Individual Economists

The Nerve! DNC Union Furious Over A Five-Day, In-Person Work-Week

Zero Hedge -

The Nerve! DNC Union Furious Over A Five-Day, In-Person Work-Week

Authored by Lincoln Brown via PJMedia.com,

I have been employed at one job or another since high school. My first “real” job was as a busboy in a department store restaurant. Times were tough, so I had to pick up a part-time job after school. I’d get home from school, put on a pair of black polyester pants and a white shirt, both of which reeked of cooked food, and go to work. I’d bus tables during the dinner shift, and during lunch and dinner on the weekends, and do my homework or, more often than not, watch a little MTV when my shift was over. 

Even after things got better for my family, I kept working because even as a teenage boy, I realized that money came in handy. As it turns out, girls appreciate a guy who can pay for dinner and a movie. And you can buy stuff like clothes. 

During my time in the workforce, there were two rules that I thought were pretty much givens.

Rule #1

If your employer schedules you for a shift or whatever it is you work, you show up on time and do what you’re told to do.

Rule #2

If you don’t like Rule #1, find another job. If you can.

That, apparently, is not SOP in the 21st century.

I submit to you the staffers at the Democratic National Committee.

They are currently affronted, insulted, traumatized, made to feel unsafe, victimized, and suffering from acute cases of out-of-joint noses and ruffled feathers because the DNC bosses told them that, henceforth, they would have to show up, in person, at their jobs for the entire five-day work week.

 As Col. Kurtz would say, “The horror. The horror.”

The Daily Caller reports that on Wednesday, DNC Chairman Ken Martin let the word go forth at a staff-wide meeting that as of February of next year, D.C. area employees would need to be back to work, full-time, at the DNC offices in Washington.

And the cries went up from both those who attended the meeting and those watching via Zoom. Citing the New York Times, the Caller said that “thumbs down emojis” began to flood the screen. The Employees International Union, which represents the DNC workers, said:

It was shocking to see the DNC chair disregard staff’s valid concerns on today’s team call.

DNC staff worked extremely hard to support historic wins for Democrats up and down the ballot last Tuesday, and this change feels especially callous considering the current economic conditions created by the Trump administration.

Oh, and the union also thinks that the decision is “callous.”  

One person groused that the party had won the 2020 presidential race with everyone working remotely, and that they should be allowed to work from home at least until 2028.

Of course, no one at the DNC wants to talk about 2024. Or maybe they do, which is why they are rounding everyone up and re-assigning cubicles or workspaces. Or whatever it is they use at the DNC. Maybe hammocks? Who knows?

Martin let the disgruntled team members know that if they felt they were not up to the task of working in person and showing up five days a week, they might want to spruce up their resumes and seek their fortunes elsewhere. And although I am no longer a Democrat, I would have to concur.

So the DNC staff members have until February, February, mind you, to find pants, shoes, a razor, and get a haircut and a shower before doing what millions of other Americans do every day. And they are still unhappy.

This, of course, is the end-product of letting people throw tantrums and make threats under the guise of feeling safe or living their truths. All I have to say to the DNC is you created this monster and now you get to live with it.

Tyler Durden Fri, 11/14/2025 - 15:40

The Nerve! DNC Union Furious Over A Five-Day, In-Person Work-Week

Zero Hedge -

The Nerve! DNC Union Furious Over A Five-Day, In-Person Work-Week

Authored by Lincoln Brown via PJMedia.com,

I have been employed at one job or another since high school. My first “real” job was as a busboy in a department store restaurant. Times were tough, so I had to pick up a part-time job after school. I’d get home from school, put on a pair of black polyester pants and a white shirt, both of which reeked of cooked food, and go to work. I’d bus tables during the dinner shift, and during lunch and dinner on the weekends, and do my homework or, more often than not, watch a little MTV when my shift was over. 

Even after things got better for my family, I kept working because even as a teenage boy, I realized that money came in handy. As it turns out, girls appreciate a guy who can pay for dinner and a movie. And you can buy stuff like clothes. 

During my time in the workforce, there were two rules that I thought were pretty much givens.

Rule #1

If your employer schedules you for a shift or whatever it is you work, you show up on time and do what you’re told to do.

Rule #2

If you don’t like Rule #1, find another job. If you can.

That, apparently, is not SOP in the 21st century.

I submit to you the staffers at the Democratic National Committee.

They are currently affronted, insulted, traumatized, made to feel unsafe, victimized, and suffering from acute cases of out-of-joint noses and ruffled feathers because the DNC bosses told them that, henceforth, they would have to show up, in person, at their jobs for the entire five-day work week.

 As Col. Kurtz would say, “The horror. The horror.”

The Daily Caller reports that on Wednesday, DNC Chairman Ken Martin let the word go forth at a staff-wide meeting that as of February of next year, D.C. area employees would need to be back to work, full-time, at the DNC offices in Washington.

And the cries went up from both those who attended the meeting and those watching via Zoom. Citing the New York Times, the Caller said that “thumbs down emojis” began to flood the screen. The Employees International Union, which represents the DNC workers, said:

It was shocking to see the DNC chair disregard staff’s valid concerns on today’s team call.

DNC staff worked extremely hard to support historic wins for Democrats up and down the ballot last Tuesday, and this change feels especially callous considering the current economic conditions created by the Trump administration.

Oh, and the union also thinks that the decision is “callous.”  

One person groused that the party had won the 2020 presidential race with everyone working remotely, and that they should be allowed to work from home at least until 2028.

Of course, no one at the DNC wants to talk about 2024. Or maybe they do, which is why they are rounding everyone up and re-assigning cubicles or workspaces. Or whatever it is they use at the DNC. Maybe hammocks? Who knows?

Martin let the disgruntled team members know that if they felt they were not up to the task of working in person and showing up five days a week, they might want to spruce up their resumes and seek their fortunes elsewhere. And although I am no longer a Democrat, I would have to concur.

So the DNC staff members have until February, February, mind you, to find pants, shoes, a razor, and get a haircut and a shower before doing what millions of other Americans do every day. And they are still unhappy.

This, of course, is the end-product of letting people throw tantrums and make threats under the guise of feeling safe or living their truths. All I have to say to the DNC is you created this monster and now you get to live with it.

Tyler Durden Fri, 11/14/2025 - 15:40

Trump Admin Rolls Back Biden-Era Restrictions On Alaska Oil And Gas Drilling

Zero Hedge -

Trump Admin Rolls Back Biden-Era Restrictions On Alaska Oil And Gas Drilling

Authored by Aldgra Fredly via The Epoch Times,

The Trump administration said Nov. 13 that it has finalized a rule rescinding Biden-era restrictions on oil and gas drilling in Alaska as part of efforts to strengthen U.S. energy security.

The new rule, to be published in the Federal Register on Nov. 17, will revoke the measures imposed by the Biden administration that restricted drilling in the National Petroleum Reserve on the North Slope, according to the Interior Department (DOI).

The petroleum reserve in Alaska, spanning roughly 23 million acres, was designated in 1923. Last year, the Biden administration restricted oil and gas drilling on over 13 million acres of the area for environmental reasons.

The DOI stated that it aims to restore drilling in the area to strengthen energy supply and reduce U.S. reliance on foreign sources, following President Donald Trump’s Jan. 20 executive order that called for the expansion of natural resource development across federal and state lands in Alaska.

“By rescinding the 2024 rule, we are following the direction set by President Trump to unlock Alaska’s energy potential, create jobs for North Slope communities and strengthen American energy security,” Secretary of the Interior Doug Burgum said in a Nov. 13 statement.

“This action restores common-sense management and ensures responsible development benefits both Alaska and the nation.”

Voice of the Arctic Inupiat, a nonprofit representing North Slope communities in Alaska, said it supports the move, noting that it would help sustain power generation, education, and other services that rely on tax revenue from resource development infrastructure.

North Slope Borough Mayor Josiah Patkotak also voiced support, calling the move a “meaningful step toward restoring a federal process” that respects local leadership in Alaska.

“Good policy comes from good process, which requires hearing directly from the people who live, work, and hunt here,” Patkotak said in a statement issued by the nonprofit.

The Natural Resources Defense Council (NRDC) opposed the move, claiming the DOI’s new rule disregards its obligation to protect the reserve.

“This rollback is nothing more than a giveaway to the oil and gas industry,” Bobby McEnaney, NRDC director of land conservation, said in a statement.

“Weakening protections is reckless, and it threatens to erase the very landscapes Congress sought to safeguard.”

This is not the first such Biden-era restriction that Trump has rolled back. Last month, the DOI announced that it would reopen the coastal plain of Alaska’s Arctic National Wildlife Refuge to oil and gas leasing and reissued permits for the 211-mile Ambler Road Project, which would allow access to cooper and cobalt deposits in the area.

Tyler Durden Fri, 11/14/2025 - 15:00

Trump Admin Rolls Back Biden-Era Restrictions On Alaska Oil And Gas Drilling

Zero Hedge -

Trump Admin Rolls Back Biden-Era Restrictions On Alaska Oil And Gas Drilling

Authored by Aldgra Fredly via The Epoch Times,

The Trump administration said Nov. 13 that it has finalized a rule rescinding Biden-era restrictions on oil and gas drilling in Alaska as part of efforts to strengthen U.S. energy security.

The new rule, to be published in the Federal Register on Nov. 17, will revoke the measures imposed by the Biden administration that restricted drilling in the National Petroleum Reserve on the North Slope, according to the Interior Department (DOI).

The petroleum reserve in Alaska, spanning roughly 23 million acres, was designated in 1923. Last year, the Biden administration restricted oil and gas drilling on over 13 million acres of the area for environmental reasons.

The DOI stated that it aims to restore drilling in the area to strengthen energy supply and reduce U.S. reliance on foreign sources, following President Donald Trump’s Jan. 20 executive order that called for the expansion of natural resource development across federal and state lands in Alaska.

“By rescinding the 2024 rule, we are following the direction set by President Trump to unlock Alaska’s energy potential, create jobs for North Slope communities and strengthen American energy security,” Secretary of the Interior Doug Burgum said in a Nov. 13 statement.

“This action restores common-sense management and ensures responsible development benefits both Alaska and the nation.”

Voice of the Arctic Inupiat, a nonprofit representing North Slope communities in Alaska, said it supports the move, noting that it would help sustain power generation, education, and other services that rely on tax revenue from resource development infrastructure.

North Slope Borough Mayor Josiah Patkotak also voiced support, calling the move a “meaningful step toward restoring a federal process” that respects local leadership in Alaska.

“Good policy comes from good process, which requires hearing directly from the people who live, work, and hunt here,” Patkotak said in a statement issued by the nonprofit.

The Natural Resources Defense Council (NRDC) opposed the move, claiming the DOI’s new rule disregards its obligation to protect the reserve.

“This rollback is nothing more than a giveaway to the oil and gas industry,” Bobby McEnaney, NRDC director of land conservation, said in a statement.

“Weakening protections is reckless, and it threatens to erase the very landscapes Congress sought to safeguard.”

This is not the first such Biden-era restriction that Trump has rolled back. Last month, the DOI announced that it would reopen the coastal plain of Alaska’s Arctic National Wildlife Refuge to oil and gas leasing and reissued permits for the 211-mile Ambler Road Project, which would allow access to cooper and cobalt deposits in the area.

Tyler Durden Fri, 11/14/2025 - 15:00

Democrats' Epstein Email Dump Backfires As Trump Sets DoJ On Clinton, Summers, Hoffman, Et Al.

Zero Hedge -

Democrats' Epstein Email Dump Backfires As Trump Sets DoJ On Clinton, Summers, Hoffman, Et Al.

Democratic political operatives initiated a coordinated propaganda attack centered on releasing Jeffrey Epstein's emails and promoting a range of narratives targeting President Trump, including claims that he and Epstein shared a Thanksgiving dinner in 2017. The Trump team has since responded, with the Department of Justice and the FBI set to begin investigations into "Epstein's involvement and relationship with Bill Clinton, Larry Summers, and Reid Hoffman."

Let's begin here: The email dump occurred on the same day Trump signed legislation ending the record-long government shutdown, a shutdown driven by the Democratic Party's decision to hold government funding hostage, triggering nationwide travel disruptions and SNAP funding outages.

What's clear is that the Democratic Party staked heavily on the Jeffrey Epstein email narrative. Bloomberg data shows that headlines mentioning "Epstein" were minimal throughout the shutdown, but as soon as Trump signed the bill to reopen the government, putting Democrats in a very unfavorable position and creating terrible optics in the news cycle, their propaganda cannon was fired. 

Western Journal's C. Douglas Golden describes the Democratic Party's maneuvering to control the news cycle after the government shutdown's damaging optics, highlighting how they cherry-picked Epstein emails to redirect attention.

On Wednesday, Democrats on the House Oversight Committee released three of Epstein's emails, which mentioned President Donald Trump in some vague way.

They redacted the name of one of his victims, who is said to be Virginia Giuffre; now deceased, the woman at the center of the scandal involving the former Prince Andrew was formerly employed at Mar-a-Lago but had repeatedly avouched, during her life, that she never witnessed Trump at any events where misbehavior was going on.

Later on Wednesday, the GOP members of the Oversight Committee decided to call foul on the cherry-picking and released over 20,000 pages of documents that paint a fuller picture of what's long been known: Trump and Epstein knew each other and broke in the early 2000s. The unredacted documents also seem to confirm the redacted victim was Giuffre.

Democrats, of course, were not happy. But the party had a new theory: OK, maybe the person in the email consistently stated that Trump didn't do anything wrong, but what about the fact that Epstein said he spent Thanksgiving of 2017 with Trump?

In a post on X, they said that's exactly what the "[d]ocuments show," noting that, "At the time, Trump was already president, and Epstein was already a convicted sex offender."

. . .

And, as conservative operative Greg Price noted, it wasn't verified "because it's an easily disprovable lie and the attempts to connect President Trump to Epstein's crimes are a giant hoax."

. . .

The post has since been deleted, since the Democrats figured out the smoking gun turned out to be an exploding cigar. But the internet is forever, as is evidence of what Trump was doing on Thanksgiving in 2017:

One of the claims - now a deleted X post, the Democratic Party's official account stated, "NEW: Documents show Donald Trump spent Thanksgiving with Jeffrey Epstein in 2017. At the time, Trump was already president, and Epstein was already a convicted sex offender." 

Now deleted post. 

For very obvious reasons. 

What's clear is that the info war launched by Democrats was intended to paper over the terrible optics surrounding the government shutdown.

However, the pendulum is now swinging the other way... 

Trump has asked Bondi, DoJ, and FBI to investigate "investigate Jeffrey Epstein's involvement and relationship with Bill Clinton, Larry Summers, Reid Hoffman, J.P. Morgan, Chase, and many other people and institutions, to determine what was going on with them, and him." 

"Fatty at LinkedIn, Reid Hoffman" 

"This is another Russia, Russia, Russia Scam, with all arrows pointing to the Democrats," the president noted. 

It appears the Democratic Party's social media desk, likely staffed by inexperienced Gen-Z operatives, didn't bother to verify anything. However, competence was never the point; the objective was to plant a headline and let it do maximum damage before anyone could check the facts. That's the nature of information warfare. And now it looks like the Trump team is preparing to hit back.

Tyler Durden Fri, 11/14/2025 - 14:40

Economic Reacceleration: A Contrarian View

Zero Hedge -

Economic Reacceleration: A Contrarian View

Authored by Lance Roberts via RealInvestmentAdvice.com,

Over the past two weeks, we’ve addressed a persistent question: if the data signals weakness, why hasn’t the recession arrived? In “Slowdown Signals: Are Leading Indicators Flashing Red?” we examined the cracks forming beneath the economy’s surface. From deteriorating leading indicators to credit stress and cooling employment metrics, the evidence supported a cautious stance. In the follow-up, “Promised Recession … So Where Is It?”, we explored the tension between these bearish signals and the market’s resilience. Economic risk has not disappeared, but the timeline for a downturn has stretched further than most expected.

Both articles’ tone was analytical but precise: the economy has not escaped danger. Leading economic indicators flash warning signs, from the Conference Board’s LEI to the ISM Manufacturing Index. Credit conditions remain tight with delinquencies on the rise, and employment trends, while stable on the surface, have started to weaken in rate-sensitive areas.

The consumer, long the backbone of the post-pandemic recovery, shows signs of fatigue. Excess savings have dwindled, credit card usage is climbing, and real wage gains have slowed. These are not signals of strength, but of late-cycle fragility.

Yet, despite these risks, the economy has not broken. The recession expected by most economists, strategists, and market commentators has yet to arrive. The S&P 500 continues to grind higher. Volatility remains muted. Consumer spending, while uneven, has not collapsed. And corporate earnings, though pressured in some sectors, have not cratered.

This divergence between bearish data and market behavior raises an important question: could the consensus be wrong? More specifically, what if the economy is not headed for contraction, but toward a renewed phase of expansion? That’s the contrarian view, an economic reacceleration, and it’s worth considering, not because it is guaranteed, but because few are prepared for it. In markets, surprises matter more than forecasts. If the surprise is upside growth, the implications for asset prices, portfolio strategy, and risk management could be substantial.

Let’s dig into it.

The Case for Economic Reacceleration

While consensus remains cautious, there is a case, however tenuous, for economic reacceleration. This isn’t about ignoring risks. It’s about acknowledging that conditions aligning could drive a shift from stagnation to renewed growth.

First, financial conditions have eased substantially since late last year. Despite the Fed maintaining higher policy rates, markets have pushed bond yields lower and credit spreads tighter. Equities have rallied, creating a wealth effect that supports consumption, at least within the top 10% of the population that owns 87% of the equity market. Furthermore, the top 40% of income earners currently account for 60% of total consumption.

Adding to that backdrop, the Chicago Fed National Financial Conditions Index has turned increasingly accommodative, suggesting that monetary policy’s grip on the economy is slipping. This eases the burden on consumers and businesses, setting the stage for renewed activity.

Third, fiscal support remains more robust than many acknowledge. Federal spending continues at a high level, with infrastructure outlays and industrial policy subsidies supporting investment in energy, manufacturing, and technology. These initiatives feed directly into corporate capital expenditures. The AI investment boom is a clear example of spending accelerating not just in “big tech,” but across the industrial supply chain. UBS has flagged this emerging capex cycle as a significant tailwind for mid-cycle expansion, which could offset a slowdown in consumer spending.

Fourth, labor market dynamics are more stable than the headlines suggest. While job openings have declined, layoffs remain low. Real disposable income has started to recover, supported by moderating inflation. This income stability allows consumers to maintain spending despite rising debt levels. Goldman Sachs has emphasized that consumption trends, particularly in services, remain strong enough to support growth in the near term. In the economically weighted ISM surveys, services (70% of the economy) are keeping the composite index in expansion territory.

Finally, there is the issue of data distortion. In recent months, significant revisions have been made to payrolls and GDP. Preliminary reports painted a picture of sharp deceleration, only for final data to show much more resilience. Goldman has warned that headline data may be underestimating actual activity. If that’s true, the economy may not need to rebound; it may already be stronger than it appears. We also see improvement in the Economic Composite Index, which comprises more than 100 data points, including manufacturing, services, leading indicators, and other economic factors.

Combined, these factors do not guarantee a reacceleration but offer a plausible case. They suggest the economy may be more resilient, supported, and responsive to easing conditions than the bearish narrative implies.

Supporting the Bull Market: Earnings and Valuation

If reacceleration gains traction, it becomes a fundamental driver of earnings growth. That’s the critical link. The equity rally has run ahead of fundamentals in some sectors. Valuations, particularly in technology and discretionary names, are stretched. Without earnings growth, they cannot be sustained. However, an economic reacceleration changes that dynamic. A pickup in nominal GDP would lift revenues. Stabilizing costs and improving operating leverage could support margins. As top-line growth returns, analysts would raise forward earnings estimates.

As UBS notes, they expect stronger earnings growth going into 2026, supported by stronger economic growth.

This path is especially relevant given the current market structure. Much of this year’s performance has been driven by a handful of mega-cap names; therefore, a broader earnings recovery, driven by an economic reacceleration, would allow the rally to widen. This is the theory, at least, and as breadth improves, volatility drops, and price-to-earnings multiples become more sustainable.

However, as we have noted previously, we had booming economic growth in 2020 and 2021, but the earnings growth remained confined to the largest companies. As shown in the chart above, earnings growth for the 493 remained weak. However, the expectation is that an improvement in economic growth, but not strong growth, will somehow allow the bottom 493 stocks to generate earnings growth as the Capex cycle for artificial intelligence engages. Maybe that is the case, but it remains a risk to investors. Nonetheless, the hope is that the economic reacceleration thesis, not a call for explosive expansion, will allow for durability in the current cycle, allowing the earnings tailwind to extend the bull market further than most expect.

Final Thoughts

For us, risk management remains essential. The case for economic reacceleration is certainly plausible, but it is also based on much “hope.” Hope that consumers will continue to consume at a strong pace, that AI Capex will offset declining savings risk, and that earnings will continue to sustain themselves well above long-term growth trends indefinitely to support current valuations. That seems to be a significant risk.

While there is certainly risk that “hopes” are disappointed, as investors, we must consider the possibility that an economic reacceleration comes to fruition. Such could leave overly defensive investors underexposed to equities, creating significant opportunity costs. Currently, many investors remain positioned for stagnation or slow deterioration. While that positioning aligns with the data, the yield curve, and historical patterns, the markets rarely reward consensus thinking. If reacceleration unfolds, it will catch many investors with an underweighted risk exposure.

Positioning for this shift does not require full conviction. But it does require readiness. Watch leading indicators for signs of stabilization. Monitor earnings revisions and forward guidance. Track credit spreads and yield curve behavior. These are the tells.

The opportunity lies in being early but not reckless. If growth is turning, earnings will follow, and earnings ultimately sustain bull markets.

Just something to consider.

Tyler Durden Fri, 11/14/2025 - 14:20

Noem Awards TSA Staff $10,000 Bonuses For Working During Shutdown

Zero Hedge -

Noem Awards TSA Staff $10,000 Bonuses For Working During Shutdown

Authored by Jill McLaughlin via The Epoch Times,

Homeland Security Secretary Kristi Noem handed out $10,000 bonus checks on Nov. 13 to thousands of frontline Transportation Security Administration (TSA) officers who stayed on the job during the federal government shutdown.

About 47,000 agents who worked through the 43-day shutdown despite not getting paychecks will be awarded a bonus along with back pay, according to Noem.

“We are going to not only continue their paychecks like they should have received all along, but also they’re going to get a bonus check for stepping up, taking on extra shifts, for showing up each and every day, for serving the American people,” Noem said at a news conference at George Bush Intercontinental Airport in Houston.

The officers were thanked for taking seriously every day the mission of the Department of Homeland Security, “and that’s keeping the American people safe while they go and commute across the country, and while they do their work and business and take care of their families,” Noem added.

A couple of the officers were singled out for their “exemplary” service and for taking on more hours and shifts during the shutdown.

“They were examples to the rest of the individuals that worked with them, and endured those hardships and continued to shine a light on what is special about America,” Noem said.

Noem added that she would be looking at all TSA officials who worked during the shutdown and would recognize their efforts with a bonus check to get them back on their feet.

She noted that TSA agents who missed work or called out sick were not necessarily exempt from receiving the bonus, saying that “people were not just inconvenienced but they were also damaged and harmed” by the government shutdown.

“What I’m so proud of today … is the outstanding patriotism and service of our TSA officers and officials that stepped up every single day,” Noem said.

She also recognized the public and private companies that stepped up during the shutdown.

“We still saw the best of America,” she added. “We saw people come together, support each other, take care of each other, and go above and beyond to make sure the mission of the Department of Homeland Security was fulfilled.”

The department worked late Wednesday night to complete administrative paperwork to start paying TSA agents the backpay they earned during the shutdown, Noem added.

TSA Precheck entry at San Diego International Airport on Oct. 26, 2024. Jane Yang/The Epoch Times

President Donald Trump Wednesday night signed a bill passed by Congress to fund the government until January, bringing an end to the longest government shutdown in U.S. history.

The Trump administration has implemented measures this year to help speed up TSA lanes in airports, including allowing passengers to leave their shoes on when going through the scanners.

The department also plans to implement veteran, military, and family lanes, according to Noem.

Tyler Durden Fri, 11/14/2025 - 13:40

Alibaba Falls After White House Memo Alleges Company Supports Chinese Military Targeting Of US

Zero Hedge -

Alibaba Falls After White House Memo Alleges Company Supports Chinese Military Targeting Of US

Shares of Alibaba fell in New York around 1 p.m. EST after the Financial Times reported a White House national-security memo detailing newly declassified intelligence alleging the Chinese tech giant has been providing technological support to the People's Liberation Army (PLA), the military of the Chinese Communist Party (CCP) and the People's Republic of China (PRC).

The memo claims that Alibaba provides the PLA and PRC with access to customer data, including IP addresses, Wi-Fi information, payment records, and various AI-related services. It also alleges that employees transferred knowledge about zero-day vulnerabilities (software flaws that hackers can exploit) to the PLA.

Alibaba strongly denied the report, saying:

"The claims purportedly based on US intelligence that was leaked by your source are complete nonsense. This is plainly an attempt to manipulate public opinion and malign Alibaba."

Shares of BABA are down 2.3%.

The White House memo was drafted immediately after the Trump-Xi meeting in South Korea last month, during which both leaders agreed to a temporary truce on trade restrictions. 

A US official confirmed to FT that the administration is actively working to mitigate risks posed by intrusions involving untrusted vendors. 

We can only wonder whether this posturing by the administration has anything to do with PRC state-sponsored hackers infiltrating U.S. telecommunications companies in an attack known as "Salt Typhoon" …

*Developing...

Tyler Durden Fri, 11/14/2025 - 13:16

Iran's Elite IRGC Seizes Tanker In Strait Of Hormuz

Zero Hedge -

Iran's Elite IRGC Seizes Tanker In Strait Of Hormuz

After a long period of relative quiet, the Strait of Hormuz is flaring up again as on Friday Iranian forces are reported to have seized a Marshall Islands-flagged tanker.

This is a first in a long time, but the Iranians are saying it is a somewhat 'routine' instance of intercepting a ship for "smuggling fuel", according to state IRNA. The Iranians are now claiming to be acting within the laws of the Islamic Republic.

Illustrative: Getty Images

But it was clearly an international vessel, with a US official and a private maritime risk group saying it was forcibly diverted into Iranian territorial waters as it made its way through the narrow strait.

International reports have identified the tanker as the Talara, en route from Ajman in the United Arab Emirates to Singapore when it was intercepted.

Further, British maritime risk firm Vanguard has described that the vessel was seized by Iran’s Revolutionary Guard Corps (IRGC) - which typically oversees such aggressive Iranian naval operations related to foreign vessels - and redirected toward Iranian waters.

Reports further say that three boats were observed approaching the Talara. Further AP reports that "A U.S. Navy MQ-4C Triton drone had been circling above the area where the Talara was for hours on Friday observing the seizure," according to flight-tracking data.

Lloyd's List has written, "The vessel is owned by the Greece-based Coronis Family Group of Companies. The company has not responded to requests for comment."

The publication says, "Maritime security firm Ambrey issued a warning, saying that a Marshall Islands-flagged crude oil tanker that had previously been approached by three small boats while transiting southbound through the Strait of Hormuz was observed making a sudden course deviation at the same location."

Tensions have long been on edge in the region as Tehran has vowed retaliation for the prior June 12-day war, which saw Israel mount a surprise attack and the US bomb Iran's nuclear facilities.

Tyler Durden Fri, 11/14/2025 - 13:00

Boeing Union Workers Approve New Contract, Ending 3-Month Strike

Zero Hedge -

Boeing Union Workers Approve New Contract, Ending 3-Month Strike

Authored by Victoria Friedman via The Epoch Times,

Thousands of Midwestern machinists who assemble military aircraft voted on Nov. 13 to accept a new contract with Boeing, bringing to an end three months of industrial action.

The workforce had been on strike since Aug. 4 over demands for better wages and work schedules.

District 837 of the International Association of Machinists and Aerospace Workers (IAM) represents 3,200 machinists at facilities in St. Louis and St. Charles, Missouri, and Mascoutah, Illinois. Its members build and maintain the F-15, F/A-18, and advanced missile and defense systems for the U.S. military, according to the union.

In a statement, IAM District 837 thanked its bargaining committee for its efforts to negotiate a deal acceptable to members.

“We appreciate the unwavering support of our members, their families, the St. Louis community, our labor allies, and elected officials throughout this fight,” IAM District 837 said. “We’re proud of what our members have fought for together and are ready to get back to building the world’s most advanced military aircraft.”

Boeing confirmed in a statement that IAM 837 had ratified the new contract.

“We look forward to having our full team back at work,” Boeing said. “IAM 837-represented employees at all St. Louis-region sites are to report to work beginning with third shift on Nov. 16 at 11 p.m.”

Throughout negotiations, IAM District 837 had been calling for Boeing to agree to higher retirement plan contributions, stronger wage increases to keep up with inflation, and a larger ratification bonus, a one-time payment offered to union members after they vote to approve a new contract.

On Nov. 10, Boeing revised the proposed ratification bonus, increasing it from $3,000 to $6,000, but dropped the $1,000 annual retention bonus, which would have been paid yearly for four years. The rest of the offer was largely unchanged from earlier versions, which had been rejected by the union.

On Nov. 4, Sen. Josh Hawley (R-Mo.) wrote to Boeing CEO Kelly Ortberg, urging the company to “negotiate in good faith” and “quickly reach an agreement that the IAM 837 machinists can afford to accept.”

Hawley congratulated the workers in a Nov. 13 post on X.

“Congratulations to the 3000+ Missouri workers who today secured a new and better contract with Boeing,” Hawley said. “For months they have stood strong, and today they’re getting the raise they and their families deserve.”

Christy Williams greets people at the voting check-in table, where International Association of Machinists and Aerospace Workers union members picked up their ballot to vote on a negotiated tentative labor agreement that would end their strike against Boeing Defense St. Louis regional operations. in Maryland Heights, Mo., on Sept. 12, 2025. David Carson/St. Louis Post-Dispatch via AP

Rep. Wesley Bell (D-Mo.) said in a statement that he was “glad to see IAM District 837 and Boeing reach a fair agreement that gets our highly skilled workers back on the job.”

“These workers deserve wages and benefits that reflect the true value of their work, and this agreement is a major victory for them, their families, and the entire St. Louis region,” Bell said. “Boeing has long been a cornerstone of our region’s economic success, and that success has always depended on the talent and dedication of its workforce.”

F-15EX Delivery Delays

The strike by about 3,200 machinists at facilities in the Greater St. Louis area was smaller in scale than last year’s action by workers at Boeing’s commercial airplane division in Washington and Oregon, which saw 33,000 machinists walk out.

While smaller in scale, the action had an impact on the deliveries of F-15EX fighters to the U.S. Air Force.

Ahead of an Oct. 9 Senate Armed Services Committee hearing for the nomination of Gen. Kenneth Wilsbach as the Air Force’s chief of staff, the four-star general said in submitted comments that delivery of the second lot of aircraft for the F-15EX program is “delayed due to the ongoing Boeing strikes with six of 12 F-15EX delivered to date.”

“These delays will impact F-15EX operations at Portland [Air National Guard Base],” as well as initial delays to deliveries of the third lot of aircraft overseas in 2026, said Wilsbach, who has since been confirmed and sworn in as 24th Air Force chief of staff. “While later than initially planned, aircraft deliveries and program milestone dates remain within the program’s acquisition baseline.”

Next-Generation Fighter Craft

On March 21, President Donald Trump announced that Boeing had been awarded the $20 billion contract to build the U.S. Air Force’s next-generation stealth fighter jet, designated the F-47.

Air Force Chief of Staff Gen. David Allvin said on Sept. 22 that the first of the craft should be ready to fly by 2028.

An artist rendering of the Air Force’s sixth-generation fighter, the F-47. Courtesy of the U.S. Air Force

The F-47—previously known as the Next-Generation Air Dominance platform—is envisioned to replace the F-22 Raptor as the centerpiece of the United States’ future air superiority fleet.

The program was briefly paused under the Biden administration but was revived under Trump.

Tyler Durden Fri, 11/14/2025 - 12:20

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