News from October 30, 2025

New York declares state of emergency to award food banks $65m amid shutdown

Oregon and Virginia also issued emergency declarations to fund food assistance as shutdown imperils Snap benefits

Guardian staff and agency 1 days ago

Technology

Hurricane Melissa barrels through Caribbean, accelerates towards Bermuda

APResidents walk through Santa Cruz, Jamaica, Oct. 29, 2025, after Hurricane Melissa passed. HAVANA/KINGSTON/PORT-AU-PRINCE: Hurricane Melissa tore through the northern Caribbean and was seen picking up speed as it churned across open ocean towards Bermuda on Thursday, leaving a trail of high winds and destruction from Jamaica to Cuba and Haiti in its wake. People across the Bahamas and nearby Turks and Caicos hunkered down as the passing storm pummelled them with dangerous gusts and rain. Around 515 miles (830 km) northeast of the storm's last position, Bermudans prepared for its approach, expected by the evening. Authorities across the region, struggling to keep track of the devastation, confirmed at least 25 deaths in Haiti - 10 of them children - and four in Jamaica.Satellite imagery showed swaths of trees and homes devastated in the hardest-hit areas of Jamaica, sparse remaining greenery defoliated and most structures destroyed.Over 70% of the customer base in Jamaica was still without power as of Thursday morning, said Energy Minister Daryl Vaz, with power lines felled across the island's roadways.Many schools remained without power or water, officials in the capital Kingston said.As of 1500 GMT, Melissa was packing winds of 105 miles per hour (165 kph), according to the U.S. National Hurricane Center, downgraded from its peak to a Category 2 hurricane.Live EventsWADING BAREFOOT THROUGH MUDIt was expected to keep accelerating northeastward and "pass to the northwest of Bermuda" later on Thursday, before likely weakening on Friday, the Florida-based forecaster said.Bermuda will close its causeway on Thursday night and all schools and ferries on Friday among other measures "out of an abundance of caution," National Security Minister Michael Weeks said in a statement."I implore all residents to remain vigilant while we navigate another natural threat to our way of life," he said. People should check on their neighbours and stay off roads until further notice, he added.Melissa struck Jamaica on Tuesday as the strongest-ever hurricane to directly hit its shores, with sustained winds of 185 mph, far above the minimum strength for a Category 5, the strongest classification for hurricanes."DEVASTATION," read the front page headline on Thursday's Jamaica Observer newspaper.More than 130 roads remained blocked by trees, debris and electric lines, authorities said, forcing the military to clear roadways on foot into isolated areas, with ambulances following close behind.One road in the hard-hit coastal town of Black River was swamped with more than four feet of sand stretching over a mile, officials said.In a neighbourhood of the island's Montego Bay, 77-year-old Alfred Hines waded barefoot through thick mud and debris as he described his narrow escape from the rising floodwaters.“At one stage, I see the water at my waist and (after) about 10 minutes time, I see it around my neck here and I make my escape," he told Reuters on Wednesday."I just want to forget it and things come back to normal."Densely-populated Kingston was spared the worst damage and its main airport was set to reopen on Thursday. Relief flights and aid had begun to flow into the island's airports, authorities said, and the capital's port was slated to reopen Thursday.U.S. forecaster AccuWeather estimated Melissa could cost $22 billion in damages and economic loss and that rebuilding could take a decade or more.U.S. search and rescue teams were en route to Jamaica Thursday to assist in recovery efforts, Jamaican authorities said, and the United States said it was mobilizing support for countries throughout the region.U.S. Secretary of State Marco Rubio added on Thursday the Trump administration was prepared to offer "immediate humanitarian aid" to the people of Cuba - a long-time U.S. foe.Cuba`s foreign ministry said it was "awaiting clarification on how and in what way they are willing to assist."EVACUATIONS AND FLOODSMelissa was the Caribbean's third-most intense recorded hurricane, as well as its slowest-moving, which made it particularly destructive, AccuWeather said.Across the Bahamas archipelago, the government flew out nearly 1,500 people as the storm approached, in what it called one of its largest evacuation operations.High winds shook palm trees and whipped up waves at a resort near George Town, video showed on Wednesday.The storm did not directly hit Haiti, the Caribbean's most populous nation, but lashed it with days of rain. Authorities reported at least 25 deaths, largely due to floods in Petit-Goave, a coastal town 64 km west of the capital where a river burst its banks.At least 10 children were killed and 12 people are missing there, Haiti's disaster management agency said, adding that more than 1,000 homes have been flooded nationwide and nearly 12,000 people moved into emergency shelters.In Cuba, at least 241 communities remained isolated and without communications on Wednesday following the storm's passage across Santiago province, according to preliminary media reports, affecting as many as 140,000 residents. Across eastern Cuba, authorities mobilized a massive evacuation effort, moving 735,000 people to shelters outside the hurricane's cone. Tourists along Cuba's northern keys were also relocated to inland hotels.Cuba reported substantial infrastructure and crop damage but no loss of life as of midday Thursday.Scientists say hurricanes are intensifying faster with greater frequency as a result of warming ocean waters caused by greenhouse gas emissions. Many Caribbean leaders have called on wealthy, heavy-polluting nations to provide reparations in the form of aid or debt relief.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onhurricane melissabermudanorthern caribbeandaryl vazjamaica (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onhurricane melissabermudanorthern caribbeandaryl vazjamaica(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless Explore More Stories123

Martin Shwenk Leade 1 days ago

Technology

Pleasanton property sale: Single-family residence sells for $1.3 million

A house in the 7300 block of Tulipwood Circle in Pleasanton has a new owner. The 1,948-square-foot unit, built in 1968, was sold on Sept. 4, 2025 for $1,260,000, or $647 per square foot. This two-story home offers a roomy layout with four bedrooms and three baths. The lot of the property covers a substantial area of 8,965 square feet. Other houses that have recently changed hands close by include: In April 2025, a 1,593-square-foot home on the 7300 block of Tulipwood Circle in Pleasanton sold for $1,355,000, a price per square foot of $851. The home has 4 bedrooms and 2 bathrooms. A 1,948-square-foot home on the 4300 block of Muirwood Drive in Pleasanton sold in November 2024 for $1,745,000, a price per square foot of $896. The home has 4 bedrooms and 2 bathrooms. On Clovewood Lane, Pleasanton, in Pleasanton in March 2023, a 2,192-square-foot home was sold for $1,560,000, a price per square foot of $712. The home has 4 bedrooms and 2.5 bathrooms. This article was generated by the Bay Area Home Report Bot, software that analyzes home sales or other data and creates an article based on a template created by humans. Our real estate data comes from public records that have been registered and digitized by local county offices. You can report errors or bugs to content@bayareanewsgroup.com.

Bay Area Home Report 1 days ago

Technology

Appeal launched after clothes stolen in burglary at Birmingham home

A CCTV image of a man West Midlands Police officers want to speak to has been released as part of the appeal into the incident, which happened on August 8. A spokesman for West Midlands Police said: "Do you know who this is? "We want to speak with him after a house was broken into in Kingston Row in Birmingham, at around 3am on August 8. "A number of personal belongings including clothing were stolen. "Officers investigating have carried out multiple enquiries including reviewing CCTV footage but have been unable to identify the man involved. "If you can help with our investigation you can contact us via Live Chat on our website or by calling 101 quoting crime reference number 20/340260/25."

James Vukmirovic 1 days ago

Technology

Ex-USDA official warns farmers the GOP 'will do nothing' about Trump's 'colossal blunder'

A Kansas farmer recently told reporters: "Nothing … is going to make money” this year in President Donald Trump’s economy. Former USDA official and ex-U.S Trade Representative Greg Frazier warned him to get used to that. “If he wants to come out ahead this year, this eastern Kansas farmer should bet Republicans in the congressional delegation won’t help,” Frazier told the Kansas City Star. “If past performance indicates future results, it’s a sure thing.” “As markets shriveled this year, Sen. Roger Marshall (R-Kan.) claimed Trump gave ‘Kansas farmers and ranchers access to critically important export markets,’” according to Frazier. This fits what Marshall said during Trump’s first trade war with China years ago when he tried to claim Trump’s “policies are working.” But they were a catastrophe, said Frazier. Kansas farmers lost $1 billion in exports. Farm bankruptcies doubled and they triggered bailouts that cost billions. “Today’s farm trade collapse results from one of the most predictable policy failures in recent memory, a step-by-step replay of arbitrary … tariffs suffocating farm exports,” said Frazier, adding that “it’s inexplicable that those lessons are not being heeded by the president and the U.S. trade representative and the U.S. Department of Agriculture secretary — both of whom personally witnessed the destruction in Trump’s first term. “The victims of this colossal blunder are relearning a painful lesson. Their lawmakers will do nothing,” Frazier said. “They support the tariffs. In March, Kansas Reps. Ron Estes, Tracey Mann and Derek Schmidt voted in favor of them, twice. It was a legislative sleight of hand, one sentence tucked into a procedural motion that stops the House from even considering legislation to repeal the tariffs. They did it again Sept. 16.” In April, and again this week, Frazier said Sens. Marshall and Jerry Moran “could have repealed the tariffs,” but, they voted to keep them. “Signals of an emerging crisis appeared almost immediately after the president’s April 2 tariff announcement. It was projected in the export outlook planned for release May 29. But USDA leaders spiked the report, then excised the expert-generated analysis,” said Frazier, who served as Chief of Staff for the USDA under Bill Clinton. Meanwhile, Sens. Marshall and Mann tout trade announcements like Trump’s so-called move into the Australian beef market — which was already open to the U.S., and with U.S. beef processors lucky to move “$1-2 million worth of beef annually into Australia, compared to the $4 billion worth of beef Australia sent to the U.S. last year.” And while Trump’s USDA Secretary Brooke Rollins “was boosting these phantom deals,” behind the scenes Frazier said Agriculture Department officials were “putting pencil to paper developing the completely predictable bailout from tariff carnage.” The USDA paid U.S. farmers $28 billion during Trump’s first term trade war with China. Congress appropriated $10 billion in December for more emergency payments and Trump’s budget bill included $60 billion in new farm subsidies. But the cost to repeal the tariffs: Zero dollars, said Frazier. Read Frazier's Kansas City Star column at this link.

Adam Lynch 1 days ago

Technology

Washington Aims to Fully Substitute Russian Oil and Gas for China

US Energy Secretary Chris Wright told Bloomberg that the United States could completely replace Russia in China’s oil and gas market if Beijing decided to reduce imports from Moscow. "Absolutely. Today the US produces 50 percent more oil than Russia or Saudi Arabia. That puts not only the US, but the entire world, in a better position," Wright stated. He added that even if Russia’s supplies to the global market were cut in half, the balance could be maintained through American exports. According to him, China—being the world’s largest importer of oil and gas—could find a reliable supplier in the US, while Washington would gain both economic and geopolitical advantages. Differences in Export Structures Indeed, US oil production is at record levels of about 13.3 million barrels per day. But behind these bold statements lies a number of factors that cast doubt on the feasibility of such a scenario. First, the structure of American hydrocarbon exports is vastly different from Russia’s. The United States focuses primarily on liquefied natural gas (LNG) exports, whereas China traditionally relies on pipeline gas and long-term contracts at stable prices. Transitioning from one type of supply to another would require large-scale infrastructure investments—from building LNG terminals to developing new transportation corridors and processing capacities. Economic Barriers and Pricing Challenges Secondly, American companies are not always willing to sell raw materials at prices favorable to Beijing. Most US energy exports go to Europe and Latin America, where logistics are simpler and prices are higher. Redirecting large volumes of oil and gas to Asia would inevitably increase transportation costs, making American crude less competitive compared to Russian or Middle Eastern supplies. Political Context and Strategic Motives Wright’s statements cannot be viewed outside of their political context. The US administration has long sought to weaken Russia’s position in global energy markets. Any opportunity to sideline Moscow is seen in Washington not only as an economic achievement but also as a tool of geopolitical leverage. However, the real question is whether China truly needs such a partner. Despite its rhetoric about “energy diversification,” Beijing prefers to work with suppliers who do not use energy as a political weapon. Russia, by contrast, offers long-term contracts with flexible pricing and predictable policy. Limits of American Stability The United States, even if willing, cannot provide such stability. Every change of administration in Washington—Republican or Democrat—can shift the country’s energy policy. Moreover, the US energy sector is heavily influenced by domestic politics: environmental restrictions, tax fluctuations, and pressure from the “green” lobby all directly affect production and export volumes. Focus on Alaska and Political Optics Wright paid special attention to Alaska, calling the region “a place of enormous potential” for increasing oil production. President Donald Trump agreed, saying that China was reportedly interested in purchasing raw materials from Alaska. In reality, however, oil production in Alaska has been declining for several years due to high extraction costs and logistical challenges. The region is one of the most expensive in the world to develop, and in a highly competitive market—where prices often hover near break-even levels—hopes for major Alaskan exports seem more symbolic than practical. China’s Pragmatic Strategy In recent years, China has pursued a pragmatic policy of diversifying energy supplies without relying on a single partner. Besides Russia, major suppliers include Saudi Arabia, Iran, and several African nations. Unlike their American counterparts, these countries are often willing to make price and contract concessions to secure access to the vast Chinese market. Furthermore, energy cooperation with Russia holds not only economic but also political significance for Beijing. Joint infrastructure projects—such as the Power of Siberia gas pipeline—strengthen long-term ties and reduce both countries’ dependence on Western markets. Replacing such cooperation with unstable US supplies appears highly improbable. Conclusion: More Rhetoric Than Reality Thus, Secretary Wright’s statement should be viewed more as rhetorical bravado—a demonstration of American energy might and Washington’s desire to dominate the global hydrocarbon market. In practice, however, the picture is far more complex. US production is constrained by domestic politics, Asian logistics are difficult, and geopolitical risks remain high. Washington can proclaim its readiness to replace Moscow as much as it likes—but in the world of energy, words alone are never enough.

Oleg Artyukov 1 days ago

US will limit number of refugees to 7,500 and give priority to white South Africans

Low number represents a dramatic drop after US previously allowed in hundreds of thousands of people fleeing war and persecution

Maya Yang and agency 1 days ago

Technology

GOP Plan Could Strip 1.7 Million Americans of Food Stamps

GOP Congressman Randy Fine says he is preparing a bill to ban all non-citizens from receiving welfare, including food stamps, a sweeping proposal that would instantly put more than 1.7 million people at risk of losing Supplemental Nutrition Assistance Program benefits. The threat lands as the federal shutdown grinds toward the one-month mark, raising the prospect that November SNAP payments may not go out at all. In a post on X, Fine wrote, “I am going to introduce a bill to ban all non-citizens from any form of welfare. No Food Stamps. No Section 8 housing. No Medicaid. No Cash Assistance. Not one penny. Not one. If you want free stuff, go home.” The congressman did not release bill text, committee referrals, or a timeline for introduction, but the message was unmistakable, a maximalist cut pitched in the middle of a shutdown that has already put tens of millions of households on edge. An analysis from the Economic Policy Innovation Center estimates that 1.764 million non-citizens received SNAP in fiscal year 2023, at a cost of about 5.7 billion dollars, a figure derived from U.S. Department of Agriculture data. If Fine’s plan became law, that entire cohort could be pushed off the program. Reports also note that the target population represents only a fraction of overall SNAP enrollment. The U.S. Department of Agriculture has indicated that it will not use its $5 billion contingency fund to cover November SNAP benefits during the shutdown, a decision that could interrupt aid for more than 41 million people. The shutdown is now approaching 30 days, compounding the stress for families who rely on EBT cards to buy groceries. Eligibility rules for immigrants are already complex. SNAP benefits are not available to undocumented non-citizens, and access for lawfully present immigrants depends on specific categories, income tests, and in many cases a five-year bar. Refugees and asylees have historically had bigger access, though policy shifts in 2025 have tightened certain pathways. In practice, mixed-status families often receive prorated housing support under Section 8 rules, and non-qualified immigrants are generally limited to emergency Medicaid. Despite heated rhetoric, immigrant participation lags behind that of U.S.-born households. The Migration Policy Institute has found that among eligible families, participation rates are lower for immigrants than for the native-born, and researchers have repeatedly documented barriers ranging from fear and confusion to administrative hurdles. Julia Gelatt of MPI has said that “years of evidence point to the fact that non-citizens use SNAP at lower rates than U.S. citizens.” Fine has recently floated other high-profile moves, including a bill to bar people with foreign citizenship from serving in Congress, arguing that lawmakers should have undivided allegiance to the United States. Supporters frame his welfare proposal as common sense, while critics call it collective punishment that would hit working families and U.S. citizen children in mixed-status households. With no bill text yet and Congress consumed by the funding standoff, the next step is procedural, but the political fight is already here and millions of dinner tables are caught in the crossfire.

Frank Yemi 1 days ago

Technology

Health Ministry plans to utilize MahamaCares for the training of additional specialist doctors

The Ministry of Health has declared that a portion of the Ghana Medical Trust Fund, commonly referred to as the Mahama Cares initiative, will be allocated to finance the training of medical specialists from the Colleges of Physicians and Surgeons. During the Public Accounts Committee Sitting on Thursday, October 30, 2025, the sector minister, Kwabena Mintah Akandoh, stated that this support will assist in addressing Ghana’s increasing demand for specialist doctors and enhance access to advanced healthcare throughout the regions. “Fortunately, we have secured a form of funding from the Ghana Medical Trust Fund. The Mahama Cares initiative is focused on financing non-communicable diseases. “We are in communication with the college, and they have indicated that there exists a significant gap in specialists who treat that specific disease,” the minister remarked. Over the years, physicians have been forced to move to other regions for training due to the scarcity of accredited centers nationwide. This has resulted in service gaps in the regions they vacate, as many are hesitant to return after completing their training. In response, next year the training will be decentralized beyond Accra and Kumasi to incorporate centers in Hohoe, Wa, and Bolgatanga until every region has a center.

Francis Ahorlu 1 days ago

Technology

Kim Kardashian drops wild take, says Moon landing was fake, cites TikTok evidence

Global Desk Kim Kardashian is once again capturing the online attention, but this time, it’s not because of a red carpet appearance or beauty launch. Instead, the 45-year-old reality star has gone viral for questioning one of the most celebrated moments in contemporary history, the 1969 lunar landing.Conversation That Started It AllIn the October 30 episode of The Kardashians, Kim astonished her co-star Sarah Paulson with her confession. The star stated that she doesn’t believe humans ever landed on the moon. “I’m sending you, so far, a million articles with both Buzz Aldrin and... the other one,” Kim cited to Paulson in a filming of their Hulu project All’s Fair, referencing to astronaut Neil Armstrong.Sarah Paulson’s Shocked ReactionPaulson, 50, encouraged her to continue, stating, “Yes, do it,” as Kim confidently claimed she had come across videos suggesting astronauts themselves have hinted the mission was staged. “This girl asks [Buzz Aldrin], ‘What was the scariest moment?’ And he goes, ‘There was no scary moment, cause it didn’t happen,’” Kim cited with conviction. “He’s older now, so he slips up. So I think it didn’t happen.”Later, in a confessional interview, Kim disclosed that she often sends Paulson conspiracy theories for discussion. When a producer asked if she truly believed the moon landing was faked, Kim stood by her views: “I don’t think we did. I think it was fake.”Kim went on to outline the causes behind her belief. As per her, “The flag is blowing, but there’s no gravity. The shoes in the museum don’t match the footprints in the photos. And why are there no stars?”Live EventsDismissing the BacklashWhen questioned what she’d say to people who might think she’s lost touch with reality, Kim appeared unbothered. “They’re gonna say I’m crazy no matter what. But like… go to TikTok. See for yourself.”Fans and Scientists RespondKim’s remarks rapidly exploded in social media, fueling a wave of memes,discussions , and disbelief. While some fans dismissed her comments as playful curiosity, others criticized her for promoting misinformation. Experts, meanwhile, remain to affirm that the 1969 Apollo 11 mission featuring Neil Armstrong, Buzz Aldrin, and Michael Collins continues to be one of humanity’s most verified achievements.FAQs:Q1. Who is Kim Kardashian? Kim Kardashian is a reality TV personality, entrepreneur, and media person. She rose to fame through Keeping Up with the Kardashians and currently stars in The Kardashians on Hulu.Q2. What did Kim Kardashian say about the moon landing? Kim states she doesn’t believe the 1969 moon landing really happened. She discussed her theory with Sarah Paulson in an episode of The Kardashians.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onApollo 11 missionKim Kardashian moon landing claimmoon landing conspiracyThe Kardashians HuluNeil Armstrong moon landing debateBuzz Aldrin commentsKim Kardashian controversyTikTok conspiracy theoriesSarah Paulson reactioncelebrity conspiracy theories (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onApollo 11 missionKim Kardashian moon landing claimmoon landing conspiracyThe Kardashians HuluNeil Armstrong moon landing debateBuzz Aldrin commentsKim Kardashian controversyTikTok conspiracy theoriesSarah Paulson reactioncelebrity conspiracy theories(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless

Sectionskim Kardashian 1 days ago

Technology

Chainlink's LINK Drops 8% Below Support Despite Largest Token Buyback Since August

Native token of oracle network Chainlink LINK$16.52 plunged through critical support levels on Thursday as institutional selling dominated the session. The token declined 8% from $18.39 to $16.92 over the past 24 hours, falling below a descending trendline that contained recent price action, CoinDesk research's market insight tool showed. Trading volume surged to 3.94 million units during the initial breakdown, nearly double the average. Recent hourly data shows LINK trapped below $17 in a narrow consolidation range. Multiple attempts to reclaim the $17 psychological level failed as trading activity dropped 58% below session peaks. The compression suggests institutional buyers remain absent despite oversold technical conditions developing. On the news front, real-world asset protocol Ondo Finance named Chainlink the provider of price feeds for over 100 tokenized stocks and ETFs. The service includes streaming data about corporate actions like dividend payments to ensure accurate valuations across multiple blockchains. The partnership also involves Chainlink's Cross-Chain Interoperability Protocol (CCIP) and collaborations through the Ondo Global Market Alliance. The Chainlink Reserve, which uses protocol revenue from partnerships and services to purchase tokens on the open market, added another 64,445 LINK to its stash on Thursday. That's the largest nominal acquisition since early August, when the reserve started. It now holds $11 million worth of LINK. What traders should watch: Support/Resistance: Immediate resistance at $17.00 psychological level, stronger resistance at $18.20 from failed recovery attempt.Volume Analysis: Exceptional 3.94 million unit volume during breakdown confirmed institutional selling.Chart Patterns: Descending trendline break triggered accelerated selling through multiple support zones.Targets & Risk: Next support target $16.50 zone, potential deeper correction toward $16.00 if consolidation fails. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

CD Analytics,Krisztian Sandor 1 days ago

Technology

Why eBay Stock Sank Today

Shares of eBay (EBAY 14.95%) declined on Thursday after the online marketplace operator's profit forecast fell short of investors' expectations. As of 1:55 p.m. ET, eBay's stock price was down more than 14%. Solid sales and cash flow growth eBay's third-quarter revenue rose by 9% year over year to $2.8 billion. The e-commerce company's gross merchandise volume (GMV) -- the total value of all merchandise sold on its marketplaces -- increased by 10% to $20.1 billion. eBay earns revenue from its GMV from the fees it charges sellers. eBay is integrating artificial intelligence (AI) features into its platform to facilitate transactions between buyers and sellers. The company recently unveiled a new AI-powered messaging tool and other tech upgrades to help sellers grow their sales and profits. "We're transforming the eBay experience through AI built on 30 years of unique insights, while enhancing trusted programs in shipping, live commerce, and circular fashion," CEO Jamie Iannone said in a press release. Moreover, eBay's asset-light business model remains highly profitable. The marketplace provider produced $803 million in free cash flow from continuing operations during the third quarter. That enabled eBay to return $757 million to shareholders via dividends and stock buybacks. Tariffs could slow eBay's growth Investors, however, appeared to focus more on eBay's business outlook. Management guided for adjusted earnings per share of $1.31 to $1.36 in the fourth quarter. That was below analysts' estimates of $1.39. During eBay's earnings call, CFO Peggy Alford said the suspension of the de minimis exemption for imports under $800 for tariffs in late August began to negatively impact transaction volumes in September.

Joe Tenebruso 1 days ago

Technology

ECB holds rates steady as economy shows resilience

BRUSSELS: The European Central Bank left interest rates unchanged for a third meeting, with inflation in check and the economy continuing to grow.The deposit rate was kept at 2% on Thursday - as predicted by all analysts in a Bloomberg survey. Policymakers continued to offer no guidance on future steps, stressing that they'll act one meeting at a time based on incoming data."The robust labour market, solid private sector balance sheets and the Governing Council's past interest-rate cuts remain important sources of resilience," the ECB said in a statement. "However, the outlook is still uncertain, owing particularly to ongoing global trade disputes and geopolitical tensions."The decision did little to move markets. The euro held onto earlier losses, trading down 0.4% at $1.1554, while two-year German yields remained three basis points higher at about 2%. Swap markets continue to suggest the ECB's campaign of cuts is likely over.Officials have been vocal of late in signalling that there's little reason to add to the eight reductions in borrowing costs they've made to date. Their confidence stems from inflation that's been hovering around the 2% goal for months and indications that the economic damage from Donald Trump's trade measures has been relatively contained.Live EventsThat stance contrasts with that of the Federal Reserve, which lowered US rates for a second meeting on Wednesday, citing slowing jobs gains.President Christine Lagarde will elaborate on the ECB's decision at a 2:45 p.m. press conference in Florence, Italy.The announcement comes on a busy day of economic news, with data earlier showing gross domestic product in the 20-nation euro zone rose more than expected in the third quarter. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onecbinterest ratesdonald trumpeurochristine lagarde (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onecbinterest ratesdonald trumpeurochristine lagarde(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless Explore More Stories123

Martin Shwenk Leade 1 days ago

UN leaders condemn ‘horrifying’ mass killings in Sudan

Emergency security council session criticises killings of civilians in El Fasher and external supply of arms to RSF

Patrick Wintour Diplomatic editor 1 days ago

Technology

Nobel economist lays out '3 types of lasting damage' from Trump's economic 'rampage'

When Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent are interviewed by friendly media outlets, they typically argue that President Donald Trump's steep new tariffs will create enormous prosperity in the United States. But liberal economist Paul Krugman has a very different view. In a Substack column posted on October 30, Krugman warns that even if Trump abandoned his protectionist trade policy, the U.S. economy would suffer long-lasting damage. "A little over six months ago," Krugman explains, "Donald Trump shocked the world by announcing a huge jump in tariffs to levels not seen since the 1930s. Most of these tariffs were clearly illegal and have been so ruled by lower courts — but it's anyone's guess how an extremely submissive Supreme Court will rule. Since then, he has backed off some tariffs but imposed others, some on bizarre grounds — a Canadian province ran an ad he didn't like! — creating constant uncertainty." Krugman goes on to identify "three types of economic damage" that "Trump's chaotic tariff policies" have inflicted: (1) "higher prices for American producers and consumers," (2) "economic uncertainty," and (3) "the global loss of American credibility." "Even if the worst in terms of prices and uncertainty is over," Krugman argues, "it's clear that Trump's tariffs have inflicted lasting damage on the U.S. economy as well as the global economic order." During the United States' 2024 presidential race, Trump attacked then-President Joe Biden and then-Vice President Kamala Harris relentlessly on inflation — which he promised to lower "on Day 1" if he returned to the White House. But Krugman laments that prices are going up, not down, during Trump's second presidency. "Inflation has accelerated since Donald Trump went on his tariff rampage," the liberal economist warns. "Late last year, before Liberation Day and all that, professional forecasters expected 'core' consumer prices — which exclude volatile food and energy prices — to rise 2.4 percent over the course of 2025. The latest official reading, and the last we may get for a while, put core inflation at 3 percent. More direct evidence comes from the Pricing Lab, which relies on retail prices posted online — something we need to do while the shutdown lasts, and maybe afterwards if Trump corrupts the official statistics." Krugman continues, "I've used their data before. They show a significant bump in the prices of imported goods, especially compared with their declining trend BT (before Trump). In a new paper, the Pricing Lab analyzes its data and estimates that the Trump tariffs have raised overall consumer prices by 0.7 percent." Paul Krugman's full Substack column is available at this link.

Alex Henderson 1 days ago

Technology

Is your carry-on putting flights at risk? United flight turns back mid-Atlantic after passenger’s lithium-ion laptop slips into inaccessible cargo area

united airlines A United Airlines transatlantic flight bound for Rome made an unusual U-turn and returned to Washington Dulles Airport on Oct. 15 after a passenger’s laptop fell through a gap in the cabin wall and into a portion of the aircraft’s cargo area that the crew could not access, according to air-traffic recordings and airline tracking data. The lithium-ion laptop posed a safety risk to passengers after it fell near a sensitive section of the aircraft.“We have a minor situation here with a passenger who has somehow dropped a laptop that was on … down the sidewall into the cargo pit area of the airplane,” one of the pilots told Air Traffic Control (ATC) when they were notified.Flightradar data indicates that less than an hour into its eight-hour journey on October 15, a United Airlines Boeing 767-400ER executed an unexpected U-turn just off the coast of Boston.“Unfortunately, we’ll need clearance to return to Dulles,” one of the pilots informed Air Traffic Control just before the flight was set to cross the Atlantic Ocean.In the discussion with ATC, the pilots noted that the laptop had been powered on when it fell, and they were uncertain how long its battery would continue running.Live Events“We don’t know the status of it. We can’t access it. We can’t see it. So our decision is to return to Dulles and find this laptop before we can continue over the ocean,” the pilot added.Rather than declaring an emergency, the pilots informed ATC that the situation was purely a precautionary measure.“You know, due to the lithium battery in the cargo area, where it’s actually even … not even near the suppression system that we have for, you know, fires down there. So this is just a safety precaution.”After receiving clearance from ATC to reroute, the aircraft returned to Dulles Airport, landing at 12:35 am, more than two hours after departing for Rome.The laptop was eventually recovered, allowing the plane to refuel and depart again at 3:25 am. The pilots were commended for prioritizing passenger safety, though the flight arrived in Rome roughly five hours later than scheduled.Reflecting on the unusual incident, one ATC controller remarked to the crew, “I’ve never heard anything like that before. Good story to tell at the pilot lounge.” The pilot responded, noting, “That’s a first for me.”Lithium-ion batteries, which power devices such as laptops and smartphones, can pose risks to aircraft if damaged or overheated. As a result, airports and airlines have implemented stricter safety measures, including restrictions on placing such batteries in checked luggage.FAA data shows that lithium battery incidents have been steadily increasing, with the US reporting more than 50 cases just this year.Earlier this month, an Air China flight headed to Seoul had to make an emergency landing in Shanghai after a lithium battery in a passenger’s carry-on caught fire. Reports indicate that the flight crew successfully managed the situation, and no injuries were reported.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onUnited Airlinestransatlantic flight returnair traffic control incidentairline safety measuresatlantic oceanboeingpassenger safety precautions (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onUnited Airlinestransatlantic flight returnair traffic control incidentairline safety measuresatlantic oceanboeingpassenger safety precautions(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123

Manu Kaushik 1 days ago

Technology

OpenAI thought to be preparing for $1tn stock market float

ChatGPT developer is considering filing for an IPO by the second half of 2026, according to reports

Alex Daniel 1 days ago

Technology

FIA investigates Ex-FBR Chief Shabbar Zaidi Over Rs16 Billion Refund Controversy

KARACHI – Federal Investigation Agency (FIA) filed a case against former Federal Board of Revenue (FBR) Chairman Shabbar Zaidi over allegations of misuse of authority. According to FIA’s Anti-Corruption Circle, Zaidi allegedly unlawfully released Rs16 billion to banks and companies that were his clients during his tenure from May 10, 2019, to January 6, 2020. The case states that he, along with other officials, misused his position by issuing unauthorized refunds to these companies. The investigation will be led by Assistant Director Nand Lal. Zaidi is a Pakistani chartered accountant and former Chairman of the Federal Board of Revenue (2019–2020). He has held leadership roles in the Institute of Chartered Accountants of Pakistan and the South Asian Federation of Accountants, and served as a partner at PwC Pakistan. He also authored books on Pakistan’s economy and governance and is actively involved in non-profit and educational initiatives, including SIUT and KSBL. He currently appears as an economic analyst on Pakistani television.

Web Desk lahore 1 days ago

Technology

India regulator bars Gretex from merchant banking for 21 days over IPO lapse

India’s markets regulator on Thursday barred Gretex Corporate Services Ltd from taking on new merchant banking assignments for 21 days with immediate effect, citing lapses in due diligence during the public listing of small firm Jayant Infratech Ltd. The Securities and Exchange Board of India (SEBI) said Gretex failed to verify and disclose that nearly 40% of the IPO proceeds were proposed to be used as a deposit for renting an office premises that was still under construction. The firm relied solely on a site visit and did not obtain supporting documents such as a completion or occupancy certificate, SEBI added. Gretex did not immediately respond to a request for comment outside office hours. India has seen a surge in IPOs from small and medium-sized enterprises (SMEs) with annual turnover between 50 million and 2.5 billion rupees, prompting tighter regulatory scrutiny to protect investors. SEBI said Gretex’s “perfunctory” due diligence misled investors about the use of IPO proceeds and breached disclosure norms. It also noted that the firm failed to maintain the required minimum net worth of 50 million rupees in 2019–20, violating merchant banking regulations. While Gretex later took corrective action to restore its net worth, SEBI said the failure to disclose was a “substantive lapse” warranting regulatory action.

Reuters 1 days ago

Technology

Here's Why Indivior Stock Soared 15% Today

Shares in Indivior Plc (INDV +13.79%) were up by 15.5% at 1 p.m. ET today after management released an excellent set of third-quarter results, upgraded its full-year guidance, and served notice that its "Indivior Action Agenda" three-phase plan is generating momentum as the profitable and cash-generative company grows sales of its key prescription medication Sublocade. Indivior goes for growth According to Indivior, Sublocade is "indicated for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already being treated with buprenorphine." Sublocade contains buprenorphine, but its delivery system offers a monthly dosage compared to the daily dosage regimen of buprenorphine -- something that can be a significant benefit for opioid use disorder sufferers. It's Indivior's key medication, and a key part of the pharmaceutical company's three-phase plan is to grow sales in the U.S. This is being achieved by increasing U.S. Sublocade sales by 7% in the first nine months of 2025 compared to the same period in 2024. Moreover, management updated its full-year guidance for total Sublocade sales to $825 million to $845 million, compared to previous guidance for $765 million to $785 million. Phase 2 and phase 3 Management is also aiming for $150 million in annual expense savings in 2026 through restructuring and consolidating its operating footprint, while engaging in the second phase (accelerating Sublocade revenue growth in the U.S. and converting it into earnings and cash flow generation) before moving on to the third phase (using the improved financial profile to generate growth through acquisitions). While the uniqueness of the "action agenda" is debatable, the progress made by the company is not, and if it can maintain the sales momentum established in 2025, the future looks bright.

Lee Samaha 1 days ago