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Written by Teresa Lo, a market veteran who survived every crash since 1987.About →
A second strike on Riyadh’s airport killed one more person and took the death toll to 13, the United States told its airlines to use caution in Saudi airspace, and energy executives including BlackRock’s Larry Fink dropped out of conferences in the kingdom.
A bipartisan group of six senators has told the administration to reverse course immediately on buying Russian diesel, questioning its legality under Congress’s 2022 ban on Russian energy imports, while the Treasury secretary says the plan will go ahead.
Kristalina Georgieva told the fund’s annual meetings in Bangkok that AI investment is keeping global growth at about 3%, and in the same remarks called the technology’s effect on jobs and tax bases a slow-moving tsunami.
Volodymyr Zelenskyy said Russia had already violated the halt to energy strikes announced by Donald Trump, Russia hit a Ukrainian power plant hours after the announcement, and the United Kingdom, Germany and Poland restated their support for the Ukrainian president.
Reuters has gold retreating as markets wait for key US inflation data, while other accounts of the same session had it steady, edging up or rallying, and the structural bid from central banks and exchange-traded funds is the one thing they agree on.
The University of Michigan’s preliminary index dropped to 46.3 in October from 48.1 in September, and Bloomberg reports that Wall Street now treats the exhausted American shopper as the main threat to the equity market.
Brad Smith is calling for global rules and says the United Kingdom is best placed to lead, while the industry’s chief executives line up behind the White House’s preferred word for the technology.
The Institute for Fiscal Studies says Healey needs a top-up of billions of pounds to meet the government’s plans, while the chancellor prepares to tell the IMF that big economies must get their borrowing under control.
The US energy secretary puts flows through the Strait of Hormuz at 80% to 90% of where they were before the war, one report of the same remarks puts the recovery at 44%, and Saudi Arabia is looking for export routes that avoid the strait.
Bitcoin traded above $83,000 on Monday, with reports attributing the move to falling oil prices after the announcement of a halt to Russian and Ukrainian energy strikes rather than to anything in the crypto market itself.
A consortium led by the Trump donor Todd Boehly, backed by Washington, is positioning itself for Lukoil’s international assets, including refineries in Bulgaria, Romania and the Netherlands.
The People’s Bank of China has published a paper arguing its currency is not undervalued, days before EU-China trade talks that turn on exchange rates, and Barclays expects Beijing to tolerate further gradual appreciation.
Machine-parsed from RSS feeds tracking people and topics that I follow: 1,365 items in the last 48 hours, grouped into 12 stories, most-sourced first; none rejected by the checks.
Every week, I pick one thing investors are worrying about out loud and give it some thought in writing. Every Saturday, the free Lazy Portfolios Snapshot keeps score on eleven classic portfolios, cash and all.
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