Rolling coverage of the latest economic and financial news It is red across the board in the European stock market this morning, though the falls are not steep. The UK’s blue chip FTSE 100 index is down 0.4%, while the French Cac 40 is down 0.7%. The German Dax is down by 0.6%. The Stoxx 600, which tracks the biggest companies across the continent, has fallen by 0.4%. Continue reading...
Oil hits five-month high as global stocks wobble on AI fears; retail sales in Great Britain fall as shoppers cut back - business live

Original reporting
The Guardian: read the full reportFollow this story
Earlier reports and follow-ups on the same developing story.
Related stories
Volvo Cars plunges 27% as CEO says China sales slump came 'faster than we thought'
The Swedish automaker cited a deteriorating environment led by "tougher" market conditions in China and the U.S., which "negatively affected free cash flow."

What is the Budget and what could be in it?
Chancellor John Healey will set out his plans for UK taxes on 28 October.
Defense giant Saab sees orders triple after Gripen fighter jet deal with Ukraine
European governments race to turn defense spending pledges into military capability, boosting companies' order books.
Japan core inflation in September surges to its highest this year at 2.1%
Core inflation, which strips out prices of fresh food, was in line with the 2.1% forecast by economists polled by Reuters.

The Indian workers filming their work to train AI
Indian workers are being paid to film themselves at work and the footage is used to train AI.

UK consumer confidence falls at fastest rate since Brexit vote as cost of living bites
Economic fallout from war in Middle East adds to pressures on consumers and on chancellor before budget Consumer confidence in the UK has fallen at the fastest rate outside the Covid pandemic since the 2016 Brexit vote as the escalating economic damage from the war in the Middle East hits Britain. With less than a week before John Healey’s first budget, the latest barometer from the data company GfK indicated confidence plunged by 11 percentage points in October to -24 amid pressure on consumers from the rising cost of living. Continue reading...