United Airlines expects its year-end profit to come in 43% below forecasts as jet fuel nears $4.80 a gallon, Alaska Air warns of a loss, and Ryanair says Europe's fares may rise 20% next year

The rest of the day

37 more stories on this beat.

Each with its own sources. None of these is a link to the story above.

1. 02

   GM beats forecasts, but its shares fall 7%

   General Motors, one of the biggest US carmakers, said its core profit rose 22% to $4.1 billion in July to September, beating forecasts. [12] Core profit here means profit before interest and tax, leaving out one-off items. [12] Pricey pickups and SUVs sold well, and GM sold fewer electric cars, which have usually lost it money. [12] It approved a $20 billion plan to buy back its own shares, with no timetable. [12][13] Its shares still fell 7%, the worst in the S&P 500 index. [8]

   Why it matters — GM said the path ahead is harder, as energy, transport and tariff costs rise. [12] It still expects next year to be better, assuming shoppers keep buying and those costs ease. [12]

2. 03

   Oil touches its highest since May, then falls

   Brent crude, the world's main oil price, nudged $112 a barrel on Tuesday, its highest since May, before closing below $109. [8][26][9] It fell after an unconfirmed report of new efforts to end the US-Iran war. [9] A diplomat in the talks then said reports that a deal was close were wrong. [9] Brent has risen almost 80% this year. [9] Oil exports from the Persian Gulf have passed their pre-war level, helped by a shipping system run under US protection. [45]

   Why it matters — Its price feeds into jet fuel, which is eating into airline profits. [1] Higher oil also keeps alive the fear of inflation that central banks are fighting. [26]

3. 04

   US borrowing costs ease after weak house-building

   The interest rate on ten-year US government bonds fell to about 5.1% on Tuesday. [24][64] It eased after the number of new homes started fell 5.2% in September, well short of forecasts. [25] US mortgage rates are already about 7.43%. [65] Nearly all economists in a Reuters poll expect the US central bank to hold rates at its meeting on 27 and 28 October, then raise them in December. [26]

   Why it matters — The housing slump complicates the US central bank's fight against inflation. [65] If it raises rates as expected, mortgage rates could rise further. [65]

4. 05

   France's borrowing gap is the widest since 2011

   The extra interest France pays to borrow for ten years, compared with Germany, closed at its widest since 2011 on Tuesday. [8] The cost of insuring against France failing to repay its debts reached its highest since 2013. [8] France's parliament is voting on the tax side of next year's budget after a weekend of riots. [24] France's government will use soldiers to guard sites during protests planned for Saturday. [49]

   Why it matters — A wider gap means every new loan costs France's government more. [24] A Commerzbank analyst said any French government must now choose between markets that want cuts and protesters who want more spending. [24]

5. 06

   Carrefour cuts its profit target after riots

   Carrefour, one of France's biggest supermarket chains, cut its profit target for 2026 after riots damaged or looted about 50 of its stores. [22] Its sales had risen 3.9% to 22.7 billion euros in July to September, before the trouble. [21] Its bosses said the riots could cut its yearly operating profit by up to 200 million euros. [21] It now expects to have slightly less cash left over than in 2025. [21]

   Why it matters — Damaged shops, fewer shoppers and higher security bills are how a weekend of riots becomes a smaller profit. [21] Carrefour's shares barely moved, which suggests investors had expected the cut. [22]

6. 07

   Battery giant CATL's growth slows

   CATL, the Chinese company that makes about 39% of the world's electric-car batteries, said profit rose 14.5% to 21.2 billion yuan in July to September. [14] Analysts had expected about 41%, and it was its slowest growth in nearly two years. [14] Chinese car sales are cooling and rivals are pushing prices down. [14][16] It is also selling more batteries for storing power, which earn less. [15][16] Its Hong Kong shares fell 9.4% to a 15-month low. [15]

   Expected profit growth41.2%

   Actual profit growth14.5%

   Why it matters — CATL supplies Tesla, BMW and Volkswagen, so its prices matter for electric cars well beyond China. [16] Its share of new car batteries in China fell to 40.9% in September from 49.8% in January, as its rival BYD gained. [14]

7. 08

   Most of Anthropic's $80bn loss is accounting charges

   Anthropic, the company behind the Claude AI models, lost $80.7 billion in the first half of 2026. [54] That is in a draft of its share-sale filing seen by the Wall Street Journal. [54] About $72 billion of that came from accounting charges. [53] They reflect changes in the value of convertible notes, which are loans that can turn into shares, and other deals it used to raise money. [53][54] Sales were $16.3 billion, up from $1.1 billion a year earlier. [53][55] Reuters could not check the report. [53]

   • Accounting charges72 · 89%
   • Rest of the loss8.7 · 11%

   Why it matters — Investors at Anthropic's investor day discussed a value of about $1.5 trillion, below the $2 trillion expected for its share sale in November. [53] Orlando Bravo, who runs the investment firm Thoma Bravo, said listings this big will crowd other companies out. [56]

8. 09

   Oil companies await a war windfall

   Big oil companies are set to report much higher profits for July to September, Reuters reports. [19] Shell, BP and TotalEnergies expect their refining margins, the gap between what fuel sells for and what crude costs, to be three to four times last year's. [19] Shell expects a record $42 a barrel. [19] Chevron and Exxon have used extra cash to pay down debt. [19] BP stopped buying back its shares this year to cut its debt. [19]

   Why it matters — HSBC expects Shell to raise its share buybacks to $3.5 billion a quarter. [19] Shell and TotalEnergies report on 29 October, and BP, Chevron and Exxon on 30 October. [19]

9. 10

   Capital One earns more as fewer loans go bad

   Capital One, a big US credit-card lender, made a profit of $3.54 billion in July to September, up from $3.19 billion a year earlier. [17] It set aside $2.9 billion for loans that may not be repaid, well below the $3.6 billion analysts expected. [18] It is still joining up Discover, the card company it bought for $35 billion. [17] It bought back $2.6 billion of its own shares in the quarter. [18]

   Why it matters — Its loans held up well despite worries about high energy prices. [18] Its boss said it will spend more on advertising next year to win customers from rivals. [18]

10. 11

    Netflix's sales growth slows, and shares fall 6%

    Netflix, the biggest streaming service, said revenue rose 11.8% to $12.87 billion in July to September, its slowest rise in nearly three years. [51] It expects less profit than analysts did for October to December. [51] It cut its forecast for this year's advertising sales to about $2.7 billion, from $3 billion. [51] Its shares fell about 6% after hours, having already fallen more than 40% in a year. [51][52]

    Why it matters — Netflix cut about 1,000 jobs and changed its programme bosses last week. [52] Ted Sarandos, one of its two chief executives, said 'we could do better'. [51]

11. 12

    Bank of Japan may raise its price forecast

    The Bank of Japan, the country's central bank, may raise its forecast for price rises next year, four sources told Reuters. [28] Higher oil prices are lasting longer than it expected. [28] It is expected to keep its main interest rate at 1.25% at its meeting ending on 30 October, after raising it last month. [28] That could leave room for another rise as soon as December. [28]

    Why it matters — The yen rose after record demand at a sale of 20-year Japanese government bonds. [30] A State Street strategist said these bonds are starting to look like a safer place for money than France's. [30]

12. 13

    Japan's exports grow less than expected

    Japan's exports rose 16.7% from a year earlier in September, well short of the 20.1% analysts expected. [29] Growth slowed for a second month in a row, after a near four-year high in July. [29] Chips grew 49.4% and chipmaking machines 43.9%. [29] Japan's oil imports from the US rose nearly 820% in value, while those from the Middle East barely moved. [29]

    Forecast20.1%

    Actual16.7%

    Why it matters — Exports have driven Japan's growth this year, so a slowdown matters for the Bank of Japan's next step. [29] The war has pushed Japan to buy oil from the US instead of the Gulf. [29]

13. 14

    Australia's central bank warns on prices

    Andrew Hauser, deputy governor of the Reserve Bank of Australia, said the outlook for prices looks 'materially worse', partly because of high oil prices. [31] The bank meets on 3 November to decide whether to raise its 4.60% rate for a fifth time this year. [31] Markets put the chance of a rise at about 40%, up from 30% at the start of the week. [31] Price figures for July to September are due next week. [31]

    Why it matters — Hauser said interest rates cannot fix an oil shock. [31] He said they must stop higher costs feeding into what people expect prices to do next. [31]

14. 15

    Asian chip shares bounce back

    Asian shares rose on Wednesday after two days of falls. [44] South Korea's main share index jumped about 3.7%, led by Samsung Electronics, up 7.1%, and SK Hynix, up 6.2%. [44][45] Both are big makers of memory chips. [44] SK Hynix had fallen 31% in October, to its lowest since April. [46] Strong results from US companies tied to AI helped lift the mood. [44]

    Why it matters — An MUFG analyst said worries remain about whether AI spending can last. [45] Another analyst said investors now ask who is paying for AI, and on what terms. [45]

15. 16

    US shares rise as oil falls back

    The Dow Jones index of big US companies rose 1% on Tuesday, and the wider S&P 500 rose 0.3%. [8] The Russell 2000 index of smaller companies rose 1.7%, its biggest gain since 4 August. [8] Shares rose after oil fell back and several companies reported good results. [46] Healthcare companies led, up 2.3%, and Equifax and Hasbro were the biggest gainers in the S&P 500. [8]

    Why it matters — The market had been falling on worries about AI companies' debts and demand. [46] Chip shares fell hard last week before Tuesday's partial recovery. [46]

16. 17

    Adidas raises its profit forecast

    Adidas, the German sportswear maker, raised its 2026 profit forecast to 2.5 billion euros, from 2.3 billion. [20] Its operating profit hit a record 1.01 billion euros in July to September, up 37%. [20] About 200 million euros of US tariff refunds after a court ruling helped, along with more goods sold without discounts. [20] It plans to spend about 100 million euros of that windfall in the last quarter. [20]

    Why it matters — Importers are getting back an estimated $166 billion after the US Supreme Court struck down Trump's 'reciprocal' tariffs in February. [41] Adidas gave the figures in an unplanned statement, ahead of its full results on 29 October. [20]

17. 18

    3M raises its profit forecast

    3M, the US maker of Scotch tape, Post-it notes and safety gear, raised its 2026 forecast to $9.10 to $9.15 a share, from $8.80 to $8.95. [23] It credited cost cuts and higher prices. [23] Sales of materials for chipmaking and data centres grew, while car and electronics customers bought less. [23] Its shares rose about 4% on Tuesday. [46]

    Why it matters — 3M sells to thousands of factories, and it said US industry stayed strong. [23] Higher energy costs are still a worry for factory demand, it said. [23]

18. 19

    UK bank shares fall as a bank tax looms

    UK bank shares fell nearly 2% on Tuesday, to their lowest in more than four months. [32] HSBC, Lloyds and NatWest fell 1.6% to 2.3%. [32] The Guardian has reported that John Healey, the UK's finance minister, is likely to raise taxes on banks in his budget on 28 October. [33][32] Analysts at UBS estimate that doubling banks' extra tax to 6% would cut UK banks' profits by about 2%. [33]

    Why it matters — Banks argue that taxing them makes loans dearer for everyone. [33] Lenders that do most business in the UK, such as NatWest and Lloyds, would feel it most, UBS says. [33]

19. 20

    Paddy Power's owner to cut up to 1,400 jobs

    Flutter, which owns the betting brands Paddy Power and Sky Bet, plans to cut up to 1,400 jobs. [34] It blamed higher gambling taxes in the UK's 2025 budget, which raised the tax on online casino games from 21% to 40%. [34] Most cuts fall in the UK and Ireland, where it employs 8,960 people, in places such as Leeds, Dublin and Sunderland. [34] Paddy Power's founder has accused the industry of scaremongering. [34]

    Why it matters — The news lands a week before the next UK budget, where a tax on slot machines may rise. [34] A person in the industry said Flutter's merging of its brands also played a part. [34]

20. 21

    Thames Water's lenders pick a chair

    Lenders trying to take over Thames Water, Britain's largest water company, chose John Hutton, a former Labour minister, as its future chair. [35] They offer a 10 billion pound rescue, which the UK government must approve. [35] Thames serves 16 million customers and recently asked its lenders for 2.4 billion pounds more. [35] Andy Burnham, the UK prime minister, has asked officials for bolder options. [35]

    Why it matters — Before he became prime minister, Burnham said he would put Thames into public ownership. [35] Choosing a well-known former minister is the lenders' attempt to win over the UK government. [35]

21. 22

    Jio's record share sale opens to the public

    Jio Platforms, India's biggest phone company by number of users, opened its share sale to the public on Wednesday. [37][38] It hopes to raise about 302 billion rupees, which could make it India's biggest share sale ever. [36] At the top price it would be worth about $108 billion. [37] Lenders and brokers are offering small investors loans to buy in. [38] The sale closes on Friday and the shares start trading on 28 October. [37]

    Why it matters — Most of the money will repay Jio's debts rather than build anything new. [37] Bankers said strong buying by small investors matters because India's main share index has fallen more than 10% this year, among Asia's worst. [38]

22. 23

    The US courts Reliance's giant refinery

    Marco Rubio, the US secretary of state, said the US wants to work more closely with Reliance Industries on refining oil from the Americas. [40] Reliance's Jamnagar refinery in India is the world's largest at one site, processing 1.4 million barrels a day. [40] By the end of September Reliance was the biggest buyer of Venezuelan oil outside the US. [40] India's main share index rose about 1% on Wednesday on hopes of a trade deal with the US. [39]

    Why it matters — The Trump administration wants India to buy Venezuelan oil instead of Russian oil. [40] Trump said in March that Reliance would help pay for the first new US oil refinery in 50 years. [40]

23. 24

    A cheese importer sues over Canada tariffs

    Gellert Global Group, a US food importer, sued to overturn President Trump's 50% tariffs on some Canadian goods. [41] Trump imposed them in July under Section 338, a 1930 law never before used for a tariff, on goods from wine and honey to hockey sticks. [41] The importer wants the tariffs ruled unlawful and refunded with interest. [41] Its lawyers won the case in which the US Supreme Court struck down Trump's 'reciprocal' tariffs in February. [41]

    Why it matters — The US government is already refunding about $166 billion of those earlier tariffs. [41] Ken Griffin, who runs the investment firm Citadel, called the tariffs on US allies 'a disaster' that pushed prices up. [42]

24. 25

    Mortgage giants stay under US control

    Scott Bessent, the US Treasury secretary, said changes to who owns Fannie Mae and Freddie Mac will come 'next year, the year after'. [43] The two mortgage giants have been run by the US government since the 2008 financial crisis. [43] President Trump said this summer he was thinking about selling some of the US government's shares. [43] Releasing them is likely to push mortgage rates up, and Bessent has called mortgage rates 'our North Star'. [43]

    Why it matters — US mortgage rates recently reached their highest since November 2023. [43] Housing starts fell 5.2% in September, the same day. [43]

25. 26

    Gold falls for a fourth day

    Gold fell for a fourth day on Wednesday, to about $4,118 an ounce. [26] Higher oil prices have raised fears of inflation, which could keep interest rates high. [26] Gold pays no interest, so it does worse when rates rise. [27] It has fallen by about a fifth since the US-Iran war began in late February. [27]

    Why it matters — Traders see about a 90% chance that the US central bank raises rates in December. [26] If those expected rises fall away, one analyst said, gold would likely go up. [26]

26. 27

    European gas tops 90 euros, then slips

    European natural gas prices topped 90 euros a megawatt-hour, a unit of energy, for the first time in almost four years, then fell as much as 5.3%. [47] Prices are still more than double their level before the war. [47] Europe's gas stores are about 75% full, the lowest for this time of year in records going back to 2009. [47] Germany's are just over 61% full. [47]

    Why it matters — Europe may have to outbid Asian buyers for gas cargoes this winter. [47] European governments have so far refused new price caps, because their budgets are stretched and borrowing is dear. [47]

27. 28

    Qatar gets more gas out despite the war

    Qatar, one of the world's biggest sellers of liquefied natural gas, is shipping more of it despite the war. [48] One tanker is heading to Poland, and at least 20 more cargoes have passed the Strait of Hormuz since early September. [48] QatarEnergy restored exports to about a third of pre-war levels in September, Bloomberg reported. [48] Some ships hand their cargo to other tankers in the Gulf of Oman. [48]

    Why it matters — More Qatari gas could ease Europe's winter squeeze. [48] The IMF expects Qatar's own economy to shrink by 15.6% this year. [48]

28. 29

    The pound and Canada's dollar rise

    The US dollar fell 0.25% against other major currencies on Tuesday. [30] The British pound rose 0.59% to $1.338 after UK jobs data came in stronger than expected. [30] Markets almost fully expect the Bank of England to raise rates on 5 November. [30] Canada's dollar reached its strongest in almost a month after voters in Alberta, an oil-rich province, chose by a large majority to stay in Canada. [30]

    Why it matters — Traders stayed wary of the euro because of France's protests and debts. [30] A strategist at Handelsbanken said the worries about France are not going away soon. [30]

29. 30

    Boeing's biggest 737 is finally approved

    The US aviation regulator approved Boeing's 737 Max 10 on Tuesday, the largest plane in its best-selling family, which seats up to 230 people. [10] It was due to start flying in 2020, but two crashes in 2018 and 2019 and safety fixes delayed it. [10] United, Delta, American and Alaska have ordered it, and it is about 30% of Boeing's Max orders. [10] Ryanair expects 16 of them in early 2027. [5]

    Why it matters — Sean Duffy, the US transport secretary, said Boeing gets a plane approved in Europe in less than half the time it takes in the US. [10] He said US approvals must get faster to compete with China. [10]

30. 31

    Airlines avoid Riyadh's reopened airport

    The main airport in Riyadh, Saudi Arabia's capital, reopened on Sunday, but most flights this week have been cancelled. [11] Lufthansa suspended flights until 18 November and Cathay Pacific until the end of January. [11] Attacks damaged six planes insured for about $375 million, the Wall Street Journal reported. [11] Saudi airlines moved planes worth up to $4 billion out of the city. [11]

    Why it matters — Travellers are driving to Bahrain, Qatar and the UAE to catch flights. [11] The rich are paying more than 50% above pre-war prices for private jets from another airport four hours away. [11]

31. 32

    UAE says no planned investment was cancelled

    No foreign company has cancelled a planned investment in the United Arab Emirates this year despite the war, a senior UAE official said. [63] Some are waiting, delaying or investing a little less, he said. [63] The UAE drew a record $48.24 billion of foreign investment in 2025, the most in the Middle East. [63] Its target is $65 billion a year by 2031. [63]

    Why it matters — This is the UAE government's own account, and the official said this year's total may be slightly below 2025's. [63] He said investors now better understand how the UAE handles a crisis. [63]

32. 33

    HSBC's boss warns on data centre loans

    Georges Elhedery, head of HSBC, Europe's biggest bank, said lenders must be choosy about data centres, the buildings full of computers that AI runs on. [57] He said the tenants and the prices in their contracts decide whether a deal is sound, and some are 'more challenging'. [57] McKinsey, a consulting firm, estimates world spending on data centres could reach $7 trillion by 2030. [57] Big tech companies are borrowing more to build them. [57]

    Why it matters — HSBC both lends to data centres and runs some, so the warning covers a market its own bank is in. [57] Big tech's growing bond sales also compete with others for lenders' money, the economist Mohamed El-Erian has said. [57]

33. 34

    Senegal's parliament leader attacks the debt plan

    Ousmane Sonko, who leads the majority in Senegal's parliament, criticised Senegal's government for using a debt plan backed by the G20, a group of big economies. [58] He said Senegal only needs to change when it repays, since lenders have refused to cut what it owes. [58] He objected to Senegal being the first country to test the G20 scheme. [58] The US wants the restructuring finished within a year. [58]

    Why it matters — Sonko says the problem is a shortage of cash, not too much debt. [58] He warned of political deadlock if Senegal's government does not change course. [58]

34. 35

    Walmart bundles its two memberships

    Walmart, the biggest US retailer, launched a joint membership for Walmart+ and its Sam's Club warehouse stores at $120 a year. [59] That is nearly $100 less than buying both separately. [59] It includes free delivery from both, money off petrol, a streaming service and 2% cash back at Sam's Club. [59] Walmart is chasing shoppers squeezed by high fuel and food prices. [59]

    Why it matters — Walmart is betting that cheap delivery and petrol discounts keep hard-pressed shoppers coming back. [59] There is no monthly option, so buyers pay the whole year at once. [59]

35. 36

    Bunzl holds its forecast

    Bunzl, a British company that delivers everyday supplies to other businesses, said underlying revenue rose 3.7% in July to September. [60] It kept its forecast for the year. [60] Its North American business, more than half its sales, has steadied after a reshuffle and cost cuts. [60] Elliott, an activist investor that owns about 5%, has pushed it to buy back up to 10% of its shares. [60]

    Why it matters — Bunzl's shares still fell 2.2% on Tuesday. [32] The company says it wants to keep money spare for buying smaller firms. [60]

36. 37

    German home loans cost the most since 2009

    A ten-year home loan in Germany now costs close to 4.5%, the most since the 2009 financial crisis, said Interhyp, a big German mortgage broker. [61] It was 3.9% as recently as May. [61] Interhyp blamed fears that the Iran war will keep prices and interest rates high. [61] On an average loan, the rise adds almost 200 euros a month. [61]

    3.9%Ten-year loan, May

    vsvs

    4.5%Ten-year loan, now

    Why it matters — The European Central Bank has raised its rate twice this year, to 2.5%. [61] German house prices still rose 0.6% in the year to June. [61]

37. 38

    DLF's luxury homes sell again

    DLF, one of India's biggest property developers, took bookings worth 38 billion rupees in July to September, up from 6.57 billion in the quarter before. [66] It had launched almost no new projects for a year before that. [66] Most came from its very expensive Dahlias flats and a sold-out new retirement project in Gurugram, near Delhi. [66] Bookings were still lower than a year earlier. [66]

    Why it matters — Gurugram's housing market is slowing as fewer homes sell, so DLF's sales rest on rich buyers. [66] Its target of 200 billion rupees for the year looks a tall ask, Mint reports. [66]