The UK's annual inflation rate unexpectedly increased to 6.7% in September, driven primarily by a 4.3% surge in petrol and diesel prices. The Office for National Statistics reported a corresponding 5.3% rise in transport costs, contributing to a broader cost of living squeeze.
Elon Musk's SpaceX has set a preliminary share price of $135, aiming for a $1.75 trillion valuation in what could be the largest-ever initial public offering (IPO), surpassing Saudi Aramco's 2019 record.
US stock markets experienced a notable decline, with the Nasdaq index seeing its largest single-day drop since April 2025. This sell-off was triggered by a stronger-than-expected US jobs report for April, which fuelled investor concerns that the Federal Reserve would maintain higher interest rates to combat persistent inflation. Concurrently, Donald Trump has proposed the US government acquire public stakes in leading AI firms, aiming for public benefit from technology's success.
