Finance News · Monday, 2 November 2026

China's regulators meet banks to prop up shares after their worst month in more than a decade, as a state bank readies up to 200bn yuan for state funds to buy stocks

20 stories 38 sources

Signals on this beat

The bar and the word are our reading of how hard each one is pushing, and the arrow is where it is heading.

The oil price coming down High↓

Brent oil fell 3.3% to $109.66 on Monday as Iran and Qatar held talks. [5]
India's main share indexes rose more than 1% as oil eased. [16]
In the Philippines, dear fuel has pushed inflation back to 7.2%. [32]

Governments propping up markets Building↑

China's central bank lent 541bn yuan to banks overnight at 1.25%. [10]
The US Treasury may cut sales of its longest bonds to ease long rates. [29]
India raised its tax on diesel sold abroad, to keep more fuel at home. [18]

Interest rates still climbing High↑

Australia's central bank is expected to raise its rate to 4.85% on Tuesday. [25]
The Philippine central bank raised its rate to 5.5% on 22 October. [32]
Traders also await rate decisions in the UK, Norway and Sweden this week. [28]

Doubts about AI chip makers Building→

Kioxia, a Japanese memory-chip maker, fell as much as 17% on a flat forecast. [21]
South Korea's Kospi share index has fallen more than 16% in a month. [5]
Doubts about AI profits also weighed on Chinese shares in October. [1]

The stories

20 stories on this beat today.

Every story told the same way: what happened, who is involved, why it matters, how it works, the truth and the good news.

01
China's regulators meet banks to prop up shares after their worst month in more than a decade, as a state bank readies up to 200bn yuan for state funds to buy stocks

200bn yuan

more lending a state bank plans for two state funds to buy shares

more than the 180bn yuan two state firms got when they first joined [1]

8.5%

fall in China's CSI 300 share index in October

it fell for a record 12 weeks in a row [2]

49.3

China's official factory survey in October, under the 50 line

down from 50.1, the third shrink in four months [8]
What happened
- China's three money regulators were due to meet big banks and fund firms on Monday. [3]
- The aim is to halt a slump in Chinese share prices. [1]
- A big state-owned bank plans to lend up to 200bn yuan more to two state funds. [1]
- The two state funds would use that money to buy shares. [1]
- Chinese shares have just had their worst month in more than a decade. [1]
- On Monday the regulators were to discuss making that scheme work better. [3]
- The CSI 300 rose as much as 1.3% on Monday after the reports. [2]
- The Shanghai Composite, another main index, was up 1.2% at 3,640.93. [5]
- Funds that state-linked buyers favour took in record money in October. [2]
- China's official survey of factory managers fell to 49.3 in October, from 50.1. [8]
- A reading under 50 means more managers said things got worse than better. [8]
- It was the third shrink in four months, the statistics bureau's survey showed. [8]
- A private survey by RatingDog read 52.0, with output growing fastest since April. [9]
45 points50 points55 points
1. 1Official survey, October49.3 points
2. 2The 50 line50 points
3. 3RatingDog survey, October52 points
Above 50 means more factory managers saw things get better than worse. The two surveys ask different firms.
Who is involved

The three are China's central bank, its bank regulator and its stock-market regulator. [1]
The two state funds belong to what traders call China's 'National Team' of share buyers. [1]
The new loans would top the 180bn yuan two state firms got when they joined. [1]
- People's Bank of China China's central bank; it runs the cheap-loan scheme for share buying
- NFRA the bank regulator
- CSRC the stock-market regulator
- CSRC and NFRA China's stock-market regulator and its bank regulator; they met the banks with the central bank
- China Reform Holdings and China Chengtong state-owned investment firms; they got 180bn yuan when they first joined the share-buying scheme
How it unfolded

The CSI 300, China's benchmark share index, fell 8.5% in October. [2]
It fell for 12 weeks in a row, a record. [2]
Steps China took last month to steady shares did not stop the fall. [1]
A weak economy and doubts about profits from AI weighed on shares. [1]
In September 2024 China's central bank set up a cheap-loan scheme for share buying. [1]
Banks lend that cheap money to companies to buy back their own shares. [1]
Big owners of listed companies can borrow from it to buy more shares too. [1]
The scheme holds 300bn yuan, about $45.1bn, the South China Morning Post reports. [4]
1. Sep 2024 cheap-loan scheme set up
2. October shares fall 8.5%
3. Monday regulators meet the banks
4. Sep 2024 China's central bank sets up two tools to support shares [1]
5. October the CSI 300 falls 8.5%, a record 12 weeks of falls [2]
6. Sat 31 Oct the official factory survey drops to 49.3 [8]
7. Mon 2 Nov regulators meet the banks, and shares rise [3][2]
Why it matters

The new loans would pump fresh money into China's share market, Bloomberg reports. [1]
Economists asked China's government to do more for growth after the weak factory survey. [8]

How it works

The gap partly comes from which firms each survey asks, Investing.com notes. [9]
The official survey asks more big state firms; RatingDog asks more small private ones. [9]
The truth
- What is really going on China's government is lining up state banks and state funds to buy shares after a month of heavy selling, while its own factory survey shows the economy weakening. [1][8]
- Why it works on people A meeting about buying shares is news before a single share is bought, so the promise moves prices on its own.
- Shen Meng, of Beijing bank Chanson & Co, says it will help 'in the short term'. [1]
- He says signals like this cannot change the economy's path on their own. [1]
- Nobody has said how much of the 200bn yuan will buy shares straight away. [1]
- Who gains Chinese companies and big shareholders — They can borrow cheaply from banks to buy their own shares, through a central-bank loan scheme. [1]
- Nobody knows yet
  How much of the new 200bn yuan will actually buy shares, and when.
  
  The plan was reported by Chinese media, and Bloomberg says it is unclear how much will be spent straight away. [1]
- Nobody knows yet
  Which of China's two factory surveys gives the truer picture.
  
  The official one fell to 49.3 and the private one read 52.0, because they ask different kinds of firms. [8][9]
Good news
- Delhivery, an Indian parcel firm, made a profit in the July to September quarter, a year after making a loss.

02
Oil falls 3% on talk of peace with Iran
What happened
- Brent, the world's main oil price, fell 3.3% to $109.66 a barrel on Monday. [5]
- It had hit $118 on Friday, its highest in six months. [14]
- Iran's top diplomat said a plan could reopen the Strait of Hormuz within two days. [5]
- That holds only if the US meets several conditions, he said. [5]
- Iran and Qatar held talks for a third day in a row. [12]
Who is involved

US Secretary of State Marco Rubio said President Trump would prefer to end the war peacefully. [11]
- Marco Rubio US Secretary of State
How it unfolded

Oil tankers sail through the Strait of Hormuz, and attacks on them lift energy costs. [12]

Why it matters

Indian shares rose as cheaper oil eased worry about India's energy costs. [16]
The truth
- What is really going on Oil fell on talk of peace between the US and Iran, but neither side has dropped its first demands. [5][13]
- Neither the US nor Iran has dropped its first demands, Fortune reports. [13]
- Nobody knows yet
  Whether the talks in Qatar lead to a deal on the Strait of Hormuz.
  
  Iran says a plan could reopen it within two days only if the US meets several conditions, and no direct US talks are being held. [5]
What comes next

US papers report the US may strike again after Tuesday's midterm elections. [11]

03
Reliance makes a record profit on dear fuel
What happened
- Its profit for July to September rose 33.8% from a year earlier, to a record. [15]
- Earnings at its refining and chemicals arm rose 67.9%. [15]
- Its shares jumped about 6% on Monday. [14]
- Its shops did less well, earning slightly less on each sale. [17]
Who is involved

Reliance Industries, India's most valuable company, refines oil and also runs a phone network. [14]
- Reliance Industries oil to phones
How it unfolded

War pushed the gap between crude and fuel prices to 3 to 3.7 times last year's. [15]

Why it matters

Reliance's jump helped lift India's main share indexes on Monday. [16]
How it works
Why cheaper oil makes the countries that buy it richer

Economists who study trade compare what a country sells abroad with what it buys, so when oil gets cheaper, each sale abroad pays for more of it.

The twist

Dear oil makes a country that buys oil poorer overall, yet its refiners that sell fuel abroad can still earn a record.

The picture

$118Brent, Friday
about $110Brent, Monday
The price of a barrel fell by about $8 in one weekend of talks. Every country that buys oil pays that price on each barrel.
Step by step
1. A country buys oil from abroad
2. It pays with money earned by selling its own goods abroad
3. When oil gets cheaper, each sale abroad pays for more oil
4. Less money leaves the country for fuel
5. More is left to spend at home
The same force, elsewhere today

Where this chain is also running, in today's other stories.
- Indian shares rise more than 1%
  
  Oil fell from $118 to about $110, and investors said cheaper oil eased worry about India's energy costs.
- The Philippines' year stalls on fuel costs
  
  The country depends on imported fuel, so dear oil pushed inflation to 7.2% and the peso to record lows.
- Reliance makes a record profit on dear fuel
  
  Reliance buys crude and sells fuel, so the war's wider gap between crude and fuel prices lifted its profit 33.8%.
- India taxes diesel and jet-fuel exports more
  
  India's government takes part of what exporters gain from dear fuel and keeps more fuel at home.
Where you've seen this

Coffee-growing countries

when coffee prices jump, each sack sold abroad pays for more imports

Copper-mining countries

a high copper price lets them buy more from abroad with the same amount of metal

A family's budget

if rent rises faster than pay, each hour of work pays for less of the home

The catch

The gain reaches people only if cheaper oil reaches the pump, and a falling currency can eat it up.

And the whole of it

A driver in Manila pays more when oil is dear. A worker at an Indian refinery may have a better year at the same moment. Neither sets the oil price, and each sees only the side they pay or earn.
The truth
- Refining profits are at least twice their five-year average, so they may not last. [17]
- Who gains Reliance Industries — War pushed the gap between crude and fuel prices to over three times last year's, lifting its profit 33.8%. [15]
- Nobody knows yet
  How long Reliance's refining profits last.
  
  Refining margins are at least twice their five-year average, and world oil demand looks weak for 2026. [17]

04
Indian shares rise more than 1%
What happened
- India's Sensex share index rose 1.27% to 75,404.64 on Monday morning. [14]
- 15 of the 16 main sectors on the market gained. [14]
- Bank of Baroda, a state lender, rose 3.5% after a strong quarter. [14]
- Indian Oil's profit nearly tripled, helped by state payments for cooking-gas losses. [14]
How it unfolded

Even so, the Sensex closed Friday 13.6% below its high of last December. [19]

Why it matters

Cheaper oil eased worry about energy costs and their effect on India's economy. [16]

How it works

Oil fell from $118 to about $110, and investors said cheaper oil eased worry about India's energy costs.
The idea, in story 03: Why cheaper oil makes the countries that buy it richer →
The truth
- Analyst G Chokkalingam warns dear oil and poor rains still push prices up. [14]
- Who pays US taxpayers — Interest on the national debt topped $1 trillion in the year to September, more than defence spending. [30]
Good news
- Delhivery, a parcel firm, rose 7.2% after a profit, against a loss a year ago. [14]
05
India taxes diesel and jet-fuel exports more
What happened
- India's government raised its extra tax on diesel and jet fuel sold abroad on Saturday. [18]
- The tax on each litre of diesel exported rose from 8.5 to 11.5 rupees. [18]
- The tax on jet fuel exports rose to 11 rupees a litre, from 10.5. [18]
- The tax on petrol exports was cut to zero, from 2.5 rupees. [18]
- The new rates run for two weeks from 31 October. [18]
How it unfolded

India first taxed diesel and jet-fuel exports in March, after war began in West Asia. [18]
1. March tax on diesel and jet fuel exports
2. 31 Oct diesel and jet fuel up, petrol to zero
Why it matters

The tax aims to keep more fuel at home for Indian buyers. [18]

How it works

It is called a windfall tax because it targets gains from the sudden price jump. [18]

India's government takes part of what exporters gain from dear fuel and keeps more fuel at home.
The idea, in story 03: Why cheaper oil makes the countries that buy it richer →
The truth
- Refiners that export diesel, like BPCL and HPCL, will earn less per litre sold abroad. [18]
- Who pays Indian refiners that export diesel — A higher export tax means they earn less on each litre sold abroad. [18]
06
IDBI Bank staff strike over sale to Fairfax
What happened
- Staff at IDBI Bank, an Indian state-owned lender, called a two-day national strike on Sunday. [20]
- They oppose its sale to Fairfax Financial, a Canadian firm. [20]
- India's government calls it the country's biggest foreign investment in a financial firm. [20]
- Fairfax bid 81 rupees a share, against a fair value set at 75.99. [20]
- IDBI shares opened at about 79 rupees on Monday. [20]
Who is involved

Opposition leader Rahul Gandhi backs the staff: 'Public banks are not assets to be sold off.' [20]
Finance minister Nirmala Sitharaman says the state rescued IDBI with over 250bn rupees. [20]
- Nirmala Sitharaman India's finance minister
How it unfolded

Fairfax won a bid in October for over 60% of IDBI, for $5.5bn. [20]

Why it matters

India's government is selling stakes in firms as pressure on its budget deepens. [20]
The truth
- A news site reported officials pushed the value down; the ministry defends its process. [20]
- Who gains India's government — It takes 11.5 rupees on each litre of diesel exported, and gets 81 rupees a share for IDBI against a fair value of 75.99. [18][20]
- Who pays IDBI Bank staff — Their union wants the sale cancelled to protect employees' interests, and called a two-day strike. [20]
- Nobody knows yet
  Whether IDBI Bank was valued fairly before its sale to Fairfax.
  
  Businessworld reported officials pushed the value down; India's finance ministry says the bidding was double blind. [20]
07
Kioxia falls up to 17% on a flat forecast
What happened
- Shares in Kioxia, a Japanese maker of memory chips, fell as much as 17% on Monday. [21]
- It forecast roughly flat sales and profit for the coming quarter. [21]
- Its last quarter's results were broadly as expected. [21]
- Kioxia says some data-centre storage shipments slipped into the next quarter. [21]
- Japan's Nikkei index fell as much as 1%, then recovered after midday. [21]
How it unfolded

Kioxia's shares had risen more than 750% in the first half of the year. [21]
1. This quarter shipments planned
2. Next quarter some arrive instead
Why it matters

Investors in AI chip firms have become more demanding, Business Insider says. [21]
The truth
- Kioxia says its planned output for 2027 is already sold out. [21]
- Nobody knows yet
  Whether Kioxia's delayed shipments arrive next quarter.
  
  The company says some data-centre storage sales slipped into the following quarter, and gave no firm date. [21]
08
Korea's shares rise as Altman visits its chip makers
What happened
- South Korea's Kospi share index rose 2.3% to 5,859.83 on Monday. [5]
- It had been down nearly 2% early in the day. [22]
- SK Hynix, a memory-chip maker, jumped 4.2%. [5]
Who is involved

OpenAI boss Sam Altman met about 50 Samsung executives on Saturday. [23]
He also reportedly had lunch with SK Group's chairman, Chey Tae-won. [23]
- Sam Altman OpenAI's boss
- Samsung about 50 executives
- Chey Tae-won SK Group chairman
How it unfolded

The Kospi had fallen more than 16% over the past month. [5]

Why it matters

OpenAI already works with Samsung and SK on memory chips and AI data centres. [23]
The truth
- Foreign investors were still net sellers, of 344bn won of shares. [22]
09
Australia expected to raise rates to 4.85%
What happened
- Australia's central bank is expected to raise its rate for a fifth time this year. [24]
- Most economists expect a rise to 4.85%, the highest in 18 years. [24]
- 30 of 32 economists polled by Reuters expect that rise. [25]
- Home values in major cities fell 1.4% in October. [24]
- Westpac, one of Australia's big four banks, reported a small rise in yearly profit. [25]
Who is involved

Governor Michele Bullock said inflation was 'likely to remain elevated for some time'. [27]
- Westpac one of the big four banks
How it unfolded

Prices in Australia rose 4.3% in the year to September. [26]

Why it matters

Higher rates make home loans dearer while house prices are already falling. [24]
The truth
- Nobody knows yet whether this rise will be the last. [24]
- Who pays Home buyers and owners in Australia — A rise to 4.85% makes loans dearer while city home values fell 1.4% in October. [24]
- Nobody knows yet
  Whether Australia's expected rise on Tuesday is the last one.
  
  Bloomberg's Australia briefing calls it the big question, with home values already falling. [24]
What comes next

The decision is due at Tuesday's policy meeting. [25]
10
Currencies wait for the US vote
What happened
- Major currencies barely moved on Monday before Tuesday's US midterm elections. [28]
- The euro sat near a 17-month low, at $1.1159. [28]
- The yen eased to 157.78 per dollar. [28]
Who is involved
- Eric Robertsen Standard Chartered
How it unfolded

Fitch, a ratings firm, turned France's outlook negative after Friday's close. [28]
New Zealand's dollar slid 1.2% last week after its central bank surprised by holding rates. [28]

Why it matters

Standard Chartered's Eric Robertsen says a Democratic win could slow data-centre building plans in states. [28]
The truth
- AMINA Bank says October's hedge fund losses leave little room for an election surprise. [28]
What comes next

Traders also face US jobs data and rate decisions in the UK, Australia, Norway and Sweden. [28]
11
US Treasury may sell fewer long bonds
What happened
- The US Treasury will say on Wednesday how it plans to sell its debt. [29]
- Many bond dealers expect its biggest change of plans since early 2024. [29]
- Citigroup expects cuts to sales of 20- and 30-year bonds starting this month. [29]
- UBS, another bank, sees no change in actual sales until May. [29]
Who is involved
- Scott Bessent US Treasury Secretary
How it unfolded

Treasury Secretary Scott Bessent stepped up buybacks of long bonds after yields jumped. [29]
Yields on 30-year bonds were above 5.30% on Friday. [29]

Why it matters

Selling fewer long bonds means more short-term bills, which must be refinanced constantly. [29]

How it works

Bills last up to a year, so the US sells over $500bn of them weekly. [29]
The truth
- US interest costs topped $1 trillion in the year to September, more than defence. [30]
- Economist Robin Brooks argues the Fed and Treasury are quietly trying to hold long rates down. [30]
- Nobody knows yet
  What the US Treasury announces on Wednesday.
  
  Citigroup expects cuts to long-bond sales this month, while UBS sees no change in actual sales until May. [29]
12
China's central bank moves to a new main rate
What happened
- China's central bank made an overnight lending rate its main policy rate on Monday. [10]
- It lent 541bn yuan, about $81.3bn, to banks overnight at 1.25%. [10]
- Analysts say this cuts banks' borrowing costs by about 0.15 percentage points. [10]
- It was not a normal rate cut, analysts said. [10]
Who is involved
- Zhuhai Huafa a state-owned property developer
How it unfolded

Worries about Zhuhai Huafa, a state-owned property developer, have unsettled China's bond market. [10]

Why it matters

The change should push borrowing costs down across China's bond market, analysts said. [10]
The truth
- ANZ's Zhaopeng Xing called it a 'red packet', a gift of cash, for lenders. [10]
- He says it lifts banks' lending profit slightly but will barely help shares. [10]
- Who gains China's big banks — The new overnight rate cuts what they pay to borrow, adding about 0.05 points to what they earn on loans. [10]
13
China's biggest banks earn more
What happened
- ICBC, the world's biggest bank by assets, made 111.96bn yuan in the third quarter. [7]
- That was nearly 10% more than a year earlier. [7]
- Over nine months, ICBC's profit rose 6%. [38]
- Its share of loans gone bad held steady at 1.29%. [7]
- ICBC's shares rose 3.3% in Hong Kong on Monday. [7]
- China Construction Bank's quarterly profit rose 8.49%, and its shares rose as much as 2.5%. [6]
How it unfolded

Fears that banks earn too little on each loan had weighed on their shares. [7]

Why it matters

Regulators have asked these same big banks to help fund share buying. [6]
14
Citi cuts its lithium price forecasts
What happened
- Citigroup, a big US bank, cut its lithium price forecasts on Friday. [31]
- Its three-month target for lithium carbonate fell to $12,000 a ton, from $20,000. [31]
- Lithium's price in China has fallen more than 40% since the end of August. [31]
- Citi points to slower growth in battery demand and trade uncertainty. [31]
- CATL, a battery maker, got local approval for its shut lithium mine on Friday. [31]
- CATL's shares rose as much as 4.2% on Monday. [31]
Who is involved

Lithium goes into batteries for electric cars and big power stores. [31]
Why it matters

Buyers are likely to delay purchases and keep stocks lean, Citi says. [31]
The truth
- Goldman Sachs expects more lithium than buyers need for the next two years. [31]
15
The Philippines' year stalls on fuel costs
What happened
- The Philippines hoped to boom in 2026, its year chairing ASEAN, Southeast Asia's main regional group. [32]
- Instead it has been Southeast Asia's worst-hit country from high energy prices since February. [32]
- Inflation is back at its April peak of 7.2%. [32]
- The peso is at record lows against the dollar. [32]
- Its central bank raised its rate to 5.5% on 22 October. [32]
- One university forecast for this year's growth fell from above 5% to 3.7%. [32]
How it unfolded

Spending cuts after a flood-control scandal last year also slowed growth. [32]

Why it matters

Economist Ruben Carlo Asuncion says the shock exposed the country's dependence on imported fuel. [32]

How it works

The country depends on imported fuel, so dear oil pushed inflation to 7.2% and the peso to record lows.
The idea, in story 03: Why cheaper oil makes the countries that buy it richer →
The truth
- Who pays Households in the Philippines — Dear imported fuel has pushed inflation back to 7.2% and the peso to record lows. [32]
What comes next

The World Bank expects growth to rebound to 5.2% in 2027. [32]
16
US state tax votes could move city bonds
What happened
- US voters decide state tax measures on Tuesday that could move state and city bonds. [33]
- California votes on a one-time 5% tax on the wealth of billionaires. [33]
- Florida votes on raising a homeowners' property-tax break from $25,000 to $250,000 by 2028. [33]
- Washington voters can repeal a new 9.9% tax on incomes over $1 million. [33]
Who is involved

These 'muni' bonds pay interest that is free of US federal tax. [33]
How it unfolded

States and cities sold $473.8bn of these bonds by September, 7.8% more than last year. [33]

Why it matters

Higher state taxes make tax-free bonds worth more, says Nuveen's Dan Close. [33]
The truth
- Florida towns that lose property tax would have to find money elsewhere. [33]
- Who gains Holders of tax-free US state bonds — If state taxes rise on Tuesday, the tax break on their interest is worth more. [33]
17
Fitch lifts Georgia's outlook on record reserves
What happened
- Fitch Ratings turned its outlook on Georgia's credit rating to positive, from stable, on Friday. [34]
- It kept the country's rating at BB. [34]
- That is $2bn more than at the end of 2025. [34]
- Its payments gap with the rest of the world narrowed to 1.5% of its economy. [34]
- Fitch expects its economy to grow 7.5% this year. [34]
How it unfolded

Growth averaged above 8% a year from 2023 to 2025. [34]

Why it matters

Fitch says tighter policy and steady money flowing in built the reserves. [34]
Good news
- Georgia's reserves of foreign money hit a record $8.2bn in September. [34]
- Georgia's reserves of foreign money reached a record $8.2bn in September, $2bn more than at the end of 2025, and Fitch turned its outlook on the country to positive.
18
Credit Agricole beats forecasts, but its shares slip
What happened
- Credit Agricole, a big French bank, beat forecasts for July to September. [35]
- Its revenue rose 7.5% to a record 7.1bn euros. [35]
- Its net income was about 2bn euros. [35]
- Yet its shares fell 1.96%, close to their lowest in a year. [35]
- Home-loan demand in France softened as rates rose, the bank said. [35]
- Its car-finance business is also under pressure. [35]
Why it matters

Fitch turned France's outlook negative on Friday, which weighed on the euro. [28]
19
CaixaBank's profit jumps 22%
What happened
- CaixaBank, Spain's biggest retail bank, made 1.759bn euros from July to September. [36]
- That was 22% more than a year earlier. [36]
- It raised its target for profit on shareholders' money to about 19%, from above 18%. [36]
- It has more than 21 million customers. [36]
- It holds 28% of Spain's main-bank market. [36]
Why it matters

Spain's economy has held up, which helps its banks. [36]

How it works

The bank said it earned more on the gap between loan and deposit rates. [36]
20
Sun Pharma's profit falls 36% on one-off costs
What happened
- Sun Pharma, which leads India's medicine market, saw quarterly profit fall 36.36%. [37]
- Its sales still rose 11.9% from a year earlier. [37]
- One-off costs explain most of the fall. [37]
- Most was a payment to settle a US court case over generic drug prices. [37]
- The rest went on costs of its planned purchase of another drug maker, Organon. [37]
- Its shares still rose 0.87% on Friday. [37]
Why it matters

Its medicine sales in India rose 17.3%, a key driver of growth. [37]

How it works

Analysts at Choice strip out one-off costs to see the ongoing business. [37]

What comes next

The Organon deal should close by early 2027, the company says. [37]

China's regulators meet banks to prop up shares after their worst month in more than a decade, as a state bank readies up to 200bn yuan for state funds to buy stocks

20 stories on this beat today.

Why cheaper oil makes the countries that buy it richer