Economy news · 29 October 2026
Alphabet Shares Tumble 8.5% After First Earnings Miss in Four Years
Google's parent company posted Q3 2026 results that fell short on both earnings per share and revenue, sending its stock sharply lower despite a record-breaking Google Cloud quarter.
ECB Holds Deposit Rate at 2.00% as Energy Shock Raises June Hike Expectations
The European Central Bank left all three of its key interest rates unchanged on 29 October 2026, keeping the deposit facility rate at 2.00% — where it has stood since June 2025 — while markets fully price in a 25-basis-point increase at the 11 June meeting.
Fed Holds Rates at 3.75–4% in 10-2 Vote as Treasury Yield Breaks 5%
The US Federal Reserve kept its benchmark rate unchanged but struck a hawkish tone, with two policymakers voting for an immediate hike and the 10-year Treasury yield crossing the 5% threshold.
Honda Warns Doubling Canada Auto Tariffs to 50% Would Be 'Catastrophic'
Honda's top US government-affairs executive told a Detroit industry conference that a threatened January 2027 increase in tariffs on Canadian vehicles and parts from 25% to 50% would devastate North American auto supply chains.
'China Shock 2.0': Germany Loses Trade Surplus in Cars, Machinery and Medical Equipment to Chinese Rivals
A major policy report found Germany has shed 420,000 manufacturing jobs since 2019 and now runs trade deficits with China in sectors it once dominated, as Chinese firms compete on quality and innovation, not just price.