Good morning. Donald Trump has been temporarily blocked from removing Fed Governor Lisa Cook. Israel’s attack on Hamas leaders in Qatar draws a rare public criticism from the White House. And the race to be the world's richest person is heating up. Listen to the day’s top stories.

By Maddie Parker

Donald Trump has been temporarily blocked from removing Federal Reserve Governor Lisa Cook, allowing her to stay in the job while she challenges efforts to oust her over allegations of mortgage fraud. The judge’s ruling means Cook can probably attend next week’s interest rate-setting meeting. In more Fed news, Treasury Secretary Scott Bessent called on the central bank to recalibrate after a government agency revised US jobs data to show weaker hiring in the year through March.

Israel's strike against Hamas leaders in Qatar drew rare public criticism from Trump, with the White House saying the strike didn’t advance Israeli or American goals to end the Middle East conflict. In Europe, Poland shot down drones that crossed into its territory during a Russian air strike on Ukraine, calling it an “act of aggression.”

Oracle shares jumped 30% after the company gave an aggressive outlook for its cloud business, stunning Wall Street and fueling AI hopes. In more company news, Novo Nordisk will slash 9,000 jobs globally as it fights to recover ground lost to Eli Lilly in the obesity drug market, while Synopsys shares plummeted as the US-China trade war weighs on its sales.

The US Supreme Court said it will decide whether the bulk of Trump’s tariffs are legal on a fast-track schedule, with arguments to be heard in the first week of November. Meanwhile, Trump and Indian Prime Minister Narendra Modi have promised to resume trade talks, despite the president telling European officials he’s willing to impose new sweeping tariffs on India and China to push Vladimir Putin to the negotiating table, if the EU does as well.

An immigration raid at a Georgia plant owned by Hyundai and LG Energy has disrupted construction at multiple sites across the US. The company issued an internal notice calling for the immediate return of all workers traveling in the US under the ESTA scheme, a person familiar said. Here’s a look at why immigration snared South Korean workers over visas.

Deep Dive: Giant Copper Prize

Anglo American’s Collahuasi copper mine in Chile. Photographer: Anglo American Plc

For years, a merger between Teck Resources and Anglo American’s mines was the most obvious deal in the global mining industry, but one that no one could quite pull off.

• Then in mid-2024, executives started talking about a tie-up of their two huge — and neighboring — copper mines high up in the Atacama desert.
• On Tuesday, this culminated when Anglo American agreed to acquire Teck, creating a company worth more than $50 billion in one of the biggest mining deals in over a decade.
• Now that Anglo has set the scene, it may also have fired the starting gun on a round of major industry deals.

The Big Take

The exterior handle of a 2023 Tesla Model Y.  Photographer: Sarah Anne Ward/Bloomberg

Tesla’s deadly doors. Certain hallmarks of Tesla vehicles — flush door handles, electrical power, mechanical releases—are flummoxing occupants and first responders. This means that when Teslas lose power, crashes can turn into deadly races against time.

Opinion

Counting all the people at work in a country the size of the US isn’t easy, John Authers writes. That said, the latest revision to the official non-farm payroll data, which found that jobs were over-counted by 910,000 in the 12 months to March, does nothing to salve confidence. 

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Before You Go

Larry Ellison, left, and Elon Musk. Photographers: David Paul Morris/Bloomberg; Chip Somodevilla/Getty Images/Bloomberg

Larry Ellison is closing in on Elon Musk for the title of the world’s richest person. His fortune soared $70 billion after Oracle reported quarterly results after market close yesterday that surpassed expectations — and said there’s more growth to come.