Scott Bessent to miss Bangkok IMF–World Bank meetings
Francis Brooke and Erin Browne will lead Treasury’s delegation as the United States presses for sovereign-debt transparency and changes at international financial institutions.
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Business
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Euro heads for fifth weekly decline as oil recovers from lows
The euro lost its early gains on Friday as oil recovered from intraday lows. French debt concerns and US interest-rate expectations remained in focus, although France’s bond...
EU announces China hybrid-car export deal, with implementation unresolved
The EU trade chief says an understanding with Beijing could more than halve Chinese hybrid-car exports over four years. Its detailed terms and effects remain unverified.
Revolut CEO sets out ambitions beyond banking, citing transaction-trained AI
Nik Storonsky says Revolut wants to build a broader range of technology products. Existing mobile services show its reach beyond banking, but no new launch timetable was disclosed.
Christian Bittar’s Euribor conviction overturned by Court of Appeal
The former Deutsche Bank trader’s conviction has been quashed, following five other successful appeals this week and a Supreme Court ruling on defective jury directions.
Fed survey finds modest family wealth gains as heavy debt burdens rise
Median family wealth rose 2% between 2022 and 2025, while the share of families with debt payments exceeding 40% of income reached its highest level since the 2013 survey.
SpaceX agrees to buy Grain spectrum for Starlink Mobile, pending FCC approval
The nationwide 800 MHz portfolio would support a network combining ground infrastructure and satellites. Consumer launch timing, prices and tested performance remain unspecified.
Bank surcharge cut cost UK £6bn over three years, TUC estimates
The union body wants higher bank taxes to fund energy-bill support. Government records show the 2023 surcharge cut coincided with a rise in banks’ combined headline tax rate.
Qualcomm case against Arm heads toward jury decision on licensing dispute
Jurors will consider disputed claims over licensing support, pricing and dealings with Meta, while separate decisions on negotiations and royalties remain outstanding.
Stellantis CEO says Wayve could cut assisted-driving costs and development time
Antonio Filosa outlined the partnership’s economic case as Fiat and Maserati prototypes demonstrated hands-free driving in Turin. Savings remain unquantified, with a North...
IllustrationTelecom stocks slide as SpaceX spectrum deal raises competition fears
US and European telecom shares fell after SpaceX agreed to buy Grain Management’s nationwide spectrum portfolio. Tower companies gained as investors anticipated demand for...
Money market funds draw $153.81 billion as bond funds also gain
Global money market funds recorded their largest weekly inflow since May 6, Reuters reported, while bond funds attracted $26.03 billion despite selling pressure in bond markets.
Yandex reports second data-centre strike as recovery questions remain
A drone strike partly disabled Yandex’s Kaluga facility after its Sasovo hub shut down a day earlier. Equipment damage and the extent of service disruption remain unclear.
Xpeng targets overseas robotaxi trials in 2027, with cities undisclosed
President Brian Gu outlined plans for overseas pilots, while forecasting wider robotaxi deployment within two to three years. No trial destinations were named.
S&P 500 nears four-year bull run as AI concentration grows
The ten largest companies now account for about 40% of the benchmark, according to figures cited by Reuters, making AI earnings increasingly important to the wider rally.
AI-linked companies expected to drive most S&P 500 earnings growth
Analysts expect third-quarter earnings to rise about 31%, with technology and AI-linked heavyweights contributing roughly two-thirds of the increase.
7-Eleven considers more in-house supply-chain work as consumers cut spending
The North American business is exploring further cost reductions while reporting stronger operating profit supported by fuel conditions and existing integration efforts.
UK financial sector rehearses global cloud disruption with 38 institutions
The Bank of England expects firms to act on lessons from SIMEX26, which brought major banks and market infrastructure operators together. Detailed results have not been published.