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Here’s what you need to know
The British pound hit a record low. It plunged 5% against the dollar as the UK is poised to make its biggest tax cut in 50 years. The Bank of England has ruled out an emergency rate raise.
TikTok could face a $29 million fine (£27 million) in the UK. The social media platform may have failed to protect children’s privacy, violating a national data protection law.
The EU will delay its plan to cap Russian oil prices. Internal disagreement, including dissent from Hungary and Cyprus, is stalling action. Meanwhile, the defunct Nord Stream 2 pipeline has sprung a leak.
Apple started manufacturing its newest iPhone in India. Production began just three weeks after the model’s launch as the tech giant seeks to diversify its supply chain outside of China.
The OECD slashed its 2023 growth forecast. Russia’s invasion of Ukraine will cost the global economy an estimated $2.8 trillion, according to the organization.
The Philippines will close 175 offshore gambling firms. About 40,000 Chinese workers will be deported as the country cracks down on online betting.
Japanese prime minister Fumio Kishida met with US vice president Kamala Harris. The two are in Tokyo to discuss the issue of Taiwan’s security as protests over former prime minister Shinzo Abe’s funeral continue (see more below).
What to watch for
It may take a few more days for Giorgia Meloni, the leader of Fratelli d’Italia (Brothers of Italy), to officially be assigned the task of forming a government and becoming Italy’s first female prime minister. But the polls—albeit with a low turnout of 63%—spoke loud and clear: Italians chose a hard right government.
Meloni’s party, a post-fascist group that got less than 4.5% votes in Italy’s 2018 parliamentary elections, ranked first, winning 26% of the votes. Italy’s right wing now altogether holds close to 60% in both houses of the parliament.
The new coalition was elected on a populist anti-abortion, anti-immigration, anti-LGBTQ+ platform, and while Meloni herself has rejected anti-NATO and anti-European positions, it remains to be seen whether her allies’ ties to president Vladimir Putin—Matteo Salvini and Silvio Berlusconi are known friends of Russia—won’t end up influencing her foreign policy, too.
Another (very expensive) state funeral
Despite raging protests, a rare state funeral for Japan’s former prime minister Shinzo Abe takes place today (Sept. 27). Credited with reviving the country’s economy, he is only the second post-wartime president to get the honor. Abe, the country’s longest-serving head of government, was assassinated during an election campaign speech in Tokyo on July 8.
The official farewell has citizens polarized. For one, they’re divided over Abe’s legacy, which is riddled with autocratic tendencies. Plus, the public worries about the frivolous use of taxpayer money. Abe’s state funeral is poised to cost 1.66 billion yen ($11.5 million), which is likely more than what the Queen’s funeral cost last week.
More than 700 guests from 217 countries are expected to attend. US vice president Kamala Harris, who has already arrived in Japan, and Indian prime minister Narendra Modi, who did not attend the Queen’s funeral, will both be in attendance to pay their respects.
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Surprising discoveries
Band tour buses are in short supply. Higher prices are making it difficult for some musical acts to hit the road.
Intestinal loop-de-loops do not form randomly. Gut coils can also reveal more about how our organs develop.
A bee vaccine is in the works. Dalan Animal Health, its developer, has raised $3.6 million to protect the fuzzy pollinators.
A museum in Amsterdam became an insect-safe zone. No spidery corners were cleaned for three months to make an artistic statement at the Rijksmuseum.
A new AI art software turns your text prompts into Pokémon. Now you can really catch ‘em all, no Poké Balls required.
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