Chancellor of the Exchequer John Healey wants to help British voters with the cost of living while staying within the limits of his country’s stretched public finances. To square this circle, he’s planning a series of strictly short-term giveaways — and hoping the war in Iran comes to an end.

At the budget on Oct. 28, Healey is due to unveil more support for energy costs this winter, including through an existing policy called the warm homes discount. The extra spending will leave his key fiscal target largely unaffected, however, because it will expire before 2029-30 when the government’s main budget rule bites, according to people familiar with the matter who requested anonymity discussing government plans. (BBG – Continue Reading)

Saudi Crown Prince Mohammed bin Salman started the year on a high note. He had just visited the White House where he was embraced by President Trump. Even after the war with Iran kicked off, Saudi Arabia looked relatively well positioned. It could export oil through a pipeline that bypassed the blocked Strait of Hormuz.

But the Saudis’ escalating fight with Iran-backed Houthi militants in neighbouring Yemen now poses new challenges to the kingdom’s security and the crown prince’s ambitious but already struggling plans to transform the country’s oil-dependent economy.

On Saturday, at least one Houthi missile slammed into the Saudi capital’s international airport, killing at least 13 people and injuring hundreds more, many seriously. It was the single deadliest attack on the U.S. or its Gulf allies in the conflicts related to the Iran war. A 28-year-old Egyptian flight attendant bled to death after her arm was blown off, one of several victims to lose limbs, officials briefed on the attack said. (WSJ – Continue Reading)

Wall Street's biggest banks dominate this week's earnings calendar, offering a test of whether stronger trading and dealmaking can outweigh rising funding costs. As always, investors will look beyond profits for clues about loan demand, deposit competition, and consumer credit.

JPMorgan Chase reports Tuesday, with analysts expecting revenue of roughly $50.1 billion. Goldman Sachs faces a different test: whether equities trading can offset softer fixed-income activity, with projected revenue of $16.8 billion. Citigroup and Wells Fargo complete the day's major banking lineup. Bank of America follows, with attention on its warning of weaker investment banking fees. Morgan Stanley's deal pipeline and wealth management business will also draw scrutiny, while BlackRock adds a perspective on investor appetite through fund flows and assets under management. The AI investment boom gets another check through ASML's incoming results and TSMC's Thursday report, with chipmaking demand, equipment orders and spending plans in focus. (Baha – Continue Reading)