Money - Frontal Report

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Flouting Consumer Law, Insurers Refuse to Pay Medical Bills for Emergency Care

Nov 4, 2026

A law to end surprise medical bills has generated millions of high-dollar payouts for doctors. Health plans are now fighting back by frequently withholding money.

Drone Boat Maker Saildrone Wins Protest Over Navy Contract

Nov 4, 2026

No more rice grains in Kellogg's Rice Krispies due to changing weather

Nov 4, 2026

Canva announces major job cuts after 'our hardest year yet'

Nov 4, 2026

Graduates are managing AI - but are they learning much else?

Nov 4, 2026

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Latest News

Nov 4, 2026

Poundland supplier 'will lose millions' if retailer collapses

One of Poundland's suppliers will lose millions if it collapses, while other suppliers have said they would go under.

Nov 3, 2026

OpenAI and Anthropic Set Up ‘War Rooms’ to Fight Disinfo About Midterm Elections

Nov 3, 2026

UK and EU agree draft deal to scrap Brexit red tape over food exports

Nov 3, 2026

Saudi Aramco Profit Jumps Despite Damaging Attacks on Pipelines and Refineries

Nov 3, 2026

Flouting Consumer Law, Insurers Refuse to Pay Medical Bills for Emergency Care

Interesting Read

US stocks end mostly up as markets wait on midterms

Wall Street stocks finished mostly higher on Tuesday as oil prices continued to pull back, while markets awaited results from US midterm elections that could reshape US President Donald Trump's final two years in office. Crude prices, which fell sharply on Monday on revived talk of US-Iran peace prospects, fell modestly hours after Trump insisted that a deal with Tehran "could happen," with traders also citing unconfirmed Middle East media reports saying progress on Iran's nuclear programme and frozen funds had been made. The prospect of easing energy costs helped Wall Street steady after several sessions of losses, in particular on the tech-heavy Nasdaq, which enjoyed a positive session after three straight declines. "Stocks are recovering from yesterday's bearish afternoon reversal even as the odds of a blue sweep have risen throughout the past few hours," said a note from Jose Torres of Interactive Brokers. "The fact that equities are advancing in light of the Democrats being likely to win majority control across both chambers of Congress signals that a near-term bottom could be behind us, since an overall flip was the most feared outcome." Americans voted on Tuesday with Democrats hoping to seize control of Congress and impose the first significant checks on Trump's tumultuous second term in the White House. The election amounts to a nationwide judgement on his policies, with the mood turning sharply against Republicans amid anger over soaring living costs and the war against Iran. Earnings reports from titans including Amazon, Alphabet, Meta and Microsoft have shown they plan to keep pouring hundreds of billions of US dollars into data centres and chips even as investors grow impatient for returns. Monday saw Apple post forecast-topping sales and profits but it warned that increasing memory chip costs would hit its profit margins in the coming months. Shares in Apple shed 1.9 percent. But shares in AI chipmakers Nvidia and AMD both climbed, along with AI data centre operator CoreWeave. In Europe most stock indices ended little changed, with London's FTSE falling under the weight of its oil and gas firms like BP and Shell. "A sharp decline in crude oil prices – triggered by remarks from US President Donald Trump regarding potential adjustments to overseas financial support – put heavy pressure on index energy heavyweights," said Patrick Munnelly at Tickmill. The Nasdaq rose 0.8 percent, to 25,372, the S&P 500 rose 0.4 percent, to 7,569, while the Dow fell 0.4 percent, to 51,787. (AFP) Edited by Robert Kemp

Nov 3, 2026

The Soaring Cost of Diesel Is Bankrupting Small Trucking Companies

For small trucking firms operating with little margin for error, high fuel costs can make the difference between survival and bankruptcy.

Nov 3, 2026

Stock market after midterm elections: What S&P 500 history shows

Midterms historically precede a strong year for the S&P 500. What to know if Democrats win back Congress

Nov 3, 2026

Texas governor race tightens in prediction markets, but Abbott remains favored

Prediction markets still show the Republican incumbent favored to win a fourth term, but the odds have narrowed in recent weeks.

Nov 3, 2026

Stocks making the biggest moves premarket: Pfizer, Apple, Palantir, Zebra Technologies & more

These are the stocks posting the largest moves premarket.

Nov 3, 2026

HK recovery uneven despite high GDP: economist

A local economist said Hong Kong’s third-quarter GDP performance has lifted business sentiment, but the recovery remains uneven and will take time to broaden. Ho Lok-sang, adjunct professor with the Academy for Applied Policy Studies and Education Futures at the Education University of Hong Kong, made the assessment as advance estimates showed Hong Kong’s economy grew 5.2 percent year on year in the third quarter of 2026. The clearest sign of recovery, he said, was in prime office space. "Especially for the Grade A centrally located locations, [the] office take-up rate is pretty impressive," he said. "Now, certainly it’s recovering." But Ho stressed that the strength is not spreading beyond that segment. "On the outside of the Grade A and centrally located areas, office demand is still relatively weak, and the demand for commercial properties is still relatively weak," he said. He added that a broader recovery will not come quickly and will likely depend on lower rents. "I think that it will take quite some time to recover, and I think recovery will also necessitate a decline in rents," Ho said. Ho was more upbeat about the rest of the year's outlook. "Definitely the full year growth is going to be quite strong, and I am pretty confident that it will be over four percent or could be as much as 4.5 percent,” he said. The government's real GDP growth forecast for 2026 as a whole is 3.5 to 4.5 percent. Ho said the financial sector is performing "pretty well, extremely well", with IPOs still at a very high level and "no sign of it ebbing". He added that exports, too, are "doing quite well". But he flagged persistent weak spots: "Demand in terms of both construction demand and also the retail consumption demand and restaurant business are still lagging behind". To support these sectors, Ho pointed to major events and tourism. "Of course the major events – for example concerts and Halloween and so on – it’s entirely possible to boost tourism even more," he said. "Tourism is doing pretty well this year, and we hope that the tourists can stay a bit longer and consume a bit more." Ho said that outcome depends on the business sector and the government continuing to promote such major events. Meanwhile, Kenny Shui, vice president of Our Hong Kong Foundation, said the third-quarter figures pointed to strengthening momentum: goods exports rose 30.4 percent on AI and electronics demand, while services exports grew 4.3 percent on tourism and financial activity. But he said private consumption rose just 2.8 percent, slower than the previous quarter, showing that the strength in retail and investment has yet to fully reach households. "Growth momentum is broadening, but the recovery still needs to be felt more widely," Shui said. With first-nine-month growth at 5.1 percent, Shui expects a fourth-quarter growth of four to five percent and full-year growth of around five percent – above the government’s forecast, leaving room for an upward revision. He cautioned, however, that interest rates could weigh on business investment and household spending, and with unemployment at 3.9 percent, consumption still needs job and income support. In the fourth quarter, the key will be whether exports stay strong and consumption and employment improve, Shui added. Edited by Aaron Tam

Nov 3, 2026

Hong Kong economy grew 5.2pc in Q3 2026

Hong Kong’s economy grew 5.2 percent year on year in the third quarter of 2026, buoyed by stronger exports and domestic demand, according to advance estimates. The Census and Statistics Department said the increase compared with a 4.2 percent growth in the second quarter. On a seasonally adjusted basis, GDP rose 1.9 percent quarter on quarter. For the first nine months combined, the economy grew 5.1 percent – the fastest growth for the period in five years. Goods exports rose 30.4 percent in real terms, after 28.9 percent in the second quarter, while imports grew 29.9 percent. Exports of services increased 4.3 percent. Investment strengthened, with gross domestic fixed capital formation up 7.3 percent, while private consumption grew 2.8 percent and government consumption was up 1.7 percent. A government spokesman said the economy saw robust expansion, underpinned by accelerating exports and solid domestic demand. He said the outlook remained positive, citing global artificial intelligence investment, inbound tourism, cross-boundary traffic and financial market activity. But he advised caution over geopolitical tensions in the Middle East and tighter monetary policies by major central banks. Revised GDP figures and the updated forecast for 2026 will be released on November 13. Separately, retail sales rose 6.4 percent year on year in September to a provisional HK$33.4 billion – the 17th straight month of expansion. August’s revised increase was 5.6 percent, and sales for the first nine months were up 8.3 percent by value. Online sales rose 12 percent to HK$4.4 billion in September, or 13.1 percent of total retail sales, and were up 21.2 percent for the first nine months. Retail sales volume rose 3.9 percent in September. The spokesman said solid local consumption sentiment, more visitor arrivals and earlier Mid-Autumn festive sales supported retail growth. He said upcoming mega events, festive celebrations and inbound tourism should add momentum, though external headwinds warranted close monitoring. Edited by Aaron Tam

Nov 3, 2026

HK up as policy moves fail to lift mainland markets

The mainland's latest effort to steady its sliding stock market struggled for traction on Tuesday, with shares pinned near one-year lows and investors saying a familiar playbook of encouraging money into the market was falling short this time. In Hong Kong, the benchmark Hang Seng Index ended up 132 points, or 0.6 percent, at 23,525 on turnover of HK$236.4 billion. The tech index rose 28 points, or 0.7 percent, to 3,867 while the China enterprises index was 36 points, or 0.5 percent, higher at 7,943. Up north, the Shanghai Composite Index fell 29 points, or 0.82 percent, to close at 3,608, on turnover of 810.83 billion yuan. The Shenzhen Component Index dropped 133 points, or 1.21 percent, to 10,876 on turnover of 892.6 billion while the ChiNext Index plunged 67 points, or 2.73 percent, to 2,391 on turnover of 446.45 billion yuan. The blue-chip CSI300 is down 13 percent since January. The index notched its largest monthly fall for a decade in October, led by a slump in AI stocks, and closed 0.2 percent lower on Tuesday. On Monday regulators responded with measures aimed at funding stock purchases by brokers, funds and companies. Authorities have also instructed banks to hold off on new listings or large share sales in order to support the market, the Financial Times newspaper reported on Tuesday, citing insiders. Fund manager Chen Jiande said steps — including central bank swap operations to fund stock purchases and encouraging buybacks — repeated efforts in 2024 and offered a chance to sell, rather than buy. "These measures were below expectations," said Chen, general manager at Fujian Tianlang Asset Management. "Many investors in battered tech shares are taking advantage of any rebound to rush out." UBS economists led by Yu Song agreed that support could build, saying the latest steps marked a new phase of coordinated action across the three main regulators – a sign of commitment to stabilising markets. But they played down the prospect of a full-scale repeat, arguing economic growth remained within policymakers' comfort zone and the recent selloff did not reflect any fresh deterioration in fundamentals. In Seoul, the Kospi closed down 210 points, or 3.59 percent, at 5,648 amid chip-sector losses of 4.15 percent for Samsung Electronics and 5.03 percent for SK Hynix. (Reuters/Xinhua) Edited by Tony Sabine

Nov 3, 2026

HK eager to help build 'enterprises of tomorrow'

Hong Kong is ambitious about helping create the "enterprises of tomorrow", Financial Secretary Paul Chan said on Tuesday in amplifying the pivotal role the Northern Metropolis would play in realising this vision. That came as he told investors at the Global Financial Leaders' Investment Summit in Central about the dedication that investors can expect of Hong Kong to strengthening its contribution to innovation. “Our ambition is not only to finance businesses created elsewhere, but also to help create the enterprises of tomorrow,” Chan said. “The Northern Metropolis is central to this effort. "It will bring universities, research facilities and technology enterprises closer together, linking education, technology and talent more closely with industry.” The mega development project in the northern New Territories would, Chan said, serve as a base for closer ties with other Greater Bay Area cities, allowing Hong Kong to draw on their strengths in commercialisation, engineering and advanced manufacturing. Hong Kong was eager to pair promising businesses with capital and partners, as well as give investors trusted pathways into unfamiliar sectors and economies, he added. Hong Kong had, Chan pointed out, also taken steps to widen its connections with various economies and broaden asset classes in various regions. “In Southeast Asia, we are welcoming more enterprises from Indonesia, Thailand and Malaysia to lease in Hong Kong,” he said. “In the Middle East, Hong Kong and Saudi Arabia have listed ETFs, tracking each other's markets, giving investors new routes to invest.” “In Central Asia, Kazakhstan has already tapped Hong Kong's equity and bond markets. We welcome more issuers to raise capital here through listings and bond issuances.” Chan added that Hong Kong would also continue to expand the range of assets and financial services to give investors more options to diversify. This, he said, included a central focus on developing a commodity and gold trading ecosystem. Edited by Tony Sabine

Nov 3, 2026

Binance Was Hacked. What Protections Exist for Crypto Customers?

Nov 3, 2026

Featured News

Flouting Consumer Law, Insurers Refuse to Pay Medical Bills for Emergency Care

Drone Boat Maker Saildrone Wins Protest Over Navy Contract

No more rice grains in Kellogg's Rice Krispies due to changing weather

Canva announces major job cuts after 'our hardest year yet'

Graduates are managing AI - but are they learning much else?

Latest News

Poundland supplier 'will lose millions' if retailer collapses

OpenAI and Anthropic Set Up ‘War Rooms’ to Fight Disinfo About Midterm Elections

UK and EU agree draft deal to scrap Brexit red tape over food exports

Saudi Aramco Profit Jumps Despite Damaging Attacks on Pipelines and Refineries

Flouting Consumer Law, Insurers Refuse to Pay Medical Bills for Emergency Care

Interesting Read

Binance Was Hacked. What Protections Exist for Crypto Customers?

How Broadcast, Cable and Late-Night Shows Plan to Cover the Midterm Elections

Keeping mortgage interest relief approved

Binance says fake job interviews used as part of $6.3bn crypto hack

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Gaming Out the Prospect of a Blue Wave

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