Business & markets
Barkin Says Fed Should Tread Carefully on Rates as Inflation Tops Risk List
Richmond Fed President Tom Barkin says inflation, not jobs, is the bigger threat after nearly six years above the Fed's 2% target. He wants the central bank to move "with care" anyway, pointing to AI's wild cards for hiring and investment. Investors expect a rate hike at the Dec. 8-9 meeting.
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As it breaksGoolsbee: The Fed Has to Own Its Inflation Failure
Chicago Fed President Austan Goolsbee said Monday the central bank must accept a cost and inflation failure in its mandate, calling employment and growth "pretty stable." He flagged services inflation and the AI data center buildout as signs of old-fashioned demand overheating.
Honda bets $3B on new Ohio plant, 2,000 jobs and a hybrid-first lineup
Honda is dropping $3 billion on a new assembly plant near Marysville, Ohio, with production set for 2029, room for 240,000 vehicles a year and more than 2,000 jobs. Hybrids get top billing, but the line will also handle gas and electric models as Honda races to build more of its cars on American soil.
NY Fed survey: Americans' job-market gloom hits highest since April 2020
Americans' fears that the jobless rate will climb over the next year hit their highest level since April 2020, according to the New York Fed's October Survey of Consumer Expectations. Layoff worries ticked up too, even as Friday's government data showed 165,000 jobs added in October and unemployment at 4.1%.
Wall Street rallies as oil slides, but Nvidia sinks 6.3% on probe into CEO Huang
U.S. stocks climbed for a second straight day Monday, with the S&P 500 up 1.1% and the Dow ahead 606 points, as Brent crude slid 5.5% to $92.96 a barrel. Nvidia dragged the other way, dropping 6.3% after its board opened an investigation into CEO Jensen Huang.
Nasdaq jumps 2.5% as Nvidia dives 8% on Huang spy probe
Wall Street shook off last week's AI rout Monday, with the Nasdaq jumping 2.53% while Nvidia cratered 8% at the open. The chipmaker opened an internal investigation into whether CEO Jensen Huang was the target of a foreign intelligence effort. Citigroup still downgraded US equities to neutral.
Brent Crude Logs Steepest Weekly Slide Since Covid, Gasoline Nears $4
Brent crude dropped 1.7% to $96.67 a barrel, capping a 16% weekly plunge — its steepest since the pandemic hit. U.S. gasoline is averaging about $4.01 a gallon and knocking on the door of $3.99. Traders are slashing the odds of a fresh all-time high for oil by year-end.
Morgan Stanley Buys Chicago Fintech Vinyl Equity to Own Its Share-Transfer Plumbing
Morgan Stanley announced on November 9, 2026, that it will acquire Vinyl Equity, a Chicago fintech running SEC-registered transfer agent services. The bank wants shareholder recordkeeping and equity operations in-house instead of farming them out. The deal is expected to close in the first quarter of 2027.
Bessent and Greer press China on farm buys as soybean rally fades
Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer told Vice Premier He Lifeng that Beijing must deliver on agricultural purchases and other past pledges. Soybean futures spiked by the most in over two weeks on the news, then handed the gains back. China countered with "serious concerns" about new U.S. restrictions.
French bond yields slide to 4.69%, lowest since Sept. 25
French government bonds are rallying. The 10-year yield sank to roughly 4.69%, its lowest since Sept. 25, unwinding a spike that hit 5.14% in October — the highest level since 2002. The gap over German bunds has tightened below 150 basis points, down from a decade-wide 178.
Barrick Mining Beats Profit Forecasts as Gold Prices Climb
Barrick Mining posted adjusted profit that topped expectations, powered by higher gold prices. Output rose 3% from the second quarter to 816,000 ounces, and the miner stuck with its 2026 production guidance.
Emirates president Tim Clark blames Iran war for delaying his retirement
Emirates president Tim Clark, 76, says the Iran war scuttled his plan to step down — the second time global turmoil has stalled his exit. He had been ready to go after the airline's record profit year, but missile attacks, closed airspace and pricier jet fuel instead dragged Emirates' half-year profit down 66%.
Motor insurers shell out £3.2B as the average claim climbs to £4,900
The average motor insurance claim hit £4,900 in the third quarter, up 1% year on year, while insurers paid out £3.2 billion to road users — matching the previous quarter's record. Windscreen claims jumped 9%, with the average repair or replacement costing £298. The typical premium sat at £562.
Oil sinks 4% as Trump calls new Iran strikes 'highly unlikely'
Crude cratered Monday after President Trump said another round of strikes on Iran is "highly unlikely" while peace talks continue — and that he won't target Iranian power plants or bridges. WTI fell by 4.07%, now at $87.08 a barrel, with Brent down 4.4% at $94.09. It's a hard reversal from last week's rally.
Bon Secours affiliate lifts Surgery Partners bid to up to $6B
HealthSpan Partners sweetened its cash bid for Surgery Partners on Monday, offering $25 a share and valuing the deal at up to $6 billion. The bump came after a rival floated an unsolicited $28-a-share approach on Nov 3. Surgery Partners shares climbed 12% premarket.