Economics
Swiss and U.S. officials said they were nearing a deal to cut U.S. tariffs on Swiss goods from 39% to about 15% after Swiss executives met President Donald Trump.
Donald Trump proposed a 50-year mortgage in the U.S. to boost home affordability, which economists said could cut monthly payments but raise long-term costs, and drew conservative criticism.
UK unemployment rose to 5.0% in September, larger than expected, which analysts said was a setback for the government and increased pressure on Chancellor Rachel Reeves ahead of the Budget.
Major investors sold AI-focused stocks amid rising bubble fears, while Amazon Web Services' cloud chief insisted demand remained enormous, leaving global markets sharply divided over AI's outlook.
Germany's Bundesbank proposed a three-stage reform of the debt brake, urging stricter borrowing rules and redirecting fiscal room toward infrastructure and defense priorities.
Austria’s 2025 budget deficit was larger than expected — about 4.9% of GDP — driven by higher state-level deficits and off‑budget spending, jeopardizing the coalition’s fiscal targets.
The German chemical association VCI said the industry had fallen into an exceptional state and urged government relief while demanding cuts to the European emissions trading system.
Carlos Mazón, acting president of the Valencian government, defended his resignation and blamed the national government during a Cortes Valencianas commission on flood management, leaving crucial questions unresolved.
Deutsche Rentenversicherung warned that Germany's statutory pension contributions would rise sharply after pensions were set to increase about 3.7% next year, ending roughly 20 years without a contribution hike.
In Germany, the SPD backed a group of CDU/CSU lawmakers' call to largely abolish Minijobs, saying the low‑paid scheme displaced regular work and risks female poverty.
China allowed exports of Nexperia automotive chips to the EU, easing a supply squeeze that threatened European car production and prompting warnings about Europe’s geopolitical vulnerability.