WSJ What’s News – PM Edition (October 2, 2025)

Main Theme:
This episode primarily covers the deadly terrorist attack at a Manchester synagogue, contextualizing rising antisemitism in the UK, and then shifts to significant political and business developments globally—including the ongoing US government shutdown, a potential aid package for farmers, US-Ukraine defense cooperation, a Delta Air Lines taxiway accident, and Tesla’s record-breaking sales quarter.

1. The Manchester Synagogue Attack

[00:18–02:13]

Summary of the Incident

• Event: A terrorist attack occurred outside the Heaton Park Synagogue, Manchester, UK, during Yom Kippur.
• Impact: 2 dead, 4 seriously injured.
• Method: The attacker rammed a car into a group then stabbed a bystander. Security guards and worshippers prevented his entry. He wore what appeared to be explosive devices. Police shot him dead within minutes.
• Significance: Highest-profile antisemitic incident in the UK in two years, amidst a rise in antisemitism since the Gaza conflict.

UK Response and Public Concern

• Rising Antisemitism: Growing isolation and concern among British Jews.
• Government Reaction: UK Prime Minister Keir Starmer condemned the attack and stated extra security measures are being enacted at synagogues nationwide.
• Notable Quote:

  "While this is not a new hate, this is something Jews have always lived with, we must be clear. It is a hatred that is rising once again and Britain must defeat it once again."
  — Keir Starmer [01:59]

2. US Political Developments

[02:13–05:49]

Trump Administration's Response to Tariffs & Shutdown

• Farm Aid Considered: The White House is discussing at least $10B in aid to US farmers affected by tariffs, potentially using tariff revenue as funding.
• Shutdown Standoff: The government shutdown enters its second day; pressure mounts between Democrats (demanding healthcare subsidy extension) and Republicans (refusing negotiation as long as the government’s closed).
• White House Strategy: Press Secretary Caroline Levitt indicates that thousands of potential layoffs are being considered to pressure Democrats.
  • Quote:

    "It's likely going to be in the thousands. ... These discussions and these conversations, these meetings would not be happening if the Democrats had voted to keep the government open."
    — Caroline Levitt [03:34]

Political Risk & Public Opinion

• Analyst Perspective: Trump’s plan to use the shutdown to force negotiations entails significant political risk, especially concerning the possible lapse of Affordable Care Act subsidies.
• Polling: Majority blame Republicans for shutdown, but public opinion is still split.
• Notable Quote:

  "Millions of Americans, including a lot of Trump voters and people in states that Trump won, receive those subsidies, and if they go away, their premiums are going to skyrocket. That's a big risk for Trump and his fellow Republicans heading into the midterms."
  — Alex Leary [04:49]

3. International Affairs

[05:54–07:17]

US-Ukraine Defense Technology Deal

• Deal in Progress: Ukraine in talks with the US to share its advanced, battle-proven drone technology. In exchange, Ukraine would receive royalties or other compensation.
• Significance: Marks a notable shift—Ukraine, once a recipient of US weapons, is now a producer of sought-after military technology.
• Government Stance: Supported by both President Trump and Ukraine’s President Zelensky.
• Deal Value: Could be worth billions, with negotiations expected to take months.

Delta Air Lines Incident at LaGuardia

• Event: Two regional Delta jets collided at low speed—no passenger injuries; one flight attendant hospitalized (non-life-threatening).
• Operational Impact: None; investigation ongoing.

4. Tesla’s Surprising Sales Jump

[07:48–10:01]

Record Sales and Underlying Drivers

• Highlight: Q3 Tesla deliveries up 7.4% YoY—a turnaround after two consecutive quarters of decline.
• Reason: The expiring $7,500 federal EV credit on Sept 30 prompted a last-minute surge in purchases, benefiting not only Tesla but competitors like GM and Rivian.
  • Quote:

    "On September 30, this $7,500 federal EV credit exp spurred a lot of consumers to make that purchase at the last minute. So we saw Tesla sales surge, but we also saw great sales at its competitors for GM, Rivian."
    — Becky Peterson [08:11]

The Road Ahead for Tesla

• Sustainability of Growth: Analysts predict future sales may not keep pace; rival Rivian has revised its own forecasts downward. Tesla is pivoting toward "Cybercab" (fully autonomous vehicle) and robotics.

  • Quote:

    "The next car that they're set to release is the Cybercab, which doesn't have a steering wheel or pedals. So it's hard to see how the sales numbers are going to keep up when it will require such a big shift for consumers to be buying their cars."
    — Becky Peterson [08:48]

• No New Consumer Incentives Announced: Unlike others, Tesla remains focused on future technologies, not direct EV sales incentives.

Stock Market Reaction

• Tesla Stock: Despite positive sales, shares dipped after a recent run-up, but are still up 21% YTD.
  • Quote:

    "Tesla's stock tends to be a rollercoaster, so it's not always tied to its performance."
    — Becky Peterson [09:47]

5. Business and Tech Briefs

[10:01–End]

• Market Rally: NASDAQ (+0.4%), Dow (+0.2%), S&P 500 (+0.1%).
• FICO News: Now offering mortgage lenders direct credit scores, undercutting Experian, Equifax, TransUnion—causing FICO shares to surge, credit bureaus tumble.
• OpenAI Investment: $500B valuation as SoftBank, UAE-based MGX, and others buy $6.6B in employee-owned shares—a sign of ongoing AI investor enthusiasm.

Featured Quotes & Timestamps

• Keir Starmer (UK Prime Minister):
  "While this is not a new hate, this is something Jews have always lived with, we must be clear. It is a hatred that is rising once again and Britain must defeat it once again." [01:59]

• Caroline Levitt (White House Press Secretary):
  "It's likely going to be in the thousands. ... These discussions and these conversations, these meetings would not be happening if the Democrats had voted to keep the government open." [03:34]

• Alex Leary (WSJ White House Reporter):
  "Millions of Americans, including a lot of Trump voters and people in states that Trump won, receive those subsidies, and if they go away, their premiums are going to skyrocket. That's a big risk for Trump and his fellow Republicans heading into the midterms." [04:49]

• Becky Peterson (WSJ Tesla Reporter):
  "On September 30, this $7,500 federal EV credit exp spurred a lot of consumers to make that purchase at the last minute. So we saw Tesla sales surge, but we also saw great sales at its competitors for GM, Rivian." [08:11]
  "The next car that they're set to release is the Cybercab, which doesn't have a steering wheel or pedals. So it's hard to see how the sales numbers are going to keep up when it will require such a big shift for consumers to be buying their cars." [08:48]
  "Tesla's stock tends to be a rollercoaster, so it's not always tied to its performance." [09:47]

Key Timestamps

• 00:18: Synagogue attack coverage begins
• 01:59: Starmer’s statement
• 02:13: US farm aid, government shutdown segment begins
• 03:34: White House Press Secretary on job cuts
• 04:49: Political risk of ending health care subsidies
• 05:54: Ukrainian drone technology deal
• 07:48: Tesla’s sales record and analysis
• 10:01: Business and tech news wrap-up

This episode delivers fast-paced, factual reporting on major current events, seamlessly blending hard news analysis with concise business updates—living up to the show’s "What’s News" promise.