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According to the Financial Times, Reform UK says it will cut the civil service by nearly half and eliminate hundreds of thousands of jobs if it wins power, as part of its plan to radically reform how the government operates.

The European Automobile Manufacturers Association (EAMA) reported that electric vehicles accounted for 73.3% of new registrations in the EU, UK, and EFTA in August.

The European Automobile Manufacturers Association (EAMA) reported that passenger car registrations in the EU, UK, and EFTA rose 5.3% year-on-year in August, and 5.8% year-to-date.

Market news: Traders say the Reserve Bank of India may sell dollars to limit the depreciation of the rupee.

Market news: According to sources, the Reserve Bank of India has conducted at least $10 billion in currency swap operations in recent weeks to reduce liquidity in the financial system.

**Background: Why the Sudden Discussion of an Embargo?** 1. US diesel prices continued to surge in 2026. By late September, the national retail price of diesel had exceeded $6.50 per gallon, setting a nominal price record. The underlying supply shocks were mainly related to the Iran-Iraq War, supply disruptions related to the Strait of Hormuz, and Ukraine's attack on Russian refineries. Simultaneously, the US entered its agricultural harvest season, with farmers and the trucking industry experiencing particularly strong demand and price pressures on diesel. The US itself is a major global diesel exporter, with diesel exports currently estimated at approximately 1.5 million barrels per day in 2026, an increase of about 275,000 barrels per day compared to the same period in 2025. Core Timeline1. September 17: US Republican Representative Tim Burchett from Tennessee introduced two bills: one to extend the diesel export ban until January 2027; the other to automatically trigger export restrictions when the national diesel price reaches $5/gallon. (The "diesel export ban" at the congressional level has officially intensified.)2. Around September 17: US Senate Majority Leader John Thune expressed his willingness to study diesel export restrictions. (This indicates that the discussion has expanded from individual senators' initiatives to the top Republican leadership.)3. September 19: US Senator Chuck Grassley from Iowa publicly called on Trump to stop diesel exports; Interior Secretary Doug Burgum stated that an export ban would only be considered if it could actually lower prices. (Significant divisions began to emerge within the executive branch.) 4. September 21: Republican lawmakers from agricultural states, including Grassley, Ashley Hinson, and Mariannette Miller-Meeks, further demanded a halt to diesel exports; diesel prices rose to approximately $6.51 per gallon. (Political pressure escalated significantly.) 5. September 22: Trump publicly stated during the UN General Assembly, "I've called for that, too," indicating his own advocacy against diesel exports; Treasury Secretary Bessant stated that the government was studying the feasibility of a full or partial ban. (This was a key turning point: the president shifted from a cautious stance to publicly supporting the study of a ban.) 6. September 22: S&P Global analysis suggested that a complete ban on diesel exports could require US refineries to reduce crude oil processing by approximately 1.9 million barrels per day, or about 12% of total US refinery processing. (The market begins to seriously assess the actual supply chain impact of the ban.) 7. September 23: Politico reported that the Trump administration was preparing a 90-day diesel export ban; after the news broke, US diesel futures fell significantly. (The market began trading on the expectation that the ban was about to be implemented.) 8. September 23: White House officials denied that the US was preparing a 90-day diesel export ban; Energy Secretary Chris Wright also stated that no one was considering a "one-size-fits-all" diesel export ban. (A clear distinction emerged between "preparing to implement" and "studying options.") 9. September 24 (currently): The ban has not yet been officially announced; there are disagreements within the administration regarding the effectiveness of the ban. (The matter is still in the policy discussion stage.)

The Australian government says an OpenAI agent gained unauthorized access to government health data portal files in June, potentially marking the first instance of an AI agent infiltrating a government website. This incident is just one of several large-scale data breaches in Australia in recent years, prompting experts to warn of inadequate cybersecurity capabilities. The following are some of the major data breaches in recent years:1. September 2022: OptusOptus, Australia's second-largest mobile operator, reported a data breach. This affected 9.5 million customers, approximately 40% of Australia's total population. The leaked data included home addresses, driver's license information, and passport numbers.2. October 2022: WoolworthsWoolworths, Australia's largest supermarket chain, stated that its subsidiary, online retailer MyDeal, discovered that a "victimized user credential" was used to access its systems, resulting in the exposure of email addresses, phone numbers, and delivery addresses for approximately 2.2 million customers. 3. November 2022: Medibank Medibank, Australia's largest health insurance company, announced that the personal information and health claims data of approximately 9.7 million current and former customers, representing about one-sixth of the Australian population, were compromised. 4. March 2023: Latitude Financial Services Latitude, an Australian digital payments and lending company, announced that in March 2023, a hacker stole millions of customer records, including 7.9 million Australian and New Zealand driver's license numbers. 5. May 2024: MediSecure Electronic prescription service provider MediSecure disclosed a cyberattack. The company subsequently stated that the attack resulted in the breach of personal and health information for approximately 12.9 million people, making it one of the largest cyberattacks in Australian history. The scale of the breach ultimately forced the company into escrow. 6. July 2025: QantasQantas, Australia's largest airline, stated that in July 2025, a data breach occurred on a third-party platform, exposing the personal information of 5.7 million customers. 7. August 2026: Origin EnergyOrigin Energy, Australia's largest electricity and gas supplier, stated that a data breach at the end of July resulted in the exposure of credit card and bank account information for approximately 900,000 current and former customers.

Japanese Chief Cabinet Secretary Minoru Kihara: Ensuring fiscal sustainability and market trust is of paramount importance.

According to Japanese media reports, Honda plans to bring forward the mass production of its next-generation hybrid model by several months, aiming to begin production of the hybrid CR-V SUV in North America around February 2027. The Japanese automaker previously announced in March the cancellation of three models for the North American market, including two flagship electric models originally scheduled for 2026. This decision resulted in Honda having no new model plans until the spring of 2027. With competitors such as Toyota and Hyundai increasing their investments in hybrid technology in North America, Honda hopes to shorten this product gap and prevent customers from switching to competitors by launching its own hybrid model earlier.

Hong Kong-listed AI stocks saw some activity, with XunCe (03317.HK) rising over 6%, and SenseTime (00020.HK) and MINIMAX-W (00100.HK) also gaining.

Japanese Finance Minister Katayama Satsuki: Will not comment on foreign exchange levels.

Japanese Finance Minister Satsuki Katayama: The foreign exchange principles established since the coordinated intervention by Japan and the United States remain valid.

Australia's part-time employment population was 45,800 in August, compared to a decrease of 32,200 in the previous month.

Australia's employment increased by 39,500 in August, compared to an expected 20,000 and a previous decrease of 15,800.

Australia's full-time employment fell by 6,300 in August, compared to 16,300 in the previous month.

Australia's seasonally adjusted labor force participation rate in August was 67.1%, below the expected 66.90% and the previous reading of 66.90%.

Australia's seasonally adjusted unemployment rate in August was 4.6%, compared to a forecast of 4.50% and a previous reading of 4.50%.

The Hang Seng China Enterprises Index (HSI) opened down 184.67 points, or 0.74%, at 24,649.45 on Thursday, September 24. The Hang Seng Tech Index opened down 34.22 points, or 0.78%, at 4,344.85 on Thursday, September 24. The Hang Seng China Enterprises Index (HSCEI) opened down 58.26 points, or 0.7%, at 8,215.55 on Thursday, September 24. The Hang Seng Red Chip Index (HSC) opened down 19.15 points, or 0.48%, at 4,008.06 on Thursday, September 24.

Australia's seasonally adjusted unemployment rate for August will be released in ten minutes.

According to the Wall Street Journal: Sources say that lobbying groups in the oil and gas industry are launching a coordinated campaign to oppose the diesel export ban, with executives from ExxonMobil, Chevron, and Phillips 66 involved in the raid.