Money - Frontal Report

Featured News

Meta fined $25bn for 'lies' over user data privacy

Oct 21, 2026

The fine is the largest to date against Facebook's owner, larger than an $18bn deal with California.

Tesla Profit Slumps as Elon Musk’s Car Company Considers Merging With SpaceX

Oct 21, 2026

Elon Musk Says SpaceX and Tesla Are Exploring a Merger

Oct 21, 2026

France Riots Expose the Rage Aimed at Dior, Hermès and Other Luxury Brands

Oct 21, 2026

U.S. to Tap Heating Oil Reserves Ahead of Midterm Elections

Oct 21, 2026

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Latest News

Oct 21, 2026

GM Aims to Bring ‘Eyes-Off’ Driving to AI-Powered Cars Within 2 Years

General Motors is seeking help from artificial intelligence to keep up with Chinese companies that introduce vehicles very quickly.

Oct 21, 2026

A warning to anyone with credit card debt...

Oct 21, 2026

Burnham proposes plan to cut standing charges from gas bills

Oct 21, 2026

Alaska’s Journalists Join Forces to Cover the Midterms

Oct 21, 2026

Civil servant admits he 'made mistakes' juggling five government jobs

Interesting Read

Goldman Sachs, JPMorgan and Morgan Stanley are dominating the AI stock boom. Here's their edge

Wall Street’s Big Three have generated $52 billion in equity trading revenue this year, capturing about 80% of the market on rising margin lending to hedge funds.

Oct 21, 2026

How The New York Times Reports on A.I. Images

A Times reporter and editors discuss the challenges of sifting through what’s real and what’s not in pursuit of the news.

Oct 21, 2026

Stocks making the biggest moves premarket: SpaceX, Super Micro Computer, Netflix, Dell and more

These are the stocks posting the largest moves premarket.

Oct 21, 2026

HK, mainland stocks lose ground

Hong Kong's Hang Seng Index fell 0.9 percent to close at 23,651 on Wednesday. The Hang Seng China Enterprises Index fell 1.08 percent to end at 7,943, and the Hang Seng Tech Index fell 1.26 percent to end at 3,994. Mainland stocks also closed lower. The benchmark Shanghai Composite Index was down 0.6 percent to 3,713 whereas the Shenzhen Component Index closed 0.82 percent lower at 11,704. Turnover of stocks covered by these two indices totalled about 1.44 trillion yuan, down from 1.46 trillion yuan on the previous trading day. Pork as well as culture and media stocks led the gains, while batteries, energy metals and education shares were among the biggest decliners. Elsewhere, Tokyo and Seoul were boosted as chipmakers and other key players in the AI buildout boom chalked up healthy gains, following a torrid few weeks fuelled by concerns about profitability and debt financing. The Nikkei finished about 1 percent higher while the Kospi gained more than 3 percent. (Xinhua/AFP) Edited by Edmond Fong

Oct 21, 2026

Apec discussions candid and substantive: FS

Financial Secretary Paul Chan on Wednesday said discussions during the two-day Apec Finance Ministers' Meeting were candid and substantive, covering macroeconomic policies, infrastructure financing and digital co-operation. Chan hailed the joint statement issued at the end of the meeting as a rare achievement, given the different positions and considerations of participating economies. He said the outcome would help promote cross-border financing and listings, as well as create opportunities for Hong Kong and mainland enterprises, along with city's professional services, to expand overseas. The financial secretary said members of the 21 participating Apec economies toured various parts of Hong Kong and came away with a very positive impression. He also said they found the meeting arrangements to be smooth and satisfactory. Chan said Hong Kong did a good job hosting the meeting, noting that organising such an event required considerable manpower and resources, with careful attention to making guests feel welcome. He said Hong Kong has a strong international reputation in hosting conferences and exhibitions, and that the presence of political leaders this time – as opposed to mostly business visitors in the past – would benefit future exchanges and co-operation. "The immediate benefits are visitor numbers and their spending, but the greater significance lies in how foreign business and political leaders view and understand Hong Kong," Chan told reporters at the end of the event. He said the meeting gave participants a better understanding of Hong Kong's unique position under "one country, two systems". Chan also said he highlighted Hong Kong's first five-year plan with the participants, and expressed confidence that after two days of exchanges, they had a positive and encouraging view of the city's development and economy. Edited by Edmond Fong

Oct 21, 2026

Rising inflation fuels rate-hike fears in UK

British inflation and borrowing rose more than expected last month, according to data that will add to calls for help for households in finance minister John Healey's first budget next week and the likelihood of a Bank of England interest rate hike. Consumer price inflation rose to 3.5 percent after a 3.1 percent increase in August, the Office for National Statistics (ONS) said on Wednesday. Economists polled by Reuters had forecast a rise of 3.4 percent in the 12 months to September as the surge in energy prices caused by the Iran war gathered steam. The Bank of England had predicted a smaller rise to 3 percent in forecasts it published in July. Last month's increase, which the ONS said was due to higher petrol and diesel costs, took inflation to its highest since October 2025. The September inflation rate is traditionally used by the government to set increases for welfare benefits. Separate figures showed the government borrowed more than forecast and public debt surpassed £3 trillion (US$4.01 trillion), fuelled by higher debt costs which are linked to inflation and underlining the constraints facing Healey. He is expected to offer some further support for households hit hardest by the jump in energy prices, but his options are limited by the government's fiscal rules. "Rising inflation and record levels of debt illustrate the double dilemma facing the chancellor – how to ease cost-of-living pressures for families while keeping a lid on government borrowing," Greg Thwaites, interim chief economist at the Resolution Foundation, said. Ruth Gregory, deputy chief economist at Capital Economics, said the higher-than-expected borrowing in recent months "reinforces our view that the chancellor will deliver a cautious budget on October 28 that has little net impact on the economy and leaves the toughest fiscal choices for next year". Britain relies heavily on imported natural gas and the Bank of England is watching to see how much the energy price shock feeds into the broader economy. Services price inflation jumped to 3.7 percent from 3.4 percent in August and was slightly higher than economists' forecasts of 3.6 percent. Excluding food, energy, alcohol and tobacco, inflation picked up to 2.8 percent from 2.6 percent and was also above expectations. "Inflation moving closer to 4 percent makes it harder to simply look through the shock," Adam Deasy, economist at PwC UK, said. "The higher and longer inflation stays elevated, the greater the risk that it starts to influence wage and price-setting behaviour and the riskier it becomes to continue to wait for definitive evidence of those 'second-round' effects." Figures released on Tuesday showed a pickup in wage growth, adding to the case for a first interest rate hike by the central bank in over three years. Governor Andrew Bailey and other policymakers say the likelihood of a rate hike grows the longer that energy prices stay high, although they say there has been a limited impact so far on inflation. But Megan Greene, who has favoured a hike in rates, said on Tuesday that the risks of a pickup in broader inflation from the energy price shock were greater than expected. Investors and many analysts expect the Bank of England to raise its benchmark Bank Rate to 4 percent on November 5. Separate data released by the ONS hinted at inflation pressures in the pipeline. Factory gate prices rose by 4.6 percent in the 12 months to September, the biggest increase since April 2023 and up from 3.8 percent in August. Manufacturers' input costs rose by 8.3 percent after an increase of 6.7 percent in August, above the Reuters poll forecast of a 7.2 percent rise. (Reuters) Edited by Edmond Fong

Oct 21, 2026

Apec meeting 'achieves results, consensus'

Minister of Finance Lan Fo'an said the Apec Finance Ministers' Meeting has achieved "practical" results. The 2026 Apec Finance Ministers' Joint Statement and a policy statement on enhancing regional cooperation on digital infrastructure financing were issued as the two-day event wrapped up in Hong Kong. Speaking at a press conference, Lan said Apec member economies have agreed to strengthen macroeconomic communication and coordination to cope with external risks and challenges. “Our members agreed that we should enhance the soundness of our macroeconomic policies, further strengthen macro policy communication and coordination, boost the resilience of fiscal and financial systems, better address uncertainties and destabilising factors weighing on economic growth, and safeguard regional economic and financial stability,” the finance minister said. “At the same time, we should fully unlock the potential of emerging technologies, such as AI, to raise productivity and cultivate new growth drivers and inject new impetus into Asia-Pacific economic growth.” Lan added that Apec members agreed to promote practical financial and economic cooperation to support long-term sustainable development in the region. He said members highlighted the importance of boosting household spending and domestic demand. The minister also said the meeting formulated two professional documents and summarised the work of a young financial talent programme. On promoting digital infrastructure financing, Apec economies have encouraged the public sector to create a favourable policy and supervisory environment, while supporting the private sector to provide funding and facilitate innovative financing, Lan said. He went on to say that they also discussed promoting Asia-Pacific economic growth in a changing world during a closed-door meeting, and listened to proposals on mobilising private capital to support digital infrastructure in a working luncheon. Edited by Edmond Fong

Oct 21, 2026

Hong Kong stocks open higher

Local and regional stocks rose on Wednesday following Wall Street's gains as early indications from the corporate earnings season pointed to strong profits for global companies and bolstered investor confidence. Hong Kong's Hang Seng Index rose 271 points, or 1.14 percent, to open at 24,139. The benchmark Shanghai Composite Index opened 0.14 percent higher at 3,740. The Shenzhen Component Index opened 0.32 percent higher at 11,838. Japan's Nikkei 225 climbed 1.3 percent. Stocks in the region have steadied since a wrenching selloff last week but have traded in a tight range since then. "Global equities were mixed, with solid earnings supporting US markets while ongoing concerns around the AI trade and elevated oil and borrowing costs weighed more heavily elsewhere," Westpac analysts wrote in a note. (Additional reporting by Reuters) Edited by Edmond Fong

Oct 21, 2026

US stocks rise as oil, yields ease

US stock indexes ended mostly higher as oil prices and US Treasury yields eased on Tuesday, while French stocks fell as worries about unrest in the country remained. Helping the blue-chip Dow, 3M shares shot up 5.8 percent after it said it was expanding its data-centre partnership with Amazon. Shares of the industrial conglomerate were also boosted by the company raising its full-year profit forecast. After the closing bell, shares of SpaceX rose after the company said its third-quarter revenue more than doubled, beating estimates as AI and Starlink grew. The stock fell 0.1 percent in the regular session. At the same time, Netflix fell in after-hours trading as it gave a disappointing quarterly forecast. The stock was down 1.7 percent in the regular session. Quarterly results from AI heavyweight Meta are scheduled for Wednesday. Investors are looking to corporate earnings for evidence that consumers and the broader economy remain resilient, but also that massive AI spending is paying off. "Investors really are waiting for the growth companies to report. Analysts have raised their estimates... It's going to be by how much do they jump over that elevator bar," said Bruce Zaro, managing director at Granite Wealth Management in Plymouth, Massachusetts. Reflecting some of this nervousness was a 32 percent drop in South Korean AI infrastructure company Elice Group, when the stock fell below its initial public offering price in its market debut. Investors are also still assessing the risk that higher interest rates pose to AI stocks. Longer-dated US Treasury yields dropped, with the yield on the benchmark US 10-year Treasury note down 1.5 basis points at 5.121 percent. Yields have risen recently amid worries about inflation. Expectations for a rate hike of at least 25 basis points from the Federal Reserve at its policy meeting next week stand at 17.2 percent, according to CME FedWatch, down from 22.1 percent a week ago. "This is a market relieved that rates have come down, relieved that there's less volatility in oil prices, even though they remain elevated," said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "Earnings season can distract this market. Earnings season can give this market reason to go higher," he said. The Dow Jones Industrial Average rose 529 points, or 1 percent, to 52,495, the S&P 500 rose 21 points, or 0.3 percent, to 7,712 and the Nasdaq Composite fell 6 points, or 0.02 percent, to 26,424. France's cities were calm overnight under curfews imposed after last weekend's unrest, while protest groups announced a new round of demonstrations next Saturday. French stocks fell 0.4 percent, while the pan-European STOXX 600 index was down 0.1 percent. European semiconductor companies including ASML and ASMI also were lower. France's government bond yields climbed further, with investors remaining cautious ahead of the plans for further protests. The unrest in France has underscored the difficulties the French government faces in reducing its large deficit. (Reuters) Edited by Cecil Wong

Oct 20, 2026

Oct 21, 2026

U.K. Approves Long-Stalled Jackdaw Gas Drilling Project in the North Sea

The project will lessen the country’s dependence on imported energy, though environmental advocates say it undercuts a pledge to reduce carbon emissions.

Oct 21, 2026

SpaceX Boosts the A.I. Rally

Tech stocks are up after the rocket and artificial intelligence company beat earnings estimates — and Elon Musk confirmed it is weighing a deal with Tesla.

Oct 21, 2026

Faisal Islam: Inflation and borrowing figures illustrate chancellor's Budget challenge

The economic figures released on Wednesday show the constraints for John Healey as he puts the finishing touches to his Budget.

Oct 21, 2026

Inflation and government borrowing highest for a year ahead of next week's Budget

Inflation accelerated to 3.5% from 3.1% in the year to September, according to the Office for National Statistics (ONS).

Featured News

Meta fined $25bn for 'lies' over user data privacy

Tesla Profit Slumps as Elon Musk’s Car Company Considers Merging With SpaceX

Elon Musk Says SpaceX and Tesla Are Exploring a Merger

France Riots Expose the Rage Aimed at Dior, Hermès and Other Luxury Brands

U.S. to Tap Heating Oil Reserves Ahead of Midterm Elections

Latest News

GM Aims to Bring ‘Eyes-Off’ Driving to AI-Powered Cars Within 2 Years

A warning to anyone with credit card debt...

Burnham proposes plan to cut standing charges from gas bills

Alaska’s Journalists Join Forces to Cover the Midterms

Civil servant admits he 'made mistakes' juggling five government jobs

Interesting Read

U.K. Approves Long-Stalled Jackdaw Gas Drilling Project in the North Sea

SpaceX Boosts the A.I. Rally

Faisal Islam: Inflation and borrowing figures illustrate chancellor's Budget challenge

Inflation and government borrowing highest for a year ahead of next week's Budget

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