Good morning. Stocks rallied along with copper and oil. A US helicopter and fighter jet separately crashed in the South China Sea. And Hermès names its new men’s ready-to-wear designer. Listen to the day’s top stories.
Russian President Vladimir Putin hailed the test of a new nuclear-powered cruise missile that his military said was capable of traveling for at least 14,000 kilometers (8,700 miles). The Burevestnik was tested on Oct. 21, according to footage. The weapon, which flew for about 15 hours, is capable of evading missile-defense networks.
An F-18 Super Hornet on the flight deck of the USS Nimitz in 2023. Photographer: Jeon Heon-kyun/AFP/Getty Images
A US helicopter and fighter jet separately crashed in the South China Sea on Sunday, coinciding with a visit by President Donald Trump to Asia. A Sea Hawk helicopter went down during routine operations from the aircraft carrier USS Nimitz, while an F/A-18F Super Hornet crashed a short while later. All five people involved in the incidents were safe.
UK Chancellor Rachel Reeves will seek to accelerate trade talks with the Gulf states during a visit to Saudi Arabia, as she tries to boost the country’s growth prospects ahead of her crucial budget. She begins a two-day trip today to meet chief executives and government figures at the Future Investment Initiative summit in Riyadh.
Europe’s banks are flush with cash and ready for big deals, but like everything else in the bloc, it’s complicated.
A year after a series of hostile takeover approaches fueled speculation of a long-overdue consolidation in European banking, the reality is shaping up to be far more complex than the cross-border mega-mergers dreamed up by executives and technocrats in Brussels.
Almost all of the headline-grabbing proposals of the past year have failed or are stalled.
Waymo may not be as much of a threat to London cabbies as one would think, Parmy Olson writes. With a slow and cautious rollout, the self-driving firm may simply add to capacity rather than undercutting the black cabs that help define London’s rich cultural tapestry.
Grace Wales Bonner. Photographer: Dia Dipasupil/Getty Images North America
Hermès appointed Grace Wales Bonner, a 35-year-old designer known for blending fine tailoring with diverse cultural influences, as its new creative director of men’s ready-to-wear. She’s the only Black woman to lead design at a major European luxury brand.
