Latest news for 30 September 2025

UNITED STATES

Shutdown looms.

Vice President Vance has warned that the US government is headed for a shutdown tomorrow (Wednesday) after President Trump’s last-ditch congressional meeting failed to produce a breakthrough (one sticking point is health benefits). (Reuters)

Comment: Global shares are mostly down right now, as investors brace for the worst.

IRAN

Snapped back.

Wide-ranging UN sanctions on Iran have now snapped back into place after a decade-long pause, with France, the UK, and Germany accusing Iran of continued nuclear escalation. Tehran claims the sanctions are unfair and illegal. (Guardian)

CHINA

More chips!

Huawei is planning to double output for its most advanced chips as it seeks to expand its home market presence. The Shenzhen-based firm recently unveiled a three-year plan to catch up to America’s AI chip leader, Nvidia. (Bloomberg $)

Comment: Nvidia is still at least a couple of (big) generations ahead, but if Huawei manages to massively ramp up production like this, it suggests it might’ve at least figured out ways to ease some of its production bottlenecks.

SPAIN

Let me upgrade ya’.

Top credit rating agencies Fitch and Moody’s have now joined S&P in upgrading Spain’s credit rating from A- to A, reflecting continued enthusiasm around the Spanish economy. Buoyed by foreign investment, immigration, and EU funding, Spain continues to outperform its EU peers (2.7% vs the Euro area’s 1.2%). (CNN)

Comment: With debt still a wildcard elsewhere, Spain is now among the world’s few major economies to score any rating upgrade this year (along with Italy, Nigeria, Kenya and Pakistan). But Spain really stands out for its trifecta (Moody’s, Fitch, S&P).

NIGERIA

Oil strike.

Authorities are working to avert blackouts after Nigeria’s main oil and gas trade union went on strike Monday. The union is unhappy about a recent wave of refinery layoffs by Africa’s richest man, Aliko Dangote. (Business Insider Africa)

Comment: Dangote only just opened this infrastructure a few months ago, hailing the $20B project as liberating Nigeria from its reliance on foreign refiners. With unions now tapping his brakes, it’s a reminder that infrastructure is still just one piece of the puzzle.

MALAYSIA

Football woes.

FIFA has fined Malaysia’s football association on allegations it submitted fake documents to naturalise several Latin American players. (Arab News)

Comment: Outlets in Vietnam are celebrating the fact this means their team’s Asian Cup qualifier loss to Malaysia now gets reversed. We explored the geopolitics of citizenship here.

BOLIVIA

Plot twist.

Police in Bolivia have arrested the Andean country’s former counternarcotics czar, after authorities found a cocaine lab at one of his properties. (BBC)

Comment: The amount of cash on offer, the state of Bolivia’s institutions, and continued economic malaise make these arrests semi-common — two other former Bolivian counternarcotic bosses are already doing time or facing charges in the US.