Sunday, April 30 — 3 significant news

Today ChatGPT read 1032 articles and gave 3 of them a significance score over 6.5.

[7.5] US debt ceiling debate threatens economic catastrophe. — The Guardian

The US federal government has a legal maximum on how much debt it can accumulate, often called the debt ceiling or the debt limit. Congress has to vote to raise that limit and has done 78 times since 1960. This year's fight over the debt ceiling is the most high-risk one since 2011, when Republicans used the debt limit debate as a bargaining chip for spending cuts. The US treasury is already running on fumes, and some estimate that the US government's default date will arrive in late July. Failure to find a solution would send stock markets reeling, recipients of federal benefits might not get their monthly checks, parts of government would grind to a halt, and "long-term damage" would be inflicted on the US economy, according to the Federal Reserve chair, Jerome Powell.

[6.6] Pfizer and BioNTech propose half-price Covid-19 vaccines to EU. — RTE.ie

Pfizer and BioNTech have proposed a new deal to the EU, offering member states the option to pay half price for around 70 million cancelled Covid-19 vaccine doses. The revised contract would enable the EU to upgrade to vaccines tailored for future Covid-19 variants. The proposal comes as the EU plans to revamp pharmaceutical industry laws to encourage investment and improve access to affordable drugs.

[6.5] Arm, a British semiconductor and software design company, has filed confidentially for a U.S. stock market listing in what could be this year's largest IPO. — Reuters

SoftBank Group's chipmaker Arm, which specializes in designing low power, high-performance processors and related technologies used in a variety of devices, has confidentially filed for an IPO in the US stock market. Arm's IPO is significant as it is planning to raise between $8 billion and $10 billion and could be this year's largest initial public offering. Despite market volatility and economic uncertainty, SoftBank is pushing forward with the IPO after its deal to sell Arm to Nvidia for $40 billion was blocked by regulatory concerns.

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