Good morning. The Supreme Court on Monday said it would formally reconsider a 90-year-old precedent that has barred presidents from removing officials of independent agencies absent misconduct or other cause.

• December hearing: Monday’s order set a hearing for December and said the court would consider whether to overrule a 1935 decision known as Humphrey’s Executor, which upheld the removal protection of a Republican-appointed FTC commissioner whom President Franklin Roosevelt wanted to fire.
   
• Ready to overrule: In a series of prior decisions and emergency orders, the court’s conservative majority has signaled it is ready to overrule that precedent and give President Trump authority over a raft of agencies Congress sought to insulate from political interference, including the National Labor Relations Board, the Consumer Product Safety Commission and the Securities and Exchange Commission—along with the FTC.
   
• Still good law: In a dissent Justice Elena Kagan, joined by Justices Sonia Sotomayor and Ketanji Brown Jackson, stressed that Humphrey’s Executor is still good law and prevents the court from giving the president the unlimited removal power Congress denied him.
   
• FTC Commissioner out: The court also granted President Trump’s emergency request to remove the Federal Trade Commission’s sole remaining Democratic commissioner, Rebecca Kelly Slaughter, over the dissent of three liberal justices.

Google’s ad monopoly under microscope as judge weighs remedies.

Google is entering the final stretch of an antitrust case targeting its digital advertising monopoly, weeks after emerging largely unscathed from a significant challenge to its online search stronghold.

U.S. District Judge Leonie Brinkema on Monday began hearing testimony from Google employees, as well as advertisers, publishers and others, as she considers potential penalties against the company for maintaining an illegal monopoly in parts of the online advertising industry. The judge ruled earlier this year that Google’s monopoly in ad exchanges and server markets violated antitrust laws, harming advertisers and consumers.

Kenvue braces for wave of new lawsuits over Tylenol’s potential link to autism.

Kenvue is preparing for an explosion of litigation over its popular pain reliever Tylenol after the Trump administration warned that the drug’s active ingredient is a potential cause of autism.

The finding by President Trump’s health officials, which Kenvue and some medical societies dispute, could provide ammunition to plaintiffs’ attorneys who are seeking to reverse losses in older lawsuits alleging the medicine caused the neurodevelopmental disorders. And it could unleash thousands of new lawsuits in the coming years, people familiar with the matter say.

• Trump Warns Pregnant Women to Avoid Tylenol

• Mexico’s financial intelligence unit froze assets allegedly linked to the Sinaloa cartel in a coordinated action with the U.S., Risk Journal reports. The coordinated action comes as the U.S. ramps up pressure on Mexico to combat the financial networks behind its drug cartels.
   
• UBS Group said it would pay fines and civil damages amounting to 835 million euros, equivalent to about $986 million, in France to resolve a long-running case over its role in helping wealthy clients evade taxes.

How Macron and Saudi Arabia turned the tide on Western support for a Palestinian state.

It was once unthinkable that a wave of some of the U.S.’s closest Western allies would recognize a Palestinian state. It took less than a year of closed-door diplomacy by French President Emmanuel Macron and Saudi officials to upend the decades-old status quo.

The push gathered force as Macron grew frustrated with Israel and watched as the Middle East’s traditional diplomatic power-broker, the U.S., was stymied in its efforts to end the war in Gaza. Over much of the past year, the French joined the Saudis in pressing Western countries to buck their biggest ally in Washington and, in Macron’s eyes, save the Israeli-Palestinian peace process.
 

• The World Sees Hope for a Two-State Solution. Israelis and Palestinians See None.
• What Netanyahu Would Risk by Annexing the West Bank

U.S. Treasury chief hints at Argentina financial rescue.

The Trump administration is looking at options to provide Argentina a financial lifeline as the country struggles to overhaul its economy, U.S. Treasury Secretary Scott Bessent said Monday.

Bessent, in a series of posts on X, laid out the options administration officials are reviewing to backstop Argentina if the country under President Javier Milei’s leadership can’t overcome its financial woes. “These options may include, but are not limited to, swap lines, direct currency purchases, and purchases of U.S. dollar-denominated government debt from Treasury’s Exchange Stabilization Fund,” Bessent said.

• North Korea’s Kim Jong Un said he would sit down with President Trump, but with one major condition: he won’t discuss giving up the country’s nuclear weapons.
   
• Iran announced Saturday it will suspend cooperation with the International Atomic Energy Agency as U.N. sanctions are set to automatically take effect within days, escalating a nuclear standoff​ that began after military strikes on Iranian facilities in June.
   
• Spirit Airlines is planning to furlough one-third of its flight attendants, another effort by the bankrupt airline to slash expenses.

• The stock market notched new records Monday thanks to a blockbuster deal between two of the largest players in the artificial-intelligence boom.
   
• Nvidia’s move to invest $100 billion into OpenAI to help finance a historic data center build-out has helped reset market expectations about the startup’s shaky finances. It’s a familiar play by the chip giant.
   
• The Guardian is promoting a message of independence in the hopes of increasing its American readership, donations and advertising business, and subtly conveying that it covers more than just hard news out of Washington, D.C.
   
• The Waldorf Astoria fully reopens next month after an eight-year saga in which its buyer went to prison and the Chinese government took over the property. 
   
• American colleges are going all out to hold on to international students.

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