The Economic Times

Gold rate, silver price were up on Friday but both precious metals were jolted by weekly losses.

Malibu fire: The fast-spreading Bryson Fire in Malibu, California, prompted the evacuation of 38 youths from a juvenile detention facility near the blaze. The youths were safely transferred to Barry J. Nidorf Juvenile Hall in Sylmar as strong winds increased wildfire risks across California. Here's what officials said about the evacuation and where the youths were taken.

Since Russia's invasion, Ukraine has heavily depended on Elon Musk's Starlink for its military communication needs. However, recent limitations on military connectivity have sparked worries regarding this reliance on private corporations. The EU meanwhile is creating IRIS, a satellite network aimed at ensuring secure communications for governmental and military use by 2029, lessening dependence on providers like Starlink.

What happened to Tyler Ulrich? Oklahoma's Southern Nazarene University is mourning football player Tyler Ulrich, who died five days after suffering a serious head injury during a college football game. His coach called the 21-year-old Southern Nazarene University student a 'man of god' and an ultimate example of quiet strength, loyal, worker, joyous.

US midterm election 2026: American voter sentiment is shifting, with many expressing frustration over President Trump's approach to significant domestic and international challenges. Polling data highlights a push for transformative leadership within the US as midterm elections draw near. The Democratic Party appears to be gaining enthusiasm, while Republicans grapple with unfavourable perceptions.

Oregon school shooting: New details have emerged in the Oregon school shooting, in which a 16-year-old gunman allegedly killed three children and a teacher at Silver Rail Elementary School in Bend. According to reports, the teen used his mother's shotgun to fire at a pickup truck before forcing his way into the school. Police are investigating the deadly rampage and its motive.

Astronomers have unveiled an astonishing white dwarf star, WD J1330+6435, that shines with a distinctive green hue. Situated roughly 280 light-years away in the constellation of Draco, its unique coloration stems from sodium that captures multiple light wavelengths due to elevated density. Additionally, a second white dwarf, WD J1011+2845, displaying a rare salmon-pink tint from carbon, illustrates the intriguing diversity and atmospheric intricacies of these celestial bodies.

On Friday, a powerful magnitude 7.0 earthquake struck near Vilyuchinsk in Russia's Kamchatka Peninsula. The European-Mediterranean Seismological Centre confirmed the intensity, and thankfully, no tsunami warning was issued. However, Japan mistakenly released a startling warning for a 9.9 magnitude quake shortly after, despite history showing only five quakes of magnitude 9 or higher have been documented. Notably, a magnitude 10 quake is deemed impossible based on current geological understanding

Mohammed bin Salman is currently grappling with increasing Houthi attacks that threaten Saudi infrastructure and international stability. The Crown Prince's appeals for support from the United States have not succeeded in securing intervention. Increased tensions have led to major airlines suspending flights to Saudi Arabia, impacting travel plans. Efforts to forge alliances with Pakistan and Turkey have yielded limited results in countering the Houthi threat.

Britains Competition and Markets Authority has proposed designating Microsoft with strategic market status over its business software, potentially enabling interventions in how it bundles products such as Excel, Teams and Copilot. The regulator is examining switching barriers, AI competition, security product bundling and licensing practices, with a final decision expected by February.

In 2009, tennis legend Pete Sampras and his wife purchased a Brentwood estate for $5.9 million. Following extensive renovations, including a lavish swimming pool, they listed the property at a higher price. Ultimately, they sold it for $7.25 million in January 2017, but unexpected renovation costs and market differences reduced their profit, showcasing the challenges of property investments.

Yami Gautam has dismissed reports that she received a hefty cheque for her cameo in Dhurandhar: The Revenge. On Madhuri Dixit's Kon Honaar Crorepati, she said working with director Aditya Dhar was priceless.

Anxiety cant be controlled before the starting line. Breaking your preparation into small tasks can help you reduce it and prepare you for D-Day.

In 2017, Big Sean purchased a mansion in Beverly Hills previously owned by Slash for $8.7 million. After four years of renovations, he sold the property for $11.1 million in 2021, achieving a profit. The renovations included updating the design to reflect a more contemporary style and enhancing the home studio. The property featured seven bedrooms, 7.5 bathrooms, and also included entertainment areas.

Jemimah Rodrigues has been named the Friendship Ambassador by Switzerland Tourism to reach Indian travellers. As a prominent cricket player, she expresses excitement about her new role and connecting with people. Switzerland Tourism's CEO noted that Rodrigues embodies the spirit of today's curious and confident Indian traveller. Their partnership aims to promote authentic experiences for those visiting Switzerland. Rodrigues looks forward to sharing her experiences with her followers in India.

In Montana, scientists implemented portable electric fencing to reduce coyote predation on endangered black-footed ferrets. The fencing successfully decreased coyote sightings from 42 percent to 7 percent, protecting ferrets during their vulnerable stages. All ferrets monitored within the protected area survived, highlighting the fence's effectiveness. The project demonstrated that temporary measures can significantly aid conservation efforts while minimizing predator interactions.

Moses Cone, the renowned industrialist dubbed the 'Denim King', transformed the landscape of North Carolina by acquiring land for his summer retreat, Flat Top Manor. After his passing in 1908, his wife, Bertha, managed the estate until 1947. Their legacy continued with the establishment of the Moses H. Cone Memorial Hospital, preserving public access, ultimately leading to the estate's incorporation into the Blue Ridge Parkway's treasured resources.

Hurricane Trudy has rapidly intensified to a Category 3 hurricane off the Pacific coast of Mexico. It is currently situated about 420 kilometers southwest of Acapulco with maximum sustained winds of 195 kph. Trudy is expected to strengthen further before approaching the coastline on Saturday. Meanwhile, Tropical Storm Simon is forecast to diminish to a remnant low very soon.

Moby's profitable house flip illustrates the allure of real estate investment in today's market conditions. His renovation efforts yielded a substantial profit, which is more remarkable than average house flippers achieve. However, the overall housing market in 2024 presents significant challenges for potential homebuyers. The median age of first-time homebuyers has risen, and homeownership rates have dropped in recent years.

Mason jar desserts, such as cakes and breads, pose serious safety concerns primarily due to the risk of botulism. Unlike traditional canning methods that ensure food safety, these jars lack the necessary precautions. The moist conditions inside the jars can foster bacterial growth silently. Experts recommend treating these desserts with caution and disposing of them properly. Instead, consider making safe dry ingredient mixes in jars, which eliminate any health hazards.

When inspecting canned goods, it's common to find a white residue that forms when hard water interacts with pectin. This sediment, especially in low-acid foods like green beans, can easily be confused with spoilage. Experts advise consumers to look out for unusual smells or container swelling before eating. Typically, this residue is harmless, helping consumers stay calm and informed about their canned food.

For cheese aficionados, the appearance of white crystals on aged cheddar can spark concerns about spoilage or mold. However, these calcium lactate crystals are a natural part of the aging process, especially in drier varieties like sharp cheddar. Studies have shown that they are commonly found in aged cheeses, and they can be easily identified by their hard, gritty texture, distinguishing them from unwanted mold.

Union Minister Rajnath Singh accused the Congress and its allies of inciting unrest and seeking regime change. He stated that the youth are being exploited for political confrontation rather than constructive initiatives. Singh emphasized the importance of respecting democratic institutions and maintaining law and order. He urged political leaders to focus on dialogue and nation-building instead of destructive politics.

An 18-month-old girl died after allegedly being pushed down a stairwell by a 10-year-old neighbor. CCTV footage reportedly showed the older child lifting the toddler before the incident occurred. The toddler was found by her brother after their mother could not locate her. The 10-year-old has been presented to the Child Welfare Committee for further inquiries. Authorities continue to investigate the circumstances surrounding the tragic death of the toddler.

An alleged mass shooting plot targeting Indian Americans at the Sri Venkateswara Swami Balaji Temple has emerged. Alexandros Paporakis, 19, was arrested after police uncovered a manifesto containing extremist ideologies and a detailed attack plan. Local officials, including Congressman Raja Krishnamoorthi, condemned the threat and called for collective action against hate. The incident has sparked concern from the Indian government and advocacy groups about rising anti-South Asian sentiment.

Anchorage witnessed a heated debate among major U.S. Senate candidates, focusing on the Iran war and energy policy. Republican Senator Dan Sullivan emphasized the need to end the war while advocating for increased Alaskan energy production. Democrat Mary Peltola criticized the war's effects on Alaskans and refuted Sullivan's claims about her effectiveness. Both candidates attempted to align themselves with critical local issues amid a challenging political climate.

Federal Reserve Chair Kevin Warsh called artificial intelligence the most consequential change to the US and global economies in his lifetime, cautioning that its near-term impact on employment remains uncertain. Speaking with IMF chief Kristalina Georgieva, he also flagged global investment growth, rising prices and the Feds commitment to price stability.

Saudi Arabia's local organizing committee confirmed that the 2027 Asian Cup preparations remain on schedule despite recent Houthi attacks. The tournament is set to take place in January, with matches scheduled in Jeddah, Riyadh, and Al Khobar. Asian Football Confederation President Sheikh Salman bin Ebrahim al-Khalifa stated that a decision could be made by the end of November. He indicated the possibility of postponing the competition to 2028 if necessary.

Hyundai Motor America is recalling 94,622 vehicles in the US over a fire risk caused by overheating seat motors. The affected vehicles include certain models from 2015 to 2020, such as Hyundai Genesis. Owners have been advised to park their cars outdoors and away from other structures until the issue is resolved. Hyundai is currently developing a remedy for the recall and estimates a 1% defect occurrence.

US Secretary of State Marco Rubio spoke with Lebanese President Joseph Aoun regarding Hezbollah's seized explosives and accountability. Aoun affirmed the Lebanese armys commitment to preventing armed displays and confiscating weapons. Rubio then urged military communication between Lebanese and Israeli forces for safety measures. Amid regional tensions, Aoun requested that the US pressures Israel to cease attacks on southern Lebanon.

Brazilian President Luiz Inacio Lula da Silva has seen a decrease in the lead of rival Flavio Bolsonaro. Poll results indicate that Lula is now at 49 percent compared to Bolsonaro's 51 percent. This shift follows Lula's efforts to enhance his social media presence and promote social measures. These developments are critical as the presidential runoff approaches on October 25.

Brent crude futures fell 41 cents, or 0.39%, to $105.51 a barrel, while US West Texas Intermediate crude futures declined 54 cents, or 0.55%, to $97.43. WTI settled up more than 3% on Thursday after a large US crude stock draw helped support prices, while Brent crude was little changed.

Discussions are ongoing regarding potential sanctions relief on shadow fleet vessels transporting legal oil and products. Companies would need to apply to the US Treasury for approval to buy these vessels. Although sanctions may be eased, freight rates are not expected to drop significantly. High tanker freight rates remain a concern for the administration amid inflation and supply issues.

Katie Zacharia, appointed as the new White House press secretary, admitted she never passed the bar exam. She graduated with a law degree from Pepperdine University in 2011, but cannot practice law without bar admission. During her first briefing, Zacharia faced criticism for the limited time and questions she handled. President Trump, however, stated that he believed she performed well during the press conference.

Gold prices slipped 0.4% to $4,152.99 per ounce in early Asian trading on Friday, as investors scrutinize the Federal Reserve's future policy after recent inflation updates. US producer prices surged the most in over four years, driven by escalating costs. Meanwhile, spot silver and platinum dipped, while palladium slightly increased amid persistent geopolitical concerns. Analysts are vigilantly evaluating how prospective rate hikes might influence gold's status as an inflationary safeguard.

The United States has imposed sanctions on 16 individuals and 10 entities connected to Iran's financial operations. US Treasury Secretary Scott Bessent stated that these measures target Iran's military funding sources and financial networks. The sanctions aim to dismantle offshore banks and shadow financiers aiding Iran's economy. Entities like the International Development Bank for Investment and Finance have been implicated in supporting Iranian activities.

Federal authorities are investigating suspicious mailings received by congressional and election offices across the country. With Election Day approaching, the mailings are deemed potentially hazardous by law enforcement. In time, US President Trump plans to host rallies in support of Republican candidates in Iowa. Candidates are also navigating fundraising challenges as the midterm elections draw near. The political landscape appears increasingly competitive with various races across states tig

Following recent geopolitical tensions and fluctuating investor sentiment, oil prices have seen a downward trend. Brent crude futures suffered a slight loss, primarily due to concerns surrounding the escalating conflicts between Saudi Arabia and the Houthis in Yemen. As discussions in the US revolve around relaxing restrictions on tankers, the International Energy Agency's proactive measure to release diesel into the market is an attempt to stabilize surging prices.

Alexandros Paporakis was arrested after planning a mass shooting at Sri Venkateswara Swami Temple in Illinois. Police acted on a tip received from Paporakis' coworkers who reported his threats against Indian people. After his gun jammed, he left the temple parking lot on the day of the intended attack. Authorities found an unregistered AR-style rifle and tactical gear at his home.

Netflix has appointed Peter Rice as the new chief content officer starting on October 26. Rice, previously at Disney, will manage the platform's content strategy, including series and films. Bela Bajaria, who served in the role since January 2023, is departing the company. This leadership change follows Netflix's announcement of laying off about 1,000 employees, representing a 6% workforce reduction.

US Iran war news: A recent Houthi attack targeted the al-Maashiq Presidential Palace in Yemen, killing five people and injuring 16 others. Following this strike, Yemen's President Rashad al-Alimi called for measures to protect government institutions. Houthi spokesperson Yahya Saree claimed responsibility for the assault, stating it targeted Saudi operations in Aden. Government forces retaliated with numerous attacks on Houthi positions, claiming significant destruction of Houthi assets.

Oregon school shooting: A shooting incident occurred at Silver Rail Elementary School in Bend, Oregon, resulting in multiple injuries. Reports indicate that the gunman was killed shortly after the shooting started, possibly by an armed bystander. According to police, victims included at least one adult and several children, some of whom were hospitalized. The school has approximately 450 students and 40 staff members, serving younger children from kindergarten to fifth grade.

US Stock Market today: Nvidia dipped 1.8 per cent after chip manufacturer TSMC struck a cautious note on 2027 despite reporting a sixth consecutive record quarterly profit on robust AI-driven demand.

USD rate: Government bonds rallied and the dollar pulled back, reflecting cautious remarks from Federal Reserve officials that further cooled expectations for an October interest-rate hike.

The scale of the ballroom project and the administrations handling of fundraising and disclosures have drawn criticism from watchdog groups and legal experts