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Irish Taoiseach Micheál Martin says EU governments must quickly decide how to cover Ukraine's budget shortfall through 2028, likely via a pan-European financial injection, and he is open to all funding options. Kyiv's gap next year could reach €70 billion, as Trump has turned against Zelenskiy over Ukrainian strikes on Russian refineries. Martin defended Ireland's contributions and noted that Kyiv is burning through the €90 billion EU loan, backed by €200 billion in frozen Russian central bank assets, faster than anticipated. After an earlier plan to use those assets stalled over Belgian legal concerns, he favours quick, efficient action. Zelenskiy, at the EU summit, called plugging the 2027 gap a key question.
- Deputies to lay fuel duty amendments for Budget debate
Amid near-record oil prices linked to the US war with Iran, Deputy Rob Curgenven will propose keeping current duty on all motor fuels instead of raising it with inflation, citing cost-of-living pressures and GST. Deputy Neil Inder is focusing on 'white diesel', mainly used by commercial vehicles, with a freeze or a 5p-per-litre cut. Curgenven acknowledges his amendment would mean nearly £1m less tax next year than P&R's proposals but says no offset is needed. Petrol and road diesel duty is currently 90.5p per litre, while the Budget proposal would add 3.9p.
- State pensioners under 77 set for £488.80 boost in Andy Burnham Budget
According to Hargreaves Lansdown, new state pensioners under 77 could receive up to about £488 more a year, as the triple lock forecast points to a 3.9% rise from April 2027. The increase is based on average wage growth of 3.9% rather than inflation of 2.9%, with the final figure due at the Budget on October 28. A full new state pension would rise from £241.30 to £250.70 a week, and a full basic state pension from £184.90 to £192.10 a week. New Prime Minister Andy Burnham has confirmed the triple lock will stand for the rest of this Parliament, despite earlier plans to scrap it from 2030. Helen Morrissey of Hargreaves Lansdown says the rise will help but will only cover the basics, urging people to boost pension contributions.
- Iowa fiscal picture improves slightly , but budget deficit remains | Iowa State Legislative News
Iowa's nonpartisan Revenue Estimating Conference projects the state will collect $8.54 billion in revenue in the 2026-27 budget year, $66 million more than its March forecast but still $1.1 billion below planned spending. This is the second straight budget year with a shortfall, largely caused by income tax cuts that took full effect in 2025, and lawmakers are using the Taxpayer Relief Fund to cover the gap until revenue catches up. Jennifer Acton cited persistent inflation, higher borrowing costs and geopolitical uncertainty around gas and diesel prices as ongoing concerns despite positive growth. Kraig Paulsen said the state has no revenue problem and expects growth to continue, and the REC will meet again in December. Republican leaders, including Gov. Kim Reynolds, called the outlook strong and stable, while Democrats Janet Petersen and Megan Srinivas criticized the deficit and said wages are not keeping pace with costs.
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Saudi Arabia has postponed its major annual investor conference until 2027 as Iran-backed Houthi militants escalate missile and drone attacks on the kingdom. The Future Investment Initiative had been scheduled for Riyadh from October 26 to 29. The decision follows a Houthi attack on King Khalid International Airport in Riyadh on October 10, which left at least 12 people dead and more than 300 injured. Organizers said in an email that new dates will be announced soon.
- Russia fires mysterious weapon at Kyiv, shockwaves spread; President Putin appears in rare image, drawing global attention
On the night of 18 Oct, Russia launched a coordinated strike on multiple Ukrainian targets using ballistic missiles, cruise missiles and Geran UAVs, focused on Kyiv. According to TST, around 10 ballistic missiles of the Iskander-M, S-400 or KN-23 types may have been used in the first wave; an above-ground metro station on Kyiv's left bank was reported damaged, disrupting rail and metro services, and videos of blue flashes led observers to suspect a new weapon. In western Ukraine, a 330 kV transformer station near Kovel may have been targeted. Meanwhile, Putin, who rarely appears in military uniform, visited a command post and stressed establishing a “security zone” along the border; blogger Yuri Podolyaka argued Moscow no longer treats these areas as bargaining chips. Front-line correspondent Alexander Kots said the part of Donetsk still controlled by Ukraine is just over 2,700 km².
- Semiconductor Sell-Off: 5 Stocks to Buy on the Dip
The article attributes the semiconductor selloff to investor doubts about the durability of AI infrastructure spending, even as cloud companies report strong demand for AI chips. It highlights five stocks: Nvidia (forward P/E just above 13.5 on fiscal 2028 estimates), Broadcom (custom AI chips, with that revenue expected to quadruple to $230 billion over two years; forward P/E of 11), AMD (riding inference and agentic AI demand), Cerebras Systems (high risk-reward; the company claims 30 times the inference speed of GPUs) and TSMC (forward P/E of 18 on 2027 estimates).
- Tom Lee’s Bitmine Adds $30 Million in Ethereum as Buying Nears Its Finish Line
Bitmine bought another 12,535 ETH (about $30 million), lifting its holdings to 6,041,481 ETH, or 4.9% of supply and 99% of its 5% target. Chairman Tom Lee blamed the crypto selloff on a broad risk-off shift, including AI funding and safety worries, U.S.-Iran tensions, midterm jitters and rising bond yields, and called the dip a historically attractive risk-reward entry. Total holdings reached $15.1 billion as of Oct. 18, including 215 Bitcoin, $582 million in cash and marketable securities, and other investments. About 84% of its ETH (5,067,309 tokens) is staked via its MAVAN platform, with projected annualized revenue of roughly $309 million. The position is currently underwater on paper because much of it was bought at higher prices.
- Opinion: The Most Important Number in Taiwan Semiconductor's Earnings Report Was 68%
The author argues the most important figure in TSMC's Q3 report is 68%, the share of revenue from high-performance computing (HPC), which grew 22% from the prior quarter. Revenue reached $46.72 billion, up 41.2% year over year, net income rose 68.7%, and gross margin hit 66.4%. Processes at 7nm and below made up 79% of wafer revenue, with 3nm at 33% and 2nm at 8%. TSMC guided Q4 revenue to $52.3–54.3 billion and expects roughly 44% full-year growth in U.S. dollars. The author remains bullish, saying ongoing demand for advanced AI chips should keep profits rising.
- Why Meta's Q3 earnings could be a little hard to interpret
Meta is reporting its third-quarter earnings after the market closes Wednesday, and Yahoo Finance's Brian Sozzi says the report will be hard to interpret. Recent good news on Meta's AI products, including new models and an AI agent, may not appear directly in the results but will likely be discussed on the earnings call. The key uncertainty is how investors will react if Meta raises its capex outlook again: it could be seen as fueling those products, or as overspending on offerings not yet reflected in financials. Sozzi expects the market to give Meta the benefit of the doubt on higher capex, as long as the increase does not shock investors.
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