Almost one US family in five is behind on a loan payment, the most since 2010, the US central bank's survey finds

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

   Trump strikes a diesel deal with Russia

   Trump said on Friday that Russia would release 300,000 tonnes of diesel. [9] The US Treasury lifted sanctions on Russian diesel until April, three weeks after Trump signed a law to punish buyers of Russian oil. [11][12] US diesel averaged about 6.28 dollars a gallon on Friday, against 3.68 dollars a year ago. [10] Argus, a fuel price tracker, blames 60% of the rise on shipping halted at the Strait of Hormuz by the Iran war, and 40% on the Russia-Ukraine war. [13] Experts told the AP the extra fuel is too small to move prices much. [10]

   Why it matters — Diesel moves food and parcels, so its price reaches almost every shop, and farm states such as Iowa and Kansas are close races in the 3 November elections. [10][14] The Trump administration did not say who pays for the Russian fuel or when it arrives. [15]

2. 03

   Brazil cuts fuel taxes before its run-off

   Brazil's government scrapped federal taxes on importing and selling petrol for 30 days from 9 October. [16] It also added a new subsidy of 1.40 reais (about 28 US cents) a litre for diesel importers, on top of 2.12 reais already paid. [16] The cuts come before the 25 October run-off between President Luiz Inacio Lula da Silva and Flavio Bolsonaro, who won about 2 million more votes in the first round. [16]

   Why it matters — Drivers pay less at the pump for now, and Brazil's government says the country's oil income will cover the lost tax. [16] The cut lasts 30 days, so it may end soon after the vote unless it is extended.

3. 04

   Nigeria sells petrol at a discount

   Nigeria's finance minister, Taiwo Oyedele, announced a 30-day discount on petrol sold by NNPC, the state oil company, with public transport first in line. [17] Petrol costs about 1,400 naira a litre, up from 830 before the Middle East war. [17] President Bola Tinubu ended a fuel subsidy in 2023 that cost 10 billion dollars in 2022, more than health and education together. [18] He is seeking re-election in January. [17]

   830 nairaPetrol before the war

   ↓→

   1,400 nairaPetrol now

   Why it matters — Oyedele says it is not a subsidy, only selling at cost, but he did not say how much NNPC will charge for a litre. [17] The Nigeria Democratic Congress, which is running Peter Obi for president, called it a subsidy brought back through the back door. [17]

4. 05

   Pakistan trims petrol, raises diesel

   Pakistan's government cut petrol by 0.66 rupees to 398.30 rupees a litre and raised diesel by 0.52 rupees to 396.24 rupees, for 10 to 12 October. [19] Prices are now set daily by Ogra, the oil regulator, after weekly changes since March. [19] Petrol peaked at 458.41 rupees on 3 April, up from 266 rupees in early March. [19] Pakistan's government still takes 114 rupees a litre on petrol in taxes and duties. [19]

   Why it matters — Petrol is mainly used in small cars, rickshaws and motorbikes, so its price lands on the middle and lower-middle classes. [19] More than a quarter of the pump price is tax, the part Pakistan's government can change whenever it chooses. [19]

5. 06

   Google Maps shows UK fuel prices

   Google Maps began showing live petrol and diesel prices across the UK on Thursday. [20] The data comes from the UK government's Fuel Finder service, which covers 99% of forecourts and has run since February. [20] Stations must update a price within half an hour of changing it. [21] Which?, a consumer group, found petrol 7.50 pounds cheaper per 50-litre tank at a Tesco than at a Shell service station near Cambridge. [21]

   Why it matters — UK diesel recently hit a record 2 pounds a litre. [20] The AA, a motoring group, says easy price checks should push stations to stop matching each other's high prices. [20]

6. 07

   NS&I raises its fixed savings rates

   NS&I, the UK government's savings bank, raised its fixed bonds to between 4.99% for one year and 5.17% for five years. [22] It is the fourth rise since June, after NS&I raised just 1 billion pounds of a 15 billion pound target in three months. [23] Only three fixed accounts paid 5% or more on 5 August; by 8 October there were 75. [23] Money in these bonds cannot be taken out before the term ends. [22]

   1 year4.99%

   2 years5.07%

   3 years5.1%

   5 years5.17%

   Why it matters — Savers with large sums gain most, since NS&I takes up to 1 million pounds and the UK Treasury backs all of it. [22] Banks pull such deals once they have enough money, so the rates may not last. [22]

7. 08

   Burnham promises limits on non-compete clauses

   Andy Burnham, the UK prime minister, said on Friday his government will pass a law to stop non-compete clauses blocking hiring. [24] These clauses bar workers from joining a rival or starting a firm for a time after leaving a job. [25] About 5 million British jobs carry them, usually for around six months. [24] Burnham said workers in ordinary jobs will also be free to move, with details due alongside the 28 October Budget. [24][25]

   Why it matters — Workers can be left unpaid while they wait out a clause, which is what Burnham called a trap. [25] The Recruitment and Employment Confederation, a body for hiring firms, warned against sweeping changes. [24]

8. 09

   NFL takes betting apps to the US Supreme Court

   The NFL filed a brief on Thursday asking the US Supreme Court to let states regulate prediction markets, apps where people bet money on outcomes, as gambling. [26][27] Federal markets rules let Kalshi take bets from 18-year-olds, while most state sportsbooks require 21. [26] The NFL says football drew 1.8 billion dollars of trading on the season's first Sunday, more than half the total. [27] NBA chief Adam Silver backed an age of 21 but wants one national rule. [28]

   Why it matters — A ruling for the states would put these bets under each state's gambling rules, such as a minimum age of 21. [26] Twenty states have already argued in court that the apps should answer to state rules. [26]

9. 10

   Blockchain.com asks to run betting markets

   Blockchain.com, a company that holds and trades crypto coins, applied to the CFTC, the US regulator for futures, for two licences. [29] They would let it run event contracts, which are bets on real-world outcomes, and crypto futures for US customers. [29] It already offers prediction markets abroad through a partnership with Polymarket. [29] Crypto.com and Gemini already run event markets of their own. [29]

   Why it matters — It would put betting on events in the same app its customers use to hold and trade crypto. [29] Whether states or the federal regulator set the rules is the question the NFL case before the US Supreme Court asks. [27]

10. 11

    Small investors borrow record sums for shares

    Money borrowed from brokers to buy shares, called margin debt, hit a record of about 1.5 trillion dollars in June, says FINRA, the US brokers' watchdog. [30] Robinhood's margin lending grew 127% in a year to 21.6 billion dollars. [30] If share prices fall, a broker can demand more cash or sell the shares. [30] One Houston investor, Hy Luu, refinanced his home to pay down his margin loan when Tesla shares fell in 2022. [30]

    Why it matters — Borrowed money makes both gains and losses bigger, and forced sales come when prices are already falling. [30] Fundstrat, a research firm, found that five of six times margin debt grew over 45% in a year since 1960, US shares later fell. [30]

11. 12

    Gen Z pays only the minimum on cards

    A September study by Freedom Debt Relief, a debt company, found 59% of Gen Z cardholders paid only the minimum, against 50% of all cardholders. [31] Only 20% of Gen Z knew their exact card interest rate, the lowest of any age group. [31] Bank of America has projected Gen Z's wealth could reach 74 trillion dollars by 2040, much of it inherited. [31] About 62 trillion dollars of coming inheritances is held by just 2% of households, Cerulli estimates. [31]

    Why it matters — Paying only the minimum keeps a card balance growing with interest. [31] A forecast of inherited wealth does nothing for a bill due this month, and the report says that wealth will be spread unevenly. [31]

12. 13

    Boots gets a new owner

    Boots, the UK chain of chemists and beauty shops, was bought this week for about 7 billion pounds. [32] The buyer is Wittington Investments, owned by the Weston family, who also control the owner of Primark. [32] Boots has about 1,800 shops. [32] Its Advantage loyalty card, launched in 1997, gives three points worth 1p each for every pound spent. [32]

    Why it matters — Retail experts told the BBC the owners should spend on smaller, older shops and will probably keep the loyalty card. [32] The owners have not said what they will change. [32] Shoppers interviewed called some everyday items, such as sanitary products, very expensive. [32]

13. 14

    Labour fears a thin Budget for voters

    Labour insiders told the Guardian that the 28 October Budget will be low-key, centred on cutting energy bills and help for small firms. [33] Inflation and higher borrowing costs from the Iran war are thought to have left a 12 billion pound gap in the public finances. [33] Officials are planning small 'everyday fixes', such as rules on car-parking apps and unbranded school uniforms. [33]

    Why it matters — One Labour MP said the party is finished if voters are not better off by the next election. [33] Big decisions on tax and spending are being pushed to next year, so households will wait to see their bills change.

14. 15

    Unions ask for a bigger tax on banks

    The TUC, which speaks for unions with 5.3 million members, says a 2023 cut to an extra tax on bank profits has cost the UK about 6 billion pounds in three years. [34] Jeremy Hunt, then chancellor, cut that surcharge from 8% to 3% when he raised the main company tax. [34] HSBC, NatWest, Barclays and Lloyds made 200 billion pounds of profit before tax in five years. [34]

    Why it matters — The TUC wants the money used to cut household bills in the Budget. [34] The 2023 cut followed warnings from banks that higher taxes would leave them behind rivals in New York. [34]

15. 16

    MPs push for social homes money now

    Abena Oppong-Asare, the Labour MP who chairs the Commons housing committee, asked the UK chancellor, John Healey, to spend more of a 39 billion pound social housing fund before the next election. [35] The first 10 billion pounds, given out in August, is meant to build 70,000 homes. [35] Housing associations, non-profit landlords, say 5.3 billion pounds more would let them build 41,000 extra homes, including 25,000 at social rent. [35]

    Why it matters — Most of the remaining 13 billion pounds is due after the election, so families on waiting lists would wait longer for those homes. [35]

16. 17

    Milburn plans a route into apprenticeships

    Alan Milburn, who leads a UK government review of youth jobs, will call for a national pre-apprenticeship course in England. [36] It would mix English, maths and work experience for young people not ready for a full apprenticeship. [36] Starts by under-19s have almost halved in a decade, and only one in five starts goes to a 16 to 18-year-old. [36] His full report has been delayed until at least November. [36]

    Why it matters — Almost a million young people in the UK are not in work, education or training. [36] Ministers are also looking at scrapping a disability benefit for under-25s and replacing it with help into work. [36]

17. 18

    USPS adds holiday shipping charges

    The US Postal Service has raised its shipping prices for the holiday season, from 4 October 2026 to 17 January 2027. [37] A five-pound Priority Mail parcel sent over a short distance costs 80 cents more, and a large flat-rate box 2.10 dollars more. [37] Heavy express parcels sent far carry a surcharge of 20.80 dollars. [37] The cheaper Ground Advantage service is also covered. [37]

    Why it matters — The extra charge lands on anyone posting gifts in the busiest weeks of the year. [37] It comes as high diesel costs already push up delivery fees. [10]

18. 19

    Disney dining prices outrun food inflation

    Disney raised ticket prices for some dates at its US parks this week, as it does most Octobers. [38] The cheapest one-day Disneyland ticket is still 104 dollars, unchanged since 2019. [38] A NerdWallet check of the same menu items found sit-down meals cost 18.7% more than in 2023. [38] US prices for eating out rose 12.2% over the same time. [38]

    Disney sit-down meals18.7%

    US eating out12.2%

    Why it matters — Holding the cheapest ticket still keeps the advertised price low, while the cost of a day rises through food. [38] A family's total bill depends on extras it sees only once inside.

19. 20

    Moving home costs slightly less in England

    The cost of moving home in England fell 2.3% in a year, according to Reallymoving, a comparison site, as house prices slipped. [39] It rose in Scotland and most in Northern Ireland, by 2,217 pounds, and fell by over 300 pounds in Wales. [39] Moving in London costs just over 32,000 pounds, much of it stamp duty, a tax paid when buying a home. [39]

    Why it matters — Stamp duty is set by the price of the home, so when prices fall the tax falls with them. [39] That explains most of the gap between London and the rest of the country.

20. 21

    US home loan rates ease a little

    The average rate on a 30-year fixed US mortgage fell to 7.37% on Friday, according to rates Zillow gave NerdWallet. [40] That was 0.10 points lower than Thursday but 0.06 points higher than a week earlier. [40] Bond markets calmed after Donald Trump said the US would not attack Iran before the midterm elections. [40] NerdWallet says bond yields fell because traders hoped a pause in fighting would bring oil prices down. [40]

    Why it matters — Mortgage rates follow the bond market, which moves on fears about inflation, so oil and the war now steer home loan costs too. [40]

21. 22

    Financial Ombudsman gets a permanent chair

    The FCA, the UK's financial regulator, appointed Liam Coleman chair of the Financial Ombudsman Service for three years from 10 October. [41] The Ombudsman decides complaints that customers bring against financial firms, and can make the firms put things right. [41] Coleman had been interim chair for the past year. [41]

    Why it matters — The FCA says it wants a complaints system that is fair and predictable for customers and firms. [41] Coleman also chairs London & Quadrant Housing Trust, and has worked at the FCA, Nationwide and the Royal Bank of Scotland. [41]

22. 23

    Big UK banks rehearse a cloud failure

    The UK's 38 largest banks and market firms rehearsed a worldwide failure of cloud computing services on 8 October. [42] The drill, called SIMEX26, is run every two years by a group chaired by the Bank of England and UK Finance, the banks' trade body. [42] The Bank of England now expects the firms to fix what the drill showed up. [42]

    Why it matters — The drill tested how banks would work together if cloud services, where many firms run their systems, failed worldwide at once. [42] It included a live meeting of the Bank of England's group for handling crises across the whole sector. [42]

23. 24

    Israel's economy grows, but food costs worry voters

    Israel's economy grew 3.2% in the first half of 2026, with unemployment at 2.8% and inflation at 1.5%, Al Jazeera reports. [43] Food prices rose 8% from early 2024 to mid-2026, says Lobby 99, a consumer group. [43] In a poll by the Israel Democracy Institute, 38% of Jewish Israelis and 46% of Palestinian citizens of Israel named the economy and living costs a top issue. [43] Israel votes on 27 October. [43]

    Why it matters — Much of the growth came from technology exports, which can lift national figures without lowering a shopping bill. [43] Joseph Zeira, an economist at the Hebrew University, said Israelis face lower real wages and incomes. [43]

24. 25

    Jersey weighs what rich newcomers pay

    About 260 business, finance and law leaders met in Jersey, a self-governing island near France, to discuss its high value residency scheme. [44] The scheme lets wealthy people who are still working settle on the island, and about 260 families have moved that way. [44] Mary O'Keeffe, who helps them relocate, said each pays a basic 250,000 pounds in tax, and 1% on income above a set level. [44] John Christensen, a former government economic adviser, called that piffling. [44]

    Why it matters — A tax adviser, Garry Bell, said raising their rate from 1% to 20% would drive most of them to places like Dubai or Monaco. [44] Christensen said he suspects the scheme pushes up house and shop prices for everyone else on the island. [44]

25. 26

    Inspectors to check private ADHD clinics

    The Care Quality Commission, England's health and care watchdog, said on Friday it will start inspecting private clinics that diagnose ADHD and autism. [45] Until now such clinics were not regulated. [45] Staff are leaving NHS services for these clinics, and one NHS trust now sees only the most urgent cases. [45]

    Why it matters — Long NHS waits push many families to pay privately for a diagnosis. [45] Inspection gives people paying those fees some check on what they are buying. [45]

26. 27

    Fury-Joshua tickets sell out in an hour

    All 80,000 tickets for the Tyson Fury and Anthony Joshua boxing match in Cardiff sold out in an hour on Friday. [46] Prices ran from 88.50 pounds to 13,128 pounds including fees, and more than 500,000 people queued online. [46] Ringside seats then appeared on resale sites for 73,645 pounds. [46] The fight is on 12 December and will be shown on Netflix. [46]

    88.50 poundsCheapest seat

    vsvs

    73,645 poundsRingside on resale

    Why it matters — More than six people queued for every seat. [46] Resold ringside seats were offered at over five times the top official ticket. [46] Most of those in the queue will watch on Netflix. [46]