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From the Editor
The COP30 and G20 meetings are my stories of the week — not for what they achieved, but for the opportunities they squandered. You’d think some leaders live on a different planet, ignoring the need for fresh air, clean water, and a healthy environment. Yet the Brazilian COP30 and South African G20 were non-events. Both had lofty intentions but failed to produce anything transformative.
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Please share this issue using the link at the end. Let’s dive into the stories shaping the week.
David Eifion Williams
Editor & Founder
TOP STORY
National Interests Cripple Global Summits
COP30 and G20 exposed how domestic priorities often derail ambitious multilateral goals.
Countries’ priorities increasingly put above world interests.
National priorities continue to dominate global negotiations, as evidenced at the COP30 and G20 summits, often at the expense of collective goals. Even when multilateral frameworks exist, countries frequently block ambitious measures that conflict with domestic interests.
Energy and economic concerns outweighed commitments to strong climate action and equitable financial reform at both gatherings. At COP30 in Belém, leaders agreed to triple adaptation funding but dropped any explicit fossil-fuel phase‑out roadmap.
Several major fossil-fuel producing and emerging economies resisted stronger climate language, prioritizing domestic agendas over global urgency. Meanwhile, at the G20 summit in Johannesburg, a 122-point declaration focused on debt relief, clean energy, and climate resilience—but omitted binding commitments on fossil fuels.
South Africa pushed for global financial reforms to help developing economies manage debt under climate stress, showing how national development concerns shaped outcomes. These dual outcomes suggest a broader trend: global cooperation is increasingly subordinated to national agendas, undermining the credibility of multilateral institutions.
The tension at COP30 and G20 highlights the growing weakness of international frame-works. When countries prioritize national interest, multilateralism delivers symbol-ism more than substance.
BUSINESS
Telecom Giants Enter Deep Reset
Major operators are cutting staff and simplifying structures as sector pressures intensify.
Telecom companies reducing workforces and investing in smaller automated models.
Telecom companies in the US and Europe are entering a decisive cost-reduction cycle driven by weak margins and heavy debt loads. Firms are shifting from labor-intensive operations to automated, cloud-based systems to control expenses.
Analysts say operators face a structural mismatch: high 5G investment needs and almost no pricing power. Declining customer growth and rising financing costs leave little room to maintain legacy staffing levels.
This year’s cuts span continents. Telefónica is evaluating thousands of job reductions in Spain, while AT&T has begun trimming roles and consolidating operational layers. Verizon joined the trend with its largest-ever layoff of more than 13,000 employees to simplify its business.
The sector is rewriting its cost structure under pressure. Telecom is moving toward a smaller, automated labor model that won’t reverse.
TRADE
India and China Shift Stance on Russian Oil
Major Asian buyers are moving toward US sanctions compliance, reshaping global oil flows.
Sanctions measures raise the cost of doing business with Russia.
India and China, historically major buyers of Russian crude, are adjusting purchases to comply with US sanctions on Lukoil and Rosneft. Banks and refiners are increasingly risk-averse, aware that trading in US dollars with sanctioned Russian companies could be treated as a violation of US sanctions, exposing them to secondary penalties.
The move disrupts Russian oil flows, forcing refiners to restructure supply chains and segregate “compliant” barrels from higher-risk ones. Even without formal alignment with US policy, commercial self-preservation is driving adherence to sanctions.
Each new sanctions measure raises the cost of doing business with Russia, including shipping, insurance, financing, and letters of credit. India and China are not abandoning Russian oil but are selectively distancing themselves from the riskiest counterparties.
Commercial actors in non-Western countries increasingly treat US sanctions as unavoidable operating constraints. This could subtly shift Russia’s negotiating leverage in the Ukraine war.
💰 CORRUPTION, RACKETS & DUBIOUS FINANCE
Report Exposes Potential Corruption in Crypto Deregulation
A newly released House Judiciary report reveals that recent US regulatory rollbacks in cryptocurrency oversight may have benefited politically connected actors, raising red flags about corruption and favoritism. The report documents how anti‑money‑laundering safeguards were stripped at the same time certain crypto ventures, linked to influential figures, were rapidly expanding. Investigators say the timing and design of the deregulation suggest policy decisions may have been influenced by private financial interests, not public safety. This exposes a widening gap between regulatory intent and the real-world enforcement that protects US financial integrity.
French Police Raid in Major Telecom Corruption Investigation
French authorities, in coordination with Eurojust, have conducted a sweeping raid of 15 homes and 14 companies linked to telecom giant Altice, seizing cash, luxury vehicles, and other assets. The investigation focuses on alleged procurement overbilling and collusion with suppliers, suggesting a systematic effort to siphon corporate funds. Officials warn that the probe could have wide-ranging consequences for the company’s restructuring plans and financial stability. This operation marks one of the most high-profile corporate corruption investigations in France in recent years.
ECONOMICS
US Inflation Signals Mixed
Consumer demand falters and real wages lag, while Europe, the UK, and Canada watch closely.
Western economies are clearly not in the best of health.
US producer-price data show inflation is firming again wholesale, driven primarily by energy costs. With the producer price index rising 0.3% in September and energy goods up 3.5%, the disinflation trend appears to be losing momentum.
But consumer demand is showing the opposite signal. Retail sales grew just 0.2%—half the expected rate—while core sales fell, indicating early fatigue heading into the holiday quarter. Real incomes are still not keeping pace with price pressures. One analysis shows median real income for prime-age workers rising only 1.6% this year against roughly 3% headline inflation.
But relative to peers, this slowdown is mild. In Canada, retail sales contracted 0.6% in the latest month while wages grew 4–4.5%, ahead of 3.1% inflation, but high housing costs continue to erode disposable income. In the UK, retail sales fell 0.3%, while UK households are only now seeing real wage growth after two years of deep erosion. Eurozone retail sales slipped 0.1% in October, with Germany acting as the main drag as consumption remains below pre-pandemic levels.
The US inflation picture is no longer linear: slowing demand, sticky upstream costs, and faltering real wages create a more uneven trend than markets expected. The lack of October CPI data adds an unusual blind spot at a critical moment.
SOCIETY
EU Court Orders Recognition of Gay Marriages
Member states must acknowledge same-sex marriages legally conducted in other EU countries.
Poland told by ECJ to recognize gay marriages.
The European Court of Justice ruled that EU countries must recognize same-sex marriages lawfully performed elsewhere in the bloc. This applies even if the member state does not allow same-sex marriage domestically.
The decision arose from a case involving Polish citizens married in Germany who were denied recognition at home. The court said refusing recognition violates EU citizens’ freedom of movement and family life rights.
The ruling does not force countries to legalize same-sex marriage domestically.
But it ensures foreign same-sex marriages cannot be ignored or obstructed.
A win for LGBTQ+ rights across Europe, but member states now face a test of compliance. Recognition without domestic reform may still create legal and social friction.
🕵️ INVESTIGATIVE JOURNALISM
Agency Bragged About Lying to Congress on JFK Assassination
Axios reported that a former CIA–State Department historian, Thomas L. Pearcy, revealed to the news organization he uncovered a secret CIA Inspector General report in 2009 showing that agency officials admitted to misleading congressional investigators about Lee Harvey Oswald’s activities in Mexico City prior to JFK’s assassination. The whistleblower described the report as “a blueprint of a cover-up” — a deliberate, systemic effort inside the CIA to sanitize or misrepresent evidence to Congress. This new revelation undermines decades of public record about the Oswald case and raises serious questions about what classified files remain concealed even today.
Europol’s Secret AI Ties with US Tech Firms
A report by Giacomo Zandonini for non-profit research and monitoring organization Statewatch revealed Europol has quietly forged deep relationships with private tech companies, giving US actors access to AI surveillance tools. These include facial recognition, behavioral analytics, and deepfake detection. Statewatch said the partnerships raise serious privacy, accountability, and conflict-of-interest concerns, especially as EU citizens remain largely unaware of them.
THE WEEK TO NOV 25, 2025
Trending in the US
1️⃣ Eagles vs Cowboys — 2M+ searches
Did Cowboys' 24–21 win over Eagles set the table for a playoff run?
2️⃣ Panthers vs 49ers — 2M+ searches
San Francisco wins 20–9.
3️⃣ Bills vs Texans — 2M+ searches
Texans beat Bills 23–19.
4️⃣ Colts vs Chiefs — 1M+ searches
Chiefs teeter on edge, but come up with a massive OT win over Colts.
5️⃣ Browns vs Raiders — 1M+ searches
Browns beat Raiders 24–10.
WHAT THE MEDIA BURIED
$300 Million Pledged for Climate-Health Research
Philanthropies at COP30 in Brazil committed $300 million to tackle the human health impacts of climate change. Funding will focus on heat, air pollution, and infectious diseases in vulnerable communities. It’s a significant step toward protecting populations before disasters strike. Private donors are investing in research to understand and prevent climate-linked health risks. The move signals that tackling climate change is no longer just an environmental or political issue — human health is now center stage.
Mars Mission Breakthrough: Twin Spacecraft Launched
NASA and Blue Origin successfully sent two identical spacecraft to Mars this week in a first for UC Berkeley’s planetary mission program. The ESCAPADE probes will study how the solar wind interacts with Mars’s magnetic field, shedding light on why the planet lost its atmosphere. The launch also marked a milestone for reusable rocket technology.
The New Glenn rocket booster landed back on a barge, demonstrating another step forward for commercial spaceflight. The spacecraft have already sent back their first infrared and visible-light selfies, confirming they are healthy and on track.
