IRS to furlough over 34,000 employees amid government shutdown

On November 13, 2025, the Bank of Japan announced its goal to achieve wage-driven inflation, signaling a strategic alignment with the government's economic perspective. This approach aims to stimulate the economy by increasing wages, which could lead to higher consumer spending and ultimately drive inflation. The move is significant as it reflects a coordinated effort between the central bank and the government to address economic challenges and foster sustainable growth in Japan.

Food stamp benefits, which were suspended at the beginning of November, will be reinstated and paid out within 24 hours of the government reopening. This quick resumption is significant as it provides timely support to individuals and families relying on the Supplemental Nutrition Assistance Program during a period of uncertainty. The announcement aims to reassure beneficiaries that assistance will be available shortly after the government resumes operations.

Dua Lipa, along with other prominent musicians like Coldplay and Radiohead, has publicly supported a government initiative to cap ticket resale prices. This move aims to combat ticket touting, ensuring that fans can access tickets at fair prices. The artists are urging the government to fulfill its pledge on this issue, highlighting the importance of protecting fans from inflated resale costs.

Japan's currency, the yen, is experiencing a significant slump, raising concerns about the effectiveness of the new government's ability to intervene directly in the market. Traders are increasingly skeptical about the government's capacity to stabilize the yen, which is approaching levels that have historically prompted intervention. This situation is critical as it could impact Japan's economy and its position in global markets, highlighting the challenges faced by the new administration in managing economic stability.

CoreWeave, a key partner of Nvidia, experienced a significant 17% drop in its stock value amid ongoing selloffs of Nvidia shares and a protracted government shutdown. This decline highlights investor concerns regarding the stability of tech stocks and the broader economic implications of the government impasse.

Treasury Secretary Scott Bessent has been found using a limited partnership to avoid Medicare taxes, a strategy that the I.R.S. has attempted to curtail. This revelation is significant as Bessent is now in a position overseeing the I.R.S., raising questions about the integrity of tax enforcement and the potential for conflicts of interest. The use of such tax dodges by high-profile individuals highlights ongoing issues within the tax system and the effectiveness of regulations designed to prevent tax avoidance.

The British Medical Association (BMA) has announced a new round of strikes by resident doctors, starting Friday, due to ongoing concerns about low pay. The BMA claims that doctors' salaries remain significantly lower than they were in 2008, and the government has not fulfilled its commitment to restore these wages. This situation highlights the ongoing struggle of medical professionals in the UK to secure fair compensation, which is critical for attracting and retaining talent in the healthcare system.

The UK government, led by Pensions Secretary Pat McFadden, has announced a reconsideration of its previous rejection of compensation for the Women Against State Pension Inequality (WASPI) campaigners. This move indicates a potential shift in policy regarding the financial support for women affected by changes to the state pension age. However, McFadden clarified that this reconsideration does not guarantee that compensation payouts will be made. The situation is significant as it reflects ongoing debates about pension rights and the impact of policy changes on women's financial security.