UK Services Growth Slows as Fuel Costs Drive Inflation Higher
The UK services PMI eased to 52.1 in September as fuel costs lifted input inflation and businesses raised prices at the fastest pace since May.
Schneider Electric Agrees to Buy PTC for $22.6 Billion
Schneider Electric agreed to acquire industrial software company PTC for $205 per share in cash, valuing PTC’s equity at about $22.6 billion.
CSL Strikes Rare-Disease Drug Deal With Alentis Worth Up to $1.6 Billion
CSL will pay Alentis $355 million upfront to co-develop lixudebart, with potential commercial milestones lifting the deal’s value to about $1.6 billion.
Oil Slips as G7 Reserve Release and Middle East Exports Add Supply
Oil prices edged lower as the G7 began a 100-million-barrel reserve release and Middle East exports recovered, though shipping attacks kept supply risks elevated.
Iran’s Oil Minister Resigns as Hamid Bovard Takes Interim Role
Mohsen Paknejad resigned as Iran’s oil minister, and National Iranian Oil Company chief Hamid Bovard was appointed acting minister.
OPEC+ Holds November Oil-Production Targets Steady
Seven OPEC+ members will keep November production requirements at September levels as actual output remains constrained and attention shifts to 2027 quotas.
Who Qualifies for the $90 Medicare Part B Rebate—and When It Arrives
A one-time $90 Medicare Part B rebate is due for about 20.8 million beneficiaries in October. Here is who qualifies, when payments arrive and what to do if one is…
Nearly 1,400 Workers Laid Off at Springfield, Ohio Truck Plant
Nearly 1,400 workers were laid off September 30 at a former Navistar truck plant in Springfield, Ohio, creating an immediate shock for the Dayton-area economy.
Iran Says Strait of Hormuz Will Stay Closed Until Seven Conditions Are Met
Iran’s parliament speaker says the Strait of Hormuz will not reopen until seven conditions tied to a June agreement are satisfied, as Qatar continues mediation.
G7 Orders 100 Million-Barrel Emergency Oil and Diesel Release
G7 leaders agreed to release 100 million barrels of oil and diesel reserves over four months, with diesel supplies front-loaded in the first 20 days.