that results of federally funded research would be openly available. With that idea being called into question, Nemer said it could be “very disruptive” to scientific collaborations and could jeopardise research on climate change, the Arctic and global health. “When your collaborator suddenly tells you I'm not going to share the data with you as a researcher, if this happens, I think it's very worrisome,” she said. “I'm certainly hoping that a lot of the Canadian institutions, funders, researchers, have started looking at joining forces on databases and using more European research infrastructures,” Nemer added.
Russia’s public health watchdog denies a second infection in suspected pneumonic plague case
Russia’s public health watchdog has denied that a lab worker who died in Siberia had spread infection to another person as global concerns swirled about suspected pneumonic plague.
Russia's public health watchdog denies a second infection in suspected pneumonic plague case
Russia's public health watchdog on Thursday denied that a lab worker who died in Siberia had spread infection to another person, as global concerns swirled about suspected pneumonic plague.Rospotrebna...
Russia's public health watchdog denies a second infection in suspected pneumonic plague case
Russia’s public health watchdog has denied that a lab worker who died in Siberia had spread infection to another person as global concerns swirled about suspected pneumonic plague.
Russia's public health watchdog denies a second infection in suspected pneumonic plague case
Russia’s public health watchdog has denied that a lab worker who died in Siberia had spread infection to another person as global concerns swirled about suspected pneumonic plague.
Covid, Brexit and Liz Truss mini-budget led to lasting decline in mental health, study finds
Researchers found five events, including Russia’s invasion of Ukraine, caused serious damage to mental wellbeing across UK
Juventus joins the race for the new Jude Bellingham
Borussia Dortmund has unearthed a player they believe could be the next Jude Bellingham and they might lose him soon. Juventus is one of the clubs interested in the teenager.The player in question is ...
World Health Organization says Russian lab worker’s death has not been clearly linked to plague
Former US envoy demands answers on suspected plague death: ‘Hold the Russians’ feet to the fire’
The WHO seeks more details on the death of a plague research lab employee in Russia
The World Health Organization says it wants more information on what caused the death of an employee at a Russian plague research lab. Russia says the woman died of pneumonia of unknown origin.
What is the pneumonic plague?
The ancient disease of plague is back in the headlines after the death this month of a Russian lab worker.
Trump floats firing top political advisers after report they helped a pro-Russian government
President Donald Trump distanced himself on Wednesday from two of his top political advisers — less than 30 days before the midterm elections — writing that if their outside work presents a conflict, “I will terminate them, immediately!”
All 50 States Should Legalize The 'Booming Business' Of Marijuana, Brittney Griner Says
Brittney Griner, the professional basketball player who was previously incarcerated in Russia over possession of marijuana, says it’s time for cannabis to be legalized across the U.S., citing its role as a safer alternative to painkillers that athletes are commonly prescribed. “At this point, I feel like all 50 states…just might as well” legalize marijuana, […]
WHO questions Russia on reported second plague lab death
The World Health Organization is pressing Russia for more information about the unexplained death of a worker at a Siberian plague research institute — and a potential second incident. WHO Director…
WHO seeks details from Russia on media reports of a second lab worker with pneumonia
The World Health Organization said it had requested information from Russian authorities on media reports of a second laboratory employee with pneumonia of undetermined cause.
Emre Can sidelined until 2027
Borussia Dortmund captain Emre Can has suffered a fresh injury blow. According to Bild, the 32-year-old will unlikely return to team training until after the international break after requiring surger...
Kobel reflects on Newcastle interest and his Borussia Dortmund future
Borussia Dortmund goalkeeper Gregor Kobel has consistently been linked with a transfer over the past few years.Last summer, Newcastle United were reportedly interested in the Swiss shot-stopper, but h...
Russia pneumonic plague: Outbreak risk, symptoms, what to know
Fears of a pneumonic plague outbreak follow an Irkutsk lab employee's death last week. But the World Health Organization (WHO) says the risk is low.
Global health officials give update on Russian lab worker death
WHO says Russian health officials claim she died after getting severe pneumonia and plague not detected.
Health experts in touch with Russia since last Friday: US official
Fox News senior foreign policy correspondent Gillian Turner reports on Secretary of State Marco Rubio pressing Russia for information about a suspected plague death and the U.S. response on ‘Special Report.’
Health experts say public risk is low after reported plague death in Russia
Trump admin struggles to get answers from Russia on potential plague death
The Trump administration is struggling to get clear answers about the death of a Russian laboratory worker at an institute dedicated to studying the plague, amid days of stonewalling from Russian officials about the mysterious circumstances surrounding the episode.
CDC: Monitoring Russian plague risk, "prepared" for any threat
The pneumonic plague is the most dangerous version of the plague.
What to know about plague amid reports of Russian lab worker's death
Health Alert – U.S. Embassy Moscow, Russia (October 6, 2026)
Health Alert – U.S. Embassy Moscow, Russia (October 5, 2026) Location: Irkutsk, Russia Event: The U.S. Embassy is aware of press reports from the Irkutsk region of suspected pneumonic plague resulting in the death of an individual and of associated quarantine measures in, and closures of, hospitals in Irkutsk. We continue to track the situation closely. The U.S. government has limited ability to help U.S. citizens in Russia, especially outside of Moscow. U.S. government personnel may face additional restrictions for personal and official travel to specific regions due to health and security concerns. The State Department’s Level 4 Travel Advisory (Do Not Travel) for Russia remains in place and states U.S. citizens currently in Russia should depart immediately. U.S. citizens planning travel to Russia are again strongly advised not to travel to Russia due to risk of wrongful detention and security concerns. Actions to Take: S. citizens in the area should follow the guidance of local health authorities, avoid affected facilities, and seek medical care promptly if they develop fever or respiratory symptoms. Visit the CDC Page on Plague for additional information about the disease. Visit the CDC Travelers’ Health Page for Russia for country-specific health updates. Monitor your health for 14 days following travel if you traveled to an area experiencing the outbreak. Review the S. Embassy country page for general health information. Refer to the Embassy’s list of medical providers. Check with your travel insurance provider about medical evacuation options should you fall ill while overseas. Have a plan to depart in an emergency that does not depend on U.S. government help. Monitor local media for updates. Be prepared to adjust your plans. Enroll in the Smart Traveler Enrollment Program(STEP) to receive health and security updates. Assistance: U.S. Embassy Moscow, Russia +7 495 728-5577 MoscowACS@state.gov U.S. Embassy Moscow web page State Department – Consular Affairs (+001) 888-407-4747 or (+001) 202-501-4444 Russia Country Information Follow us on Facebook and Twitter State Department – Consular Affairs 1-888-407-4747 or 1-202-501-4444
How Russia and the world are responding to a possible case of pneumonic plague after lab worker death
The World Health Organization says a possible case of pneumonic plague in Russia presents a “very low” risk outside the country as investigators look into what caused the death of a lab employee there last week.
What We Really Know About the Russian ‘Plague’ Case
Even though many questions remain unanswered, the death probably isn’t cause for panic.
'Whatever it is, they're worried:' Ex-WH health expert knocks lack of info on Russia plague
WHO: No further signs of infections at Russian plague lab
The World Health Organization (WHO) said Monday there were no further signs of infections at the Irkutsk Research Anti-Plague Institute of Siberia, following one researcher at the facility reported…
Blackhawks’ Patrick Kane Reacts to Alex Ovechkin’s Retirement News
The Washington Capitals Alex Ovechkin has enjoyed one of the most prolific NHL career’s of all time. Ovechkin has made his mark as one of the central figures of the modern game with a legacy that will be felt long after his playing days have concluded. Those days are coming soon as the Russian forward […] The post Blackhawks’ Patrick Kane Reacts to Alex Ovechkin’s Retirement News appeared first on HEAVY.
Top Line MN Wild Center Leaves Practice with Injury
The Minnesota Wild have another injury concern after Russian centerman Danila Yurov left Monday's practice early with a previously undisclosed injury.
RBI sees no signs of expropriation of Russian business, CEO says
Raiffeisen Bank International currently sees no signs of an expropriation of its Russian business, CEO Michael Hoellerer said on Monday, after several attempts by the Austrian lender to sell the division have failed.
Jobs in health care. Jobs for women. The US labour market is segmenting. Chernobyl’s radiation and Lenin’s love of literature.
Thank you for opening your Chartbook email. Elmer Bischoff, Two Figures at the Seashore, 1957 The only really dynamic job-creator in the US economy is health care: The largest crunch has come in Federal government, which has shed 2.7 m jobs. Source: tchouvkov on Twitter Tech is struggling. [ Joey Politano 🏳️🌈@JosephPolitano The US tech sector continues bleeding jobs in official data released today—overall, employment decreased by 17k last month and is down 69k over the last year That's nearly as bad as the worst of the 2024 tech-cession, and much worse than the 2022 boom or even pre-2020 norms 12:42 PM · Oct 2, 2026 · 15.2K Views 15 Replies · 47 Reposts · 390 Likes ](https://x.com/JosephPolitano/status/2106001807847940232?s=20) The new jobs are all for women. [ Justin Wolfers@JustinWolfers I'm not sure who saw this coming, but so far nearly all the jobs created during the second Trump administration have gone to women. 1:09 PM · Oct 2, 2026 · 33K Views 70 Replies · 146 Reposts · 644 Likes ](https://x.com/JustinWolfers/status/2106008723533533601?s=20) Meanwhile, real wages are being eaten up by modest over-target inflation. [ Heather Long@byHeatherLong The financial pain is real: Wage growth fell to 3% (y/y) in September. That's the lowest in 5 years. Wage growth: 3% Inflation: ~3.4% Inflation has eaten up all wage gains for the average worker since April. Many people are having to make hard choices about what to buy and what … 1:24 PM · Oct 2, 2026 · 37K Views 24 Replies · 275 Reposts · 533 Likes ](https://x.com/byHeatherLong/status/2106012367712620728?s=20) HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $60. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Elmer Bischoff, Bathers, 1960 Americans are disillusioned with higher ed. For contributing subscribers only. Subscribe Where the Chernobyl radiation went. h/t Simon Kuestenmacher aka simongerman600 How Lenin’s love of literature shaped the Russian Revolution - Tariq Ali This, then, was the intellectual atmosphere in which Lenin came of age. His father, a highly cultured conservative, was the chief inspector of schools in his region and much respected as an educationalist. At home, Shakespeare, Goethe and Pushkin, among others, were read aloud on Sunday afternoons. It was impossible for the Ulyanov family – “Lenin” was a pseudonym adopted to outwit the tsarist secret police – to escape high culture. At high school, Lenin fell in love with Latin. His headteacher had high hopes that he might become a philologist and Latin scholar. History willed otherwise, but Lenin’s passion for Latin, and taste for the classics, never left him. He read Virgil, Ovid, Horace and Juvenal in the original, as well as Roman senatorial orations. He devoured Goethe during his two decades in exile, reading and rereading Faust many times. Lenin put his knowledge of the classics to good use in the time leading up to the October revolution of 1917. In April of that year, he broke with Russian social-democratic orthodoxy and, in a set of radical theses, called for a socialist revolution in Russia. A number of his own close comrades denounced him. In a sharp riposte, Lenin quoted Mephistopheles from Goethe’s masterwork: “Theory, my friend, is grey, but green is the eternal tree of life.” Source: The Guardian Elmer Bischoff, The River, 1953 If you’ve scrolled this far, you know you want to click: Subscribe
Serb nationalist Milorad Dodik credits 'vast majority' to Trump, Putin
Pro-Russia Serb nationalist politician Milorad Dodik – who is serving a six-year ban from holding public office for defying rulings of Bosnia’s international envoy and Constitutional Court, claimed victory on Sunday, saying his party would hold a “vast majority”.
Russia hospitalizes almost 200 people after researcher's death from plague: reports
Nearly 200 people are under medical observation in Russia’s Irkutsk region over suspected exposure to plague, according to local media reports.
Scoop: White House monitors suspected plague outbreak in Russia
Administration is "aware, monitoring the outbreak, and assessing options," an official told Axios.
Polls close in Bosnia in race where pro-Russia politician looms large and ethnic tensions simmer
Polls have closed evening in Bosnia after an election shaped by economic pressures, a youth exodus and concerns over corruption. Some leading politicians stoked ethnic tensions that have divided the
Bosnia votes as pro-Russian politician looms large and ethnic tensions simmer
Around 3.4 million voters are choosing the three members of the country's multi-ethnic presidency, lawmakers for the national Parliament and heads of institutions for the country's two entities.
Ukraine’s Science Under Fire: Russia Is Targeting Knowledge, People and the Future
Russian strikes are killing scientists, destroying laboratories and equipment, and putting Ukraine’s scientific and technological capacity at risk.
How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.
Bosnia votes as pro-Russian politician looms large and ethnic tensions simmer
Bosnia is holding a general election with citizens of all ethnicities focused on everyday problems. But mainstream politicians are whipping up war-era tensions that have kept the country divided since
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Bosnians are heading to the polls Sunday in elections that could impact their European Union membership bid and the influence that Russia seeks over the small Balkan nation. Bosnia and Herzegovina,…
Bosnia votes as pro-Russian politician looms large over the race and ethnic tensions simmer
Bosnia is holding a general election with citizens of all ethnicities focused on everyday problems
Bosnia votes as pro-Russian politician looms large over the race and ethnic tensions simmer
Bosnia is holding a general election with citizens of all ethnicities focused on everyday problems | WWJ Newsradio 950
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