News

Global financial markets may be facing a reality check after this year’s relentless surge, with Goldman Sachs and Morgan Stanley warning investors on October 4 to prepare for a potential market correction over the next two years.

Global Equities Reach Record Levels

Stocks around the world have climbed to record highs, fuelled by AI-related gains and expectations of interest rate cuts. In the past month, major US indexes have reached new peaks, Japan’s Nikkei 225 and South Korea’s Kospi have risen to fresh highs, and China’s Shanghai Composite has hit its strongest level in a decade, helped by...

President of Uzbekistan Shavkat Mirziyoyev addressed the World Summit in Doha, where he proposed the establishment of a Global Social Justice Fund aimed at combating poverty and narrowing inequality across nations.

Mirziyoyev reaffirmed Uzbekistan’s commitment to supporting international efforts for sustainable development and shared details of the country’s recent social reforms. Over the past few years, Uzbekistan has achieved a remarkable reduction in poverty levels from 35% down to 6.6%, he noted.

Key Initiatives for Global Cooperation

In addition to the proposed Global Fund, the president outlined several other key initiatives, including:

Iran’s supreme leader Ayatollah Ali Khamenei has set strict terms for any talks with the United States, saying Washington must end support for Israel and pull its forces from the region before Tehran will consider engagement.

His remarks came a day after a CBS 60 Minutes interview in which US President Donald Trump said he had «blasted the hell out of» Iran, and claimed Tehran now has no nuclear capability.

Iran has pushed back at the comments, while analysts warn the stand-off could harden without a change in tone from either side.

The exchanges follow US strikes...

Kimberly-Clark, the American company behind Kleenex tissues and Huggies nappies, is set to acquire Kenvue, the maker of Tylenol and other household brands in a cash-and-stock deal valued at more than $40 bn (£30.5 bn). The merger would form a global consumer goods powerhouse with some of the most recognisable bathroom and medicine cabinet staples in the world.

Creating a Consumer Health Powerhouse

Kenvue, which also owns brands such as Band-Aid, Zyrtec, Benadryl, Neutrogena and Aveeno, has struggled since its spin-off from Johnson & Johnson in 2023. The separation was intended to give both companies sharper focus, but...

Nintendo has reported a 110% surge in sales between April and September 2025 compared with the same period last year, reaching ¥1.1 trln ($7.26 bn). The company’s net profit rose by 83% to ¥198.9 bn ($1.3 bn), according to its latest financial report.

The impressive results were largely driven by the launch of the Nintendo Switch 2, which sold more than 10 mln units within four months of its June release. Games for the new console also performed strongly, with total sales hitting 20.6 mln copies. Bestsellers included Mario Kart World and Donkey Kong Bananza.

Buoyed by the success of...

From January 1, 2026, Uzbekistan plans to reduce the average cost of 2,600 prescription medicines by 40–50%. President Shavkat Mirziyoyev reviewed new initiatives in the pharmaceutical sector and programmes supporting children with rare diseases.

All state procurement of medicines and medical devices will be conducted through a new electronic platform, farma.xarid.uz, designed to prevent low-quality products and corruption. Only companies with international GMP, ISO:13485 and GDP certifications will be eligible to participate in tenders. The system will provide open information about state purchases, certified producers, and distributors, and automatically ensure procurement prices do not exceed the set reference levels.

Portuguese football star Cristiano Ronaldo posted a photo on Instagram featuring Pierce Morgan’s new book, Woke Is Dead.

Yes, the same Pierce Morgan with whom Ronaldo once gave «the most revealing interview of his life,» an interview that later triggered controversy during his Manchester United career and preceded his move to Saudi Arabia. Now, both figures are back in the spotlight.

Morgan’s book attacks woke culture, cancel culture and what he calls «toxic virtue.» In Woke Is Dead, he argues that the era of extreme political correctness is over: «The world has finally woken up.» With his usual boldness, Morgan...

Saudi Arabia has slowed its ambitious $2 trln Vision 2030 strategy, citing lower oil prices and overspending. The plan, launched in 2016, aims to diversify the economy away from oil towards tourism, technology and entertainment.

Gigaprojects Hit by Financial Reality

Riyadh invested hundreds of billions into mega-developments, including The Line, a proposed 110-mile-long futuristic city. Vision 2030 assumed oil would remain above $100 a barrel, but prices are currently around $60, creating financial strain.

Jerry Inzerillo, an adviser to Crown Prince Mohammed bin Salman, described the adjustments as a “course correction,” noting the kingdom must now spend more...

Bianca Censori has returned to Australia, arriving in Melbourne just ahead of the Melbourne Cup.

The 30-year-old, wife of rapper Kanye West, landed at Melbourne Airport on October 4 morning after a long flight from Los Angeles. She confirmed her ongoing relationship with West by wearing her wedding ring, although he was not with her.

Censori caught attention in a striking outfit: a tight grey top over high-waisted underpants, reflective gold stockings, silver stilettos, a cropped fur jacket, and a black Hermès Birkin bag. She partially shielded her face with a khaki baker-boy cap while navigating the arrivals terminal...

Sydney Sweeney has faced strong criticism online for her German accent in the new film Eden, with some viewers describing it as «terrible» and even «AI-generated.»

The true-life thriller, released in August, follows a group of disillusioned Europeans who move to an uninhabited island in the Galapagos, only to discover that the greatest danger comes from each other.

Role of Margret Wittmer

Sweeney, 28, plays Margret Wittmer, a real German woman who settled on the island in the 1930s with her husband and later chronicled her life in the 1959 book Floreana: A Woman’s Pilgrimage to the Galápagos.

Starbucks announced on November 3 that it will sell control of its China business to investment firm Boyu Capital in a deal valued at $4 bn, marking one of the largest divestments by a global consumer brand in China in recent years.

Boyu to Take 60% Stake in Joint Venture

Under the agreement, Starbucks and Boyu Capital will form a joint venture in which Boyu will hold up to 60% of Starbucks’ retail operations in China. Starbucks will keep a 40% stake and continue to own and license its brand and intellectual property to the new entity, the companies...

A rare update has emerged on Michael Schumacher’s health, with a Formula One insider hinting at signs of improvement more than a decade after the racing icon’s near-fatal skiing accident.

French motorsport journalist Stéfan L’Hermitt of L’Équipe said there were «good signs» surrounding Schumacher’s condition, suggesting possible progress over the past year.

Speaking to Le Grand Récit, L’Hermitt said:

«I would say he’s not doing well, but he might be getting better because fundamentally we don’t know anything.»

He noted that Schumacher’s signature appeared on a helmet for a charity event earlier this year...

From January 2026, Uzbekistan will introduce a 30-day visa-free regime for citizens of the United States, according to a presidential decree signed by President Shavkat Mirziyoyev, state news agency UzA reports.

The measure is aimed at strengthening trade, cultural, humanitarian, and tourism ties between Uzbekistan and the US.

Since 2021, US citizens aged 55 and over have already been able to visit Uzbekistan visa-free for 30 days for tourism purposes. The new policy extends that privilege to all American visitors, marking another step in the country’s efforts to encourage international travel and investment.

According to the National Statistics...

Former EastEnders star and current Celebrity Big Brother contestant Patsy Palmer has spoken openly about her past struggles with addiction, admitting she once smoked cannabis before doing the school run.

Palmer, 52, who recently returned to EastEnders as Bianca Jackson for the soap’s 40th anniversary, reflected on her previous dependence on drugs and alcohol in her autobiography. She revealed she used to chain-smoke strong cannabis, describing moments where she felt «edgy» and «paranoid» while trying to maintain daily routines with her children.

The actress recalled hitting a low point when she skipped professional commitments to stay home watching daytime...

The Bank of England could lower interest rates to 3.75% next week, marking the first move below 4% since January 2023, according to analysts at Goldman Sachs.

The Monetary Policy Committee kept the base rate at 4% last month, but the investment bank now predicts a narrow 5–4 vote in favour of a cut on Thursday — which would be the sixth reduction in just over a year.

Goldman said inflation has cooled faster than expected, citing an unexpected fall in food prices despite headline CPI holding at 3.8%. However, it warned that Chancellor Jeremy Hunt’s 26 November budget...

The 29-metre Torre dei Conti, a medieval landmark near the Colosseum, partially collapsed on Monday during renovation works, leaving one person seriously injured and two others with minor injuries, according to Italian media and emergency services. Three workers operating on scaffolding were trapped but were rescued by firefighters using a ladder truck.

The national fire service said crews deployed multiple teams and specialist units, adding that firefighters were unharmed amid a reported second collapse. Videos posted on social media showed large dust clouds billowing from the structure.

The tower had been under restoration funded through Italy’s National Recovery and...

Former US President Donald Trump has claimed that Pakistan is among the countries currently conducting nuclear weapons tests, as he defended his administration’s decision to resume American nuclear trials for the first time since 1992.

In an interview with CBS’ 60 Minutes, Trump reiterated that the United States must restart testing to keep pace with global rivals. He argued that Russia and China were already advancing their nuclear programs and «making them rapidly».

Last week, Trump said he had directed the US Department of Defense to begin nuclear testing «on an equal basis» with China and Russia, asserting both...

India’s long wait for a global women’s cricket title ended in style on Sunday in Navi Mumbai, as Harmanpreet Kaur’s team beat South Africa by 52 runs to win the 2025 ODI World Cup. The victory capped a dramatic campaign that saw India finish fourth in the league stage before knocking out defending champions Australia in the semi-finals and dominating the final.

Speaking after the win, captain Harmanpreet Kaur said the focus now is on building sustained excellence.

«This is the start — we wanted to break the barrier and now our next plan is...

The paramilitary Rapid Support Forces (RSF) seized El Fasher last week, and rights groups, researchers and the World Health Organization say mass killings and widespread atrocities followed the city’s capture. Satellite imagery and on-the-ground videos analysed by Yale University’s Humanitarian Research Lab show large-scale killings and bodies in public spaces.

The WHO condemned the reported killing of hundreds of patients and their relatives at the Saudi Maternity Hospital in El Fasher, saying more than 460 people were killed and health workers abducted on 28 October.

Eyewitness videos and media reporting describe summary executions, house-to-house raids and...

Thousands of residents in the eastern Philippines were evacuated Monday as Typhoon Kalmaegi moved toward Leyte island, an area devastated by Super Typhoon Haiyan in 2013.

Kalmaegi is forecast to bring sustained winds of 120 km/h and gusts up to 150 km/h, according to the state weather bureau. Officials in Leyte confirmed ongoing evacuations in the towns of Palo and Tanauan, both heavily affected during Haiyan, which killed more than 6,000 people.

On neighbouring Samar, authorities began clearing coastal zones Sunday, warning of storm surges up to three meters. Some local governments have initiated forced evacuations, including the...

A pregnant British teenager, Bella Culley, has been freed from custody in Georgia after pleading guilty to drug smuggling charges, following months of detention in Tbilisi.

Culley, 19, from Billingham in northeast England, was sentenced to five months and 24 days by a Tbilisi court on November 3 but released immediately as she had already served that time in custody. She also paid a fine of 500,000 lari ($187,000).

Arrest and Trial

Culley disappeared in Thailand earlier this year before flying to Georgia in May, where she was arrested on arrival at Tbilisi International Airport. Prosecutors said she...

US President Donald Trump has declared that Nvidia’s most advanced artificial intelligence chips will be reserved exclusively for American companies, blocking access for China and other countries.

Speaking during a CBS «60 Minutes» interview and later to reporters aboard Air Force One, Trump said only US firms should have access to Nvidia’s top-tier Blackwell chips, produced by the world’s most valuable company.

«The most advanced, we will not let anybody have them other than the United States,» Trump said, adding, «We don’t give the Blackwell chip to other people.»

Tighter Controls on AI...

Bitcoin is trading around $110K, but on-chain indicators suggest the world’s largest cryptocurrency could face a deep correction if its long-tracked four-year cycle plays out again, according to data monitored by market analysts.

The Profit-and-Loss (PnL) Index, particularly its 365-day moving average, tracked by CryptoQuant, has reached levels similar to those seen before three major Bitcoin bear markets: 2013, 2017 and 2021. In each of those cycles, Bitcoin fell by approximately 75–80% from its peak the following year.

Previous downturns saw BTC retreat from $1,100 to $200, $19,700 to $3,200, and $69,000 to around $15,500. Each decline occurred after...

President Shavkat Mirziyoyev has approved a bilateral agreement between Uzbekistan and Italy on the mutual protection of investments, the Ministry of Justice announced.

The document was signed in Samarkand on May 29 and came into force on October 31. The agreement is designed to create a more favourable environment for investors, ensuring the protection of their rights and interests in both countries.

Ministry of Investment, Industry and Trade has been designated as the responsible authority for implementing the provisions of the agreement.

Kursiv also reports that following the Uzbek-Finnish business forum, a portfolio of joint projects worth more...