Government shutdown could cost $14bn, congressional forecaster predicts - US politics live

The Bank of Canada has indicated that it has exhausted its tools to support an economy struggling due to ongoing trade tensions with the U.S. This situation is concerning as it highlights the limitations of monetary policy in addressing the challenges posed by tariffs, which could lead to further economic instability and uncertainty for businesses and consumers alike.

Japan's decision to continue importing Russian liquefied natural gas (LNG) despite U.S. pressure highlights a significant divergence in energy policy between the two nations. Prime Minister Sanae Takaichi emphasized that an embargo could harm Japan's economy, indicating the country's reliance on Russian energy supplies. This situation matters as it reflects Japan's strategic choices in energy security and its complex relationship with both Russia and the U.S., potentially impacting global energy markets.

The ongoing federal government shutdown is projected to cost the US between $7 billion and $14 billion, according to the congressional budget office. This significant financial loss is expected to impact the country's GDP, potentially reducing it by one to two percentage points due to decreased demand. This situation highlights the economic repercussions of political stalemates and underscores the importance of resolving budgetary issues to maintain economic stability.

Health Canada has made a significant move by approving lecanemab, the first drug aimed at slowing the progression of Alzheimer's disease. This approval is crucial as it brings hope to many patients and families affected by this debilitating condition. With lecanemab already available in countries like the U.S., U.K., Japan, Mexico, and China, its introduction in Canada marks an important step in the global fight against Alzheimer's, potentially improving the quality of life for countless individuals.

Israel has launched another strike in Gaza, resulting in the deaths of at least two more individuals, following an overnight bombardment that claimed the lives of at least 104 Palestinians, including children. This escalation poses a significant threat to the already fragile ceasefire brokered by the US, highlighting the ongoing violence and humanitarian crisis in the region. The situation is dire, as the attacks have shattered a brief period of relief for the Palestinian people, raising concerns about the future of peace efforts.

Ben Jennings' latest cartoon critiques the US's efforts to minimize the seriousness of the renewed hostilities in Gaza. This commentary is significant as it highlights the ongoing tensions in the region and the international response, or lack thereof, to the humanitarian crisis unfolding there.

The recent discussions between the U.S. and South Korea regarding their trade deal have shown promising progress. During President Donald Trump's visit to Asia, he met with South Korean President Lee Jae Myung, where they discussed a framework that could lead to significant investments and cooperation in shipbuilding, along with reduced tariffs on South Korea's auto industry. Although no formal agreement has been signed yet, Trump described the day as a 'tremendous success,' indicating that both nations are close to finalizing the deal. This development is crucial as it could strengthen economic ties and enhance trade relations between the two countries.

Nvidia has made history by becoming the world's first company to reach a $5 trillion valuation, just three months after surpassing the $4 trillion mark. This milestone highlights the booming artificial intelligence industry and the overall growth of the US stock market. Nvidia's impressive valuation even exceeds the GDP of major economies like India and Japan, showcasing its significant impact on the tech landscape and the economy.

Liverpool is set to face Crystal Palace in the Carabao Cup, with an experimental lineup featuring many substitutes. This match is significant as it showcases Liverpool's depth and strategy in cup competitions, while also providing an opportunity for lesser-known players to shine on a big stage. Fans can follow live updates and scores, making it an engaging evening for football enthusiasts.

The recent police raid in Vila Cruzeiro, which resulted in over 130 deaths, has left the community in shock and mourning. This tragic event marks the deadliest police operation in Rio de Janeiro's history, raising serious concerns about police violence and the impact on local residents. The gruesome scenes of disfigured bodies have sparked outrage and calls for accountability, highlighting the urgent need for reform in law enforcement practices. As the community grapples with this tragedy, it underscores the ongoing struggles faced by favelas in Brazil.

CBS News staffers are facing significant job losses as part of a sweeping layoff plan by parent company Paramount, which is cutting about 1,000 positions across its organization. This move comes after a merger with Skydance Media and is part of a broader $2 billion cost-cutting strategy. The layoffs have created a tense atmosphere among employees, many of whom have been anxiously awaiting the announcement. This situation highlights the ongoing challenges in the media industry as companies strive to streamline operations and reduce expenses.

The Congressional Budget Office has warned that a potential government shutdown could lead to a staggering loss of up to $14 billion in GDP, which may never be recovered even after funding is restored. This situation highlights the severe economic implications of political gridlock, affecting not just government operations but also the broader economy. As the deadline approaches, the urgency for lawmakers to reach an agreement becomes increasingly critical to avoid these financial repercussions.

Hurricane Melissa is wreaking havoc in the Caribbean, with a dangerous storm surge expected in the Bahamas and reports of dozens of fatalities in Haiti. The mayor of a southern Haitian coastal town is urgently calling for government assistance as the storm continues to impact the region. This situation is critical as communities struggle to cope with the aftermath of the hurricane, highlighting the need for immediate support and resources to aid recovery efforts.

A group of over 15 fertility patients is taking legal action to prevent the destruction of their frozen embryos due to administrative errors. These patients, some of whom are battling cancer or facing fertility issues, had frozen their embryos to enhance their chances of conceiving in the future. However, confusing rules regarding storage consent have left them in a precarious situation, highlighting the need for clearer regulations in fertility treatments. This case underscores the emotional and legal complexities surrounding reproductive rights and the importance of safeguarding patients' options.