Daily Brief

US

Update: Investigators say Florida jet likely began breaking apart before crash

The Learjet 60 that crashed in Palm Beach County on Sunday likely began breaking apart before impact, NTSB member Tom Chapman said Monday. The crew had reported ice and moderate turbulence near 35,000 feet; less than 30 seconds after requesting a climb, the jet began descending and the crew issued a mayday call. Families identified the seven passengers, including Austin tech entrepreneur Adam Robinson, his wife Helen Sharp and their two young children. Co-pilot Nathalia Gadelha Filgueiras, 20, was identified by her family. The NTSB said determining a probable cause will take time.

BBC · ABC News · AeroTime

Flooding forces evacuations across the Four Corners region

A storm that dropped months' worth of rain caused record river crests and evacuations in at least a dozen counties across Arizona, Colorado and New Mexico on Monday, according to the National Weather Service and local officials. About 20,000 people in San Juan County, New Mexico, received evacuation notices. Police in Flagstaff, Arizona, reported two deaths they are investigating as weather-related. The Red Cross said hundreds of homes were destroyed or heavily damaged. The storm is moving into the central US for Election Day.

Los Angeles Times · Albuquerque Journal

• Update: Federal surge announced in Dallas nightlife district after shootings. U.S. Attorney Ryan Raybould on Monday announced "Operation Deep Cover," which adds federal, state and local officers to Dallas's Deep Ellum after three shootings early Sunday killed four people and injured at least 15. WFAA · CBS News

Politics & Elections

Update: Polls open in midterm elections with early vote already above 2022 total

Voters choose all 435 House members, about a third of the Senate and dozens of governors on Tuesday, with control of Congress at stake. In Texas, more than 7.7 million people voted early, about 40.5% of registered voters, according to state data. The early-vote total of more than 54 million, reported Sunday, is about 8 million above 2022, according to the University of Florida Election Lab. Early-vote figures show who voted, not how; ballots are generally counted starting Election Day.

UF Election Lab · Texas Tribune · NBC News

Business

Apple reports record September-quarter revenue of $114.5 billion

Apple said fiscal fourth-quarter revenue rose 12% from a year earlier to $114.5 billion, with iPhone sales up 17% to $57.6 billion and services at a record $31.6 billion. Earnings were $2.10 per share, above the $1.99 analysts expected, according to LSEG. It was the first report under CEO John Ternus. Apple forecast December-quarter revenue growth of 7% to 10% but a gross margin of 45% to 46%, below estimates, and shares fell about 3% in extended trading.

Apple · CNBC

• Tech drags S&P 500 and Nasdaq lower; Dow rises. On Nov. 2 the S&P 500 fell 0.51% to 7,541.40 and the Nasdaq 1.07% to 25,164.32, while the Dow rose 0.41% to 51,983.98. U.S. oil futures fell 7.4% to $96.46 amid Iran talks over the Strait of Hormuz. MarketWatch · CNBC

AI

Update: Anthropic's amended IPO filing shows $17 billion quarterly revenue and $895 billion in compute commitments

Anthropic filed an amended S-1 with the SEC on Monday reporting third-quarter revenue of about $17 billion, up from roughly $1.4 billion a year earlier, and a quarterly net loss of $23.3 billion, mostly non-cash charges tied to convertible notes and other financing instruments; its operating loss was $567 million. For the first nine months, revenue was $33.2 billion and the net loss $104 billion. The filing shows $895.4 billion in purchase and lease commitments, mostly for compute, including about $70 billion due within 12 months. It's the first full view of the costs behind the planned listing.

SEC · AP · CNBC

Tech

Marvell agrees to buy Lumentum in $115 billion all-stock deal

Marvell Technology said Monday it will acquire optical-components maker Lumentum in an all-stock deal valuing Lumentum at an implied enterprise value of $115 billion. Lumentum holders get 4.5 Marvell shares per share, about $1,132, a 23.9% premium to the Oct. 28 close before deal speculation began. Marvell holders will own about 67% of the combined company. The companies project over $1 billion in annual cost savings; closing is expected in the first half of 2028, pending shareholder and regulatory approvals. The deal combines chip and laser technology used to move data inside AI data centers.

Marvell · CNBC · Axios

Cyberattack on refrigeration systems hits supermarkets in several European countries

Supermarket fridges and freezers warmed overnight Sunday into Monday at dozens of stores in Belgium, Luxembourg, Sweden, Ireland, the Netherlands, Estonia and Finland, forcing retailers to discard food. Refrigeration installer Sabcobel said units were remotely switched to defrost mode, the same method used in last month's attack on French supermarkets. About 40 Delhaize and 15 Carrefour stores in Belgium were affected, along with Colruyt, ICA, Coop and an IKEA store. Belgium's federal prosecutor opened an investigation. No one has claimed responsibility, and officials said the attackers may never be identified.

BBC · Euronews · CNBC

Law & Courts

Supreme Court declines to block California from counting disputed mail ballots

The Supreme Court on Monday evening denied the Justice Department's emergency request to require California to set aside mail ballots from about 20,000 voters the federal government says are likely noncitizens. The unsigned one-sentence order in United States v. California (26A624) gave no reasons and noted no dissents. Lower courts had already refused: U.S. District Judge David Carter on Oct. 28 questioned the government's allegations, and a Ninth Circuit panel ruled 2-1 against the request on Oct. 30. The ruling means the ballots are counted under California's normal procedures.

Supreme Court of the United States · SCOTUSblog · CNBC

Judge dismisses complaint against ex-FBI officials in Hunter Biden-related case

U.S. Magistrate Judge Zia Faruqui in Washington on Monday dismissed a criminal complaint accusing former FBI officials Nikki Floris and Bradley Benavides of lying to the House Judiciary Committee in 2023 about the bureau's Hunter Biden investigations. In an hourlong bench ruling, he found no probable cause on any element and said the rushed case "cannot be described as anything other than weaponization." The DOJ said it disagrees and is "evaluating all options"; it could appeal or seek a grand jury indictment.

NBC News · CBS News · Roll Call

• New York Times and three other papers sue Brave over AI scraping. The Times and, separately, the Daily News, Chicago Tribune and Orlando Sentinel sued Brave Software in Manhattan federal court, alleging it scraped their articles, sold access to AI developers and helped users bypass paywalls. The New York Times · Bloomberg Law

Global

Belgian Prime Minister De Wever offers resignation after budget talks fail

Belgian Prime Minister Bart De Wever offered his resignation to King Philippe on Monday after his five-party coalition failed to agree a 2027 budget. The king withheld his decision, began consultations with coalition party leaders on Tuesday and will see De Wever again Friday, the palace said. The government seeks about €10 billion in savings by 2029. The parties are split mainly over tax increases, including a VAT change that the liberal MR opposes. Belgium's deficit was 5.2% of GDP in 2025, Politico reported, and is expected to rise.

AFP · Politico Europe · VRT NWS

US to remove South Africa and Rwanda from AGOA duty-free trade program

President Trump notified Congress on Monday that he intends to end South Africa's and Rwanda's eligibility for the African Growth and Opportunity Act from January 1, 2027, US Trade Representative Jamieson Greer said. The USTR cited trade and investment barriers and threats to US interests for both countries, corruption in South Africa, and rule of law and human rights in Rwanda. South Africa, the largest beneficiary, exported about $1.7 billion under AGOA in 2025, according to Reuters. Trade Minister Parks Tau said Washington was raising new issues that had not come up in negotiations. Rwanda did not immediately comment.

USTR · Reuters · The National

Update: Iran says it can reopen Hormuz in two days if US meets terms, as Doha talks end without deal

Iran said Monday it had shortened its proposal to end the war so it could be carried out in two days if Washington met its demands, including ending the US blockade of Iranian ports and lifting sanctions on oil sales. Foreign Ministry spokesperson Esmaeil Baghaei said the demands had not changed. Talks with Qatari mediators in Doha ended without a breakthrough. A draft US-Iran proposal was circulating, according to reports. Separately, China's Wang Yi urged a political solution in meetings with Iranian and Saudi officials.

Dawn · Daily Sabah · Al Jazeera

• US, Russia and Ukraine to hold talks in Abu Dhabi Nov. 10-11. US envoy Steve Witkoff said the US will mediate trilateral talks in Abu Dhabi next week covering security arrangements, de-escalation and humanitarian steps. Kyiv Independent · The Guardian
• WHO talks resume on pandemic treaty's pathogen-sharing annex. Negotiators in Geneva began a session, scheduled through Nov. 13, on the pathogen access and benefit-sharing (PABS) annex. The pandemic agreement needs the annex before it can take effect. WHO chief Tedros urged them to finish it. WHO · Euronews

Security & Intelligence

US carries out limited strikes on Iran's Qeshm Island

US forces struck Iran's Qeshm Island in the Strait of Hormuz on Monday, according to US officials speaking anonymously to several outlets; Central Command did not comment publicly. Officials described the strikes as defensive, targeting a launcher after Revolutionary Guard forces fired surface-to-air missiles at a US aircraft, and said they were not a resumption of major combat operations. Iranian state media reported explosions on the island. Officials said similar undisclosed strikes have occurred in recent weeks, as a US naval blockade of Iranian oil continues and a third aircraft carrier heads to the region.

Reuters · NBC News · ABC News

Russian bombing of Ukrainian aid center kills 26, Kyiv says

Russian aircraft struck a school used as a weekly humanitarian aid distribution point, and then its shelter, in the front-line village of Komyshuvakha in Zaporizhzhia region on Monday, killing 26 people, President Volodymyr Zelenskyy and emergency services said. Regional officials said at least nine guided aerial bombs, including 3,000-kg FAB-3000s, were used; five people were hospitalized and 27 were reported missing. Two rescuers and four police officers were among the dead. The strike came a day after a localized ceasefire around Russian-occupied Oleshky expired. Russia did not comment on the strike.

BBC · Kyiv Post

Houthis advance to within 80 km of Aden, claim drone attack on Saudi airport

Yemen's Houthis have advanced to within 80 km (50 miles) of Aden, the internationally recognized government's temporary capital, four military sources told Reuters on Monday, the closest since 2015. After taking Al-Maqatirah district in a three-day assault, they were fighting government forces at a camp near Tur al-Bahah, threatening the main Taiz-Aden road. Houthi spokesman Yahya Saree also claimed two drone attacks on Dammam airport in eastern Saudi Arabia over 48 hours; the Saudi-led coalition said it destroyed two drones near Riyadh but did not confirm a Dammam attack.

Reuters · AFP · Dawn

Construction, Infrastructure & Manufacturing

U.S. construction spending falls 1.9% in September

Construction spending fell 1.9% in September at a seasonally adjusted annual rate, the Census Bureau reported Nov. 2, and was 2.7% below September 2025. Private residential spending fell 5.5%, driven by a 13% drop in home improvements, while private nonresidential rose 1.1%. The Associated General Contractors said data center spending rose 8.6% for the month and 90% year over year. Public spending dipped 0.1%. The figures show growth concentrated in data centers and power projects.

Census Bureau · AGC

ISM factory index rises to 55.5 in October

The Institute for Supply Management's Manufacturing PMI rose to 55.5 in October from 54.5 in September, the 10th straight month of expansion, the group said Nov. 2. That was above the 54.7 expected in an Action Economics survey, Haver Analytics said. The production index reached 59, its highest since November 2021, and new orders rose to 55.5. Employment eased to 52.4, and the prices index fell to 75.2 but still signaled rising input costs. The data indicate U.S. factory output continued to strengthen despite elevated costs.

ISM · Haver Analytics

Science & Health

Update: Ebola deaths near 5,400 as US Congo travel attestation starts tonight

Africa CDC told AFP on Monday that the Bundibugyo Ebola outbreak has killed 5,376 people: 5,372 in Congo and two each in Kenya and Uganda. More than 10,000 people have been infected since May. Separately, a CDC order takes effect at 11:59 p.m. ET Tuesday. Everyone boarding an international flight to the US, crew included, must attest that they have not been in Congo in the previous 21 days. The order runs through Dec. 18. The CDC says the risk to the American public remains low, and Euronews reports there is still no approved vaccine or treatment for this virus.

Euronews · CDC · Federal Register

Energy & Climate

Oil posts biggest one-day drop since July on Iran talks

Oil prices fell more than 7% on Monday, Nov. 2, after the U.S. and Iranian presidents signaled openness to a diplomatic end to the war. Brent settled down $8.66, or 7.6%, at $104.77 a barrel, and U.S. crude fell 7.4% to $96.46, the largest daily percentage drops since July 27. Iranian negotiators have held talks with Qatari mediators, but no deal has been reached and tanker attacks near Hormuz continue. The drop eases some fuel-cost pressure, but analysts said supply risks remain.

Reuters · CNBC · NBC News

Level Up

Swap rereading for a 5-minute self-test

After reading a case, spec or training plan, close it and write from memory the three to five points you'd need to explain it, then check what you missed and reread only those parts. In a 2013 review of 10 study techniques, Dunlosky and colleagues rated practice testing and spaced practice "high utility" and rereading and highlighting "low utility." Lab work by Roediger and Karpicke (2006) found that taking memory tests improved long-term retention more than restudying the same material. Repeat the quiz a day later and again a week later, for example on a new Intapp module or a federal procedure rule, so the spacing works alongside the testing.

Psychological Science in the Public Interest · Psychological Science

Batch messages into set check-in times to cut switching costs

Pick two or three fixed times a day to process email and chat (say 9:00, 12:30 and 4:00), and close or mute those apps during deep-work blocks. Task-switching experiments summarized by the American Psychological Association show people lose time every time they switch, with bigger losses on complex or unfamiliar tasks. In a UC Irvine study (Mark, Gudith and Klocke, 2008), interrupted people finished tasks just as fast as uninterrupted ones by working faster, but reported significantly more stress, frustration, time pressure and effort. Before each block, write one line on what "done" looks like so you know where to pick up when you return.

American Psychological Association · UC Irvine CHI 2008

Learn

Today's field: Law (U.S. legal concepts)

• Res judicata (claim preclusion). Once a court has issued a final judgment on the merits, the same parties can't sue each other again over the same claim. It's like a referee's final call: you can appeal it, but you can't replay the game in front of a new referee. If a plaintiff loses, the claim is barred; if the plaintiff wins, the claim is "merged" into the judgment, so they can't sue again for more damages. Some dismissals, like those for lack of jurisdiction or ones expressly "without prejudice," don't trigger it. It is separate from issue preclusion, which blocks relitigating a particular issue that was already decided. Cornell LII Wex · Wikipedia
• Promissory estoppel. Usually a promise needs something in exchange, called consideration, before it becomes an enforceable contract. Promissory estoppel is an exception: if someone reasonably relies on a promise to their detriment, the promisor could have foreseen that reliance, and enforcing the promise is needed to avoid injustice, a court can make the promisor pay. For example, if a promise leads someone to sell property or spend significant money and the promise is then broken, that person may recover even without a formal contract. The American Law Institute wrote the principle into Section 90 of the Restatement of Contracts in 1932. Cornell LII Wex · Wikipedia