Retaliation: Israel promised a response to the missiles that Iran fired into its airspace. Few expect it before Yom Kippur ends late Saturday. Iran has promised widespread destruction if Israel attacks, and Gulf nations are lobbying the U.S. to stop Israel from attacking Iran's oil sites because they worry it could lead to attacks on their own by Tehran's proxies.
Defense: It is Ukraine's first major wartime tax increase and is expected to shore up the nation's finances as it fights Russia. Kyiv needs $12 billion by the end of 2024 to spend on defense. The tax rise will bring about $563 million. Ukraine still faces a budget deficit of $38 billion next year.
One debt to bind them:Ukrainians are buying bonds to help fund the war with Russia. Lawyer Olesia Mykhailenko, an early investor in Ukraine's domestic debt and a proponent of the bonds, says it's not only good for the war effort, but a way to protect their cash from inflation.
Operation Snow Bank: Germany is working to thwart UniCredit's possible takeover of Commerzbank, a stance that European regulators oppose. TD Bank became the largest bank in U.S. history to plead guilty to violating a law aimed at preventing money laundering, and agreed to pay more than $3 billion in penalties to resolve the charges.
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