Microsoft president Brad Smith told the BBC that AI systems face lighter regulatory scrutiny than a carton of milk, calling for a global safety framework with mandatory incident reporting and an emergency brake.
Posted inMarkets
Brent Crude Tops $105 and Dollar Hits 18-Month High on Middle East Tensions
Brent crude rose above $105 a barrel and the US dollar index reached its highest level since April 2025 on October 12, as Houthi attacks on Saudi airports and Strait of Hormuz risks drove energy and safe-haven demand.
Posted inEconomy
IMF Lifts 2026 Growth to 3.1% but Warns of Fraying Resilience
The IMF’s October World Economic Outlook raised 2026 global growth to 3.1 percent, driven by AI investment and durable major-economy performance, but flagged 4.7 percent inflation and a contracting Middle East.
Posted inGeopolitics
Trump Dismisses Reports of Russian and Chinese Aid to Iran
President Trump said he does not believe China or Russia are helping Iran in the ongoing war, citing the economic risks both countries face and US intelligence surveillance capabilities.
Posted inWorld
Hall and Woodford Win 2026 Nobel Prize in Economics
Robert Hall and Michael Woodford have been awarded the 2026 Nobel Memorial Prize in Economic Sciences for building the microeconomic foundations of modern macroeconomic stabilisation policy.
Posted inTech
OpenAI’s $20 Billion Revenue Gap Shows How AI Companies Count Money Differently
The Financial Times reported OpenAI’s September revenue run rate at $50 billion, $20 billion below investor estimates, sending Nvidia down 3% and AMD down 4%.
Posted inMarkets
Nvidia-Backed Firmus Scraps $5 Billion IPO After Investors Reject 600x Revenue Multiple
AI data center firm Firmus cancelled its Australian $5 billion IPO after investors rejected a $30 billion valuation roughly 600 times its fiscal 2026 revenue.
Posted inEconomy
Developing Nations Face $400 Billion Debt Wall as Bangkok IMF Meetings Open
Low-income countries owe $400 billion in 2026 debt payments with interest exceeding 10% of revenues, the IMF warned as its Bangkok annual meetings opened.
Posted inGeopolitics
Trump’s Russian Diesel Waiver Drives a Wedge Through the Western Alliance
The US Treasury’s Russian diesel waiver has split the Western alliance, with Ukraine calling the deal ‘absolutely terrible’ and Europe keeping its own bans fully in place.
Posted inWorld
Pakistan Imposes Emergency in Imran Khan’s Stronghold Ahead of Islamabad March
President Zardari declared emergency rule in Khyber Pakhtunkhwa on Sunday, arresting PTI’s chief minister as supporters prepared a march on Islamabad.