Commonwealth Bank, Temu and HCF among those named at this year’s Shonky awards

The Carney government is making a bold move with its 2025 Budget, investing $110 billion over five years to boost productivity. This significant financial commitment aims to tackle challenges head-on, and while the results will take time to materialize, the potential benefits could far outweigh the costs. It's an ambitious plan that reflects a proactive approach to economic growth and could set a precedent for future budgets.

In a historic victory speech, New York's mayor-elect Zohran Mamdani took a bold stance against Donald Trump, condemning the oligarchy and authoritarianism he associates with the former president. This moment is significant not only for Mamdani's win but also for the broader Democratic successes in key races across California, New Jersey, and Virginia, indicating a shift in voter sentiment and a potential resurgence for the party in upcoming elections.

Asian chipmakers are facing a significant downturn as global stock markets experience a sell-off, raising concerns about a potential equity correction. Deutsche Bank has highlighted worries over an AI bubble, which is contributing to the market's instability. This situation is not just limited to Asia; European indices are also feeling the impact, with notable declines in major markets like the FTSE 100 and DAX. This matters because it reflects broader economic uncertainties that could affect investments and consumer confidence worldwide.

Canada's Liberal government has introduced an ambitious new budget aimed at countering the economic impact of recent U.S. tariffs. With a staggering 280 billion Canadian dollars allocated, this spending spree is designed to bolster the Canadian economy and support local industries. This move is crucial as it not only addresses immediate economic challenges but also reinforces Canada's commitment to maintaining a strong trade relationship with its most significant partner, the United States.

The former John Lewis boss has raised alarms about Britain potentially sliding into an economic crisis, citing a staggering £85 billion sickness bill. Since 2019, the number of individuals unable to work due to health issues has surged by 800,000, highlighting a growing concern for the economy. This situation is significant as it not only affects the workforce but also places a heavy burden on the economy, potentially leading to wider implications for public health and financial stability.

In a distressing situation, 37 dogs are trapped in a dog sanctuary in Carmarthenshire due to severe flooding caused by intense rain. This incident highlights the urgent need for effective disaster response and animal welfare measures during extreme weather events, as the safety of these animals hangs in the balance.