FIVE MINUTE DAILY

A U.S. funding deal to end the historic shutdown moved toward a House vote, COP30 focused on climate financing, and Taiwan prepared for Typhoon Fung-wong’s arrival.

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The Senate backed a funding bill to end the record federal shutdown, sending the measure to the House for a final vote as early as this week, after days of negotiations. The package would fund the government into January.

The shutdown has delayed pay for federal workers and disrupted services, even as the deal leaves decisions on health insurance subsidies for a later vote. House leaders signaled they will move quickly.

Why it matters: Markets, travel, and data releases have been hampered by the lapse, and a clean reopening would reduce near-term economic risk while punting bigger fiscal fights to December and January.

As COP30 convened in Brazil, officials and financiers pressed how to mobilize money for adaptation and decarbonization through tools like loss-and-damage funding and blended finance. Delegates stressed resilience spending amid more frequent storms, floods, and fires highlighted at the summit’s outset.

With many countries fiscally stretched, proposals emphasize private capital and multilateral banks to close the gap. A separate briefing underscored the rising need for resilience investment.

Why it matters: Financing is the hinge between targets and implementation; agreements this week could shape pipelines for climate projects through 2030.

Taiwan issued land warnings and evacuated more than 3,000 people as Typhoon Fung-wong approached. Forecasts called for heavy rain along the mountainous east.

The island has faced consecutive storms this season, straining infrastructure and local budgets. Authorities urged residents to prepare for flooding and landslides.

Why it matters: Successive extreme-weather events test disaster readiness and highlight the urgency of the resilience funding under discussion at COP30.

An Iranian official said Tehran seeks a “peaceful” deal with the U.S. but described mixed messages from Washington. The comment comes amid sporadic diplomacy and pressure over enrichment levels.

Turkey and Egypt plan talks in Ankara focused on the Gaza cease-fire and reconstruction. Officials aim to coordinate aid and longer-term stabilization plans.

Kyiv and Moscow offered conflicting battlefield accounts as combat flared near contested towns in the east. Both sides reported localized advances and heavy losses.

China announced new restrictions on chemicals used to make fentanyl, following recent high-level talks. The move targets exporters linked to U.S. overdoses.

Fallout continued after a controversial edit of a political speech, with resignations triggering an internal reckoning. Governance and impartiality reviews are underway.

Global equities steadied as investors priced a potential government reopening. Attention turns to data backlogs and year-end rate expectations.

Global shares rose on shutdown optimism, while worries about stretched tech valuations kept gains in check, per a markets wrap. The dollar held firm and bonds were steady.

SoftBank said net profit more than doubled on investment gains tied to AI, as it reshaped holdings following recent transactions, according to a results update. Investors weighed the outlook for further deals.

Stocks tied to artificial intelligence slipped after a major holder exited a prominent chipmaker, with U.S. futures softer in early trade, per live market coverage.

Intel’s CEO took direct oversight of AI efforts after an executive departed for a rival lab. The shake-up comes as chipmakers race to supply training and inference demand.

Enterprise AI software maker C3 AI is weighing a sale after leadership changes, sources said. Potential bidders could test valuations after a volatile year for AI equities.

Scientists unveiled “AlphaSync,” a resource to keep protein predictions current for researchers, with details published today in a peer-reviewed paper. The tool aims to speed drug-discovery workflows.

San Antonio topped Chicago 121–117 behind timely shooting and late stops in a road win. The Bulls rallied in the fourth before the Spurs closed it out at the line.

After a heavy weekend defeat, Andy Robertson said Liverpool has a steep climb in the Premier League race but urged patience as fixtures tighten.

Japan’s football chief said the national team is aiming for a World Cup final as preparations intensify. Recent results have lifted expectations.

Actor O Yeong-su was acquitted of misconduct charges by a South Korean appeals court, a decision that clears the way for future roles. Prosecutors can still appeal.

Sydney Sweeney said she remains proud of boxing biopic “Christy” despite its slow box office start. The film dramatizes the life of Christy Martin.

Industry events and awards-season spotlights drove a wave of premieres and galas, captured in today’s style wrap. Designers and stars highlighted year-end campaigns.

The Senate’s bill to reopen the government would restore funding into January and send back pay to federal workers, easing a strain that rippled into air travel, data releases, and contracting, as the measure moves to the House. The agreement includes standard appropriations and extensions that avert immediate layoffs and service interruptions.

But unresolved is the fate of enhanced health insurance subsidies that lower monthly premiums for millions. Lawmakers punted that decision to a separate vote, creating uncertainty for insurers and consumers heading into the new year. Health policy analysts warn that lapses could translate into higher bills and churn on the exchanges without a timely fix, even as some shutdown impacts unwind, as health coverage watchers note.

For markets, the near-term relief has already filtered through risk assets, with equities stabilizing while investors reassess inflation and growth once federal data flow resumes, per global market briefings. The bond market’s reaction remains muted, reflecting expectations that the deal defers rather than resolves fiscal tensions.

What to watch: House vote timing and amendments; any linkage between a subsidy extension and broader budget priorities; the speed of reopening at key agencies; and whether pent-up economic releases shift expectations for rates and growth. Another funding deadline in early 2026 suggests more brinkmanship is possible before a longer-term settlement.

• Skywatchers get a treat as forecasters issue a geomagnetic storm watch that could push the northern lights into more U.S. states tonight and Wednesday.

• Scientists uncovered a pale pink sea anemone that builds shell-like homes for hermit crabs in Japan’s deep sea — a remarkable example of underwater architecture in action.

• Researchers found that chameleons possess coiled optic nerves—like miniature telephone cords—which help their eyes swivel nearly 360 degrees.

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—The Five Minute Daily Team