The tech sector is booming with Apple's record iPhone sales and Amazon's surge fueled by AI, though Meta faces challenges with AI investment costs and OpenAI faces regulatory scrutiny, alongside diverse performance across other digital and media companies and growing robotic integration in cities.

• Puck Acquires Air Mail, a Newsletter Merger for the Well-Heeled Inbox — The New York Times Business -
• Apple’s iPhones Fuel Record Sales and Profit — The New York Times Business -
• Apple predicts holiday boom in iPhone sales — Financial Times -

• Amazon Shares Surge on 13% Revenue Jump, Strong Cloud Sales — Wall Street Journal -
• Cities Across the U.S. Are Putting Robots to Work — Wall Street Journal -
• Amazon shares jump 13% as AI powers fastest cloud growth in years — Financial Times -
• Amazon’s Profit Is Up 38% on Strong Performance — The New York Times Business -
• Roku Lifts 2025 Outlook After Swinging to Quarterly Profit — Wall Street Journal -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -
• Navan Shares Fall 20% in Biggest IPO During Shutdown — Wall Street Journal -
• Reddit Third-Quarter Profit, Revenue Surge as Ad Business Grows — Wall Street Journal -
• Meta readies $25bn bond sale as soaring AI costs trigger stock sell-off — Financial Times -
• Palantir Sues Former Employees for Allegedly Stealing Company Secrets — Wall Street Journal -
• Universal Music Logs Slower Subscriptions and Streaming Growth — Wall Street Journal -
• In the AI boom, not all capex is created equal — Financial Times -
• Delaware attorney-general warns of legal action if OpenAI fails to act in public interest — Financial Times -
• Core Scientific Deal With CoreWeave Terminated After Failing to Secure Shareholder Support — Wall Street Journal -
• Shareholders reject $9bn CoreWeave offer for Core Scientific — Financial Times -
• Roblox Quarterly Loss Widens, but Bookings Surge; Lifts Revenue Forecast — Wall Street Journal -
• Comcast Stock Drops After Broadband Subscribers Fall for 10th Straight Quarter — Wall Street Journal -
• Big Tech tests investors’ patience with $80bn AI investment spree — Financial Times -
• Good Luck Finding a ‘KPop Demon Hunters’ Costume This Halloween — The New York Times Business -
• ‘Crime Junkie’ Company in Deal to Bring Podcasts to Tubi — Wall Street Journal -
• YouTube TV Flexes Muscles Again in Showdown With Disney — Wall Street Journal -
• Virgin Media O2 in talks for £2bn takeover of broadband rival — Financial Times -
• Capgemini chief calls for EU’s flagship rules on AI to be suspended — Financial Times -
• Quantum technology is coming to the real world — Financial Times -
• New York City pension chief defends ‘optimistic’ tech valuations — Financial Times -
• Canal+ takes on Netflix in Africa with $3bn bet on satellite TV — Financial Times -
• Samsung Net Profit Surges as Chip Business Rebounds — Wall Street Journal -
• Universal Music Settles With AI Firm Udio — Wall Street Journal -

Across various industries, companies report mixed financial results, with ANZ Bank facing a significant profit hit while Mastercard shows strong consumer spending, and notable **M&A activity includes Onex and AIG's acquisition of Convex and Lukoil selling international assets due to sanctions**.

• Australian Bank ANZ’s Second-Half Profit to Take A$1.11B Hit — Wall Street Journal -
• Chocolate Makers Hopeful That 2026 Brings Cheaper Cocoa — Wall Street Journal -
• Coinbase Global Third-Quarter Sales Climb as Trading Volumes Rise — Wall Street Journal -

• Stryker Lifts Full-Year Sales View After Third-Quarter Revenue Rises — Wall Street Journal -
• Shawbrook shares jump on London debut — Financial Times -
• Crocs Focuses on Long-Term Growth as Third-Quarter Profit, Sales Fall — Wall Street Journal -
• Russia’s Lukoil to Sell International Assets to Gunvor in Wake of U.S. Sanctions — Wall Street Journal -
• Hershey Raises Outlook as Cocoa Prices Moderate — Wall Street Journal -
• Cigna Posts Higher Profit, Revenue as Evernorth Business Continues to Grow — Wall Street Journal -
• Restaurant Brands Shrugs Off Consumer Caution with Strong Sales — Wall Street Journal -
• G.M. Will Cut 1,750 Jobs in Electric Vehicle Business — The New York Times Business -
• Onex, AIG to Jointly Buy Specialty Insurer Convex for $7 Billion — Wall Street Journal -
• Mastercard Profit Rises as Consumers Continue to Spend — Wall Street Journal -
• BYD Profit Drops as Competition Dents Revenue — Wall Street Journal -
• Kellanova’s Profit Falls on Weak Demand, High Costs — Wall Street Journal -
• Societe Generale Shares Fall as Buyback View Disappoints Despite Profit Beat — Wall Street Journal -
• BYD profit falls 33% as Chinese EV maker doubles down on overseas markets — Financial Times -
• Fox Revenue Rises on Higher Ad Sales — Wall Street Journal -
• Shake Shack Sales Climb in Third Quarter — Wall Street Journal -
• BP Presses Ahead With Major Discovery Offshore Brazil — Wall Street Journal -
• Russia’s Lukoil to sell international assets to Gunvor after US sanctions — Financial Times -
• Remy Cointreau Cuts Outlook as Challenges in China, U.S. Persist — Wall Street Journal -
• Shell Renews $3.5 Billion Quarterly Buyback Program as Earnings Rise — Wall Street Journal -
• BBVA’s Profit Suffers from Currency Hit Despite Strong Loan Growth — Wall Street Journal -
• WPP Cuts Guidance Again as CEO Says Turnaround Will Take Time — Wall Street Journal -
• TotalEnergies Posts Jump in Profit — Wall Street Journal -
• Carlsberg Beer Volumes Fall on Tough Consumer Sentiment — Wall Street Journal -
• Puma Targets More Job Cuts, Return to Growth in 2027 Amid Turnaround Plan — Wall Street Journal -
• Bud Brewer AB InBev Launches $6 Billion Buyback Despite Continuing Beer Sales Decline — Wall Street Journal -
• ING Launches $1.28 Billion Buyback as Earning Beat Expectations — Wall Street Journal -
• France’s Credit Agricole Profit Rises on Customer Activity — Wall Street Journal -
• Deutsche Lufthansa Sees Demand Stabilizing as Costs Eat Into Net Profit — Wall Street Journal -

A one-year trade truce between the US and China offers temporary relief to soybean farmers and eases rare earth export controls, despite underlying tensions and investor skepticism about a lasting accord, impacting automakers like Volkswagen and Hyundai.

• Soybean Farmers Find Relief in U.S. Trade Truce With China — The New York Times Business -
• FirstFT: Donald Trump and Xi Jinping react to US-China trade truce — Financial Times -
• China emerges as US ‘peer rival’ at Xi-Trump summit — Financial Times -

• A temporary truce in US-China trade tensions — Financial Times -
• Volkswagen, Hit by Tariffs, Reports $1.5 Billion Loss and Warns of Chip Shortage — The New York Times Business -
• Trump and Xi, Hoping to Ease Trade War, Agree to 1-Year Truce — The New York Times Business -
• Why Investors Seem Underwhelmed by the Trump-Xi Meeting — The New York Times Business -
• US and China agree one-year trade truce after Trump-Xi talks — Financial Times -
• China’s Pause on Rare Earth Controls: What to Know — The New York Times Business -
• Kimberly-Clark Profit Falls, Organic Sales Rise — Wall Street Journal -
• FirstFT: US and China agree one-year trade deal — Financial Times -
• Volkswagen Backs Guidance But Cautions on Chip Supply — Wall Street Journal -
• Stellantis Maintains Guidance Despite Warning of One-Off Costs — Wall Street Journal -
• China’s auto funding blitz and a US rush for rare earths — Financial Times -
• Hyundai Earnings Fall on U.S. Tariffs; Relief in Sight — Wall Street Journal -
• Toyota Says $10 Billion U.S. Investment Touted by Trump Isn’t New — The New York Times Business -

The pharmaceutical sector sees intense competition as **Novo Nordisk bids $9 billion for Metsera to challenge Pfizer in obesity drugs, while Eli Lilly, Biogen, Bristol Myers Squibb, and Merck report strong earnings driven by demand for new and flagship treatments, and the FDA aims to speed up approvals for cheaper biosimilar drugs**.

• Weight-loss drugs power Eli Lilly’s earnings — Financial Times -
• Novo Nordisk Seeks to Outmuscle Pfizer With $9 Billion Bid for Metsera — Wall Street Journal -
• F.D.A. Moves to Speed Approvals for Cheaper Copycat Drugs — The New York Times Business -

• Novo Nordisk gatecrashes Pfizer deal with $9bn bid for Metsera — Financial Times -
• Biogen Cuts Full-Year Earnings Guidance, Despite Third-Quarter Profit Rise — Wall Street Journal -
• Bristol Myers Squibb Profit Soars, Raises Revenue Guidance — Wall Street Journal -
• Merck Profit Rises on Strong Keytruda Demand — Wall Street Journal -

Central banks like the ECB and Bank of Japan maintain steady interest rates, while the Federal Reserve considers reducing banking supervision staff and acknowledges economic uncertainty from government shutdowns, with Argentina's new leader plotting significant economic overhauls and discussions on UK spending cuts.

• Federal Reserve plans to reduce banking supervision staff — Financial Times -
• ECB holds interest rates at 2% — Financial Times -
• Milei plots labour and tax overhaul for Argentina after election win — Financial Times -

• Now is the time for Argentina to float the peso — Financial Times -
• Retail traders being pushed into risky ‘professional’ bets, UK watchdog warns — Financial Times -
• Federal Reserve is ‘driving in the fog’ as shutdown clouds outlook, Powell says — Financial Times -
• Tips are taking the place of restaurant wages — Financial Times -
• British right and left alike struggle with spending cuts — Financial Times -
• French Socialists will climb down on wealth tax, says François Hollande — Financial Times -
• Crypto funds price war erupts as market opens to UK investors — Financial Times -
• Eurozone economy expands 0.2% in third quarter — Financial Times -
• A Month Without Data Muddles the Economic Picture — The New York Times Business -
• What’s the market pricing for US inflation? — Financial Times -
• Inflation and interest rates tracker: see how your country compares — Financial Times -
• Yen softens after Bank of Japan holds interest rates — Financial Times -
• Jay Powell thinks rates don’t have far to fall — Financial Times -