Good morning. It's Wednesday, Oct. 1, and today, we're covering the federal government shutdown, Nepal's living goddess, and much more. First time reading? Join over 4 million readers. Sign up here.
Don’t keep us a secret: Share the email with friends (copy URL here).
And, as always, send us feedback at [email protected].
|
|
|
|
The federal government shut down at midnight after Congress failed to approve a short-term funding bill, triggering the furlough of an estimated 750,000 federal employees each day and disrupting operations across multiple agencies.
Republicans had proposed a stopgap funding bill to maintain government funding mostly at 2025 levels through Nov. 21, while Democrats sought to reverse Medicaid cuts and extend Affordable Care Act tax credits set to expire this year. The Senate failed yesterday to pass either of the two competing measures. As a result, essential workers, including military personnel and TSA agents, will continue to work without pay, while nonessential offices such as the Labor Department and national parks are closed or operating at limited capacity. Separately funded programs such as Social Security and the Postal Service continue unaffected or with minor administrative disruptions. See a breakdown of federal spending here.
This marks the 15th shutdown since 1980, with the last major one lasting 35 days in 2018-19. Senators are scheduled to return Friday to keep voting on proposals to reopen the government.
|
Pharmaceutical giant Pfizer committed yesterday to lowering US drug prices and investing $70B in domestic manufacturing. Several of its medications will be sold at an average 50% discount on a forthcoming federal website, dubbed TrumpRX.
The announcements follow the Trump administration’s Sept. 29 deadline for drugmakers to peg US prices to the lowest price across developed countries. In a May executive order, President Donald Trump accused drugmakers of leveraging US research funds and then upcharging Americans to subsidize lower prices abroad. US drug prices in 2022 were nearly three times higher than those in peer nations, according to a 2024 report. Pfizer’s $70B pledge also exempts it from 100% tariffs on branded drugs, which took effect today for companies not building US facilities.
Trump said his administration is negotiating deals similar to Pfizer's with other drugmakers and threatened action against those that fail to lower domestic prices. Some industry experts caution that Trump's approach could stifle innovation and raise prices globally.
|
Nepal has selected its latest Kumari—a living child goddess revered by Hindus and Buddhists. For years, the girl—2-year-old Aryatara Shakya—will reside in a temple palace, rarely leaving except for festivals, during which devotees bring gifts and worship her.
The Kumari tradition dates back to the Malla Dynasty in the 17th century, when a rift between the goddess Taleju Bhawani and King Jayaprakash Malla is said to have spurred the goddess to be reincarnated in a series of young girls. Today, Buddhist families of the Shakya clan can bring their daughters to senior Buddhist priests and the royal astrologer for consideration. After undergoing tests (reportedly including whether the girl is afraid of the dark), one Kumari is selected. She spends almost all of her time in the temple with limited social interaction. Once the Kumari goes through puberty, another girl is selected.
Some Kumari face physical and social difficulties upon their reintegration into society as mortals. See a documentary about the tradition here.
|
|
|
|
In partnership with SmartAsset
|
|
Capital Gains: Which Expenses Can You Deduct?
|
|
If you’ve built substantial wealth, capital gains taxes may quietly erode far more of your investment returns than you realize. The good news? The tax code offers legitimate ways to potentially help minimize that bill — if you know where to look.
This could be why many investors may work with a financial advisor to help integrate proactive tax planning into their broader wealth management and preservation strategy. Take SmartAsset's free quiz to find vetted financial advisors who may be able to help. Get your financial advisor matches today.
|
|
Please support our sponsors!
|
|
|
|
|
Sports, Entertainment, & Culture
|
> "KPop Demon Hunters" becomes first English-language film to make Netflix's Top 10 chart for 15 straight weeks (More) | "Reading Rainbow" to return to PBS after nearly 20 years; former librarian Mychal Threets is tapped to host (More)
|
> Prosecutors are seeking an 11-year prison sentence for Sean "Diddy" Combs over prostitution-related charges; Combs' sentencing is set for Friday (More)
|
> WNBA signs 11-year deal with new media company Versant to broadcast games on USA Network (More) | Minnesota Wild sign Kirill Kaprizov to an NHL-record eight-year, $136M contract extension (More)
|
|
|
|
|
|
> OpenAI launches social media app for sharing AI-generated videos, positioning the company to compete with TikTok and YouTube Shorts (More) | OpenAI's revenue reaches $4.3B in the first half of 2025, 16% more than its total 2024 revenue (More)
|
> Scientists create early-stage human embryos by fertilizing modified DNA from skin cells with sperm; technique could help people overcome infertility or allow same-sex couples to have genetically related children (More) | Watch 1440 explainer (More)
|
> Archaeologists discover life-sized animal carvings etched into Arabian desert rocks between 12,800 and 11,400 years ago, revealing human activity in the arid desert roughly 2,000 years earlier than previously thought (More)
|
|
|
|
|
|
> US stock markets close up (S&P 500 +0.4%, Dow +0.2%, Nasdaq +0.3%); S&P 500, Nasdaq cap off their best third quarter since 2020 while Dow hits new record (More)
|
> Nvidia's market cap tops $4.5T following string of AI infrastructure deals; chipmaker's stock is up roughly 35% for the year (More) | CoreWeave shares rise above 11% after signing $14.2B AI cloud infrastructure deal with Meta (More)
|
> Spotify founder Daniel Ek steps down as CEO to become executive chairman; chief business officer and chief product and technology officer to become co-CEOs (More)
|
|
|
|
> President Donald Trump and Defense Secretary Pete Hegseth speak to gathering of high-ranking generals and admirals; call for higher standards for physical fitness and grooming, crackdown on US cities (More) | See full speeches (More, w/video)
|
> The US deports at least 120 Iranians accused of entering the country illegally in rare coordinated action announced by Iran; the US has not commented as of this writing (More)
|
> President Donald Trump says he has reached a deal with Harvard University to reinstate $2.4B in federal funding (More) | Federal judge rules deportations of pro-Palestinian noncitizen students violated their First Amendment rights (More)
|
|
|
|
In partnership with SmartAsset
|
|
7 Mistakes When Choosing A Financial Advisor
|
|
Please support our sponsors!
|
|
|
|
|
New on the 1440 Topics Website
|
|
1440 Topics pairs staff-written overviews with the best resources we've found, curated in a single place for you to explore. We've added:
|
|
> A continuously updated stream of great new content—including a podcast exploring the 1929 Wall Street crash.
|
|
> China's bargain Amazon competitor: Tomorrow's 1440 Business & Finance newsletter looks at Temu, and its aggressive campaign to woo US consumers. Click here to subscribe!
|
|
|
|
|
|
"Sometimes opportunities float right past your nose. Work hard, apply yourself, and be ready. When an opportunity comes you can grab it."
|
|
|
Behind the Name. In 1440, the printing press sparked a knowledge revolution. We carry that spirit forward, cutting through the noise and algorithm-driven feeds, to bring fact-driven knowledge to everyone.
Want to connect with 4.5 million insatiably curious minds? Become a 1440 partner here.
|
|
1440 Media 222 W Merchandise Mart Plaza, Suite 1212 Chicago, IL 60654
Copyright © 2025, 1440 Media, All rights reserved. Privacy Policy.
|
|
|
|
|
|
|
|