Good Morning

Donald Trump has nominated the well-known investor Scott Bessent as US Secretary of the Treasury. Bessent, founder of Key Square Group and former advisor to George Soros, is a proponent of tax reform and deregulation. His selection has been well received by Wall Street as he is seen as experienced in the market and likely to soften Trump's tough tariff plans. Bessent will play a central role in US economic policy, including managing the national debt and international financial relations. Challenges such as rising deficits and possible changes to support for Ukraine are on the horizon. He could also focus more on fossil fuels, in contrast to the climate policy priorities of his predecessor Janet Yellen.

According to the Kremlin, Russia has sent a clear signal to the West with a newly developed hypersonic missile attack on Ukraine to warn against “reckless” actions in support of Ukraine. The attack followed Ukrainian missile attacks on Russia with missiles supplied by the USA and the UK. The missile, called Oreshnik (“hazel tree”), hit a military target in Dnipro, where the missile manufacturer Pivdenmash is also based. President Putin explained that the deployment was a response to direct interference by the West, as NATO countries had helped to control these missiles. Ukraine sees the attack as an escalation and is calling for international condemnation. The Kremlin emphasized that it remains willing to engage in dialogue as long as the USA refrains from further provocations.

The Adani Group is under pressure following a US indictment against founder Gautam Adani for bribery. Banks are considering suspending new loans and the company's bonds and shares have fallen sharply. The scandal concerns bribery for projects in the renewable energy sector. Adani rejects the accusations, but international investments in India's climate protection projects could suffer. The Indian financial regulator is also investigating possible breaches of the rules.

At the COP29 climate conference in Baku, wealthy countries proposed increasing annual climate financing to 300 billion dollars by 2035. This is to replace the previous target of 100 billion dollars per year, which expires in 2025. Developing countries are calling for higher amounts and easier access to funds to tackle climate damage. It is still disputed who should contribute how much and to what extent grants should be used instead of loans. Negotiations are continuing, partly due to uncertainties about US participation under Donald Trump.

Volkswagen brand boss Thomas Schäfer confirms plans to close plants in Germany and does not rule out layoffs. Current measures such as partial retirement are not sufficient to adjust capacities. During the wage negotiations, 7,000 employees protested in Wolfsburg. IG Metall is demanding location guarantees and is threatening warning strikes from December if no progress is made.

The Israeli government is ending the use of controversial administrative detention for Jewish settlers in the West Bank. This instrument, which was previously used for terror suspects, allows detention without trial for at least six months, based on secret information. Criticism has come from ex-generals and the Shin Bet secret service, who warn of security risks. Following the Hamas attack in October, violence by settlers against Palestinians increased sharply. Around 3,400 Palestinians are currently in administrative detention.

Putin announced the serial production of the new “Oreshnik” medium-range missile, which was recently used in an attack on Dnipro. Experts warn of the danger that the missile could also be equipped with nuclear warheads. Ukraine responded by developing new air defense systems and called for international consequences. Russia sees the deployment as a “message to the West” after Western missiles were used against Russian territory. German Chancellor Scholz described the incident as a dangerous escalation, while China called for restraint. NATO Secretary General Rutte convened a special meeting.

,'The USA is prepared to use nuclear weapons if necessary, but would only do so under conditions that are “acceptable” to the country and its interests, said Rear Admiral Thomas Buchanan, spokesman for the US Strategic Command (U.S. Stratcom) on Wednesday in Washington. He was speaking at the Center for Strategic and International Studies (CSIS) at the presentation of the report “Project Atom 2024.

Russia threatens further missile attacks - Orban warns to take threat “at face value” “. Hungarian Prime Minister Viktor Orban has called for Russia's threats to carry out more attacks with new weapons to be taken seriously.

The US government has imposed sanctions against the Russian Gazprombank.  Gazprombank was the last major Russian financial institution to be exempt from sanctions. Washington had left the bank untouched until today because it is of central importance for the settlement of gas trade with Europe.

The United States embassy in the United Kingdom was closed due to the discovery of a suspicious package that was destroyed by a controlled explosion.  In addition, most of the South Terminal at London Gatwick Airport was evacuated due to a potential security threat to passengers.

The number of building permits for housing in Germany fell by almost a quarter in September this year. Compared to the same month last year, it decreased by 23.1% (by 4,600 apartments) to 15,300 apartments, - reports Tagesschau.

Lieutenant General Rob Magowan, Deputy Chief of the Defense Staff, has responded to a question from MPs in the House of Commons about how many brigades the country is prepared to deploy to NATO's eastern flank: 'If the British Army were asked to fight tonight, it would fight tonight. I do not think that anyone in this House is under any illusion that if the Russians were to invade eastern Europe today, we would meet them in that battle. Last week, former Prime Minister Boris Johnson said the UK should send its troops to Ukraine if Trump withdraws his support for Kiev.

US military base in Syria hit by missiles: A US military base in Deir ez-Zor province in northern Syria has come under missile fire.  “Three missiles were fired at the US base on the Conico gas field in Deir ez-Zor. Two exploded near the base. One hit its south-eastern part, from which a strong column of smoke is now rising.”