The Latest Breaking News from United States

India joins US, 13 economies in joint statement to address global excess capacity after G20 meeting

India, along with the United States and 13 other economies, has signed a joint statement aiming to address structural excess capacity. The participating economies emphasized the importance of eliminating non-market policies that distort economic conditions. They acknowledged the growing challenges posed by excess capacity in manufacturing sectors, which hinders market-based…

The Economic Times · Oct 8

Gold edges higher after hitting a two-month low

Gold prices are on the rise, up by 0.4% after a dip earlier this week. Investors are closely monitoring the upcoming interest rate decisions from the US Federal Reserve, with an 18% probability of a hike this month and 80% in December. Heightened geopolitical tensions in Saudi Arabia and persistent…

The Economic Times · Oct 8

Dollar edges back from 18-month high after FOMC minutes

The dollar index has maintained its position as hawkish Fed minutes emphasize inflation as a major concern. Recent interest rate hikes by the Federal Reserve have been met with caution regarding future increases. Meanwhile, the US dollar's performance varied against other currencies, influenced by Japan's positive current account surplus report.

The Economic Times · Oct 8

US puts military in ready mode for possible new strikes on Iran: Report

Trump has instructed the Pentagon to prepare for possible military strikes against Iran, but no final decision has been made. The US military is focusing on possible targets in Iranian infrastructure and nuclear capabilities. Discussions about the situation are ongoing with Israeli officials, emphasizing the potential for renewed combat operations.…

The Economic Times · Oct 8

Amazon makes fresh job cuts, mainly in retail division

Amazon has confirmed recent job cuts affecting employees in its Stores unit during a major sales event. The layoffs are part of a series of reductions following a larger workforce decrease that started last year. A spokesperson indicated the adjustments aim to align better with the company’s priorities and efficiency.…

The Economic Times · Oct 8

Attacks on Saudi airports claimed by Houthi rebels kill 3 people

Two attacks on Saudi airports by Houthi rebels resulted in three fatalities and numerous injuries on Wednesday. The strikes targeted Abha and Riyadh's King Khalid airports, affecting Moroccan, Algerian, and Sudanese nationals. In response to threats against oil and military assets, Saudi Arabia has bolstered security measures around key locations.…

The Economic Times · Oct 8

Trump expected to award science medal to SpaceX's Elon Musk, other tech leaders

US President Donald Trump will present the National Medal of Science to Elon Musk and other innovators. The White House event will discuss the impact of private-sector investment in scientific breakthroughs and technology. Musk's relationship with Trump has improved following a previous dispute over government contracts. The awards ceremony is…

The Economic Times · Oct 8

Datacentre company Firmus’s high flying valuation may be coming back down to earth ahead of expected ASX debut

Sources say Firmus is slashing its price and may even shelve initial public offering altogether

The Guardian - AU · Oct 8

Tanker attacks in Hormuz hit highest of any week since start of US-Iran war

Attacks on tankers in the Strait of Hormuz reached unprecedented levels during the week of September 28 to October 5. There were at least 12 attacks on various tankers, which was the highest number recorded since the Iran war began. The US Navy-led Joint Maritime Information Center confirmed Iran's intent…

The Economic Times · Oct 8

Global Market Today: Asian stocks drop on inflation concerns, oil gains

MSCI’s Asia Pacific index for equities slipped 0.3%, with shares in Japan and South Korea falling, while markets in mainland China return from a holiday. Shares of Samsung Electronics Co. fluctuated between gains and losses after the chip bellwether reported record profit but still missed estimates.

The Economic Times · Oct 8