October 27, 2022

UKRAINE | Today is day 245 of the Russian invasion of Ukraine. Here are your updates:

• Ukrainian Defense Minister Oleksii Reznikov said yesterday that the counteroffensive against Russian forces in the southern Kherson region is being complicated by wet weather and terrain. [more]
• Russia called a meeting of the U.N. Security Council yesterday to argue that any U.N. investigation of the alleged use of Iranian drones by Russian forces in Ukraine not approved by the Council would be a violation of the U.N. charter. [more]
• Speaking to the United Nations First Committee yesterday, Konstantin Vorontsov, deputy director of the Russian foreign ministry's department for non-proliferation and arms control, said that commercial satellites from the U.S. and its allies could become legitimate targets for Russia if they were used in the war in Ukraine. [more]

MICHIGAN | Three men were found guilty by a Michigan jury yesterday on charges of providing material support for a terrorist act in connection with the conspiracy to abduct Michigan Governor Gretchen Whitmer ahead of the 2020 election. Sentencing for Joe Morrison, his father-in-law Pete Musico, and Paul Bellar is scheduled to take place December 15. [more]

COVID-19 FRAUD | The U.S. Department of Justice announced yesterday that 14 residents of Mississippi have been arrested on charges of conspiring to illegally obtain government funds through the Payroll Protection Program COVID-19 business funding program. [more]

CAMPAIGN FINANCE | A Washington state judge yesterday fined Facebook parent company Meta $24.7 million for more than 800 violations of the state’s decades-old campaign finance disclosure law that requires sellers of advertising to keep and make public the identities of those who buy political ads, the target of such ads, how the ads were paid for, and how many times the ads were viewed. [more]

U.S. BANKING | The Consumer Financial Protection Bureau issued new guidance yesterday on two bank fee practices that the agency says are likely unfair and unlawful under existing law. The agency says it is illegal for banks to charge overdraft fees when the bank website or ATM balance shows the customer had enough money in their account at the time of a purchase and that it is unlawful for banks to charge a fee to customers who deposit a check that then bounces. [more]

U.S. ECONOMY | Economists polled by data firm FactSet predict that Commerce Department estimates due out today will show that the U.S. gross domestic product grew at a 2% annual rate in the third quarter, reversing the GDP trend of contractions in the previous two quarters. [more]

CLIMATE | In its latest Greenhouse Gas Bulletin, the U.N.’s World Meteorological Organization says atmospheric levels of the three main greenhouse gases — carbon dioxide, methane, and nitrous oxide — all reached new record highs in 2021. [full report] [more]

IRAN | Reports say protests have escalated in cities across Iran today as protesters mark 40 days since Kurdish Iranian woman Mahsa Amini died in police custody. The escalation comes one day after police reportedly opened fire on protesters in Amini’s hometown of Saqqez and the U.S. announced new sanctions on Iranian officials overseeing organizations involved in violent crackdowns on protests. [more]

ANTARCTIC | The first in-person meeting in three years of the Commission for the Conservation of Antarctic Marine Living Resource is taking place this week in Australia to discuss policy changes needed to preserve the Antarctic ecosystem amidst the growing effects of climate change. [more]

EUROPEAN ECONOMY | The European Central Bank is expected to raise its benchmark interest rate by three-quarters of a percentage point for the second time in a row when Bank commissioners meet today in Frankfurt. [more]

FRANCE | French President Emmanuel Macron announced pension reform plans yesterday that would increase the retirement age in France from 62 to 65. Macron said the plan would begin to be implemented in 2023. [more]

EGYPT | The Egyptian pound fell to a record low against the U.S. dollar today after the country’s Monetary Policy Committee announced interest rate hikes and said it is moving to a new “flexible exchange rate regime.” [more]

ISRAEL AND LEBANON | Israeli and Lebanese leaders signed a maritime border agreement today aimed at facilitating offshore energy exploration initiatives by the two countries. [more]

AUTONOMOUS VEHICLES | Ford Motor Co. and Volkswagen announced yesterday that they are disbanding their co-owned autonomous vehicle company Argo AI. Ford CFO John Lawler said in a statement that it has “become very clear that profitable, fully autonomous vehicles at scale are still a long way off.” [more]

META | In reporting its third-quarter results yesterday, Facebook parent company Meta said some 3.71 billion people logged in to at least one of its apps — Facebook, Instagram, WhatsApp or Messenger — in the quarter. The company reported quarterly earnings of $4.4 billion on revenue of $27.71 billion — both measures down from the year-ago period. [more]

BANKING | Swiss bank Credit Suisse unveiled a restructuring plan today after announcing a third-quarter loss of $4.1 billion. The plan includes cost cutting measures, staff reductions, share buybacks, and the restructuring of several operating units. [more]

WORLD CUP | Ahead of next month’s start of the 2022 World Cup in Qatar, the Australian men’s team released a video yesterday criticizing the host country’s human rights record and treatment of workers and LGBTQ people. [more]

NBA | The Los Angeles Lakers remain winless at 0-4 this season following last night’s 110-99 loss to the Denver Nuggets. [more]

TODAY IN HISTORY | On this date in 1961, the first Saturn rocket was successfully launched by the United States. Years later the Saturn V was the launch vehicle used in the Apollo moon-landing flights. [more history]