Trump strikes Asia rare earth supply deals

 

On an Asia tour, US President Donald Trump unveiled a spate of rare‑earth agreements with Japan, Malaysia, Thailand, Vietnam and Cambodia, seeking to diversify supplies away from China ahead of talks with Xi Jinping. The deals—some non‑binding and short on detail—follow an $8.5bn cooperation pact with Australia to expand processing...

U.S., China Edge Toward Limited Detente

 

With presidents Donald Trump and Xi Jinping set to meet Thursday in Busan, the United States and China signaled progress but not a grand bargain. Officials touted a preliminary consensus and a “very successful framework,” while a threatened 100% tariff was said to be effectively off the table. Talks touch...

HSBC Beats Profit View, Books Madoff Provision

 

Europe’s largest lender HSBC beat quarterly profit expectations, posting $7.3 billion in pre-tax profit for the three months to September versus a $5.98 billion consensus, even as profit fell nearly 14% year on year on higher costs. Revenue reached $17.8 billion. The bank booked $1.4 billion in legal provisions, including...

Trump Import Push Rattles Cattle; Aid Announced

 

On an Iowa farm, Burleen and Pete Wobeter watched their lone bright spot—cattle—dim after President Trump said he would quadruple beef imports from Argentina to lower prices, sending wholesale cattle prices tumbling. Soybean sales to China had already vanished, leaving bins full and budgets tight. Ranchers say they’re earning less...

Twin electric turbos power 2026 911 Turbo S

 

Porsche’s 2026 911 Turbo S deploys twin, motor-assisted turbos that spool almost instantly, channeling energy back to a 1.9 kWh battery and an electric motor in the PDK. The setup delivers 701 hp and 590 lb-ft to all four wheels, rocketing to 62 mph in 2.5 seconds with brutal launch...

Delays Surge as Air Traffic Staffing Thins

 

Flight delays climbed over the weekend amid an FAA staffing squeeze, and more disruptions are expected as air traffic controllers miss their first full paycheck Tuesday. Transportation Secretary Sean Duffy said controllers are “wearing thin” and acknowledged a spike in sick calls, with nearly two dozen staffing shortfalls Saturday across...

Amazon Plans Up to 30,000 Corporate Layoffs

 

Amazon plans a sweeping round of layoffs starting Tuesday that could cut up to 30,000 corporate jobs, Reuters reported. The reductions, expected across divisions, would trim about 10% of its 350,000 corporate workforce, with managers trained Monday before emails go out Tuesday morning. It would be the company’s largest cuts...

Paramount Skydance to Cut 1,000 Jobs Wednesday

 

Paramount Skydance will cut about 1,000 U.S. jobs Wednesday, Oct. 29, the first wave in a plan that could eliminate roughly 2,000 U.S. roles, with more layoffs expected internationally. The freshly merged company, led by chairman and CEO David Ellison, is pursuing cost reductions of up to $2 billion. President...

Lukoil to Exit Abroad after U.S. Sanctions

 

Russian energy giant Lukoil will sell its foreign assets after U.S. sanctions, saying restrictions forced it to exit international operations. A former executive said revenues and profits could fall about 30% as the firm offloads three refineries and roughly half of its 5,000 petrol stations worldwide. The U.S. also blacklisted...

Shutdown Day 27 Brings Nationwide Flight Delays

 

On Monday, Day 27 of the government shutdown, roughly 3,370 U.S. flights were delayed and 118 flights into or out of the country were canceled, FlightAware reported. The slowdowns followed weekend backups, with more than 8,700 Sunday delays as air traffic controller shortages deepen. Transportation Secretary Sean Duffy said controllers...