Good morning. The US government shutdown becomes the second longest ever. Donald Trump may or may not meet with Xi Jinping. And work conferences remain unglamorous—just ask those being put up in a cruise ship. Listen to the day’s top stories.

— Alexandria Arnold

The US government shutdown has now become the second longest in history (we’re at Day 22) and lawmakers and aides say they see a real possibility the closure could extend into November. Donald Trump has urged Senate Republicans to stand firm and said he’ll meet with Democratic leaders only after the impasse ends. In the meantime, farmers will get some help that had previously been halted.

The US president appeared more eager regarding a potential meeting with his Chinese counterpart, Xi Jinping, saying talks would yield a “good deal” on trade. But Trump also said a meeting might not even happen. The two are scheduled to meet later this month at a summit in South Korea but nothing’s been penciled in yet.

While Trump looks toward Asia—and he’s set to head there later this week—JD Vance is in the Middle East, where he praised a ceasefire between Israel and Hamas despite a flareup in violence over the weekend.

Argentina’s peso slumped to a record low as pressure builds on President Javier Milei in the run-up to Sunday’s midterms, despite repeated US intervention in the nation’s markets. Skepticism is growing that US Treasury Secretary Scott Bessent can pull off the second half of a $40 billion rescue package for the Latin American country. 

And some corporate news: Anthropic and Google are in talks about a deal that would provide the former with additional cloud computing power valued in the high tens of billions of dollars, according to people familiar. Meanwhile, Apple’s effort to reinvent the iPad by adding a foldable screen has hit some development snags.

Deep Dive: Selling the Louvre Loot

A brooch previously belonging to Empress Eugenie and stolen from the Louvre. Photographer: JB Reed

The heist at the Louvre Museum has been so widely publicized that the plundered necklaces, tiaras and earrings certainly can’t be sold or worn in public. So what could happen to the jewels?

• The black market already carries deep discounts, so selling the jewels separately may be more discrete but won’t be straightforward. 
• The alternative is that the jewels—diamonds, emeralds, sapphires—and gold could be broken up and melted down, making the materials virtually unrecognizable. 
• Not in the market? The Louvre has finally reopened so visitors can admire other national treasures. 

The Big Take

The heavily damaged French Broad River Park in North Carolina. Photographer: Mike Belleme for Bloomberg Businessweek

In a US buffeted by extreme weather, disaster spending is becoming a significant and growing portion of the economy.

Opinion

Gold has been having a great year, but its sudden price drop may signal the run’s final phase, rather than the top, John Authers writes. 

Our daily word puzzle with a plot twist.

Today’s clue is: Digital contract?

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Before You Go

The Piano Land cruise ship will serve as a floating hotel for the APEC summit. Photographer: China News Service

The Asia-Pacific Economic Cooperation summit in South Korea later this month is meant to highlight the country’s diplomacy and efficiency. But as organizers turn to parked cruise ships to house some delegates, it’s instead exposing the strain of hosting a major global event in a city never built for it.