With a possible US government shutdown just five days away, the House of Representatives is set to try to advance steep spending cuts even if the bills are likely to be rejected by the Democrat-controlled Senate. If Congress fails to provide funding for the fiscal year starting October 1, services will be disrupted and government workers squeezed. In particular, officials are warning of the consequences for people receiving food aid, including nearly 7 million low-income women and children.

The White House is warning of severe economic consequences if Congress fails to pass a funding bill by an October 1 deadline. Far-right House Republicans are demanding deep spending cuts that are almost certain to be rejected by the Democratic-controlled Senate. Also in this edition: France asks its energy firms to sell fuel at cost, and Germany looks to semiconductor production to revive its flagging industrial sector.

After beginning a strike one week ago, the United Auto Workers union has increased the number of plants affected by industrial action. Until now, workers have been striking at three sites, one each for Ford, General Motors and Stellantis. UAW leader Shawn Fain says that will be increased to 38 factories, all of them GM and Stellantis parts distribution centres. Ford has been spared of further disruption, with the union saying the company has made "important concessions".

Seventy years after inheriting the Australian newspaper that he used as a foundation to build a global empire, media mogul Rupert Murdoch says his son Lachlan will replace him as chair of Fox Corporation and News Corp. However, Murdoch senior has signalled he will still be very present in decision-making and "contests of ideas", becoming chair emeritus of the firms, which have a market capitalisation of some $27 billion.

The United Auto Workers and the US's Big Three carmakers remain far apart in their negotiations as time is running out before the union plans to escalate its strike on Friday. Last week, workers walked off the job at three plants, each belonging to Ford, General Motors and Stellantis. Also in this edition, the US Federal Reserve leaves interest rates unchanged. Plus, Japanese conglomerate Toshiba could go private after being on the stock market for 74 years.

Investors around the world are awaiting the conclusion of the Federal Reserve meeting in Washington this Wednesday. While there is a wide consensus that the US central bank will leave its key interest rate unchanged, observers will be looking for clues as to how much longer the Fed's cycle of monetary tightening will continue. Han Tan, chief market analyst at Exinity, tells us why this matters and what to look out for. Also in the show, the UK sees a surprising inflation slowdown in August.

Google has turned to Europe's highest court in a bid to get it to overturn a massive antitrust fine levied against it six years ago. The €2.4 billion penalty handed down in 2017 over its shopping service was the first of three major fines that cost the internet giant more than €8 billion. Also, faced with the skyrocketing cost of living, Spain's youth are struggling to become financially independent. The average age to leave the parental home has now risen above 30.

Negotiations between the Canadian Unifor union – representing 5,700 workers – and carmaker Ford have been extended for another 24 hours after a prior labour contract expired at midnight on Monday. A strike could be on the cards if a deal is not found by then. Meanwhile, the US's major auto industry union is picketing against Ford, GM and Stellantis. Also in this edition, the EU's digital chief raises concerns over Chinese data laws. Plus, olive oil prices reach record highs.

French retail giant Carrefour has started putting stickers on products that have shrunk in size but that cost the same or even more, in a bid to warn customers against "shrinkflation". The move comes ahead of new contract talks that are set to begin soon. Meanwhile, the government is planning to temporarily lift a ban on retailers selling fuel at below-cost, in order to help households struggling to cope with stubbornly high inflation.

General Motors, Stellantis and Ford are being hit by walkouts Friday after talks broke down between the automakers and the United Auto Workers union. It's the first time all three companies have been affected by a strike simultaneously, which is being described as the "most ambitious US industrial action in decades". Workers' demands include a 36% pay increase, shorter working hours and an end to varying tiers of wages for factory jobs.