Telecom stocks on both sides of the Atlantic slumped on Friday after SpaceX agreed to buy US mobile spectrum, with Deutsche Telekom down about 8% even as the DAX rebounded 1.1% and Brent eased to around $103 a barrel. Canada unexpectedly lost 68,000 jobs in September, US consumer sentiment fell to its second-lowest reading on record, and the Bank of Spain raised its growth forecast while warning of 3.9% inflation this year.

Spain

Bank of Spain lifts its growth forecast to 2.6% but sees inflation averaging 3.9% this year. In projections published on Friday, the central bank raised its 2026 GDP growth estimate by three tenths to 2.6% and its 2027 figure by half a point to 2.2%, citing strong consumer spending, and expects growth of around 0.6% in the third quarter. It also raised its inflation forecasts to 3.9% for 2026 and 3.7% for 2027, driven by the energy shock, and warned that headline inflation could be near 5% at year-end once temporary tax cuts on energy are stripped out. For households, that means wages and savings will keep losing purchasing power unless pay rises keep up, especially when energy tax relief and public-transport discounts end in early 2027. (Europa Press / Infobae, El Conciso, Bank of Spain)

Emergency housing decree takes effect, letting tenants extend their leases. The government’s housing decree came into force on Thursday, October 8, after publication in the official gazette (BOE). Tenants whose main-home leases expire before December 31, 2028 can ask for an extension, and the decree also strengthens protection against eviction and limits home purchases by large investors. Because parliament is dissolved ahead of the November 29 election, its standing committee must approve the decree within 30 days, so renters face some uncertainty over whether the relief will stick. (elDiario.es, El Independiente)

Catalonia

Barcelona moves to raise property tax by up to 150% for owners of several tourist flats. The city council’s economy committee on Friday approved changes to the 2027 tax bylaws that add a 150% surcharge to the IBI property tax for holders of four or more tourist-flat licences (around 6,000 licences) and 100% for those with two or three, with PSC, BComú and ERC in favour, Junts abstaining and PP and Vox against. The measure now opens for public objections and needs final approval at the December plenary; reports put the expected revenue at about €7 million a year for protected housing. It raises costs for professional short-let operators ahead of the city’s plan to phase out tourist-flat licences by 2028. (betevé, Europa Press / PressDigital)

TransPerfect plans to lay off 208 Barcelona staff after losing an Apple AI contract. The translation and data company on Thursday filed a collective dismissal affecting 266 data annotators in Spain, 208 of them in Barcelona, who rated answers produced by Apple’s AI models; the company says that contract has ended. Severance is set at 20 days’ pay per year worked, while the majority union FIST argues the cuts are retaliation for a pay-discrimination complaint. The case shows how jobs created around AI services can disappear quickly when a single client leaves. (ON Economia, Alicante Plaza)

France

Strike halts fuel shipments at several TotalEnergies refineries. A 24-hour strike on Thursday stopped fuel leaving the Normandy (Le Havre), Donges and La Mède sites, according to the CGT union, which is demanding a €200 monthly pay rise for all staff and more permanent jobs. TotalEnergies said fewer than 2% of its employees took part and that it continues to supply its filling stations through other logistics. With pump prices already high, any prolonged disruption would be a risk for drivers. (AFP / Boursorama, franceinfo)

Airbus delivered 72 jets in September. The Toulouse-based planemaker said on Thursday evening it handed over 72 aircraft last month and booked 17 gross orders. Airbus is one of France’s largest industrial employers, and investors are watching whether it can hit its annual delivery target, which drives its cash flow and supplier orders. (Boursorama, ABC Bourse)

United Kingdom

Bailey calls for credible debt plans as UK borrowing costs climb. Speaking in Istanbul on Thursday, Bank of England Governor Andrew Bailey said credible plans to reduce public debt are “needed more than ever”, as a global bond sell-off driven by oil prices pushed UK government borrowing costs to their highest in decades; he described market moves as “some way from normal” but not yet stressed. Fellow policymaker Megan Greene said it would be “dangerous” to rely on high bond yields to contain inflation, and markets expect a rate rise to 4% in November. Higher gilt yields feed into fixed mortgage rates and the cost of government borrowing ahead of the October 28 budget. (Bank of England, Reuters / Euronext, Reuters / Investing.com)

Germany

Deutsche Telekom slumps about 8% after SpaceX buys US mobile spectrum, while the DAX rebounds. Deutsche Telekom was the DAX’s worst performer on Friday, closing down roughly 8%, after SpaceX agreed to buy a nationwide portfolio of low-band US spectrum that could turn Starlink into a mobile competitor to T-Mobile US, in which the German group owns a majority stake. The wider DAX still rose 1.1% to 25,087 points, back above 25,000, as oil eased and software shares such as SAP rallied. Deutsche Telekom is one of Germany’s most widely held shares, so the drop hits many retail savers and pension funds. (Dow Jones / finanzen.net, Die Bewertung)

Exports dip 0.8% in August as shipments to the US fall. Destatis said on Thursday that exports slipped 0.8% from July to €137.6 billion while imports rose 0.9%, shrinking the trade surplus to €19.5 billion. Exports to the United States dropped 6.3% on the month, while imports from China jumped 11%. Weaker foreign sales weigh on Germany’s export-dependent factories and the jobs they support. (Destatis, IndexBox)

Italy

Industrial output falls 1.3% in August, with textiles and chemicals hit hardest. Istat said on Friday that industrial production dropped 1.3% from July and was flat on a year earlier, with only energy output growing. Textiles, clothing and leather fell 14% year on year and chemicals 11.4%, while electricity and gas supply rose 14.5%. The weakness in manufacturing, as high energy costs bite, puts pressure on factory jobs in Italy’s industrial north. (Teleborsa, Il Fatto Quotidiano)

Key Monte dei Paschi shareholders back Intesa’s bid as Unipol plans a €2.5 billion share sale. On Thursday the Benetton family’s Edizione said it will tender its 1.45% stake in Monte dei Paschi to Intesa Sanpaolo’s offer, while Caltagirone’s holding, which owns 13.5%, voted against all items for MPS’s October 29 shareholder meeting. Insurer Unipol approved a rights issue of up to €2.5 billion to buy 635 MPS branches if the bid succeeds. The deal would reshape Italian banking and affect competition on loan and deposit rates. (Fortune Italia, Wall Street Italia)

Portugal

Parliament approves income-tax cuts in the first six brackets for 2026. Lawmakers on Friday approved the government’s bill lowering IRS rates by 0.3 points in the first and sixth brackets and 0.5 points in the second to fifth, applying to all 2026 income; PS, BE and Livre abstained and PCP voted against. The relief is expected to show up in November pay slips through revised withholding tables, and EY simulations for ECO put annual savings at up to about €171 for some taxpayers. A separate update of tax brackets is planned in the 2027 budget. (ECO, Lusa / Notícias ao Minuto)

United States

AT&T, Verizon and T-Mobile tumble after SpaceX buys mobile spectrum. Shares of the three big US carriers fell about 7% at Friday’s open after SpaceX agreed to buy nationwide 800 MHz low-band licences from investment firm Grain Management, reportedly for about $8 billion in cash, to help its Starlink Mobile service reach phones indoors; the deal still needs FCC approval. Tower owners Crown Castle and American Tower rose. A new competitor could eventually mean lower phone bills for consumers, but the sell-off hits the many pension and dividend funds that hold telecom stocks. (Forbes, Benzinga)

Consumer sentiment drops to its second-lowest reading on record. The University of Michigan’s preliminary October index fell to 46.3 from 48.1, below forecasts, and its gauge of current conditions hit a record low, while year-ahead inflation expectations rose to 4.7%. Gasoline averaging about $4.37 a gallon, some 40% higher than a year ago, is weighing on household moods. Gloomier consumers tend to spend less, and rising inflation expectations add to pressure on the Fed, which raised rates in September. (Investing.com, Benzinga)

Canada

Canada unexpectedly sheds 68,000 jobs as unemployment rises to 6.5%. Statistics Canada said on Friday that employment fell by about 68,300 in September, a second straight monthly decline, against analyst expectations of a small gain; health care, social assistance and education led the losses, and youth employment dropped by 48,000. The participation rate fell to 64.8%, while hourly wage growth for permanent employees picked up to 2.3%. It is the last jobs report before the Bank of Canada’s rate decision at the end of October. (Statistics Canada, Reuters / CP24, Canadian Press / BNN Bloomberg)

Stelco begins layoffs in Hamilton as Ottawa threatens legal action against its US owner. Layoff notices started going out at the steelmaker this week, with the first cuts taking effect on Sunday; the company plans up to 500 job cuts across its Hamilton and Lake Erie sites, blaming a “trade crisis”, weak demand and imports. Industry Minister Mélanie Joly has threatened legal action if owner Cleveland-Cliffs does not show how it will honour job commitments made when it bought Stelco in 2024. The cuts show how the trade dispute with the United States is costing Canadian factory jobs. (Canadian Press / BNN Bloomberg, CBC)

Mexico

Inflation rises to 3.45% in September, led by food prices. INEGI said annual inflation picked up from 3.26% in August, with prices rising 0.42% in the month as tomatoes, onions and school fees climbed, while core inflation eased to 3.75%. The figure remains inside the Bank of Mexico’s tolerance range around its 3% target. Higher food prices hit lower-income households hardest, but easing core inflation gives the central bank some room in its debate over a possible rate cut. (Europa Press / Infobae, La Razón)

Banxico minutes reveal a split board, with some members open to a rate cut. Minutes published Thursday of the September 24 meeting, when the Bank of Mexico kept its key rate at 6.50%, show several board members saying a small cut could be discussed if inflation keeps easing, while others favoured holding or warned about pressure on the peso. A cut would make credit cheaper but could weaken the peso, since the gap between Mexican and US rates is already unusually narrow. (El Financiero, Bloomberg Línea)

Brazil

Inflation jumps 0.82% in September, pushing the annual rate above the target ceiling. IBGE said on Friday that consumer prices (IPCA) rose 0.82% in the month, above forecasts and the highest monthly rate since March, taking 12-month inflation to 4.58%, just over the 4.5% upper limit of the central bank’s target range. Electricity bills jumped almost 8% after a one-off Itaipu discount ended, airfares rose 9.7% and food prices climbed again, led by tomatoes and potatoes. The data strengthen the case for the central bank to keep borrowing costs high. (Agência Brasil, InfoMoney)

Argentina

Government moves to sell 90% of water company AySA for about $340 million. Bids for the state water and sewage company were opened on Thursday, with a consortium led by Rowing offering $340.2 million for 90% of the shares, ahead of a Roggio-led group at $285 million; workers keep the remaining 10%. The new operator must carry out an investment plan of about 2.89 trillion pesos over 2027–2031 to expand water and sewer coverage. The sale is a centrepiece of President Javier Milei’s privatisation drive, though critics worry it could lead to higher water bills. (Government of Argentina, La Nación)

Country risk eases further as bonds and stocks gain. Argentina’s country-risk premium fell to around 584 points on Friday morning, extending Thursday’s recovery, as the Merval stock index rose and dollar bonds edged higher, helped by gains on Wall Street and in São Paulo. A lower risk premium makes it cheaper for the state and Argentine companies to borrow abroad, which the government is counting on to refinance bonds due in 2027. (Infobae, Río Negro)

Morocco

Tourist arrivals reach 15.7 million by end-September, up 5%. The tourism ministry said on Thursday that 15.7 million visitors arrived between January and September, about 717,000 more than a year earlier, with September alone bringing more than 1.5 million arrivals, up 8%. Tourism is one of Morocco’s main sources of foreign currency, so steady visitor numbers help support jobs in hotels, transport and retail. (Médias24, Hespress)

Egypt

Fitch affirms Egypt at ‘B’ with a stable outlook. The rating agency kept Egypt’s credit rating unchanged on Thursday, citing stronger foreign-currency buffers after gross reserves rose $5.5 billion in the first eight months of 2026, while noting that foreign investors pulled more than $6 billion out and the pound fell about 14% after the Iran war began. Fitch expects inflation to average 12.3% in fiscal 2026/27 and warned that interest payments absorb about 63% of government revenue. A steady rating helps contain borrowing costs, but costly energy imports and the debt burden limit relief on prices for households. (Investing.com, Egypt Independent)

Nigeria

Nigerian stocks lose N1.33 trillion in a day as oil shares are sold off. The NGX All-Share Index fell 0.82% to 248,042.50 on Thursday, cutting market value from N162.39 trillion to N161.05 trillion, as Aradel Holdings and Eterna dropped the daily maximum of 10% and the oil and gas index sank 3.87%; MTN Nigeria, Fidelity Bank and UBA also declined. The slide extends a losing streak that began on Monday and erodes the savings and pension portfolios of Nigerian investors. (Nairametrics, The Will)

South Africa

Latest data point to a smaller November petrol hike than first feared. Early Central Energy Fund figures had suggested petrol could rise by about R4.50 a litre in November, but daily data released on Wednesday and Thursday show petrol under-recovering by only about R1.27–R1.35 a litre and diesel roughly flat. Analysts stress the numbers are unaudited and the final adjustment, due on November 4, depends on oil prices and the rand for the rest of October. A smaller rise would ease pressure on motorists already paying record prices and on the Reserve Bank’s inflation outlook. (IOL, Scrolla.Africa)

China

China and the EU reach an understanding on hybrid car exports. After two days of talks in Beijing ending on Friday, China’s commerce ministry said both sides had reached an understanding on hybrid vehicle trade and would explore lower tariffs on some goods; EU trade chief Maroš Šefčovič said it includes halving Chinese exports of hybrid and plug-in hybrid cars to the EU, calling it a “first step”, though no timetable was given. China also pledged to keep easing export licences for rare earths and magnets, which European factories depend on. The deal could ease the risk of a wider tariff fight that would raise prices for consumers in both regions. (AP / KSAT, CnEVPost, Bloomberg)

Central bank says it has no intention of weakening the yuan to boost exports. In a paper published on Thursday, the People’s Bank of China said the country has “no need or intention” to weaken its currency for a trade advantage. The statement came as the talks with the EU began, with Europe pressing for a stronger yuan to reduce its large trade deficit with China. The exchange rate determines how cheap Chinese goods are abroad and whether trade tensions escalate. (SCMP, Reuters / The Standard)

Japan

Household spending falls for a ninth straight month despite rising real wages. Data released on Friday showed household spending fell 3.1% in August from a year earlier, a smaller drop than the 3.6% markets expected, but rose only 0.1% from July against a forecast of 0.5%. With real wages up for eight months in a row, the Bank of Japan must judge whether pay gains are reaching consumers before raising interest rates again. (Reuters / Investing.com, investingLive)

India

Sensex jumps 879 points as IT stocks lead a rebound. The BSE Sensex closed Friday up 1.23% at 72,472 and the Nifty 50 rose 1.3% to 22,520, with IT shares the top gainers after a strong start to the quarterly results season and cheaper oil following signs that US military action against Iran is unlikely before the midterms. Foreign fund outflows and high global bond yields remain headwinds, and India’s September consumer inflation data are due on Monday. (Business Standard, India TV News)

TCS lifts quarterly profit about 15% and pays a ₹12 dividend. Tata Consultancy Services, India’s largest IT company, reported on Thursday that July–September net profit rose roughly 15% from a year earlier to about ₹13,900 crore, with revenue up 11.2% to ₹73,188 crore. It declared an interim dividend of ₹12 a share, payable on October 30. The results matter for the many Indian savers and retirement funds that hold IT stocks. (Business Today, IANS / DT Next)

South Korea

Chip boom delivers the second-largest current-account surplus on record. The Bank of Korea said on Thursday that the August current-account surplus reached $46.11 billion, second only to June’s $49.73 billion, as goods exports topped $100 billion for a third month and semiconductor exports roughly tripled from a year earlier. The inflow of dollars helps support the won, which makes imported fuel and goods cheaper for Korean households. Korean markets were closed on Friday for Hangul Day. (Herald Business, Seoul Economic Daily)

Middle East

Oil eases on Friday as Trump rules out strikes before the midterms, but Brent stays above $100. Brent slipped about 1% to around $103 a barrel on Friday after President Trump spoke of “productive” discussions with Iran and said the US would not attack before next month’s midterm elections, though it remained on course for a weekly gain after Thursday’s 4% jump on tanker attacks in the Strait of Hormuz. Hurricane Isaias, which has shut in a large share of US Gulf of Mexico output, and new US sanctions on vessels carrying Iranian crude keep supply risks high. Prices far above year-ago levels mean fuel and freight costs for importing countries are likely to stay elevated. (The National, Infobae)

Gulf stocks slump as attacks on Hormuz shipping reach a wartime high. Saudi Arabia’s main index fell 1.6% on Thursday, its biggest one-day drop since March, to a six-month low, while Qatar’s index lost 2.2% to its lowest since 2020 and Dubai and Abu Dhabi fell 1.7% and 1.6%. Large banks such as Saudi National Bank and Qatar National Bank led the losses as tanker attacks and stalled US–Iran talks hit confidence. The declines hurt Gulf savers and pension funds despite high oil revenues. (Reuters / Business Recorder, Investing.com)

Australia

AI data-centre firm Firmus pulls its planned share listing. Nvidia-backed Firmus withdrew its ASX listing application on Friday, a day after closing its books to investors, in what would have been a major float for the local market; the company blamed market volatility, while fund managers said the price was too high and pointed to heavy borrowing plans. Firmus investor Maas Group requested a trading halt. The setback is a warning sign about AI valuations for Australian investors and superannuation funds. (ABC News, Market Index)

Sources & method

Compiled by The Daily Economy editorial team with AI assistance from the sources linked in each item, cross-checked in at least two outlets, and updated several times a day. Read our editorial policy.