10 Things Global News - 10th October 2025
Interesting and important stories from around the world
Russia’s War Economy Shows Signs of Strain
Russian Strikes Hit Kyiv Homes and Power Grid
Israel Backs Gaza Truce and Hostage Release Plan
Trump Targets Spain Over NATO Spending
Strong Quake Triggers Philippine Tsunami Evacuations
U.S. Sanctions Chinese Firms Over Iranian Oil Trade
NY Attorney General Letitia James Indicted
U.S. Buys Pesos, Sets $20bn Swap With Argentina
Venezuela Seeks UN Council Talks Over US Strikes
French Court Raises Sentence In Pelicot Rape Case
On this day ….
On this day in 1973, U.S. Vice President Spiro Agnew (who has been described as being “Trump before Trump” due to his attacks on the media) resigned after pleading no contest to tax-evasion charges stemming from bribery investigations.
His departure, amid the Watergate crisis, reflected an era when political accountability could still end careers. Today, similar scandals often provoke outrage but few resignations—a sign not of cleaner governance but of dulled expectations.
The Agnew episode underscores how norms erode gradually: what once demanded contrition now draws defiance or simply denial. It stands as a benchmark for how far the threshold of political consequence has shifted in half a century.
Russia’s industrial base is under mounting pressure as slowing domestic demand, falling exports and Western sanctions erode the momentum of its war economy. Major employers from transport to mining are shortening working weeks or cutting staff, with companies such as Cemros, Kamaz, Avtovaz and Alrosa introducing furloughs or payroll reductions to curb costs without triggering mass layoffs. Russian Railways, a key indicator of commodity flows, has asked central office staff to take unpaid leave amid declining revenues.
The slowdown extends beyond individual firms. Non-military sectors have contracted by more than 5% this year, and GDP growth is forecast to fall to around 1%, a sharp drop from over 4% in 2023 and 2024.
Moscow is stepping in with tax deferrals, transport discounts and targeted support, but rising salary arrears and closures across industries — from timber to coal — underscore deepening economic stresses. Analysts warn that dependence on wartime spending has left Russia exposed as underlying demand weakens.
Sources: Reuters, Semafor
A major Russian missile and drone assault on Kyiv early Friday set a high-rise apartment building ablaze and cut power and water supplies across parts of the city. Mayor Vitali Klitschko said nine people were injured, five of whom were taken to hospital, as critical infrastructure on the east bank of the Dnipro River was hit. Firefighters contained the blaze, while debris from downed drones damaged several districts.
The energy minister confirmed that strikes targeted Ukraine’s grid, triggering widespread blackouts. Russia has intensified attacks on energy and rail networks ahead of winter, repeating tactics used in previous years to degrade essential services.
Ukraine placed the entire country on alert over fears of incoming hypersonic missiles, while separate drone strikes in Zaporizhzhia killed a child and wounded three people. President Volodymyr Zelenskyy said Moscow’s aim was to sow chaos and psychological pressure.
Sources: The Guardian, Reuters
Israel’s cabinet has approved the “outline” of a U.S.-brokered plan for a Gaza ceasefire and the release of remaining hostages. According to officials, the ceasefire would begin after approval, with Israeli forces pulling back to an agreed line within 24 hours, followed by a 72-hour window for phased prisoner–hostage exchanges. Mediators in Egypt, Qatar and Turkey have been central to the talks, while Hamas negotiators say the deal includes opening the Egypt crossing, allowing aid flows and releasing around 2,000 Palestinian prisoners.
Significant questions remain over disarmament and Gaza’s governance. Strikes in the territory continued ahead of the vote, and casualty figures remain high after two years of war.
The U.S. plans to deploy about 200 troops as part of a wider international team to monitor the agreement and support aid logistics, alongside an envisioned multinational security role inside Gaza.
Sources: The Independent, Euronews
U.S. President Donald Trump suggested NATO should consider ousting Spain over its defence spending, saying “maybe you should throw them out of NATO, frankly,” during a meeting with Finland’s President Alexander Stubb. He has pressed allies to allocate 5% of GDP to defence — 3.5% for core military outlays and 1.5% for wider security — and Spain was the only country to decline to commit to the benchmark agreed at June’s summit.
Madrid pushed back. Prime Minister Pedro Sánchez’s office said Spain is a full, committed member that fulfils its targets. Spain spent under 1.2% of GDP on defence in 2023, and Sánchez has argued 2.1% would meet national commitments.
While Trump floated expulsion, NATO’s treaty has no suspension or expulsion mechanism; major decisions require agreement among all 32 members, and there is no indication the U.S. could act unilaterally.
Sources: Politico Europe, Bloomberg
A magnitude-7.4 offshore earthquake struck near Manay in the southern Philippines at 9:43 a.m. local time, prompting authorities to order evacuations from coastal areas amid tsunami warnings.
The president said damage assessments and search-and-rescue deployments were being prepared. The seismology agency warned of aftershocks and possible damage following the shallow offshore event linked to the Philippine Trench.
Officials reported at least one death from falling debris and building damage, including cracked walls at Davao City’s airport, which remained operational. The Pacific Tsunami Warning Center detected small waves on Philippine and Indonesian coasts before the threat passed roughly two hours later, though minor sea fluctuations could continue. Separate reports noted evacuations in Davao City and nearby areas as residents moved to higher ground.
Sources: Associated Press, ABC News
The United States announced new sanctions on a network that facilitates Iran’s oil and petrochemical exports, targeting individuals, entities and vessels tied to shipments that Washington says fund Tehran’s nuclear and missile programmes and allied groups.
Measures include designations against China-based Shandong Jincheng Petrochemical and the Rizhao Shihua Crude Oil Terminal, which U.S. officials say received multiple “shadow fleet” deliveries. Treasury described this as the fourth round focusing on China-based refineries purchasing Iranian oil.
The action also identifies several tankers linked to Iranian crude and LPG flows, and expands designations under Executive Orders 13902 and 13846. Treasury said it is “dismantling key elements of Iran’s energy export machine.”
China’s embassy in Washington criticised the move as unlawful sanctions and vowed to safeguard Chinese companies’ interests. U.S. officials added that sanctioned property in the U.S., or in the possession of U.S. persons, is blocked and reportable to OFAC.
Sources: Straits Times, US Treasury
New York Attorney General Letitia James has been indicted by a federal grand jury in Virginia on one count of bank fraud and one count of making false statements to a financial institution.
Prosecutors allege she misrepresented a Norfolk, Virginia property as a secondary residence to obtain favourable mortgage terms, while using it as a rental investment. Her initial court appearance is set for 24 October in Norfolk.
James denied wrongdoing, calling the charges politically motivated and citing public pressure from President Donald Trump on prosecutors. The case is led by U.S. Attorney Lindsey Halligan, who said the allegations reflect “criminal acts” and that no one is above the law. Halligan was appointed after Erik Siebert resigned; he had reportedly not found sufficient evidence to charge James. James previously led a civil fraud case against Trump and has said she will fight the charges.
Sources: Bloomberg, BBC
The U.S. Treasury intervened in Argentina’s currency market, with Secretary Scott Bessent saying the department “directly purchased Argentine pesos” to support the currency after reserves were rapidly depleted. He added that Washington has finalised a $20bn currency swap framework with Argentina’s central bank, calling Milei’s reform programme “of systemic importance.” The move is highly unusual; the U.S. has intervened in FX markets only three times since 1996.
Bessent said Argentina faces “acute illiquidity” and that Treasury is ready to take “exceptional measures” to stabilise markets. Argentina’s dollar bonds rallied on the announcement, with the 10-year yield falling to 11.47%, while the peso strengthened 0.6%, its best level in a week.
Economy Minister Luis Caputo thanked Bessent. Milei has sought to keep the peso within fixed bands before the 26 October midterms, as investors questioned the policy amid heavy reserve sales.
Sources: FT, Washington Post
Venezuela has asked the UN Security Council for an emergency session on recent US military actions off its coast, accusing Washington of threatening regional and international stability.
In a letter to council president Vassily Nebenzia, Caracas alleged the Trump administration is pursuing regime change and warned of an “armed attack” in a very short time. Diplomats said the meeting would take place on Friday at 3:00 pm (1900 GMT), backed by Russia and China.
The request follows four US strikes on boats in Caribbean waters amid what President Donald Trump has called an “armed conflict” with drug cartels. Venezuela says Washington is using drug trafficking as a pretext. Its foreign ministry said at least 21 people were killed in recent weeks in strikes the US says targeted drug-carrying vessels. Caracas and Washington severed diplomatic ties in 2019.
Sources: Associated Press, France 24
A French appeals court increased Husamettin Dogan’s sentence to 10 years for raping Gisèle Pelicot after she was drugged unconscious by her husband. The presiding judge also ordered five years of mandatory treatment. Dogan, 44, had appealed a nine-year term from last year’s mass-abuse case; prosecutors had sought 12 years. Video evidence shown in court depicted Dogan repeatedly raping an inert Pelicot over more than three hours.
The retrial centred on consent. Prosecutor Dominique Sié argued that consent is personal and cannot be delegated by a spouse, while Pelicot told Dogan to “take responsibility.”
Investigators said footage showed him staying at the home for at least three hours and 24 minutes. The broader case had earlier convicted 51 men, including Pelicot’s then husband, Dominique Pelicot, who received 20 years for orchestrating assaults over nearly a decade.