Business

French fishermen have agreed to lift their blockades at fuel depots and ports, including Nice, after talks with the government over financial aid. They say soaring fuel prices since the start of the war with Iran are pushing them to the brink. Also in the segment: India could be hit by fresh US tariffs if it keeps buying Russian oil. US lawmakers approved a new sanctions package that ratchets up the economic pressure on Moscow and its trading partners.  

The US central bank raised its benchmark rate by .25 percent, with new Fed Chair Kevin Warsh defying President Donald Trump's desire for lower rates. Consumer banks and bond markets react. Also, OpenAI reveals new incidents of AI misconduct as fears grow that the technology could escape human control.

The US Federal Reserve has raised its key interest rates for the first time in three years, as it seeks to bring down high inflation. The policy decision sets up a potential confrontation between Chairman Kevin Warsh and President Donald Trump, who has repeatedly called on the central bank to cut interest rates. Also in this segment: France extends fuel subsidies as fishermen’s protests gather momentum, and Hong Kong seeks to fall in line with Beijing's economic vision. 

People in the single-currency Eurozone have been invited to vote on the designs of upcoming euro bank bills. Proposed designs include historic figures like Marie Curie and Leonardo da Vinci, as well as a vertical format. They are expected to enter circulation around 2030. But first, as higher fuel prices stemming from the Iran war hurt consumers, fishermen in southern France scuffled with police as they tried to blockade an oil depot. 

Nigerian billionaire Aliko Dangote launched the biggest-ever share sale on the African continent, listing 4.1 billion shares in his Lagos refinery on the stock exchange.  He framed it as a "people's IPO" to give all Nigerians a chance to share the plant's wealth potentials. Trading is expected to start in November. Meanwhile, global oil prices continued to advance as attacks by Yemen's Houthi rebels forced Saudi Arabia to shut down its East-West oil pipeline.