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US Fed's favored inflation gauge cools in September
The US Federal Reserve's preferred inflation measure cooled further last month and now sits just above its long-term target, according to government data published Thursday, shortly before the presidential election. Given the surge in post-pandemic inflation, the fact that headline inflation now sits just a tenth of a percentage point away from the Fed's target is a significant achievement.
Musk to appear in court as part of Trump campaign suit
Billionaire Elon Musk was expected in court in Philadelphia on Thursday, after a judge ordered him to attend a hearing in a lawsuit seeking to halt his $1 million giveaways to registered US voters in swing states. "It is further ordered that all parties must be present at the time of the hearing," judge Anne Marie Coyle said.
Sales slump 27% at carmaker Stellantis
Stellantis, the carmaker which owns the Jeep, Peugeot and Fiat brands, said Thursday that its sales fell 27 percent in the third quarter because of market difficulties in North America. Stellantis -- which has a vast stable of 15 car brands -- has hit a rough patch after years of record profits after its foundation in 2021 with the merger of PSA (Peugeot-Citroen) and FCA (Fiat-Chrysler).
EU probes shopping app Temu over illegal products
The EU launched a formal investigation Thursday into Chinese-founded e-commerce platform Temu on suspicion the site is doing too little to stop the sale of illegal products, in a probe that could lead to large fines. The EU wants to know more about the systems Temu has in place to "limit the sale" of illegal products as well as how the platform restricts their "reappearance".
Eurozone inflation rebounds more than expected in October
The eurozone's annual inflation rate rebounded more than expected in October due to rising food costs, official data showed on Thursday, but remains in line with the European Central Bank's two-percent target. Other Eurostat data published on Thursday showed the unemployment rate in the single currency area remained stable at 6.3 percent in September. raz/ec/rl
Hong Kong economic growth misses forecast in third quarter: data
Hong Kong's economic growth in the third quarter missed analyst estimates as private consumption weakened, according to government figures released Thursday. Private consumption decreased by 1.4 percent in the third quarter, which authorities attributed to "the change in residents' consumption patterns".
All eyes on US TV networks for 'high stakes' election night
Facing a results vacuum that could grind on for weeks, US TV networks are preparing to fill the airwaves against a backdrop of unprecedented pressure to avoid mistakes and a torrent of disinformation. With no official results for weeks, it falls to the TV news networks to call states for either former president Donald Trump or Vice President Kamala Harris.
Bank of Japan warns of 'high uncertainties' after election
The Bank of Japan warned Thursday of "high uncertainties" following the ruling party's worst election result in 15 years, as it kept interest rates unchanged. The BoJ on Thursday kept its main short-term policy rate at 0.25 percent, as widely expected, warning of "high uncertainties surrounding Japan's economic activity and prices".
Samsung Q3 operating profits soar to $6.6 bn, miss forecast
South Korea's Samsung Electronics said Thursday that its operating profits soared 277 percent on-year to $6.6 billion but missed expectations as it struggled to leverage demand for chips used in artificial intelligence servers. The world's largest memory chip maker posted an operating profit of 9.18 trillion won ($6.6 billion) "largely due to one-off costs".
AFP
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