The US Senate passed a temporary spending bill to fund the federal government through December 11, avoiding a shutdown ahead of November elections and barring fund-shifting to the Border Patrol.
German opposition MP Marcus Frohnmaier (AfD) criticized Chancellor Friedrich Merz for prioritizing Ukraine aid over Germany's domestic competitiveness and energy crises. Frohnmaier stated Merz has neglected campaign promises, leading to low approval ratings and German companies leaving the country due to high energy costs and regulation.
The Iran war's reignition has disrupted oil flow through the Strait of Hormuz, pushing Brent crude to $100 a barrel. Gulf nations are accelerating at least seven major pipeline projects to reroute oil via the Red Sea, Suez Canal, and Gulf of Oman, with Iraq securing a $60 billion deal for a Syria pipeline.
US House Republicans narrowly passed a $1.15 trillion military spending package (2027 NDAA) 216-212, despite Democratic concerns over its cost and expanded military technology collaboration with Israel, and its connection to the "unpopular war on Iran."
Oracle has laid off approximately 21,000 employees, a 12.9% reduction, citing the adoption of AI technologies and significant capital expenditure for data center infrastructure to support AI workloads. The company plans to raise $45-50 billion in 2026 for cloud infrastructure expansion, despite already holding over $120 billion in debt.
Donald Trump is pushing Republicans in Congress to pass a $350 billion military spending package, dubbed "Recon 3.0," before the midterm elections. The bill also includes the "Save America Act," proposing sweeping national voting rules, banning men from women's sports, and prohibiting transgender surgeries for minors.
UK birthrates are at a record low, with many young people delaying or forgoing children due to the high cost of raising a family. The government is investing heavily in childcare but is now investigating private equity's role in the sector due to concerns over hidden fees and profit-driven practices.
