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Efforts this week by Qatari mediators to broker a diplomatic breakthrough between the U.S. and Iran have made little progress, with neither side willing to budge, according to three sources familiar with the talks. The stalemate bolsters the belief on both sides that a renewed military conflict is becoming more likely. U.S. officials think President Trump could order a return to major combat operations after the midterms. Axios
Donald Trump has held crisis talks with advisers over whether to impose a diesel export ban or take other steps to contain a fuel crisis that threatens to derail his Republican Party’s midterm election campaign. RTRS
Donald Trump endorsed using outside auditors to assess the safety of AI systems in a pact with Silicon Valley leaders that sidesteps new government rules. BBG
Abu Dhabi is pursuing a $300 billion infrastructure push to reduce reliance on the Strait of Hormuz and curb Iran’s leverage. BBG
Trump released the White House Accord on Super Intelligence following the meeting with AI executives on Tuesday, while the document noted that every company is responsible for developing its own technology safely and each should apply four layers of controls and audits, including implementing strong internal controls to oversee model capabilities and alignment.
Democratic Lawmaker Raskin has reportedly sent letters to Amazon, Google, Meta and Oracle, requesting information regarding NDAs signed with government officials in relation to AI data center projects: WSJ.
China’s economy showed signs of improvement at the end of the third quarter, with official and private gauges of factory, services and construction activity all picking up. WSJ
China’s latest economic stimulus package appears designed to keep economic growth on target rather than deliver a broad revival, leaving investors waiting for more aid to address the country’s underlying demand weakness. BBG
DeepSeek released software developed with Huawei to program AI chips, highlighting their push to challenge Nvidia. BBG
Inflation overshot estimates in France and Italy with energy remaining the main driver. Prices jumped 3.4% in France, the fastest in more than two years, while in Italy they advanced by 4.1%, the most since 2023. BBG
President Donald Trump could unveil plans as soon as Wednesday to tap South Korea's pledged strategic investment package for about $54 billion to build a liquefied natural gas facility in Alaska and several other major US projects. RTRS
Trump told Axios that Jay Clayton would be a good AI czar.
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