Your brief - 24h (12 articles)

The Wall Street Journal reports that the U.S. federal government has entered a shutdown after Congress failed to pass a funding bill, halting some federal services and placing hundreds of thousands of workers on furlough. This shutdown, the first full federal closure since 2013, poses significant risks to economic stability, with potential daily costs of $400 million in lost compensation for furloughed employees, according to the Congressional Budget Office. On one hand, Republicans argue that the shutdown presents an opportunity to eliminate unnecessary government programs. On the other, Democrats emphasize the economic harm and disruption to public services, calling for bipartisan negotiations to resolve the crisis. Source 3 Source 6 Source 9

The Guardian reveals that Taiwan has become the largest importer of Russian naphtha, a critical material for semiconductor production, despite its alignment with sanctions on Russia over the Ukraine war. This paradox highlights the complex interplay between economic necessity and geopolitical alliances. While Taiwan's reliance on Russian naphtha aids its semiconductor industry, critics argue that such trade undermines the effectiveness of global sanctions against Moscow. The situation underscores the challenges of balancing economic interests with foreign policy commitments. Source 24

According to the Financial Times, Berkshire Hathaway is nearing a $10 billion deal to acquire Occidental Petroleum's petrochemical unit. The sale would help Occidental reduce its $24 billion debt while boosting Berkshire's stake in the energy sector. This move illustrates the continued dynamism of the oil and gas industry despite global shifts toward renewable energy. Analysts suggest that Berkshire's investment reflects a strategic bet on the enduring profitability of fossil fuel-related ventures, even as environmental concerns loom large. Source 40

The Financial Times reports that Deloitte has achieved global revenue growth, driven by strong demand for corporate strategy consulting, despite sluggish performance in Europe. This trend reflects the increasing need for business adaptability amid economic uncertainties. However, the uneven growth signals challenges in Europe, where economic recovery has been slower. Deloitte's success demonstrates how professional services firms are capitalizing on the need for corporate resilience in a volatile global economy.

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The Hill highlights that the U.S. government shutdown stems from a standoff between Republicans and Democrats over health care subsidies linked to the Affordable Care Act. The New York Times emphasizes that Republicans are pushing to repeal aspects of Obamacare, framing the shutdown as a tactic to advance their legislative agenda. Democrats argue that the GOP's demands are harmful and unnecessary, citing polling data showing public disapproval of government closures. This deadlock reflects broader polarization in American politics, where partisan priorities frequently hinder governance. Source 6 Source 30 Source 33

Politico Europe reports that EU leaders are considering using €140 billion in frozen Russian assets to support Ukraine's war efforts, specifically by purchasing European-made weapons. While some member states advocate for flexibility in how Ukraine uses the funds, others prioritize bolstering Europe's defense industries. The proposal has sparked legal and ethical debates, particularly regarding the precedent it could set for handling seized assets. This issue underscores the EU's struggle to balance solidarity with Ukraine against internal disagreements and legal constraints.

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TechCrunch reveals that the U.S. Department of Energy has taken a 5% equity stake in Canadian company Lithium Americas and its Nevada mining project. This investment is part of efforts to secure a domestic supply chain for critical minerals essential to green energy technologies. The move aligns with broader U.S. strategies to reduce reliance on foreign sources, particularly from China, for materials crucial to renewable energy and electric vehicle production. Analysts view this as a step toward greater energy independence and industrial competitiveness. Source 27

The Financial Times reports that a new U.S. study finds little evidence that artificial intelligence is causing widespread job losses. While automation continues to reshape the labor market, the study suggests that AI often complements human labor rather than replacing it entirely. Critics argue, however, that the long-term effects of AI adoption could still disrupt specific industries. This research adds nuance to debates around AI's role in economic transformation and its implications for workforce development.

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The Guardian cites a report from Scholars at Risk, warning that academic freedom in the U.S. is under unprecedented threat, with 40 documented attacks in 2025 alone. The Trump administration's policies, including funding cuts and restrictive measures, are criticized for undermining higher education's role as a global leader. On the one hand, proponents of these policies argue they address perceived inefficiencies in academia. On the other, critics view them as a dismantling of the foundations of intellectual freedom and innovation. Source 12