Latest Developments

Asia-Pacific
The Straits Times

Labubu loses its bite as Pop Mart’s quarterly sales plunge up to 50%

Pop Mart has described 2026 as “a year of adjustment”, as the Labubu fad dims and hits its bottom line. BEIJING – Pop Mart International Group reported a decline in third-quarter sales from a year earlier, hurt by fading Labubu momentum and a tough base of comparison following blockbuster results in 2025. Overall revenue fell as much as 50% from a year earlier in the three months ended September, according to Pop Mart’s latest business update based on preliminary data. That compares with revenue growth of about 250% in the year-ago period. Revenue in China declined 25% to 30%, while sales from the Americas fell 70% to 75%. The downturn underscores the volatility that can accompany an unexpected viral hit. Demand for Labubu – the snaggle-toothed monster plush – reached fever pitch in 2025 with everyone from K-pop idols to Hollywood celebrities and ordinary consumers seeking one. The results also highlight mounting pressure on the company as investors grapple with softening demand in 2026 in its home market alongside persistent weakness across overseas operations. While Pop Mart has described 2026 as “a year of adjustment”, investors are concerned that the slowdown could extend into 2027. HSBC Holdings cut its revenue forecasts for 2027 and 2028 by 8% and 9%, respectively, in a research note released ahead of the results, citing expectations for “a longer road to stabilisation”. The bank also lowered its 2026 sales estimate to 33.2 billion yuan (S$6.4 billion) from 34.6 billion yuan previously. In a bid to maximise brand exposure and keep consumer buzz alive, Pop Mart continued expanding its retail footprint through flagship locations in key domestic and international markets. The company opened a three-storey flagship store near West Lake in Hangzhou and launched its European flagship on Boulevard Haussmann in Paris in September.

Labubu loses its bite as Pop Mart’s quarterly sales plunge up to 50%
North America
CNBC Finance

The political ad wars are still being fought over the airwaves even as digital gains share

While advertising dollars increasingly shift toward streaming and digital platforms, the political ad war is still being fought over the free airwaves. Broadcast television companies are set to capture the greatest portion of political ad spend ahead of the midterm elections, according to advertising intelligence company AdImpact. The 2025-26 election cycle is forecast to be the most expensive on record, with a predicted $11.6 billion in total spending. That's higher than the $11.2 billion spent on advertising during the 2024 presidential election cycle and the $8.9 billion spent during the 2022 midterms. An estimated $5.6 billion of advertising spend ahead of the midterms, or 48%, is expected to go to broadcast companies, AdImpact found. "It's still a local game," said StoneX Equity Research Analyst Daniel Kurnos in an interview. "Yes, there are national elections, but you have to win counties. And if you have to win counties, you have to reach voters in these counties." Broadcast audiences — those tuning into NBC, ABC, CBS, Fox or their local affiliate stations — are generally more politically active, Kurnos said: "You cater to the demos that vote. You cater to the votes that matter." That makes political advertising one of the last bastions of broadcast's dominance. While broadcasters are expected to capture roughly half of political advertising spending this cycle, they account for just 7.7% of the more than $470 billion in general advertising spend forecast for this year in the United States, according to Magna data published by S&P Global in July. Terry Nelson, a founding partner of Plus Communications and the national political director for former President George W. Bush's 2004 reelection campaign, told CNBC that broadcast spots allow political strategists to reach large numbers of voters "as efficiently as we can from a cost perspective." Though cord-cutting has reshaped the TV landscape as customers drop cable, broadcast remains free and broadly accessible. Broadcast, which transmits local news, sports, classic game shows like "Wheel of Fortune" and national networks, captured more hours of television use than cable in July, according to Nielsen's most recent monthly streaming report, The Gauge. The category accounted for 19.5% of television use, while cable captured 18.7%. Streaming led television use by far, at 49%. Broadcast is still particularly good at delivering high viewership during live sports games, Nelson noted.

The political ad wars are still being fought over the airwaves even as digital gains share
Asia-Pacific
Channel NewsAsia

Indian media groups decry Modi’s privacy law in court, say newsrooms face shutdown risk

NEW DELHI: The Indian government's privacy law, which would require journalists to seek consent from people they write about, amounted to pre-censorship and could lead to newsrooms shutting down, media groups told the Supreme Court on Tuesday (Oct 27), starting the most high-profile challenge against the legislation. The lawsuit comes amid accusations of declining press freedom in India since Prime Minister Narendra Modi took office in 2014. Critics say many mainstream media outlets have not done enough to scrutinise Modi’s government, which has denied such allegations and says it respects press freedom. A group of 21 news publishers, including companies owned by billionaires Mukesh Ambani and Gautam Adani, has challenged the privacy law, arguing it would trample upon investigative work and allow New Delhi to identify journalists' sources, Reuters reported on Monday. "It is changing the whole concept of what is news," Madhavi Goradia Divan, the lawyer for Digital News Publishers Association (DNPA) told the judges. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less "Newsrooms will shut down, if we have to ask for permission ... it's then a complete regime of pre-censorship." The lawsuit is the most high-profile challenge to Modi’s privacy law. Until now, only free speech activists ⁠and a group of smaller news outlets had challenged it. Media companies received assurances in an August meeting with the government that the law would protect press freedom, but not having a written carve-out for journalists like in the European Union, Singapore and Britain was alarming, the news publishers said in a filing earlier this month. The publishers are demanding that most of the law's contentious provisions, which kick in from May 2027, should be quashed. They say the law could also force publishers to erase stories and give powers to the government to demand information from publishers that could expose reporters' sources. DNPA, the group which has challenged Modi's government, counts as members Ambani's Network18, Adani's NDTV and other marquee media groups including the Indian Express and Times Internet, which is part of the Times of India group, publisher of India's largest-selling English-language daily. Divan said during the hearing that earlier versions of the law excluded journalists, but the final one did not.

Indian media groups decry Modi’s privacy law in court, say newsrooms face shutdown risk
Asia
The Economic Times

RBI accepts 20 bps higher treasury bill cutoff yields than last auction

The 91-day cutoff yield came in at 5.93%, while the 182-day cutoff yield was at 6.54%. Indian government bonds faced volatility as oil price hikes raised inflation concerns and affected market sentiment. The 6.94% 2036 bond yield fluctuated but ended slightly unchanged as traders reacted to market conditions. Elevated crude prices have increased worries about inflation, a wider fiscal deficit, and slower economic growth for India. The rupee weakened further against the dollar, prompting fears of aggressive policy tightening by the Reserve Bank of India. KYC and KYB: Inside Damani’s DMart, the retail chain for the middle class. And stock for the long term? – Part 2 of 3 Will oil turn into a lingering problem? Is the world economy, India, or the market prepared?

RBI accepts 20 bps higher treasury bill cutoff yields than last auction
North America
Yahoo Finance

Outside Big Tech, Tuesday's Earnings Winners Jumped as Much as 11%

Stock Preachers News Commentary - Tuesday's session showed how quickly market leadership can change hands. The Dow Jones Industrial Average climbed 529.85 points, or 1.02%, to 52,495.88, and the small-cap Russell 2000 rose 1.65%, while the Nasdaq Composite slipped 0.02% to 26,424.82 and the S&P 500 added 0.28% to 7,712.57. Some of the day's sharpest moves came from third-quarter reports at companies well outside the megacap technology names: a credit data company, a toy and game maker, an indust

Outside Big Tech, Tuesday's Earnings Winners Jumped as Much as 11%
Asia-Pacific
The Straits Times

Bond market is a buy right now, J.P. Morgan Asset Management’s fixed income head says

J.P. Morgan Asset Management’s head of global fixed income Bob Michele believes There is a “generational amount of yield” in bond markets. SINGAPORE – There is a “generational amount of yield” in bond markets and it is time to buy debt, with a return of as much as 8% on offer in the US over the next the year, Bob Michele, J.P. Morgan Asset Management’s head of global fixed income, said on Oct 27. The bond market has rebounded following a sell-off in October and September, especially in developed-market sovereign debt. “We expect both the Fed funds rate and the Treasury curve to converge (around 4.5%),” Michele told reporters in Singapore. “Generally at the end of a hiking cycle the yield curve is flat... so there’s plenty of room for yields to run from where they are.” Carry and price appreciation are likely to deliver a return in the US market of 7% to 8% over the next 12 months, he added. US 10-year yields were around 4.99% on Oct 27 having spent much of the past few weeks above 5%. Investors expect the Fed funds rate window to stay at 3.75% to 4% when the Federal Reserve announces its interest rate decision on Oct 28. “There is yield all over the place,” said Michele. “When we looked at the Treasury curve a few weeks ago when it first went above 5%, to us the buy signal was real yield in the US that got to 3%. The last time we saw that was 2002. So at close to 25 years, that’s a buying opportunity.” Japan, Australia, investment-grade credit and emerging market sovereign debt are among the stronger picks, he said. “Everyone senses there’s a generational amount of yield in bond markets,” he said. “It’s pretty clear with the global capex cycle out there, recession is a very low probability. That means every back-up in credit spread (you) should buy.” The “tail risk,” he said, was the Fed needing to hike much further than 4.5% to contain inflation. REUTERS

Bond market is a buy right now, J.P. Morgan Asset Management’s fixed income head says
Asia-Pacific
The Straits Times

Bank of Korea warns country’s chip exports could fall by up to US$100 billion if AI spending slows

The assessment underscores growing anxiety over South Korea’s heavy reliance on chips, which account for roughly half of its exports. SEOUL - South Korea’s semiconductor exports could fall by US$50 billion to US$100 billion compared with earlier forecasts if capital spending on artificial intelligence by major US technology firms slows in 2027, according to central bank data. In a written response submitted to lawmaker Ahn Do-geol, the Bank of Korea (BOK) modelled a “pessimistic scenario” to assess the economic fallout if US tech giants curb their aggressive infrastructure outlays. Under the scenario, a sudden export shortfall would shave approximately 0.4 percentage point off South Korea’s gross domestic product (GDP) growth rate in 2027, by driving the country’s current account surplus well below the central bank’s initial projection of US$430 billion for 2027. The assessment underscores growing anxiety over South Korea’s heavy reliance on chips, which account for roughly half of its exports. The report said combined capital expenditure by five major US technology firms, Amazon, Google, Microsoft, Meta, and Oracle, has been growing rapidly, from US$40 billion in 2025 to an estimated US$80 billion in 2026, and is projected to reach US$110 billion in 2027. However, the BOK cautioned that considerable uncertainty remains over the trajectory of AI demand and the broader memory chip business cycle. REUTERS

Bank of Korea warns country’s chip exports could fall by up to US$100 billion if AI spending slows
North America
CNBC Finance

GM aims to develop vehicles in as little as two years with AI, software push

NEW YORK — General Motors plans to lean into artificial intelligence and vehicle software for future growth and development amid increasing competition abroad from Chinese automakers and a tougher U.S. market. The Detroit automaker on Wednesday shared new details about a proprietary AI agent it's releasing under its OnStar brand, plans for a fourth generation of more efficient all-electric vehicles and a target to cut its vehicle development time in half. GM also reconfirmed that by 2028, it wants to have eyes-off highway driving, or "personal autonomy," that will let drivers take their attention off the road. The automaker said that technology would start with the Cadillac Escalade IQ EV before rolling out to other, more high-volume models. "All of these developments are building us the car of the future," CEO Mary Barra said Wednesday during an event laying out the plans, called "GM Forward," in downtown Manhattan. The initiatives, which Barra, Chief Product Officer Sterling Anderson and other executives discussed at the event, are designed to streamline the automaker's operations, while also improving the capabilities of its vehicles for customers. "Over the last 12 months, we've evolved how we design, engineer and build our vehicles," said Anderson, who led the event and who has been tasked with overseeing GM's latest technology transformation. GM said it is now targeting a vehicle development time of roughly two years from concept to production versus a traditional four- to five-year cycle. However, the company did not detail a timeline for reaching that goal. The event comes as Chinese automakers are growing outside of the U.S. with rapid development times of new technologies and vehicles. Consulting firm AlixPartners said it believes China is currently bringing vehicles to market twice as fast as traditional automakers, with 40% to 50% less investment and a 30% cost advantage. GM also continues to play catch-up to U.S. EV leader Tesla when it comes to delivering technology advancements through over-the-air updates and automated driving capabilities. Anderson, a former Tesla executive, declined to speak specifically about how GM's technologies will compare to the EV maker, but said GM's systems will be able to visualize, or see, more things through the use of multiple types of sensors than a strictly camera-based system, which Tesla uses. He also said the rapid development and new software architecture will help the company better compete against Chinese automakers abroad. "There's inherent virtue to speed," Anderson told CNBC during an interview after the event. "Not just in being able to get a car out faster, it's being able to develop a system that's far more performant that you could have otherwise."

GM aims to develop vehicles in as little as two years with AI, software push
Europe
BBC Business

Will a new code end 'rip-off parking charges'?

"I was completely on edge, every single day," said Rosey Greenwood. "I had letters coming through - I had debt collectors after me." Two years ago, Rosey was being told to pay £1,906 because she had taken too long to pay for parking. Rosey had paid every single time she parked at the Copeland Street car park in Derby, and had bank records to prove it. But Rosey had unknowingly broken the car park's terms and conditions, which stipulated that drivers must pay within five minutes of entering. Rosey could not afford to pay £1,906 - she was due to get married and also saving up to buy her first home. As she prepared to fight the case in court, her fiance emailed the BBC and asked us to "shed some light" on what was happening. The case was then raised in Parliament, external by Derby North MP Catherine Atkinson, who described the charges - which had caught out countless other motorists - as a "five-minute rip-off charge". The parking sector subsequently banned the five-minute payment rule by updating its code of practice, external, but the government is going further by bringing in a statutory Private Parking Code of Practice. "These charges leave people feeling ripped off and out of pocket, so I'm putting a stop to them," Prime Minister Andy Burnham said, external on Monday. The government's new Private Parking Code of Practice was laid out in Parliament on Tuesday. Housing and communities minister Florence Eshalomi said, external the new code "will give drivers a range of rights and protections to make these unfair practices a thing of the past". The code is now subject to a 40-day period of parliamentary scrutiny, during which MPs and peers can object before it is formally issued. In places, the code appears to be very similar to the private parking sector's existing code of practice, external.

Will a new code end 'rip-off parking charges'?