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Melania Trump ‘Brokers’ Oleshky Ceasefire – But The White House And Russia Give Different Start Dates

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Melania Trump ‘Brokers’ Oleshky Ceasefire – But The White House And Russia Give Different Start Dates
Melania Trump ‘Brokers’ Oleshky Ceasefire – But The White House And Russia Give Different Start Dates

The White House said Friday that First Lady Melania Trump brokered a localized ceasefire in Oleshky, a Russian-occupied city in Ukraine’s Kherson region, to let aid in and civilians out. The White House says it starts October 29, but Gen. Valery Gerasimov said Russian forces would stop firing October 27.

(Credit: Matt McClain/Getty Images)

In its statement, the White House said “both nations agreed to temporarily stop all military action in Oleshky to allow for humanitarian aid to enter and to prepare a civilian evacuation through a designated safe passageway.” Melania Trump called Oleshky “a front-line war city on the brink of disaster” and said she anticipates “some will want to go to Russia, and some to Ukraine.” Civilian leaders from both countries are to visit residents in their homes, and an “impartial American media organization” will document the work. Reuters reported that Newsmax said its cameras would get “exclusive access to document the effort.”

Moscow’s account is looser. Gerasimov said fire would cease on the Kherson axis at 4 a.m. Moscow time on Tuesday, and that Russia would first carry out “engineering reconnaissance” and secure a humanitarian convoy’s route into the city, AP reported. Kremlin spokesman Dmitry Peskov said the sides were still working out a ceasefire so residents could leave, according to the Kyiv Independent. Peskov did not say whether evacuees would go to Russian- or Ukrainian-held territory, and said the evacuation would likely take several days.

The talks themselves ran through human rights officials. Dmytro Lubinets, Ukraine’s ombudsman, said he led negotiations for Ukraine and that Russia’s rights commissioner, Yana Lantratova, led them for Russia. Lubinets said the operation would be gradual and “extremely challenging to implement.” The White House release casts Melania Trump as “Exclusive Intermediary” who “initiated discussions with both nations,” but what she did in the room is not spelled out. The Daily Beast noted this week that her role in the Oleshky crisis was unclear. Kremlin aide Yuri Ushakov told reporters Putin asked envoy Steve Witkoff in St. Petersburg to pass on his “gratitude,” and Peskov said the matter came up in a recent Putin-Trump call.

Oleshky sits on the Dnipro across from Kherson. About 24,000 people lived there before the war; the White House puts the remaining population at 1,700 to 2,000, mostly elderly, with about 50 children. AP described a city with no electricity, heat or running water, scarce food and medicine for months, and mined roads out. The Kyiv Independent adds that the roads would need demining before buses could reach it. Russian forces took the city on the first day of the 2022 invasion, and the June 2023 Kakhovka Dam collapse, which an AP investigation found was likely caused by the Russian military, flooded it and killed hundreds.

Pressure had been building for weeks. The Kyiv Independent says the blockade drew appeals from Pope Leo XIV, and Ukrainian negotiator David Arakhamia thanked both the pope and Melania Trump. Ukraine has repeatedly asked for a local ceasefire to organize evacuations; as the occupying power, Russia is obligated under international law to see that civilians under its control have what they need to survive, AP noted.

Local truces in this war have often been poorly implemented, the Kyiv Independent notes, and the last one Washington announced is a warning. When Trump declared an energy ceasefire on Truth Social earlier this month, Zelensky said it was “news to me.” Zelensky said Russia hit at least six energy targets overnight after the announcement, and Trump then said both sides had violated the deal and that they agreed “because I said: ‘you agree.'”

Damaged apartment buildings in Oleshky, southern Ukraine © Courtesy of Oleksandr Prokudin/Kherson Regional Military Administration

The announcement lands amid strain between Washington and Kyiv. Trump recently waived new Russian sanctions and agreed with Russia to import diesel, AP reported, while Kyiv faces restrictions on its use of Starshield satellite internet. Zelensky, speaking at the Hudson Institute, did not mention Oleshky; he said U.S. Patriot interceptors were still on hold. Witkoff met Zelensky in Oslo before traveling to see Putin.

Melania Trump has made children caught in the war her signature issue. Last October she said she and Putin had an open channel of communication on the subject, after the president hand-delivered her letter to Putin in Alaska. Her top aide, Marc Beckman, has claimed she facilitated the reunification of 34 children with their parents, the Daily Beast reported.

Skeptics are not waiting for the paperwork. Stefan Vorontsov, a volunteer coordinator at the NGO Humanity, told the Kyiv Independent he worried about “provocations, blackmail, a route through the Russian Federation.” “I have little faith,” he said. Russia’s October 27 date arrives Tuesday; the White House’s is two days after that.

* * *

Tyler Durden
Fri, 10/23/2026 – 15:10

Rare Earth Stocks Hit 52-Week Low As William Blair Says China Supply Optimism Is “Incorrect”

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Rare Earth Stocks Hit 52-Week Low As William Blair Says China Supply Optimism Is “Incorrect”
Rare Earth Stocks Hit 52-Week Low As William Blair Says China Supply Optimism Is “Incorrect”

Our “Great Rare Earth Disconnect” note earlier this week highlighted the widening gap between elevated rare earth prices and tumbling junior miners and producers. William Blair rare-earths analyst Neal Dingmann has also weighed in on the forces driving the selloff.

“Revived rate-hike fears, hot CPI, and other macro concerns along with rare earth headline and company-specific concerns have notably hurt the largely high-beta rare earth group in recent weeks,” Dingmann wrote.

The VanEck Rare Earth and Strategic Metals ETF (REMX) has lost more than half its value since peaking in May, even as commodity prices remain strong and demand for conflict-free Chinese supplies continues. That divergence raises one key question: how much of the selloff reflects deteriorating fundamentals, and how much reflects misplaced expectations of easing supply constraints?

Dingmann wrote that investors may be overestimating the relief a thaw in US-China relations would bring.

“Specifically, many investors anticipate (incorrectly, in our opinion) cooling rare earth supply-scarcity with improved U.S./China relations ahead of the next Trump/Xi meetings in November (in China) and December (G20 in Florida),” he said. 

He continued: 

Further, investors appear to have increased liquidity concerns given heavy spending requirements against minimal near-term revenue and milestone-based government funding that for many companies has yet to be collected. 

While we continue to point to strong REE prices and potential long-term volumes, many companies are not yet benefiting from the high levels given limited current output at the mine or processing, alloy, and magnet facilities. 

While we continue to believe the insatiable demand for REE provides a strong long-term backdrop for much of the group, driving many of our Outperform ratings, we remain cautious in the near term over much of the group given the large stock price declines in many REE companies, as it adds to near-term liquidity concerns. 

We continue to favor MP Materials and Lynas Rare Earths most in the near term given the former’s attractive offtake agreements and price floors along with the latter’s limited funding needs and long-term track record. 

The firm’s basket of seven miner stocks (MP, LYSDY, AREC, IPX, NB, UAMY, and TMCR) has tumbled about 30% on average over the previous month at the time of the report. He said interest rate concerns, inflation pressures and expectations of improving US-China relations have compounded worries about spending requirements and delayed government funding. 

Lower share prices are fueling another major concern for these miners: equity financing is more costly for companies building capital-intensive mines, processing plants and magnet facilities. He warned that some of these miners could hit a “debt wall,” substantial shareholder dilution or material project delays.

What changed with investors? 

Investors appear to continue to shift their focus from upside driven by government support and strategic value toward actual production and cash flow, causing growing concerns about how capital-intensive projects will be funded at lower equity values. 

With equity prices significantly lower, raising the capital needed to fund these projects becomes increasingly dilutive, leaving companies that still require significant external funding with fewer options. 

From here, we could see a rebound if Chinese restrictions are renewed, government funding, or company-specific production milestones restore urgency to the ex-China buildout. On the flip side, another trade extension, company project delays, or funding delays could keep valuations under pressure and further increase funding risk, dilution risk, and overall company finance risk

Canaccord’s critical minerals team, led by Reg Spencer, also questioned the scale of the selloff, highlighting the disconnect between elevated rare earth prices and sharp declines across junior miner and established producer stocks.

Potential catalysts for renewed investor interest across the space include tighter Chinese export restrictions, government funding commitments and production milestones that demonstrate commercial progress. Until then, balance-sheet strength and execution remain key differentiators. Producers with operating assets and robust liquidity to fund their growth plans appear better positioned to weather the shakeout and participate in a recovery once bears are down and dragging the space down. 

Tyler Durden
Fri, 10/23/2026 – 14:55

Measles Surge In Pennsylvania Prompts New Warning

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Measles Surge In Pennsylvania Prompts New Warning
Measles Surge In Pennsylvania Prompts New Warning

Authored by Zachary Stieber via The Epoch Times,

As the measles outbreak in Pennsylvania grows larger, state officials have issued a warning regarding the impact of measles during pregnancy.

“Measles in pregnancy can lead to serious adverse maternal and fetal outcomes. The measles, mumps, and rubella (MMR) vaccine is safe and highly effective,” the Pennsylvania Department of Health said in an Oct. 19 health alert. “Getting vaccinated BEFORE pregnancy is the best way to prevent measles and congenital measles.”

More cases of measles have been recorded recently during pregnancy, and there are “rising concerns” about congenital measles, or measles transmitted to infants from pregnant mothers, the department said.

Women and teenagers in outbreak areas should receive two doses of the MMR vaccine, separated by 28 days, according to the department. Other women should be offered one dose.

Women should take care not to become pregnant for at least 28 days after receiving a shot.

The U.S. Centers for Disease Control and Prevention says that pregnant women should not receive the MMR vaccine. Pennsylvania’s guidance says the vaccine should not be administered during pregnancy.

Infants born to women who had measles are at risk for symptomatic and transmissible measles infection, Pennsylvania officials said. Infants should be isolated, monitored, and provided with immune globulin, which could prevent measles or reduce symptoms.

Infants showing symptoms within 10 days of birth, such as rash, should be tested, and treatment should include vitamin A, since vitamin A deficiency has been linked with poorer outcomes from measles, they said.

Cases Jump in State

After the alert, Pennsylvania officials said the outbreak’s case count rose to 1,317.

Thirty-one of those cases were new, according to the Oct. 21 update.

All but four of those individuals had not received a vaccine, according to the Pennsylvania Department of Health.

Five people who contracted measles have died. That includes at least one death that a coroner deemed unrelated to measles.

A one-year-old is held by his mother while he receives a measles vaccine at a clinic in Lubbock, Texas, on March 1, 2025. Jan Sonnenmair/Getty Images

The CDC lists three of the deaths on its website. The CDC said the number may change as it reviews information it has received.

The CDC is also working with a group of epidemiologists to develop a case definition for deaths due to measles.

Nationwide, there have been 4,410 measles cases this year, 96 percent of which have occurred in people who are unvaccinated or have unknown vaccination status. Ten percent of the patients have been hospitalized.

Vaccination Effort

About 300 state workers are teaming up with community organizations and health care providers to combat the outbreak by providing factual information and access to the MMR vaccine, the Pennsylvania Department of Health said.

State workers have administered more than 6,300 shots across hundreds of pop-up clinics since the outbreak started in April. They’ve administered more than 3,700 shots in other venues this year.

Healthcare workers are reporting increased interest in the vaccine.

They usually administered about 25,000 doses a month. In September, more than 56,000 doses were injected, and through the first three weeks of October, 39,000 doses have been administered.

The vaccine is estimated to provide 97 percent protection after two doses. Side effects include fever and rash.

Tyler Durden
Fri, 10/23/2026 – 14:40

Gen X And Boomer Progressives Are Conditioned To Support Open Borders

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Gen X And Boomer Progressives Are Conditioned To Support Open Borders
Gen X And Boomer Progressives Are Conditioned To Support Open Borders

Authored by Andrew Devine via The Daily Sceptic,

Left-leaning Boomers (born 1946-1964) and Gen Xers (born 1965-1980) view any criticism of 21st century mass immigration through a particular cultural and psychological lens that is outdated and a barrier to having a constructive debate about extremist mass immigration policies in the here and now.

Left-liberal ‘progressives’ who grew up or were young adults between the 1960s and 1990s were socially and culturally conditioned to believe that any criticism of immigration policies is synonymous with racial hatred. This is because in the eras when they grew up many of the people who opposed the much more limited immigration of those decades were openly racist. This is why it’s almost impossible to have a nuanced discussion with ‘progressive’ Boomers or Gen X about the issue of mass immigration and get them to address the reality of resource constraints caused by excessively high numbers, or how certain immigrant groups like Indian Sikhs or Middle Eastern Christians are a better cultural fit with British and European people than say an Afghan Taliban supporter or an Islamic supremacist from Somalia who openly promotes Female Genital Mutilation as beneficial to society.

The moment a Boomer or Gen X Leftist open borders advocate is faced with anyone critical of 21st century mass immigration policies (which are radically more open than the immigration policies of the 1950s-1980s) all they see and hear in their mind’s eye is some frothing at the mouth National Front extremist skinhead from the 1970s or 1980s who believes there shouldn’t be a single brown or black face on the island of Britain. Unless you can break through that cultural and psychological conditioning regarding the issue of immigration, it’s impossible to have a constructive debate with ‘progressive’ Gen Xers and Boomers on the issue. While you’re trying to have a nuanced discussion on the issue of mass immigration, Left-liberal Boomers and Gen Xers are having a Pavlovian response.

In order to understand the psychology of Gen X and Boomer British ‘progressives’ further, it’s important to understand that we are the generations who grew up listening to music that transcended cultural and racial lines. We grew up listening to Motown and Philly Soul from black America along with black musical giants like Prince, Michael Jackson or James Brown, while even all-white bands like the Rolling Stones, the Beatles, the Who and later U2 paid homage to the black R&B artists who inspired them. In the late 1970s and early 1980s, the 2-Tone music label fused white British Punk Rock with Jamaican Ska and Reggae and the label’s multi-ethnic bands such as the Specials topped the charts. It was the norm for us to see black, brown and white musicians in bands together. For those who love football, many black footballers born and bred in England and even Ireland were viewed as belonging to the country as much as any white player. This inclusive ethos that was prevalent in the 1970s and 1980s that emphasised black, white and brown kids uniting in a love of music, fashion and football was all very laudable and it helped foster a cultural norm where genuine racism came to be viewed as anathema by most of the public.

However, the inclusiveness of the 1970s and 1980s led many of the people who adopted this mindset to adopt a very simplistic and shallow minded approach to the issue of immigration which is now influencing how we discuss the very different phenomenon of mass immigration in the 21st century. The Gen X or Boomer ‘progressive’ erroneously conflates criticism of any non-white, non-European culture with racism which in turn has led to the idea that to oppose unrestricted flows of people with darker skin from all of the world’s non-white cultures is synonymous with white supremacy. This is the mindset that has dominated most of the British media and cultural establishment for decades. It shapes everything from how certain news items are reported (or not reported). It explains why TV dramas include the over representation of ethnic minorities even in periods and locations in British history where everyone was white along with the incongruous shoe-horning of radical-Leftist dogma into so much modern entertainment.

It must be infuriating for decent, law-abiding Caribbeans, African Christians and Indians who came to the British Isles many decades ago and are patriotic and well-integrated to be lumped in with Islamic supremacists coming from Afghanistan or Somalia just because they’re all non-white. Leftists are so obsessed with skin colour and viewing 21st century mass immigration through the racial politics of the 1970s and 1980s that it blinds them to genuine cultural incompatibilities of certain immigrant groups as well as security threats and resource constraints that result from the 21st century open borders fiasco.

One aspect of the current debate about what it means to be British that needs to be acknowledged is that it was only possible for Caribbean or Indian migrants who came to Britain in the 1950s and 1960s to become culturally British because there was a majority white British population and culture with which to integrate. If you make whole areas of cities non-native British, and especially if those areas become dominated by Islamic supremacists, then there is no native culture for people to integrate with. Civic nationalism can only work when the indigenous people remain the dominant majority and immigrant groups come from compatible cultures who aspire to integrate with the host population.

Boomer and Gen X ‘progressives’ need to wake up to the fact that it’s not the mid to late 20th century anymore. They need to have debates on mass immigration in the 21st century on the conditions and terms of the 21st century. Today’s mass immigration is not comparable to the limited migration of the 1950s through to the 1980s. Those of us with centrist or small c conservative views on immigration, including many patriotic ethnic minority citizens, agree with ‘progressives’ that racism is wrong. Where we disagree with them is how they’ve extended that term and redefined it beyond its original meaning to the point of utter absurdity.

There is nothing racist about effective border controls or wanting manageable levels of immigration that consider resource constraints and security risks. There is nothing far Right about believing that the native peoples of the British Isles (the English, Scottish, Welsh, Irish and Northern Irish) should remain the majority in these islands and that only cultures that are compatible with ours should be invited to live amongst us. If we forget that, then the national and regional cultures that have shaped the British Isles will disappear.

Andrew Devine is a 2010 Orwell Prize winning blogger and author of Generation F (under the pseudonym Winston Smith). Former radical Leftist. Fully recovered. He blogs on his Substack page, the Devine Message, where this article first appeared.

We publish a variety of perspectives. Nothing written here is to be construed as representing the views of ZeroHedge.

Tyler Durden
Fri, 10/23/2026 – 13:25

Supreme Court Allows New Hampshire To Bar Student IDs At Polls For Midterms

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Supreme Court Allows New Hampshire To Bar Student IDs At Polls For Midterms
Supreme Court Allows New Hampshire To Bar Student IDs At Polls For Midterms

Authored by Matthew Vadum via The Epoch Times,

The Supreme Court sided with New Hampshire Republicans, allowing officials to stop accepting student ID cards as valid proof of identity for voting.

The high court cited the Purcell principle, which guards against changes to election rules close to Election Day.

The court’s decision took the form of an unsigned opinion issued late on Oct. 22.

Justice Ketanji Brown Jackson dissented.

The Supreme Court here applied the so-called Purcell principle against last-minute judicially ordered changes to election rules.

A state law known as HB 323 forbids the use of student IDs as valid proof of identity when voting. New Hampshire Secretary of State David Scanlan issued guidance directing election clerks not to accept student IDs as a backup form of identification.

A group called the Coalition for Open Democracy challenged both the state law and the directive in federal court. The group’s attorneys argued that the law ran afoul of both the U.S. and New Hampshire constitutions and discriminated against young voters on the basis of age. They also argued Scanlan exceeded his lawful powers as secretary of state.

Earlier this month, U.S. District Judge Joseph Laplante denied the group’s request to bar enforcement of HB 323, but temporarily blocked Scanlan from advising election clerks that student IDs were never acceptable. Days later, the judge extended his order to cover public statements to that effect made by Scanlan. Together, the two orders meant clerks had to keep treating a student ID card as possible backup proof.

In its emergency application to the Supreme Court, the state argued that the district court’s order came a mere 32 days before the general election, and that this goes against the Supreme Court’s rulings, which have repeatedly held that lower federal courts should not “intervene in state election procedures in the lead up to an election.”

The justices stayed Laplante’s orders.

“This Court has repeatedly emphasized that lower federal courts should ordinarily not alter the election rules on the eve of an election,” the justices wrote, citing a 2020 precedent. “Here, the District Court did not point to anything that would justify deviating from that principle.”

In her dissent, Jackson said Laplante had determined that it was necessary to correct Scanlan’s “publicized misstatement about what New Hampshire’s election rules require.”

The injunction issued by the district court, Jackson said, “was reasonably designed to address alleged misinformation, not to change the law.”

“An injunction to prohibit that conduct does not contribute to public confusion, it prevents that very problem,” she said. “I would not disturb a clearly justifiable federal-court order issued to ensure that the public receives accurate information about a State’s electoral processes.”

New Hampshire Attorney General John Formella hailed the Supreme Court’s ruling.

“New Hampshire has a responsibility to protect the integrity of its elections and ensure that election laws are applied as written,” he said in a statement.

“The Supreme Court’s decision is an important victory for our efforts to defend those laws and prevent last-minute court orders from creating uncertainty for voters and election officials.“

The Coalition for Open Democracy criticized the high court’s new ruling, calling it “wrong” and a misinterpretation of the Purcell principle.

“We applaud Justice Jackson for her dissent, in which she stands for the Constitution, the right to vote, and a rational application of Purcell,” the group said in a statement.

“We will continue to vigorously litigate this case in the defense of the fundamental right to vote of young voters across New Hampshire.”

The Supreme Court’s order remains in effect through the Nov. 3 general election, while the case continues on appeal in the lower courts.

Tyler Durden
Fri, 10/23/2026 – 12:55

Major Oil Spill From Attacked Tanker Forces Closure Of UAE Beaches

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Major Oil Spill From Attacked Tanker Forces Closure Of UAE Beaches
Major Oil Spill From Attacked Tanker Forces Closure Of UAE Beaches

Amid the record pace in Iranian attacks on crude tankers in the Strait of Hormuz, many have been wondering: where does all that oil end up when it comes to severely damaged or sunken tankers?

On Friday the UAE has confirmed a deeply alarming event: some of its beaches are being shuttered as a major spill is washing up after a tanker was struck by a projectile off the UAE coast, resulting in a fire aboard the vessel and apparent major spillage. The attack incident happened earlier in October.

Regional media, illustrative

Authorities have “detected a tanker oil spill affecting Umm Al Quwain’s beaches,” the Ministry of Climate Change and Environment announced in a statement.

It confirmed that the emirate in question was forced to close its beaches, and that “teams immediately began containment, cordoning, clean-up and remediation… to limit environmental impacts.”

International reports have identified that the leak resulted from the Oct.9 incident involving the GEM NO.2 tanker, which had been detailed by the UKMTO

“Gem No. 2, was hit by a projectile Friday off the coast of the UAE resulting in a fire onboard. The ship departed Ras Tanura, Saudi Arabia, in March and has remained in the Persian Gulf since the war began,” as reported at the time.

The last week saw increasing complaints by beach area residents of unusual smells – reports that were initially brushed off by local authorities. One regional Gulf outlet documents the following timeline:

October 19: Unusual smells reported

Reports of unusual odours emerged on Monday, October 19, in Sharjah and other parts of the UAE.

The reports prompted authorities to begin monitoring the situation in coordination with federal and local government agencies.

Authorities conducted inspections and assessments to identify the source of the smells and determine whether they posed any risk to residents.

October 20: Sharjah Police reassure residents

Lieutenant General Abdullah Mubarak bin Amer, Commander-in-Chief of Sharjah Police, addressed public concerns during the Direct Line programme broadcast on Sharjah TV and Radio.

He said the situation was safe and stable, with no indication of a threat to public health or safety.

October 21: Environment ministry provides initial findings

The Ministry of Climate Change and Environment confirmed that it was coordinating with local authorities to investigate unusual odours detected in several areas.

The ministry said its assessments found no cause for concern.

Field monitoring and response efforts were continuing to reduce the odours and help them dissipate.

But then by Friday the oil spill impacting beaches was belatedly confirmed. This came long after oil-like smells began to inundate local social media, and government office call centers.

The emerging environmental disaster also impacts the local fishing industry, and boats have been advised to steer clear of the area until a full environmental assessment can be done. Given that the Iranians have recently stepped up their attacks on shipping in the region, more such disasters could soon unfold.

Tyler Durden
Fri, 10/23/2026 – 12:40

Harvard Medical School Holds Panel Raising Whether Weight Loss Drugs Are An Imperialistic, Militaristic Plot

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Harvard Medical School Holds Panel Raising Whether Weight Loss Drugs Are An Imperialistic, Militaristic Plot
Harvard Medical School Holds Panel Raising Whether Weight Loss Drugs Are An Imperialistic, Militaristic Plot

Authored by Jonathan Turley via JonathanTurley.org,

Harvard University is facing another controversy after its medical school held an event on “the Pathology of Unruly Bodies.” The most surprising part is that it was not a reference to the Harvard faculty itself. Rather, a panel composed of non-medical experts was railing against anti-obesity drugs as part of “indoctrination” to support the ills of “empire and imperialism.” Welcome to the state of higher education in America.

The panel was devoid of actual medical experts. It was dressed up in medical terms with the use of the word “pathology.” It could have easily been billed as “GLP-1 Anti-Body.” The panel included such experts as Da’Shaun L Harrison, who recently drew notoriety for claiming at the Socialism 2026 conference in Chicago that GLP-1 medications constitute “genocide” against fat people.

Another headliner was Roxane Gay, the Gloria Steinem Endowed Chair in Media, Culture, and Feminist Studies at Rutgers University – New Brunswick and the artist-in-residence at Harvard Medical School. Professor Gay (the cousin of former Harvard University President Claudine Gay) had called for the release of Luigi Mangione, who murdered Brian Thompson, the CEO of UnitedHealthcare, two years ago.

Despite her extremism and penchant for murderers like Mangione, Gay writes for the New York Times and apparently likes to flip off people in public. Harvard decided she was exactly what they needed to help shape their medical students. She is part of the radical chic of higher education, where no views are too far left (while departments purge conservatives and libertarians).

Harrison quickly picked up where she left off at the Socialist Convention with bizarre claims. Rather than claiming that drug companies were engaging in the genocide of fat people with weight-loss drugs, she explained that the companies were really militarizing an imperialist state: “This practice of forcing people into manipulating and changing or shifting how they look is oftentimes about making bodies militarisable. Building up a military to defend an imperialist state.“

She further claimed:

“A lot of doctors, medical professionals and folks who collaborate with them – be it through the government or media – are advocating for atrocities that are directly impacting our citizens, but also citizens around the globe.

It then becomes about creating this ideal body that you are always being pushed and pulled towards, as a way to represent this patriotism that is intended to indoctrinate one into the military, into the defense of the country.”

The suggestion that weight loss is an imperialist militaristic plot is obviously bonkers. It is the kind of raving you would expect on a subway from someone wearing a handmade cardboard sign and a tin foil hat.

However, Harvard Medical School views that person as a serious expert on the pathologies of weight loss.

Notably, not a single Harvard faculty member expressed unease over the programming. Medical students are facing an array of tough technological and economic conditions. Yet, the administration wants them to sit through far-left indoctrinations from the likes of Gay and Harrison.

Harvard is not alone. Various medical schools have incorporated radical social agendas into their curricula or events. We recently discussed how UCLA Medical School held a panel on which psychiatrists defended self-immolation in protesting Israel. In an earlier post, we discussed a mandatory lecture at UCLA of one of the university’s “activists-in-residence” replete with anti-Semitic postings and racist rhetoric.

The hiring of figures like Gay and the radical programs at these schools show that faculty have little intention to change the ideological echo chamber in higher education. It is truly a pathology of unruly bodies.

Jonathan Turley is a law professor and the New York Times best-selling author of “Rage and the Republic: The Unfinished Story of the American Revolution.”

Tyler Durden
Fri, 10/23/2026 – 12:25

Trump Calls For Rep. Ilhan Omar’s Resignation Over Alleged Fake Name

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Trump Calls For Rep. Ilhan Omar’s Resignation Over Alleged Fake Name
Trump Calls For Rep. Ilhan Omar’s Resignation Over Alleged Fake Name

Authored by Aldgra Fredly via The Epoch Times,

President Donald Trump on Oct. 22 urged Rep. Ilhan Omar (D-Minn.) to resign from her congressional role over allegations that she used a fake name to enter Congress.

This followed a motion filed by U.S. Attorney Jeanine Ferris Pirro on Oct. 21 that referred to Omar as “Ilhan Nur Said Elmi, a/k/a Ilhan Abdullahi Omar.” The filing was related to a federal search warrant for the congresswoman’s home.

“It was just revealed that Ilhan Omar’s name is not Ilhan Omar, the one she used to get elected and sworn into Congress, but rather, it’s an entirely different name, Ilhan Nur Said Elmi, and that her last name is, incredibly, also the exact name of her brother, Ahmed Nur Said Elmi, the person they said she married and had children with,” Trump said in a post on Truth Social.

Omar addressed allegations she married her brother during a recent interview with MS NOW’s Chris Hayes, calling the claims insane. When asked whether any of the allegations had a “kernel of truth,” she answered: “Not to my knowledge.”

“Somebody put in there that, you know, he had to have been my brother or something to that effect,” she said in the interview, adding that it started on a Somali blog, without elaborating.

Omar has been married to Tim Mynett since 2020.

Trump said Omar should resign from Congress immediately, adding that she would “not be legally allowed” to remain a member of Congress from this point forward because she used “a fake name to be sworn in.”

“When asked whether or not she married her brother, she said, ‘Not to my knowledge.’ In other words, she somehow didn’t know?” Trump said.

Omar’s spokesperson did not respond to a request for comment.

Omar, a native of Somalia, moved to the United States with her family in the 1990s amid a civil war. She became a state representative in Minnesota in 2017, and a U.S. representative in 2019.

Federal agents searched the congresswoman’s home in Washington on Oct. 12 as part of a criminal probe into allegations of possible immigration fraud. Federal officials have provided few details about what led to the investigation.

Omar, who is seeking a fifth term in the House of Representatives in the midterm elections, has strongly denied immigration fraud allegations.

House Democratic leaders have said that the search was politically motivated and criticized the Trump administration, noting the timing shortly before the Nov. 3 midterms.

“Now, less than 30 days until the midterm election, his violent mass deportation machine has descended upon the home of a duly elected Member of Congress and her family,” House Minority Leader Hakeem Jeffries (D-N.Y.) said in a statement.

Border czar Tom Homan told Fox News on Oct. 17 that investigators have a strong case in their ongoing probe of Omar.

He indicated that Omar could be stripped of her U.S. citizenship and deported if the immigration fraud allegations against her are proven to be true.

“Of course, if you lie during the naturalization process, there is a process to denaturalize somebody. We’ve done it before. It’s a long, tedious process, but it’s been done before,” he said.

Tyler Durden
Fri, 10/23/2026 – 10:40

Tech Layoffs Surge As Corporate America’s AI Blitz Raises Fears The Worst Is Yet To Come

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Tech Layoffs Surge As Corporate America’s AI Blitz Raises Fears The Worst Is Yet To Come
Tech Layoffs Surge As Corporate America’s AI Blitz Raises Fears The Worst Is Yet To Come

Bloomberg story counts featuring terms such as “job cuts,” “layoffs,” and “firings” jumped Thursday to their highest level since early May.

The surge in AI-related layoff announcements shows corporate America is ramping up efforts to reduce its workforce and replace humans with chatbots and other AI-related technologies to drive efficiency.

The latest headlines span American Express on Friday morning, Barclays on Thursday, and eBay and Netflix in recent days and weeks.

Separately, Yahoo Tech’s Katie Teague and Valentina Palladino cite data from job tracker TrueUp showing that tech companies have cut more than 190,000 jobs this year. 

The cuts in the technology space build on the 245,000 layoffs across the sector last year.

Some of the most notable cuts this year have come from Oracle, which eliminated 21,000 jobs over the past year, roughly 13% of its workforce. Oracle linked workforce reductions to its deployment of AI.

“The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce,” Oracle said.

Microsoft’s latest round affected 4,800 jobs, primarily in its Xbox gaming division. That followed 14,000 tech job losses in June across companies including Lucid, Bungie, and Robinhood. Samsung, Zillow, and even TikTok have pushed forward with job cuts. 

The list of tech job losses below highlights increasing pressure on companies to reduce their total workforce and adopt AI and restructure operations, a trend that could accelerate into the new year: 

October 2026

eBay

eBay will reportedly cut 9% of its workforce in an effort to streamline operations. The latest job cuts come after a previous round of layoffs back in February, which affected about 800 positions. “As we work to capture the significant opportunity ahead, this step was taken to ensure we continue to operate from a position of strength by aligning our teams and resources with our top strategic priorities,” an eBay spokesperson said in a statement.

Electronic Arts (EA)

Video game publisher EA will eliminate 400 jobs, or about 3% of its workforce. This includes shutting down BioWare, the development studio behind the Mass Effect games. The next Mass Effect title will be canceled as a result of the layoffs. These job cuts come after EA told investors earlier this year that it would reduce research and development costs as part of a plan to save upward of $700 million.

Netflix

According to a report in The Wall Street Journal, Netflix will lay off about 1,000 people, accounting for about 6% of its global workforce. The report says the bulk of the layoffs will affect Netflix’s “product, tech, legal and human-resources teams.” This latest round of layoffs is the biggest for the company since 2022, and it comes as Netflix struggles to increase customer engagement and overall growth.

Airtable

A “large part” of the Airtable team was laid off on October 12. Federico Simionato, Airtable owner Bending Spoons’ product leader, said on X that the layoffs were not due to the workers’ abilities but rather to the company’s “deep belief that small teams ship more and better.” The exact number of employees affected by the layoffs wasn’t disclosed.

Amazon

Amazon has reportedly laid off “fewer than 1,000 white-collar workers” in its stores division. That’s the part of the company that oversees the tech giant’s e-commerce website. Employees in the U.S., India, and the United Kingdom were reportedly affected.

Workday

Workday will lay off around 140 employees in the Bay Area as part of an effort to trim its tech team. The cuts come as part of a broader plan to cut the company’s global workforce by 2.5%.

September 2026

Xbox

Xbox announced it had eliminated 268 roles across Halo Studios, other first-party studios, and additional areas of the Xbox Game Studios division. These layoffs are part of a “reset” it announced this summer; the company had already laid off 1,600 people in July and said at the time that an additional 1,600 terminations were still to come.

Apple

According to a Bloomberg report, Apple has laid off an undisclosed number of employees from Fitness+, the company’s exercise subscription service. According to the report, the layoffs affected those who worked on the audio side of the division, which includes features like Time to Walk and Time to Run guided audio workouts. Reportedly, offerings like these will be reduced but not eliminated completely from the service.

Oracle

Oracle employees were impacted by yet another round of layoffs in September. The total number of employees laid off this time around is not currently known. The tech giant reportedly sent employees early-morning emails on Monday, September 14, letting those affected know it would be their last working day. It’s also reported that, with these layoffs, Oracle is looking to offset the amount of money it is pouring into AI chips and data centers. Earlier this year, Oracle laid off 21,000 people.

Uber

Uber announced it will cut 3,300 jobs, or about 10% of its workforce, in a big restructuring effort. “We are removing layers, simplifying team structures, refining our global location strategy, and focusing our people and investments against the biggest opportunities ahead of us,” CEO Dara Khosrowshahi said in a statement. While the cuts apply to both regular employees and managers, the company stated it will reduce the “number of employees who sit 7+ layers from the CEO” by 20%, and it will cut the number of “micro-teams” by almost 50%. The CEO’s memo did not mention AI as a catalyst for the layoffs, but it did explain that this restructuring will allow Uber to bring its services to more people, invest in more drivers and merchants, and “build the autonomous future.”

August 2026

Apple

According to an AppleInsider report, Apple laid off at least 60 people in its Vision Group, which is the team responsible for the Vision Pro VR headset. A Bloomberg report notes that Apple is also eliminating roles in its Intelligent Systems Experience group, which is partially responsible for some of the AI systems on Apple devices. Overall, it’s estimated that the layoffs affect more than 200 people.

When it comes to the Vision Group and Vision Pro, it’s been reported that incoming CEO John Ternus would be putting that product category “on ice,” so this seems like the start of that process. The Vision Pro headset came out in 2024 with an eye-watering $3,699 starting price, and it remains to be seen if Apple will be pulling out of the AR/VR category entirely in the future. The Intelligent Systems changes are reportedly tied to necessary changes in the technical architecture of Apple’s newly AI-infused Siri.

TikTok

The New York Times reported that TikTok will lay off 250 people and close its Nashville, Tennessee, office in October. This location was home to some of TikTok’s content moderation team, although the company has not specified the reason for the layoffs or which teams they primarily affect. “We have decided to close our Nashville office to streamline our operations and better align our teams for long-term growth,” a press officer for what is known as the TikTok U.S.D.S. Joint Venture said in a statement to the Times.

Zillow

Zillow will lay off just over 500 people as it enacts organizational changes across the company. “These are difficult decisions that reflect both the strides we’re making in our strategy and the reality of what is required of us to grow at scale,” CEO Jeremy Wacksman wrote in a press release. Wacksman didn’t go into detail about what organizational changes were made or which departments are bearing the brunt of the layoffs. “These changes are about ensuring we have a disciplined cost structure and getting more efficient, with the right people in the right positions,” he wrote.

Etsy

Etsy laid off about 220 people, or 12% of its workforce, as it attempts to simplify its organizational structure. The cuts primarily affected the product and engineering teams, and Etsy CEO Kruti Patel Goyal said that the layoffs were necessary to build “the organization we believe Etsy needs for the future.” An Etsy spokesperson told CNBC that the cuts were not driven by artificial intelligence adoption.

July 2026

Microsoft

Microsoft has begun another round of layoffs that affects 4,800 jobs, or around 2.1% of its workforce. The Xbox division is getting hit the hardest, with 3,200 roles getting cut through fiscal year 2027, Xbox chief Asha Sharma said in a post on X. A total of 1,600 people were let go on July 6. Shortly after those layoffs were revealed, it was announced that Sharma was appointed to a U.S. Federal Reserve task force to help advise it on “productivity and jobs.” Other appointees include Marc Andreessen of Andreessen Horowitz and Charles I. Jones, professor of economics at Stanford University.

Intel

Intel is reportedly downsizing its data center group, despite strong performance. The company hasn’t disclosed how many roles would be affected.

Visa

Visa will cut about 2,600 jobs, which amounts to about 7% of its workforce. The layoffs will primarily affect the technology and product teams, and the impetus, in part, is to make the company more efficient. “To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” Chief Executive Officer Ryan McInerney wrote in a memo. “AI is also helping to accelerate this evolution and shape the way work gets done at Visa.” But according to Bloomberg’s report, AI was not the only factor to influence Visa’s decision to carry out these layoffs. The company reportedly intends to reinvest in things like consumer payments and value-added services such as stablecoins.

Monday.com

Software company Monday.com will lay off 20% of its workforce, which comes out to about 630 people. This comes as the company makes a pivot to AI and is attempting to make its AI platform a core offering of its business. Earlier this year, it designed its main product around the idea that business customers increasingly want their employees to work with AI agents.

Patreon

Patreon laid off 20% of its workforce, or 93 people, as part of what it described as “changing our organizational structure and how we work.” But Patreon was explicit in its email to creators and staff that “we are not making the above changes because we believe AI replaces humans.” However, the email also said, “AI has fundamentally transformed the tech industry, though, including how we work.”

Uber

Uber has reportedly laid off 10% of its customer service division, according to a Bloomberg report, as it looks to “embrace artificial intelligence” and simplify its ranks. The company also stated in May that it would slow hiring as it makes greater internal use of AI.

Samsung

Samsung is eliminating 179 jobs as it moves its New Jersey headquarters to Texas later this year. The move is expected to impact around 1,000 workers. We’re now getting a fuller picture of what that looks like: according to Reuters, 739 roles at Samsung’s New Jersey location have been affected in some way. Some employees have been offered relocation packages as the company shifts its headquarters to Texas, while others have been let go. In addition, it’s reported that 100 employees at its Texas location, primarily in the mobile division, have also been let go.

Amazon

Amazon will lay off some people in its artificial general intelligence group, although the company has not disclosed how many roles will be affected. “This is a fast-moving space, and we’re sharpening our focus on the initiatives that matter most for customers, so we can move faster on what counts,” an Amazon spokesperson told CNBC.

June 2026

Bungie

Sony Interactive Entertainment released a statement saying it’s cutting “a significant number of employees” from its Bungie workforce. That includes most of the Destiny team and some Marathon team members, as well as SIE teams that support Bungie’s operations. The email didn’t say how many employees were affected.

Lucid

Electric vehicle maker Lucid announced it’s cutting around 18% of its workforce and also noted that COO Marc Winterhoff is leaving the company, Reuters reported. The layoffs are in an effort to “boost profitability amid growing competition.” The cuts affect full-time employees, contractors, and hourly manufacturing workers.

Rackspace

Cloud computing services company Rackspace laid off 750 workers, or around 15% of its workforce. The cuts are driven by a shift in focus toward AI.

Rivian

EV company Rivian let go of hundreds of employees, which amounts to around 2% of the company’s workforce, The Wall Street Journal reported. Those affected were part of Rivian’s service and customer organization, which handled marketing and sales.

Robinhood

Trading platform company Robinhood is planning to lay off 10% of its staff to restructure, the Robinhood Comms account said on X. That amounts to around 290 jobs. It’s unclear if the layoffs are AI-related, but CEO Vlad Tenev noted the company will be “utilizing frontier technologies to push our execution even further.”

Salesforce

Salesforce laid off at least 86 employees in California, though Business Insider sources say job cuts also occurred in Washington and outside the U.S.. The cuts reportedly affect employees involved with Salesforce’s Agentforce AI product, MuleSoft IT integration tool, and Marketing Cloud software.

May 2026

Groupon

Groupon is planning to lay off roughly 25% of its workforce, which will result in 400 job cuts. Those positions are expected to be eliminated by the end of the third quarter. This is in an effort to restructure the company and rebuild it as an AI-native company.

Wix

In another set of AI-related layoffs, website builder Wix said it was cutting around 20% of staff. Wix co-founder and CEO Avishai Abrahami announced the cuts on X, pointing to the changes AI is bringing to the industry and stating, “we need to become a faster, leaner, and flatter organization.” He also put part of the blame on the Israeli shekel-to-U.S. dollar exchange rate, which affects the company because it’s based in Israel. The cuts are expected to impact around 1,000 roles, based on Wix’s headcount.

Webflow

Webflow, a website builder and hosting company, conducted a round of layoffs that an employee called “a bloodbath” in a statement to the San Francisco Chronicle. It’s unclear how many employees were impacted, but one anonymous developer from the company told the Chronicle they believed it was larger than Webflow’s last major round of layoffs, which affected 8% of its workforce in 2024. As with other recent layoffs, it looks like a shift to AI is to blame here. “AI is rewriting the rules for how marketing teams create, test, and optimize digital experiences,” CEO Linda Tong said in a statement. “And the companies that move decisively through moments like this are the ones that come out ahead.”

ClickUp

ClickUp CEO Zeb Evans announced that the company cut 22% of its workforce as it turns toward AI to improve productivity. He claimed it “wasn’t about cutting costs,” but about funneling savings from the cuts “directly back into the people who stay.” The company has introduced million-dollar salary bands reserved for employees who “create outsized impact using AI.”

Intuit

Intuit is planning to lay off 3,000 employees, or about 17% of its workforce, Reuters reports. CEO Sasan Goodarzi sent a memo to employees noting the layoffs would help the company’s efforts to infuse AI across its services.

Meta

Meta has officially begun cutting 10% of its workforce, totaling around 8,000 employees. In addition, it plans to close 6,000 open roles. The reason is to allow more room for AI spending.

NPR

Like Microsoft, NPR is offering voluntary buyouts to 300 employees in the newsroom, but only 30 will be accepted. However, if the news organization doesn’t reach its target number of buyouts, it will conduct targeted layoffs. The cuts are due to the loss of federal funding.

Amazon

The online retail giant cut more jobs this month, this time from the Selling Partner Services organization. These new layoffs come after Amazon cut roughly 30,000 jobs in rounds in October and January. A spokesperson told Business Insider that the most recent layoffs have affected a “small number” of employees. The Selling Partner Services team works with third-party merchants on Amazon, providing onboarding, logistics, and account management support.

Cisco

Cisco is cutting just under 4,000 jobs in Q4, CEO Chuck Robbins said in a blog post. Impacted employees will receive prorated payments of their 2026 bonuses and will also receive “support in finding new opportunities” via Cisco’s placement services. In June, it was confirmed that the layoffs include 471 workers in the Bay Area.

“While we are reducing roles in some areas, we are making clear, strategic investments, particularly in silicon, optics, security, and in our employees’ use of AI across the company,” Robbins said.

LinkedIn

LinkedIn is planning to lay off 5% of its staff, which is around 875 employees, Reuters reports. An anonymous person told Reuters the reason is to reorganize teams and focus employees on areas where its business is growing. However, one of the sources said the reason was “not for artificial intelligence to replace jobs at LinkedIn.”

General Motors

GM is letting go of around 500 to 600 employees in the information technology sector, Bloomberg reports. The reason is to “trim costs and clear the way to bring in staff with skills in other technology areas.”

Cloudflare

Due to restructuring driven by AI, Cloudflare is laying off more than 1,100 employees. “Today’s actions are not a cost-cutting exercise or an assessment of individuals’ performance; They are about Cloudflare defining how a world-class, high-growth company operates and creates value in the agentic AI era,” Prince and President Michelle Zatlyn said in an email to employees.

PayPal

PayPal is planning to cut around 20% of its staff, or nearly 4,800 employees, over the next few years, according to The Wall Street Journal. “First, we will remove duplication and layers from our organizational structure. Second, we will accelerate our AI adoption and automation across our operations,” CEO Enrique Lores said to investors.

Coinbase

Cryptocurrency platform Coinbase is laying off 700 employees, which amounts to around 14% of its staff. CEO Brian Armstrong cites current market conditions and AI-driven changes in how the company works as reasons for the layoffs.

April 2026

Microsoft

Microsoft is offering a first-ever buyout to up to 7% of its employees, CNBC reports. It’s a one-time retirement program that’s available for workers at the senior director level and below whose combined age and years of employment total 70 or more.

Nike

Nike announced it’s laying off 1,400 people this week. “Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” COO Venkatesh Alagirisamy said. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”

Amazon

Amazon is planning to temporarily close a warehouse in Homestead, Florida, which will eliminate more than 600 jobs, Newsweek reports. The job cuts will start in July and continue through September, but the company is giving employees the option to relocate to other facilities. The warehouse has only been open for just under two years, but Amazon is already looking to update the site.

Redwood Materials

Battery recycling company Redwood Materials laid off 10% of its employees, totaling 135 people, TechCrunch reports. Those who were let go received an email from the chief HR officer telling them the layoffs were made “to sharpen our focus, our work and the size of our teams to support the direction Redwood is going in the future.”

Snap

Snap is laying off 1,000 workers, which is 16% of its staff, Variety reports. The Snapchat parent company made the announcement just weeks after Irenic Capital Management asked the company to make changes to improve performance and revenue.

Snap is using AI to streamline operations and assist the now-smaller workforce. “We have already witnessed small squads leveraging AI tools to drive meaningful progress across several important initiatives,” Snap CEO Evan Spiegel said.

Disney

Just two months after taking over as CEO of Disney, Josh D’Amaro announced the company is laying off 1,000 of its employees, AP News reports. In addition, Marvel let 8% of its staff go after the call was made.

“Over the past several months, we have looked at ways in which we can streamline our operations in various parts of the company to ensure we deliver the world-class creativity and innovation our fans value and expect from Disney,” D’Amaro said in a memo to employees. “Given the fast-moving pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow’s needs.”

GoPro

The wearable camera maker will eliminate 145 positions this year due to a restructuring plan to cut costs, The Wall Street Journal reported. The cuts are expected to last until the end of the year.

Vimeo

Vimeo is going through its third round of layoffs since it was acquired by Bending Spoons. This time, the company let go of more than 120 people, which is about 25% of its city staff.

Meta

It’s been reported that 200 Meta employees in the Bay Area will lose their jobs at the end of May. That includes 124 employees in Burlingame and 74 in Sunnyvale. The company last laid off workers just a few weeks ago.

March 2026

Oracle

Oracle has begun implementing a big cull of its employee base. On the final day of March, more than a dozen Oracle employees announced on LinkedIn they had been let go from their jobs, Business Insider reports. It’s unclear at this time how many workers were affected, but it was projected to be thousands at the start of this month.

Those laid off received the same email: “After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a broader organizational change.”

The job cuts are reportedly to help Oracle stem a cash drain related to its expenditures on AI infrastructure. In June, Oracle revealed that it had laid off 21,000 people as part of the cuts.

Eidos-Montréal

Deus Ex studio Eidos-Montréal announced on March 30 that it’s laying off 124 people. In response, studio head David Anfossi has decided to leave the company.

The cuts are a result of “changing project needs and impacts across production and support teams,” the gaming company said in a LinkedIn post. It also noted that the decision to lay off these employees is not related to their talent or performance.

T-Mobile

After already having layoffs in January, T-Mobile has cut even more of its workers, GeekWire reports. It’s unclear how many people were laid off at this time, but it could be in the hundreds.

“To move even faster in a dynamic market while continuing to deliver best-in-class digital experiences for our customers, we’re further aligning our IT organization to support future growth and innovation… This includes the difficult decision of eliminating some roles while continuing to invest and hire in areas,” T-Mobile told GeekWire in a statement.

Meta

Meta began laying off hundreds of employees on March 25, totaling around 700 people, per The New York Times. Those impacted were part of the Reality Labs team, as well as social media and recruiting teams. Though still significant, this is a much smaller number compared to a Reuters report that suggested 20% of staff would be affected by layoffs due to the increased spending on AI.

This change comes as the company is shifting away from its metaverse creation, which includes Horizon Worlds for its Quest VR headset that’s operated by the Reality Labs team.

Epic Games

The gaming giant on March 24 announced it was laying off more than 1,000 workers in an effort to right-size the staff of its popular free-to-play online shooter, Fortnite. CEO Tim Sweeney sent a note to his staff, citing the “downturn in Fortnite engagement,” which means “we’re spending significantly more than we’re making, and we have to make major cuts to keep the company funded.” He made it a point to note the layoffs are not related to AI.

Ubisoft

Ubisoft laid off 105 employees from the Red Storm Entertainment team in an effort to cut costs, IGN reports. Game development has ended at the studio, so the downsizing will remain permanent. The company employed 180 people in 2022 but has seen multiple layoffs over the years.

Atlassian

Roughly 1,600 employees were laid off at Atlassian on March 16, which is around 10% of total workers. Ahead of the layoffs, Atlassian CEO Mike Cannon-Brookes shared a message with the entire team, letting them know the reason was to “self-fund further investment in AI and enterprise sales, while strengthening our financial profile. We’re also changing the way we work and reorganising around our System of Work to move faster.” Impacted employees received an email shortly after this message went out.

Together, this all shows an acceleration by corporate America to streamline operations and improve productivity in the era of AI.

Tyler Durden
Fri, 10/23/2026 – 10:25

Main St.-Wall St. Divide Reaches Record High As UMich Inflation Angst Re-Accelerates

survivalnomics
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Main St.-Wall St. Divide Reaches Record High As UMich Inflation Angst Re-Accelerates
Main St.-Wall St. Divide Reaches Record High As UMich Inflation Angst Re-Accelerates

Preliminary October UMich Sentiment held steady this month, registering a tiny 0.1pt decline below September (Current Condiutions dipped but Expectations ticked up)…

Increases in sentiment among Republicans and Democrats were balanced by declines among independents.

While year-ahead business conditions improved about 14%, they stand 16% less than last October’s read.

This month’s decline in the Current Conditions subindex was driven entirely by buying conditions for durables, which plunged 18% on the basis of higher interest rates and rising concerns about the affordability of such purchases.

Inflation expectations over both time horizons increased for the second straight month to their highest readings since May.

  • Long-run inflation expectations also stepped up from 3.4% in September to 3.5%, notably higher than their 2024 range of 2.8% to 3.2%.  

  • Year-ahead inflation expectations ticked up from 4.6% last month to 4.7% this month.

Frustration over high prices eroding consumers’ living standards continues to mount.

For the fourth straight month, an increasing share of consumers spontaneously mentioned that high prices are dragging down their personal finances, at 56% this month, compared with 45% in January of this year. As seen in the chart below, these increases are seen across the political spectrum, with Republicans exhibiting the largest proportional rise. In contrast, the wealthiest consumers report little change in the burden of high prices since January. Gasoline prices remain highly salient this month, mentioned unprompted by over 40% of respondents. 

Purchasing power continues to dominate consumer views of the economy.

Sentiment is now 10% below a year ago and 15% less than February, just prior to the Iran conflict.

Finally, some crazy context, Wall Street (S&P 500 Total Return Index) has surged to record levels, while the Main Street (UMich Consumer Sentiment) has plunged near its all-time low…

This gap reflects a market powered by corporate profits, tech concentration, and investor optimism even as households report deep frustration over high prices, borrowing costs, and weakened current economic conditions (which hit a record low of 44.7). Such extremes have historically been rare and highlight how equity markets and everyday consumer experiences have decoupled.

Tyler Durden
Fri, 10/23/2026 – 10:15

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