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Five things to know about Argentina's pivotal midterm election
Two years after a stunning election victory, Argentina's libertarian president, Javier Milei, faces a tough legislative election on Sunday. Facing this "pro-Milei" bloc is the Peronist opposition, in power for 17 of the past 23 years.
Porsche loses almost one billion euros on shift back to petrol
German sports car maker Porsche sunk to a third-quarter loss of almost one billion euros ($1.16 billion), the firm said Friday, as it grappled with the costs returning to petrol and delaying its electric vehicle (EV) rollout. Porsche in September said it would delay the introduction of some fully electric cars and extend the life of some combustion engine and hybrid models.
P&G profits rise as company sees lower tariff hit
Procter & Gamble on Friday reported higher earnings fueled in part by an improved performance in China as it projected a lower hit from tariffs. The consumer products giant -- which announced a downsizing in non-manufacturing employment in June in the wake of the tariff onslaught -- now sees a hit of $500 million in fiscal 2026, down from an earlier forecast of $1 billion.
Spain probes steelmaker for alleged trading with Israeli arms firm
Spain's top criminal court said Friday it had opened an investigation into executives at steelmaker Sidenor for alleged complicity in crimes against humanity or genocide for trading with an Israeli arms company. UN investigators and several human rights groups, among them Amnesty International and Human Rights Watch, accuse Israel of committing genocide in Gaza.
US consumer inflation rose less than expected in September, delayed data shows
US consumer inflation continued to heat up last month, but by less than expected, according to official data published nine days late due to the ongoing government shutdown. The data provides economists and traders with some much-needed insight into the health of the world's largest economy, with almost all other official data releases halted due to the US government shutdown.
Russia cuts key interest rate, warns of tepid growth
Russia's central bank on Friday cut its benchmark interest rate and said growth had slowed to almost zero as the economy sags under the cost of the Ukraine offensive and Western sanctions. But the central bank says high rates are needed to bring down inflation that was still above eight percent in October, double the central bank's target.
China vows massive high-tech sector development in next decade
China will develop its high-tech sector on a massive scale in the next decade, top officials vowed Friday, a day after meetings on the country's future policy priorities concluded in Beijing. "The new scale added in the next 10 years is expected to reshape China's high-tech sector," development official Zheng Shanjie told reporters at a news conference.
French government faces threat of censure over wealth tax
A swing group in French parliament on Friday said that if a 2026 budget bill was not changed to include a tax on the supremely wealthy, it would vote down the government. But the Socialists, a swing group in the hung National Assembly, have also demanded a tax on the ultra-rich, which Lecornu has refused and not included in the draft budget.
EU accuses Meta, TikTok of breaking digital content rules
The EU accused Meta and TikTok on Friday of breaking the bloc's digital content rules, putting the companies at risk of hefty fines. EU digital spokesman Thomas Regnier pushed back on Friday against accusations, especially from the United States, that the DSA is a tool of censorship.
AFP
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