Latest Developments

Europe
The Guardian

Mark Thompson will remain chief executive at CNN after Paramount sale

Mark Thompson on 15 May 2024 in New York City. Photograph: Dimitrios Kambouris/Getty Images for Warner Bros DiscoveryView image in fullscreenMark Thompson on 15 May 2024 in New York City. Photograph: Dimitrios Kambouris/Getty Images for Warner Bros DiscoveryCNNMark Thompson will remain chief executive at CNN after Paramount saleDecision by Paramount Skydance executive David Ellison was relief to employees who feared overhaul – and possibility of Bari Weiss taking over Mark Thompson, who since 2023 has served as chair and chief executive of CNN after a storied career in British and American media, will retain his role even after Paramount Skydance takes control of the company, he announced in a memo to network staffers on Monday morning. While Thompson wrote that the “specifics of how CNN will plug into and operate in the new company have yet to be finalized”, he offered some pledges about his role at the combined company, which will be led by David Ellison, the Paramount Skydance chief executive, after the company merges with CNN parent company Warner Bros Discovery. The deal is expected to formally close on Tuesday. “First, I’m convinced that from David Ellison on down, Paramount Skydance leadership really does believe in news alongside entertainment as a top strategic opportunity for our new company,” Thompson wrote. “They’ve seen our digital strategy and are as excited about it as we are. “And second, having now spoken to them at length on the topic, I have real confidence that they both understand and will fully support the principle and practice of the kind of independent news that CNN has always stood for. That’s why I will be leading CNN into this new chapter as it becomes one of Skydance’s suite of major media assets and global brands, and leading it as an independent editor-in-chief with the same responsibilities and prerogatives that I have now.” The decision by Paramount Skydance leadership will bring relief to many CNN employees who feared a complete overhaul of the network. Some employees had also shared concerns that Ellison could install Bari Weiss, editor in chief of CBS News, atop the cable news network. (The Wall Street Journal first reported that Ellison had asked Thompson to stay on.) “That sound you hear is a giant sigh of relief from halls of Techwood,” said a CNN producer, who was not authorized to comment, referring to the company’s Atlanta headquarters. That sentiment was shared by other CNN employees who spoke with the Guardian. According to an announcement of the combined company’s leadership team, Weiss will also remain in her role as editor in chief of CBS News, despite some speculation about a potential change in her purview. Thompson, 69, was brought on to take charge of CNN in 2023 after the tumultuous leadership of chief executive Chris Licht, who lacked network management experience and lasted just over a year. Thompson had previously served as director-general of the BBC from 2004 to 2012 and then as president and CEO of the New York Times from 2012 to 2020. At CNN, Thompson has prioritized the network’s digital and streaming operations, as well as the creation of a new direct-to-consumer product called CNN All Access in October 2025. The CNN producer credited Thompson with “stabilizing” the business and helping to build its post-linear television future. Thompson has also had his hands full with Donald Trump’s White House, which last month barred CNN – along with MS Now and Politico – from the building before a judge temporarily restored access. A former longtime CNN producer said that Thompson’s presence would be reassuring because he is a known entity. “They know what he brings,” the person said.

Mark Thompson will remain chief executive at CNN after Paramount sale
Asia-Pacific
The Straits Times

MAS flags risks of using AI agents in digital-asset trading

Chia Der Jiun, managing director of the Monetary Authority of Singapore said innovation must be founded on trust and stability. SINGAPORE – As artificial intelligence agents increasingly move beyond analysing information to executing transactions, this gives rise to the question of managing risk, especially in the areas of liquidity and collateral, said Chia Der Jiun, managing director of the Monetary Authority of Singapore (MAS), on Oct 9. “We are entering a world where AI agents may increasingly act on behalf of individuals and institutions, not only to analyse information, but also to initiate and execute financial transactions and other consequential actions,” he noted. Chia was speaking at a conference organised by business school INSEAD at its Asia Campus. The conference, The Future of Digital Finance: Infrastructure, AI and Regulation, brought together academics, industry leaders and policymakers. With the foundational capabilities of blockchain and digital assets already proven, the focus has shifted to commercial viability and trust. “The question is no longer simply whether these technologies work,” he added. “The more important question is what is needed to operate safely, commercially and at scale. Innovation must be founded on trust and stability if it is to scale.” As the use of AI agents increasingly intersects with tokenised assets and digital money, Chia warned of “significant implications” for the movement of capital. Because customer agents can autonomously optimise and execute trades, this could result in money moving around faster “for smaller differences in benefits and incentives”, he said, noting that financial institutions will thus have to “sharpen their value proposition”. He pointed out that this acceleration poses implications for risk management, particularly regarding liquidity and collateral. “While agents create significant opportunities for efficiency, accessibility and innovation in financial services, they also have to be deployed safely,” he said. “This then requires controls around authority, permissions, identity, accountability and governance.” Chia added that financial institutions “must be able to ensure” that AI agents act within the scope of a user’s instructions, institutional policies and risk limits, while complying with regulatory requirements. Earlier in 2026, MAS and industry participants published the Safeguards for Agentic Finance at Runtime (SAFR) white paper. Additionally, through the Future of Finance Institute, MAS has released an open-source reference implementation of SAFR to support industry experimentation.

MAS flags risks of using AI agents in digital-asset trading
Asia
The Hindu BusinessLine

Intex eyes first fundraise by FY27-end, IPO by FY28 as festive sales fuel expansion

Intex Technologies, which reported revenue of about ₹460 crore in FY26, is targeting more than ₹800 crore in FY27 and ₹1,500 crore by FY28 as it prepares for its first external fundraise by the end of FY27 and a potential stock-market listing in the following year as the Indian mass premium electronics maker is betting on festive sales, manufacturing expansion and digital distribution to sustain growth of 70–80 per cent despite rising input costs. Founder Keshav Bansal told businessline that Intex remains cash-flow positive and has no immediate need for outside capital. However, it intends to bring in investors before pursuing an IPO, potentially within two years. He did not disclose the proposed fundraising amount or valuation. Intex, previously known for mobile phones, now offers smart televisions, air conditioners, washing machines, refrigerators, fans, water heaters, and smaller kitchen appliances. Revenue grew about 80 per cent last year and 70 per cent during April–September FY27, against low single-digit industry growth. The company is targeting price-conscious households upgrading to larger televisions and higher-capacity appliances. “The customer is moving towards premium, but he’s still in the mass category,” Bansal said. A global memory-chip shortage has increased television input costs by 35–40 per cent year on year. A 55-inch Google TV priced at ₹32,000–33,000 in January now costs approximately ₹45,000, while a 65-inch model has risen from ₹50,000 to ₹70,000–75,000. “It has continued to rise. It is not even looking to stabilise right now,” Bansal said. Air-conditioner prices have increased 6–7 per cent because of copper costs and energy-efficiency changes, while washing machines are 4–5 per cent costlier. Intex is seeking to preserve a 15–20 per cent price advantage over leading competitors as consumers increasingly use financing schemes to upgrade. Intex’s expansion plans include manufacturing investment at Kundli, 50 proposed Smart World stores and a wider product portfolio. Bansal said the company’s ₹150-crore capex guidance remains unchanged. Its established network of more than 500 distributors and 25,000 dealers reaches approximately 18,000 PIN codes. Around 90 per cent of sales remain offline, while Intex aims to increase online sales to 15–20 per cent by FY28. About 35–40 per cent of televisions sold nationally already move online, Bansal estimated. Intex is discussing smart TV and air-conditioner listings with quick-commerce platforms, although delivering bulky appliances requires specialised logistics. “Handling FMCG, fashion or grocery products is very different from a consumer-electronics product, given the size, scale, sensitivity and fragility of the product,” he said.

Intex eyes first fundraise by FY27-end, IPO by FY28 as festive sales fuel expansion
Asia
The Hindu BusinessLine

India-EU FTA to open doors for Czech investments and joint ventures in India

The proposed India-European Union free trade agreement will create opportunities for deeper collaboration between Indian and Czech companies, First Deputy Prime Minister and Minister of Industry and Trade of the Czech Republic Karel Havlicek said here on Monday. He highlighted that firms from Czech Republic, a European Union (EU) nation, are keen to forge joint ventures and facilitate investments in India. Addressing the India-Czech Republic Business Forum organised by CII, Havlicek described Czech Republic (Czechia) as an engineering oriented nation and one of the major countries in the world which can produce a complete aircraft. “At the same time, we are ready to offer companies from the construction segment, energy sector, transport, and also ready to collaborate at the level of R&D,” he shared. Earlier this year, the 27-nation EU and India announced the conclusion of negotiations for the free trade agreement (FTA) with the two sides expected to ink the pact by the end of the year. “It (signing of the pact) is extremely important because that is the moment when we are creating a free trade zone of over 2 billion people. It is amazing, so there is a chance for Indian companies to work with Czech firms and Czech companies are ready to be active in India,” Havlicek said. He is leading a business delegation to foster commercial ties with India, alongside other engagements. “We are coming not only as exporters but at the same time as entrepreneurs, they are ready to create joint ventures with your businesses in India and at the same time, to invest in India because we know that your strategy which is called Make in India, it is the most important economic topic of your country,” he said in his address to the forum. Under the proposed pact, 93 per cent of Indian shipments will enjoy duty-free access to the 27-nation bloc, while the import of luxury cars and wines from the EU will become less expensive. The deal, concluded after negotiations spanning over two decades, will create a market of about 2 billion people across the world’s fourth-largest economy, India, and the second-largest economic bloc, the EU. Taken together, India and the EU account for 25 per cent of the global GDP and one-third (about USD 11 trillion) of the international trade (about USD 33 trillion). Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

India-EU FTA to open doors for Czech investments and joint ventures in India
Europe
BBC Business

Average five-year mortgage rate hits 6% for first time in three years

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished5 October 2026, 10:02 BSTUpdated 2 hours agoThe average interest rate on a new five-year fixed mortgage deal has hit 6% for the first time in three years, figures show. The cost of home loans has been rising in recent weeks, as lenders face higher costs amid international concern over rising prices, interest rates, and government borrowing costs. It means home buyers and anyone renewing a fixed deal have seen about 1,500 mortgage deals priced below 5% vanish since the start of September, according to the financial information service Moneyfacts. It described the situation as "brutal" for borrowers, with the average rate on five-year deals now at 6%, and at 5.98% on two-year fixed mortgages. For borrowers, the interest rate on a fixed mortgage does not change until it expires, usually after two or five years, and a new one is chosen to replace it. The vast majority of homeowners and buyers have this kind of mortgage. Since the Iran war began, global economic uncertainty has been pushing up the cost of deals. Moneyfacts said that the biggest High Street lenders had made repeated fixed rate increases during September. Barclays increased selected fixed rates on four occasions, while HSBC, Lloyds Bank, Nationwide, NatWest, Santander and TSB each made three rounds of increases. It meant that the average rate on a new five-year deal was at its highest since September 2023. On two-year deals, the average rate is at its highest since December 2023. A modern browser with JavaScript and a stable internet connection is required to view this interactive. The information you provided on your monthly payments would not be sufficient to pay off your mortgage within the number of years given. This calculator does not constitute financial advice. It is based on a standard mortgage repayment formula dependent on the mortgage size and length and a fixed interest rate. It should be used as a guide only and does not represent the suitability, eligibility or availability of mortgage offers for users. For exact figures, users will need to approach an official mortgage lender. "Average fixed mortgage rates rising back to three-year highs will be disastrous news for borrowers," said Rachel Springall, finance expert at Moneyfacts.

Average five-year mortgage rate hits 6% for first time in three years
Europe
BBC Business

We're saving £100 a month into pensions for our toddler and baby - here's why

Richard and Caitlin Brain's two children are aged just 20 months and five months respectively, yet mum and dad have already set up pensions for them. The Brains, who live in Swansea, south Wales, are paying £50 a month into each of their kids' accounts. It's money that the children won't be able to access until they are 57, under current UK private pension fund rules., external Despite the wait, Richard, 30, is convinced that he and Caitlin, 28, are doing the right thing. "Paying into their pensions means we can play a part in their future far beyond our own years. And the money has decades to grow." Richard's financial knowledge is explained by the fact he works for an investment firm. Caitlin is currently on maternity leave from her job working for the local council. He earns less than £90,000 a year, while she currently doesn't have an income as she has not yet returned to work after her statutory maternity pay of £194 a week ended. In addition to their children's pensions, Richard and Caitlin have also set up Junior ISA savings accounts for them, and pay in £60 a month per child - money the kids will be able to access when they turn 18. The couple believe this is the best of both worlds – the ISAs could help their children with university costs, starting a business or a house deposit, while the pensions are intended to provide financial security much later in life. Paying a combined £220 a month into their kids' funds, in addition to £200 into their own private pensions and savings, the couple say they must live more frugally than in the past. "We're not on the breadline, but investing this money does mean doing a little less," says Richard. "We don't eat out as often as we used to, which as foodies is a pain. "And we don't go as big for one another on birthdays and Christmas so that we can still do it for the kids." Pensions for children, also called Junior self-invested personal pensions (SIPPs), were introduced in the UK in 2001. You can pay in a maximum of £2,880 per year, which the government will then top up with £720 tax relief to make a total £3,600.

We're saving £100 a month into pensions for our toddler and baby - here's why
North America
CNBC Finance

Nike shares drop as retailer posts disappointing sales, announces layoffs as part of restructuring

Nike on Thursday posted a mixed fiscal first quarter and announced a restructuring plan that will lead to layoffs starting next year. The company also offered a full-year outlook, saying it expects revenues to decline by a high-single digit percentage in fiscal 2027. Nike also said it expects adjusted earnings per share to be in a range of $1.15 to $1.35. Nike reported net income of $712 million, down 2% from $727 million the year prior. Revenue fell 4% to $11.21 billion. The retailer said Nike brand revenues took a hit largely due to sustained declines in the China business. Revenue in the market dropped 26%. CEO Elliott Hill said on a call with analysts that the company is "moving with urgency" to improve its business in the region. Its North America revenue came in at $5.13 billion, just above estimates of $5.11 billion, according to StreetAccount. Nike also reported gross margin of 42.8% compared to estimates of 42.4%. "Despite that progress, our Nike performance business is not yet large enough to offset the pressure we're seeing in Nike Sportswear, Jordan Brand, and Greater China," Hill told analysts. "We're taking deliberate actions to strengthen those businesses, but realizing the full benefit of those efforts will take time." Nike's sportswear segment, which Hill said accounted for just under half of the quarter's revenue, fell by a low-double digit percentage. "Overall, there's a lack of energy in the lifestyle space right now, which is impacting traffic," he said on the call. "Yes, the consumer is cautious, but as the leader in the industry, it's on us to bring more creativity to sportswear." The sneaker giant also announced a restructuring plan to "position Nike for long-term growth." The strategy is expected to result in layoffs beginning in 2027, though the company did not provide any further details on how many jobs it would cut. "This work will result in fewer roles across Nike, and I want to acknowledge that news like this creates uncertainty. I don't take that lightly," Hill wrote in a letter to the company. The company said it plans to focus on its supply chain modernization, organizing into three geographies, building a new campus in India and changing its work and workforce. Those geographic regions will be the Americas; the Asia Pacific and Greater China; and Europe, the Middle East and Africa. The strategy, which Nike has dubbed Pace, is expected to deliver approximately $2.5 billion in savings through fiscal 2031. It'll also result in a 15-cent restructuring expense to fiscal 2027 earnings per share, the company added.

Nike shares drop as retailer posts disappointing sales, announces layoffs as part of restructuring
North America
CNBC Finance

General Motor Q3 sales drop 5.5%, while Toyota buoyed by EVs, hybrids

General Motors on Thursday reported a year-over-year sales decline of 5.5%, with 670,974 new vehicles sold during the third quarter. GM's sales of all-electric vehicles are down across the board, as enthusiasm for EVs wanes. EV demand spiked last year ahead of the Trump administration ending up to $7,500 in federal incentives for consumers to purchase an electric vehicle. During the same period last year, GM reported record sales of its electric vehicles. Against those comparisons, EVs this year saw dramatic drops, with the Equinox EV down 92.4% during the most recent quarter, at 1,905 vehicles sold. The Blazer EV was down 84.4% and Hummer EV sales fell 72.9%. The report comes after Cox Automotive said last week that new vehicle sales have been stronger than expected this year and raised its 2026 forecast by roughly 2%, to 16.1 million units. Hybrid vehicle sales are expected to capture a growing market share of car sales, as inflated gas prices pressure consumers. Despite offering a broad EV lineup, the Detroit automaker only offers one hybrid vehicle, a Corvette. Experts expect GM's weakness in the sector to impact its overall sales. Toyota Motor reported that its EV and hybrid vehicles made up over 57% of the Japanese automaker's sales this quarter. Toyota said sales were up 0.6% for the most recent quarter, with 633,223 vehicles sold. Sales of its electrified vehicles, which include hybrids, were up 28.5%, with 363,367 units sold. That helped Toyota continue to narrow its gap with U.S. sales leader GM, which is now less than 136,000 units. That compares to a full-year gap of roughly 335,000 units last year. Cox Automotive earlier this year said if such sales trends continue, Toyota could once again overtake GM to become the U.S. sales leader in the coming years. Honda Motor, which also offers several hybrids and leads major automakers in fuel economy in the U.S., reported a 9.3% increase in U.S. third-quarter sales. Its hybrid sales were a record of more than 106,000 units during the quarter. "We've got really high demand for hybrids," Lance Woelfer, head of American Honda Motor's U.S. sales, told CNBC. "We're finding more and more consumers are figuring out hybrids meet their needs."

General Motor Q3 sales drop 5.5%, while Toyota buoyed by EVs, hybrids
North America
CNBC Finance

How AI is redefining Wall Street jobs — and boosting demand for this new 'hottest skill' by 1,721%

Before artificial intelligence can take Wall Street jobs, it is first creating them. Posts for AI-related roles at banks including JPMorgan Chase, Citigroup and Capital One surged 49% this year compared with 2025 to 139,819 listings, according to an analysis by enterprise hiring data firm Draup that was provided exclusively to CNBC. The fastest-growing area is a cluster of skills involving AI agents, according to Draup, which culls data from public job posts and platforms including LinkedIn. For instance, references to agent orchestration, or the ability to design agents that work in concert on a task, jumped 1,721% this year. "This is arguably the hottest skill on Wall Street," Draup CEO Vijay Swaminathan said in an interview. "It's a massive opportunity. They need people who understand data and people who understand AI and where to put it." The job listings show that Wall Street banks are moving beyond chatbots to the next phase of their AI strategy, one that has implications for executives, employees and shareholders. To make good on AI's promise to boost productivity and automate repetitive tasks, banks are pressing forward into a future filled with armies of agents handling an increasing share of labor. While an earlier wave of AI hiring was dominated by engineers and data scientists building models or adapting them to corporate data, the boom has expanded to include people who are responsible for embedding AI directly into business lines. Deploying AI inside a financial institution often requires stringing together multiple specialized agents: one to inspect raw data, another to analyze a document and a third to check regulatory compliance, for example. The workers involved in this process, often called forward-deployed engineers, need a combination of technical abilities and domain knowledge of a specific business or function, from trading desks to back-office operations and human resources, according to Swaminathan. For instance, creating a team of agents to automate approval of employee vacation requests creates a web of edge cases and specific exemptions, he said. "There is a lot of complexity in an enterprise," Swaminathan said. "Sometimes these complexities are visible, but many times they are hidden. It takes a long time even to automate a simple process." The agent orchestration skill is especially relevant to forward-deployed engineers, because their job is to figure out which agents are needed, what each one does and which technology to use, said the Draup CEO. It also involves deciding when human overseers need to be involved, he said. Other in-demand skills related to the AI build-out involve understanding tools and techniques that give agents the ability to get things done.

How AI is redefining Wall Street jobs — and boosting demand for this new 'hottest skill' by 1,721%