Thursday's News Links

[CNBC] Stocks are steady as traders eye AI trade, Supreme Court on tariffs: Live updates

[AP] Shutdown progress in doubt as Democrats grow emboldened from election wins

[Reuters] Supreme Court's 'major questions' doctrine looms over fate of Trump's tariffs

[AP] Trump has other tariff options if the Supreme Court strikes down his worldwide import taxes

[CNBC] Job cuts in October hit highest level for the month in 22 years, Challenger says

[Axios] Why the AI executives are mad at their investors

[The Hill] Household debt hits record $18.6T as delinquencies remain elevated

[Yahoo/Bloomberg] Mamdani’s ‘Trump-Proofing NYC’ Campaign Sets Up Fight With White House

[Reuters] Bank of England holds rates in knife-edge vote that hints at December cut

[Reuters] Russia's Volgograd oil refinery halts operations after Ukrainian drone attack, sources say

[Bloomberg] The Fed’s New Patience Recognizes Reality

[Bloomberg] UBS Boss Is Right on Private Credit Rating Risks

[Bloomberg] The AI Bubble Has Sucked in France and Germany, Too

[Bloomberg] Ukraine Claims Drone Attack at Lukoil Oil Refinery in Russia

[NYT] What a Rough Day in Court Means for Trump’s Tariffs

[WSJ] U.S. to Reduce Flight Traffic by 10% at 40 Airports Because of Shutdown

[WSJ] A Justice-by-Justice Breakdown on Trump’s Tariffs

[WSJ] Employers Cut More Than a Million Jobs This Year

[WSJ] Economic Anger Once Again Punishes the Party in Power

[WSJ] AI Is Accelerating Tech Giants’ Dominance of the Ad Market

[WSJ] Trump’s Tariffs Are a Massive Money Grab. That’s Why They Are in Trouble.

[WSJ] Trump Expresses Reservations Over Strikes in Venezuela to Top Aides

[FT] Utah’s First Brands whale even leased the office furniture

[FT] US adds ‘poison pills’ to Asia trade pacts to counter China

[FT] Leverage creeps into gilts market as insurers seek to boost returns

[FT] Life insurer Brighthouse agrees to $4.1bn takeover by Aquarian

[FT] China borrows as cheaply as US in dollar bond market

Wednesday Evening Links

[AP] FAA reducing air traffic by 10% across 40 ‘high-volume’ markets during government shutdown

[Axios] 40 airports to cut flights by 10% if shutdown continues, FAA says

[AP] Conservative Supreme Court justices appear skeptical of Trump’s sweeping unilateral tariffs

[Axios] Election results' message: Americans want things cheaper

[Politico] What’s really concerning Republicans after Tuesday’s romp

[Yahoo/Reuters] Nvidia's Jensen Huang: 'China is going to win the AI race,' FT reports

[AP] President Donald Trump, in Miami, brags about the economy despite an election-night rebuke

[Telegraph] On the frontline of America’s car repossession boom

[Axios] Putin orders nuclear testing preparations after Trump's surprise shift

[Bloomberg] EQT Chief Warns Private Equity’s Pursuit of Retail Cash Is Risky

[Bloomberg] Dollar Faces Risk of 2000s’ Boom-and-Bust 40% Decline, RBC Warns

[Bloomberg] Vanke Is Reigniting the Debate China Wants to Bury

[WSJ] Trump’s Tough Day at Supreme Court Puts Tariffs in Jeopardy

[WSJ] The Lessons of Ukraine’s Drone Warfare

[FT] Supreme Court appears sceptical of legal basis for Trump tariffs

[FT] Nvidia’s Jensen Huang says China ‘will win’ AI race with US

[FT] Putin says Russia may start nuclear weapons tests in response to Trump

Wednesday Afternoon Links

[CNBC] Dow rises after AI trade recovers, Supreme Court shows doubt on Trump tariffs: Live updates

[AP] Conservative Supreme Court justices appear skeptical of Trump’s sweeping unilateral tariffs

[Yahoo/Reuters] US household debt up modestly in third quarter, New York Fed says

[Yahoo/ABC] Americans' household debt hits new record high, according to report

[Yahoo/Reuters] Fed's Miran continues to press for rate cuts in Yahoo Finance interview

[Bloomberg] Most Supreme Court Justices Are Skeptical of Trump’s Tariffs

[Bloomberg] US Services Activity Expands at Fastest Pace in Eight Months

[Bloomberg] US Consumer Delinquencies Climb as More Student Debt Goes Unpaid

[Bloomberg] Putin Warns Russia May Commence Nuclear Tests After Trump Threat

[WSJ] U.S. Services-Sector Activity Accelerates at Fastest Pace Since February

[WSJ] The Market Just Wobbled. Will It Fall Down?

[WSJ] The Economics Behind Zohran Mamdani’s Biggest Plans