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- Russia issues stark warning: 'Europe has no other choice'
Russian Deputy Prime Minister Alexander Novak warned that Europe will struggle to fully make up for lost gas supply if it keeps cutting Russian volumes, amid instability in the Strait of Hormuz and disrupted production at a Qatari LNG facility that halted after attacks in March. He said the EU's LNG import ban, effective January 1, 2027, makes little sense while supply is tight, and that European consumers would bear the consequences. Novak estimated European gas reserves are about 10% below the average of previous years, and Reuters forecasts storage will reach only about 75–78% of capacity by November, well below the five-year average. Still, Russia supplied about 12 million tonnes of LNG to Europe in the first nine months of 2026, higher than a year earlier, as European buyers rush to purchase and stockpile before the ban. The EU has adopted a roadmap to end Russian gas imports, banning long-term LNG contracts from January 1, 2027 and phasing out pipeline gas during 2027.
- Trump Envoys Push Russian Gas Transit in Ukraine Peace Talks
According to The New York Times, US envoys Steve Witkoff and Jared Kushner urged Ukraine and European allies to consider resuming Russian gas transit through Ukrainian pipelines as an economic element of a peace settlement. The idea faces firm opposition in Europe, especially Germany, where officials argue that reliance on Russian hydrocarbons undermines energy security. Washington argues that restored flows would give the Kremlin a commercial incentive to halt military operations and bring transit revenue for Ukraine's reconstruction, and some officials suggest the US could seek a share of the proceeds. The White House confirmed its proposals include economic incentives for both sides and denied actively discussing a revival of Nord Stream 2, though one source called restarting intact segments the “simplest step”. In Germany, the AfD, polling near 30 percent, has campaigned for cheap Russian gas imports, while European officials warn restored flows would undermine sanctions and generate billions for Moscow's defense industry.
- Victorian Opposition Vows to Scrap Labor Gas Appliance Ban Within 100 Days of Election Win
Victoria's Liberal-National opposition, led by Jess Wilson, pledges to scrap Labor's gas appliance ban within its first 100 days in office if it wins the upcoming state election, arguing the rules raise housing costs and energy bills. Under current rules, new homes and most commercial buildings must be all-electric from 1 January 2027, and domestic hot water systems that need replacing must switch to electric units from 1 March 2027, although gas stoves and heating systems can still be replaced with gas equivalents. The opposition says the ban adds up to $15,000 to new-home costs, while modelling by the Australian Gas Infrastructure Group projects annual gas distribution bills for households rising by $142 to $267 as demand falls. Energy Minister Jaclyn Symes defends the policy as a way to lower power bills and reserve gas for industry, pointing to a $140 discount on induction cooktops and subsidies for reverse-cycle air conditioners. Business groups and gas network operators warn that rapid disconnections could strand infrastructure and push costs onto remaining customers.
- After a Project Generating Over 25 Billion USD, Malaysia's Petronas Offers 'Liquid Gold' Supply and Technology Transfer to Vietnam
On October 16, Prime Minister Lê Minh Hưng met Tengku Muhammad Taufik, Chairman and CEO of Petronas, during a Petronas delegation visit to Vietnam. Petronas proposed working with Petrovietnam and domestic firms to develop LNG infrastructure, supply LNG under long-term contracts, and cooperate on offshore wind, hydrogen, carbon capture and storage, technology transfer, and the Vietnam-Malaysia-Singapore power grid link. The government supports Petronas expanding investment and signing new petroleum contracts for open blocks on Vietnam's continental shelf, and welcomed the Strategic Alliance Agreement (SAA) between Petronas and Petrovietnam. The Prime Minister cited Block PM3-CAA, first signed on February 16, 1989, which has produced a cumulative 250 million barrels of oil and 43 billion m³ of gas, with total revenue of over 25 billion USD. He asked both sides to quickly put a joint coordination mechanism into operation.
- UK fuel supplies to be severely disrupted as offshore workers strike
- Britain's biggest warship HMS Prince of Wales sets sail for the North Atlantic
HMS Prince of Wales, the UK's largest warship, left Portsmouth on Sunday to lead the UK Carrier Strike Group on a deployment to the Arctic and North Atlantic, marking phase two of Operation Firecrest, focused on readiness, training and NATO interoperability. It sails with the Type-45 destroyer HMS Dauntless and carries an air group of F-35 jets, Merlin and Wildcat helicopters and Malloy drones. The Royal Navy says more than 1,200 British personnel are deployed, working with Norway, Denmark and Germany. The UK government says the deployment will help keep key energy, trade and communication links in the region secure, and the carrier will host military and political leaders in Oslo to discuss Northern European security.
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- Meta Earnings: What To Look For From META
Meta Platforms (NASDAQ:META) will report earnings this Wednesday after the market closes. Last quarter, revenue reached $60.8 billion, up 28% year on year and above analysts' expectations, though revenue guidance for next quarter slightly missed forecasts; daily active users hit 3.6 billion, up 3.4%. The market expects revenue growth of 23.6% this quarter, slowing from 26.2% a year earlier, and analysts have generally reconfirmed their estimates over the past 30 days. Over the last month, consumer internet stocks have gained 1.3% on average, while Meta is down 4.8%.
- An AI bust could come from places investors arent watching , an economist says
Concerns about an AI bubble are growing, and TS Lombard's Dario Perkins warns that investors may be overlooking other risks. Debt among smaller cloud providers, model developers and suppliers could reach $2 trillion by the end of 2027. Perkins does not see this as a systemic risk, but warns that earnings disappointments and canceled orders could ripple through the ecosystem, and that a chip glut could follow over-ordering. Much of the industry's revenue growth still comes from spending within the AI ecosystem rather than from businesses and consumers outside it. He also flags political backlash, noting that ordinary people dislike AI and nearby datacenters, and warns that one high-profile accident could turn AI toxic.
- Yen jumps after JGB auction draws big demand , euro finds relief
The yen rose 0.2% to 158.15 per dollar in Asian trading after a 20-year Japanese government bond auction drew bids of 5.84 times the amount sold, well above the 4.01 times at the previous auction, and the yield fell 6 basis points to 3.71%. A State Street strategist said the record demand suggests sidelined cash is returning and that JGBs are becoming a relative haven from political and fiscal volatility in Europe, particularly France. Anti-government protests in France prompted curfews in several cities, while Italy said it would send 500 troops after two days of unrest, and the euro rallied 0.2% to $1.1234. Elsewhere, bitcoin slipped 0.3% to $81,674.25 and ether edged down 0.2% to $2,393.21.
- Unemployment rate dips to 4 . 7 % - but vacancies hit five - year low
Vacancies fell by 21,000 to 691,000 in the three months to September, the biggest drop since the three months to March and the lowest since July to September 2014 outside the pandemic, while unemployment dipped in the three months to August. Payroll numbers were down 66,000 over the year to September. The ONS said the fall was mainly among smaller firms struggling with higher labour costs, following rises in employer national insurance, the minimum wage and workers' rights. A CBI survey found labour costs and regulations were making it harder to create jobs, and firms urged the Chancellor not to add to their burden in the October 28 Budget. ICAEW's Suren Thiru said the labour market is 'running on idle' and unemployment could climb above 5 per cent, while Shadow Chancellor Andrew Griffith blamed Labour's 'Jobs Tax' and red tape.
- CNBC Daily Open: Tech rebounds in the U.S., but Asia isn’t buying it yet
U.S. tech stocks rebounded as the Nasdaq Composite rose more than 1% on Monday, with Nvidia up 1.4% and Tesla up 3.8%. In Asia, however, tech shares fell on Tuesday, with South Korea's Kospi down over 4% and Japan's Nikkei 225 down 1.6%. Nvidia also unveiled plans to back four German AI startups as part of its nearly $10 billion European investment commitment. Jenny Lee of Granite Asia said Asian companies are reaching IPOs much sooner, often at four to five years old, while Jio Platforms' Indian IPO saw its anchor investor quota oversubscribed more than 30 times, aiming to raise up to 302 billion rupees ($3.2 billion). In Singapore, several agricultural stocks fell after Senior Minister K Shanmugam warned that companies would not escape responsibility for possible roles in the haze, noting seven firms had been questioned by the Singapore Exchange.
- NiSource (NI) Stock Looks Overvalued Against Its Dividend Outlook
NiSource has nearly doubled shareholders' money over the past five years, delivering a 97.6% total return, which raises the question of whether dividends can justify the current share price. The article highlights a new 20-year energy agreement with Microsoft, including customer-funded grid upgrades and long-term electric service for data centers, which may affect future capital needs and cash-flow visibility. Using a Dividend Discount Model with inputs of about $1.35 dividend per share, roughly 9.07% return on equity, a payout ratio slightly above 61%, and implied dividend growth of about 3.5%, the estimated intrinsic value sits meaningfully below the current share price of $41.95. The model still does not bridge that gap, suggesting income investors are paying a premium for a relatively steady payout with modest assumed growth.
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