Shutdown Stirs Fears Over ACA Subsidy Expiration

 

As the federal shutdown enters a third week, a partisan standoff over extending enhanced ACA premium tax credits has Americans on edge. Democrats want extensions before reopening; Republicans insist on a clean funding bill first. KFF estimates premiums could more than double in 2026 if the boosts lapse after 2025....

States warn SNAP benefits may face delays

 

States are warning SNAP recipients they may miss November benefits as a federal shutdown stalls funding. Pennsylvania, New Jersey, Maryland, New York and Texas issued alerts after the USDA told agencies on Oct. 10 there would be insufficient funds and ordered them to pause sending EBT files, risking delays. The...

China Growth Slows Amid Rare Earths Controls

 

China's economy cooled in the third quarter, expanding 4.8% year on year, its slowest pace in a year, after Beijing imposed sweeping controls on rare earth exports, jolting a fragile trade truce with the US. Growth eased from 5.2% in the previous quarter, even as the statistics bureau cited resilience...

China Growth Holds as Investment Contracts, Output Beats

 

China’s economy grew 4.8% in the third quarter, in line with forecasts, even as an ongoing property slump weighed on investment. Fixed-asset investment fell 0.5% in the first nine months—its first contraction since 2020—with property investment down 13.9%. Pinpoint Asset Management’s Zhiwei Zhang called the drop “rare and alarming,” warning...

Americans report price strain under Trump tariffs

 

Americans interviewed by the Guardian describe shrinking carts, bare shelves and hard choices as Trump’s tariffs ripple through daily life. An S&P Global study says companies will face at least $1.2tn in extra 2025 costs, with two-thirds—over $900bn—passed to U.S. consumers; Yale researchers estimate households paying nearly $2,400 more a...

Sorkin's 1929 finds human drama in crash

 

Andrew Ross Sorkin's new book, 1929, reexamines Wall Street's crash through human drama, drawn from archives including JP Morgan partner Thomas Lamont's papers. Eschewing charts for character, Sorkin profiles Charlie Mitchell, Carter Glass, and John Raskob, dispelling myths (no wave of window leaps) and tracing how speculation, easy credit, and...

S&P 500 Rallies as AI Drives Gains

 

The S&P 500 is up roughly 13% year to date through Oct. 13, rebounding more than 20% since an April pullback following President Trump’s “Liberation Day” tariffs. If momentum holds, 2025 could deliver a third straight double‑digit rise—an uncommon streak seen only in the 1920s, 1930s, 1950s, and 1990s. Today’s...

Dimon warns as bankruptcies expose hidden risks

 

After a string of bankruptcies raised alarms in auto finance, JPMorgan CEO Jamie Dimon warned hidden risks may lurk beneath red-hot markets. A subprime auto lender and dealer collapsed amid risky loans, and a lawyer alleged in court "pervasive fraud." Tricolor Holdings also went bankrupt, linked to $170 million in...

New York jobseeker plans temple move amid slowdown

 

In New York, 41-year-old Emily Groveman has spent nearly two years searching for work, despite experience in NBA hospitality and six years leading a digital marketing team. She has tried networking, recruiters, and LinkedIn resume reels, even enduring 13 interviews for one role before losing out. Bills have mounted, and...

US Plans $20bn Facility to Aid Argentina

 

US Treasury secretary Scott Bessent said Washington is arranging a $20bn facility backed by private banks and sovereign wealth funds to help Argentina meet debt payments, separate from last week’s $20bn swap line with its central bank. Aimed at supporting President Javier Milei, the effort followed US currency-market interventions last...