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October 13: Omar Home Raid and IMF Warning on AI Stocks
In U.S. politics
Federal immigration officers raided Democratic Representative Ilhan Omar’s Washington home before dawn Monday. The Justice Department says they executed a court-authorised search warrant in an ongoing federal investigation. A source close to the investigation said it concerns alleged immigration fraud, including paperwork Omar’s late father completed when she was a child. Omar accused President Trump’s administration of using the government to target a political opponent.
In California, Governor Gavin Newsom endorsed Proposition 42 on Friday. If voters approve it, the measure would prohibit retroactive taxes imposed by Proposition 40, the proposed Billionaire Tax Act. Newsom is backing the measure to block that proposed one-time tax on the state’s billionaires.
In Ukraine
President Trump insists an energy ceasefire between Russia and Ukraine remains in place. Ukraine’s president says Russian attacks on energy infrastructure are continuing, and strikes on Ukrainian energy sites have been reported. Separately, a Russian drone struck an apartment block in Kyiv, killing one woman and injuring at least five people.
In the global economy
The International Monetary Fund warns that a crash in artificial-intelligence stocks could spread across global markets and threaten financial stability. Its Global Financial Stability Report points to high AI company valuations and growing debt, alongside risks from government borrowing and cyberattacks.
The fund has also raised its global growth forecast for 2026 to 3.1 percent, citing resilient economies and AI investment. It expects eurozone growth of 1.1 percent. But the IMF warns that conflict-linked energy prices will weigh on growth, while low emergency oil stocks and overstretched government budgets could test the world economy’s resilience.
In French cybersecurity
A cyberattack targeting supermarket refrigeration systems in France has spoiled food and left shelves empty. Hackers reportedly raised refrigerator temperatures, with fires and losses running into the millions also reported.
At the SAS inquiry
An inquiry has heard testimony that military police were prevented from following evidence during an investigation into suspected murders involving the SAS. A military police investigator said the probe was dictated from above.
At Six Flags
One person has died and several others have been injured in a roller coaster incident at Six Flags. Aerial footage taken afterward showed a stuck roller coaster with riders being helped off.
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