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Daily Briefing

Israel bombards Gaza as the war spreads to other fronts, Argentina heads for a polarized presidential run-off vote next month, and the latest on tensions in the South China Sea.

Plus, the problems facing Giorgia Meloni after her first year as the Italian PM.

By Edson Caldas

Today's Top News

Palestinians inspect the site of Israeli strikes on a house in Khan Younis in the southern Gaza Strip. REUTERS/Ibraheem Abu Mustafa

ISRAEL AND HAMAS AT WAR

Israel bombarded Gaza with more air strikes ahead of an anticipated ground operation into the besieged Palestinian enclave. In signs that the conflict was spreading, Israeli aircraft also struck southern Lebanon overnight and Israeli troops clashed with Palestinians in occupied West Bank, residents said.
Israel's military said its ground forces had mounted limited raids into Gaza overnight. Hamas said its fighters had engaged with what it described as an armored force infiltrating a southern area of Gaza and had destroyed some Israeli military equipment. There was no Israeli comment on such losses.
Iran, a longtime backer of Hamas, finds itself in a quandary as it tries to manage a spiraling crisis, according to nine Iranian officials with direct knowledge of the thinking within the clerical establishment. Listen to Arshad Mohammad explain the fine line the Islamic Republic is treading.
In pictures: Protesters around the world gather in support of Palestinians in Gaza, while others demand the release of Israelis taken hostage by Hamas gunmen, as concerns about the risk of the Israel-Hamas war mushrooming into a wider Middle East conflict rise.

IN OTHER NEWS

Argentina's ruling Peronist coalition smashed expectations to lead the country's general election, setting the stage for a polarized run-off vote next month between Economy Minister Sergio Massa and far-right libertarian radical Javier Milei. Hear bureau chief Adam Jourdan break down the results.
In more election news from South America, industrial engineer Maria Corina Machado declared victory overnight in the Venezuelan opposition's presidential primary, after she tallied a huge portion of votes with the count just over a quarter finished.
China and the Philippines traded accusations over a collision in disputed waters of the South China Sea as Chinese vessels blocked Philippine boats supplying forces there in the latest of a series of confrontations. The US has backed the Philippines in the face of what it called China's repeated "harassment."
Ukraine shot down 14 attack drones and a cruise missile fired by Russia at its south and east overnight, but debris from a downed drone damaged a warehouse at the Black Sea port of Odesa, officials said. Russia has intensified attacks on port and grain infrastructure since quitting a grain deal in July.

Business & Markets

A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan. REUTERS/Ann Wang

Foxconn, a major supplier of Apple's iPhones, is facing a tax probe in China, two sources close to Foxconn confirmed, saying they believed it was disclosed by a state-backed paper for political reasons. The sources highlighted the audits come less than three months ahead of Taiwan's presidential election.
Chevron said it will buy smaller rival Hess Corp in a $53-billion all-stock deal, as the oil major looks to increase its footprint in oil-rich Guyana. The deal puts two of the top oil giants, Chevron and Exxon Mobil, head-to-head in two of the world's fastest growing oil basins - shale and Guyana.
A race is on to certify battery health and performance in used electric cars, with a clutch of startups scrambling to help buyers figure out how much a secondhand EV is really worth. Automakers provide in-vehicle EV range information that critics say is often excessively rosy, making independent tests vital.
The growth in demand for anti-obesity drugs presents opportunities for food manufacturers, investors say. This month, when Walmart said it saw a slight pullback in food consumption when people took appetite-suppressing drugs, it sparked a sell off in shares of companies including Nestle.
Three publicly traded Chinese drugmakers which count banks such as UBS and HSBC as investors have used parts of endangered animals as ingredients in their products, an environmental group said. The London-based Environmental Investigation Agency urged investors in the firms to divest their stakes.

Meloni's first anniversary as Italy PM marred by economy, family split

Italy's Prime Minister Giorgia Meloni in Granada, Spain. REUTERS/Juan Medina

Weak economic growth and high interest on the country's huge debt are the main problems facing Italian Prime Minister Giorgia Meloni after her first year in power. Her coalition, the first led by a woman in Italy's history, was sworn in after a sweeping election victory and will soon cruise past the 14-month average postwar term life for Italian governments.

Read our report here.

And Finally...

A flock of sheep during the annual parade on the streets of Madrid. REUTERS/Susana Vera

Bleating sheep replaced beeping cars on Madrid's streets yesterday, as shepherds guided their flocks through the city center following ancient herding routes to southerly pastures for the winter. The annual event was revived in 1994 as part of Madrid's annual Fiesta de la Trashumancia, after the Spanish parliament recognized the traditional routes used to herd livestock.

Read more here: Sheep flock to Madrid's streets on ancient herding route

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