U.S. nonfarm payrolls likely shrunk by 50,000 roles in October, economists at Goldman Sachs said.

The calculation incorporates the bank's job-growth tracker, which slowed to 50,000 new jobs in October from 85,000 in September, and the government’s deferred-resignation program, which will likely cut payrolls by about 100,000 positions.

That Trump administration program was launched earlier in the year. It allowed thousands of staff to leave the government and keep their paychecks through Sept. 30, the end of the fiscal year. (WSJ – Continue Reading)

American importers say that if the Supreme Court rules that the money they paid for President Donald Trump’s tariffs must be refunded to them, it would be relatively simple to do and not the “mess” that some have claimed it would be.

Importers pointed to U.S. Customs paperwork that clearly details the tariffs they pay on goods brought into the United States.

During oral arguments last Wednesday for a case that will decide the fate of Trump’s tariffs, most Supreme Court justices expressed skepticism that the duties were legal.

But some justices raised questions about what would happen if they ruled Trump did not have the power to impose those tariffs unilaterally. (CNBC – Continue Reading)

Michael Burry, the investor made famous by “The Big Short” who recently roiled the market with a tech short bet, is accusing some of America’s largest technology companies of using aggressive accounting to pad their profits from the artificial intelligence boom.

In a post Monday on X, the Scion Asset Management founder alleged that “hyperscalers” — the major cloud and AI infrastructure providers — are understating depreciation expenses by estimating that chips will have a longer life cycle than is realistic. (CNBC – Continue Reading)

Italy’s equity benchmark surpassed its 2007 peak, becoming the last major European index to reclaim declines triggered by the global financial crisis.

The FTSE MIB Index — home to banks such as UniCredit SpA and defense firm Leonardo SpA — gained as much as 1.1% to 44,372.74 points on Tuesday, rising above a peak of 44,364 points hit in May 2007. The gauge is now trading around the highest level since 2001.

Italian stocks have finally been in favor this year as investors flocked to sectors exposed to the domestic economy in an attempt to escape harsh US tariffs. The FTSE MIB has rallied 30% in 2025, beating the Stoxx Europe 600 Index’s 14% advance. Banks have led the gains amid confidence in the regional economic recovery and a stable outlook for interest rates. (Bloomberg – Continue Reading)