Australia’s Consumer Sentiment Drops As Economic Worries Mount

Oil prices gained on Tuesday after OPEC+ decided to increase production by less than what market participants had anticipated, while concerns over tighter supply due to potential new sanctions on Russia continued to lend support.

Brent crude gained 22 cents, or 0.33%, to $66.24 a barrel by 0005 GMT, while U.S. West Texas Intermediate crude climbed 24 cents, or 0.39%, to $62.50 a barrel.

Eight members of the Organization of the Petroleum Exporting Countries and allies, collectively known as OPEC+, agreed on Sunday to raise production from October by 137,000 barrels per day. That is much lower than the monthly increases of about 555,000 bpd for September and August, and 411,000 bpd in July and June. It is also less than some analysts had expected.

The October move "marks the reversal of cuts that were set to remain in place until the end of 2026, following the rapid return of the previous tranche of idled barrels over recent months," said Daniel Hynes, senior commodity strategist at ANZ, in a client note on Tuesday.

Prices were also supported by speculation of more sanctions on Russia after the country's biggest air attack on Ukraine set fire to a government building in Kyiv. U.S. President Donald Trump said he was ready to move to a second phase of restrictions.

The European Union's top sanctions official was in Washington with a team of experts to discuss what would be the first coordinated transatlantic measures against Russia since Trump returned to office.

Further sanctions on Russia would diminish its oil supply to global markets, which could support higher oil prices.

The U.S. Federal Reserve's Federal Open Market Committee meets next week, and traders see an 89.4% chance of a quarter-point interest rate cut.

Lower rates reduce consumer borrowing costs and can boost economic growth and demand for oil.

Source: Yahoo Finance

After weeks of vowing to deploy National Guard troops to fight crime in Chicago, the Trump administration said on Monday it had launched a deportation crackdown in Illinois targeting hardened criminals among immigrants in the U.S. without legal status.The U.S. Department of Homeland Security said in an online statement that "Operation Midway Blitz" was being conducted by the Immigration and Customs Enforcement agency, but details about its scope and nature were not immediately made clear.

It remained to be seen whether President Donald Trump would send National Guard soldiers into Chicago to accompany ICE and other federal law enforcement officers, as he has in and around Los Angeles and the District of Columbia.Illinois Governor JB Pritzker and Chicago Mayor Brandon Johnson, both Democrats, each said their offices had received no official notice from federal authorities about the operation, which they decried as a political stunt designed to intimidate.

Trump has been ramping up his rhetoric about expanding federal law enforcement and National Guard presence in Democratic-led cities and states, casting the use of presidential power as an urgent effort to confront crime even as local officials cite declines in homicides and other violent offenses.DHS said its latest ICE operation was necessary because of city and state "sanctuary" laws that limit cooperation with federal immigration authorities.Assistant DHS Secretary Tricia McLaughlin said the crackdown was aimed at convicted gang members, rapists, kidnappers and drug traffickers who she called "the worst of the worst criminal illegal aliens in Chicago."

The press release cited 11 cases of immigrants in the U.S. illegally, most from Mexico and Venezuela, who DHS said had records of arrest or convictions for serious crimes and were released from local jails rather than turned over to federal immigration officials.City Alderwoman Jeylu Gutierrez, who represents the predominantly Hispanic 14th Ward on Chicago's southwest side, said at least five members of her community had been detained in what she called a "federal assault."Among those arrested, Gutierrez said, was a flower vendor taken into custody on the job, while others were detained as they waited for a bus or walked on the sidewalk.

'THIS ISN'T ABOUT FIGHTING CRIME'

"This was never about arresting the worst of the worst, this is about terrorizing our communities," Gutierrez, a Mexican immigrant, told a press conference.

Pritzker, widely seen as a potential 2028 candidate for the White House, also disputed the crime-fighting rationale that Trump voiced last Tuesday when he said he would send National Guard troops to Chicago, the nation's third most populous city and a Democratic stronghold."This isn't about fighting crime," Pritzker said on social media platform X on Monday. "That requires support and coordination — yet we've experienced nothing like that over the past several weeks."Pritzker has suggested Trump's National Guard deployments might be a dress rehearsal for using the military to manipulate the 2026 midterm congressional elections.

Johnson said he was concerned about "potential militarized immigration enforcement without due process," citing "ICE's track record of detaining and deporting American citizens and violating the human rights of hundreds of detainees."In a post on Truth Social on Monday, Trump cited recent murders and shootings in Chicago and blamed Pritzker for making no requests for assistance from the Trump administration."I want to help the people of Chicago, not hurt them," Trump wrote. "Only the Criminals will be hurt! We can move fast and stop this madness."

In a separate post on Saturday, Trump posted a meme based on the 1979 Vietnam War movie "Apocalypse Now" that showed an image of the Chicago skyline with flames and helicopters, reminiscent of the deadly helicopter attack on a Vietnamese village in the film.The Trump administration launched a parallel immigration enforcement operation in Boston in recent days, an ICE official confirmed on Monday.ICE also said on Monday that its Houston-based agents had arrested 822 "criminal aliens, transnational gang members, child predators, foreign fugitives and other egregious offenders" during a week-long operation last month in southeastern Texas.

Previously, DHS said ICE had arrested nearly 1,500 immigration offenders during a month-long enforcement surge in Massachusetts in May and early June.The latest ICE operation in Chicago was announced the same day that the U.S. Supreme Court issued a 6-3 decision allowing federal agents in Southern California to proceed with immigration raids that detain people on the basis of their race, ethnicity, language or accent, even without "reasonable suspicion" that they are in the country illegally.

Source: Reuters

The Los Angeles-class nuclear-powered fast attack submarines were designed to thwart Soviet submarines.

The United States has deployed one of its nuclear-powered fast-attack submarines to the southern Caribbean as part of the White House’s ongoing efforts to combat drug trafficking in the region. USS Newport News is expected to arrive off the coast of Venezuela in the upcoming days, along with a cohort of other US Navy vessels. Additionally, the two Iwo Jima Amphibious Ready Groups, made up of the assault ship USS Iwo Jima, the amphibious transport dock USS San Antonio, and the USS Fort Lauderdale landing ship, arrived in the Caribbean waters earlier this month. The United States has also dispatched three destroyers, USS Gravely, USS Sampson, and USS Jason Dunham to the scene.

The Trump administration issued an executive order (EO) aimed at dismantling drug cartels back in January. As detailed in the EO, “The Cartels’ activities threaten the safety of the American people, the security of the United States, and the stability of the international order in the Western Hemisphere. Their activities, proximity to, and incursions into the physical territory of the United States pose an unacceptable national security risk to the United States.” The deployment of naval warships is meant to contribute to this strategy of curbing drug trafficking routes into America.

USS Newport News and the Los Angeles-class Submarine

USS Newport News (SSN-750) was commissioned in 1989 and has served the Navy honorably ever since. The Los Angeles-class nuclear-powered fast attack submarines were designed during the Cold War to effectively thwart the Soviet Union’s advancements in submarine technology. Specifically, the United States required a new platform capable of better defending the Navy’s carrier battle groups. The resulting Los Angeles-class warships were constructed in three successive flights. USS Newport News was designed in the Flight II block, which emphasized greater firepower. The Los Angeles submarines were notably 50 percent larger than their Sturgeon-class predecessors and featured greater stealth and speed when introduced. In all, the Los Angeles vessels specialize in versatility, including surface warfare, undersea warfare, mining operations, reconnaissance, special forces delivery, intelligence, and carrier battle group support. Powered by the General Electric S6G pressurized water reactor, the Los Angeles submarines are able to travel at speeds in excess of 25 knots. However, it is rumored that these formidable warships can actually sail at much faster speeds.

As mentioned previously, the United States has also dispatched a slew of other warships to the Caribbean waters in order to counter drug trafficking. Earlier this summer, Arleigh Burke-class destroyer USS Gravely participated in a major drug bust in these waters, resulting in the seizure of roughly $14 million in cocaine. In a statement issued by the US 2nd Fleet, “The team discovered and seized 19 bales of cocaine, with an approximate weight of 860 pounds and an estimated value of $13,650,000. U.S. Navy forces are deployed under U.S. Northern Command’s maritime homeland defense authorities with a LEDET embarked to enable maritime interdiction missions to prevent the flow of illegal drugs and other illegal activity.”

Source: The National Interest

The cryptocurrency world is buzzing with a groundbreaking development: a significant Cleancore DOGE purchase. This isn’t just another transaction; it’s a major institutional endorsement that could redefine perceptions of Dogecoin. New York Stock Exchange-listed Cleancore Solutions (ZONE) has officially made its first substantial move into the meme coin market, signaling a bold strategic direction. This article dives into the details of this monumental acquisition and its potential ripple effects across the crypto landscape.

Understanding Cleancore’s Strategic DOGE Purchase

Cleancore Solutions, a publicly traded entity, recently made headlines with its acquisition of 285 million DOGE tokens. Valued at an impressive $68 million, this transaction was initially reported by Crypto Briefing. This move is not an isolated event; rather, it’s the initial phase of a much larger, ambitious plan. Cleancore had previously announced its intention to accumulate a significant portion of the total DOGE supply.

The company’s long-term vision involves securing 5% of all Dogecoin in circulation. Their immediate objective is to reach one billion DOGE tokens. This initial Cleancore DOGE purchase represents a substantial step towards that goal, demonstrating serious commitment from a traditional financial player in the volatile crypto market. Such a large-scale investment by a listed company naturally raises questions about the future of Dogecoin.

Why This Cleancore DOGE Purchase Matters for Dogecoin?

Institutional investment in cryptocurrencies often acts as a powerful validator, lending credibility to previously speculative assets. Cleancore’s decision to invest heavily in DOGE is particularly noteworthy for several reasons:

Moreover, this move highlights a growing trend where established corporations are looking beyond Bitcoin and Ethereum, recognizing the potential in other altcoins, even those with unconventional origins like Dogecoin. Consequently, this strategic move by Cleancore could inspire further corporate exploration into diverse digital assets.

The Road Ahead: Challenges and Opportunities from Cleancore’s DOGE Purchase

While the Cleancore DOGE purchase brings exciting opportunities, it also presents potential challenges. Integrating such a large amount of a volatile asset into a corporate balance sheet requires careful management and a robust understanding of market dynamics. However, the benefits could be substantial.

For Dogecoin, this investment could:

However, the crypto market remains inherently unpredictable. Cleancore’s strategy will need to navigate regulatory changes, market sentiment shifts, and the ongoing evolution of the digital asset space. The success of this ambitious plan will be closely watched by the entire industry.

What Does This Cleancore DOGE Purchase Mean for Institutional Crypto Investment?

The Cleancore DOGE purchase serves as a fascinating case study in the evolving landscape of corporate crypto strategy. It signals a willingness among some traditional companies to embrace assets beyond the established giants like Bitcoin. This bold move by Cleancore Solutions could very well set a precedent, encouraging other firms to diversify their digital asset portfolios and explore less conventional cryptocurrencies.

As the lines between traditional finance and decentralized finance continue to blur, such acquisitions demonstrate a clear trend towards mainstream integration. Investors, both retail and institutional, should pay close attention to how these developments unfold, as they could reshape the future of digital asset valuation and adoption. Furthermore, this move highlights a growing confidence in the long-term viability of various digital assets.

In conclusion, Cleancore Solutions’ initial $68 million Cleancore DOGE purchase marks a significant milestone for both the company and Dogecoin. It underscores a growing institutional confidence in cryptocurrencies, even those with unique origins. This strategic move could pave the way for increased legitimacy, market stability, and broader adoption for Dogecoin, while also challenging conventional perceptions of value in the digital asset space. The journey to acquire 5% of DOGE’s total supply is just beginning, and its implications will undoubtedly resonate throughout the crypto market for years to come.

Frequently Asked Questions (FAQs)

Q1: What is Cleancore Solutions’ recent Dogecoin acquisition?Cleancore Solutions (ZONE), a NYSE-listed company, recently purchased 285 million DOGE tokens, valued at $68 million, as part of its strategic entry into the cryptocurrency market.

Q2: What is Cleancore’s long-term goal for Dogecoin?Cleancore aims to secure 5% of the total Dogecoin supply, with an initial target of acquiring one billion DOGE tokens. This recent purchase is the first step towards that ambitious goal.

Q3: How does institutional investment affect Dogecoin’s legitimacy?A significant Cleancore DOGE purchase by a publicly traded company like Cleancore provides a strong institutional endorsement, lending credibility to Dogecoin and potentially shifting its perception from a ‘meme coin’ to a more legitimate asset class.

Q4: What are the potential benefits of this purchase for DOGE?This acquisition could lead to enhanced legitimacy, increased market stability due to large holdings, and broader adoption of Dogecoin as other companies might follow suit. It may also encourage further development on the Dogecoin blockchain.

Q5: Are there any challenges associated with Cleancore’s DOGE investment?Yes, challenges include managing the volatility of a cryptocurrency asset on a corporate balance sheet, navigating evolving regulatory landscapes, and responding to shifts in overall market sentiment. The long-term success hinges on careful strategy and execution.

Source: CryptoSlate

Thailand's Supreme Court will decide on Tuesday if former premier Thaksin Shinawatra should serve prison time that he skipped while in hospital detention, a high-profile ruling that could finally see Thailand's most influential tycoon jailed.

On return from 15 years of self-imposed exile in 2023, he spent only a few hours in prison before being transferred to hospital complaining of heart trouble and chest pains, prompting widespread scepticism and public outrage.

His eight-year sentence for conflicts of interest and abuse of power was commuted to one year by the king and Thaksin was released on parole after just six months, the entirety of which he had spent in the VIP wing of a hospital.

Thaksin's entourage is facing a period of political reckoning after his daughter and protégée Paetongtarn Shinawatra was sacked as prime minister by a court 11 days ago - the sixth premier from or backed by the Shinawatra family to be removed by the judiciary or military.

Days of chaos ensued before Paetongtarn's government fell on Friday, outmanoeuvred by challenger Anutin Charnvirakul, who was elected premier by parliament in a humiliating defeat for Thaksin's once unstoppable Pheu Thai party.

The court will decide if the hospital stay should count as time served - and could order the polarising billionaire to complete the sentence in prison.

It sequestered his medical records and summoned 20 witnesses, including a former head of the corrections department and physicians who treated him.

Thailand's medical council has suspended two doctors for issuing documents that contained false medical information. A prison doctor was cautioned for failing to meet medical standards in referring Thaksin for hospital treatment.

The 76-year-old appeared in good health as he returned from exile to cheering crowds in 2023 and in the months following his release, when he became active again in politics, though officially retired.

His lawyer in June insisted he had been sick during his hospital stay, adding "he has completely served his sentence".

Amid turmoil in his party, Thaksin quietly flew on Thursday to Dubai, where he had spent most of his exile, prompting speculation that he had fled justice again. But he returned on Monday, having promised to attend the verdict.

Source: Reuters

France's parliament brought down the government on Monday over its plans to tame the ballooning national debt, deepening a political crisis that is weakening the euro zone's second-largest economy.

Lawmakers voted to oust Prime Minister Francois Bayrou and his minority government with 364 votes against the veteran centrist politician and 194 in his favour.

President Emmanuel Macron, who is facing calls from the opposition to dissolve parliament and resign, will instead hunt for his fifth prime minister in less than two years. His office said he would appoint one in the next few days.

The next government's most pressing task will be to pass a budget, the same challenge Francois Bayrou faced when he took office nine months ago. Securing the backing of a very divided parliament will be equally hard.

"You have the power to bring down the government, but you do not have the power to erase reality," Bayrou told lawmakers before losing the confidence vote.

"Reality will remain relentless: expenses will continue to rise, and the burden of debt, already unbearable, will grow heavier and more costly," he said.

Bayrou will tender his resignation on Tuesday, his office said.

He had called the confidence vote to try to win parliamentary support for his strategy to lower a deficit that stands at nearly double the European Union's 3% ceiling, and to start tackling a debt pile equivalent to 114% of GDP.

But opposition parties were in little mood to rally behind his planned savings of 44 billion euros ($51.51 billion) in next year's budget, with an election for Macron's successor looming in 2027.

"This moment marks the end of the agony of a phantom government," far-right leader Marine Le Pen said, pushing for a snap parliamentary election, which Macron has so far ruled out.

"Macron is now on the front line facing the people. He too must go," Jean-Luc Melenchon, leader of the hard-left France Unbowed, said on X.

WHO'S NEXT?

A lengthy period of political and fiscal uncertainty risks undermining Macron's influence in Europe at a time when the United States is talking tough on trade and security, and war is raging in Ukraine on Europe's eastern flank.

The French president could now nominate a politician from his own centrist minority ruling group or from the ranks of conservatives as the next premier, but that would mean doubling down on a strategy that has failed to yield a stable alliance.

He also could tack to the left and nominate a moderate socialist, or choose a technocrat.

No scenario would be likely to hand the next government a parliamentary majority. It was inevitable that the need to form a new government would result in a dilution of the deficit reduction plan, Finance Minister Eric Lombard said before the vote.

Macron may eventually decide the only path out of the crisis lies in calling a snap election, but he has so far resisted calls from Le Pen's National Rally and from France Unbowed to dissolve parliament a second time.

FISCAL MESS

Financial markets had anticipated the confidence vote would fail and there was little immediate reaction on Monday. French markets face another test on Friday, when Fitch Ratings reviews its sovereign rating for France. Moody's and S&P Global follow with their own rating reviews in October and November.

"Over the near-term, I'm sure everyone in markets expects paralysis and downward pressure on ratings," said Chris Scicluna, head of economic research for Daiwa Capital Markets. As for now, "the outcome was as expected, so markets should react in a modest way."

France's EU peers will be watching closely.

France holds the highest deficit as a percentage of GDP in the euro zone - the bloc using the EU's single currency. It pays more to service its debt than Spain and spreads against benchmark German 10-year bonds are at their highest level in four months.

A rating downgrade would hamper France's ability to raise money at low interest rates from investors, potentially deepening its debt problems.

The Socialists have offered a counter-budget that would impose a tax of at least 2% on personal wealth greater than 100 million euros ($117.5 million) and generate savings of 22 billion euros - a proposal that would be tough to marry with the pro-business reform agenda of Macron's presidency.

Discontent may also start brewing on the streets. A grassroots protest movement called "Bloquons Tout" ("Let's Block Everything") is calling for nationwide disruption on Wednesday. Trade unions are plotting walkouts the week after.

Like many in France, Mohamed, 80, who sells produce at the Aligre market in Paris, doesn't think the politicians will find a way out.

"Come back in 10 days and you'll see nothing will have changed. There won't be a majority, there will be no budget."

($1 = 0.8511 euros)

Source: Reuters