Apple's Greater China Sales Jump 21% to $17.5 Billion as Memory Costs Test Margins
Record September-quarter revenue of $114.5 billion came with inventories more than doubling and a foldable iPhone its suppliers cannot build fast enough.
World
Brazilian Stocks Plunge 13.7% and the Real Slides After Lula Wins Runoff
Investors had bet on a Bolsonaro victory after the first round. Lula's narrow comeback reversed that trade and put Brazil's debt back in focus.
EU and China Reach Hybrid Car Understanding, Pledge Faster Rare Earth Licenses
Two days of talks in Beijing pulled both sides back from a trade war, but EV duties stay in place and the hybrid terms remain unpublished.
QatarEnergy Signs 20-Year Deal for Up to 3 Million Tons a Year of Woodside's US LNG
The world's top LNG exporter has now lined up 7 million tons a year of U.S. gas as force majeure on its own cargoes runs to year-end.
Americas
Amazon Keeps $220 Billion Spending Plan as AWS Grows 39%, a Boon for Asia's Suppliers
Memory chip costs, Taiwanese-built server racks and a $578 billion cloud backlog tie Amazon's AI build-out to factories across Asia.
U.S. Factory Index Rises to 55.5 in October, Lifting Demand for Asian Chips and Parts
Production hit its fastest pace since 2021 and imports picked up, but a prices gauge above 75 keeps a Fed rate increase on the table for Asian currencies.
U.S. Crude Supplies 27.5% of Japan's September Oil Imports as $80 Million Tankers Test Asia Trade
American oil is now Japan's second-largest source after the UAE, and Kpler expects Americas arrivals in Asia to jump in November, even as supertanker rates squeeze the trade.
Fed's Barkin Flags Stubborn Inflation as 2-Year Treasury Yield Climbs Back to 4.56%
Wall Street had its best day since April on Monday, but short-dated Treasury yields rose as a Fed official pointed policy toward tighter settings, keeping pressure on the won and yen.
European Central Bank
ECB Holds Deposit Rate at 2.5%, Leaves December Hike in Play as Lagarde Plans Early Exit
Policymakers debated a hike before agreeing to wait for more data, and Lagarde said she will leave on Feb. 7 to have the freedom to engage on matters that are not monetary policy matters.
Euro Zone Economy Grows 0.4% in Third Quarter as France Shrinks, ECB Eyes December
Eurostat's flash estimate showed growth holding up despite the energy shock, putting the spotlight on Wednesday's October inflation reading.
Lagarde Tells Japan's Yomiuri ECB Path Is Set Unless 'Significant Changes' With Inflation at 4%
In an interview with a Japanese newspaper, the ECB president said high-debt countries such as France are more exposed to rising global yields as governments compete with AI companies for financing.
Italy's Inflation Jumps to 5.4% and France's Hits 3.4% in October as Energy Costs Bite
National flash data set up Eurostat's euro zone reading on Nov. 4, while a weaker euro has cut the home-currency value of Asian exporters' European sales.
Gulf Trade
Middle East Fertilizer Exports Fall 70% Even as Non-Iran Oil Flows Regain Prewar Levels
Gulf urea and sulfur cargoes have not followed oil back to prewar levels, and Rystad Energy says alternative supplies come at a higher price.
Emirates NBD Profit Flat at 6.4 Billion Dirhams in First Full Quarter With RBL Bank
Dubai's biggest lender posted its first full quarter with RBL Bank on its books, as India deposits and loans swelled the balance sheet while Turkish provisions weighed.
Hormuz Oil Flows Stuck at 42% of Prewar Levels as Tanker Attacks Test Iraq's Asia Rebound
Iraq says exports are back near 3.4 million barrels a day, but strikes on engine rooms and soaring freight costs keep Asian buyers paying for the risk.
OPEC+ Holds December Oil Output at 31.01 Million Barrels a Day, Sets Up Nov. 29 Test on 2027
Seven core producers left targets unchanged for a third month as Brent sits near $118 and the group turns to next year's quotas.
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