Escalating US sanctions on Russia, including targeting Rosneft and Lukoil, are causing Indian and Chinese refineries to pause oil purchases, while Putin condemns US actions as 'unfriendly' and Germany seeks exemptions for its refineries, alongside US investigations into China's 2020 trade deal compliance and EU leaders stalling a Ukraine loan.

• U.S. to Investigate China’s Compliance With 2020 Trade Deal — The New York Times Business -
• EU leaders stall €140bn Ukraine loan using frozen Russian assets — Financial Times -
• FirstFT: Indian and Chinese refineries pause most purchases of Russian oil — Financial Times -

• Opinion | Putting the Oil Squeeze on Putin — Wall Street Journal -
• Oil supply glut paves way for Trump to tighten screws on Russia — Financial Times -
• Trump’s Sanctions on Russian Oil Sector Ratchet Up Economic War — The New York Times Business -
• Cattle Ranchers are Furious About Trump’s Plan to Import More Argentine Beef — The New York Times Business -
• U.S. Sanctions on Russian Oil Could Push India to Stop Buying It — The New York Times Business -
• Oil Price Jumps on Trump’s Russia Sanctions — The New York Times Business -
• Volkswagen Says Loss of Chip Supply Could Hit Production — The New York Times Business -
• Putin Calls U.S. Sanctions ‘Unfriendly Act’ and Says Russia Won’t Bend — The New York Times Business -
• U.S. Trade War Drives Canada to Fast-Track Port Expansion — Wall Street Journal -
• Can Trump stop India and China from buying Russian oil? — Financial Times -
• America’s risky gunboat diplomacy around Venezuela — Financial Times -
• Trump’s Russian oil sanctions hit India and China’s imports — Financial Times -
• Taiwan’s new opposition leader risks US ire with soft tone on China — Financial Times -
• Germany races to secure US sanctions exemption for Rosneft refineries — Financial Times -
• US imposes sanctions on top Russian oil companies — Financial Times -
• China’s leadership vows to step up push for ‘self-reliance’ in tech — Financial Times -
• Volvo and VW warn Nexperia battle risks triggering factory shutdowns — Financial Times -
• Trump revives gunboat diplomacy in Venezuela stand-off — Financial Times -
• US imposes sanctions on Russia’s Rosneft and Lukoil — Financial Times -
• FirstFT: US puts Russia’s 2 biggest oil companies under sanctions — Financial Times -
• Belgium demands more ‘commitments’ from EU on €140bn loan to Kyiv — Financial Times -
• US widens campaign against alleged drug traffickers to Pacific — Financial Times -
• Nuclear weapons and the balance of terror — Financial Times -
• Singapore’s prime minister warns of ‘messy’ transition to post-American order — Financial Times -
• Singapore prime minister warns of turbulence ahead in 'post-American' order | FT Interview — Financial Times -

Strong financial performances are seen with Intel's shares jumping on improved revenue, Ford's profit more than doubling, and Newmont, Hasbro, Prada, and American Airlines all reporting increased earnings or lifting outlooks, demonstrating a healthy quarter for several key companies.

• Intel shares jump on improved revenue as turnaround shows progress — Financial Times -
• Ford Profit More Than Doubles on Growth in Sales of Pickups, SUVs — Wall Street Journal -
• Intel Surges as First Earnings Report Since U.S. Investment Shows Momentum — Wall Street Journal -

• Boyd Gaming Third-Quarter Earnings Boosted by FanDuel Stake Sale — Wall Street Journal -
• Newmont Revenue, Profit Gain on Surging Gold Prices — Wall Street Journal -
• Norfolk Southern Third-Quarter Sales Rise, Ups Productivity Target — Wall Street Journal -
• Blackstone Looks to IPOs for Investment Exits — Wall Street Journal -
• Goldman nears $1bn deal to buy talent agency Excel Sports — Financial Times -
• Hasbro Lifts Outlook as Holiday Orders Accelerate — Wall Street Journal -
• Honeywell Third-Quarter Aerospace Sales Jump Ahead of Spin-Off — Wall Street Journal -
• Prada Logs Higher Sales as Hopes of Luxury Recovery Build — Wall Street Journal -
• AutoNation Profit Rises as Vehicle Sales Increase — Wall Street Journal -
• American Airlines Lifts Profit Target for 2025 — Wall Street Journal -
• T-Mobile Revenue Rises as Postpaid Phone Subscribers Continue to Grow — Wall Street Journal -
• PG&E Net Up on Higher Electricity Demand — Wall Street Journal -
• Lloyds Banking Group Beats Views Despite Car-Loan Provision Hit — Wall Street Journal -
• Volvo Car Shares Surge After Cost Cutting Boosts Earnings — Wall Street Journal -
• Unilever Underlying Sales Rise as China Returns to Growth — Wall Street Journal -
• Kering Shares Rise as Gucci Shows Early Signs of Revival — Wall Street Journal -
• Nokia Reports Sharp Rise in Demand From AI and Cloud Customers — Wall Street Journal -
• Orange Lifts Earnings Outlook on Higher Revenue — Wall Street Journal -
• Thales Logs Higher Orders as Defense Business Thrives — Wall Street Journal -
• Renault Sales Rise as Revamp Continues — Wall Street Journal -

Major corporations are undergoing significant changes, including Target cutting 1,800 corporate jobs due to stagnant sales, Ford lowering its outlook after a supplier plant fire, Rivian laying off workers amidst an EV pullback, and Tesla's profits plunging as Elon Musk faces challenges over his pay.

• Target to Cut 1,800 Corporate Jobs in Efficiency Drive — The New York Times Business -
• Deckers Expects More Cautious Shoppers Due to Tariffs, Higher Prices — Wall Street Journal -
• Ford cuts guidance after warning of $2bn profit blow from supplier’s plant fire — Financial Times -

• Rivian Lays Off More Than 600 Workers Amid EV Pullback — Wall Street Journal -
• Critical Auto-Aluminum Supplier Says Fire-Damaged Plant Will Restart This Year — Wall Street Journal -
• Target to Slash Corporate Workforce After Quarters of Stagnant Sales — Wall Street Journal -
• Ford’s Profit Jumps on Strong Sales but Company Lowers its Outlook — The New York Times Business -
• Super Micro Cuts Quarterly Outlook, Sending Shares Tumbling — Wall Street Journal -
• STMicroelectronics Shares Slide After Tesla Chip Supplier Forecasts Lower Annual Sales — Wall Street Journal -
• Musk’s Trillion-Dollar Pitch — The New York Times Business -
• Dow Profit Sinks As Petrochemical Oversupply Continues — Wall Street Journal -
• Elon Musk Raises the Stakes for Vote on His Pay — Wall Street Journal -
• Woodside Energy Would Like at Least One More Partner for Louisiana LNG — Wall Street Journal -
• Tesla Profit Plunges as Musk Turns Focus to ‘Robot Army’ — Wall Street Journal -
• Tesla profits drop more than a quarter despite record car sales — Financial Times -

The AI sector is buzzing with activity, from Anthropic and Google Cloud's blockbuster AI chips deal and surging investments in AI data centers to warnings about AI-driven fraud cases in the UK, alongside Trump's pardon of Binance founder Changpeng Zhao and debates about OpenAI creating its own phone.

• Criminals using AI are driving sharp rise in UK fraud cases — Financial Times -
• Anthropic and Google Cloud strike blockbuster AI chips deal — Financial Times -
• Trump says tech bosses persuaded him not to deploy federal forces to San Francisco — Financial Times -

• Trump pardons Binance crypto founder Changpeng Zhao — Financial Times -
• Trump Pardons Changpeng Zhao, Founder of the Crypto Exchange Binance — The New York Times Business -
• OpenAI should make a phone — Financial Times -
• Trump Administration in Talks to Take Equity Stakes in Quantum-Computing Firms — Wall Street Journal -
• Crusoe raises $1.4bn as investors pile in to AI data centres — Financial Times -
• Macy’s Employs Warehouse Robots to Speed Up Deliveries — Wall Street Journal -
• What makes us so vulnerable to cloud computing outages? — Financial Times -
• OpenAI-Linked Creative Studio Raises $12 Million as It Eyes AI Content Drive — Wall Street Journal -
• Amazon outage shows EU heads are still in the cloud — Financial Times -

National concerns include the federal government shutdown impacting workers and prompting recalls for Medicare and ACA enrollments, rising family health insurance coverage costs, debates over electricity prices due to green policy, and state-level efforts to curb high drug prices.

• Opinion | Electricity Prices Going Up? Green Policy Is to Blame — Wall Street Journal -
• How Federal Workers Can Find Financial Assistance as Government Shutdown Drags On — The New York Times Business -
• U.S. Health Workers Recalled From Shutdown Furlough for Medicare, A.C.A. Enrollments — The New York Times Business -

• Family Health Insurance Coverage Nears $27,000 a Year — The New York Times Business -
• Drug With a 30-Year Monopoly Is Target of State-Level Push to Curb Prices — The New York Times Business -

The UK faces various domestic issues, including doctors planning a five-day strike in November, rising sewage pollution and water outages, London easing planning controls to boost the building sector, retail and hospitality wage growth being hit, and concerns over rising shoplifting and fraud.

• UK grooming gang inquiry descends into infighting over minister’s role — Financial Times -
• London eases planning controls to kick-start struggling building sector — Financial Times -
• Doctors in England to strike for five days in November — Financial Times -

• Parliamentary committee to ‘seek information’ on Prince Andrew’s lease — Financial Times -
• Former British soldier found not guilty in Bloody Sunday murder trial — Financial Times -
• Retail and hospitality wage growth hit as UK employers offset tax rise — Financial Times -
• Sewage pollution and water outages soar in England despite bill increases — Financial Times -
• London police arrest three men on suspicion of spying for Russia — Financial Times -
• Crime reports show rise in shoplifting and fraud — Financial Times -
• FT webinar: what will the Budget mean for your money? — Financial Times -
• Tory deportation plan would upend Britain — Financial Times -
• How to overthrow the Bank of England — Financial Times -
• Collective DC schemes will play ‘significant role’ in pensions, says UK minister — Financial Times -
• Let’s fall in love with cars again — Financial Times -
• UK traffic to porn sites falls by a third after new age verification rules — Financial Times -

The entertainment industry is seeing significant M&A activity, with Paramount secretly pursuing Warner Bros. Discovery with multiple offers and Hollywood exploring opportunities in tiny dramas, while Broadway averted a strike as musicians reached a deal with producers.

• Broadway Averts Strike as Musicians Reach Deal With Producers — The New York Times Business -
• Pentagon Announces ‘Next Generation’ Press Corps — The New York Times Business -
• Three Offers in One Month: Paramount’s Secret Pursuit of Warner Bros. Discovery — The New York Times Business -

• Hollywood Sees Big Opportunity in Tiny Dramas — Wall Street Journal -
• Abbode Founder Reacts to Sabrina Carpenter Wearing Her Embroidered Shirt on ‘Saturday Night Live’ — The New York Times Business -
• Warner Bros. Discovery Rebuffed Three Offers From Paramount — Wall Street Journal -

Global economic trends include China's consumers remaining in a funk despite its companies excelling abroad, Turkey cutting interest rates despite inflation risks, Apple losing a UK class-action lawsuit over App Store charges, and European aerospace giants forming a space tie-up to compete with SpaceX.

• G. Michael Brown, 82, Dies; Gambling Regulator Became Casino Executive — The New York Times Business -
• China’s Consumers Are in a Yearslong Funk. Will Anything Get Them to Spend? — The New York Times Business -
• Apple loses UK class action lawsuit over ‘excessive’ App Store charges — Financial Times -

• Chinese Air-Bag Parts Have Exploded and Killed Six. Now Regulators Want Answers. — Wall Street Journal -
• For China, ‘involution’ is a blessing as well as a curse — Financial Times -
• Turkey cuts interest rates despite ‘evident’ risks on inflation — Financial Times -
• Airbus, Leonardo, Thales to Launch Space Tie-Up to Compete With Musk’s SpaceX — Wall Street Journal -
• Are we worrying too much about public debt? — Financial Times -
• Airbus, Leonardo and Thales strike space deal to rival Musk’s SpaceX — Financial Times -
• Are profit margins unsustainable? — Financial Times -
• Former Citi banker jailed over role in Singapore money-laundering scandal — Financial Times -
• Germany shelves commemorative coins over surging silver price — Financial Times -
• Wizz Air boss says EU aviation rules risk creating a ‘decaying economy’ — Financial Times -
• Contentious sukuk rule may never come into force, says IsDB chair — Financial Times -
• Asset managers trim real estate holdings amid market downturn — Financial Times -
• Hoping to Grow in Europe, but Bogged Down by Red Tape — The New York Times Business -