The 10 most important things in the world right now

Ukrainian authorities evacuated nearly 30,000 people from the central Vinnytsya region after a large munitions depot caught fire and artillery shells exploded. Prosecutors are treating the blast as an act of sabotage. Photo: Sergei Supinsky/AFP/Getty Images

Hello! Here’s what’s happening on Thursday.

1. All the details of Trump’s massive tax plan have been revealed. The changes, which Democrats labelled “morally repugnant”, include a 20% corporate tax rate, an increase in the bottom personal tax bracket to 12% and a drop in the top bracket to 35%.

2. French President Emmanuel Macron has also released his budget, which cuts spending by €16 billion ($AU24 billion). To help address the nation’s 9.5% unemployment rate, Macron’s first annual budget drops corporation tax to 25%, but also cuts 1,600 civil service jobs and freezes major infrastructure projects.

3. US Secretary of State Rex Tillerson is heading to China today for his second official trip. Ahead of Trump’s expected visit to China in November, Tillerson will be spending four days with discussions on trade, North Korea and the South China Sea likely to get the most attention.

4. The Trump administration has also announced it will drop the refugee cap to 45,000 — the lowest number in decades. The new figure is a sharp drop from Obama’s goal to resettle 110,000 refugees in the 2017 financial year.

5. UK Prime Minister Theresa May is involved in a diplomatic row with the United States over a new tariff that has thrown thousands of British jobs into doubt. May is “bitterly” disappointed with a 220% US tariff being placed on Bombardier jets, which puts at least 1,000 Northern Irish jobs at risk.

6. Torched villages and land that Rohingya Muslims left behind after fleeing Myanmar will now be managed by government authorities. The nation’s law states that burnt land becomes government-managed, which has large ramifications for the 200 estimated Rohingya villages set ablaze in recent violence.

7. Thailand’s former Prime Minister Yingluck Shinawatra has been given a five-year jail sentence. Charged with negligence for a rice subsidy scheme that led to large stockpiles and turbulent prices, Yingluck is thought to have fled the country and was tried in absentia.

8. The Japanese governnment will be dissolved today ahead of an expected election next month. All eyes are currently on Japanese Prime Minister Shinzo Abe and Tokyo Governor Yuriko Koike, a former ally. The election is likely to take place on October 22.

9. An obscure shipping law from 1920 might be crippling Puerto Rico’s recovery efforts. The Jones Act, passed after World War I to protect the US maritime industry from foreign competition, requires only US ships to carry goods between domestic ports meaning foreign ships face steep tariffs which can drive up prices of goods. Meanwhile all five living former US presidents have come together in a fundraising appeal for Puerto Rico.

10. Indonesia has established plans to divert Bali-bound planes if necessary. Ten airports, including Jakarta, Surabaya and Lombok, are being prepared for arrivals because Bali’s Mount Agung could erupt at any moment. Over 75,000 residents have now been evacuated.

And finally…

NASA has named its newest building after math genius Katherine Johnson, who was recently immortalised in the film Hidden Figures.

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