Audi plans its first US factory in Georgia, an investment of about $4.2 billion that was touted at a Trump campaign rally on Saturday. Audi CEO Gernot Döllner announced the plant at the event, according to FAZ, and Politika reports production is planned to start in the 2030s.
Brent eased from a six-month high on Monday. IEA chief Fatih Birol sees no normalisation of energy markets before 2027.
Worries about AI profitability are spreading from US tech shares to Asian markets and risky debt. Asia's busiest earnings week now puts the AI boom to the test.
A sell-off in French government bonds is at the heart of the fight over the ECB succession, Bloomberg reports. The Wall Street Journal describes France as the poster child for debt worries.
Hassett said on Sunday that US-Canada trade talks are 'very close' to a deal. At a rally at the Michigan border, Trump said a deal with Canada on tariffs is coming 'soon', Reuters reports.
A decree published in France's Journal officiel provides for the release of strategic diesel stocks, and distributors must pass the full price cut on to customers, possibly early from 1 November, Le Monde reports. FAZ writes that nowhere is the debt situation as acute as in France, while Bloomberg reports that euro-area business activity cooled.
Trump said Audi will build a factory in Georgia, according to the New York Times; the Volkswagen division imports all its cars from Europe or Mexico and has been hit hard by US tariffs. Handelsblatt reports that Trump lifted tariffs on certain Canadian goods, while his administration accuses Canadian officials of trying to sway the midterm elections for Democrats, claims Prime Minister Mark Carney says have "no merit".
Fuel costs from the Iran war keep airfares high, while oil stocks are depleted. Iran's president says many people in the country struggle to get food.
Indonesia cut pipeline gas exports to Singapore by about 9%, Reuters reports. An official said the cut on Saturday was to prioritise domestic demand, the South China Morning Post reports, while Bloomberg says Singapore has widened its haze investigation to 10 locally based firms.
Bloomberg reports that sinking profits have turned China's $3.5 trillion stock rout into a trap for investors. The South China Morning Post reports that users noticed on Saturday that the social media account of economist Ren Zeping had been restricted, as Beijing steps up scrutiny of financial market influencers.
Bloomberg describes a 'total meltdown' in the riskiest debt and reports that Swiss stocks are becoming a haven from AI fears roiling markets. The Wall Street Journal reports that Treasury yields fell over the week as turmoil subsided.
Nigeria's Dangote refinery is listing on the stock exchange, with the offer ending on Tuesday and oversubscription anticipated, Le Monde reports. The Lagos mega-refinery is posting sharply higher profits amid rising fuel prices.
Frasers has raised its stake in Hugo Boss above 50% and takes control of the German fashion group, Bloomberg reports. Details of the transaction were not available in the source.
A tech sell-off on Thursday sent investors into government bonds and pushed gold below $4,000 an ounce.
Brent crude touched $117.45 on Friday, its highest in nearly six months, on fears of renewed US strikes on Iran and Houthi attacks in Saudi Arabia. European gas storage is far below normal heading into winter.
French borrowing costs stay above 5% while a business survey shows the economy shrinking amid unrest. Attention turns to the ECB as a possible backstop.
A tanker carrying Russian diesel is sailing toward a US port, the first such shipment since the agreement between Donald Trump and Vladimir Putin, according to Reuters, Bloomberg and the Wall Street Journal. Le Monde reports it is due in New York on 7 November, four days after the midterm elections, and says the deal aims to lower fuel prices before the vote.
Volvo Cars announced 2,500 job cuts on Friday after swinging to a third-quarter loss, and its shares plunged. Daily Sabah reports the company blamed US tariffs and strong competition from local brands in China, while Bloomberg says the China woes also weighed on Gucci and European stocks.
Chinese stocks have slid into bear territory, according to Nikkei Asia, shortly before a Communist Party plenum next week in Beijing. Reuters says tougher discipline and Xi Jinping's authority are expected to be key themes, and the South China Morning Post points to a renewed anti-corruption drive.
EU ministers pledged on Friday to tackle 'China Shock 2.0' through talks with Beijing, Reuters reports. Brussels is weighing import quotas and safeguards, while Beijing warns it not to 'fantasise' about extracting concessions.
Trump is lifting 50% tariffs on select Canadian agricultural and forestry products, a move announced by Maine Republican Senator Susan Collins, who faces a tough re-election fight, according to the New York Times. Prime Minister Carney said he was disappointed by the US ambassador's accusation that Canada interfered in US elections.
US consumer sentiment fell to near a record low ahead of the midterm elections, Reuters reports, while Bloomberg describes it as a five-month low amid inflation worries. Business activity cooled in October but prices rose by the most since 2022, with strong demand fuelling price pressures, according to Reuters and Bloomberg.
Jio Platforms' IPO is the first issue worldwide to receive more than 10 million applications, The Hindu reports. According to Reuters, bids topped 10 times the offer.
Mark Zuckerberg will stay in California even if the billionaire tax is introduced, Le Monde and the Financial Times report. Meta is creating a new class of non-voting shares, according to Reuters, and the FAZ says the shares help Zuckerberg.
Brent rose above $110 on Gulf escalation fears, and global stocks fell on Thursday.
French 10-year yields stayed above 5% on Thursday, and the spread over German Bunds is the widest since 2011. Budget deadlock and unrest are driving the selloff.
Concerns over how the AI boom is financed hit markets on Thursday. Meta's credit risk gauge rose to a record after its results.
Reuters reports that Indonesian stocks with high shareholding concentrations will be excluded from an index from next month, after what the South China Morning Post calls the country's worst stock-market rout since 1998. Sovereign fund Danantara says it has bought stocks, and Bloomberg reports that Indonesia is eyeing a panda bond.
The retail portion of the Jio Platforms IPO was fully subscribed by the second day of bidding, according to Reuters and The Hindu. Reuters also reports that Ambani's heir Akash is stepping into the spotlight as the company goes public.
Nestlé has taken $1.95bn of net assets off its balance sheet after a Russian presidential decree to take control of its business there, the Financial Times reports. Reuters reports that the Swiss group beat sales forecasts after excluding the seized Russian business.
Barclays said on Thursday it will cut around 5,000 jobs, roughly 5% of its global workforce, by the end of the year in an AI efficiency drive. It reported £2.3bn in pre-tax profit for July to September and profits up 12%, according to The Guardian, but the Financial Times says the result fell short of City expectations.
France's 10-year borrowing cost topped 5% on Wednesday for the first time since 2002. The spread to Germany is at its widest since 2011.
Brent eased from a five-month high as Middle East oil exports returned to prewar levels via alternative routes. Washington is lending heating oil and diesel from its reserves ahead of the midterms.
Bank Indonesia held its key rate while the threat of an MSCI reclassification weighs on Indonesian stocks and the rupiah, according to the Wall Street Journal and Bloomberg. Singapore's Temasek and GIC deny instigating the stock rout, Bloomberg reports.
Mukesh Ambani's Jio Platforms, whose $3.2bn offering Nikkei Asia calls a record, was fully subscribed on Wednesday within about 100 minutes of opening, The Hindu reports. The rupee closed at a six-week high of 94.43, driven by the IPO and RBI intervention.
Handelsblatt reports that corporations have built up $2.7tn of 'shadow debt' in the AI boom, and the Wall Street Journal writes that weak points in AI bonds are becoming clearer. The Financial Times reports that Nscale founder Josh Payne is seeking to reassure staff, saying demand remains 'insatiable' for the Nvidia-backed data centre group's services.
Elon Musk said on Wednesday that SpaceX and Tesla are exploring a merger, which Al Jazeera calls the largest in history, and that a tie-up has considerable merit given the firms' complementary AI work. Daily Sabah reports both companies formed special committees to discuss a deal, and the New York Times says tech stocks rose after SpaceX beat earnings estimates.
Russian Deputy Prime Minister Alexander Novak said on Wednesday that Russia will send its first diesel tanker to the US on Thursday, after sanctions relief, according to Daily Sabah. Novak added that Russia could fully restore diesel export volumes by the end of the year, and TASS reports that shipments to other countries depend on refineries' capabilities.
The British government approved the Jackdaw gasfield in the North Sea on Wednesday, ending years of legal and political dispute, according to Daily Sabah. The Guardian says the decision was widely expected after lobbying by Shell, and Al Jazeera reports sharp criticism from left-wing politicians and environmentalists.
Figures published on Wednesday showed UK inflation at 3.5% in September, driven by motor fuel costs, with petrol and diesel prices rising the most in four years, The Guardian reports. Borrowing reached £24.5bn, above forecasts, which the Financial Times says strengthens expectations of a Bank of England rate rise in November.
Brent touched $112 on Tuesday before easing, and European gas reached its highest since late 2022.
CoreWeave's unsecured bonds sold off, and Korean data-centre firm Elice lost 32% on its first trading day on Tuesday.
French bond-risk measures rose as investors weighed street unrest against a stalled austerity budget. Money is flowing into ultralong Japanese bonds.
Japan is months from running out of yttrium and has asked the US to press China to ease rare earth export controls, the Financial Times reported on Tuesday. The metal is vital to car, jet engine and chip production.
Russian diesel is flowing back to familiar destinations after the lifting of the export ban, shipping data shows, according to Reuters. Bloomberg reports that a US plan to rehabilitate sanctioned "dark fleet" tankers may find few takers, and Handelsblatt reports that Russia is moving its shadow fleet under its own flag.
Jio Platforms, the digital arm of billionaire Mukesh Ambani, floats on the stock market on Wednesday in what The Guardian calls India's biggest-ever IPO, aiming for a valuation of £81bn. The South China Morning Post, which puts the figure at US$108b, says the listing will test investor confidence in the telecoms operator amid a rivalry with Elon Musk.
Indonesian stocks rebounded as authorities stepped up their response to a possible reclassification by MSCI, Bloomberg reported. The South China Morning Post says financial regulators and exchange officials have vowed to address systemic concerns, while Bloomberg reports that bets on a rate hike jumped as the threat hit the rupiah.
US pending home sales fell to a record low in September, according to Reuters, and single-family housing starts and building permits also dropped. Handelsblatt reports that mortgage rates are at their highest since 2009.
Amazon plans to invest more than €16 billion in Germany next year, Reuters and FAZ report, with part of the money going to an alternative to Elon Musk's Starlink. The announcement came at an investment summit where Merz pitched Germany's defence, AI and chip investment drive, according to Reuters and Handelsblatt.
Retailer Carrefour cut its forecast because of the unrest in France, and its chief called the situation unprecedented, according to FAZ. Insurers say riots now behave like natural catastrophes, and some are turning on the state over costs, according to the Financial Times and Le Monde.
Brent eased to about $107 on Monday after touching $110, as traders weighed a US waiver on Russia sanctions against Middle East risks.
China's Commerce Ministry will require export licences for tunnel-boring machines from 18 November and tighten rules on drones and dredgers. Draft curbs on AI and solar technology are pending.
US stock futures and semiconductor shares recovered on Monday after the sharpest weekly selloff in months. Worries about AI financing remain.
French bond yields rose and stocks fell on Monday after violent weekend protests. Investors doubt Paris can pass its austerity budget.
Indonesia's stock exchange will drop 80 tightly held stocks from its benchmark index to head off an MSCI downgrade. Shares kept falling on Monday.
China's GDP grew 4.5% in the third quarter compared with a year earlier, beating forecasts, as exports tied to an AI boom lifted growth, according to Al Jazeera and the Guardian. Reuters reports that China is set to leave its benchmark lending rates unchanged for a 17th month.
Saudi Arabia has postponed its Future Investment Initiative, known as 'Davos in the Desert', after Houthi attacks, Reuters and the New York Times report on Monday. The event, a centerpiece of the kingdom's push to diversify its economy, was due to begin next week, and Bloomberg reports that Riyadh airport has restricted jet traffic.
Japan's Nikkei fell 1.8% on Monday as funding concerns over AI data-centre builders hit chip stocks. Microsoft's exit from a UK deal with Nscale and a new DeepSeek model added to the pressure.
Brent crude held near $110 on Monday amid the Mideast and Ukraine conflicts, Bloomberg reports. Reuters says prices slipped on expectations of more Russian fuel after Trump's sanction waiver.
China's economy grew 4.5% in the third quarter, powered by exports and narrowly beating forecasts, according to the Wall Street Journal and Nikkei Asia. Bloomberg reports that the slump in home prices eased.
China has proposed export controls on solar-manufacturing technologies, according to Reuters and The Hindu, part of what Handelsblatt describes as planned new controls on key technologies. Reuters separately reports that China's solar panel exports extended their slump in September.
The euro fell and the dollar firmed on Monday as French protests turned violent and Russia risk dented trader sentiment, according to Reuters and Bloomberg. The Financial Times reports that the Iran war and shifts by China are tightening the supply of dollars in international markets, amplifying US rate rises.
Debt trouble at CoreWeave, Oracle and SoftBank is raising doubts about how the AI data-centre build-out is financed. Bloomberg reports that the AI trade reversal has now reached Asia's AI supply-chain stocks.
The IMF's Bangkok meetings ended on Saturday with warnings that the global economy's resilience is under strain. Bloomberg reports the ECB is leaning toward a December rate hike.
Oil rose above $110 for the first time since May, Bloomberg reported on Friday. Diesel and ship-fuel markets remain tight despite emergency stock releases.
Worries about debt-funded AI spending hit CoreWeave shares and bonds and data-centre debt. Big US bank shares are on course for their worst weekly losing streak since 2008.
Fed chair Kevin Warsh avoided signalling a rate move for October. In Bangkok on Friday, central bankers pushed back on market bets on tightening.
Indonesia's Jakarta Composite Index fell more than 11% on Friday after MSCI said it is considering a downgrade of the country's market status.
France and Germany agreed on Friday to cut the 2035 CO2 target for new cars to 90% instead of 100%. Berlin in turn accepted strict 'Made in EU' criteria for electric cars.
EU leaders backed a Franco-German call for a new instrument that could restrict Chinese access to the single market. The Commission is also preparing curbs on Chinese chemicals and machinery.
Dmitriev says Russia's wealth fund will work with the US on payment for the diesel deal, according to Reuters. Bloomberg reports the deal faces a fresh challenge in Congress, while TASS, citing the Financial Times, says Washington is considering easing sanctions on Russian tankers.
EU leaders meeting in Brussels struggled to agree on how to bring down energy prices, Le Monde reports. Ursula von der Leyen said the EU will take six measures to stabilise energy markets, including releasing 100 million barrels of oil over the next four months, according to Politika.
The IMF says Europe must boost growth or borrow less to keep its debt sustainable, according to Reuters. Reuters also reports that Asian bonds recorded their biggest monthly foreign outflow since March 2020, and that the role of hedge funds in the European bond turmoil is coming into focus.
The European Central Bank has approved UniCredit taking control of Commerzbank, Bloomberg reports. The Economist says the takeover is only the start of Italian purchases of German businesses.
The US federal budget deficit for fiscal 2026 reached $1.99 trillion, the largest in five years, according to Bloomberg and Reuters. The New York Times attributes the rise to higher borrowing costs from higher interest rates and to Trump administration spending on the Iran war and tariff refunds.
President Vladimir Putin has placed the Russian assets of several European companies, including French flooring maker Tarkett, Ontex (owner of the Helen Harper diaper brand) and three foreign packaging firms, under temporary management. The Kremlin's Dmitry Peskov said the step is not aimed at a change of ownership and that the firms' origin in countries holding Russian assets was one factor in the decision.
Asian tech stocks plunged on Thursday, with South Korea's KOSPI down 7.6% and Japan's Nikkei nearly 5%, after a US selloff on hot inflation data. Record TSMC profit did not stop the slide.
US producer prices rose 1.3% in September, far above forecasts, driven by energy costs. Retail sales also beat expectations.
G20 and G7 finance ministers met in Bangkok while the Iran war's energy shock feeds into bond yields and fuel supply. The IMF names a prolonged war as the biggest risk for the Middle East.
The IEA will accelerate the release of its remaining emergency oil stocks, taking the total past the 400 million barrels pledged in March. Bloomberg reports that Washington told members it is unhappy.
According to the Financial Times, investors are demanding large discounts on French stocks against regional peers because of troubled public finances and the looming presidential election, producing the biggest underperformance since 2010. Al Jazeera reports that France's soaring borrowing costs and political divisions raise fears of a wider Eurozone debt crisis.
France and Germany agreed to ease the ban on combustion-engine cars after 2035 in return for 'Made in Europe' guarantees, Le Monde reports. The Financial Times reports that the deal would let the UK join the EU car policy if it aligns with the bloc on China tariffs.
India has approved the purchase of nearly 61% of IDBI Bank by Canada's Fairfax Financial Holdings for $5.6bn, the biggest foreign takeover of a domestic bank, the Financial Times reports. The Hindu reports that IDBI shares fell 7.5% on Thursday, which Reuters attributes to profit booking.
US inflation accelerated in September as fuel costs rose. Markets are betting on further Fed tightening.
Chip shares extended a global rout, and Bloomberg reports they were set to erase $1 trillion in value. ASML said on Wednesday that AI demand will exceed supply for two more years.
China's exports rose 36.3% in September from a year earlier, well above forecasts. The nine-month trade surplus has reached $938 billion.
The International Energy Agency said on Wednesday that diesel markets will stay tight well into 2027 because of Gulf supply disruption from the Iran war. Refiners stand to earn record profits.
IMF chief Kristalina Georgieva urged advanced economies in Bangkok on Wednesday to repair public finances as bond yields surge.
A UN official warned on Wednesday that parts of Asia and Africa could face a food crisis unless Iran and the US agree within weeks on moving fertiliser through Hormuz.
EU leaders meeting in Brussels on Thursday will tell the Commission to urgently develop new tools against trade imbalances with China. Germany reportedly wants caps on more Chinese imports.
The US Treasury Department said on Tuesday it had fined Bank of America $1.2 billion for allegedly violating anti-money laundering and sanctions laws, and the Financial Times reports the bank's profit fell 17% as a result. Reuters reports that Morgan Stanley's profit rose on strength in equity trading.
Motorists have queued for hours at petrol stations across the resort island of Bali in recent days amid reports of a fuel shortage, the South China Morning Post reports. Nikkei Asia reports that the shortages have also reached other regions of Indonesia as prices climb.
The IMF kept its 2026 global growth forecast at 3.1% on Tuesday but said the room to absorb shocks is narrowing. Its financial stability report names bond yields and a possible AI market correction as key risks.
Memory-chip stocks fell sharply on Tuesday after Chinese chipmaker CXMT claimed a technical advance and Broadcom's chief likened AI investing to a casino. South Korea's KOSPI closed down 5.5%.
Government bond yields stayed near multi-decade highs as France's National Assembly began examining the 2027 budget on Tuesday. France is increasingly seen as the focal point of the strain.
European gas prices reached their highest level in nearly four years on Tuesday. Germany's economy ministry meanwhile plans a consumer levy for an emergency reserve.
China's central bank has approved Visa to prepare for domestic bankcard clearing operations, according to Global Times, Reuters, Bloomberg and the Wall Street Journal. The approval covers preparations for the business in China.
BMW's deliveries fell 6.3% in the third quarter as sales in China slumped, Reuters reports, and Handelsblatt puts the drop in its China business at almost 25 percent. The Financial Times reports that the EU's hybrid curbs would offer only temporary respite against Chinese carmakers, while Bloomberg says Chinese state media warned the EU against "new tricks" after the car deal.
OPEC again cut its 2026 oil demand growth forecast to 0.2 million barrels per day, putting demand at 105.72 million bpd, according to its October report. TASS reports that OPEC+ output rose by 956,000 bpd in September, or 977,000 bpd for seven member countries, with Saudi Arabia posting the largest increase, while Politika puts Brent near $106 amid new Middle East risks.
The rupee rose 82 paise to 94.96 against the U.S. dollar in early trade on Tuesday, The Hindu reports. Reuters reports that India's tough foreign exchange measures have rattled banks and triggered unintended consequences.
Goldman Sachs beat quarterly profit estimates on equities strength, Reuters reports. JPMorgan's results were weaker, with the New York Times citing higher interest rates and Reuters a slowdown in investment banking momentum, and its shares slipped.
Senators from both parties say Trump's diesel deal with Russia breaks US law, while Trump defends it, Reuters reports. Germany and the EU say they will not copy it.
The EU and China have agreed to limit Chinese hybrid and plug-in hybrid imports to 350,000 cars a year. The cap applies from December.
IMF head Kristalina Georgieva said on Monday that AI investment is keeping global growth around 3% despite the energy shock. She called AI a "slow-moving tsunami" for labour markets.
Brent crude rose above $106 a barrel on ICE on Monday, its first time at that level since late September, according to TASS. Politika reports that prices gained more than two percent on concerns over new attacks in Ukraine and the Middle East, after an earlier dip following an announced agreement between Moscow and Kyiv.
The rupee rose 91 paise to 95.80 per dollar in early trade on Monday, a gain of about 1%, after the RBI redirected oil dollar demand and raised the cost of some FX hedges, Reuters and The Hindu report. Indian debt funds are set to extend a $4.5 billion bond selloff after the policy shift, The Hindu reports, and banks are seeking relief and clarity, according to Reuters sources.
Volkswagen's third-quarter deliveries fell on plummeting China demand, Reuters reports, and Handelsblatt reports that Audi sales dropped by almost a fifth. Nikkei Asia says China's peak-season auto sales had their sharpest monthly drop of the year, while Reuters notes that exports retained momentum.
Reuters reports that a surge in US yields triggered mortgage hedging and added to pressure on the bond market, while Bloomberg reports one of the worst outflows from US mortgage bond funds since 2021. Italy's central bank warned that a higher deficit puts the country's exit from the EU budget procedure at risk.
American economists Robert E. Hall and Michael Woodford won the 2026 Nobel Memorial Prize in economics, announced on Monday. They were honoured for models that help governments and central banks stabilise economies, including in the 2008 financial turmoil.
The IMF and World Bank annual meetings opened in Bangkok on Monday, dominated by the energy shock from the war with Iran. Oil rose again and India's central bank moved to defend the rupee.
Seven US senators, four of them Republicans, say Trump's diesel deal with Russia violates a 2022 ban on Russian energy imports. Treasury Secretary Scott Bessent says existing legal authority suffices.
Bundesbank official Theurer sees sharply higher risks of a debt crisis, Handelsblatt reports, while French yields remain high. Bloomberg says US bond traders await consumer price data and signals from Warsh on the Fed's rate path.
The EU will limit imports of Chinese hybrid cars to 350,000 a year under a new understanding with Beijing, Bloomberg reports. The Financial Times says the auto sector welcomed the deal, while other industries warn that China's large trade surplus will persist without further action.
A Bundesbank official says euro-zone debt-crisis risks have risen sharply, Bloomberg reports. France is the focus as global bond yields stay high.
Germany, the EU and Australia say they will not buy Russian diesel after the Trump-Putin deal. Analysts expect little effect on prices.
The top trade envoys of China and the EU agreed on Friday on a broad initial deal after two days of talks, according to Breitbart. Bloomberg reports the EU plans measures to cut imports of Chinese hybrid cars by half, and a Chinese commerce ministry official said the EU will consider possible facilitation measures for China.
The Reserve Bank of India announced a special window for state-run oil companies to meet their daily dollar needs, along with regulatory steps to support the rupee, according to The Hindu and Bloomberg. The Financial Times says the currency is nearing record lows, with energy costs pushed up by the US-Israel war on Iran.
The Irish EU presidency wants to cut the proposed 2028-2034 EU budget plan by 8%, Reuters reports. According to Handelsblatt, the new proposal sharpens the dispute with net payers and puts the presidency on a collision course with Merz.
China has agreed to restrain hybrid car exports to the EU, trade commissioner Maroš Šefčovič said on Friday after two days of talks in Beijing. Brussels says shipments could fall by half or more within four years.
Pimco warns that US 10-year yields could reach 6%, while France has become the focus of euro-zone debt stress. The Wall Street Journal reports global yields turned lower on Friday.
Delta Air Lines cut its profit forecast on Friday because jet fuel will cost it an extra $6bn this year. Tanker rates have also soared.
President Donald Trump announced on Friday that the White House will investigate Fed governor Lisa Cook over mortgage fraud claims that the New York Times describes as unsubstantiated, with a hearing planned for next month. The move follows a June Supreme Court ruling that, according to the Guardian, found her firing unconstitutional.
The Trump administration accused Microsoft, Adobe and other companies of abusing a US worker visa programme and suspended them indefinitely from the PERM green card route, Bloomberg reports. Tata Consultancy Services (TCS) sees no impact on its workforce strategy, The Hindu reports, while the move raises talent-retention concerns for Indian IT firms.
SoftBank founder and chief executive Masayoshi Son has held talks with senior figures in the UAE in recent weeks, the Financial Times reports. According to the FT, as relayed by Reuters, the group is seeking up to $100bn from Gulf investors for its AI push.
China is rolling out $82 billion in additional stimulus for provinces, Bloomberg reports, as the yuan hit a four-year high against a basket of currencies. China's central bank rejected claims that the yuan is undervalued, the South China Morning Post reports, rebutting a key European argument ahead of possible trade-war talks.
Australian data-centre operator Firmus abandoned its plan to list in Sydney, blaming "recent market volatility and prevailing market conditions", the Financial Times reports. Bloomberg reports that the Nvidia-backed company is exploring raising $3 billion after shelving the IPO.
Airtel Money debuted in London at a $7 billion valuation after the city's biggest IPO in five years; according to the Wall Street Journal the shares opened higher, and Reuters reports they slipped below the offer price. Bloomberg also reports that Ambani's Jio is said to have set a price band of 1,065 to 1,119 rupees for its record IPO.
Yields on US, euro-zone and UK government bonds kept climbing this week. Bloomberg calls France the bellwether for global market stress.
EU trade commissioner Maroš Šefčovič is in Beijing to avert a trade war over Chinese exports. Berlin meanwhile vetoed a Cosco takeover in Hamburg.
The WTO has raised its 2026 goods trade outlook, with FAZ reporting growth twice as fast as expected. Spending on AI-related goods more than offset the drag from the Middle East war, according to the New York Times, while TASS cites the report as showing Middle East LNG exports down 47% year on year in the first half.
Senior Russian and US officials, including Kirill Dmitriev, an adviser to President Vladimir Putin, and US Special Envoy Jared Kushner, have discussed bringing a US investor into the Nord Stream pipelines to sell gas to Europe, Reuters reports, citing sources. Politika writes that a deal is still far from being realised.
The US government is suspending Microsoft, Adobe and several large IT firms from the PERM programme, which lets skilled foreign workers gain permanent residency, senior US officials announced on Thursday, citing fraud allegations. According to Al Jazeera, the probe also targets universities for allegedly exploiting international students to cut US wage costs.
The World Bank forecasts that the Middle East economy will shrink 2.1% in 2026 and Gulf economies 4.3%, the Jerusalem Post reports. Asian states are building oil buffers in response to the Iran war, with Saudi Arabia and the UAE joining a Japan-led push, according to Reuters and Bloomberg.
Fed Governor Christopher Waller said on Thursday that additional rate hikes would likely be needed to bring inflation down to the 2% target, but that there is flexibility on the pace. Minutes of the latest meeting show no urgency for a hike in October, according to the Wall Street Journal.
The Reserve Bank of India raised its repo rate by 25 basis points, and the rupee fell 13 paise to close at 96.88 against the US dollar on Thursday, according to The Hindu. Reuters writes that the hike will not stem outflows, leaving the central bank in a bind, while Bloomberg says the rupee is nearing a record low.
The African Union inaugurated its credit rating agency, AfCRA, on Wednesday in Mauritius. It is meant to offer an alternative to the three dominant Western firms, whose assessments African leaders accuse of overstating the region's risk.
Long-term government bond yields rose again on Wednesday, with the US 30-year yield at its highest since 2002. Minutes of the Fed's September meeting point to a further rate increase this year.
IMF chief Georgieva said energy prices will stay high even if the Gulf war ends. The IEA agreed to speed up its emergency oil release, diesel first.
French ten-year yields climbed on Wednesday and the euro fell to a 16-month low against sterling. Central bank chief Emmanuel Moulin said the ECB need not step in.
EU trade commissioner Maroš Šefčovič begins two days of talks in Beijing on Thursday. China has refused to limit hybrid car exports voluntarily, the Financial Times reports.
The Reserve Bank of India raised its repo rate by 25 basis points to 5.5% on Wednesday, its first hike in nearly four years. It also lifted its FY27 inflation projection to 5.1% amid higher crude oil prices.
Iraq set the dinar at 1,520 per US dollar, the state news agency said, according to Reuters. Bloomberg links the devaluation to the Hormuz disruption hitting oil exports, while The National cites a cash squeeze from war and the Hormuz closure.
Shell expects its refineries to make almost double the profit from every barrel of fuel, a record, as global shortages follow the shutdown of war-damaged refineries in the Middle East and Russia, the Guardian reports. Bloomberg says the company also sees strong oil and gas trading as the war drives price swings, and trader Vitol says the disruption creates 'huge' opportunities.
Paramount Skydance has completed its takeover of Warner Bros. Discovery, creating a group named Skydance, according to Global Times. The Financial Times reports that heavy cuts are expected as boss David Ellison tries to deliver $6bn of cost savings, while Bloomberg reports that the debt deal offers investors few safeguards.
The German government has blocked the sale of Hamburg port logistics company Zippel to Chinese state-run shipping group Cosco over national security concerns, Daily Sabah and the Financial Times report. The Financial Times notes that the deal concerned a company in Germany's largest seaport.
African countries moved on Wednesday to launch AfCRA, the first credit rating agency of the African Union. It is meant to end the 'Africa premium' that policymakers say Moody's, S&P Global and Fitch Ratings have imposed.
According to the New York Times, Porsche plans to cut 25% of its work force as profits fall. FAZ reports that chief executive Michael Leiters is betting on pricier cars, new combustion models and a super sports car, aiming to lift the return on sales back to 15 percent.
Bloomberg and the Financial Times report that Japan plans the biggest revamp of the Topix index to date, removing hundreds of stocks. The move would leave the benchmark with fewer than 1,000 constituents, according to the Financial Times.
Oil exports from the Gulf are back near 80% of prewar levels, according to Shell's chief executive. Iran keeps attacking ships in Hormuz, and Western stockpiles are nearly spent.
The euro fell to 1.116 dollars on Monday, its weakest since May 2025, as French borrowing costs neared 5 per cent. On Tuesday, Marine Le Pen presented a spending-cut plan.