Barbados on Wednesday released the third draft of its ambitious multilateral overhaul that would free up more money at lower borrowing costs for developing countries in climate crises.
Why it matters: The Bridgetown Initiative, released at this week's UN General Assembly, has brought together many Global South countries that seek to bridge the financial gap — estimated in the trillions — in climate financing for the region.
Its central message is to make it cheaper for emerging and developing countries to borrow to build climate-resilient economies.
House Speaker Mike Johnson (R-La.) on Wednesday called on Ukrainian President Volodymyr Zelensky to fire his ambassador to the U.S., Oksana Markarova.
Why it matters: The demand is part of a growing firestorm around Zelensky's Monday visit to a factory in Pennsylvania that manufactures ammunition for Ukraine.
Why it matters: The probe is sure to deepen already-simmering tensions between Zelensky and allies of former President Trump over the GOP presidential nominee's growing criticism of U.S. support for Ukraine.
The U.S. is "intensely tracking" Iranian threats against current and former senior government officials, including former President Trump, Secretary of State Antony Blinken said on Wednesday.
Why it matters: Federal agencies have already said that Iran has worked to "undermine confidence" in U.S. elections, and violence has continuously manifested in the presidential campaigns.
Ukrainian President Volodymyr Zelensky warned against "half-hearted settlement plans" in his UN General Assembly address Wednesday, saying alternatives ignore "the suffering of the Ukrainians" and give "Putin the political space to continue the war."
The big picture: More than two years into the war with Russia, the Ukrainian leader continues to call for the global stage to direct its attention to the embattled nation.
French pharma giant Sanofi received binding offers for its consumer health business from private equity firms PAI Partners and Clayton Dubilier & Rice, with expectations that a deal would be worth at least €15 billion, per Bloomberg.
Why it matters: This would be the year's second-largest European private equity deal, behind KKR's deal for Telecom Italia assets, and largest in France.
The Biden administration is working on a new diplomatic initiative for a "pause" in the fighting in Lebanon and a resumption of negotiations on a Gaza hostage and ceasefire deal, according to two U.S. officials, one Israeli official and two sources with direct knowledge.
An international fund that supports independent media on Wednesday unveiled an ambitious plan to raise $150 million by mid-2025 to bolster independent media in low and mid-income countries globally over the next three years.
Why it matters: The International Fund for Public Interest Media's (IFPIM) pitch to leaders in the public and private sectors is that without a vibrant free press, democracy cannot survive.
President Biden has spent nearly a year plotting and praying he could help prevent the war in Gaza from spreading. The rapidly expanding conflict between Israel and Hezbollah signals his power has reached its limit.
Why it matters: U.S. officials privately admit the massive fighting that's killed more than 700 people in Lebanon looks like another war — even if the Biden administration doesn't officially call it one.
Former President Trump said early Wednesday after his campaign announced intelligence officials had briefed him on Iran's efforts to assassinate him that he believes Tehran "will try again."
Why it matters: One of the largest U.S. Spanish-language broadcasters is putting the presidential candidates before a key voting bloc, Hispanic voters, to face questions on the economy, jobs, health care, immigration and foreign policy.
