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Donald Trump reached a deal with Republicans and Democrats that will fund the US government until December 15, and provide a short-term increase in the debt ceiling, in a temporary measure that pushes back a bruising battle over must-pass legislative measures. The move provides a minor reprieve from the uncertainty and chaos surrounding the functioning the US government, but may have come at the cost of the frequently fragile relationship between congressional Republicans and Mr Trump. 

Meanwhile, Stanley Fischer submitted his resignation as vice-chairman of the Federal Reserve, adding to the turbulence at the US central bank as it faces a host of vacancies at its most senior levels. (FT, WaPo)

In the news

Irma makes landfall
Hurricane Irma ripped off roofs and knocked out communications on the Caribbean island of Antigua as it barrelled towards Florida, which braced for fierce winds and tidal surges from the most powerful Atlantic hurricane in recorded history. Irma could hit Florida by the weekend, and a mandatory evacuation has been ordered in the state’s Key West area. If Irma does make landfall, it would be one of only four Category 5 hurricanes to have hit the US mainland since records began. Here’s an interactive map of Irma’s devastating path. Here are five things to know about the storm. (FT, NYT, WSJ)

Downing Street urges UK execs to sign Brexit letter
Britain’s biggest companies have been asked to publicly state their support for the UK government’s approach to Brexit, angering many executives who say they will not be “strong-armed” by ministers. The FT talks to top executives, who were fairly sceptical: “You’d have to be craven, or manoeuvring for a knighthood”. Meanwhile, the EU is demanding Britain legislate to protect products such as Champagne, Parmesan and Beaufort cheese after Brexit. (FT)

EU plans to raise taxes on tech giants
Finance ministers are set to discuss a change next week that would increase taxes on the likes of Google and Amazon amid increasing pressure in Europe over the low taxes digital multinationals pay. (Reuters)

Erdogan to EU: go ahead, make my day
Turkish leader Recep Tayyip Erdogan is daring European leaders to quash Turkey’s bid for EU membership, telling them to “do the necessary thing” if they could no longer tolerate working with his country. The proposal to scrap Turkeys’ EU bid is expected to be discussed at a two-day meeting of European foreign ministers in Tallinn, the Estonian capital, due to begin on Thursday. (FT)

Aung San Suu Kyi under fire
The Nobel laureate and de facto leader of Myanmar is under growing criticism for failing to condemn her country’s military crackdown on minority Rohingyas that has spurred reports of killings and burning of homes and raised concern in Muslim countries. Human rights groups have taken Aung San Suu Kyi to task for not using her authority to influence the activities of security forces. Here’s Roula Khalaf on “The Lady’s” “reckless acceptance of human rights abuses”. (FT)

Goldman Sachs suspends HNA work
The Wall Street bank suspended work on a planned fundraising for a unit of HNA Group after the US investment bank determined the acquisitive Chinese conglomerate did not meet its due diligence standards. (FT)

Fortress UK
leaked document from Britain’s Home Office has revealed how London plans to implement an end to free movement for EU immigrants immediately after Brexit. The draft advocates the imposition of a strict immigration policy which will impose tough hurdles to work in the UK for all but the mostly highly skilled EU migrants. Lower-skilled workers would be able to obtain residency for a maximum of two years. The 82-page paper, dated August 2017 and marked as “extremely sensitive”, has triggered sharp responses from British politicians, with some calling it “mean and cynical”. (Guardian, FT)

Critic of Hindu nationalism murdered 
A prominent Indian journalist known for her outspoken criticism of rightwing Hindu nationalist politics has been shot dead outside her home in Bangalore, sending shockwaves through India’s media industry. Gauri Lankesh, 55, was highly critical about the rising tide of threats, intimidation and violence against those opposed to Hindu nationalism. (FT)

Nissan’s electric drive 
The carmaker is betting that global demand for electric vehicles is about to blossom, especially in China, as it unveiled the second generation of its Leaf EV, with a much longer driving range, a sleeker look and a cheaper sticker price than rival Tesla. (NAR)

The day ahead

ECB meeting
The European Central Bank’s policymakers meet in Frankfurt this week for the first of what is likely to be two crunch meetings on plans to end their €2tn quantitative easing programme. The eurozone’s top central bankers will gather at the ECB’s headquarters in Germany’s financial capital to begin discussions on how to taper QE. They are also likely to discuss the euro’s rise. No final decision is expected on tapering until late October, but ECB president Mario Draghi will reveal the governing council’s latest thinking on the eurozone’s recovery — a hint as to how soon the central bank will end QE. (FT)

Keep up with the important business, economic and political stories in the coming days with the FT’s Week Ahead.

What we’re reading

Donald Trump is mugging the American dream
Ed Luce writes on Mr Trump’s “visceral” obsession with undoing Barack Obama’s legacy: “Mr Trump is like Captain Ahab on a never-ending hunt. Unlike Ahab’s whale, however, Mr Obama cannot be harpooned.” (FT)

View from the street 
Google updated its Street View cameras for the first time in eight years last month. The data that have started to come back will strengthen Google’s digital grip on the world — that’s because the new hardware wasn’t designed with just human eyes in mind. (Wired)

Not ‘as close as lips and teeth’ 
China has made little secret of its long-term goal to replace the US as the major power in Asia. But North Korea has emerged as an unexpected and persistent obstacle. This well-written long read examines history and shows how that situation is partly one of its own making. (NYT)

The guilt of the one per cent
In Uneasy Street, Rachel Sherman, a sociologist at the New School, recounts her interviews with about 50 New York parents whose annual incomes ranged from $250,000 to $10m. They reveal that the city’s rich are plagued with self-doubt and keen to justify their wealth. (FT)

Video of the day

South Korea and US push for North Korea sanctions 
The US and South Korea are pressing for another round of trade sanctions against North Korea, as attempts to force a regime to end its weapons programme diplomatically continues. (FT)

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