About this Episode
US President Donald Trump pledged at the Republican convention that every adult American would receive a $5,000 “dividend” if Republicans win both chambers of Congress in November. He provided no details on funding or distribution; the plan would cost roughly $1.3 trillion at current adult population estimates. Vice‑President JD Vance suggested tariff revenue could cover payments. Critics called the promise implausible and potentially unlawful, noting federal spending requires congressional approval and laws bar vote-influencing payments. Supporters framed it as tax relief. The White House has not clarified mechanics; legal experts differ on whether the pledge could be treated as a lawful campaign promise or an illegal inducement.
A fire aboard the Liberia-flagged cargo ship Ocean Melody at a Qingdao, China, shipyard has killed 25 of the 42 people on board, Chinese state media report. Seventeen were rescued, five of whom are hospitalised in stable condition. The blaze began during maintenance at about 11:15 local time and was extinguished after roughly three hours; the cause remains unclear. Premier Li Qiang urged further rescue work and measures to prevent secondary incidents, while President Xi called for all-out search and rescue.
Oil and gas prices surged as conflict in the Middle East intensified, pushing Brent crude back above $100 a barrel amid disruptions including the effective closure of the Strait of Hormuz and reports that Houthi forces seized Yemen’s port of Mocha. Wholesale natural gas jumped compounding concerns as European storage levels remain low ahead of winter. Rising energy costs have stoked inflation fears and lifted global bond yields; UK 10-year yields hit levels not seen since 2007, raising government and consumer borrowing costs. Ofgem’s price cap shields consumers short-term, but prolonged high wholesale prices could increase household bills.
