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Daily Briefing

Kevin McCarthy’s wild ride as US House speaker ends in a historic fall, Italy authorities probe a bus crash that killed 21 people, and the winners of the Nobel Prize in Chemistry are announced.

Plus, the journeys of two families, one enslaved by the other.

By Edson Caldas

Today’s Top News

A 216-to-210 vote marked the first time in history that the US House removed its leader. REUTERS/Jonathan Ernst

US NEWS

The US House of Representatives is leaderless after hardline Republicans won a vote to oust Speaker Kevin McCarthy, a move that triggered what will be a lengthy and likely messy battle to find a replacement. We take a look at McCarthy’s wild ride as the House speaker and what comes next.
Sam Bankman-Fried’s father and brother, as well as Donald Trump’s former spokesman Anthony Scaramucci, are among possible witnesses at the cryptocurrency exchange founder’s fraud trial, according to a list read by a prosecutor in court.
President Joe Biden plans to announce that his administration has approved an additional $9 billion in student debt relief for 125,000 borrowers. Biden has said he will pursue new measures to provide student loan relief to Americans after the Supreme Court blocked his plan to cancel hundreds of billions of dollars in debt.

AROUND THE WORLD

British Prime Minister Rishi Sunak will set out his mission to change the country at his Conservative party’s conference, and end uncertainty over a high-speed rail project. Reuters’ Natalie Thomas is on the ground in Manchester and reports on how the party is struggling to put together a unified front for the next election. Listen here.
Italian authorities are investigating what caused a horrific bus crash near Venice a day earlier, in which 21 people died including several children, and 15 were injured. The bus veered off the road and fell close to railway lines in the district of Mestre, which is connected to Venice by a bridge.
Thailand will restore confidence in its tourism sector, officials said a day after a shooting spree at a luxury shopping mall in which two foreigners were killed clouded hopes for a recovery in overseas visitors. Police have arrested a teenager suspected to have entered the Siam Paragon mall and unleashed a volley of gunfire.
Scientists Moungi Bawendi, Louis Brus and Alexei Ekimov won the 2023 Nobel Prize in Chemistry for “the discovery and synthesis of quantum dots”. Nanoparticles and quantum dots are used in LED-lights and TV-screens and can also be used to guide surgeons while removing cancer tissue.

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Business & Markets

The world’s biggest bond markets are in the throes of another rout as a new era of higher for longer interest rates takes hold. Because government borrowing costs influence everything from mortgage rates for homeowners to loan rates for corporates, there’s plenty of reason for angst. Here’s why the bond rout matters.
The euro zone economy probably shrank last quarter, according to a survey which showed demand fell in September at the fastest pace in almost three years as indebted consumers reined in spending in the face of rising borrowing costs and higher prices.
Japanese authorities refrained from disclosing whether they had stepped into the market to prop up the yen and stressed their resolve to act against excess volatility, keeping markets on alert for the chance of yen-buying intervention. We have an explainer on what intervention to boost the yen would look like.
In more news from Japan, surging property prices in Tokyo are squeezing out young professionals. After weathering decades of deflation and stagnant growth, the country is seeing an investment boom that has made apartments in central Tokyo unaffordable.
Meta is planning to lay off employees in the unit of its metaverse-oriented Reality Labs division focused on creating custom silicon, two sources familiar with the matter said. If the cuts are deep, they could hamper Mark Zuckerberg’s project to build augmented and virtual reality products.

American Dreams

Lacretia Johnson Flash holds a picture of her forebears. REUTERS/Maja Smiejkowska

Lacretia Johnson Flash knew just a sliver of her family history: that her ancestors had risen from slavery in middle Tennessee to become some of the first Black landowners here in Perry County. What she wouldn’t learn until a reporter contacted her is that a direct descendant of the people who enslaved her ancestors is today a US congressman: Representative Brett Guthrie of Kentucky.

As part of a series on slavery and America’s political elite, Reuters traced the future paths of the two lineages: the family of the enslaved and the family that enslaved them.

Read our special report here.

And Finally…

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Former football player David Beckham arrives with his family to the premiere of the Netflix documentary “Beckham” in London. REUTERS/Maja Smiejkowska

David Beckham was joined by his wife, fashion designer Victoria Beckham, and their four children at the premiere of his new Netflix documentary. “Beckham” is a four-part mini-series tracking the British soccer star’s rise from humble beginnings to one of the most recognizable players of his time both on and off the pitch.

Read more here: David Beckham takes family to premiere of candid new Netflix documentary about his life

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Daily Briefing

Today’s Top News

Business & Markets

American Dreams

And Finally…

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