Axios

Israel's Security Cabinet on Thursday voted to extend the approval for Israeli and Palestinian banks to conduct business for another year until November 2025, three Israeli officials told Axios.

Why it matters: The Biden administration and a long list of Western countries, led by Britain, France and Germany, warned of an economic collapse for the Palestinian Authority if the approval wasn't extended.

The Israeli Defense Force says it attacked a Hezbollah rocket launcher near Saida, the third largest city in Lebanon, on Thursday.

Why it matters: This is the first such Israeli attack since the ceasefire took effect on Wednesday morning.

Australia's parliament on Thursday became the first in the world to pass a social media ban for children under 16, multiple outlets reported.

Why it matters: It's a major win for advocates who have long warned social media is harming teens' mental health and attention spans, and could serve as a model for other countries around the world.

President-elect Trump said Wednesday he spoke to Mexican President Claudia Sheinbaum about stopping migration into the U.S.

The big picture: It comes a day after the recently-inaugurated Sheinbaum said she would impose tariffs in retaliation to those proposed by Trump.

President Biden told Israeli Prime Minister Benjamin Netanyahu during a phone call on Tuesday that following the ceasefire agreement in Lebanon, the focus should now be on reaching a deal for the hostages to be released and a ceasefire in Gaza, two U.S. officials told Axios.

Why it matters: There are still 101 hostages being held in Gaza by Hamas, including seven American citizens. Israeli intelligence services believe roughly half of them are still alive.

Retired Lt. Gen. Keith Kellogg, President elect-Trump's pick for special envoy for Ukraine and Russia, has pushed a proposal to end the war between the two countries through NATO ruling out membership for Ukraine "for an extended period" and Ukraine putting off its goal of reclaiming its lost territory.

Why it matters: Trump named Kellogg as his choice for special envoy on Wednesday, months after Reuters reported on Kellogg's policy plan in June. The plan for a ceasefire signals U.S. support for the war effort would be scaled back.

T-Mobile said in a blog post Wednesday it prevented an attempt to infiltrate its systems following reports of an ongoing Chinese espionage campaign targeting high-profile individual's phones through weaknesses in telecommunications networks.

Why it matters: This is the first time T-Mobile has provided details on activity that could be linked to the sprawling espionage campaign that continues to worry U.S. officials.

The White House on Wednesday sanctioned 21 senior officials aligned with Venezuela President Nicolás Maduro for "myriad abuses" following the widely disputed claims that Maduro won reelection this year, according to a senior official.

Why it matters: It's the latest effort to put pressure on Maduro since the July 28 elections that prompted mass protests and a violent crackdown on demonstrators. The opposition has shown evidence that its candidate, Edmundo González Urrutia, overwhelmingly won the election.

Three Americans were released from China Wednesday following a prisoner exchange between Washington and Beijing.

Why it matters: The detainees' release is the culmination of years-long talks between U.S. and Chinese officials, per Politico, which first reported the Americans' release.

America's No. 1 man in the Indo-Pacific, Navy Adm. Samuel Paparo, minced no words at recent events as he offered two alarming insights.

• First, Russia will likely provide submarine technology to China and missile technology to North Korea. The former jeopardizes "American undersea dominance."

Russia's attack on Ukraine that used an "experimental" intermediate-range ballistic missile dubbed Oreshnik was messaging, not mass destruction.

Why it matters: The Nov. 21 salvo underscored how little recourse Moscow has to Western aid — like Army Tactical Missile Systems — once deemed red lines.

Reaching a ceasefire between Israel and Hezbollah was a hard-won diplomatic achievement, but preventing it from collapsing could ultimately be more difficult.

Why it matters: The U.S. will now be tasked with maintaining calm along one of the most volatile borders in the Middle East, between Israel and Lebanon, during a presidential transition and amid a broader regional crisis that is far from over.