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Trump turns to Putin for Russian diesel as U.S. pump prices climb, while a November 5 White House hearing threatens Fed Governor Lisa Cook's position. Meanwhile, sweeping U.S. sanctions target the International Criminal Court, and nearly 20% of American families are falling behind on loan payments.

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The Big Read

Trump Trades Sanctions Pressure for Russian Diesel

President Trump said Friday he struck a deal with Vladimir Putin for Russian diesel, reversing years of US pressure on Moscow while trying to tame fuel prices before the midterms. Russia will immediately supply more than 300,000 tons, followed by 500,000 tons in November and another million tons after that, with three million more promised later, according to Trump.

Ukrainian President Volodymyr Zelensky slammed the deal as a gift to Putin, warning that any easing of sanctions plays into Moscow's hands and would prolong the war. The average US diesel price sits at $6.28 a gallon, according to AAA, after the Iran war that began in February sent pump prices sharply higher.

White House Sets November Hearing to Probe Fed's Lisa Cook

Trump created a committee of inquiry Friday to investigate claims that Federal Reserve Governor Lisa Cook made false statements on mortgage applications, his latest bid to fire her. The panel includes three executive branch officials, among them top economic aide Kevin Hassett, and Cook is expected at a closed White House hearing on Nov. 5.

It marks the first time in 113 years that a president has sought to remove a Fed governor, and Cook's attorneys said they were considering having her appear. The fight lands just a month after the Fed, led by Trump appointee Kevin Warsh, raised its key interest rate instead of the cuts the president has repeatedly called for.

Rubio Unveils Sweeping Sanctions on the International Criminal Court

Secretary of State Marco Rubio announced sweeping sanctions on the ICC Friday, banning US transactions with the court in a bid to collapse its ability to operate financially. The move came hours after former ICC judge Navi Pillay won the Nobel Peace Prize, and Washington has already sanctioned 17 of the court's judges and officials.

The sanctions cut the court off from US financial services, technology companies and the dollar itself, with a six-month window for American businesses to wind down their dealings. The ICC called the step an assault on the rule of law, while UN Secretary-General Antonio Guterres described it as a serious blow to international criminal justice.

World View

A magnitude 7.7 earthquake struck Panama on Friday, and verified footage showed collapsed buildings in Penonomé and Soná, including part of a cathedral and one of its spires.

Ethiopia formally accused Eritrea of an all-out invasion of its Tigray region in a letter to the UN Security Council, and warned it will defend itself against Eritrean troops.

The axe-wielding FlyDubai co-pilot planned to fly the plane into Tel Aviv's main airport terminal, UAE prosecutors said Friday, adding that he drew inspiration from the 9/11 attacks.

Need To Know

Hurricane Isaias, the season's first Atlantic hurricane, is expected to make landfall Friday evening near the Alabama coast and Florida Panhandle, as Shell and BP evacuated offshore crews.

The Justice Department will stop enforcing federal registration rules on silencers and short-barreled rifles more broadly, after a Texas judge struck down parts of the National Firearms Act.

Trump named Trump Media adviser Katie Zacharia as the next White House press secretary, choosing a conservative commentator who previously had a brief stint as a Homeland Security spokeswoman.

Money & Markets

Verizon closed down 8.75% Friday, its worst day since July 2002, after SpaceX struck a spectrum deal to push Starlink into mobile service, while T-Mobile sank 13.27%.

Tesla dropped the Full Self-Driving name in Europe, rebranding the system as Assisted Driving after German regulators called it somewhat misleading, though US drivers still see the original label.

Wall Street capped a record-setting week as the S&P 500 climbed 0.6% Friday to 7,811.54, while the Dow added 0.8% to finish at 51,654.95 and the Nasdaq rose 0.6%.

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Future Frontiers

A Russian plague lab worker's death has world leaders turning to global health rules, as the WHO and Trump press Moscow for details while Russia insists there is no emergency.

The US is enduring its worst measles year since 1991, and AP's new graphics show outbreaks concentrated in Pennsylvania, South Carolina and Utah, with only five states reporting no cases.

The FBI arrested an accused co-conspirator in the ShinyHunters breach of its jobs portal, a hack the group claimed exposed sensitive personal data on nearly all bureau employees.

The Score

Mike Ditka, who led the 1985 Bears to the franchise's only Super Bowl title, died Friday at 86, a pioneer who became the first tight end in the Hall.

Baltimore ruled out Lamar Jackson for Sunday night's game at Atlanta with a left ankle injury, so Tyler Huntley, 2-0 as a fill-in starter last season, takes over.

Novak Djokovic crashed out in Shanghai after a 6-4, 6-3 loss to Hubert Hurkacz in just 87 minutes, only days after the 39-year-old won the China Open in Beijing.

Life & Culture

Gail Lerner says she was fired from 'Newlyweds,' the NBC sitcom she co-created with Jamie Lee Curtis, over creative differences just two weeks before its Oct. 23 premiere.

Paramount+ launched 'Avatar: Seven Havens' with a three-episode premiere introducing twin Avatars, set 225 years after 'The Legend of Korra' in a world nearly destroyed by a mysterious cataclysm.

Pitbull's new 24-track album 'Pitcoin' keeps the party going, according to an AP review calling it short on standouts, despite collaborations with KISS, Bon Jovi and Enrique Iglesias.

Deep Dive

Nearly One in Five US Families Is Falling Behind on Debt

What it is: The Federal Reserve's Survey of Consumer Finances, released Friday and published every three years, found families more likely to be behind on bills than at any point since 2010. That 2010 benchmark matters because the country was emerging from the Great Recession, when a subprime mortgage collapse spread through global banks and unemployment hit 10%.

The detail: The share of families behind on loan payments jumped from about 12% to nearly 20% by the end of 2025, while those two months or more behind topped 8%. Families spending more than 40% of their income on debt payments climbed to 8.6% from 6.5% in 2022, the highest share the survey recorded since 2013.

Why it matters: The pain is uneven, since families aged 35 and below saw median net worth drop 23% to $33,000, while those 75 and older climbed to nearly $505,000. Stock market gains lifted the top end, with the richest tenth of families seeing median net worth soar 31% to $3.6 million between 2022 and 2025.

What to watch: The survey only runs through 2025, but a New York Fed survey released this week showed households reporting worse finances than a year ago and expecting further weakness. Watch whether late payments keep climbing as families head into the holiday season, since the next full Survey of Consumer Finances will not arrive for another three years.

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Today's Trivia

Macau derives the large majority of its government revenue from which source?

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Extra Bits

Hundreds of fans dressed as Spider-Man at New York Comic Con tried for a Guinness World Record, only to finish just short of the 685-person mark set in Malaysia.

More than a dozen orphaned kittens toured the Sea Life Aquarium at the Mall of America, the rescue group's sixth annual visit, which helps them socialize while they await adoption.

An Austrian mountain biker dropped 12.46 feet from a platform to crush a small cardboard box with his back tire, earning a Guinness World Record without any specific training.

On This Day

The Treaty of Bern creates the General Postal Union, today's Universal Postal Union (1874) · Alexander Graham Bell and Thomas Watson hold the first two-way long-distance telephone conversation (1876) · "The Phantom of the Opera" opens in London's West End (1986) · A meteorite smashes into a parked Chevrolet Malibu in Peekskill, New York (1992) · Barack Obama is named winner of the Nobel Peace Prize (2009)

"To be honest, I do not feel that I deserve to be in the company of so many of the transformative figures who've been honored by this prize." — Barack Obama, then US president, Oct. 9, 2009

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