Economy
Christine Lagarde to step down as ECB president on Feb. 7, 2027
ECB President Christine Lagarde will step down Feb. 7, 2027, triggering the EU process to appoint her successor amid wider ECB leadership turnover.
Finance
Markets, economy, and industry.
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Industry
FCA secures court undertakings forcing HTX (formerly Huobi) out of U.K.
The FCA won High Court undertakings barring HTX (formerly Huobi) from promoting services to U.K. customers; new sign-ups and deposits are blocked.
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Financial Markets
Caterpillar Q3 Sales Jump 17% as Profit, Backlog and Cash Returns Strengthen
Caterpillar reported Q3 sales up 17% to $20.7B, higher profit, record backlog and about $2B returned to shareholders as demand remained strong.
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Industry
Samsung Posts Record KRW 107.4 Trillion Quarterly Operating Profit on AI Chip Surge
Samsung's semiconductor arm drove a record KRW 107.4 trillion quarterly operating profit as AI-related memory and foundry demand surged.
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Industry
EQT to Buy Range Resources in All-Stock Deal, Creating Major Appalachian Gas Producer
EQT will acquire Range Resources in an all-stock merger announced Oct. 26, creating one of the U.S.'s largest Appalachian gas producers.
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Economy
Fed Holds Rates at 3.75%–4.00%; Two Officials Push for Another Hike
Fed holds benchmark rate at 3.75%–4.00% on Oct. 28; two FOMC members dissented, urging a quarter-point increase as inflation remains elevated.
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Economy
Bank of Canada to Host Gita Gopinath as Ottawa Drafts Rules for Fiat-Backed Stablecoins
Harvard economist Gita Gopinath will lecture in Ottawa as Canada publishes draft rules that would make the Bank of Canada supervisor for fiat-backed stablecoins.
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Industry
Japan’s FSA highlights Basel Committee guidance on AML data collection and AI transaction monitoring
Japan’s FSA flags Basel Committee newsletter urging structured AML risk data across jurisdictions and closer oversight of AI in transaction monitoring.
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Industry
U.S. Steel Board Approves Nearly $3 Billion Hot‑Strip Mill at Braddock's Edgar Thomson Plant
U.S. Steel’s board approved full funding for a nearly $3 billion hot‑strip mill at Edgar Thomson in Braddock, Pa., with initial production targeted in late 2029.
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Industry
Boeing narrows Q3 loss, posts positive cash flow and record $745B backlog as 737 certifications arrive
Boeing narrowed its Q3 loss to $116M on $24.2B revenue, posted positive operating cash flow and a record $745B backlog as 737 certifications and a Navy fighter award signaled progress.
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Financial Markets
Historic Selloff Hits Brazil's Markets After Lula Re-election
Brazil's Ibovespa plunged 13.88% after Lula's re-election; B3 halted trading, the real tumbled and authorities intervened to steady markets.
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Economy
CBO: U.S. Federal Net Saving Projected at -$1.8 Trillion in 2026, Worsening to -$3.0 Trillion by 2036
CBO converts its Feb. 2026 budget baseline into national accounts, finding U.S. federal net saving at -$1.8T in 2026 and -$3.0T by 2036.
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Industry
FCA: UK defence SMEs hit by slow bank onboarding, not blanket account closures
FCA review finds small defence suppliers face long onboarding, repeated information requests and slow decisions — not widespread account closures.
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Financial Markets
SEC’s Fiscal 2027 Exam Priorities Spotlight ‘Super Intelligence,’ Tokenization and Treasury Reforms
The SEC’s fiscal 2027 exam roadmap flags advisers’ duties and broker-dealer controls — and adds scrutiny on “super intelligence,” tokenization and Treasury clearing reforms.
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Financial Markets
FCA warns private-market firms over patchy conflict controls after Oct. 23 review
The FCA warns private-market firms show uneven conflict-of-interest controls as the sector grows, urging stronger governance after a multi-firm review.
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Financial Markets
Basel Committee Tightens G‑SIB Measurements to Curb 'Window Dressing', Raises Disclosure Cutoff
Basel finalizes anti‑‘window dressing’ changes to G‑SIB scoring, raises disclosure threshold to €350bn and phases in higher‑frequency reporting through 2030.
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Economy
Bank of Japan Says Banking System Resilient but Flags Rising Asset Prices and AI-Linked Risks
BOJ’s Oct. 2026 Financial System Report finds banks can withstand severe shocks but urges careful monitoring of stocks, Tokyo real estate and AI risks.
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Industry
Pentagon, Lockheed Agree on 10-Year F-35 Production and Sustainment Framework
Pentagon and Lockheed Martin outline a 10-year F-35 production and sustainment plan committing to at least 850 U.S. jets; purchases still need congressional approval.
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Industry
Google expands PJM virtual power plant with Voltus to 1 GW, up from 100 MW
Google expands its virtual power plant with Voltus to 1 GW across the PJM grid, up from a 100 MW deal, using distributed resources to add capacity.
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Industry
OCC Finds Policies at Nine Biggest Banks Could Lead to Debanking, Proposes Supervisory Changes
OCC review says nine top national banks had policies from 2020–Sept. 30, 2025 that could prompt denials for political, religious or lawful business reasons.