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- New York City Wants a Cut of the Next Quantum Breakthrough
- Anthropic Wants an IPO. New York City Wants It to Slow Down.
- Zohran Mamdani Says Quantum Is Poised to Become a ‘Multi-Trillion Dollar Industry’ and New Yorkers Should ‘Share in That Profit’
New York City Mayor Zohran Mamdani said the city will receive 15% of intellectual property proceeds from the Quantum Fabrication Facility (QFab) being built by New York University (NYU) in Manhattan, along with three seats on the project's Executive Advisory Board. NYU is contributing $255 million of the $284 million total, while the city will award $29.2 million, and the lab is expected to open in 2030. A city statement estimates quantum technology could generate up to $2.7 trillion in economic value by 2035. The article also notes the Trump administration has made government equity stakes a recurring tool, holding 9.9% of Intel Corp. and committing $2 billion to nine quantum computing companies in exchange for equity stakes.
- Zohran Mamdani Says Quantum Is Poised to Become a ‘Multi-Trillion Dollar Industry’ and New Yorkers Should ‘Share in That Profit’
New York City will receive a 15% share of intellectual property proceeds from NYU's Quantum Fabrication Facility (QFab), plus three seats on its Executive Advisory Board. The city is awarding NYU $29.2 million to help build the lab, which NYU is funding with $255 million of the $284 million total, and it is expected to open in 2030. Mayor Zohran Mamdani said quantum is poised to become a multi-trillion dollar industry and that New Yorkers should share in the profit, citing a city estimate of up to $2.7 trillion in economic value by 2035. Separately, Google Quantum AI said it reduced errors on its Willow chip by 40-fold while producing 'magic states', a key bottleneck, though the technique still needs to be shown at larger scale.
- Coinbase, which holds 5% of all bitcoin, wants the quantum fix started now
Coinbase, which holds about 5% of all bitcoin in existence for clients including banks, asset managers and hedge funds, says Bitcoin should start preparing now for quantum computers. Google researchers cited in the article say a cryptographically relevant quantum computer could exist by 2029 and could derive private keys from public keys to drain vulnerable wallets. Coinbase recommends flexible post-quantum signatures, staged adoption, reliable implementations, and systems that serve both individual users and institutions using multiparty security. It argues that dormant or late-migrating wallets should be handled separately so they do not delay broader protections. Coinbase notes that Bitcoin consensus changes and ecosystem migrations can take years, so the work must start well before any such machine is announced.
- Southern Glazer’s Wine & Spirits Continues Longstanding Partnership as Exclusive Provider of Wine and Spirits for Food Network New York City Wine & Food Festival presented by Invesco QQQ
Southern Glazer's Wine & Spirits will serve as exclusive provider of wine and spirits for the Food Network New York City Wine & Food Festival for the 19th consecutive year, running October 15–18, 2026, with more than 50 events. Net proceeds benefit Event Zero Foundation and the James Beard Foundation, and the festival has raised more than $15 million for charitable partners since 2007 ($60 million combined with its sister festival, SOBEWFF). The event returns to Pier 17 Rooftop in Lower Manhattan's Seaport neighborhood, with 65 supplier partners and more than 200 featured sponsors and brands taking part. Highlights include Best of the Best on October 16, Tacos & Tequila on October 17, and The Cookout closing the festival on October 18.
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- News Analysis : How West Bank settler violence is testing Israel ahead of elections
Israeli police arrested 10 suspects over violent incidents involving foreigners in the West Bank at the weekend, including attacks on a Washington Post photographer and a European diplomatic delegation. The rare move comes amid growing international alarm over settler attacks on Palestinians. With national elections next week, Prime Minister Benjamin Netanyahu faces demands for accountability while depending on far-right coalition partners such as Itamar Ben-Gvir and Bezalel Smotrich, who back settlement expansion. Britain has imposed an import ban on settlement goods, the Netherlands has banned settlement products, and 12 nations have announced coordinated trade restrictions. Meanwhile, 61 Israeli economists warned that unchecked violence and settlement expansion pose a grave economic risk, and an Israel Democracy Institute survey found nearly two-thirds of Jewish Israelis agree that violence against Palestinians damages Israel’s international legitimacy.
- Corporate earnings reports show how inflation affects consumers
Many U.S. companies are set to release quarterly reports this week that could give a clearer picture of how inflation is affecting businesses and consumers. Inflation is weighing on producer and import prices, which measure rising costs before they reach shoppers. Hasbro, Netflix and General Motors report Tuesday, and analysts expect General Motors' profits to have surged; the same day, the government releases its September new-home construction report, which is expected to show homebuilding edged higher after two months of declines. United Airlines Holdings is expected to report a slimmer profit on Wednesday, as airlines have raised fares but face rising fuel and labor costs. Higher fuel prices, especially diesel for long-haul trucks and freight trains, are also pushing up shipping and warehousing costs. Consumer surveys show households are increasingly worried about inflation's effect on their budgets and their ability to plan for the future.
- Wall Street Ends Mixed : NASDAQ Surges , S & P 500 Rises , Dow Dips
U.S. stocks closed Monday mixed: the NASDAQ Composite jumped 290.85 points (1.11%) to 26,430.89 on a strong technology-driven rally, the S&P 500 rose 31.29 points (0.41%) to 7,690.73, and the Dow Jones Industrial Average slipped 36.38 points (0.07%) to 51,966.03. European markets broadly declined, with the FTSE 100 down 1.08%, the DAX off 1.18% to 25,319.77, and the CAC 40 down 1.11%. In Asia, results were uneven: the Hang Seng gained 0.52% and the KOSPI rose 1.76%, while the IDX Composite plunged 3.64% and the S&P BSE SENSEX fell 1.17%. In the Americas, the S&P/TSX Composite declined 0.69% to 35,928.63.
- RBNZ Governor Anna Breman Warns Misinformation May Weaken Monetary Policy
Reserve Bank of New Zealand (RBNZ) Governor Anna Breman warned that misinformation could distort public beliefs about the economy and weaken monetary policy as central banks work to keep inflation expectations stable. She argued that keeping expectations anchored after a supply shock may reduce the policy tightening needed to contain inflation, limiting costs to output and employment, though policymakers may still need to tighten when warranted. In an unpublished 2026 survey, fewer than 25% of New Zealanders spontaneously mentioned inflation or interest rates when asked about the RBNZ's responsibilities. Breman also raised concerns about AI-generated misinformation, such as deepfake videos and inaccurate search summaries, which make maintaining public trust harder. Stats NZ releases September-quarter inflation data on Oct 22, and the RBNZ's next Official Cash Rate review is set for Oct 28.
- Commentary : Liberty , equality , misery ? Why France is burning
Bloomberg Opinion's Lionel Laurent argues that France's unrest has become regular, following a weekend of rioting that saw looting hit some 1,500 stores nationwide and 500 people detained in Paris alone. Beyond short-term political failures, he points to lopsided public spending: pensioners are the biggest beneficiaries, while spending on security, the courts and education has barely risen as a share of GDP. Surveys suggest the French on average lack €500 a month to comfortably cover their outgoings, and INSEE estimates that a €440 minimum-wage increase would bring only about €100 in extra take-home pay. The French median wage rose 22.8% since 2017, while inflation rose 23.4%. With the 2027 presidential election looming, the column warns the unrest could boost support for far-right leader Marine Le Pen.
- Tech Stocks Power S & P 500 and NASDAQ Higher
Global equities closed Monday with a mixed picture: a tech-led rally on Wall Street contrasted with broad declines in Europe and uneven results in Asia-Pacific. The S&P 500 rose 31.29 points (0.41%) to 7,690.73 and the NASDAQ Composite jumped 290.85 points (1.11%) to 26,430.89, while the Dow Jones Industrial Average slipped 36.38 points (0.07%) to 51,966.03. The CBOE Volatility Index fell 7.76% to 18.44. In Europe, the FTSE 100 dropped 1.08%, the DAX fell 1.18% and the CAC 40 lost 1.11%. In Asia, the KOSPI rose 1.76% and the Hang Seng gained 0.52%, but the Nikkei 225 fell 0.62% and the IDX Composite plunged 3.64%.
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