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Global markets opened choppy as Fed‑cut bets and the CME trading halt added volatility. S&P 500 and Nasdaq futures drifted while Dow futures held firmer; AI names showed resilience even as chip and China property jitters weighed. Gold rallied on rate‑cut odds; bank loan deals for AI data centres remain a major market catalyst.
A catastrophic high-rise inferno in Hong Kong has left scores dead and hundreds missing, triggering a major rescue operation and stoking public fury. Insurers and the government face mounting claims and scrutiny as authorities promise a full probe.
128 – Confirmed deaths in Hong Kong apartment inferno, highest toll in recent memory.
A National Guard member has died after a brazen shooting near the White House, intensifying political pressure. The administration has ordered a review of immigration records tied to the case, signalling immediate policy moves.
Investigations reveal the DC shooting suspect formerly worked with US intelligence, raising national-security questions. Authorities continue to piece together motive and timeline as the probe expands.
Boohoo shares jump as all brands return to profit
Boohoo regained profitability across its brands, sending shares higher and signaling a turnaround for the fast‑fashion retailer after margin pressure and restructuring.
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President Trump’s administration unveils sweeping migration curbs while floating radical tax cuts tied to tariff revenue. The twin moves signal aggressive policy shifts with major economic and political implications.
A technical cooling failure at a major data centre forced the Chicago Mercantile Exchange to halt trading, snarling futures and options markets. Sequels of trading pauses and market interruptions underscored infrastructure fragility.
Samancor Chrome to cut 2,500 jobs as demand slumps – union
South Africa’s Samancor Chrome plans major layoffs to reduce costs amid weak commodity demand, a move that will hit local communities and underscore pressures in mining supply chains.
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OpenAI confirms a data exposure tied to an analytics partner and moves to cut vendor access, while its partners amass huge debt to scale data centres. The incidents sharpen scrutiny on security and the financing of AI infrastructure.
South Korean investigators link the Upbit crypto heist to the Lazarus hacking group, reviving fears over state-backed cybercrime. The breach deepens pressure on exchanges and highlights persistent security gaps in crypto markets.
EU moves to hold platforms liable for online financial scams; Council narrows chat‑scanning proposal. DHS orders a full green‑card review after the DC shooting; Japan finalises extra stimulus budget funded mostly by debt.
Taiwanese prosecutors have raided homes tied to senior chip executives amid allegations of leaked trade secrets, escalating a cross-border tech rivalry. The probe threatens talent flows and raises national-security stakes in the semiconductor race.
Brussels tightens rules on platform responsibility for online fraud and reworks chat‑scanning proposals amid privacy pushback. The twin moves mark a new phase in EU efforts to regulate Big Tech and online harms.
“I will permanently pause migration from all Third World Countries to allow the U.S. system to fully recover.”
— President Donald Trump
Kremlin signals willingness to discuss a US-backed peace outline even as frontline exchanges intensify, including recent large-scale drone launches. The diplomatic manoeuvring sits against renewed battlefield pressure.
Russia’s president will visit India for a state visit while Hungary’s leader heads to Moscow to discuss energy, underscoring shifting European‑Asian diplomatic ties. These meetings could reshape energy and geopolitical alignments.
Deutsche Börse is in talks to acquire the fund‑platform Allfunds as exchanges pursue scale, while JPMorgan doubles down on London with a new Canary Wharf tower. The moves reflect consolidation and long‑term bets on finance hubs.
China property jitters resurface as Vanke bond moves rattle credit markets, while Hong Kong dollar bond issuance hits record levels as issuers diversify funding. Markets watch for contagion amid still‑fragile sentiment.
France’s economy posts steady third‑quarter growth while inflation holds at low levels, giving policymakers room to calibrate. Data leaves markets weighing growth resilience against sluggish price pressures.
Gold eyes a fourth consecutive monthly gain as markets price in US rate cuts and central‑bank buying. Strong forecasts from major banks push analysts to re‑rate bullion as a hedge for 2026.
European stocks end a choppy month with modest gains as investors digest Fed‑cut bets and corporate flows. Earnings and takeover whispers drive pockets of strength, notably in sporting and retail names.
Baidu announces layoffs after a quarterly loss even as it emerges as a domestic AI‑chip contender, reflecting industry pain and strategic pivoting. Chinese tech firms shift to chip development to offset external restrictions.
Banks are lining up to finance the AI data‑centre boom with multibillion‑dollar loans, underscoring the scale of capital needed to support AI growth. The potential $38bn loans would reshape data‑centre financing and credit exposure.
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