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Real-time News
Saudi civil defense officials said the danger in Abha has been averted.On October 12th, the London-based Institute for Fiscal Studies (IFS) warned ahead of the UK governments budget announcement later this month that Chancellor of the Exchequer John Healy must raise £35 billion to realize the Labour governments ambitious spending plan. The think tank noted that while Healy may have more leeway than expected in adhering to his fiscal rules, the credibility of the governments spending plan remains to be tested. The institution stated that unless the government intervenes, inflation will squeeze public spending, leading to underfunding of various government departments. IFS Director Helen Miller said, "If you want to increase spending without cutting public services, you have to consider raising taxes."On October 12th, according to Taiwans *Commercial Times*, a key timeline for TSMCs advanced packaging strategy in the US has emerged. GlobalFoundries announced a $2 billion manufacturing agreement with TSMC to begin mass production of COWOS key silicon interposers in the US in the first half of 2028. Notably, Amkors Arizona plant is also planned to begin production in early 2028, with the timing of these two major supply chains coinciding. Industry estimates suggest that TSMCs first advanced packaging plant in Arizona could begin operation as early as the first half of 2028, making the possibility of earlier trial production a focus of market attention.On October 12, Politico reported that a group of bipartisan senators called on President Trump to "immediately change course" and rescind his decision to allow the import of Russian diesel fuel. They accused the administration of violating federal law and providing Moscow with an economic lifeline at a time when Russia is waging military action against Ukraine. In a statement released Sunday, the senators pointed out that Congress had passed a ban in 2022 prohibiting the import of Russian energy; and that "President Trumps decision to allow the import of Russian diesel fuel into the United States directly violates that law." The statement also said, "The administration has also failed to consult Congress or provide any explanation for its decision as required by law." The critics include four Republicans—Susan Collins, Lisa Murkowski, Tom Tillis, and John Curtis—and Democratic senators—Jenny Shaheen, Richard Blumenthal, and Ron Wyden. Shaheen is the highest-ranking Democratic member of the Senate Foreign Relations Committee.Former US Vice President Harris: The culprit behind soaring diesel and gasoline prices in the US is Trump and his war against Iran. His latest tactic—selling fuel solutions to his ally Putin—demonstrates weakness; it funds Russian military operations but does nothing to ease the burden on American families.
