Europe stocks close October with biggest monthly loss for a year; UK housebuilders plunge after budget
European markets were lower on Thursday as investors weighed the latest euro zone inflation data.
These stocks are likely to gain from the UK’s major budget announcement, analysts say
Investment banks suggested that stocks that had dipped ahead of the budget are likely to now gain on better-than-expected outcomes.
Dodge maker Stellantis posts 27% drop in revenues, flags progress in slashing U.S. inventories
Auto giant Stellantis on Thursday reported a 27% decline in third-quarter revenues, but said it was making headway in addressing operational issues like U.S. inventories.
Sovereign debt is the biggest risk to global growth in 2025, Saudi finance minister says
Global public debt hit a record $97 trillion in 2023, prompting the UN to call for urgent reforms for governments and financial systems around the world.
Top Chinese airlines’ profits fall as flagging economy pressures fares
China’s top state-owned airlines saw profit declines in Q3 despite record summer passenger numbers as the economic slowdown pushes flyers to seek cheaper fares.
Oil giant Shell posts $6 billion profit beat, launches new share buyback program
British oil giant Shell on Thursday posted a small year-on-year drop in third-quarter profit as a sharp drop in crude prices was offset by higher gas sales.
Brewer AB InBev softens third-quarter miss with share buyback, guidance raise
The world’s largest beer maker however also raised its full-year guidance and announced a $2 billion share buyback over the next 12 months.
Jack Dorsey’s payments company Block expands corporate card service to the UK
Block, the payments company owned by tech billionaire Jack Dorsey, has launched its corporate card service in the U.K.
Chinese EV maker BYD’s quarterly sales overtook Tesla’s for the first time
The milestone comes amid tough competition in China, the world’s largest auto market, as well as higher tariffs on imports of Chinese EVs into the EU.
Switzerland is now flirting with deflation, causing a dilemma for its central bank
Switzerland could be at risk of slipping into deflationary territory next year as a stronger Swiss franc dogs policymakers’ efforts to get a handle on prices.
