Archive edition
Nvidia changes leadership, Ukraine diplomacy moves to Moscow and Dublin, and a strike hits a Gaza hospital. Turkey raises its inflation forecasts and signs a $1.6 billion climate financing package.
AI industry
Nvidia announced that Jensen Huang resigned immediately as CEO, president and a director. CFO Colette Kress becomes interim CEO, while Harvey C. Jones becomes board chair. The change follows the board’s investigation into reports that Huang was targeted by a foreign intelligence effort. It creates leadership uncertainty at a crucial supplier of AI chips, with consequences for customers planning large computing investments.
Russia and Ukraine
Steve Witkoff and Jared Kushner met Vladimir Putin in Moscow on Thursday, then Volodymyr Zelenskyy in Dublin. Washington and Kyiv want Europe to appoint a single negotiator. Putin reiterated his opposition to European troops in Ukraine after a ceasefire. The meetings take diplomacy beyond the prisoner-exchange agreement, but leave a central question unresolved about how a settlement would prevent another invasion.
Middle East
An Israeli airstrike hit Nasser Hospital in southern Gaza on Thursday, killing six people and wounding 28, according to AP. Gaza’s Health Ministry said a surgeon and a 13-year-old boy were among the dead. Israel said it targeted a Hamas commander and other militants, without providing evidence. Damage to one of the remaining operational hospitals further threatens medical care for civilians.
U.S. and Iran
President Donald Trump said Thursday that the U.S. did not need a deal with Iran and directed Vice President JD Vance to concentrate on domestic issues. The statement changes the tone after this week’s mediation by Qatar. Continued uncertainty about a diplomatic route leaves Gulf shipping and energy supplies exposed to renewed confrontation.
Climate
An event at the COP31 leaders’ summit announced more than $480 million to accelerate action on methane and other greenhouse gases beyond CO₂. Reducing these pollutants can slow near-term warming alongside carbon reductions. The announcement adds financing commitments to the summit’s negotiations, with delivery and measurable emissions cuts still to follow.
Markets
The S&P 500 and Nasdaq each fell 0.4% at the November 12 close. Nvidia initially plunged 14% following Huang’s departure, before recovering about half that loss. Other AI chip stocks rose, limiting the broader damage. Oil prices climbed after Trump’s Iran comments. The session showed how concentrated technology leadership and energy uncertainty can pull markets in different directions.
Retail and technology
JD.com completed its takeover offer for Germany’s Ceconomy, making the electronics retailer a subsidiary. Ceconomy operates more than 1,000 stores across 11 markets under MediaMarkt, Saturn and MediaWorld. JD says the deal will support expansion of its European online electronics business. The acquisition brings a major Chinese e-commerce group into the center of Europe’s electronics retail market.
Inflation and rates
The central bank raised its end-2026 inflation forecast to 29.5% from 28%, its end-2027 forecast to 21% from 15%, and its end-2028 forecast to 13.5% from 9%. Governor Fatih Karahan pledged to maintain tight policy until prices stabilize. The higher expected path means households and businesses face a longer period of substantial price increases and continued pressure from borrowing costs.
Climate investment
Turkey and the Asian Infrastructure Investment Bank signed a $1.6 billion package at COP31 to support climate policy and institutional reforms. The program covers carbon-market and green-finance measures intended to attract investment. It is a financing agreement supporting reforms, with the eventual effect on emissions and private investment depending on implementation.