Traders bet the US, euro-zone and Japanese central banks wait this week and raise in December, while Canada's is expected to raise on Wednesday

The rest of the day

26 more stories on this beat.

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

1. 02

   Alphabet, Microsoft and Amazon report

   Alphabet, which owns Google, and Microsoft report results on Wednesday, and Amazon on Thursday. [1] About a third of the companies in the S&P 500, the index of 500 big US firms, report this week. [1] The biggest cloud and AI firms, these three and Meta among them, are expected to spend about $800 billion this year on buildings and equipment, Reuters says. [1] Alphabet's shares fell 6% last week ahead of its results. [17]

   Why it matters — Investors want to know whether that spending earns money, after Meta's results last week sent its shares down 7% in a day. [17] That spending also pays a wide range of firms that supply the building, so the answer reaches well beyond these three. [1]

2. 03

   France's budget returns to parliament

   France's National Assembly, the main chamber of its parliament, resumes debating the budget's tax measures on Tuesday 27 October. [15] France's government wants to cut its yearly deficit to 5% of the economy in 2027, from 5.4% this year. [15] Moody's, a credit rating firm, kept France's grade on Friday but warned that a split parliament blocks the cuts. [16] France's public debt is a record $4 trillion, 119% of the size of its economy. [16]

   Why it matters — More protests were planned for Saturday, after riots the weekend before, and fund managers are weighing whether they make the cuts harder to pass. [15] France's ten-year borrowing rate is already at a 24-year high. [7]

3. 04

   Nvidia's promises to its customers are tested

   Nvidia, whose chips run most AI, has promised to cover $36 billion of deals for smaller AI cloud firms if they fail, its July filing shows. [18] It also guarantees up to $105 billion for an OpenAI data centre planned in Ohio. [18] Shares in three of these firms, CoreWeave, Nebius and IREN, are down at least 30% this month. [18] Torsten Slok, chief economist at Apollo, an investment firm, says firms are not yet earning enough from AI to pay high prices for it. [19]

   Why it matters — If a customer cannot pay, Nvidia pays instead, so the risk of the AI building boom sits partly with Nvidia's own shareholders. [18]

4. 05

   Audi plans its first US factory

   Audi, the luxury car maker owned by Volkswagen, plans a $4 billion factory in Georgia, Donald Trump announced at a rally on Saturday. [20] It would build 200,000 SUVs a year and create about 4,500 jobs. [20] US tariffs cost Audi 1.2 billion euros last year, because it imports every car it sells in the US. [20][21] Building starts next year, and cars only in the early 2030s. [21]

   Why it matters — Critics say Trump's tariffs have raised car prices. [20] Trump is using the plant to argue that they bring jobs to Georgia, which has close races for the US Senate and for governor. [20]

5. 06

   Kotak's profit beats forecasts

   Kotak Mahindra Bank, India's third-largest private bank by stock market value, made a profit of 42.11 billion rupees in July to September. [22] That beat the 41.04 billion analysts expected, and was up from 32.53 billion a year earlier. [22] Its loans and other lending to customers grew 21% in a year. [24] But its margin, the share it earns on each loan after paying savers, fell to 4.31% from 4.53%, because it took in costly dollar deposits. [23]

   Why it matters — The dollar deposits came through a Reserve Bank of India scheme to support the rupee, and they cost Kotak more than ordinary deposits. [23] Its outgoing chief executive expects margins to stay near this level for the next two quarters. [23]

6. 07

   IDFC First's profit nearly quadruples

   IDFC First Bank, an Indian lender, made a profit of 1,045 crore rupees in July to September, up 296.5% on a year earlier. [26] A crore is ten million. Its income from interest, after paying savers, rose 21%. [25] Its loans grew 30.1%, and its bad loans fell to 1.32% of the total, from 1.51%. [26] AU Small Finance Bank, another Indian lender, raised its profit 53% to 858 crore rupees. [27]

   Why it matters — Both banks earned a smaller share on each loan than three months earlier, and both banks' shares fell. [26][27] Lending more is lifting their profits even as each loan earns them a little less. [25]

7. 08

   Godrej Properties' profit falls 62%

   Godrej Properties, an Indian housebuilder, made a profit of 154 crore rupees in July to September, down 62% from 405 crore a year earlier. [28] Its income rose to 2,572 crore, but its costs nearly doubled to 2,477 crore. [28] Pre-sales, flats sold before they are built, fell 6% to 8,008 crore. [28] Its shares fell 4.2% on Friday and are down 26.7% in three months. [28]

   Why it matters — Higher costs drove the fall in profit, Mint reports. [28] An adviser told Mint that building costs and timelines are what to watch as its projects near completion. [28]

8. 09

   Jio lists on Wednesday

   Jio Platforms, the phone and internet company backed by Mukesh Ambani's Reliance Industries, starts trading on India's stock exchanges on Wednesday. [11] Its $3.2 billion share sale is India's largest ever. [11] Shares will be handed to buyers on Monday. [29] A share sold at 1,119 rupees already changes hands for about 22% more in unofficial trading before the listing. [29] At the sale price Jio is worth about 10.3 lakh crore rupees, a lakh crore being a trillion. [30]

   Why it matters — A first-day jump would reward the buyers who got shares in the sale. [29] The unofficial premium is no promise: over 22 trading days it has moved between 148 and 273 rupees a share. [29]

9. 10

   Pakistan's central bank weighs a rise

   The State Bank of Pakistan meets on Monday with its rate at 11.5%. [14] Prices rose 10.2% in July to September, from 4.3% a year earlier, as oil imports cost more. [14] A senior banker told Dawn that a rise of a full percentage point is needed. [14] Business groups in Karachi, Pakistan's biggest city, want the rate cut to single digits instead. [14]

   Why it matters — Bankers say a bigger rise is needed to bring prices under control. [14] A Karachi business leader says the cost of a rise always falls on traders and factory owners. [14]

10. 11

    Pakistan's trade gap with the Gulf shrinks

    Pakistan's trade gap with seven Gulf countries fell 26.35% to $2.85 billion in July to September, from $3.87 billion a year earlier, central bank data show. [45] Imports from the region fell 20%, while exports rose 11%. [45] Imports from Kuwait fell 97% and from Qatar 73%. [45] The UAE and Saudi Arabia supply 90% of Pakistan's energy imports from the region. [45]

    Why it matters — Dawn says the war has disrupted Pakistan's trade since March. [45] The gap shrank mostly because Pakistan bought less from the Gulf, not because it sold much more there. [45]

11. 12

    Pakistan signs a dam contract with Power China

    Pakistan's Water and Power Development Authority signed a 133 billion rupee contract on Saturday with a joint venture led by Power China, a Chinese builder. [46] It covers the gates and steel parts of the Diamer-Bhasha dam on the Indus river. [46] The dam is being built across the Indus 40km downstream of Chilas, in northern Pakistan. [46] When finished, it will store 8.1 million acre-feet of water. [46]

    Why it matters — Pakistan's government calls the dam a priority for its supply of water, food and energy. [46]

12. 13

    Indonesia cuts gas to Singapore

    Indonesia cut its pipeline gas exports to Singapore by about 9% from Saturday, its gas regulator SKK Migas said. [47] The gas goes instead to power stations in Batam, Bintan and Sumatra. [47] Batam and other cities had a 16-hour blackout this month. [47] Singapore, which makes up to 95% of its electricity from gas, says the cut is under 2% of its daily use. [47]

    Why it matters — Singapore's importers will use their contracts to claim for the lost gas, and its state gas buyer is ready to bring in more by ship. [47] Indonesia's energy minister says his country's own needs come first. [47]

13. 14

    US names helium a critical material

    The US Energy Department named helium a critical material on Friday. [35] Helium is needed to make computer chips, and is mostly a by-product of natural gas. [35] Qatar's helium exports have been cut by Iran's closing of the Strait of Hormuz, and Russia has limited its own exports. [35] The label makes more government financing available to helium producers. [35]

    Why it matters — Qatar and Russia, the other top producers, are both selling less abroad. [35] The US, the biggest producer, wants its own industries supplied from home, Energy Secretary Chris Wright said. [35]

14. 15

    SpaceX talks hit US phone shares

    SpaceX, Elon Musk's rocket company, is in talks to use at least 80,000 mobile phone masts to build a fourth US phone network, Bloomberg reported. [34] On Friday AT&T's shares fell 5.6%, T-Mobile's 5% and Verizon's 1.6%. [34] Crown Castle, which owns masts SpaceX is talking to, rose 11.6%. [34] SpaceX already sells internet from its Starlink satellites in rural areas. [34]

    Why it matters — Investors fear that a fourth network would mean more competition for AT&T, Verizon and T-Mobile. [34] Bernstein, a research firm, says the effect may still be years away. [34]

15. 16

    Russia and Kazakhstan sell gold

    Russia's central bank sold about 6.2 tonnes of gold in September, and 62 tonnes since January. [36] A Polish gold dealer told Euronews that Russia sells in Hong Kong and China's central bank buys. [36] Kazakhstan plans to cut gold to 75% of its reserves from about 78% by the year's end. [36] Gold fell below $4,000 an ounce last week for the first time since July. [37]

    Why it matters — Russia needs money for the war in Ukraine, the dealer said. [36] Poland's central bank, close to its goal of 700 tonnes, has kept buying for years. [36]

16. 17

    UK banks' tax figures questioned

    UK Finance, the lobby group for banks such as Lloyds, JP Morgan and Revolut, says London taxes a big bank at 46.2%, more than Amsterdam, Frankfurt, Dublin or New York. [49] It sent the figures to John Healey, the UK chancellor, before next week's Budget. [49] The Guardian's own sums, checked by an accounting firm, put Paris at 51.6% to 57.3%. [49] UK Finance left Paris out, saying it could not compare it fairly. [49]

    Why it matters — Banks are lobbying against a higher tax on their profits in the Budget. [49] The TUC, Britain's union federation, says raising the extra tax on banks from 3% to 8% would bring in 2.25 billion pounds a year. [49]

17. 18

    Nationwide cuts 275 more jobs

    Nationwide, a British lender owned by its members, is cutting 275 more jobs. [38] It says it is removing work done twice since it bought Virgin Money, a high-street bank, for 2.9 billion pounds. [38] The cuts follow 600 announced in June. [38] Staff who serve customers are not affected, and it has pledged to keep its 700 branches open until at least 2030. [38]

    Why it matters — The cuts fall on teams in mortgages, HR, customer operations and finance. [38] Nationwide took on more than 7,000 Virgin Money staff and now employs about 27,000. [38]

18. 19

    Most UK 'levelling up' projects unfinished

    Of 1,347 'levelling up' projects, meant to revive poorer British towns, 821 were still unfinished in May, Guardian analysis of official data shows. [50] In 73 council areas not one project is fully complete. [50] The funds were launched between 2018 and 2021 under Conservative governments. [50] Rising prices forced many councils to scale back or pause work. [50]

    Why it matters — The deadline for the main funds has moved to March 2028. [50] Labour's government now gives places 2 million pounds a year for 10 years instead of making councils bid for grants. [50]

19. 20

    Young planes are scrapped for parts

    Owners are taking apart Airbus and Boeing planes only a few years old, because their engines and parts are worth more than the plane. [39] Twenty-one of the newest planes were scrapped between June 2025 and August, at 6.4 years old on average. [39] Narrow planes usually retire at 21.7 years. [39] Renting one engine for the Airbus A320neo now costs up to $180,000 a month. [39]

    Why it matters — A shortage of engines, made worse by a Pratt & Whitney recall, keeps airline costs high. [39]

20. 21

    Quebec's maple syrup reserve runs low

    The strategic reserve of maple syrup in Quebec, Canada's main syrup region, will be empty by February, the producers who run it predict. [40] Canada makes more than 75% of the world's syrup. [40] Exports jumped nearly 16% last year as US buyers bought ahead of tariffs, while output fell 5%. [40] The reserve is three warehouses holding about 218,000 barrels. [40]

    Why it matters — Without the reserve, a poor harvest next spring could not be made up from stock. [40] The producers say supply is secure for the coming year. [40]

21. 22

    Goldman tells clients to sell Ola Electric

    Goldman Sachs, a US investment bank, cut its view of Ola Electric, an Indian maker of electric scooters, to 'sell'. [41] It lowered its price target to 23 rupees from 39.28, about 23% below Friday's 29.93. [41] Goldman says high interest costs and heavy spending make it hard for Ola to bring in more cash than it spends. [41] It cut sales forecasts for the next three years by up to 10%. [41]

    Why it matters — Goldman expects losses to last, so Ola will need more money from lenders or shareholders. [41]

22. 23

    KEC wins its biggest power line order

    KEC International, an Indian builder of power lines, won orders worth 2,872 crore rupees from Power Grid Corporation of India, the state grid company. [42] It is the largest order its Indian power business has ever had. [42] The lines will carry 8.5 gigawatts of renewable power from Gujarat. [42] Its orders this year now pass 13,500 crore. [42]

    Why it matters — India's demand for electricity is rising. [42] New renewable power plants in Gujarat need lines like these to send their power to users. [42]

23. 24

    Two Indian share sales open

    EAAA India Alternatives, an investment firm backed by Edelweiss, opens a share sale of about 1,200 crore rupees on Monday. [43] It invests in roads and offices whose tolls and rents pay its investors. [43] MK Sons Fine Jewels, which has five shops in Mumbai and Ahmedabad, opens a 275 crore sale on Wednesday. [44] It will spend part of the money on new showrooms and paying debt. [44]

    Why it matters — Both sales come in the same week as Jio's listing. [11] Nikkei Asia says India's market for new shares has picked up after a slow first half of the year. [11]

24. 25

    Berkshire shares hit a record

    Berkshire Hathaway, the company Warren Buffett built, saw its shares close at a record on Thursday. [31] Its class A shares ended at $820,500. [31] They had lost as much as 14.3% after Buffett said in May 2025 that he would step down as chief executive. [31] Greg Abel now runs it. [31]

    Why it matters — Investors had feared a 'Buffett premium' would vanish when he left, and the share price says it has not. [31]

25. 26

    Most US voters oppose a data centre nearby

    In a CNBC survey, 63% of US voters said they oppose an AI data centre within 10 miles of their home, and 13% support one. [48] Even among Trump's MAGA supporters, only 29% would back one. [48] Communities fighting data centres point to higher power bills, water use and noise. [48] The survey asked 1,000 voters between 14 and 18 October. [48]

    Why it matters — The backlash is pushing Republicans who backed data centres to talk about power bills and tougher rules before the vote. [48]

26. 27

    Iran says it holds Hormuz

    Iran's Revolutionary Guards, its most powerful armed force, said on Saturday that they keep full control of the Strait of Hormuz, the narrow sea route for Gulf oil. [32] The US Treasury Secretary, Scott Bessent, said on Friday that Gulf oil exports are above their level before the war. [32] Asked about an attack on Iran, Trump said on Saturday 'maybe tomorrow'. [33] Iran rejected a reported offer to reopen the strait if the US lifts its sea blockade. [33]

    Why it matters — The two governments give opposite pictures of how much Gulf oil is getting out. [32] Oil markets reopen on Monday with both claims standing.