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Scott Bessent dismisses US recession fears after shutdown. The US Treasury Secretary said the 43-day government closure caused an $11 billion loss but posed no broad economic risk, citing easing inflation, lower energy prices and planned tax cuts as supports for growth heading into 2026.
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US employers added more jobs than expected in September. The 119,000 payroll gain came alongside a rise in unemployment to 4.4 percent, signalling a labour market that remains steady but not overheating. For the Federal Reserve, the figures strengthen the case for patience before adjusting interest rates.
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Nvidia’s upbeat third-quarter ahead of US jobs data eases AI-valuation concerns. The company’s latest results offered a welcome reprieve for investors worried about overheating in the artificial intelligence sector, lifting global markets and restoring short-term confidence in the strength of the AI trade.
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President insisted the US requires a single federal AI standard. He warned that competing state rules could stifle innovation and allow China to overtake the US in the global AI race.
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Tesla shareholders approved a record-breaking pay plan for Elon Musk. The $1 trillion performance-based package ties his reward to growth and valuation milestones through 2035, reviving a 2018 plan struck down by a Delaware court and underscoring investor faith in his leadership despite governance concerns.
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China’s October exports fell 1.1% as U.S. tariffs dampened demand. Japan faces its first contraction in six quarters, and Washington has moved to block Nvidia’s AI chip sales to China — three fronts of tightening pressure across Asia’s trade and technology corridors.
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Trump announces new US–Uzbekistan trade and investment deal. The agreement, unveiled in Washington during a summit with Central Asian leaders, forms part of a wider US effort to deepen influence in the region’s critical industries and expand commercial links across energy, aviation, and technology.
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US justices questioned Trump’s emergency tariff powers. In a closely watched hearing, the Supreme Court appeared sceptical of claims that the president can use emergency authority to impose sweeping global tariffs, raising doubts over one of Trump’s key trade pillars.
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US initial jobless claims fell to 219,000 this week, easing slightly. The decline suggests the labour market remains resilient amid uncertainty over growth and Federal Reserve policy, though economists caution that underlying hiring momentum remains subdued and structural pressures may be building across key sectors.
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Nvidia will supply more than 260,000 of its new Blackwell AI processors to South Korea. The company is also in talks with Samsung Electronics to secure next-generation HBM4 memory for its data-centre chips, marking a deepening alliance with the country’s tech sector.
