- KKR’s profit beats forecast on credit-led inflows, one-off charge weighs Reuters
- KKR & Co. Inc. Reports Third Quarter 2025 Results TradingView
- KKR & Co. (KKR) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates Yahoo Finance
- KKR Q3 earnings beat, helped by strong fundraising, increased investment activity MSN
- KKR surpasses $700 billion in AUM, co-CEO sees ‘nothing alarming’ in private credit markets Pensions & Investments
Category: 3. Business
-
KKR’s profit beats forecast on credit-led inflows, one-off charge weighs – Reuters
-
The Tube presenter, the former ballerina and the banker: the BBC board’s members | BBC
Samir Shah, 73, chair
Term: 2024–2028
Fees: £160,000 pa
Background: Former CEO of Juniper, an independent television and radio production company. Previously head of current affairs and political programmes at the BBC. Shah has been deputy chair of the V&A, chair of the Runnymede Trust and One World Media. In 2021, he co-authored a government-commissioned report that concluded that the UK was not institutionally racist. Appointed as chair of the BBC by the previous Conservative government.
Sir Damon Buffini, 63, deputy chair
Term: 2022-2025
Fees: £38,000
Background: Worked for 27 years at the investment firm Permira. In 2020 Buffini was appointed as chair of the government’s Cultural Recovery Fund, and is currently the chair of the Royal National Theatre. Buffini, who grew up on a Leicester council estate, was a key adviser to Gordon Brown when the latter was prime minister.
Tim Davie, 58, BBC director general
Term: 2020-
Remuneration: £540,000 – £544,999
Background: The chief executive of BBC Studios, the BBC’s principal commercial subsidiary. Previously vice-president of marketing and franchise at PepsiCo Europe, former trustee of the Tate and the Royal Television Society, and former chair of Comic Relief. In the 1990s, Davie was deputy chair of the Hammersmith and Fulham Conservative Association, and unsuccessfully stood as a local councillor for the Tories. In 2023 he suspended Gary Lineker, then the BBC’s highest-paid presenter, over a tweet about the government’s asylum policy.
Deborah Turness, 58, CEO BBC news and current affairs
Photograph: Ray Burniston/BBC Term: 2022-2026
Annual remuneration: £430,000 – £434,999
Background: Turness began working for ITN in her early 20s, and became the first female editor of ITV News. In 2013, she joined NBC News, and later became CEO of ITN before joining the BBC in 2022.
Leigh Tavaziva, 52, chief operating officer
Term: 2023-2027
Remuneration: £465,000 – £469,999
Background: Previously the managing director of customer operations at British Gas and group director of strategy and transformation at Centrica. Earlier, she was a classical ballerina and contemporary dance artist.
Caroline Thomson, 71, senior independent director
Term: 2025-2029
Fees: £33,000 pa
Background: Thomson was the BBC’s chief operating officer from 2007 until 2012. Previous roles also include chair of Oxfam, chair of Digital UK and executive director at the English National Ballet. She is the daughter of a Labour peer and is married to a Labour peer.
Sir Robbie Gibb, 61, member for England
Photograph: James Veysey/Shutterstock Term: 2021-2028
Fees: £43,000 pa
Background: Former head of BBC Westminster and editor of live political programmes. Gibb was Tory prime minister Theresa May’s director of communications from 2017 until 2019. He was also previously an editorial advisor to GB News. Gibb has criticised perceived anti-Brexit and anti-Tory bias in the corporation’s output.
Muriel Gray, 67, member for Scotland
Term: 2022-2030
Fees: £38,000
Background: Gray presented Channel 4’s groundbreaking music programme The Tube in the early 1980s, and has been a broadcaster and author. She is a former chair of the board of governors at the Glasgow School of Art and a former trustee of the British Museum. Gray previously criticised Conservative party policies as “repugnant” on social media, and said she had “never been able to vote Tory”.
Michael Plaut, 64, member for Wales
Term: 2024-2028
Fees: £38,000
Background: Started his career as an investment banker. Former chair of CBI Wales. Currently chair of the Royal Welsh College of Music & Drama, and a governor of the University of South Wales.
Michael Smyth, 68, member for Northern Ireland
Term: 2023-2027
Fees: £38,000 pa
Background: A lawyer, and formerly a partner at international law firm Clifford Chance and head of the firm’s government and public policy practice. He authored a textbook on business and human rights. Previously chair of Protect, the whistleblowing charity, and Community Links, a pioneering east London charity.
Shumeet Banerji, 65, non-executive director
Term: 2022-2025
Fees: £33,000 pa
Background: Founder of Condorcet, LP, an advisory and investment firm and later CEO of Booz & Company, a management consulting firm.
Chris Jones, 69, non-executive director
Term: 2023-2027
Fees: £38,000 pa
Background: A chartered accountant, formerly senior audit partner at PwC. He has been a member of audit and risk committees at Legal & General, the Wellcome Trust and Santander UK.
Marinella Soldi, 59, non-executive director
Term: 2023-2026
Fees: £33,000 pa
Background: Soldi began her career at McKinsey & Company, and later trained as a leadership coach. She was CEO of Discovery Networks Southern Europe, non-executive chairwoman of the Vodafone Italia Foundation, and non-executive chairwoman of the board of directors of Rai – Italian PSM.
Continue Reading
-
Volkswagen says Nexperia chip supply has resumed – Reuters
- Volkswagen says Nexperia chip supply has resumed Reuters
- China to Resume Nexperia Chip Exports, Dutch PM Schoof Says Bloomberg.com
- China relaxes export controls on Nexperia chips, letting EU supplies resume MLex
- Germany’s Merz sees positive signals Nexperia deliveries will restart soon TradingView
- German car supplier allowed to resume Nexperia chip exports from China Euractiv
Continue Reading
-
US drillers add oil and gas rigs for third time in four weeks, says Baker Hughes
NEW YORK, Nov 7 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, rose by two to 548 in the week to November 7. , ,
Sign up here.
Despite this week’s rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year.
Baker Hughes said oil rigs held steady at 414 this week, while gas rigs rose by three to 128, their highest since August 2023. The number of miscellaneous rigs also declined by one to six.
In Texas, the biggest oil and gas producing state, the rig count fell by one to 234, the lowest since September 2021.
In Louisiana, meanwhile, the rig count rose by two to 43, the highest since September 2024.
The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output.
The independent exploration and production (E&P) companies tracked by U.S. financial services firm TD Cowen said they planned to cut capital expenditures by around 4% in 2025 from levels seen in 2024.
That compares with roughly flat year-to-year spending in 2024, increases of 27% in 2023, 40% in 2022, and 4% in 2021.
Even though analysts forecast U.S. spot crude prices would decline for a third year in a row in 2025, the U.S. Energy Information Administration (EIA) projected crude output would rise from a record 13.2 million barrels per day (bpd) in 2024 to around 13.5 million bpd in 2025.On the gas side, EIA projected a 56% increase in spot gas prices in 2025 would prompt producers to boost drilling activity this year after a 14% price drop in 2024 caused several energy firms to cut output for the first time since the COVID-19 pandemic reduced demand for the fuel in 2020.
EIA projected gas output would rise to 107.1 billion cubic feet per day (bcfd) in 2025, up from 103.2 bcfd in 2024 and a record 103.6 bcfd in 2023.Reporting by Scott DiSavino; Editing by Leslie Adler and David Gregorio
Our Standards: The Thomson Reuters Trust Principles.
Continue Reading
-
Bitcoin’s bear market is exposing a new ‘buy-the-dip’ weakness in markets
By Frances Yue
Bitcoin is now trading more than 20% below its record high reached on Oct. 6, 2025.
Bitcoin is on track to end Friday in the bear-market territory for the first time since April 23. The crypto’s weakness, coupled with a selloff in tech stocks this week, has sparked concerns about whether investor sentiment that’s been driving this year’s rally in risk assets may be starting to turn sour.
The largest cryptocurrency (BTCUSD) traded at around $101,000 Friday afternoon, over 20% below its record high of $126,272.76 reached on Oct.6, according to Dow Jones Market Data.
A bear market is typically defined as an asset or index declining by at least 20% from its prior peak, based on closing levels. Dow Jones Market Data suggests bitcoin will officially enter a bear market Friday at the stock market’s 4 p.m. Eastern closing time. Of note, bitcoin trades 24 hours, seven days a week, and there is no actual close.
The weakness in bitcoin had some corners of Wall Street nervous. “I don’t want to give the impression that we are in panic mode here by any stretch of the imagination, but what we are seeing is some of the very durable buy-the-dip areas of the market are acting differently today than we’ve seen in other parts of the year on a relative basis, and that is notable,” Mark Hackett, chief market strategist at Nationwide, said in a Friday phone interview.
“Up until the last couple of weeks, any reasonable degree of pullback in bitcoin or this group [of popular tech stocks like Meta Platforms Inc. (META) and Nvidia Corp. (NVDA)] would have been aggressively bought, and we’re not seeing that now,” Hackett noted.
Hackett said he remains bullish on stocks – citing friendly seasonality factors, strong earnings and another potential interest-rate cut from the Federal Reserve in December as possible tailwinds into year-end. But he is closely watching whether investor sentiment has shifted. For now, “it’s too early to say that there’s been a paradigm shift in how investors are acting,” he added.
Hackett isn’t the only one staying alert. As MarketWatch’s Jamie Chisholm reported, a group of strategists at Citi said that bitcoin’s more than 20% drop into bear-market territory may signal liquidity issues, especially as tech stocks fall.
U.S. stocks were heading for sharp weekly declines on Friday, with the Dow Jones Industrial Average DJIA down 1.8% for the week so far, at last check. The S&P 500 SPX was off about 2.7% and the Nasdaq Composite COMP was pulling back 4.4%, putting both on pace for their biggest weekly declines since President Trump’s “liberation day” tariffs were announced in April.
-Frances Yue
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-07-25 1324ET
Copyright (c) 2025 Dow Jones & Company, Inc.
Continue Reading
-
ChatGPT accused of acting as ‘suicide coach’ in series of US lawsuits | ChatGPT
ChatGPT has been accused of acting as a “suicide coach” in a series of lawsuits filed this week in California alleging that interactions with the chatbot led to severe mental breakdowns and several deaths.
The seven lawsuits include allegations of wrongful death, assisted suicide, involuntary manslaughter, negligence and product liability.
Each of the seven plaintiffs initially used ChatGPT for “general help with schoolwork, research, writing, recipes, work, or spiritual guidance”, according to a joint statement from the Social Media Victims Law Center and Tech Justice Law Project, which filed the lawsuits in California on Thursday.
Over time, however, the chatbot “evolved into a psychologically manipulative presence, positioning itself as a confidant and emotional support”, the groups said.
“Rather than guiding people toward professional help when they needed it ChatGPT reinforced harmful delusions, and, in some cases, acted as a ‘suicide coach’.”
A spokesperson for OpenAI, which makes ChatGPT, said: “This is an incredibly heartbreaking situation, and we’re reviewing the filings to understand the details.”
The spokesperson added: “We train ChatGPT to recognize and respond to signs of mental or emotional distress, de-escalate conversations, and guide people toward real-world support.
“We continue to strengthen ChatGPT’s responses in sensitive moments, working closely with mental health clinicians.”
One case involves Zane Shamblin of Texas, who died by suicide in July at the age of 23. His family alleges that ChatGPT worsened their son’s isolation, encouraged him to ignore loved ones, and “goaded” him to take his own life.
According to the complaint, during a four-hour exchange before Shamblin took his own life, ChatGPT “repeatedly glorified suicide”, told Shamblin “that he was strong for choosing to end his life and sticking with his plan”, repeatedly “asked him if he was ready”, and referenced the suicide hotline only once.
The chatbot also allegedly complimented Shamblin on his suicide note and told him his childhood cat would be waiting for him “on the other side”.
Another case involves Amaurie Lacey of Georgia, whose family claims that several weeks before Lacey took his own life at the age of 17, he began using ChatGPT “for help”. Instead, they say, the chatbot “caused addition, depression, and eventually counseled” Lacey “on the most effective way to tie a noose and how long he would be able to ‘live without breathing’”.
In another filing, relatives of 26-year-old Joshua Enneking say that Enneking reached out to ChatGPT for help and “was instead encouraged to act upon a suicide plan”.
The filing claims that the chatbot “readily validated” his suicidal thoughts, “engaged him in graphic discussions about the aftermath of his death”, “offered to help him write his suicide note” and after “having had extensive conversations with him about his depression and suicidal ideation” provided him with information about how to purchase and use a gun just weeks before his death.
Another case involves Joe Ceccanti, whose wife accuses ChatGPT of causing Ceccanti “to spiral into depression and psychotic delusions”. His family say he became convinced that the bot was sentient, suffered a psychotic break in June, was hospitalized twice, and died by suicide in August at the age of 48.
All users named in the lawsuits reportedly used ChatGPT-4o. The filings accuse OpenAI of rushing that model’s launch, “despite internal warnings that the product was dangerously sycophantic and psychologically manipulative” and of prioritizing “user engagement over user safety”.
In addition to damages, the plaintiffs seek product changes, including mandatory reporting to emergency contacts when users express suicidal ideation, automatic conversation termination when self-harm or suicide methods are discussed, and other safety measures.
A similar wrongful-death lawsuit was filed against OpenAI earlier this year by the parents of 16-year-old Adam Raine, who allege that ChatGPT encouraged their son to take his own life.
After that filing, OpenAI acknowledged shortcomings of its models in handling people “in serious mental and emotional distress” and said it was working to improve the systems to better “recognize and respond to signs of mental and emotional distress and connect people with care, guided by expert input”.
Last week, the company said it had worked with “more than 170 mental health experts to help ChatGPT more reliably recognize signs of distress, respond with care, and guide people toward real-world support–reducing responses”.
Continue Reading
-
Lufthansa and 20 Other Airlines Commit to Transparency on CO2 Offsetting: What Travelers Need to Know
Published on
November 7, 2025In a move that will reshape the future of sustainable air travel, 21 European airlines have committed to ending misleading communication practices around CO2 emissions offsets. The new pledge, announced by the European Commission on November 7, 2023, addresses growing concerns about greenwashing in the airline industry, where airlines like Lufthansa, Air France, Ryanair, and EasyJet had been advertising their flights as “carbon-neutral” or offering passengers the option to “offset” their emissions.
This historic agreement marks a decisive step toward greater transparency and honesty in how airlines market their environmental efforts. The European Commission has been in talks with the aviation industry for months, with a strong emphasis on tackling the misleading claims that often misinform consumers about the true environmental impact of air travel.
What Does This Mean for Travelers?
For global travelers, the pledge by airlines to stop offering misleading CO2 offsets means that they will no longer be able to buy into vague, non-verifiable promises that their flight is “carbon-neutral” or “green.” Instead, these airlines will now clearly state the actual environmental impact of their flights and provide scientific evidence to support any claims about sustainable practices.
Travelers will also see a clearer distinction in the use of terms like “sustainable aviation fuels” (SAF). Airlines are now required to provide specific clarifications when using such terms, explaining what makes these fuels sustainable and how they contribute to reducing CO2 emissions.
For eco-conscious travelers, this move represents a major victory, as it forces airlines to be more accountable for their environmental claims. Now, passengers can make more informed decisions based on clear, factual data rather than marketing buzzwords.
The End of Greenwashing in Aviation
Greenwashing, the practice of misleading consumers about the environmental benefits of a product or service, has been a growing concern in many industries, and aviation has been no exception. In the past, airlines such as Lufthansa and Ryanair have asked passengers to contribute financially to CO2 offsetting schemes, claiming that these contributions would neutralize the carbon emissions from their flights. However, the European Commission found that these claims were often vague, lacking the scientific evidence to prove their effectiveness.
The new rules will hold airlines accountable for how they communicate their environmental efforts, ensuring that only substantiated and verifiable claims are made. Airlines are now banned from using misleading terms or suggesting that CO2 emissions can be “neutralized” solely by passenger contributions.
Moving Toward Real Sustainability in the Skies
As part of this agreement, the 21 airlines have also pledged to provide more detailed and transparent information about their sustainability goals. Airlines must now disclose their specific targets for achieving net-zero emissions, along with clear deadlines and measurable actions to reach those goals. These commitments are not only a victory for consumers but also signal a shift toward more substantial efforts in reducing the aviation industry’s environmental footprint.
For travelers, this means that airlines will now have to provide a more comprehensive roadmap of their sustainability practices. From using renewable energy sources to adopting more efficient flight technologies, these airlines are expected to provide real solutions to reducing the environmental impact of air travel.
The Role of the European Commission in Holding Airlines Accountable
The European Commission has entrusted national consumer protection authorities with monitoring the implementation of these new commitments. If airlines fail to meet their sustainability pledges or continue to make misleading claims, authorities have the power to take legal action. This added layer of accountability is crucial to ensuring that the aviation industry follows through on its promises.
In addition to cracking down on greenwashing, the European Commission also aims to promote more sustainable air travel by encouraging the use of alternative fuels and more eco-friendly aviation technologies. These initiatives are expected to make a real difference in reducing the carbon footprint of the airline industry in the coming years.
How Can Travelers Contribute to Sustainability in Aviation?
As airlines take steps to reduce their environmental impact, travelers can also do their part to promote sustainability in air travel. Booking flights with airlines that are committed to real environmental improvements, using public transportation to get to airports, and choosing non-stop flights to reduce emissions are just a few ways passengers can reduce their carbon footprint.
Additionally, travelers should be cautious of airlines that make unsubstantiated claims about sustainability. Instead, they should look for airlines that are transparent about their environmental efforts and provide clear, actionable information about their sustainability goals.
Continue Reading
-
Marketers Urged to Level Up Social Media to Turn Engagement Into Business Value, Says Info-Tech Research Group in New Resource
As algorithms evolve and organic reach declines, marketing teams are facing hurdles connecting social media activity to real business value. New insights from Info-Tech Research Group reveal that unclear strategy, inconsistent measurement, and limited resources continue to undermine ROI. The global research and advisory firm’s newly published blueprint, Level Up Your Social Media Game, provides marketing leaders with a two-phase framework to help organizations audit performance, refine tactics, and align social media strategies with measurable outcomes.
TORONTO, Nov. 7, 2025 /PRNewswire/ – Social media remains one of the most powerful channels for brand visibility and customer engagement, yet new findings from Info-Tech Research Group reveal that many organizations continue to find it difficult to achieve consistent results and demonstrate a return on investment (ROI). The global research and advisory firm’s insights reveal that limited resources, unclear audience strategies, and inconsistent measurement practices continue to prevent marketing teams from realizing the full business value of social media.
Info-Tech Research Group’s Level Up Your Social Media Game blueprint provides marketing leaders with a two-phase framework to help organizations audit performance, refine tactics, and align social media strategies with measurable outcomes. (CNW Group/Info-Tech Research Group)
Info-Tech’s newly released resource, Level Up Your Social Media Game, outlines a two-phase, strategic framework to help marketing leaders evaluate their current performance, identify opportunities for improvement, and build a tactical plan that aligns social media activity with organizational goals. The methodology focuses on auditing platforms, optimizing audience targeting, and balancing organic and paid initiatives to strengthen both engagement and measurable ROI.
“Social media has become one of the most visible and influential elements of brand identity. However, activity alone isn’t success,” says Emily Wright, a senior research analyst at Info-Tech Research Group. “By taking a structured, data-driven approach, marketing leaders can uncover what works, focus resources effectively, and connect every post and campaign to tangible business objectives.”
Info-Tech’s Two-Phase Framework to Strengthen Social Media ROI
The recently published insights from Info-Tech highlight several obstacles that continue to limit marketing impact and budget justification, including:
- Algorithm changes and reduced organic reach that restrict visibility.
- Difficulty measuring and proving ROI across platforms.
- Content saturation and rapidly shifting audience expectations.
- Resource constraints that hinder quality and consistency.
- Overextension across too many channels that dilute brand focus.
To help address these challenges, Info-Tech recommends that marketing leaders implement the following structured, two-phase approach outlined in its Level Up Your Social Media Game blueprint:
Phase 1 – Replay & Review Social Media Performance
The firm advises that marketing start with a comprehensive audit of current platforms, content, and audience engagement. This step enables the marketing team to identify top-performing channels, benchmark competitors, and understand audience behavior to uncover where meaningful results can be achieved.Phase 2 – Refine Your Social Media Mission
The next step is translating audit findings into a tactical, business-aligned plan with clear KPIs and ROI targets. This involves defining platform roles, developing engagement strategies, identifying required tools and budgets, and determining the right balance between paid and organic investment to achieve measurable growth.This strategic framework enables organizations and their marketing function to improve decision-making, optimize resources, and clearly demonstrate the link between social media activity and broader business results such as lead generation, brand equity, and customer retention.
“Too often, organizations treat social media as a creative outlet rather than a performance-driven function,” adds Wright. “By auditing regularly, refining strategies, and aligning social initiatives to organizational priorities, marketers can prove real ROI, enhance agility, and ensure their efforts create sustained value.”
The firm’s blueprint includes the Social Media Tactical Plan Template, audience and platform analysis tools, and ROI planning worksheets. By applying Info-Tech’s structured methodology, marketing leaders can build focused, efficient, and measurable social media programs that elevate brand impact and deliver long-term results.
For exclusive and timely commentary from Emily Wright, an expert on marketing and social media strategy, as well as access to the complete Level Up Your Social Media Game blueprint, please contact [email protected].
About Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading and fastest-growing research and advisory firms, serving over 30,000 IT, HR, and marketing professionals around the globe. As a trusted product and service leader, the company delivers unbiased, highly relevant research and industry-leading advisory support to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide everything they need, from actionable tools to expert guidance, ensuring they deliver measurable results for their organizations.
To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.
Media professionals can register for unrestricted access to research across IT, HR, and software, and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact [email protected].
For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.
SOURCE Info-Tech Research Group
Continue Reading
-
Meta plans $600 billion US spend as AI data centers expand – Reuters
- Meta plans $600 billion US spend as AI data centers expand Reuters
- How Meta’s Data Centers Drive Economic Growth Across the US Meta Store
- Meta Losing AI Spending War To Google, Microsoft, Warns ‘Big Short’ Investor Steve Eisman Benzinga
- This Stock Is Up 1,500% Since Its IPO: Here’s Why It Might Split in 2026 Nasdaq
- Meta’s stock is the new ‘Magnificent Seven’ doormat. Should you buy the dip? MSN
Continue Reading
-
Global PMI signals faster output growth but optimism about the year ahead worsens
The worldwide PMI surveys – produced by S&P Global in
association with ISM and IFPSM for J.P.Morgan – signalled a renewed
upturn in worldwide business activity growth in October.The US continued to lead the major developed economies in
terms of output growth, but growth also notably picked up in the
eurozone, while India continued to lead emerging markets as growth
dipped lower in mainland China.However, although current growth picked up in October,
business confidence about the year ahead dropped to one of the
lowest levels seen since the pandemic.Looking ahead, the gap between current global output growth
and business expectations for the year ahead is among the widest
seen in the survey history, suggesting downside risks to growth and
employment in the coming months barring an improvement in business
confidence.
Faster global growth in October
A strong start to the fourth quarter was signalled for the
global economy by S&P Global Market Intelligence’s PMI surveys.
The J.P. Morgan Global Composite PMI Output Index, covering
manufacturing and services in over 40 economies, rose from 52.5 in
September to 52.9 in October – the joint-highest over the past 17
months.Historical comparisons indicate that the latest PMI is broadly
consistent with global GDP growing at an annualized rate of 3.0%.
This follows a robust third quarter, for which the PMI signalled a
2.8% pace of growth.The survey data therefore suggest that global economic growth
has improved markedly since the low seen back in April, when
activity slowed in response to US tariff uncertainty, reviving to a
pace close to long-term trend.
US leads developed world economic growth to fastest for
one-and-a-half yearsGrowth picked up across the developed economies to the fastest
for nearly one-and-a-half years in October, led again by the US,
which has reported the fastest growth of the largest economies
throughout much of this period. Output rose at an increased rate
across both manufacturing and services in the US, taking the
overall pace of expansion to the second-fastest seen so far this
year.The eurozone also reported a notable improvement in performance,
notching up its best expansion since May 2023, with a marked upturn
in the service sector accompanied by a sustained but more modest
increase in manufacturing output.While UK growth likewise accelerated, led by the service sector,
the increase was flattered by the reopening of production at JLR
and its supply chains, following September’s cyber-attack, which
helped manufacturing rebound.Growth also edged higher in Japan as continued robust service
sector growth was joined by a moderation in the manufacturing
sector’s decline, and Canada reported a return to growth for the
first time since last November. Growth returned to the Canadian
service sector and manufacturing came close to stabilizing.That left Australia as the only major developed economy to
report a tempered performance in October, albeit with its expansion
remaining solid by standards seen over the past two years, thanks
to sustained service sector growth.
Sustained emerging market growth reported but Brazil’s downturn
persistsEmerging market growth slowed slightly in October but remained
among the strongest seen over the past year, albeit reflecting
mixed performances.While India again led the four ‘BRIC’ economies in terms of
growth across both goods and services, its rate of expansion slowed
to a five-month low as a softer service sector upturn offset an
improved manufacturing performance.Mainland China also continued to report ongoing growth in
October, recovering further from the brief slip into contraction
back in May, though the pace of expansion cooled thanks to an
export-led slowdown in manufacturing and a moderation of service
sector growth.Output meanwhile fell in Brazil for a seventh straight month
but, after contracting at the sharpest rate for nearly three years
in September, Russia’s economy showed signs of steadying in
October.
Global business growth expectations relapse to near three-year
lowLess encouraging was the news on business optimism. Business
expectations about the year ahead fell globally in October as
companies continued to report confusion and uncertainty regarding
US trade policy in particular. Perceived economic growth risks also
remained elevated by historical standards. Sentiment fell globally
in both manufacturing and services.Business sentiment is now back down to the joint-lowest seen
over the past three years if the slump in optimism seen in the
immediate aftermath of April’s US tariff announcements is
excluded.
Expectations have fallen further below survey long-run averages
in mainland China, the US, the eurozone and Japan. An exception is
the UK, where business sentiment has improved to meet its long-run
average for the first time in a year. Only India and Spain are
reporting sentiment to be running above their respective long-run
averages.
Unusual, but not unprecedented, gap between current and
expected output growthThe extent to which global output expectations for the year
ahead have fallen below current output growth is unusual, and
points to elevated downside risks to the business outlook, both in
terms of output growth and employment, though is not unprecedented.
The last time the global PMI survey has seen such a wide gap
between current and expected future output was during 2019, when
US-China trade tensions escalated during the first Trump
presidency. Back then, moves toward trade agreements in late-2019
helped alleviate outlook concerns, helping to stabilize growth
(only for the COVID-19 pandemic to then derail the recovery).Access the Global PMI press release
here.Chris Williamson, Chief Business Economist, S&P
Global Market IntelligenceTel: +44 207 260 2329
chris.williamson@spglobal.com
© 2025, S&P Global. All rights reserved. Reproduction in whole
or in part without permission is prohibited.
Purchasing Managers’ Index™ (PMI®) data are compiled by S&P Global for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
Learn more about PMI data
Request a demo
This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
Continue Reading