US, Canada consider reopening Keystone XL pipeline in trade talks – FT

The Canadian government is considering pursuing a restart of the Keystone Pipeline as part of a grand bargain to ease some of President Trump’s tariffs on products such as steel and aluminum.

Canada’s Energy Minister, Tim Hodgson, shared insights into this potential move, highlighting ongoing discussions aimed at improving trade relations between the two countries.

The proposed strategy could serve as a critical step toward resolving tariff disputes and fostering stronger cross-border cooperation in the energy sector.
https://seekingalpha.com/news/4505036-us-canada-consider-reopening-keystone-xl-pipeline-in-trade-talks—ft?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

“They’ll call you a terrorist and ruin your life”: Dems sound alarm over Trump’s IRS weaponization

Democrats in Congress are blasting the recent revelation that President Donald Trump will push the Internal Revenue Service (IRS) to investigate left-leaning groups and political opponents, calling it a blatant weaponization of a government agency. “Donald Trump believes he’s a king, and he’s determined to wield every agency under his control as a weapon to crush political opposition and silence free speech,” Senate Finance Committee Ranking Member Ron Wyden, D-Ore., said in a statement shared with Salon on Thursday. “The Trump administration will try to legitimize this abuse with legal opinions and procedural lingo, but the implicit threat is that if you give to a progressive cause, they’ll deem you a terrorist and ruin your life.” According to a report from the Wall Street Journal, the Trump administration is preparing to overhaul the way the IRS investigates crimes, paving the way for more probes into groups and individuals who do not align politically with the president. Treasury Secretary Scott Bessent‘s adviser, Gary Shapley, would reportedly become the director of the IRS’s criminal investigative division. Bessent, as acting IRS commissioner, has already been directed by Trump to compile financial records for left-leaning political organizations. Start your day with essential news from Salon. Sign up for our free morning newsletter, Crash Course. Vice Chairman of the Senate Intel Committee, Mark Warner, D-Va., called the development “absurd and dangerous” in a post on X. “As if Trump’s weaponization of the justice system hadn’t gone far enough, now he’s weaponizing the IRS against his perceived enemies,” Warner said. “It’s a clear and authoritarian attempt to silence critics.” Rep. Jimmy Gomez, D-Calif., said the nation should be “concerned” about Trump’s use of the IRS in a social media post. “Trump is illegally going after his political enemies with the IRS, the very kind of abuse of power that destroys democracies from within,” Gomez said.
https://www.salon.com/2025/10/16/theyll-call-you-a-terrorist-and-ruin-your-life-dems-sound-alarm-over-trumps-irs-weaponization/

South and Southeast Asia are on the front lines of the democracy-autocracy showdown

By Prakhar Sharma and Gauri Kaushik Bottom lines up front The region includes resilient, strained, fragile, and collapsed democracies-all benefit from democracy assistance that preserves civic space, delegitimizes authoritarian leaders, and protects free media across the region. Key challenges include no-strings-attached Chinese financing, restrictions on political choice, and disinformation. Protecting democratic institutions and practices can create governance stability and help the United States fortify important economic relationships. This issue brief is the second in the Freedom and Prosperity Center’s “Future of Democracy Assistance” series, which analyzes the many complex challenges to democracy around the world and highlights actionable policies that promote democratic governance. Introduction How do democracies die? Not with a dramatic coup, but through quiet, intentional dismantling-rules bent just slightly, laws rewritten, oppositions discredited and then disarmed. This warning from political scientists Steven Levitsky and Daniel Ziblatt has proven prophetic across South and Southeast Asia, where the past decade has witnessed steady democratic erosion. According to Freedom House’s 2025 assessments, nine countries across South and Southeast Asia registered net declines in political rights and civil liberties since 2015-including Cambodia, India, Indonesia, the Maldives, Myanmar, Pakistan, the Philippines, Thailand, and Vietnam-while others such as Bangladesh and Sri Lanka saw modest improvements. The Varieties of Democracy (V-Dem) Institute also reports significant declines in the Electoral Democracy Index scores of several countries in the region in recent years. This trend underscores that even seemingly stable democracies can undergo serious erosion of their democratic institutions. Yet the pattern is not uniform. From Indonesia’s institutional resilience to Myanmar’s military collapse, the region reflects not a single arc but a mosaic of democratic experiences-some unraveling, others resisting, many caught in an uneasy limbo. To make sense of these divergent patterns, this paper outlines four broad categories of country cases-not intended to simplify, but to reflect recurring traits: democracies that have held firm under pressure (resilient democracies); those that appear intact but are internally weakening (strained democracies); those whose institutions exist in name more than practice (fragile democracies); and those where the democratic practice has been openly dismantled (collapsed democracies). With nearly 2. 8 billion inhabitants, South and Southeast Asia are on the front line in the contest between liberal and authoritarian governance models. China’s state-led modernization offers an appealing, albeit illiberal template. Russia and other powers lend not just rhetorical support but operational tools to repress, manipulate, and surveil. The region’s democratic trajectory will carry implications far beyond its borders. As democracy is tested and redefined here, the terms of legitimacy, resistance, and political belonging across much of the world will be as well. Resilient democracies Despite facing similar pressures as their neighbors, Malaysia and Indonesia have managed to preserve their democratic institutions through a combination of judicial independence, active civil society, and political cultures that still value competitive elections. Their resilience offers lessons for other countries grappling with authoritarian pressures. Malaysia Malaysia has demonstrated remarkable democratic resilience through successive political transitions, most significantly during the watershed 2018 elections that ended Barisan Nasional’s sixty-one-year grip on power.[i] Despite the political instability that followed-including the controversial “Sheraton Move” parliamentary reconfiguration and three changes in premiership between 2020 and 2022-constitutional processes prevailed, ultimately yielding a durable unity government under Anwar Ibrahim after the 2022 elections. This political settlement between former adversaries reflects a maturing democratic culture where coalition-building efforts trumped winner-takes-all politics. While Malaysia continues to navigate challenges including ethnic and religious polarization, endemic corruption networks, and institutional legacies from its semi-authoritarian past, its judiciary has increasingly asserted independence in landmark cases, most notably in upholding the conviction of former Prime Minister Najib Razak.[iii] Civil society organizations maintain active oversight of governance, even as authorities occasionally employ outdated sedition laws to restrict political expression. Malaysia’s capacity to weather multiple leadership crises while preserving core democratic institutions stands in sharp contrast to the authoritarian regression evident elsewhere in Southeast Asia. Indonesia The fall of Suharto’s authoritarian regime in 1998 ushered in democratic reforms in Indonesia, leading to multiple peaceful transfers of power. In February 2024, former General Prabowo Subianto, Suharto’s controversial ex-son-in-law, won the presidency in an election widely considered competitive, despite concerns over the outsized influence of his predecessor, Joko Widodo. Provincial and regional elections in November further demonstrated Indonesia’s commitment to regular electoral processes. While Indonesia largely operates within democratic rules, it continues to grapple with systemic corruption and restrictions on religious freedom. Although the constitution guarantees religious freedom, only six religions are officially recognized, and blasphemy laws are enforced, leaving religious minorities vulnerable to discrimination. These challenges reflect enduring tensions within the country’s democracy. Nevertheless, civil society continues to play an essential role in defending democratic norms. In recent months, rushed legislative processes and Subianto’s appointment of an active general to a civilian post prompted mass student protests demanding transparency, demonstrating continued public engagement and resistance in Indonesia. Strained democracies India and the Philippines reveal a troubling paradox: Even countries with deep democratic traditions can experience significant erosion while maintaining competitive elections. Their struggles show that democracy’s survival depends not just on electoral competition, but on protecting the institutions that make elections meaningful. India Since Prime Minister Narendra Modi’s election in 2014, India has experienced rising Hindu nationalism, communal tensions, and constraints on civil liberties, alongside a concentration of executive power and weakened checks and balances. Communal violence has increased rapidly; in 2024, there were fifty-nine communal riots, an 84 percent increase from 2023. Media freedom has deteriorated, with increased censorship of content critical of Modi and the Bharatiya Janata Party (BJP), such as a BBC documentary and films depicting the 2002 Gujarat riots. Independent journalism is under attack, and civil society groups have been targeted through funding cuts and mass shutdowns. In the face of these threats, India’s democratic institutions have shown resilience. The 2024 general elections, which were peacefully conducted with over 640 million voters, were widely regarded as free and fair. Although Modi secured a third term, the BJP underperformed, losing sixty-three seats and failing to secure a parliamentary majority. While the BJP’s platform centered religious nationalism, voters prioritized local issues, reflecting the enduring strength of India’s electoral processes. The Philippines The Philippines has experienced significant political and human rights challenges in recent years. Under the populist and illiberal administration of former President Rodrigo Duterte, the country witnessed thousands of extrajudicial killings linked to a brutal drug war. Democratic institutions weakened rapidly, and critics in the judiciary were forced out as the Supreme Court began backing the executive. While the Philippines has a historically strong and diverse civil society, civic space and the media environment were suppressed through regulations, censorship, intimidation, and disinformation. In 2022, Duterte was succeeded by President Ferdinand Marcos Jr., the son of the late dictator Ferdinand Marcos Sr. Although human rights have improved slightly under the current president, over 840 extrajudicial killings have occurred since he took office. Duterte’s March 2025 arrest in Manila on an International Criminal Court warrant exacerbated the tense divide between Marcos Jr. and Vice President Sara Duterte ahead of the May midterm elections. While competitive, the elections exposed institutional vulnerabilities and were marked by aggressive disinformation campaigns, concerns about Chinese interference, and deep polarization. The government continues to bring unfounded cases against civil society groups, and “red-tagging” (i. e., accusing individuals and groups of communist sympathies) persists, exposing people to harassment and violence. Despite these threats, civil society remains active, criticizing injustices, advocating for reforms, and fighting for accountability. Fragile democracies Bangladesh and Pakistan remain caught between democratic aspirations and authoritarian realities. While their institutions remain weak and elections flawed, the persistence of civil society activism and public demands for accountability suggest that democratic possibilities have not been extinguished. Bangladesh Bangladesh is amid a pivotal political transition following the ousting of Prime Minister Sheikh Hasina in August 2024. Hasina’s fifteen-year rule and the Awami League’s (AL) increasingly autocratic administration ended after mass student protests and were replaced by an unelected interim government led by Nobel laureate Muhammad Yunus. Although Yunus has pledged democratic reforms and elections, his administration continues to exhibit some of the authoritarian tendencies seen under Hasina. AL supporters, who once dominated Bangladeshi politics and suppressed opposition, now face similar harassment under the interim government and its allies. Despite the erosion of civil liberties and democratic institutions under the AL, Bangladesh’s economy averaged healthy annual growth of 6. 5 percent. However, following the political instability in 2024, foreign investments plummeted, inflation rose, and gross domestic product growth fell below 2 percent per annum. Meanwhile, the interim government has repeatedly postponed the promised elections, likely into 2026, raising concerns. Bangladesh’s democratic transition remains uncertain, with potential for either progression or regression. Opposition leaders have pushed for timely elections; this, along with economic and political reform, will be vital to sustaining the country’s democratic aspirations. Pakistan Pakistan’s persistent civil-military imbalance continues to hinder democratic prospects, with the military maintaining an outsized influence over the government. Judicial activism can act as a counterbalance, as Pakistan’s judiciary maintains remarkable independence despite the entrenchment of the military. Yet the assertiveness of the judiciary may also be a double-edged sword, increasing institutional competition and instability. Although the majority voted against the military establishment during the 2024 elections, the military continues to act as a veto power. Recent attempts to manipulate election outcomes, such as the rejection of former Prime Minister Imran Khan’s nomination papers, stripping his party, Pakistan Tehreek-e-Insaf (PTI), of its electoral symbol, and manipulating vote counts, were reminiscent of military-engineered elections in the 1990s. However, the failure of these interventions in 2024 has revealed vulnerabilities in the military’s grip, signaling the persistence of democratic aspirations and potential shifts in power dynamics. Collapsed democracies Myanmar and Cambodia demonstrate how quickly democratic gains can be reversed when authoritarian forces consolidate power. External support from China and Russia has made these reversals more durable, showing that democracy’s enemies are increasingly coordinated across borders. Myanmar Myanmar’s democratic experiment ended abruptly with the February 2021 military coup, which deposed the elected government of Aung San Suu Kyi and precipitated the country’s descent into widespread conflict. By early 2025, the junta’s territorial control had contracted dramatically, with large areas now governed by a patchwork of ethnic armed organizations and People’s Defense Forces aligned with the National Unity Government (NUG) operating from exile. The military has responded with escalating brutality-deploying airstrikes against civilian populations, systematically torturing political detainees, and implementing scorched-earth campaigns in areas of resistance-resulting in over 5, 000 civilian deaths and forcing more than 2. 5 million into displacement since the coup. Elections promised by the military have been repeatedly deferred, while Suu Kyi’s detention was extended for an additional two years in January 2025 through transparently politicized corruption charges. International engagement has fragmented along geopolitical lines, with Western nations strengthening sanctions and extending recognition to the NUG while China, Russia, and Thailand maintain pragmatic relations with the junta. Myanmar represents the region’s most catastrophic democratic collapse, transforming from an imperfect but functioning electoral democracy into a failing state characterized by civil conflict, economic implosion, and humanitarian catastrophe. Cambodia Cambodia’s democratic prospects continue to fade under the Cambodian People’s Party (CPP), now led by Hun Manet, who succeeded his father, Hun Sen, after uncompetitive elections in July 2023. Cambodian elections have been widely recognized as rigged, with international observers documenting widespread irregularities, fraud, and vote tampering. The disqualification of the main opposition party, the Candlelight Party, over alleged registration issues effectively dismantled meaningful electoral competition. The regime has become increasingly repressive, targeting critics like environmental and human rights activists through arbitrary arrests and forced disappearances. The CPP has also cracked down on independent media by revoking licenses and censoring critical media outlets. China’s growing influence in Cambodia has further entrenched the CPP’s authoritarian rule, as it provides economic support and political backing. As Cambodia’s largest investor, trading partner, and donor, China has been able to exert considerable sway over the administration’s policies, and Cambodia has aligned more closely with Beijing’s foreign policy interests. Without democratic alternatives to China’s influence and aid, this dynamic will leave little room for democratic renewal in Cambodia. Cross-cutting challenges Across South and Southeast Asia’s varied political systems, certain challenges repeatedly surface that make democratic governance more challenging regardless of a country’s context. Four of these challenges are particularly salient. Digital authoritarianism and the rewiring of civic space: The early hopes that digital tools might democratize information have been overtaken by a more sobering reality. Across the region, states now wield surveillance, censorship, and algorithmic distortion not as exceptions but as deft instruments of coercive control. India has deployed surveillance of online speech; Cambodia has centralized digital infrastructure control; and the Philippines has blurred state messaging and disinformation. These tools are part of a broader architecture of control, quietly redefining the limits of dissent and the shape of public discourse. China’s model and strategic recalibration: Beijing’s growing regional presence offers political elites a convenient alternative: stability without pluralism, growth without accountability, an undemocratic form of social contract. Chinese financing arrives without governance conditions and provides diplomatic cover against international scrutiny. Increasingly, the Chinese Communist Party also engages subnational actors-both governmental and nongovernmental-where scrutiny is weaker and institutional vulnerabilities are more pronounced. In Cambodia and Myanmar, this support has emboldened autocratic actors; in more open settings, it narrows strategic space for democratic engagement. Democracy assistance must contend with an emerging geopolitical reality that favors regime durability over democratic deepening. Developmental absolutism and the erosion of political choice: Democratic rollback is increasingly justified through development discourse. Leaders frame electoral mandates as licenses for centralized control while dismissing institutional checks as inefficiencies. In India and Bangladesh, majoritarian governance is defended as a prerequisite for growth; in Thailand and Singapore, technocratic authority substitutes for political deliberation. The result is marginalization of political choice, overtaken conveniently by performance-based legitimacy. ‘Information disorder and the fragility of shared reality: Across the region, democratic discourse is being reshaped by disinformation; algorithmic self-fulfilling echo chambers; and digitally amplified hate, especially through WhatsApp. In Myanmar, online propaganda fueled ethnic violence; in India and the Philippines, deepfakes and coordinated misinformation campaigns distort elections. The fundamental problem is the collapse of shared language through which citizens might contest, interpret, or imagine their politics. Democratic institutions cannot function when the conditions for contestation of ideas have eroded. Policy recommendations US government support for democracy should be targeted and responsive to the different realities of the countries within each of these categories. For instance, countries experiencing democratic breakdown need different support than those still defending democratic space or those working to deepen democratic quality. For resilient democracies: Deepening democratic quality Democratic resilience, while encouraging, should not be mistaken for consolidation. In countries like Indonesia and Malaysia, support should move beyond preserving existing norms to actively strengthening democratic infrastructure. Fast-tracked visas for civil society leaders-across regime types-could facilitate regional mentorship networks through which democratic lessons diffuse more organically, especially when those lessons emerge from other Asian contexts rather than transatlantic ones. Bilateral trade agreements can be made contingent on demonstrable gains in press freedom and judicial independence. Cross-border investigative journalism, jointly supported by local and international media, can expose corruption networks that threaten institutional integrity. For strained democracies: Defending democratic space Where democratic institutions are under strain-as they evidently are in India and the Philippines-US government support must focus on preserving the civic space and avoiding normalization of authoritarian tactics. It should avoid high-level engagement with leaders who are actively involved in prosecuting journalists and/or silencing dissent, even if technical cooperation continues in parallel. Development aid can be redirected from compromised central agencies toward subnational governments that are overtly committed to democratic norms. Targeted sanctions against individuals involved in judicial capture or media repression can also send clear signals of accountability. For fragile democracies: Building institutional resilience In fragile democracies like Bangladesh and Pakistan, where institutions exist but often lack independence and/or depth, the priority should be to rebuild credibility. International financial institutions, particularly the International Monetary Fund, should tie future programs to transparent constitutional processes that include the opposition’s participation. Funding for civil society-run parallel election observation/monitoring programs can strengthen integrity where official mechanisms fall short. Regional judicial networks can provide both technical assistance and normative pressure to bolster court independence and resist political interference. For collapsed democracies: Supporting democratic resistance Where constitutional order has collapsed-as in Myanmar and Cambodia-support must shift toward those still defending democratic legitimacy. Recognition and funding should be extended to exiled national unity governments and aligned civil society organizations that retain public trust. “Democracy visa” pathways can offer protection and continuity for endangered journalists and activists. Financial sanctions should be imposed on military units and regime-linked families responsible for repression, thus reinforcing pathways for international legal accountability. Addressing cross-cutting challenges Support secure communication tools and digital literacy to push back against growing digital authoritarianism. Offer faster, transparent infrastructure financing to counter China’s influence while underscoring the material benefits of democracy. Sponsor and fund research that links transparency to economic growth, and support business coalitions that champion the rule of law. Strengthen civic education and fact-checking efforts to resist disinformation and restore shared civic ground. Partner with regional democracies-Japan, South Korea, Taiwan, and Australia-to jointly support democratic actors across South and Southeast Asia. Such coordination not only amplifies reach but also serves as a visible and forceful counterweight to China’s expanding illiberal influence. Conclusion The Cold War model of supporting elections and civil society organizations, while still important, cannot possibly address the sophisticated ways that elected leaders employ to dismantle democratic institutions from within. We need a differentiated approach that recognizes the distinct challenges facing countries at different points along the democratic spectrum while addressing the cross-cutting pressures that undermine democratic governance across the region. Democracy assistance must evolve beyond its traditional fixation on electoral processes. Instead of just funding election monitors and civil society training, donors should condition trade agreements on improvements in press freedom, invest in secure communication technologies for activists, and support independent judiciaries through targeted capacity-building programs. Without these foundations, electoral democracy remains symbolic. The future of democracy in South and Southeast Asia will not only shape national destinies. It will quietly, but decisively, alter how the world understands power, legitimacy, and the meaning of democratic resilience. This is where the United States must lead-not only with aid dollars, but also with the political will to make democratic governance a nonnegotiable component of its economic partnerships. about the authors Prakhar Sharma is a public policy researcher with more than eighteen years of experience in democratic governance and fragile states. He completed his PhD in political science at Syracuse University. Sharma was a senior specialist at the International Republican Institute, and has advised US government institutions, multilateral organizations, and Afghan partners on conflict and state-building. Gauri Kaushik holds a master’s degree from Georgetown University in democracy and governance, where she focused on democratic and security challenges in the Indo-Pacific region. She has worked on democracy assistance and development programs at organizations including the National Democratic Institute and Democracy International. Related content The future of democracy assistance This paper series provides an in-depth look at the many complex challenges to democracy around the world and highlights actionable policies that promote democratic governance. Trackers and Data Visualizations Freedom and Prosperity Indexes The indexes rank 164 countries around the world according to their levels of freedom and prosperity. Use our site to explore twenty-eight years of data, compare countries and regions, and examine the sub-indexes and indicators that comprise our indexes. Explore the program.
https://www.atlanticcouncil.org/in-depth-research-reports/issue-brief/south-and-southeast-asia-are-on-the-front-lines-of-the-democracy-autocracy-showdown/

Trump says he wrapped call with Putin, calls it “very productive”

President Trump posted on social media on Thursday that he had a “very productive” call with Russian President Vladimir Putin.
https://www.cbsnews.com/video/trump-says-he-wrapped-call-with-putin-calls-it-very-productive/

BlackRock Unveils Treasury Liquidity Fund to Manage Stablecoin Reserves

**BlackRock Launches Revamped Fund to Manage Stablecoin Reserves**

BlackRock, one of the world’s largest asset managers with $13.5 trillion in assets, is expanding its footprint in the stablecoin market by launching a restructured money market fund designed specifically to manage reserves for US dollar-pegged stablecoins. This move aligns with the new regulatory landscape and positions BlackRock as a key player in the rapidly growing stablecoin sector, which is projected to reach $4 trillion by 2030.

### Strategic Push into Stablecoin Reserve Management

In response to increasing demand for secure and liquid reserve options, BlackRock has revamped one of its key money market funds, now renamed the **BlackRock Select Treasury Based Liquidity Fund (BSTBL)**. The fund’s primary objective is to provide a safe, liquid vehicle for stablecoin issuers to manage their reserves. It invests exclusively in short-term US Treasury securities and overnight repurchase agreements, ensuring both safety and high liquidity.

Jon Steel, the global head of BlackRock’s cash management business, emphasized the company’s commitment:
*“We want to be and we believe we are a preeminent reserve manager.”*

This statement highlights BlackRock’s goal to capture a larger share of the stablecoin market as demand for secure reserve solutions grows alongside stablecoin adoption.

### Compliance with the GENIUS Act

The redesigned BSTBL fund is tailored to comply with the new regulatory framework introduced under the GENIUS Act, signed into law earlier this year. The GENIUS Act sets forth guidelines requiring stablecoin issuers to maintain their reserves in safe, highly liquid forms.

By focusing its investments solely on short-term US Treasury securities and repurchase agreements, BlackRock’s fund meets these stringent requirements, providing stablecoin issuers with a compliant and reliable reserve management solution. This regulatory alignment enhances BlackRock’s appeal to issuers looking to meet both immediate and long-term reserve management needs.

### Longer Trading Hours and Institutional Focus

To better serve institutional investors—including stablecoin issuers—the BSTBL fund has extended its trading hours until 5:00 pm Eastern Time. This adjustment provides greater flexibility for investors operating across multiple time zones. Moreover, the fund’s valuation times have been pushed back to support global trading schedules, enabling more efficient and transparent fund management.

BlackRock’s focus on institutional investors is clear, as the stablecoin market is primarily driven by large financial entities. Offering a yield-bearing reserve option with extended trading hours positions the BSTBL fund as an attractive tool for issuers aiming to comply with the GENIUS Act and optimize their reserve strategies.

### Expanding BlackRock’s Digital Asset Strategy

This move into stablecoin reserve management complements BlackRock’s broader digital asset strategy. The firm is already active in the cryptocurrency space with products such as its Bitcoin ETF, Ether product, and a tokenized liquidity fund launched earlier this year.

The revamped BSTBL fund reinforces BlackRock’s commitment to the digital assets sector and its ambition to be a leading reserve manager for US dollar-pegged stablecoins. BlackRock has already established partnerships with issuers like Circle, the company behind USDC, further solidifying its reputation as a trusted reserve manager.

### Outlook

With stablecoin adoption on the rise and the market expected to expand exponentially, BlackRock’s strategic initiative to redesign its money market fund and align with new regulatory standards positions it to benefit from growing demand for secure, compliant reserve management solutions.

By proactively catering to the needs of stablecoin issuers, BlackRock is set to become an integral player in this dynamic and fast-evolving financial sector.
https://coincentral.com/blackrock-unveils-treasury-liquidity-fund-to-manage-stablecoin-reserves/

Cotton Bounce Higher on the Midweek Session

Cotton prices are down 30 to 40 points so far on Thursday morning. This follows a turnaround on Wednesday, where futures contracts closed with gains of 20 to 25 points across the front months.

The US dollar index fell by $0.400 on Tuesday, reaching 98.410, while crude oil prices edged up by $0.05 per barrel. Meanwhile, Tuesday’s online auction from The Seam reported just 45 bales sold at an average price of 47.24 cents per pound.

The Cotlook A Index dropped another 35 points on October 14, settling at 74.95 cents. ICE certified cotton stocks remained unchanged on the same date, with the certified stocks level steady at 16,593 bales.

Here is a snapshot of recent cotton futures performance:

– December 2025 Cotton closed at 63.76 cents, up 25 points, but is currently down 40 points.
– March 2026 Cotton closed at 65.33 cents, up 24 points, currently down 34 points.
– May 2026 Cotton closed at 66.55 cents, up 24 points, currently down 36 points.

Stay informed on commodity trends— from crude oil to coffee— by signing up for Barchart’s best-in-class commodity analysis, available for free.

*Disclosure:* On the date of publication, Austin Schroeder did not hold positions (directly or indirectly) in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please see the [Barchart Disclosure Policy](#).

**More news from Barchart:**

– Will Cotton Ever Rally?
– As China Shuns U.S. Ag Products, Make This 1 Trade Now
– Corn, Soybean, Wheat, Cotton: Let’s Break Down What You Need to Be Watching This Week
– Can Cotton Break Out from Its Bearish Trend?

*The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.*
https://www.nasdaq.com/articles/cotton-bounce-higher-midweek-session-0

A former security guard at the US Embassy in Norway is convicted of spying for Russia and Iran

**Former U.S. Embassy Security Guard in Norway Convicted of Espionage for Russia and Iran**

A former security guard at the U.S. Embassy in Norway was convicted of espionage on Wednesday after a court in Oslo found that he had spied for both Russia and Iran. The 28-year-old Norwegian man, whose name has not been made public, was sentenced to three years and seven months behind bars.

The defendant acknowledged the facts presented in the indictment but denied any criminal guilt. Prosecutors revealed that he handed over sensitive information, including details about the embassy’s diplomats, floor plans, and security routines, Norwegian state broadcaster NRK reported.

According to NRK, the man’s actions were reportedly influenced by American ties to Israel and the ongoing war in Gaza, which motivated him to reach out to Russia and Iran.

### Defense Response

In a statement issued Thursday, the man’s defense attorneys questioned the espionage verdict under Norwegian law. Attorney Inger Zadig of Elden Law Firm stated:
“He lied about having security clearance to agents from other countries and exaggerated his own role. He had roughly the same level of access as a janitor at the embassy. The information he shared was worthless and neither separately nor collectively capable of harming individuals or the security interests of any state.”

The defendant was found guilty of five espionage-related charges but was acquitted of gross corruption.

### Next Steps

The defense team is currently considering whether to appeal the verdict. Prosecutor Carl Fredrik Fari has also indicated that his team may appeal the sentence, as the state had originally requested a prison term of more than six years.

### Background

At the time of his arrest last November, the man was pursuing a bachelor’s degree in security and preparedness at Norway’s Arctic University (UiT). This case marks the second espionage-related incident linked to UiT in recent years.

In a notable prior case, a guest researcher at UiT, arrested on espionage allegations in 2022, was revealed to be a Russian national named Mikhail Valeryevich Mikushin, who had been posing as a Brazilian named José Assis Giammaria. He was later involved in a major prisoner exchange between the West and Russia last year.

### Norway-Russia Relations

Norway shares a 198-kilometer (123-mile) border with Russia in the Arctic. Since Russia launched its full-scale invasion of Ukraine in February 2022, Norway has implemented strict entry restrictions for Russian nationals, reflecting heightened security concerns in the region.
https://www.clickorlando.com/news/world/2025/10/16/a-former-security-guard-at-the-us-embassy-in-norway-is-convicted-of-spying-for-russia-and-iran/

‘This is not Gaza’: Palestinians return to war-torn neighborhoods amid ceasefire

Palestinians Return to Gaza After Ceasefire, Find Devastation and Displacement

KHAN YOUNIS, Gaza Strip – While some Palestinians returning to the Gaza Strip this week after two years of war showed joy on their faces, many found their old neighborhoods unrecognizable due to relentless fighting that reduced numerous buildings to rubble.

Following a historic ceasefire agreement enacted on Monday, tens of thousands of displaced residents, along with nearly 2,000 Palestinians released from Israeli prisons, made their way back to Gaza—only to find themselves homeless.

“Of course, I was happy about being released, but not happy about being displaced with no safety in place, no life necessities,” said 23-year-old Abdullah Wa’el Mohammed Farhan, one of the former Palestinian prisoners freed on Monday as part of a ceasefire deal brokered by President Donald Trump.

Standing outside a tent in Khan Younis, where he and his family are currently living, Farhan told ABC News that he was imprisoned for 20 months as the war with Israel raged on. He described how, while detained, he and other Palestinian prisoners were “completely isolated from the world.”

“When I was told about my release, I didn’t believe it because more than once [Israeli authorities] told us about our release and moved us from one prison to another while being tortured and beaten,” Farhan said.

ABC News has contacted the Israel Defense Forces and the Israel Prison Service regarding allegations from Farhan and other released prisoners about being tortured and subjected to starvation while incarcerated, but has yet to receive a response.

Abdullah’s sister, 21-year-old Samaher Farhan, spoke to ABC News about their reunion. While thankful to be together again, she expressed sadness that her brother had to return to a community ravaged by war.

“When I saw Abdullah yesterday, it was mixed feelings of happiness and sadness because of how he looked before he went to prison and how he looked now,” Samaher said. She hopes to resume living in their home, which remains intact but is located in an area currently uninhabitable.

“For the time being, we are living in a tent,” she added. “We felt bad that this is not a worthy welcoming of a prisoner. How can he come out to a worn tent? So, it was a sad feeling. I even tried not to meet him or sit with him for a long time because the situation is dire in this worn tent.”

She recalled that when Abdullah was taken prisoner, their neighborhood was still in good shape. “It was barely 1% of the destruction we have now,” she said.

Devastation Across Gaza

The United Nations and other organizations have reported that there is no safe place left in the Gaza Strip, which measures approximately 25 miles long by 7.5 miles wide. The Israel Defense Forces (IDF) have designated most of the war-torn territory as a “no-go zone,” issuing evacuation orders for civilians, according to the U.N. Office for the Coordination of Humanitarian Affairs.

A damage assessment by the U.N. Satellite Centre found that 83% of all structures in Gaza City—the capital of the Palestinian territory—have been damaged. The assessment identified at least 17,734 structures destroyed, representing about 43% of the total number of damaged structures.

In a report issued on Tuesday, the U.N. estimated that it will cost approximately $70 billion to reconstruct Gaza.

Human Toll of the Conflict

According to the Palestinian Ministry of Health’s latest report on Wednesday, nearly 68,000 Palestinians were killed in the Gaza Strip during the war. The conflict began on October 7, 2023, when Hamas terrorists launched a surprise attack on Israel, killing more than 1,200 people and taking about 250 others hostage.

The final 20 living Israeli hostages were released by Hamas on Monday as part of the ceasefire deal.

Voices from Those Released

Shadi Abu Sido, a Palestinian photojournalist released from Israeli prison on Monday, expressed shock at the widespread devastation in Gaza since his detention in March 2024.

“I entered Gaza and found it to be like a scene of Judgment Day,” Sido said in a video testimony. “This is not Gaza. Where is the world?”

He shared that while in prison, an Israeli officer told him his wife and two children had been killed during the war. However, upon returning to his home in Khan Younis, he discovered they were alive.

“I heard her voice, I heard my children—I was astonished. It cannot be explained, they were alive,” Sido told Reuters.

For another Palestinian prisoner, the joy of being freed was quickly replaced by heartbreak upon learning that his three children—aged 2, 5, and 8—had died in the conflict.

In a video testimony, the man, whose name has not been released, is seen falling to his knees and sobbing. Holding a bracelet in his hand, he explained that he had made it in prison and planned to give it to his youngest daughter.

“I made this for my daughter, whose birthday was supposed to be in five days,” he said in the video.

ABC News’ Bill Hutchinson contributed to this report.

https://abcnews.go.com/International/gaza-palestinians-return-war-torn-neighborhoods-amid-fragile/story?id=126551546

Mamdani Is Making Overtures to Jewish Leaders. Some Are Listening.

Zohran Mamdani is intensifying his efforts in Jewish outreach by holding private meetings with rabbis and other community leaders across New York City.

These meetings aim to engage with individuals who oppose his stance on Israel, fostering dialogue and understanding despite differing views.

Through these conversations, Mamdani seeks to build bridges and address concerns within the Jewish community regarding his position on the issue.
https://www.nytimes.com/2025/10/16/nyregion/mandani-jews-israel-palestine.html

Deepika Padukone becomes Meta AI’s first Indian voice, joins global roster including Awkwafina, Judi Dench and more!

Deepika Padukone has created history by becoming the first Indian to lend her voice to Meta AI, the virtual assistant integrated into Meta’s ecosystem, including the Ray-Ban Meta smart glasses. She joins a prestigious global lineup of voices for the AI assistant, featuring Hollywood celebrities such as Awkwafina and Judi Dench.

This collaboration marks a powerful intersection of technology and culture, positioning Deepika as a bridge between global innovation and Indian identity. Meta announced that users in India will now be able to interact with Meta AI through Deepika’s voice, available in Indian English. Alongside this, the company introduced full Hindi language support and UPI Lite payments, making the experience more localized and personal.

The biggest talking point remains Deepika’s voice — warm, poised, and unmistakably familiar. Known for her global influence and grounded presence, Deepika brings authenticity and emotion to a space often dominated by synthetic tones. Her voice adds a human touch to artificial intelligence, turning digital interactions into something relatable and distinctly Indian.

For millions of users, hearing Deepika guide them through tasks or respond to questions adds a sense of comfort and connection rarely found in technology. This partnership also represents India’s growing significance in the global tech landscape. By featuring Deepika, Meta acknowledges India’s cultural power and linguistic diversity.

This move goes beyond mere convenience; it celebrates representation and the inclusion of an Indian identity within a global product. For Deepika, this step expands her influence beyond cinema into the realm of digital innovation. It’s another milestone in a career defined by versatility, intelligence, and impact.

With this collaboration, she becomes not just the voice of Meta AI but the voice of a new era where technology feels a little more human, and a lot more Indian.

**Also Read:**
Deepika Padukone’s 8-hour work rule sparks debate: Hansal Mehta, Hema Malini, and Sharmila Tagore weigh in

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https://www.bollywoodhungama.com/news/bollywood/deepika-padukone-becomes-meta-ais-first-indian-voice-joins-global-roster-including-awkwafina-judi-dench/