The Economic Times

On Friday, gold prices experienced a modest uptrend as investors weighed concerns about inflation alongside potential interest rate hikes by the Federal Reserve. Spot gold saw a 0.3% increase, while US gold futures for December rose by 0.4%. St. Louis Fed President Alberto Musalem hinted at the necessity for further rate adjustments to combat inflation.

The United States has announced a new round of sanctions against Iranian entities and individuals involved in oil trade. These actions focus on disrupting Iran's oil revenues and targeting its sanctions-evasion networks. The Treasury identified 27 companies, six individuals, and 22 vessels in its sanctions list. The measures are part of Operation Economic Outcast and seek to diminish Iran's economic lifelines.

Hurricane Isaias is predicted to become a dangerous storm as it approaches the Gulf Coast. Preparations are underway, including evacuations and securing boats in coastal areas. The hurricane could bring severe weather, including high winds and heavy rainfall, affecting multiple states. Oil production is also being impacted significantly due to shut down operations in the Gulf. Communities are urged to prepare as conditions are expected to rapidly deteriorate.

PepsiCo plans to raise prices on certain snack foods and beverages due to increased costs. The price increase will be in the single-digit percentage range, although it remains lower than earlier this year. Consumption patterns indicate demand in their international market, contributing to a revenue rise of 5.6%. However, the North American beverage business continues to struggle, leading to adjusted earnings expectations.

Donald Trump presented Elon Musk with the top US science medal on Thursday, as the rocket tycoon fully returned to the president's orbit after an explosive bust-up. Trump and Musk gave an amiable if awkward performance on Thursday, with president patting the tycoon on the back and giving him a wooden case containing his medal.

Meta has implemented an immediate ban on advertisements from ByteDance across its platforms in multiple countries. This decision affects various locations including the US, Canada, and Japan. The ban also targets related third-party advertisements referencing TikTok and other ByteDance services. In response to this rivalry, Meta asserts that it will continue competing on quality and user experience. TikTok has yet to publicly comment on Meta's advertising ban and actions.

The US military will execute Nidal Hasan by firing squad at Fort Hood. Hasan, responsible for the 2009 Fort Hood shooting, will be the first to face this execution method since 1945. Defense Secretary Pete Hegseth announced that the execution will be made public and livestreamed. This decision underscores the seriousness of the consequences for such actions in the military.

A Bitcoin stash worth about $29 when mined in 2010 has moved for the first time in roughly 16 years. The 100.02 BTC was transferred on October 7 and was worth around $8.3 million at the time, with the coins sent to two new addresses.

OpenAIs annualized revenue reached about $50 billion at the end of September, nearly $20 billion below earlier reports. The update sent Nvidia, Oracle and CoreWeave shares lower, while new figures showed OpenAIs revenue run rate had still grown more than 70% since the start of the third quarter.

The Moon has a new man-made crater. A discarded SpaceX Falcon 9 stage struck the lunar surface on August 5, 2026, near Einstein Crater. NASA, South Koreas Danuri orbiter and Earth-based telescopes tracked the impact. Scientists are now studying the debris and chemical clues to better understand lunar impacts.

PwCs Pratik Jain said the GST Councils latest measures mark the third phase of the tax reform, shifting focus to bolder policy changes and ease of doing business. He said wider refunds for input services and capital goods, along with ITC on employee insurance, could ease working-capital stress and lower costs.

Deloitte Indias MS Mani said the latest GST reforms reflect growing trust between government and industry, with technology enabling simpler compliance and more targeted enforcement. He said easier registration, annual returns with quarterly payments, return corrections and removal of arrest provisions could reduce compliance fears and bring more businesses onto the GST platform.

EY partner Bipin Sapra said the GST Councils latest reforms address input tax credit blockages, expand refunds, support exporters and streamline tax administration. He said rationalising Section 17(5) could reduce tax cascading and costs for businesses, while decriminalisation and removal of arrest powers should create a more conducive business environment.

From its rollout in 2017 to GST 2.0, Indias goods and services tax has evolved into a more digitised and predictable tax regime. Over nine years, the system has seen changes in tax rates, slabs, compliance and technology, reshaping how businesses manage indirect taxes and interact with the tax administration.

Apple is set to unveil several smart home products at its upcoming event on October 13, including a smart home hub. This new hub is expected to have a 6-inch display and will combine various functionalities. Updates to the HomePod mini and Apple TV 4K are also anticipated, featuring improved technology and capabilities. The event will take place in New York and may include a hands-on experience for media members.

A shipment containing sensitive F-35 components was mistakenly routed through Hong Kong due to a communication failure. The parts were initially supposed to travel through South Korea and Taiwan, which are US allies. A missed warning from a freight forwarder, indicating US export restrictions, allowed the error to occur. US authorities are investigating the circumstances of the routing and its implications for military supply chains.

Fast Retailing, the owner of Uniqlo, has recorded a 32% boost in yearly profit fueled by soaring sales. The company has reached a key milestone as North America and Europe now outpace China in market size, addressing the challenges presented by declining sales in the Chinese market.

Chipotle stock jumped after a report that Starbucks has explored a potential takeover of the Mexican fast-casual chain. Heres what the reported interest means for CMG stock, Brian Niccols connection and Chipotles international expansion plans.

Sean Diddy Combs is serving a 50-month sentence at FCI Fort Dix due to his recent conviction. Reports indicate he leads a luxurious life behind bars with special treatment from others. Combs allegedly has people cooking for him and providing massages while serving his sentence. He has been seen using a contraband cellphone for personal purposes, which raises security concerns.

Columbus Day 2026 is set for Monday, October 12, and will be recognized as a federal holiday. As a result, all federal offices and courts will be closed, while the U.S. Postal Service will not deliver regular mail. Many private businesses, including grocery stores and restaurants, will remain open, though hours may vary. Banks may also alter their operations, reflecting the status of Columbus Day as a Federal Reserve holiday.

Four Chinese zodiac signs may finally feel life getting calmer after October 9.The Fire Dragon Destruction Day helps Rooster, Rat, Monkey and Dragon clear stress, set stronger boundaries and regain control.

The Trump administration has opened direct talks with Myanmars military-installed government, US officials said, marking a shift from Washingtons post-coup isolation policy. Talks led by Assistant Secretary Michael Vance initially focused on shutting scam centres targeting Americans and securing an Americans release, but could expand to Myanmars rare-earth resources.

Microsoft stock fell nearly 2% as the US targeted Microsofts green card filings for H-1B workers, while Italy opened an investigation into Microsoft-owned gaming companies over virtual currencies, consumer protection and gaming practices.

The Trump administration has suspended major tech companies from applying for permanent residency for foreign workers. Various companies, including Microsoft and Adobe, have been accused of abusing the H-1B visa program. U.S. Vice President JD Vance claimed that Microsoft replaced laid-off American workers with foreign workers. Labor Secretary Keith Sonderling stated that nearly 3 million foreign workers were requested by these companies.

'Something weird is going on': JD Vance announces probes into colleges for potential visa fraud

With the midterm elections approaching, only 30% of Trump voters express strong enthusiasm about voting. In contrast, 48% of Harris voters are very enthusiastic, indicating a significant gap. This discrepancy may affect overall voter turnout in the upcoming elections. Meanwhile, Trump's approval rating has reached a record low, which is impacting his supporters' motivation. Addressing these challenges is crucial for both parties as they prepare for November 3.

Student loan borrowers may get a valuable tax break in 2026. The IRS still allows eligible taxpayers to deduct up to $2,500 in student loan interest from income. But the full benefit is not available to everyone. As income rises, the deduction gradually shrinks and can disappear once certain limits are reached.

The Weekly October Horoscope highlights one especially lucky day for every zodiac sign between October 12 and 18, 2026.Career opportunities, partnerships and moments of clarity could create important turning points during the week.

Vice President JD Vance announced that Microsoft has been suspended from the skilled foreign worker visa program. This decision coincides with President Donald Trump's intention to accolade tech giants, including Microsoft CEO Satya Nadella. Vance condemned Microsoft's actions, stating their layoffs of U.S. employees contradict their reliance on H-1B visas, suggesting they misused the system.

Tadaryl Shipp, aged 49, is serving a life sentence for the murder of Colleen Slemmer. He and ex-girlfriend Christa Pike were convicted in 1996 for this horrific crime. While Shipp could be eligible for parole in October 2025, his previous denial was due to the crime's severity. Christa, sentenced to death, survived a failed execution, and ongoing legal matters concern evidence preservation and potential sentence commutation.

Documents reveal the FBI tracked Susie Wiles' communications with various individuals after the Mar-a-Lago raid. The agency also monitored the movements of Donald Trump, Melania Trump, and Barron Trump before the search. Details were obtained about their travel plans and timing for carrying out the FBI raid. Investigators expressed concerns regarding the legal authority to search certain areas of Mar-a-Lago.

NASA has released more than 800GB of Artemis II Moon data, including 11,000-plus images and videos, 8.5 hours of astronaut audio and crew annotations. The release also documents five faint flashes spotted on the Moon as the astronauts observed its surface during their lunar flyby.

Microsoft green card h1b visa program suspension: Microsoft is based in Redmond, Washington, near Seattle. Vice President JD Vance said Microsoft last year laid off 6,000 American workers but also obtained 6,300 H-1B visas and almost 3,000 green cards.

The United States has imposed sanctions on Iran's shadow fleet of tankers transporting oil. These sanctions target 17 vessels linked to the Iranian economy's petroleum sector. The move aims to reduce funding for Tehran's regional operations amid ongoing tensions. Treasury Secretary Scott Bessent emphasized the sanctions' importance in countering Iranian military actions. President Donald Trump also stated there will be no further military attacks before the midterm elections.

Mounting Russian strikes that have pummelled the Ukrainian capital, hitting bridges and key infrastructure, have plunged Kyiv into survival mode ahead of the winter, the city'on Thursday. Three people were killed in Russian strikes in Kyiv on Thursday.

For Americans earning money while living and working abroad, one of the biggest 2026 tax changes is the higher foreign earned income exclusion. The IRS has raised the limit to $132,900, up from $130,000 in 2025. That means eligible taxpayers may be able to exclude up to $132,900 of foreign earned income from U.S. federal income tax.

Voters in Texas need to be aware of key dates leading up to the 2026 midterm elections. The deadline for voter registration is October 5, which is rapidly approaching. Early voting will take place from October 19 to October 30 across various counties. Voters intending to use mail ballots must submit their applications by October 23. Election Day is scheduled for November 3, with polls open from 7 a.m.

Charlie King, affectionately known as Chicken Finger, died at just 25, confirmed by Rocket City Championship Wrestling. This heartbreaking news comes shortly after WWE star Benjamin Satterley, aged 40, was found unresponsive outside a restaurant, leaving fans in shock. While investigations into Satterleys untimely death are underway, authorities suspect no foul play.

The involvement of Trump associates James Blair and Chris LaCivita in advising Milorad Dodik has raised ethical concerns. Their work for Dodik took place amid significant political changes in Bosnia and Herzegovina. While Dodik previously faced U.S. sanctions, the Trump administration lifted them, creating a complex political scenario. This relationship has allowed Dodik to demonstrate connections with influential figures in U.S. politics.

A new Reuters poll has raised questions about Donald Trump Republican voter enthusiasm ahead of the 2026 midterm elections, with only 30% of Trumps 2024 voters saying they are very enthusiastic about voting, compared with 48% of Kamala Harris voters. The findings could pose a challenge for Republicans as Trump urges his supporters to treat the midterms as a referendum on his presidency.

EU officials are raising alarms over the escalating trade deficits with China, exceeding one billion euros on a daily basis. The spike in Chinese hybrid-car exports underscores possible gaps in EU tariff policies. Although talks are underway, China shows little willingness to engage in voluntary export restrictions for select products. EU leaders are now considering a 'kill switch' mechanism.

The United States has confirmed it will not engage in military actions against Iran before the upcoming midterm elections. A naval blockade remains enforced around Iranian ports, despite ongoing discussions between the two nations. Iran seeks to address the blockade and resume nuclear talks, while the US insists on limiting Iran's nuclear capabilities. Recent proposals from Iran were rejected by the US, highlighting the complexity of negotiations.