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Top Overnight News
New York City Mayor Eric Adams dropped his bid for re-election: X
Trump will host Israeli Prime Minister Benjamin Netanyahu at the White House on Monday, with the U.S. president pushing a Gaza peace proposal after a slew of Western leaders embraced Palestinian statehood in defiance of American and Israeli opposition. RTRS
US President Trump posted an image of himself “firing” Fed Chair Powell, via Truth Social.
SEC’s Paul Atkins says he will fast-track Trump’s proposal to allow companies to report earnings on a semi-annual basis instead of quarterly (companies will have the option to continue posting quarterly results if they so choose). FT
US President Trump said he will discuss the looming government shutdown with congressional leaders on Monday and believes Democrats may want to make a deal; he added that if Democrats refuse to make a deal, "the country closes", according to Reuters. US President Trump will meet with the congressional leaders at 20:00BST/15:00ET: Punchbowl
Electronic Arts (EA) is near a roughly USD 50bln deal to go private: WSJ.
Chinese factory workers are facing harsh conditions while racing to produce Apple’s (AAPL) new iPhone 17 lineup: China Labour Watch.
US Vice President JD Vance said he is confident the US has separated TikTok from ByteDance: RTRS
Occidental Petroleum (OXY) is said to be in talks to sell its OxyChem petrochemical unit in a deal worth at least USD 10bln: FT.
Fed’s Hammack reiterated her somewhat hawkish policy view in remarks on CNBC Mon morning, warning that inflation risks remain elevated. More difficult to see that tariffs will be a one-time impact. Need to maintain restrictive policy, current policy is mildly restrictive. Short distance from neutral. Will not get to 2% inflation target until late 2027 or early 2028. CNBC
The ECB’s Gabriel Makhlouf told the FT that the central bank is “near the bottom” of its rate-cutting cycle. FT
Alibaba’s new Qwen3-Omni multimodal artificial intelligence system has quickly become the most popular model in the world’s largest open-source AI community, challenging closed systems from OpenAI and Google while underscoring the growing popularity of Chinese open AI systems. SCMP
China’s ruling Communist Party will convene a closed-door meeting from Oct. 20 to 23 to review development plans for the next five years. BBG
China has slashed its annual output growth target for key non-ferrous metals over 2025 and 2026, underscoring a policy shift from volume expansion to efficiency and sustainability. BBG
A dovish Bank of Japan board member said on Monday the need for an interest rate hike was increasing "more than ever," adding to signs of a hawkish shift on the board that heightens the chance of a rate increase as early as October. RTRS
Huawei aims to double output of its most advanced AI chips over the next year, as part of a plan to unseat Nvidia in China, people familiar said. BBG
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