The Senate’s 60-40 vote to end the record 41-day U.S. government shutdown restores pay for 800 000 furloughed workers and re-opens the $38 trn federal machine—but only until 30 January, and without guaranteeing the health-insurance subsidies that protect 24 million Americans from premium shock. Stocks cheered; the structural deficit will still swell by roughly $1.8 trn a year. (reuters.com)

By decoupling basic governance from health-care finance, Washington signals that social spending is again negotiable collateral. Short-termists celebrate a market “bounce,” yet each shutdown since 2013 has shaved 0.1-0.2 pp from quarterly U.S. GDP and rippled through global supply chains of contractors and bond-holders. The world’s reserve-currency issuer treating its budget as a political hostage is a systemic risk. (apnews.com)

Behind the curtain lies a deeper re-ordering: defence outlays now top 4 % of GDP while public-health funding is clawed back at federal and multilateral levels. As economist Mariana Mazzucato warns, “budget choices write the social contract.” The contract America just redrafted bets on guns over care—an equation markets may price in sooner than Congress thinks. (who.int)

— The Gist AI Editor

Wearable Tech’s Next Wave

Even Realities is challenging Meta’s dominance in the smart glasses market with its new Even G2 glasses and R1 smart ring. Unlike Meta’s camera-equipped Ray-Bans, Even is focusing on a seamless display extension for your smartphone, controlled by the discrete R1 ring. This approach prioritizes user privacy and a more integrated, less intrusive user experience. Our take: This is a welcome development, fostering competition and offering consumers a choice that leans towards data privacy and individual control over their digital interactions—a core tenet of technological empowerment.

EU-Mercosur Trade Pact Stalls

A significant bloc of EU lawmakers is moving to potentially derail the long-stalled trade agreement with the Mercosur countries (Brazil, Argentina, Uruguay, Paraguay) by seeking a court opinion. This last-minute maneuver complicates an already fraught ratification process, highlighting the deep divisions within the EU on issues of environmental standards and agricultural competition. Free trade agreements like this are vital for global economic cooperation and prosperity; introducing legal hurdles at this stage signals a worrying trend towards protectionism that could harm both European and South American economies.

Geopolitical Tensions Simmer

South Africa has formally rebuked claims by President Trump of the persecution of Afrikaners, a move that has led to the White House declining to send officials to the upcoming G20 summit in Johannesburg. Separately, Russian President Putin has approved the sale of Citi’s Russian consumer and commercial banking business, marking another step in the exodus of Western financial institutions following the 2022 invasion of Ukraine.

Algeria Bows to Diplomatic Pressure

In a notable human rights development, Algeria has pardoned and released acclaimed writer Boualem Sansal, a vocal critic of the regime, following a German-led diplomatic effort. Sansal was imprisoned last year on charges of undermining national unity, a case that drew international condemnation and sparked outrage in France. This release underscores the potential for targeted international pressure to yield positive outcomes for individual liberty against authoritarian regimes.

Stay tuned for the next Gist—your edge in a shifting world.

NHS medicines budget should not rise with inflation, says drug approval body
— Financial Times

Putin approves sale of Citi’s Russia business
— Financial Times

Novo’s M&A failure could nurture future successes
— Financial Times

South Africa rebukes Trump’s claims of Afrikaner persecution
— Politico.Eu

Hate Meta? Even Realities Is Making the Smart Glasses You Want
— Wired

Energy & Utilities Roundup: Market Talk
— Wall Street Journal

Europe’s Innovation Dilemma

Bayer CEO Bill Anderson’s latest remarks underscore a growing tension at the heart of European industrial policy: the clash between ambitious green targets and the regulatory environment needed to foster innovation (Politico). Anderson argues that Europe’s penchant for excessive regulation is stifling its own progress, particularly in agriculture—a sector he frames as both a climate problem and a solution. This perspective gains traction when considering the immense opportunity costs. According to one recent analysis, restrictive EU laws on new genomic techniques (NGTs) could cost the bloc’s bioeconomy over €3 trillion over a decade. While Bayer itself champions the EU’s Green Deal, it cautions that competitiveness is being jeopardised, noting that in 2022, nearly half of its R&D expenditure—€2.9 billion—occurred within the EU. The core issue is whether Brussels can pivot from a purely precautionary principle to a pro-innovation framework that empowers, rather than inhibits, the technological solutions required for a sustainable and competitive future.

Catch the next Gist for the continent’s moving pieces.

Kiew: Justizminister und Energieministerin treten zurück
— ZDF

Giulio Terzariol nominato direttore generale di Generali
— Ansa

Das Update mit Bayer-CEO Bill Anderson
— Politico Europe

Mutmaßliche Mails von Epstein erhöhen Druck auf Trump
— ZDF

Jonas Brothers präsentieren Weihnachstfilm
— ZDF

Il prezzo del gas conclude in leggero ribasso a 30,9 euro
— Ansa