AI

Musk says backs SpaceX-Tesla merger as rocket firm turns profit

BY ALEX PIGMAN

  • Any deal would need the backing of a majority of all Tesla shares, not just those cast in a vote, which Musk called "quite a high hurdle."
  • Elon Musk said Tuesday he would back a merger of SpaceX and Tesla, as his rocket and AI company reported its first quarterly profit since going public, driven by deals to rent out computing power to AI firms.
  • Any deal would need the backing of a majority of all Tesla shares, not just those cast in a vote, which Musk called "quite a high hurdle."
Elon Musk said Tuesday he would back a merger of SpaceX and Tesla, as his rocket and AI company reported its first quarterly profit since going public, driven by deals to rent out computing power to AI firms.
Asked about a possible tie-up on a call with analysts, Musk said he felt he was "tap dancing through a minefield," but that a combination would be "a good idea."
Shares in SpaceX shot up nearly five percent in after-hours trading following the comments.
Musk said special committees of independent directors at both SpaceX and Tesla have been set up to study the idea at the request of shareholders. 
He added that he could not take part in their talks because he has a conflict of interest.
The committees have not agreed on the terms of any deal and there is no guarantee they will, Musk said, cautioning that it would be overstating it to treat a merger as a certainty.
Any deal would need the backing of a majority of all Tesla shares, not just those cast in a vote, which Musk called "quite a high hurdle."
He said the two companies could gain from working together on AI software, chip design, robotics and space-based computing.
His remarks came after SpaceX posted net income of $4.4 billion for the July-September period, compared with a loss of $1.1 billion a year earlier.
Revenue jumped 161 percent to $14.6 billion.
The quarterly results follow a bumpy start on Wall Street.
SpaceX began trading on the Nasdaq on June 12 after an IPO priced at $135 a share that raised about $85.7 billion.
Its first earnings report as a listed company showed second-quarter revenue of $7.8 billion and a net loss of $541 million.
The AI division, which SpaceX now calls "Super Intelligence," drove the turnaround. Super Intelligence is US President Donald Trump's preferred term for AI.
The unit's revenue rose more than nine times from a year earlier to $7.6 billion, overtaking the Starlink satellite internet business as the company’s largest source of sales.

Cloud computing

SpaceX credited new cloud services agreements, wider adoption of its Grok chatbot and its acquisition of Cursor, an AI coding startup.
SpaceX's cloud customers include Anthropic, which agreed in May to pay nearly $45 billion over three years for computing power at SpaceX's Colossus data centers.
Google signed on in June, agreeing to pay $920 million a month from October through June 2029.
The AI unit turned an operating profit of $431 million, compared with a loss of $1.7 billion a year earlier.
As with other AI companies, spending remains heavy.
SpaceX invested $19.6 billion in the quarter, $16.4 billion of it in AI, bringing capital spending for the first nine months of the year to $48 billion.
Its computing capacity reached 1.7 gigawatts, up from 0.6 gigawatts a year earlier.
Musk said he was "fairly confident" SpaceX could bring an additional 10 gigawatts of computing capacity online in 2027. That would come on top of the roughly 2.5 to 3 gigawatts it expects to have running by the end of this year.
He added that power, cooling and electrical equipment were "somewhat of a limiting factor."
Revenue at the Starlink satellite internet unit grew 69 percent to $5.2 billion, and consumer subscribers reached 13.6 million.
Average monthly revenue per consumer, however, fell to $69 from $83 a year earlier.
SpaceX also completed the first revenue-generating flight of Starship, the giant rocket central to Musk's Mars ambitions and to deploying satellites at scale.
The flight carried 26 next-generation Starlink satellites into orbit.
arp/jgc

Boeing

US regulators certify Boeing 737 MAX 10 after delays

BY JOHN BIERS

  • When the 737 MAX 10 had its first flight in June 2021, Boeing targeted 2023 for first deliveries.
  • US officials gave final approval Tuesday to the Boeing 737 MAX 10, certifying the latest long-delayed version of the popular single-aisle aircraft.
  • When the 737 MAX 10 had its first flight in June 2021, Boeing targeted 2023 for first deliveries.
US officials gave final approval Tuesday to the Boeing 737 MAX 10, certifying the latest long-delayed version of the popular single-aisle aircraft.
The Federal Aviation Administration issued a certificate confirming the largest plane in the MAX family "complies with all applicable design and safety requirements," a Department of Transportation press release said.
The move, which follows US certification of the 737 MAX 7 in August, clears the way for increased plane deliveries in the coming years, a key aspect of Boeing's plan to improve financial performance after a lengthy period of weakness.
"The FAA's decision follows a thorough review of the aircraft's design and safety requirements," said FAA Administrator Bryan Bedford. "We will continue to hold Boeing to the highest safety standards as the company begins production of the 737 MAX-10."
Boeing, which expects to commence 737 MAX 10 deliveries in 2027, said it undertook more than 2,000 hours of flight testing and supplied tens of thousands of pages of documentation.
"Our flight test team ran a disciplined, methodical campaign to validate every system," said Chris Payne, general manager for 737 airplane development programs. "That rigor gives us confidence as we move toward deliveries."

Faster certifications ahead?

Boeing first launched the aircraft at the 2017 Paris Air Show. In 2018, Boeing said it aimed to have deliveries in 2020. 
When the 737 MAX 10 had its first flight in June 2021, Boeing targeted 2023 for first deliveries.
US regulators have heavily scrutinized Boeing's designs during certifications following a pair of MAX crashes in 2018 and 2019 that together claimed 346 lives.
The process was also slowed by a near-catastrophic January 2024 Alaska Airlines flight in which a fuselage panel blew out mid-flight.
In January, Boeing unveiled a new MAX production line in Everett, Washington, supplementing output for a plane that had previously been assembled exclusively in Renton, Washington.
Tuesday's announcement came in parallel with an expected visit by US Transportation Secretary Sean Duffy to Everett.
Duffy told broadcaster CNBC that the United States needs to become more efficient in certifying aircraft, saying that European regulators needed only half the time.
"Safety is paramount, but we have to certify aircraft more quickly if we're going to still compete as as Americans," Duffy told the network. 
"I feel very confident if we all come together and get a better process in place, we'll be just as, or more safe, but also can certify aircraft far more quickly."
The MAX 10 lists maximum seats of 230, compared with 172 for the MAX 7, with the MAX 8 and the MAX 9 between the two, according to Boeing's website.
Boeing CEO Kelly Ortberg said at a Wall Street conference in September that he expects to increase output of the 737 MAX to 52 per month in 2027 from the current monthly level, which the FAA has authorized at 47.
During the September 16 appearance, Ortberg had said he expected FAA certification "very soon," while also emphasizing the company's efforts to reach a deal with Boeing's white-collar union that would avoid a strike.
FAA officials had in late September briefly paused certification over concerns about a software problem, but they later concluded the issue did not pose safety risks.
Boeing's Society of Professional Engineering Employees in Aerospace approved a new contract on October 1, removing a potential strike from the list of Boeing concerns.
Shares of Boeing finished down 0.5 percent.
jmb/jgc

Global Edition

Dow boosted as markets rotate from tech shares

  • Wall Street stocks began meekly following losing sessions in leading European and Asian markets.
  • Wall Street stocks mostly rose Tuesday, greeting a pullback in oil prices as investors steered funds towards industrial equities amid lingering caution over artificial intelligence shares.
  • Wall Street stocks began meekly following losing sessions in leading European and Asian markets.
Wall Street stocks mostly rose Tuesday, greeting a pullback in oil prices as investors steered funds towards industrial equities amid lingering caution over artificial intelligence shares.
Comments from Qatari Foreign Ministry spokesman Majed al-Ansari describing US-Iran talks as "ongoing" pressured crude prices, despite no concrete changes in a conflict that has dented energy supplies for more than seven months. 
Saudi Arabia on Monday postponed a major investment conference due to repeated attacks from Yemen's Iran-backed Houthis.
International benchmark Brent oil futures finished down 0.7 percent at $108.79 a barrel after earlier hitting $111.99 a barrel.
Wall Street stocks began meekly following losing sessions in leading European and Asian markets. But US equities picked up momentum as the day progressed, especially the blue-chip Dow index led by strong results from industrial company 3M.
A more than one percent rise in the Dow showed a "rotation" from tech shares, said Briefing.com analyst Patrick O'Hare.
"We still have some lingering softness in the tech trade and specifically the AI space so we're not getting a completely broad market rally," O'Hare said. 
"But a lot of stocks outside the tech sector are doing reasonably well today with oil prices having come down and entry trades remaining relatively well behaved."
Tech shares have lately been volatile, with analysts pointing to worries over AI profitability and the hefty debt financing of some companies. 
The sector is also vulnerable after having outperformed the market for much of 2026.
"There's some nervousness that perhaps the growth rates won't be as strong as people have assumed which is to say you could have really good news but it just might not be good enough to satisfy high expectations," O'Hare said.
Earlier, AI worries hit Asian exchanges.
Seoul and Tokyo again bore the brunt of the selling as chip giants SK hynix, Samsung and Kioxia took another beating owing to a sharp exit from a sector that saw blistering gains in the first half of this year.
South Korea's Kospi stocks index sank nearly four percent, with SK hynix off 4.2 percent and Samsung down three percent. 
Further weighing on sentiment was the data center infrastructure firm Elice, whose shares collapsed more than 30 percent on their trading debut.
The negative sentiment carried over to equity trading in Europe.
The euro rose against the dollar but remained under pressure as violent protests in France and Italy have pushed up government bond yields.
The yield on France's 10-year government bond rose to 4.94 percent Tuesday, more than 150 basis points above the comparable German government bond, considered the European benchmark of creditworthiness.
The resulting spread between the two yields reached the greatest level since 2011.
Among individual companies, General Motors slumped 6.8 percent despite reporting better profits than expected. However, the automaker pointed to a recent uptick in commodity costs due to the US-Iran war, clouding its profit outlook.

Key figures at around 2015 GMT

New York - Dow: UP 1.0 percent at 52,495.88 (close)
New York - S&P 500: UP 0.3 percent at 7,712.57 (close)
New York - Nasdaq Composite: DOWN less than 0.1 percent at 26,424.82 (close)
London - FTSE 100: DOWN 0.3 percent at 10,733.00 (close)
Paris - CAC 40: DOWN 0.4 percent at 7,838.49 (close)
Frankfurt - DAX: DOWN less than 0.1 percent at 25,304.42 (close)
Tokyo - Nikkei 225: DOWN 1.3 percent at 64,075.52 (close)
Seoul - Kospi: DOWN 3.7 percent at 5,552.74 (close)
Hong Kong - Hang Seng Index: DOWN 1.3 percent at 23,867.74 (close)
Shanghai - Composite: UP 0.1 percent at 3,735.37 (close)
West Texas Intermediate: DOWN 1.8 percent at $101.79 per barrel
Brent North Sea crude: DOWN 0.7 percent at $108.79 per barrel
Euro/dollar: UP at $1.1235 from $1.1213 on Monday
Pound/dollar: UP at $1.3378 from $1.3305
Dollar/yen: DOWN at 158.23 yen from 158.50 yen 
Euro/pound: DOWN at 83.98 pence from 84.26 pence 
burs-jmb/bgs

tech

Lula campaign seeks to disqualify Bolsonaro over Meta 'interference'

BY LUCIA LACURCIA

  •   - Lula seeks fightback -   Lula's campaign also alleged inconsistencies in WhatsApp's artificial intelligence tool, saying Lula-related election content was limited while Bolsonaro content was untouched.
  • Brazilian President Luiz Inacio Lula da Silva's campaign team will request the disqualification of rival Flavio Bolsonaro on Tuesday over alleged election interference by tech giant Meta, a source told AFP. Lula is seeking a fourth non-consecutive term in office but is facing stiff competition from his right-wing challenger, the son of jailed ex-leader Jair Bolsonaro.
  •   - Lula seeks fightback -   Lula's campaign also alleged inconsistencies in WhatsApp's artificial intelligence tool, saying Lula-related election content was limited while Bolsonaro content was untouched.
Brazilian President Luiz Inacio Lula da Silva's campaign team will request the disqualification of rival Flavio Bolsonaro on Tuesday over alleged election interference by tech giant Meta, a source told AFP.
Lula is seeking a fourth non-consecutive term in office but is facing stiff competition from his right-wing challenger, the son of jailed ex-leader Jair Bolsonaro.
Flavio Bolsonaro received 47 percent of the vote over the incumbent's 45 percent in the first round earlier this month, and polls show a technical tie ahead of Sunday's runoff.
The petition to be submitted to Brazil's top electoral court concerns alleged "algorithmic manipulation" by Meta aimed at harming Lula's chances of winning, the campaign source said.
The information was first revealed Monday by Brazilian newspaper Folha de S. Paulo.
Meta and lawyers from both campaigns will meet at the Superior Electoral Court (TSE) on Tuesday, a court source said.
The court on Monday gave Meta 24 hours to prove it was complying with an order to treat both campaigns equally, threatening a daily fine of around $200,000 if it didn't.
The order came after Lula's campaign alleged that Meta, which owns Facebook, WhatsApp and Instagram, was suppressing his online content to boost Bolsonaro.
"We have completed the implementation of the measures to comply with the Superior Electoral Court's decision," the company stated on Tuesday.
 

Lula seeks fightback

 
Lula's campaign also alleged inconsistencies in WhatsApp's artificial intelligence tool, saying Lula-related election content was limited while Bolsonaro content was untouched.
Meta has denied taking any actions to favor one side in the election, but previously said that some of Lula's campaign ads had been mistakenly deactivated due to technical errors.
Dozens of Lula supporters protested outside the company's Sao Paulo offices on Monday, bearing placards and chanting slogans like "Meta out of Brazil."
Lula, 80, has also accused the American government of meddling in the elections in favor of Flavio Bolsonaro.
US President Donald Trump has not yet explicitly endorsed Bolsonaro, 45, but called his surprise first-round finish a "very, very big victory."
The runoff victor will either preserve the vast country of 214 million people as a left-wing stronghold in Latin America, or usher it into the ranks of right-wing administrations loyal to Trump.
The shock result of the first round appears to have invigorated the left, with Lula's camp staging massive rallies ever since and seeking to up its social media game.
Flavio's father Jair Bolsonaro is serving a 27-year prison sentence under house arrest for attempting a coup following his electoral defeat to Lula in 2022.
Flavio Bolsonaro has sworn to liberate his father if elected.
ll/app/cc/bgs/mjf

US

Solid GM results overshadowed by latest jump in commodity costs

BY JOHN BIERS

  • General Motors shares slumped 8.1 percent in afternoon trading.
  • Higher commodity costs due to the US-Iran war overshadowed General Motors' solid earnings and a new share buyback announcement Tuesday, sending shares lower.
  • General Motors shares slumped 8.1 percent in afternoon trading.
Higher commodity costs due to the US-Iran war overshadowed General Motors' solid earnings and a new share buyback announcement Tuesday, sending shares lower.
The Middle East conflict has fueled a surge in copper, steel and diesel prices, adding $400 million to costs for 2026, Chief Financial Officer Paul Jacobson said on an earnings conference call.
"We have seen a significant amount of inflation... really just in the last probably 10 weeks," he said.
Despite these dynamics, GM reported third-quarter profits of $3.3 billion, more than double last year's level, which was marred by one-time costs connected to unwinding electric vehicle investments.
Revenues rose 2.9 percent to $50.1 billion.
General Motors shares slumped 8.1 percent in afternoon trading.
Although GM saw lower auto sales in North America and some other markets compared with the year-ago level, its average vehicle price of $52,000 was above last year's, reflecting "sustained" demand for large trucks and luxury vehicles, the company said.
GM plans to launch revamped models of the 2027 Chevrolet Silverado and GMC Sierra pickup trucks in the upcoming stretch. 
"While the path forward is more challenging, we continue to believe that 2027 will be another strong year and better than 2026, assuming customer demand remains strong and commodity, logistics and other recent cost pressures moderate," Chief Executive Mary Barra told analysts.
The company has sharply slowed its EV ramp-up following regulatory changes enacted by US President Donald Trump. But GM reiterated plans for additional hybrid vehicles and will provide more details closer to the launches.
GM now forecasts full-year adjusted earnings of between $12.75 and $13.75 a share, a higher mid-point than the previous outlook.
However, Briefing.com noted that that midpoint of the range is below the level projected by Wall Street analysts.
"While internal drivers remain favorable, including lower EV losses, improving warranty expenses, and favorable vehicle mix, intensifying commodity and logistics costs and higher launch-related expenses are creating a more challenging earnings backdrop," said Briefing.com in a note.
Equity analysts at JPMorgan Chase described GM's results and outlook as largely in line in a note that pointed to questions about an outlook that describes 2027 as likely "better" but which is conditioned on moderating costs.
"GM has demonstrated strong execution over the last several years, we believe investors are likely to question conviction for now, given increasing commodity and logistics costs," among other questions, JPMorgan said.

UAW rips buybacks

 
GM's new $20 billion shareholder repurchase plan follows the completion of its latest $6 billion plan. 
Presentation slides from the company emphasized its gradual reduction of outstanding shares over more than a decade as increasing "the potential for operating performance to translate into stronger per-share results."
Since 2015, GM has made $42.7 billion in share repurchases, reducing common shares by 45 percent.
"We're really trying to signal that we believe the company is undervalued, and so we think this is the best way to provide value for our shareholders," said Barra, who declined to put a timeframe on the newly-announced repurchases.
Meanwhile, UAW President Shawn Fain said GM's buybacks were the latest sign the company "has sold its soul to Wall Street," according to a statement.
"Corporate America is destroying this country by looting the Rust Belt to pay off millionaires and billionaires for short-term gain," said Fain, who vowed to hold management accountable in 2028 contract negotiations.
"If there's $20 billion for Wall Street, you better believe there’s our fair share for the working class," said Fain, who successfully won wage hikes from GM, Ford and Stellantis in a three-pronged strike in 2023.
jmb/mjf

fraud

All who profited from fund scandal 'identified': Turkish minister

  •   - 'Markets will be much healthier' -   The scandal emerged when several funds were unable to satisfy redemption demands.
  • Everyone who profited from the sprawling multi-billion dollar investment fund scandal gripping Turkey has been identified, Finance Minister Mehmet Simsek said on Tuesday, expressing confidence the markets would emerge stronger from the controversy.
  •   - 'Markets will be much healthier' -   The scandal emerged when several funds were unable to satisfy redemption demands.
Everyone who profited from the sprawling multi-billion dollar investment fund scandal gripping Turkey has been identified, Finance Minister Mehmet Simsek said on Tuesday, expressing confidence the markets would emerge stronger from the controversy.
The scandal hit the headlines just over a month ago, with prosecutors looking into allegations of widespread market manipulation affecting the savings of some 455,000 individual investors.
It has raised uncomfortable questions about who might have profited, putting pressure on President Recep Tayyip Erdogan's ruling AKP, which has lost one senior official, an ex-minister who resigned following allegations about her investment activities. 
On Monday, the head of Turkey's SPK capital markets regulator was sacked and the deputy finance minister resigned, although neither departure was officially tied to the crisis. 
"Everyone who profited from market-disrupting activities has been identified," Simsek told HaberTurk TV and HT Bloomberg, without indicating how many people were involved, and whether they had been detained or questioned. 
"Those who made real gains of 10 million lira ($202,000) or more will be approached. If there is no voluntary return, the justice ministry will initiate the relevant legal procedures," he said.
"Then recovering assets that were unlawfully transferred from the funds to individuals and companies becomes extremely important. Those who colluded will be pursued through their personal assets."
So far, 85 people have been jailed pending trial in the affair, the justice ministry has said -- a figure that has not changed since October 4. 
The crisis has angered the political spectrum with the main opposition Yeni party raising questions about whether two ministers had profited through investments in the suspect funds.
Both ministers denied the allegations.
 

'World's largest casino'

 
"$20 billion is not a small amount of money," Tuncer Bakirhan, co-chair of the pro-Kurdish DEM party, said on Tuesday, describing the affair as "one of the biggest scams in history". 
"Turkey's economy has been turned into one of the world's largest casinos."
On Monday, SPK chief Mahmut Sutcu was removed by presidential decree after barely five months in office, just days after prosecutors began investigating his predecessor. 
And on the same day, Simsek's deputy Osman Celik resigned, state news agency Anadolu said. 
The decision came around two weeks after his son-in-law, Iskender Balci, was jailed pending trial in the fund scandal. 
Until August 31, Balci served on the board of Turkish shipbuilding firm Ozata Denizcilik.
That company came up on September 26 when a Yeni lawmaker sought clarification over claims senior AKP official Fatma Betul Sayan Kaya and her husband had made significant profits through transactions involving its shares which they allegedly offloaded before the scandal broke.
She resigned later that day although it remains unclear whether she has faced any legal measures.
 

'Markets will be much healthier'

 
The scandal emerged when several funds were unable to satisfy redemption demands.
Regulators put into liquidation seven firms that manage 131 investment funds with assets reportedly worth some $17 billion.
"Of these 131 funds, 66 have been completely liquidated," Simsek said, adding that the liquidation of A1 Capital, Pardus and Bulls -- three of the portfolio management companies -- was also completed. 
Turkey would "significantly increase sanctions relating to manipulation and other market-disrupting actions" and would "strengthen supervision and oversight" as well as addressing any "gaps in the legislation", he added. 
Last week, ratings agency MSCI expressed concerns over market transparency.
It pointed to concerns over "possible coordinated trading" and put Turkey on notice it could reassess the country's emerging-market status if there was no sign of concrete improvements by June 2027. 
Simsek said Turkey had already started "addressing the issues they identified as problematic", saying the fact the MSCI had given them time was "important". 
"Although the whole process was somewhat challenging... everyone with common sense says the Turkish capital markets will be much healthier," he said.
hmw/rlp

diseases

Inequality is major factor in impact of non-communicable diseases : WHO

  • In its biggest-ever look at inequality in health and non-communicable diseases (NCDs), the WHO studied the top four killers -- cancer, cardiovascular diseases, chronic respiratory diseases and diabetes.
  • Non-communicable diseases account for three-quarters of deaths worldwide but affect different population groups in different ways, a World Health Organization study showed on Tuesday.
  • In its biggest-ever look at inequality in health and non-communicable diseases (NCDs), the WHO studied the top four killers -- cancer, cardiovascular diseases, chronic respiratory diseases and diabetes.
Non-communicable diseases account for three-quarters of deaths worldwide but affect different population groups in different ways, a World Health Organization study showed on Tuesday.
In its biggest-ever look at inequality in health and non-communicable diseases (NCDs), the WHO studied the top four killers -- cancer, cardiovascular diseases, chronic respiratory diseases and diabetes.
It also looked at the five main risk factors driving them -- tobacco use, alcohol consumption, obesity, unhealthy diets, physical inactivity and air pollution.
The report then scanned this across differences in NCD burden, prevention and care -- by age, gender, economic status, education, place of residence, disability status, employment and migration status.
"This is the first effort to systematically measure inequalities in NCDs and their risk factors on a global scale," said Ahmad Reza Hosseinpoor, who leads the WHO's health inequality monitoring team.
"The findings show which populations are being left behind."
NCDs cover eight of the top 10 causes of death, with cardiovascular diseases the biggest killer by far, claiming almost 20 million deaths a year.
The 10 years of national data, collected between 2013 and 2022, confirmed that socio-economic status influences health at every stage -- from initial exposure to risk factors, through to diagnosis, treatment and disease management.
For example, the report found that in low- and middle-income countries, less educated populations suffered higher rates of hypertension and diabetes.
Cervical cancer screening rates are very low among the poorest and least-educated women; while tobacco use remains higher among less-educated men than among more educated men.
Looking at geographical factors, the study found that people in rural areas has significantly more limited access to hypertension diagnosis and cancer screening.
Gender and age also play a role. Men with hypertension are diagnosed and treated less frequently than women, even though they consume more tobacco and alcohol.
Conversely, obesity is more common among women, particularly in developing countries.
The study confirmed that social marginalisation, disability and migrant status were significant factors contributing to increased risk.
The United Nations' health agency urged governments to raise health-related taxes on tobacco, alcohol and sugary drinks -- measures that are particularly effective among low-income populations.
Countries were also encouraged to tailor insurance schemes or subsidies for under-served communities and to incorporate inequality indicators into their national health systems.
ag-rjm/gil

investment

Investors pledge 230 billion euros at German summit: Merz

BY BRYN STOLE WITH SAM REEVES IN FRANKFURT

  • The chancellor noted Amazon investments worth 16 billion euros and a German government partnership with US chipmaking giant Nvidia.
  • Major companies at an economic summit hosted by the German government have committed to investing around 230 billion euros ($258 billion), Chancellor Friedrich Merz said Tuesday in Berlin. 
  • The chancellor noted Amazon investments worth 16 billion euros and a German government partnership with US chipmaking giant Nvidia.
Major companies at an economic summit hosted by the German government have committed to investing around 230 billion euros ($258 billion), Chancellor Friedrich Merz said Tuesday in Berlin. 
"Investments are a key factor for the future of our country, for its growth and its competitiveness. They bring with them more jobs, increased production, more services, and a better future for our children and grandchildren," Merz said.
The chancellor noted Amazon investments worth 16 billion euros and a German government partnership with US chipmaking giant Nvidia.
He also mentioned unspecified commitments by the German retail conglomerate Schwarz Group, US investment firm Blackstone, software giant Microsoft and the French pharmaceuticals giant Sanofi.
Merz's government hosted the two-day Invest in Germany summit as part of a push to draw more foreign money into Europe's largest economy, which has struggled for years with sluggish growth and diminished global competitiveness for some of its blue-chip firms.
Current growth in Germany -- projected at 1.3 percent for 2026 -- is driven primarily by public investment, according to economic forecasters.
During the gathering, which drew more than 200 corporate leaders to Berlin, Merz touted reforms aimed at streamlining regulatory requirements and cited a massive spending campaign on the country's infrastructure and military.
The inaugural German investment summit topped the 93 billion euros announced at President Emmanuel Macron's "Choose France" summit in June, an event that served as the model for Merz's gathering.
 

'Nation of savers'

 
During his year and a half in power, Merz's coalition government -- an alliance between his conservative CDU/CSU and the centre-left Social Democrats -- has focused on tax cuts and regulatory relief to stimulate the economy.
But business leaders have grown impatient with the slow pace of reforms as German companies have battled high energy prices, US tariffs and stiff Chinese competition, particularly in Germany's renowned automotive sector.
"The government will continue to improve the conditions for investment in Germany -- for example by reducing bureaucracy, accelerating the approval process and enhancing infrastructure," Merz said on Tuesday.
The chancellor also touted efforts to get Germans -- who by reputation are thrifty and conservative with their savings -- to put more money into stocks and other riskier investments.
The government has recently passed plans to create investment accounts for children to help fund eventual retirement costs, and is pushing to put some pension funds into stocks as well.
"We're turning the 'country of savers' into a country of investors," Merz said.
 

Amazon and Nvidia

 
For the time being, only Amazon has announced a specific investment figure, saying it would spend 16 billion euros by the end of 2027.
Amazon's plans include putting nearly five billion euros into expanding its cloud computing division Amazon Web Services in the Frankfurt area as demand grows for AI services.
Other planned investments include spending on Amazon Leo, which aims to provide high-speed internet via a network of satellites, and upgrading the company's retail and logistics warehouses to use more robotics.
The company's Prime Video arm is also planning a slate of new film productions in Germany, according to the firm.
Merz opened the event late Monday, holding an on-stage discussion with Nvidia's chief executive Jensen Huang, who praised Germany's high-end engineering firms and research institutions.
A partnership between Nvidia and the German government aimed at applying artificial intelligence to industry was also announced, although no figures were disclosed.
Merz has been weakened by record-low popularity ratings, persistent infighting in his coalition government and a string of significant setbacks for his conservative party in regional elections.
The chancellor has been seeking to regain some of his lost momentum by demonstrating Germany's appeal to investors and bolstering the muted economic recovery.
bst-sr/fz/rl

US

Houthi attacks undermine Saudi Arabia's economic ambitions

  • Following an uneasy four-year truce in the war, fighting kicked off again in July when the airport in Sanaa was struck after Iran sent a plane in defiance of Saudi control -- an attack the Houthis blamed on Saudi Arabia.
  • With airports closed and the capital brought to an effective standstill, attacks by Yemen's Houthis on Saudi Arabia have thrown a wrench in the kingdom's ambitious plans to overhaul the economy and draw foreign investment.
  • Following an uneasy four-year truce in the war, fighting kicked off again in July when the airport in Sanaa was struck after Iran sent a plane in defiance of Saudi control -- an attack the Houthis blamed on Saudi Arabia.
With airports closed and the capital brought to an effective standstill, attacks by Yemen's Houthis on Saudi Arabia have thrown a wrench in the kingdom's ambitious plans to overhaul the economy and draw foreign investment.
A decade ago, de facto ruler Crown Prince Mohammed bin Salman launched his bold Vision 2030, aiming to diversify the economy away from oil and turn the powerful monarchy into a hub for tourism, international events and multinational enterprises.
Already dealt a blow by Iran's attacks on US allies in the Gulf during the wider Middle East war, the plan now faces an existential hurdle with unprecedented Houthi attacks, in particular targeting oil infrastructure and airports.
"I can't think of another time when the challenge facing MBS was more," said H.A. Hellyer, an analyst at the Royal United Services Institute (RUSI).
"He's dealing with the Iranians on one side of the country which is very difficult and problematic and then he's dealing with the Houthis who aligned with the Iranians on the other."
On October 10, a Houthi attack on Riyadh's international airport killed 13 people and injured more than 300 -- the deadliest in the kingdom in over a decade, with the airport remaining closed since.
 

'Active conflict zone'

 
A consultant to the Saudi government who wished to remain anonymous meanwhile told AFP that "the deeper risk there is that, you know, boards start pricing Saudi as part of an active conflict zone.
"If that perception settles into risk models, insurance premiums, it will take many years to unwind," she added.
A number of major events have been cancelled, most notably the Future Investment Initiative (FII), nicknamed "Davos on the desert" -- a bulwark of the kingdom's diversification drive.
The uncertainty has only piled pressure on the 41-year-old crown prince's Vision 2030, as several of its megaprojects -- most notably the hyper-futuristic megacity dubbed Neom -- have been scaled back.
In Riyadh, the iconic Kingdom Centre recently ordered its office tenants, which include the International Monetary Fund (IMF), to work remotely until further notice.
The world's largest crude oil exporter is moreover expected to see its economy contract by 3.3 percent, according to the IMF's latest projections, revised from a projected growth of 1.7 percent in July.
The kingdom is grappling with a new reality wherein US protection is no longer guaranteed, as President Donald Trump has appeared reluctant to offer support in Yemen as he gears up for mid-term elections.
"Saudi Arabia finds itself in a delicate situation in the face of Houthi attacks, as well as US hesitation," said Laurent Bonnefoy, a researcher at Ceri/Sciences Po in Paris.
"Trump for the time being seems to be refusing to commit to offering the needed military backing," he added.
 

'Investor concerns'

 
Riyadh has secured support from several allies including France, Britain, Turkey and Pakistan to help mitigate the threat posed by the Houthis," said Torbjorn Soltvedt, Middle East analyst at Verisk Maplecroft. 
"But all are reluctant to go beyond defensive measures, with no appetite to put troops on the ground in Yemen."
The Houthis for their part are relying on a vast arsenal of weapons built up over years with Iranian support.
Following an uneasy four-year truce in the war, fighting kicked off again in July when the airport in Sanaa was struck after Iran sent a plane in defiance of Saudi control -- an attack the Houthis blamed on Saudi Arabia.
The Yemeni group has a large number of longer-range missiles and drones at its disposal, and has seized control of the Bab al-Mandab Strait, which leads up to the Suez Canal.
After pursuing a policy of "power and regional projection" in 2019, Riyadh -- facing a "stalemate" in Yemen --  shifted tack around 2019 and focused on economic objectives, Bonnefoy said.
Ali Shihabi, a Saudi analyst close to the Saudi government, said the kingdom "has faced repeated challenges over the decades".
"The Kingdom has weathered each crisis and will weather this one. It is resilient, has staying power and can draw on global supply chains and an extensive network of alliances," he said.
"The Houthis, ultimately, have only Iran, and Iran itself is under severe strain."
But Soltvedt suggested the risks predate the latest conflict, saying: "Allaying investor concerns over geopolitical risk has been a longstanding challenge for Riyadh, from the attacks on the heart of Saudi Arabia's energy sector just before the Aramco IPO in 2019, to the outbreak of regional conflict this year.
"With no solution to the conflict in sight, the drone and missile threat from multiple directions and actors will continue to weigh on the minds of investors."
bur/jsa/jfx

technology

Power outage hits Google Cloud services, disrupting UK banks

BY ALEXANDRA BACON

  • Google said its cloud services suffered an outage "due to a power event", in an incident that began at 0608 GMT. Services for the digital bank Revolut, including withdrawals from ATMs, bank transfers and bank card top-ups, were disrupted, which a source close to the matter attributed to the Google Cloud failures.
  • A power outage at a Google Cloud data centre near London caused serious failures to services on Tuesday, leading to widespread disruptions for several UK banks.
  • Google said its cloud services suffered an outage "due to a power event", in an incident that began at 0608 GMT. Services for the digital bank Revolut, including withdrawals from ATMs, bank transfers and bank card top-ups, were disrupted, which a source close to the matter attributed to the Google Cloud failures.
A power outage at a Google Cloud data centre near London caused serious failures to services on Tuesday, leading to widespread disruptions for several UK banks.
Google said in a service health update that most services had returned to normal by 1210 GMT, six hours after the incident began.
"We are seeing the recovery of services for most workloads in europe-west2," the US tech giant said, referring to its London data centre.
Google said its cloud services suffered an outage "due to a power event", in an incident that began at 0608 GMT.
Services for the digital bank Revolut, including withdrawals from ATMs, bank transfers and bank card top-ups, were disrupted, which a source close to the matter attributed to the Google Cloud failures.
UK lenders Lloyds and HSBC confirmed that customers faced issues with their banking services. 
"We understand the root issues have been resolved, so we expect all our services to be back to normal soon," Lloyds said in a statement on Tuesday afternoon.
Internet service tracker Downdetector indicated that hundreds of reports had been made of problems affecting business in the UK, including the property website Rightmove, delivery service DPD and the Royal Mail postal service.
HSBC said its customers experienced "difficulties accessing our services", adding that it would "monitor the situation, which is also affecting other organisations".
A Revolut spokesperson said the bank was "working to fix the issue since it was identified" and offered its apologies "to anyone affected and for any inconvenience caused".
"We can confirm that all our customers' money and data are safe," the spokesperson added in a statement.
 

Reliance on hyperscalers

 
Google said it would publish a full incident report in the coming days. 
The outage has renewed concerns over the global reliance on cloud providers, which offer businesses on-demand IT resources without heavy investment in expensive server farms.
Local providers have seen their share of the market shrink in recent years and been captured by foreign giants known as "hyperscalers".
A global outage at Amazon's cloud services last year disrupted many online services for video games, business and transport firms and made part of the internet inaccessible for several hours.
Only three major hyperscalers -- Google Cloud, Microsoft Azure and Amazon Web Services -- have the infrastructure to handle vast amounts of data needed by businesses at scale in the UK, said University of Surrey cybersecurity professor Alan Woodward.
These centres remain "susceptible to localised infrastructure failures", which can have significant knock-on effects when so many businesses depend on just a handful of providers, he added.
He said the problem is "intensifying with the AI boom" as demand for hyperscalers rises, meaning "we are becoming more reliant on these few massive entities".
ajb/bcp/rl

research

AI challenges maths by solving the unsolvable

BY FRéDéRIC BOURIGAULT

  • Since April, AI firms have regularly been publishing solutions to previously unsolved mathematical problems as they seek to demonstrate the power of their latest models.
  • Announcements over recent months that artificial intelligence models have cracked previously unsolvable problems are shaking to the core top-level mathematicians, who are now asking themselves: where do we come in?
  • Since April, AI firms have regularly been publishing solutions to previously unsolved mathematical problems as they seek to demonstrate the power of their latest models.
Announcements over recent months that artificial intelligence models have cracked previously unsolvable problems are shaking to the core top-level mathematicians, who are now asking themselves: where do we come in?
"All the avenues of research I had are now gone; we're facing a new day," Hugo Duminil-Copin, winner of the 2022 Fields Medal, one of the highest honours in mathematics, recently told his colleagues at the French Mathematical Society.
Since April, AI firms have regularly been publishing solutions to previously unsolved mathematical problems as they seek to demonstrate the power of their latest models.
Last week OpenAI released solutions to 719 previously unsolved problems. 
The advances are forcing those in the field to wonder whether this spells the end of mathematical research.

Thinking tool

While acknowledging the emotional shock caused by the recent publications, Stephane Mallat, 2025 Gold Medal recipient from France's national scientific research centre (CNRS), told AFP there will always be a need for mathematicians.
"Mathematics goes far beyond calculation: it's a way of thinking clearly," Mallat said.
"Beyond all the problems we face with AI, maths will remain absolutely central because it's a tool that allows us humans to think clearly and understand things," he told AFP.
An initial sign of pushback from the field has come from the Simons Foundation.
This major American patron of mathematics announced last week a $15-million programme co-funded by OpenAI and Anthropic to support mathematicians in dealing with AI.
It will fund workshops to assess the results produced by AI and establish standards for its use.
Mallat also noted mathematicians are needed for teaching, although the rapid advancement of AI will impact this area too.
"You have a lot of young people who aren't very keen on doing maths, and when you see an impact like this, they might say: 'Oh well, even researchers are going to be replaced by AI, so why should I bother?'" said Mallat.
"That question needs to be addressed, because it's completely false that we no longer need mathematicians."

Tractors and Columbo

For Francois Charles, mathematician and department head at the Ecole Normale Superieure in Paris, two separate issues are playing out. 
"We have legitimate concerns about how the community is organised, because AI is bringing a number of changes in how people enter the profession or at the doctoral level. But on the purely scientific side, I'm not at all pessimistic," he said.
"A certain number of obstacles may be overcome. As scientists, we need to be more ambitious."
Mallat, who has recently published a book on maths and AI, makes a distinction between what is happening and the mechanisation of agriculture when tractors came on the scene.
"It was also a human tragedy for some who had to abandon the countryside, move to the cities, find jobs, retrain. Now, mathematicians are not in that situation. When you know how to do maths, you can do an enormous number of things," he argued.
Meanwhile, in the pages of French daily Le Figaro, 2010 Fields Medallist Cedric Villani, a strong critic of AI, took inspiration from the TV detective Columbo.
"In mathematics, the conclusion is less important than the path to get there."
fbr-bl/alu/mpm-eab/pdw

diplomacy

Rubio says India diversifying oil, trade deal 'very close'

BY LéON BRUNEAU

  • "It's not easy to do that from one day to the next, so I think they've made substantial progress in that regard, and we're happy to see that."
  • US Secretary of State Marco Rubio said on Tuesday India had made "substantial progress" in diversifying its oil supplies, suggesting a trade deal with New Delhi was "very close".
  • "It's not easy to do that from one day to the next, so I think they've made substantial progress in that regard, and we're happy to see that."
US Secretary of State Marco Rubio said on Tuesday India had made "substantial progress" in diversifying its oil supplies, suggesting a trade deal with New Delhi was "very close".
Rubio arrived in Mumbai for a three-day visit, his second official trip to India this year, as the two countries seek to overcome trade tensions and deepen energy ties.
India is a major importer of Russian oil, and US President Donald Trump's tariff war launched in April last year has added to friction between Washington and New Delhi.
"What India has expressed repeatedly is their desire to diversify their energy portfolio, which is a smart thing to do," Rubio told reporters in India's financial capital.
"It's not easy to do that from one day to the next, so I think they've made substantial progress in that regard, and we're happy to see that."
India is wary of US trade measures, including a law allowing tariffs of up to 100 percent on countries buying Russian oil, although Trump signed an executive order last week that waived those threatened sanctions.
Rubio last visited India in May, when he met Prime Minister Narendra Modi.
He is not scheduled to meet Modi this time, but held talks on Tuesday with his counterpart, Foreign Minister Subrahmanyam Jaishankar, and will meet business leaders.
They discussed "energy security and defence cooperation while reaffirming the importance of advancing the US-India strategic partnership", Rubio said on social media after their meeting.

'Small number'

The top US diplomat will visit Jamnagar, in the western state of Gujarat, a port and stronghold of billionaire Mukesh Ambani's Reliance conglomerate and its flagship refinery, the world's largest.
"India is a refining superpower," Rubio said, adding that "we think we could be a source of some of their energy inputs".
The two countries reached an interim trade agreement in February aimed at reducing US tariffs on Indian goods.
However, the US Supreme Court struck down Trump's sweeping tariffs days later, fuelling uncertainty over when the agreement would take effect.
The two sides have been negotiating ever since.
Indian Finance Minister Nirmala Sitharaman said this month the talks had reached "a plateau, beyond which giving or taking might be very, very difficult".
Rubio was more upbeat on Tuesday.
"We're very, very close; I would say we're about as close as you can be without having an executed agreement. I think there's a small number of items left to wrap up," he said.
"Hopefully have some good news to announce fairly soon, and perhaps the leaders can sign it thereafter."
Agriculture remains a sensitive area for India, which is reluctant to expose farmers to greater foreign competition. 
Washington, meanwhile, wants India to buy more US energy supplies.
Goods exports to the United States jumped 21 percent in August to $8.3 billion compared to the same month a year earlier, when India faced 50 percent tariffs.
The surge in exports has been a bright spot for the Indian economy, which has been roiled by high energy prices due to the Middle East war.
Economists say that a return of higher tariffs would cast a shadow over India's growth outlook, hurt market sentiment and heap pressure on an already-weak rupee.
lb-pjm/pbt

protests

An unhappy republic: France's troubles extend beyond the street

BY MARC BURLEIGH

  • "Revolution!"
"Revolution!" some shouted during France's protests. Others demanded better classroom conditions. Many simply wanted their household budgets to stop shrinking as fuel and food prices spike.
Some, meanwhile, relished confrontation. Masked youths battled police and seized a lawless opportunity to loot city stores of expensive sneakers and TVs.
France's unrest is exposing deep political and economic fault lines ahead of next year's presidential election, analysts say, strengthening anti-establishment forces while leaving the cash-strapped government with little room to respond.
It adds up to a grievous problem for President Emmanuel Macron, whose rise was partly made possible by the collapse of France's traditional party system and whose presidency has coincided with further political fragmentation.
Analysts say the gap between what France's citizens expect of the state and what the state can afford to deliver may become one of the defining issues of the post-Macron era.
Previous governments might have tried to buy social peace. This one has far less room to do so.
"It's difficult for the government to respond to the legitimate demands of students and others because it has no money," analyst Mujtaba Rahman, head of the Eurasia Group, said on X.
"And (it's) impossible to respond to demands of the violent minority because they have none except 'screw the system'," he said.
 

Who are the protesters?

 
The profiles of those in, and on the margins of, the protests are as varied as their demands.
One placard summed up the mood: "Everything's fine, except everything."
An unemployed former hotel employee who gave her first name as Oumy said as she marched on the weekend that she no longer believed in the government's promises.
"Everything is tough. We have dramatically tightened our belts," she said. 
Those frustrations reflected a feeling by many voters that they were unheard by traditional parties, while students and young workers expressed anxiety about future prospects.
Yellow Vest demonstrators demanding action on inflation marched alongside students who had been blocking schools since late September.
Hovering behind the economic grievances were familiar French arguments over immigration, policing, secularism and national identity.
But it was the actions of hundreds of masked youths on the margins of the demonstration that quickly dominated. 
They fought police, vandalised public buildings, torched cars and bicycles, and looted shops in a frenzy that is shaping the political and security response.
"There are two types of rioters: virtually professional ones, ultra-left militants often coming from the Black Bloc movement; and 'casseurs' (hooligans or violent vandals), much more numerous, who are there by opportunity," Jerome Fourquet, a French political scientist, told Le Parisien daily.
They were there for the "adrenaline" and because they see "minimal risk" of punishment if caught, he said.
"The looters who exploited the chaos were very young kids from the poor suburbs, brown and black in many cases but almost certainly French," Eurasia Group's Rahman said. 
He dismissed as "nonsense" claims by US President Donald Trump that the violence stemmed from immigration.
The focus on the "casseurs" has eclipsed concerns voiced by many protesters, particularly younger people facing expensive housing, uncertain employment prospects and diminishing expectations of matching their parents' living standards.
 

Anti-establishment forces

 
The unrest is widely being interpreted through the lens of the presidential race.
Some observers believe the unrest could help far-right leader Marine Le Pen by reinforcing concerns about law and order. Others argue it may strengthen support for the radical left among younger urban voters frustrated by economic conditions.
Surveys place Le Pen as the frontrunner ahead of the April-May election -- if she can overcome a graft conviction -- while far-left candidate Jean-Luc Melenchon also enjoys significant support.
The government has accused "ultra-left groups" of fomenting and carrying out the unrest.
Macron came to power in 2017 promising to modernise the economy and transcend France's traditional political divide.
Supporters point to investment and lower unemployment since then, while critics say many voters feel excluded from decision-making and unconvinced the gains have improved daily life.
As Macron nears the end of his maximum two consecutive terms, his approval ratings are low, with an Ifop survey carried out before the street violence showing just 17 percent support the president and 56 percent are unhappy with his governance.
France today faces weak growth, rising inflation, and mounting debt and deficits that are forcing the government to pursue spending cuts that would tighten conditions for many households, while at the same time protesters are demanding greater investment in schools, public services and purchasing power.
 

Warning for Europe?

 
Sebastien Maillard, an analyst at Chatham House and the Jacques Delors Institute, told AFP that "what is new in the phenomenon of such upheaval is that it is taking place just ahead of the country's major election".
He said that "the protests risk replacing an organised debate among candidates, as a democratic presidential race would require".
What's happening in France may point to pressures emerging elsewhere in Europe. Protests have also taken place in Brussels, Milan and Lisbon, albeit on a smaller scale.
"France serves as a protest model for other movements witnessed in northern Italy, Brussels and Portugal," Maillard said.
He added that the issues fuelling public anger in France were felt elsewhere, and the sort of disruption France was seeing could "spread elsewhere on the continent".
Those concerns include living costs, housing affordability, sluggish growth and declining trust in public institutions.
Together, the unrest, economic anxiety and growing support for political outsiders point to an uncertain future for France.
rmb/gv

AI

China opposes US ban on govt agencies from using DeepSeek

  • Beijing's foreign ministry opposed the ban on Tuesday, vowing to protect Chinese businesses.
  • Beijing opposed on Tuesday a US government ban on its agencies using AI tools from Chinese startup DeepSeek, saying the move "overstretched" the concept of national security.
  • Beijing's foreign ministry opposed the ban on Tuesday, vowing to protect Chinese businesses.
Beijing opposed on Tuesday a US government ban on its agencies using AI tools from Chinese startup DeepSeek, saying the move "overstretched" the concept of national security.
China and the United States are locked in a race for dominance in the fast-moving artificial intelligence sector, trading accusations of stealing AI technologies and jeopardising security in recent months.
The US Department of Homeland Security on Monday banned products developed by DeepSeek -- and tools created using DeepSeek by third parties -- saying they risked sharing sensitive data with China.
Beijing's foreign ministry opposed the ban on Tuesday, vowing to protect Chinese businesses.
"China has consistently opposed the overstretching of the concept of national security and the politicisation of issues related to science, technology, and trade," ministry spokesperson Mao Ning told a news conference.
The Department of Homeland Security can issue directions to civilian agencies, but not the military or intelligence services.
Its statement on Monday said that "DeepSeek's models multiple threat vectors" and must be removed from IT devices.
Use of DeepSeek AI tools "may result in the transfer of sensitive data to (China) if used by US government employees or vendors," the department warned.
Its servers are located in China, where the legal system permits the government "extensive authority" to access private company infrastructure, it said.
AFP has contacted DeepSeek for comment.
DeepSeek, one of China's top AI labs, shook up the industry in January 2025 with a low-cost, high-performance chatbot, challenging assumptions of US dominance.
The firm released a long-awaited new model, V4, in April and this month updated a faster, more lightweight version of V4.
The United States has accused DeepSeek and other top Chinese AI firms of systematically stealing the capabilities of cutting-edge models developed by American rivals.
Despite their fierce competition in the field, China and the United States in September agreed to set up a "communication channel" for AI incidents.
The topic is expected to arise again when the countries' leaders meet next month at a summit in the Chinese city of Shenzhen.
burs-kaf-dhw/fox

protests

France to impose new curfews where necessary: PM

  • "Targeted curfews have contributed to calm overnight," Lecornu wrote on X. "Tonight new curfews will be decided where the situation requires it.
  • France will impose new curfews in areas where needed on Tuesday, Prime Minister Sebastien Lecornu said, adding that the measures introduced in several cities the previous day had "helped keep the night calm".
  • "Targeted curfews have contributed to calm overnight," Lecornu wrote on X. "Tonight new curfews will be decided where the situation requires it.
France will impose new curfews in areas where needed on Tuesday, Prime Minister Sebastien Lecornu said, adding that the measures introduced in several cities the previous day had "helped keep the night calm".
France was rocked on Saturday by some of its worst rioting in recent years, just six months before the country elects a successor to President Emmanuel Macron.
Accused of failing to anticipate and contain the street violence, the government has pledged to restore order, and had announced partial curfews in Paris and some other cities on Monday.
"Targeted curfews have contributed to calm overnight," Lecornu wrote on X.
"Tonight new curfews will be decided where the situation requires it. These decisions will be made on the ground, by the prefects, in coordination with the mayors," he said.
Police confirmed the night had passed without major incidents across France.
Several cities, including Paris, the southwestern city of Bordeaux and Nice on the French Riviera, introduced partial curfews on Monday in response to urban unrest that followed weeks of student demonstrations over poor learning conditions in high schools.
While some restrictions, such as those in Paris, initially applied only for the night from Monday to Tuesday, others, particularly in Bordeaux and Nice, were set to remain in force for several days.
During the night, a helicopter flew over the French capital's Place de la Republique, one of the epicentres of the unrest, sweeping a powerful searchlight across the square to monitor compliance with the curfew.
In Lyon, despite a ban on demonstrations, around 500 people gathered on Monday evening outside the tourism office that was set on fire, to show support for shopkeepers affected by looting, according to organisers.
The word "LYON" had been spelled out on the ground with candles. 
A banner hung on a fence nearby read "Anti-Rioters Lyon" and "Doucet Resign", referring to Green mayor Gregory Doucet, an AFP journalist said.
Under pressure, the government scheduled another series of emergency meetings on Tuesday, including talks involving representatives of major social media platforms.
Finance Minister Roland Lescure pledged support measures for shopkeepers and craftspeople.
Patrick Martin, the head of France's Medef business lobby group, on Tuesday accused the state of having "failed" during the urban unrest that hit at least 3,000 businesses, according to preliminary estimates.
bur-as/js
 
 

climate

Middle East fuel crunch drives solar push in tiny Fiji

BY BEN STRANG

  • He added that the village hoped to install solar panels on communal buildings to reduce the shared cost of powering them.
  • Power cables weave through palm trees high above Fiji's Rukurukulevu Village, linking residents to the national grid and a select few to solar panels.
  • He added that the village hoped to install solar panels on communal buildings to reduce the shared cost of powering them.
Power cables weave through palm trees high above Fiji's Rukurukulevu Village, linking residents to the national grid and a select few to solar panels.
The settlement of about 400 people finally electrified its last building this year -- a kindergarten, just metres from the sea.
But residents are struggling to keep the lights on as the Middle East war and other factors push up energy bills in this Pacific paradise.
It is challenging Fiji's reliance on imported fossil fuels and driving a push towards renewables in the resource-scarce island nation.
"The prices of electricity here in Fiji (are) very high," village spokesman Vereniki Nalio told AFP.
"Some houses, they got FJ$100 (US$44) and over. The church, community halls and church minister's house, they've got about FJ$200, nearly FJ$300, for a month."
Nalio said he paid about FJ$60 per month for electricity -- "very, very high".
Opposite his home stands another small house with one big difference: past the clothes hanging on the washing line lies a small array of solar panels.
Another home across the road boasts an even larger installation, showing how some in the village are seeking to move away from dependence on the grid.
Since the United States and Israel attacked Iran in February, fuel shipments from the Gulf have slowed.
Nalio said the subsequent global energy squeeze had led villagers to consider switching to renewables.
A basic solar power system costs around FJ$3,000, a higher up-front cost but an increasingly reasonable price to pay for theoretically unlimited, free electricity.
"They said we had no more fuel, no more petrol would come to Fiji. So at that time we think about solar," Nalio said.
He added that the village hoped to install solar panels on communal buildings to reduce the shared cost of powering them.
Pointing to the sky, Nalio said Rukurukulevu should not have to import its energy.
"Solar is already here."

Rush for renewables

Fiji hosted this month's "pre-COP" United Nations climate summit, where Pacific Island nations pressed for faster access to climate financing for projects such as renewable energy.
The event was a precursor to next month's main COP event in Turkey, where organisers will push for member states to commit to electrification -- replacing technologies that burn fossil fuels directly, like diesel cars and gas heating, with electric alternatives.
Symbolising the challenges the Pacific faces, a major power outage on the second day of the event plunged the 4,000 attendees into darkness.
Government minister Ro Filipe Tuisawau blamed Fiji's rising energy prices on overreliance on fossil fuels and El Nino.
The cyclical climate phenomenon is particularly strong this year and has brought weather patterns that are drying up Fiji's hydroelectric dams.
They "will face a critical situation" if rainfall does not increase by mid-November, Tuisawau, whose remit covers public works, weather services and transport, told AFP.
"We would probably go into water rationing and power rationing in the next, maybe, four weeks if the situation doesn't change," he said.
"The hotels can enjoy (it) now, but we will cut off their water to the pool."
Fiji spends as much as 12 percent of its GDP on importing fossil fuels -- "a huge drain on our resources", Tuisawau said.
The country is aiming for 90 percent renewable energy generation by 2035 and plans to spend FJ$2 billion on solar and hydropower development in the next decade.
That includes investing at least FJ$460 million in solar farms in the next four years, as well as FJ$650 million on two new dams and more than FJ$700 million to expand its main transmission lines.
For now, though, many islanders are still facing the sharp end of Fiji's energy crisis, Tuisawau acknowledged.
"With the price, with geopolitical issues, and in addition El Nino right now, it's a very difficult situation," he said.
bes/oho/mjw

AI

US judge orders Saudi engineer held in OpenAI case

BY SARA BLOOMBERG

  • -'Bigger case'- Alfozan's attorneys argued in court that he was not a flight risk because he was working towards becoming a US citizen and was willing to put down $1 million worth of assets to secure his release on bail. 
  • A former OpenAI employee accused of planting a recording device at the company's San Francisco offices was ordered held without bail Monday after a federal judge deemed him a flight risk.
  • -'Bigger case'- Alfozan's attorneys argued in court that he was not a flight risk because he was working towards becoming a US citizen and was willing to put down $1 million worth of assets to secure his release on bail. 
A former OpenAI employee accused of planting a recording device at the company's San Francisco offices was ordered held without bail Monday after a federal judge deemed him a flight risk.
US District Judge Alex Tse ruled that there was "significant" risk that Abdulrahman Alfozan, 35, would fail to appear in court, rejecting his attorneys' request for release.
Prosecutors cited Alfozan's frequent contact with an unnamed member of the Saudi royal family in arguing against his release.
Alfozan, 35, appeared in court on Monday, dressed in orange prison clothing. He did not speak during the hour-long hearing.
He was arrested on October 9 and faces up to five years in prison on charges of intercepting oral communications. 
In a document filed Sunday, the US Attorney's Office alleged that Alfozan, who had worked at OpenAI since 2025, maintained frequent communications with a member of the Saudi royal family.
While the complaint against Alfozan does not allege spying activities, US Director of National Intelligence Jay Clayton implied in a statement last week that the case had national security implications. 
"The government's investigation is ongoing and may result in additional serious charges," the new court filing said, adding that the matter is "a concern for the national security of the United States."
"Whether the defendant wanted to record OpenAI meetings to enrich himself by enhancing his own business prospects, or to provide aid (to) a foreign government, or both, his conduct is criminal," the document added. 
The unnamed Saudi royal family member tried several times to recruit the engineer for an AI initiative in Saudi Arabia. 
"Saudi (Arabia) needs you more then [sic] the US," the person wrote in one WhatsApp exchange, according to the filing. Alfozan responded with "100" -- a common way to indicate agreement.
Before his arrest, Alfozan bought a one-way ticket to Riyadh for October 12, with prosecutors arguing that such a move demonstrated he was a flight risk.
Alfozan's lawyer William Pernik disputes that, saying Alfozan had a US naturalization interview scheduled on November 6. 
Alfozan's wife and their baby left the United States on October 10, the day after his arrest. 
They used tickets paid for by a Saudi military official, according to prosecutors, noting that the United States and Saudi Arabia do not have an extradition treaty.

'Bigger case'

Alfozan's attorneys argued in court that he was not a flight risk because he was working towards becoming a US citizen and was willing to put down $1 million worth of assets to secure his release on bail. 
Prosecutors suggested it could be even more lucrative for him to return to Saudi Arabia. 
"Once he leaves, there's no getting him back, the case goes away, and that is why this is a bigger case," Tse said in the courtroom.
The next hearing is scheduled for November 6.
Alfozan was caught on security footage from inside a restricted conference room where he appeared to look behind the television where a USB recording device, wrapped in toilet paper, had been placed, the Justice Department said last week.
The arrest and allegations come amid a fierce global race to dominate in artificial intelligence, which the Trump administration has pushed to be rebranded as "superintelligence."
Saudi Arabia's state-backed AI firm Humain invested $3 billion in Elon Musk's xAI shortly before the American billionaire's space company, SpaceX, acquired the AI division in February.
Now known as SpaceXAI, the division announced last year that it was teaming up with Humain to build a 500-megawatt data center in Saudi Arabia.
In 2022, a former Twitter worker, Ahmad Abouammo, was found guilty of spying for Saudi officials keen to unmask critics on the platform.
A second former Twitter employee, Ali Alzabarah, was similarly accused of helping Saudi officials but left the United States before he could be charged -- which prosecutors in Alfozan's case cited in Sunday's filing.
smb/md

AmericanSamoa

US to auction deep sea mining leases off American Samoa

  • "The message from American Samoa, and people across the United States, could not be clearer: stop deep-sea mining before it starts.
  • President Donald Trump's administration on Monday announced it had finalized a deep-sea mining auction off the coast of American Samoa, the first in the United States' history, despite widespread opposition from locals and environmental groups.
  • "The message from American Samoa, and people across the United States, could not be clearer: stop deep-sea mining before it starts.
President Donald Trump's administration on Monday announced it had finalized a deep-sea mining auction off the coast of American Samoa, the first in the United States' history, despite widespread opposition from locals and environmental groups.
The lease sales will cover approximately 31 million acres over two areas off the US Pacific archipelago, with bidding set for November 19.
"Critical minerals are no longer just commodities; they are a vital strategic asset in global competition, essential for reaching our energy efficiency goals, strengthening our national defense, and securing domestic supply chains," said Mike Olsen, acting director for the Marine Minerals Administration (MMA), which falls under the Interior Department, in a statement.
"MMA recognizes the ocean floor surrounding American Samoa carries cultural, economic, and environmental significance, requiring that the pursuit of national security and energy readiness is balanced with rigorous environmental stewardship," he added. 
The sale follows an April 2025 executive order in which Trump called leadership in deep-sea science and technology "a core national security and economic interest," and a request by US firm Impossible Metals to open leasing off the territory, which lies east of the independent nation of Samoa.
Mining companies want to scour the ocean's abyssal plains for polymetallic nodules laden with nickel, copper and cobalt. Critics fear irreversible damage, with plumes of waste smothering marine life and the thrum of heavy machinery disrupting migrations.
American Samoa banned deep-sea mining in its territorial waters in 2024, but the auction concerns the federally controlled Outer Continental Shelf beyond that limit.
In a public comment submitted in September 2026 about the auction, American Samoa Governor Pulaali'i Nikolao Pula said he "does not support commercial deep-sea mineral extraction at this time" but acknowledged the final decision rests with the US government.
"These lease sales will open the floodgates to the exploitation of our deep seas," said Oceana Defense Campaign Manager Julia Singer.
"The message from American Samoa, and people across the United States, could not be clearer: stop deep-sea mining before it starts. Thousands of scientists, local leaders, and community members have warned of the danger that deep-sea mining poses, yet the Trump administration is continuing to ignore widespread opposition to this proposal. The US government should defend the deep, not fast-track its destruction."
The area borders the vast Rose Atoll marine sanctuary, where endangered species of hawksbill turtle thrive on vibrant reefs.
ia/pnb

Global Edition

European stocks fall on unrest in France as Nasdaq bounces

  • In Italy, Prime Minister Giorgia Meloni was holding a security meeting Monday to address the Milan violence, which resembled some of the scenes of chaos and looting in Paris. 
  • Paris and Milan equities led a retreat across European stock markets Monday as escalating violence across France and street clashes in Italy's financial capital fueled concerns over elevated debt.
  • In Italy, Prime Minister Giorgia Meloni was holding a security meeting Monday to address the Milan violence, which resembled some of the scenes of chaos and looting in Paris. 
Paris and Milan equities led a retreat across European stock markets Monday as escalating violence across France and street clashes in Italy's financial capital fueled concerns over elevated debt.
Most sectors were dragged lower, while there was renewed selling of bonds and the euro.
Wall Street had a better session than Europe, with the tech-rich Nasdaq bouncing back after angst about artificial intelligence hit equities last week. The Dow finished slightly lower.
"It feels like a little bit of an oversold bounce," said Art Hogan of B. Riley Wealth Management.
Whether that rebound continues may depend on tech firm earnings and their message about AI investment as more companies report their third-quarter earnings this week.
"Earnings this week will be crucial to broader risk sentiment. In particular, (Facebook parent) Meta is in focus as the first of the five major hyperscalers to report," said Saxo UK investor strategist Neil Wilson.
In Europe, Paris stocks dropped 1.1 percent and Milan fell 1.6 percent.
"European markets reacted anxiously to scenes of severe civil unrest in several countries, highlighted by French President Emmanuel Macron's address acknowledging 'anger and shame' following one of France's worst days of unrest in years," said Patrick Munnelly at Tickmill Group.
Macron on Sunday slammed the "unbridled" violence that erupted alongside cost-of-living demonstrations across the country, as police battled protesters and looters in fresh clashes in Paris.
Nearly 2,400 people were arrested Saturday in unrest that represented some of the worst urban violence in France in years, with almost 1,000 police injured, the interior ministry said. 
It comes as the country's lawmakers wrangle over a 2027 budget plan that calls for billions of euros in spending cuts but which keeps France's debt levels extremely high.
Authorities said partial curfews would be enforced from Monday evening to Tuesday morning in a number of cities including Paris, Lille and Lyon, to protect businesses.
In Italy, Prime Minister Giorgia Meloni was holding a security meeting Monday to address the Milan violence, which resembled some of the scenes of chaos and looting in Paris. 
Elsewhere, Jakarta's stock market sank more than five percent Monday, extending Friday's plunge of more than 11 percent, to close at its lowest level in six years.
That followed a statement from compiler MSCI said it was "no longer appropriate" to maintain the country's emerging-market status, fueling fears of an exodus of foreign investment.
Among individual companies, Amazon shares jumped around five percent following a positive report from Morgan Stanley equity analysts.

Key figures at around 2020 GMT

New York - Dow: DOWN 0.1 percent at 51,966.03 (close)
New York - S&P 500: UP 0.4 percent at 7,690.73 (close)
New York - Nasdaq Composite: UP 1.1 percent at 26,430.89 (close)
Paris - CAC 40: DOWN 1.1 percent at 7,868.05 (close)
Milan - FTSE MIB: DOWN 1.6 percent at 49,086.27 (close)
London - FTSE 100: DOWN 1.1 percent at 10,764.69 (close)
Frankfurt - DAX: DOWN 1.2 percent at 25,319.77 (close)
Tokyo - Nikkei 225: DOWN 0.6 percent at 64,916.70 (close)
Shanghai - Composite: UP 0.4 percent at 3,730.92 (close)
Hong Kong - Hang Seng Index: Closed for a holiday
Brent North Sea crude: DOWN 0.3 percent at $109.55 per barrel
West Texas Intermediate: UP 2.2 percent at $103.66 per barrel
Euro/dollar: DOWN at $1.1211 from $1.1239 on Friday
Pound/dollar: DOWN at $1.3304 from $1.3327
Dollar/yen: UP at 158.55 yen from 158.02 yen 
Euro/pound: DOWN at 84.27 pence from 84.33 pence 
burs-jmb/sla

media

Christiane Amanpour to leave CNN after 43 years

  • In a memo carried by US media, CNN Chief Executive Mark Thompson praised Amanpour "for 43 extraordinary years of remarkable journalism, loyalty and friendship."
  • Veteran journalist Christiane Amanpour said Monday she is leaving her role at CNN after a 43-year career as one of the US broadcaster's most prominent international correspondents.
  • In a memo carried by US media, CNN Chief Executive Mark Thompson praised Amanpour "for 43 extraordinary years of remarkable journalism, loyalty and friendship."
Veteran journalist Christiane Amanpour said Monday she is leaving her role at CNN after a 43-year career as one of the US broadcaster's most prominent international correspondents.
"After thinking carefully for several months and experiencing a few sleepless nights, as you can imagine, I've decided to separate from CNN," Amanpour, 68, said in a statement.
Her announcement came weeks after media corporation Paramount Skydance formally took over Warner Bros. Discovery, the parent company of CNN.
That merger has drawn concerns over the independence of CNN as the merged company's owners, the Ellison family, are close allies of US President Donald Trump -- a fierce critic of the TV network. 
Amanpour did not reference the deal but emphasized her commitment to being "fiercely independent."
"That's especially important today as we face unprecedented pressures from all sides, political, financial, and also from the rising dangers in the field," she said.
British-born Amanpour first became known to the CNN audience internationally for her coverage of the 1991 Gulf War that followed Iraq's 1990 invasion of Kuwait.
She has interviewed many of the world's leaders and newsmakers over the past decades and reported from hotspots such as Iraq, Afghanistan, Pakistan, Somalia, Rwanda and the Balkans.
Amanpour said her daily news show on CNN will be scaled back to once a week until next June, while her PBS program will also end.
She added that she "looks forward to interesting new projects down the line, and will always be rooting for CNN and maintaining its history of independent journalism. Remember: always be truthful, not neutral."
In a memo carried by US media, CNN Chief Executive Mark Thompson praised Amanpour "for 43 extraordinary years of remarkable journalism, loyalty and friendship."
"Like so many CNNers who will hear the news today, I'm very sorry to see her go, but I've come to accept that this is the right time for her, both personally and professionally," Thompson said. 
bjt/pnb