NY Times Business
Inflation has made basic goods hard to afford and attitudes toward inequality have changed, studies from the Pew Research Center showed.
Bloomberg Markets
As the Indian government addresses weaknesses exposed by exam leaks, education minister Pralhad Joshi says that they will revamp the examination system using technology. He spoke on a host of topics, as the minister of multiple portfolios, with Bloomberg's Yvonne Man. (Source: Bloomberg)
Bloomberg Markets
Zambia said Chinese buyers of its copper exports will start paying for some of their metal purchases in renminbi from next year, part of a growing move among African nations to use the Chinese currency instead of the dollar.
NY Times Business
The cost of living adjustment, or COLA, for next year will be the largest since 2023. Retirees will see the extra money in their benefit checks starting in January.
Bloomberg Markets
Morocco’s phosphate giant OCP SA is looking to attract foreign investors for some of its businesses, as supply disruptions caused by the Iran war hit profits at the state-owned company.
Financial Times
Shares of conglomerate that owns AOL and Vimeo jump more than 50% on news of expanded investment by Nebraska asset manager
Bloomberg Markets
Anthropic is holding an investor day as it advances plans for a potential IPO at an approximately $2 trillion valuation, amid growing concerns about AI safety and threats. Momei Qiu of PSP Growth says market sentiment around AI is shifting quickly as new information emerges. Qiu expects discussions to center on the trade-offs between growth and capital expenditures, as well as Anthropic’s anticipated valuation. (Source: Bloomberg)
Washington Post Business
Seniors on Social Security will see higher benefits starting in January to offset inflation, which has been weighing on the economy all year.
MarketWatch
The increase is aimed at helping about 68 million beneficiaries keep pace with inflation
NY Times Business
Energy prices have surged since the start of war with Iran, lifting inflation in the United States.
Bloomberg Markets
Robert Sockin, chief US economist at PGIM, says the US economy needs two more rate hikes at a minimum and that “the broader direction is up” for interest rates even if the Federal Reserve does not move at this month’s meeting. (Source: Bloomberg)
Bloomberg Markets
Barclays senior US economist Pooja Sriram said higher interest rates are a blunt tool that tighten financial conditions and hit rate-sensitive sectors such as housing and autos first. While rising Treasury yields and the bond selloff have added restraint, she said it is unclear whether conditions are restrictive enough. With oil prices rising again, further pressure on housing and auto demand could create uneven economic damage without resolving inflation. Sriram said the Fed’s approach, reflect
NY Times Business
Bloomberg Markets
Julia Herrmann of New York Life Management tells Vonnie that the current macro and market backdrop remains favorable: economic growth is resilient, and although rates are rising, they have not yet climbed enough to threaten the growth outlook. Addressing concern that remarks from Broadcom and Intel CEOs could signal a tech selloff, she says investor focus has shifted. After years of watching for a lower limit on company investment, markets are increasingly concerned that spending—first among hyp
Bloomberg Markets
Uzbekistan’s Tourism Entertainment Group became the country’s first company to list in the US as businesses from Central Asia’s second-largest economy are becoming increasingly popular among overseas investors, allowing them to raise money on international markets.
NY Times Business
A new alliance seeks legislation to force the biggest entertainment and streaming companies to devote half of their content budgets to independent producers in the U.S.
Bloomberg Markets
The US consumer price index rose 0.6% in September from a month earlier, and 3.7% on an annual basis, according to the Bureau of Labor Statistics. The data shows gas prices rose by 9.1%. Bloomberg's Michael McKee has the initial reading. (Source: Bloomberg)
Financial Times
Arrest of computer engineer Abdulrahman Alfozan has shocked tech figures in Saudi Arabia, where he is deeply connected
Bloomberg Markets
The dollar strengthened to the highest level in over a year as hot US inflation reading pushed traders to add to bets that the Federal Reserve will raise interest rates.