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US Budget Deficit Hits $2 Trillion in 2026
The US budget deficit widened sharply in the fiscal year ended in September 2026, rising 12% to $1,992 billion — nearly $2 trillion — as refunded tariff revenue and surging interest payments on the national debt overwhelmed record federal revenues. The figures, published by the US Treasury on October 16, leave the deficit at about…
2027 Social Security Changes: COLA, Tax Cap and the 2032 Funding Question
The 2027 Social Security changes are now official, and they reach into almost every American paycheck and retirement budget. The Social Security Administration has confirmed a 3.6% cost-of-living adjustment for next year, alongside a jump in the payroll tax cap to $192,300. Both moves renew a familiar argument in Washington: can the programme keep paying…
Stock Market Today: Chip Stocks Plunge on AI Funding Worries
The stock market today is firmly in the red as a global rout in chip stocks deepens. Nvidia, AMD and Dell are leading the declines, with selling spreading from the United States across Asia as investors question whether the money behind the artificial-intelligence buildout will keep flowing. It is the kind of session that reminds…
OCBC Drops 5.9% to S$30.30 After Citi Downgrade on October 7
OCBC stock fell 5.9% to S$30.30 on October 7 after Citi downgraded it to sell with a S$27.50 target. The bank shed S$8 billion in market value amid profit-taking and valuation concerns.
CBA Boss Comyn: House Prices Won’t Bottom Until Well Into 2027
CBA CEO Matt Comyn says Australia’s housing market correction is halfway done and will extend well into 2027. National property prices down 5.2% since March peak.
HSBC Stock Rises as Hong Kong Questions Singapore AI Hub Move
Hong Kong Monetary Authority questions HSBC over AI center location in Singapore. HSBC shares rise 0.9% as bank plans 100+ AI hires and UK wealth job cuts.
Citi Tops Global IPO Underwriting, Overtakes Goldman Sachs in 2026
Citigroup takes top spot in global IPO underwriting through September 2026, ahead of Goldman Sachs, after advising on SK Hynix $26.5B and SpaceX $86B listings.
Zelenskyy Escalates Oil Refinery Strikes as Ukraine Disables 51% of Russian Capacity
Ukraine says it has disabled 51% of Russia’s oil refining capacity through long-range strikes. President Zelenskyy vows to escalate attacks on energy infrastructure in response to Moscow’s winter offensive targeting civilians.
AFL Trade Period Kicks Off: Merrett Lands $4M Hawthorn Deal on Day One
Zach Merrett joins Hawthorn on $4M deal as AFL trade period opens. Eight moves done in three days including Lachie Neale to Collingwood and Scott Pendlebury to Gold Coast.