I'll round up today's biggest headlines for you.
Most important events and topics in the news today - October 16, 2026:
1. U.S. Politics & Economy - Government Shutdown and Inflation
•Government shutdown continues into 4th week - The White House said the October inflation report is unlikely to be released next month, marking a potential first in over seven decades without this critical indicator because Bureau of Labor Statistics has halted collection and publishing. Separately the White House said it likely means there won't be an inflation report next month for the first time in more than seven decades.
•Air travel risk - More than 13,000 U.S. air traffic controllers face rising stress and financial insecurity after Tuesday's disbursement of what will be their last paycheck during the shutdown.
•Economic cost - The economy could lose $14 billion in real gross domestic product if the shutdown continues for another month.
•Inflation rising before midterms: Official figures released ahead of next month's midterm elections showed annual inflation rate climbing to 3.7% for the 12-month period ending in September, up from 3.4% the previous month. The 3.7% reading is described as the highest since May and was the top business headline pushing U.S. inflation to 3.7 percent.
2. Middle East - Escalation in Gulf and Yemen
•Houthi attacks on Saudi Arabia: Iran-backed Houthis strike Saudi oil company Aramco's headquarters, officials say. News trends summarize this as Houthis strike Saudi oil company Aramco's headquarters.
•Yemen: Houthi Missiles Strike Government Headquarters in Yemen - Iran war live: Five killed, 16 wounded in Houthi attack on palace in Aden.
•Strait of Hormuz shipping crisis: Strait of Hormuz attacks sank two ships hit by projectiles, Reuters reports, as Iran ramps up strikes. This was also described as Two cargo ships sink near the Strait of Hormuz as attacks threaten a critical global shipping route. On Oct 15, another tanker ablaze near Hormuz after two ships sunk in attacks.
3. Russia-Ukraine War
•Truce collapses: Ukraine abandons truce and attacks Russian oil refinery as Zelenskyy says he feels betrayed by Trump. Ukraine has struck a Russian oil refinery, defying Trump's energy ceasefire.
•Air defence crisis: Exclusive: Ukraine runs out of Patriot interceptor missiles as Zelensky and Trump clash over war.
•UK support: UK Sends Ukraine More Storm Shadow Missiles to Hit Russian Sites.
•EU debate: European Union leaders were trying on Thursday to overcome differences on plans to use frozen Russian assets to finance Ukraine's war effort.
•Other incident: 2 ships on fire off Romania's Black Sea coast, 7 crew missing - Drone strike and fire on ship in Romanian waters raise fears that war in Ukraine is spreading.
4. Asia-Pacific
•Pakistan tragedy: Peshawar school collapse killed at least 29 in northwestern Pakistan, with later reports stating Thirty-four children and a teacher killed in Pakistan school roof collapse.
•China - North Korea: China-North Korea bridge to open on October 15 - Reuters. North Korea and China Open Their Biggest Border Bridge.
•Pacific weather: A brewing Pacific storm could become one of the planet's strongest this year.
5. Europe & Global Politics
•Brazil labor reform: Brazil abolishes six-day workweek in win for Lula - workweek reform cuts the workweek to 40 hours.
•UK culture/politics: UK bookstores scramble as Sally Rooney's novels are withdrawn because she supports Palestine Action.
•Albania unrest: Albania's leader defies calls to resign as student protesters rampage in capital.
6. Health & Vatican
•Pope Leo XIV has been diagnosed with lung cancer, NPR reports. Follow-up coverage explains What is adenocarcinoma? Here's what to know about Pope Leo XIV's form of lung cancer.
7. Markets & Tech Briefly
•Stock markets rallying on earnings and Wall Street gains, and Microsoft says Windows 11 is up to 20% more responsive, with a rebuilt Photos app - tech news but not top geopolitical story today.
> News is developing quickly today, especially around the U.S. shutdown/inflation data delay, Gulf shipping security, and Ukraine. For live updates check Reuters, AP and BBC front pages.