Morgan Stanley tops estimates as equities trading revenue beats expectations by $909 million

Fed rate hike call seen tight as inflation heats up

A Federal Reserve interest-rate decision later this month may be a closer call than previously thought after Labor Department data showed consumer prices were up 3.7 percent last month from a year earlier, well above the Fed's 2 percent target and moving in the wrong direction. Higher gasoline prices from the Middle East war were a main driver. Excluding volatile food and energy prices, the core Consumer Price Index (CPI) was up 2.6 percent, more than the 2.5 percent economists polled by Reuters had projected. The Fed lifted the policy rate in September to a target range of 3.75 percent-4.00 percent to bring down too-high inflation, and officials have said they are looking closely for signs of broadening price pressures that could keep inflation high even if gas prices fall, necessitating more policy tightening. Wednesday's data contained plenty of such signs. "The surprise was not concentrated in any one item, like it was with wireless in the August report, but instead reflected a number of components showing strength, i.e., it was broad-based," wrote Omair Sharif, founder of Inflation

Houthis say targeted Saudi oil giant Aramco, vow more attacks

RIYADH, Saudi Arabia — Yemen's Houthis said Wednesday they had targeted facilities belonging to Saudi Aramco, after Saudi officials reported a strike on a building in an area housing the energy giant's operations centre. Powerful explosions also rattled the Saudi capital, as the coalition fighting the Houthis said it had intercepted a missile fired by the Iran-backed group towards Riyadh. The world's top crude oil exporter has in recent days come under sustained attack, including a strike on Riyadh's international airport that was the deadliest in years, as the war with the Houthis dramatically escalates. It has hit back with strikes against the group's stronghold in the Yemeni capital Sanaa, which for years has been under their grip. Yahya Saree, Houthi military spokesman, said their forces had conducted "a high-quality military operation targeting Aramco in Dhahran," as well as strikes targeting Riyadh airport and a refinery in the capital. He added the attacks were carried out with missiles and drones, and that operations "will continue in the coming days, targeting Saudi enemy airpo

Pope Leo back on his feet after shock cancer diagnosis

VATICAN CITY — Pope Leo's recovery from surgery is progressing as expected and he has begun walking in his hospital room and eating normally, the Vatican said on Wednesday, after doctors announced the 71-year-old pontiff was being treated for lung cancer. World leaders, Catholics across the globe and senior cardinals at the Vatican have offered prayers for Leo after he had part of his right lung removed in an operation on Tuesday. Blood tests and a chest X-ray carried out on Wednesday showed normal post-operative results, the Vatican said, adding that the pontiff had undergone respiratory physiotherapy. The cancer diagnosis for a pope known to be relatively young and energetic and who was elected only in May 2025 caused shock and raised questions about the future shape of his papacy as he deals with the illness. Leo normally follows a very busy schedule. He is due to make a tour of Uruguay, Argentina and Peru from November 6 to 17 and the Vatican press office said on Wednesday that "nothing has changed" regarding the planned trip. However, Peruvian President Keiko Fujimori said on Wedne

India's US oil and gas imports plunged 43% in September as West Asia supplies recovered despite Trump’s push: Report

India’s imports of US crude oil, LNG and LPG fell 43% in September to a five-month low, while supplies from West Asia surged 67%. The shift comes as Gulf exports recover and US President Donald Trump pushes New Delhi to buy more American energy.

'Normal weather' is a thing of the past, the Met Office's chief meteorologist says

Celine Dion immortalised as Barbie doll complete with iconic Titanic look

‘It is a true honour to join the Barbie legacy with a doll inspired by one of the most meaningful moments of my career’ says singer

Parents must ditch phones at dinner for children’s mental health, expert warns

Burnham says he wants to 'repair bridges' between Ukraine and US

It comes as the prime minister meets President Zelensky at Downing Street.

Instagram’s Threads has made an important change – and it could help explain why social media feels different

Meta-owned platform says that it is trying to show more posts that users will actually be interested in

Liverpool led by surprise new captain amid Virgil van Dijk absence and Alisson ruling

Goalkeeper Alisson Becker is technically Liverpool’s vice-captain, but he will not wear the armband when the Reds face LASK in the Champions League

EU ‘satisfied for now’ on AI regulation, says justice commissioner

Europe is ‘satisfied for now’ that it has appropriate regulation in place for artificial intelligence, the justice commissioner has said.

New report of alleged sexual assault at University of Chicago frat house after Cornell 7 ‘gang rape’ case

Woman was ‘not fully conscious’ when friends burst in to find her partially undressed in bathroom with alleged perpetrator, according to report