The Turkish Defense Ministry said the strikes hit 89 separate targets associated with the Kurdistan Workers' Party and its Syrian branch, which Turkey blamed for a bombing in Istanbul last week that killed six people and wounded 81 others. The PKK-as the Kurdish group is known-and its Syrian branch both denied involvement in the attack, and no one has claimed responsibility.
Iran's Security Forces Crack Down on Protest Movement in Kurdish Region
Iranian security forces swept through the country's Kurdish region with helicopters and armored vehicles, firing live ammunition and raiding homes in search of opponents, a show of force that demonstrates how the government's response to a two-month-old protest movement is taking a more violent turn.
Protesters in Mahabad and surrounding areas filled city streets Saturday, according to authorities and witnesses. After rumors swirled on social media that authorities were gearing up to attack, balaclava-clad protesters wearing makeshift helmets set bins on fire, according to footage posted by Tavaana, a U.S.-based Iranian civic organization, and other social media accounts. Protesters then barricaded a key artery in Mahabad with cinder blocks and wooden doors, according to witnesses and the footage.
Israeli Pilgrims' Attack on Palestinians Draws Condemnation
TEL AVIV-A riot by Jewish pilgrims in the West Bank city of Hebron over the weekend drew widespread condemnation, with Palestinian leaders warning that the incoming right-wing Israeli government could cause further instability in the West Bank.
On Sunday, U.S. Ambassador to Israel Tom Nides called the riot abhorrent and urged rapid de-escalation of the situation. Outgoing Israeli Prime Minister Yair Lapid called the events, in which one Israeli soldier was injured, a "national disgrace." Israeli Defense Minister Benny Gantz condemned the attacks on Palestinians and Israeli forces and said those responsible would be held accountable. Incoming Prime Minister Benjamin Netanyahu issued no statement about the violence in Hebron, and his spokesman didn't respond to requests for comment.
COP27 Sets Up Climate-Damage Fund for Poorer Nations but Rejects Faster Emissions Cuts
SHARM EL SHEIKH, Egypt- Poorer countries secured a deal at United Nations climate talks to create a fund for climate-related damage as part of a broader agreement that failed to yield faster cuts in emissions sought by wealthy nations to avert more severe global warming.
The accord at the COP27 summit in this Egyptian seaside resort hands a victory to poorer nations that have demanded that money since the first U.N. climate treaty was signed three decades ago.
GLOBAL NEWS
Housing Industry Braces for a Downturn, but Investors Are Piling In
Investors are seizing on any sign inflation has peaked as a reason to snap up beaten-down shares. Just look at housing stocks.
Redfin Corp. shares have soared more than 50% since Nov. 9 when the real-estate brokerage's chief executive warned, "We have to assume that the sun will never come up." Shares of home builder PulteGroup Inc. have gained 11% over the same period, despite its CEO recently describing a widespread pullback in demand as interest rates climbed.
Earthquake in Top Texas Oil Region Spurs Calls for New Fracking Rules
A powerful earthquake in West Texas is drawing fresh scrutiny to frackers' water-management operations in the nation's hottest petroleum-producing region.
A 5.4-magnitude earthquake, the fourth largest in Texas history, struck an oil-and-gas production hot spot in Reeves County on Wednesday afternoon, sending tremors that were felt as far as Dallas, El Paso and San Antonio, where it damaged a historical building. No injuries were reported.
FTX Says Top 50 Creditors Are Owed $3.1 Billion
FTX owes its 50 largest creditors about $3.1 billion, the failed cryptocurrency exchange said in a bankruptcy court filing Saturday. The filing didn't name the creditors, but it listed them as customers. Two creditors are each owed more than $200 million.
FTX's lawyers have said in all there could be more than one million creditors across FTX's various entities.
As Republicans Take Command in House, Fight Over 2023 Farm Bill Looms
WASHINGTON-House Republicans had a tough time passing the last farm bill, when they had a sizable majority in 2018. It's about to get much harder.
The bill, always a big lift for any Congress, is typically reauthorized every five years. The current version expires at the end of September next year, setting up a looming legislative headache for GOP Leader Kevin McCarthy of California, who will have a slim majority if he is elected speaker in January.
China's Central Bank Keeps Benchmark Lending Rates Unchanged
China's central bank kept benchmark loan rates unchanged this month, amid continued downward pressure on the yuan and slowing economic growth.
The one-year loan prime rate stood at 3.65% while the five-year rate was 4.3%, both unchanged from last month, the People's Bank of China said in the statement Monday.
China Consumer Spending Slumps Under Covid and Property Restrictions
HONG KONG-Chinese consumer spending is buckling under the country's dual campaigns against rising property prices and Covid-19 outbreaks, flashing a warning for global companies that have pinned their hopes on a more free-spending Chinese customer.
Retail sales unexpectedly dropped last month and are expected to continue to struggle as Chinese authorities launch wide-ranging lockdowns to contain the latest fastest-spreading Covid outbreaks, and as easing measures do little to reverse a worsening property market meltdown.
Chinese Consumer, Casino Stocks Fall as Covid-19 Cases Climb
Chinese consumer stocks were sold off Monday as investors' attention turned to Covid-19 once again as the country's infections rise and virus-related deaths were reported for the first time in almost six months.
Restaurant, retailer and Macau casino stocks listed in Hong Kong were among the top decliners among blue chips by midday trade, while liquor makers dragged on the Chinese onshore market. Hot-pot restaurant operator Haidilao International Holding Ltd. slid 6.9% and Chow Tai Fook Group Ltd. lost 6.0%, while Sands China Ltd. and Galaxy Entertainment Group Ltd. fell 6.7% and 6.0%, respectively. The city's benchmark Hang Seng Index was down 2.1% at 17616.06.
Elon Musk Reinstates Donald Trump's Twitter Account After Online Poll
Elon Musk reinstated Donald Trump's account on Twitter Inc. after polling users on the platform, broadening the former president's potential reach days after he declared another run for the White House.
The move also underscored how Mr. Musk has made himself the principal decider on all things Twitter after buying the platform for $44 billion late last month. Mr. Musk had previously said he would establish a content council to weigh in on account reinstatements.
Sam Bankman-Fried, FTX Team Among Top Political Donors Before Bankruptcy
FTX founder Sam Bankman-Fried and members of his team rose from relative obscurity in Washington to be among the biggest donors in U.S. politics, contributing more than $70 million to election campaigns in less than 18 months.
Mr. Bankman-Fried personally gave $40 million to politicians and political-action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign donations. Ryan Salame, another top FTX executive, donated more than $23 million, mainly to Republicans and conservative groups.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
11-21-22 0547ET
