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Friday 23 October 2026
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The British bank said the cuts, about 5% of its workforce, are part of cost reductions that executives linked to technology and AI. The Unite union said it was in talks with the bank.
Oil prices rose as much as 4% on Thursday after Houthi attacks in Saudi Arabia and Iranian statements about strikes on vessels, while spot gold fell to its lowest level since 14 October.
US stocks were lower in afternoon trading in New York, led by technology shares, while the 10-year Treasury yield fell below 5% for the first time since 23 September. Markets in Asia and Europe also closed lower.
Meta beat revenue estimates and raised the bottom of its 2026 capital spending range to $135 billion. It also announced a new class of non-voting shares and an arrangement with Mark Zuckerberg linked to a proposed California wealth tax.
Tesla reported revenue of $28.05 billion and adjusted earnings of 48 cents a share, above analysts' estimates, and lowered its 2026 capital spending outlook from more than $25 billion.
Asian share markets closed mixed, with technology shares lifting Seoul and Tokyo while markets in Greater China ended lower.
Australian shares ended slightly higher after spending most of the session lower, with the major banks and communication stocks rising while NextDC fell after cutting its guidance.
The US telecoms company now expects adjusted earnings of about US$2.40 a share for 2026, after adding 379,000 phone subscribers and record broadband customers in the quarter.
Indonesia's central bank kept its BI-Rate unchanged for a fourth straight meeting, lifted its deposit facility rate to 5.00% and announced a two-step cut in banks' reserve requirements.
The Australian biotech company said Waterhouse, who has led GSK's HIV business ViiV since 2017, will take over on 1 February 2027 on a base salary of £1.5 million.
