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The dark and narrow hallways of Baku’s Olympic Stadium have fallen quiet, leaving only die-hard climate negotiators to haggle over money in COP29’s final hours.

Almost 200 countries attending the United Nations Climate Change Conference have a sole objective: to agree to a deal that will mobilize more than $1 trillion to put the poorest on a path to a greener future and protect them from increasingly extreme weather.

At stake is whether the world can prove it’s still committed to the fight against climate change amid war, Donald Trump’s US election victory and strained budgets. But conversations about money are never easy, and this one has turned bitter with just hours to go before the summit’s scheduled close.

A deal here may simply paper over the cracks until Brazil’s COP30 summit in the Amazon next year.

Azerbaijan, the host of this year’s summit, hasn’t made many friends. Its draft proposals designed to bring countries closer only served to move them further apart. Negotiators took turns to lambaste each other over a five-hour plenary session that aimed to find common ground.

While poorer nations slammed their rich peers like the US and the European Union for not specifying how much money they’re willing to offer, the latter group returned fire by saying the potential agreement fell far short of what is needed in shifting from fossil fuels.

Trump’s vow to leave the landmark Paris Agreement that commits countries to a goal of keeping global warming to 1.5C looms over these talks. US negotiators are trying to strike a deal that enables them to come back into the fold at a later date. Others, like oil-rich Saudi Arabia, see an opportunity to hold back progress.

With the talks almost certainly running into the weekend, countries will do well to keep the show on the road. — John Ainger

A destroyed riverbed and buildings following flash floods in Chiva, Spain, on Nov. 5. Photographer: Angel Garcia/Bloomberg

Russia said the experimental intermediate-range ballistic missile it fired at Ukraine yesterday was in retaliation for its use of American and British-made missiles on Russian territory this week. The attack was the latest escalation of hostilities and an alarming signal to Kyiv’s Western backers. The Pentagon said Russia notified the US of the planned launch shortly before it happened through nuclear risk-reduction channels.

The International Criminal Court’s decision to issue arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant on accusations of committing war crimes in Gaza adds to pressure on the country’s leadership over the conduct of its military campaign against Hamas. Netanyahu today called the announcement “anti-Semitic” and said Israel will keep “defending its citizens.”

A Palestinian woman and children following an Israeli strike at the Al Aqsa Martyrs Hospital in central Gaza on Oct. 14. Photographer: Ahmad Salem/Bloomberg

Iran ordered the collection of “new and advanced” centrifuges in its nuclear program in response to a censure by the UN’s nuclear watchdog, ratcheting up tensions with the West just days after it signaled a willingness to ease them. The move was in response to a rebuke from the International Atomic Energy Agency over Tehran’s failure to resolve a probe into uranium particles found at undeclared locations, Iran said.

Brazil’s federal police recommended criminal charges against Jair Bolsonaro after investigating an alleged coup attempt following his 2022 election loss, the first time authorities directly linked the right-wing former president to attempts to keep his successor from assuming power. The decision relates to events on Jan. 8 last year when thousands of Bolsonaro supporters stormed the capital after his defeat by President Luiz Inacio Lula da Silva.

President Bassirou Diomaye Faye’s party won an overwhelming majority in parliamentary elections, paving the way for Senegal’s new leader to deliver on a reform agenda aimed at stabilizing the nation’s finances and creating jobs. His Pastef party won 130 of 165 seats in the National Assembly, according to preliminary results, giving him sufficient backing to pass legislation needed to amend the constitution.

Chinese President Xi Jinping visited Morocco on his way home from the Group of 20 summit in Brazil, underscoring Beijing’s push to develop ties with Africa.

Thailand’s Constitutional Court dismissed a complaint against former premier Thaksin Shinawatra and his ruling party, a major reprieve for his daughter’s government.

Chancellor Olaf Scholz said voters should trust him to keep Germany out of a direct conflict with Russia, highlighting a key campaign message after he was confirmed as the Social Democrats’ lead candidate for February’s snap election.

Almost two out of three households in Nigeria, Africa’s most populous nation, are going hungry, with families skipping meals because they can’t afford enough food, the country’s statistics agency said.

ours after former Representative Matt Gaetz withdrew from consideration to be the next US attorney general, Trump turned to another Florida ally, Pam Bondi, to run the Justice Department.

Bondi has been one of his most ardent champions. As Florida attorney general, she tried to overturn President Barack Obama’s Affordable Care Act and provisions banning health-insurance companies from charging more to customers with preexisting conditions. In 2020, after leaving office, Bondi joined Trump’s defense team during his first impeachment by the House.

This year she began working for the America First Policy Institute, a Trump-aligned think tank. Bondi has amplified Trump’s false claim of voter fraud in the 2020 election and told Fox News last year that “the investigators will be investigated.”

One thing to watch today: The University of Michigan’s gauge of consumer sentiment for this month is expected to show an improvement.

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China is promising to support firms in their efforts to increase exports despite a rising global backlash over an influx of cheap goods from the world’s second-biggest economy. Wang Shouwen, the international trade representative and a vice minister of commerce, said today the government will also direct Chinese shipping firms to boost cargo capacity and bolster e-commerce. The nation’s total shipment value is on track to rise to the highest ever this year.

Saudi Arabian Oil executive Ziad Al-Murshed was forced to leave the stage at a hotel in a Boston suburb yesterday after climate protesters disrupted an event sponsored by the Massachusetts Institute of Technology. About 15 people rushed onto the stage while Al-Murshed was speaking, waving posters with “murderer” written on them and chanting phrases such as “no more drilling rigs.” They then turned to the audience — a group of finance executives — and chanted, “we need clean air, not another billionaire.”

WATCH: Climate protesters disrupt the MIT event. Source: Bloomberg

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