Latest Business & Economy News Today: 9 November 2026

Goldman Sachs CEO David Solomon said Monday that demand for financing AI infrastructure remains strong even as investors reassess the risks of the build-out. He said the bank has been very active in AI capital markets deals and expects that to continue. Solomon also defended data center construction as essential to the US economy, with Anthropic's potential IPO a key test of market appetite.

Boeing said Monday it will cut about 5% of its commercial airplane workforce through attrition and layoffs because its production ramp-up is slower than expected. The company is trying to stabilize 737 Max output at about 47 planes a month and targets 52 a month in the second half of 2027. Notifications will begin in December.

Honda Motor said Monday it will invest $3 billion in a new vehicle assembly plant near Marysville, Ohio, with production expected to start in 2029 and capacity for 240,000 vehicles a year. The plant is expected to create more than 2,000 jobs and make internal combustion, electric and hybrid vehicles. Honda said it will raise US light-duty capacity to 1.3 million units annually, as automakers seek to localize production amid tariffs.

Petrol in Portugal was 9.5 cents cheaper and diesel 9 cents cheaper on Monday, the biggest fall since March. Prices in central Lisbon were €1.92 for standard 95 petrol and €2.13 for special diesel, after the government reduced an extraordinary petroleum tax discount. The minister said the trend is down but falls could be slow because of refinery damage in the Middle East, Russia and Ukraine.

Goodyear said Monday that CEO Mark Stewart would step down effective immediately, with board member Roger Wood taking over as interim CEO and president. The change comes amid a multiyear turnaround after third-quarter net sales fell 2.3% and an adjusted net loss of $31 million was reported. The company will continue a strategic review to improve efficiency and growth, while shares fell about 4% in early trading.

French Prime Minister Sébastien Lecornu announced a 1.6% rise in the minimum wage from 1 December, taking it to about 1,502 euros net a month, an increase of 24 euros. The government also outlined tax measures, including exempting overtime pay up to 10,000 euros and making value-sharing bonuses tax free, to ease employer costs. Lecornu said the measures aim to improve purchasing power and start pay-rise discussions across sectors.

CoreWeave reports results Tuesday as neocloud credit risk weighs on the AI trade, after last week's selloff contributed to the Nasdaq's steepest slump in 19 months. It relies on debt to buy AI systems, and yields on some 2031 bonds have risen above 16%. CEO Intrator said political shifts should not affect existing customer commitments, but lenders remain wary after Democrats won governors' races and voters rejected most data center measures.

The EU's IT agency EU-Lisa filed a lawsuit last year against IBM, Atos and Leonardo over delays in delivering its entry/exit border system, launched in October 2025. The system has caused long waits and missed flights at some airports, with kiosks malfunctioning and outages blamed on the technology and staff shortages. EU-Lisa said the case concerns the development phase and that the system is fully operational.

Thames Water has asked creditors to extend the deadline for repaying part of its £20bn debt from 2027 to March 2028, seeking an interim deal to avoid bankruptcy. The utility, which serves 16 million customers, is controlled by creditors after shareholders walked away in 2024 and has sought a further emergency loan. Prime Minister Andy Burnham is weighing a creditor takeover, nationalisation or another form of state control.

UK households planning heat pump, solar panel or battery upgrades face a possible rush to find installers before the 5% VAT exemption ends on 1 April. The change could add up to £1,530 to a smart home energy system, and industry groups warn it may disrupt the supply chain. Ministers are under pressure to reverse the move as demand for green upgrades reaches record highs.

European stocks showed little net reaction after Democrats took control of both US chambers, with the Stoxx 600 ending the week 0.4% above Tuesday's level. But sectors rotated: banks rose 3.2% and travel and leisure rose 3.9%, while energy fell 4.2% and technology fell 3.6%.

Europe held up better than Wall Street because its market owns fewer AI stocks and more banks, and European indices have pulled ahead of US equities this year in local currency.

Asian tech shares rebounded after a midterms rout, with the Nikkei 225 up more than 3%, Kospi sharply higher and Taiex up 5% as chipmakers rallied. Investors are testing whether the rebound is short covering or more durable after Democrats' sweep raised fears of AI regulation and data centre spending cuts. Fresh US inflation data will be key before a December Federal Reserve meeting, with markets pricing an 80% chance of a rate hike.

China's central bank said it would investigate Solana's mainland campaigns after halting planned offline events, including a cancelled Shanghai launch. PBOC backed Financial News reported that officials called Solana a virtual currency issuance platform whose promotion violated a February notice on illegal financial activities. The move extinguished hopes that Beijing's crypto crackdown was easing and underlined hostility to foreign blockchains.

Asian tech heavyweights rose on Monday, rebounding from Friday's losses amid Nvidia's probe into CEO Jensen Huang. The Taiwan Weighted Index rose as much as 6.7%, with TSMC up over 6% and Hon Hai up over 8%. Samsung Electronics and SK Hynix also gained, and South Korea said contracted Nvidia GPU deliveries were expected to proceed without disruption.

Nvidia futures and after hours shares showed prices around $180.30, down about 3.4% from Friday's close.

French private equity firm Ardian, which managed over US$200 billion as of March, is targeting quality assets in China amid a liquidity slowdown, citing lower valuations and European demand for diversification. Executive president Jan Philipp Schmitz said the firm wants mature, well established companies with strong management and free cash flow, and plans to expand its Hong Kong footprint. It has over 20 co investments in China.

Around 280 financial leaders attended Hong Kong's Global Financial Leaders' Investment Summit, the largest gathering of its kind since 2022. Officials presented the city's first five-year plan and ambitions to strengthen its position as an international financial centre while developing technology and innovation.

Chief Executive John Lee Ka-chiu said Hong Kong was adapting its economic strategy to geopolitical tensions and technological disruption.

China's producer prices rose 5.7% in October, the fastest pace since June 2022, driven by mining and raw materials and strong external demand. Consumer inflation slowed to 0.7%, below expectations, with core inflation at 0.8%. The data show external demand lifting prices while weak domestic demand linked to the property market keeps consumer inflation subdued.

Nvidia's board opened an independent probe after reports that CEO Jensen Huang was targeted by a foreign intelligence effort, with US intelligence saying Alice Huang passed information to Beijing. Huang apologized for being unfaithful to his wife, and the board said it saw no reason to believe national security or company secrets were compromised. Nvidia shares fell 5% on Monday as investors questioned his future.

Debt advice charity StepChange is urging households to budget for all Christmas costs, spread spending, set limits and check prices before buying. It advises making a shopping list before Black Friday on 27 November, booking train travel early and setting spending limits to reduce the risk of a difficult January. Charity Barnardo's warned some parents will skip meals so their children get a Christmas dinner.

Standard Chartered reported third-quarter net profit of US$1.5 billion, up 46%, and pre-tax profit of US$2.25 billion, up 27%. Operating income rose 14% to US$5.8 billion, with fee and non-interest income up 19% to US$2.8 billion. CEO Bill Winters said geopolitical fragmentation and rising wealth in Asia and the Middle East support growth, and the bank raised its full-year guidance for 2026.