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- Iran War , Tariffs Drive Inflation Up , Trump Still Blames Biden
President Donald Trump told an Arizona crowd that President Joe Biden is to blame for inflation, hours after the government reported that consumer prices rose again, driven mainly by gas prices. A Financial Times post cited in the piece said US inflation jumped to 3.7% as the Iran war drove up prices.
- Kansas Libertarian Drew Cranmer criticizes Iran war, tariffs and rising costs ahead of midterms: President overstepped his bounds
Drew Cranmer, the Libertarian candidate for Kansas Congressional District 4, spoke with HT.com ahead of the November 3 midterms. He called Flock cameras unconstitutional under the Fourth Amendment and said they need better guardrails, including inspectable audit logs. On ICE, he said federal agents should target lawbreakers and violent criminals rather than restaurant and grocery workers, while supporting limits on immigration alongside easier processes for long-time residents. He called for audits of the Federal Reserve and the Department of Defense, criticized foreign aid and tariffs hurting Kansas farmers and raising diesel costs, and said President Trump had overstepped his bounds. He positioned the Libertarian Party as an alternative and urged voters to put principles above party.
- Holiday toy prices surge as tariffs , war - driven energy costs squeeze shoppers
U.S. consumers face tighter holiday budgets as tariffs and energy costs push prices up. Toy prices rose 6.6% over the past year and 4.2% from August on a seasonally adjusted basis, faster than other consumer categories in the latest CPI report. China makes most toys sold in the U.S., and many are made with fossil-fuel-based plastics, so changing tariff policies and higher oil prices linked to the Middle East war add to costs. David Silverman of Fitch Ratings said the Iran conflict's impact on commodity and shipping costs will persist for several quarters. Basic Fun CEO Jay Foreman said current prices still reflect earlier, higher tariff rates, and that lower tariffs would reduce toy prices over time if other global issues ease.
- Holiday toy prices surge as tariffs , war - driven energy costs squeeze shoppers
Toy prices in the U.S. surged ahead of the holiday season, rising 6.6% over the past year and 4.2% from August on a seasonally adjusted basis, faster than other consumer categories. Causes include tariffs on Chinese goods, since China makes most toys sold in the U.S., and higher oil prices linked to the Middle East war, which raise the cost of fossil-fuel-based plastics and shipping. Tariffs on Chinese goods have fallen from an initial 145% to 30% since May 2025, but a Basic Fun executive says current prices still reflect earlier higher rates and could ease over time if other global issues subside. Mattel and Hasbro have also reported rising costs and margin pressure. A Reuters/Ipsos poll through October 5 found only 21% of voters approved of President Trump's handling of cost-of-living issues.
- Holiday toy prices surge as tariffs , war - driven energy costs squeeze shoppers
U.S. toy prices rose 6.6% over the past year in the latest consumer inflation data, and climbed 4.2% from August on a seasonally adjusted basis. Tariffs and higher energy costs linked to the Middle East war are pushing prices up, since China makes most toys sold in the U.S. and many are made with petroleum-based plastics. Fitch Ratings' David Silverman said the impact of the Iran conflict on commodity and shipping costs will persist for several quarters. Basic Fun CEO Jay Foreman said current prices reflect earlier higher tariff rates, and that lower tariffs would reduce toy prices over time if other global issues subside. Mattel and Hasbro cited inflationary pressures and higher input costs.
- META Q3 deep dive: AI investments drive engagement, legal costs hit margins, Muse launches
Meta Platforms reported third-quarter 2026 revenue of $64.6 billion, up 26.1% year on year and above analyst estimates of $63.35 billion, while adjusted EPS of $7.40 beat estimates by 8.8%. Midpoint revenue guidance for the next quarter is $74.5 billion, above estimates of $73.61 billion. Operating margin fell to 20.1% from 40.1% a year earlier, weighed by a $9.9 billion legal charge tied to a multi-state attorneys general agreement and higher spending on data centers, cloud infrastructure and third-party AI tokens. Management said the Muse personal agent has more than 10 million users in the US and Canada, with about 25% of those who set it up using it on any given day, mainly for shopping. The company plans to expand Muse globally, sell AI services to businesses and shift Reality Labs investment toward AI-powered hardware such as Meta Glasses.
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- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
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