Singapore-registered vessel hit by projectile sinks in Strait of Hormuz; another damaged

The Business Times - Oct 14, 2026

All 43 crew members are safe; none are Singaporean

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Wall Street tumbles as hot inflation data feeds worries about Fed rate hikes

Oct 15, 2026

Wall Street tumbles as hot inflation data feeds worries about Fed rate hikes

Hotter-than-expected inflation data sent Wall Street tumbling on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling shares of Oracle, CoreWeave and other AI stocks sensitive to higher borrowing costs. Increased bets that the Fed will have to further hike rates to tame inflation dealt a sharp blow to some of the market's biggest gainers of 2026. Oracle lost 7.3 percent, while AI-infrastructure firms CoreWeave and Nebius tumbled 15 percent and 10 percent, respectively. Dell dropped 12 percent and Hewlett Packard Enterprise lost 7.6 percent after Barclays downgraded the AI server makers to "equal-weight" from "overweight." The Philadelphia SE Semiconductor index dropped almost 4 percent, down for a sixth straight session and on track for its longest losing streak since May 2025. US consumer prices accelerated in September as the cost of gasoline surged and price pressures broadened beyond energy, data from the Labor Department's Bureau of Labor Statistics showed. Interest rate traders are pricing in a 37 percent chance that the Fed will raise rates at i

Oil prices gain on attacks in Saudi Arabia, Iran's new tactics to target tankers

Oct 15, 2026

Oil prices gain on attacks in Saudi Arabia, Iran's new tactics to target tankers

NEW YORK — Oil prices rose on Wednesday after the Houthis attacked Saudi Aramco's headquarters and Iran said it was deploying new tactics to target ships and keep oil prices high. Brent crude futures were up 87 cents, or 0.82 percent, at $106.56 a barrel by 1:25 p.m. ET (1725 GMT). U.S. West Texas Intermediate crude gained $1.46, or 1.55 percent, to $95.60, touching a three-week high. Attacks on ships transiting the Strait of Hormuz and strikes between Saudi Arabia and the Iran-allied Houthis are driving up oil prices, said Phil Flynn, senior analyst with the Price Futures Group. "We're seeing a lot of fear trade today," he added. Iranian officials declined to provide details of the new strategy to target ships, but one said Iran had started using different offensive tactics about 10 days ago. Gulf oil flows excluding Iran surged in September to more than 81 percent of prewar levels, data showed, led by a recovery in Saudi exports. Iranian exports fell to zero owing to a U.S. blockade. "More crude reaching international markets does not necessarily mean more oil is being produced," Saxo

US stocks drop to their worst day since July as inflation worsens

Oct 15, 2026

US stocks drop to their worst day since July as inflation worsens

NEW YORK — U.S. stocks dropped to their worst day since July on Wednesday following the latest signal that inflation is getting worse. The S&P 500 sank 1.1 percent for a fifth loss in the six days since setting its all-time high. The Dow Jones Industrial Average fell 48 points, or 0.1 percent, and the Nasdaq composite slid 1.9 percent as stocks in the artificial-intelligence industry led the way lower. Stocks felt pressure from rising yields in the bond market, where worries grew after a report said U.S. consumers had to pay prices for fuel, food and other costs of living last month that were 3.7 percent higher overall than a year earlier. That means inflation accelerated from its 3.4 percent rate in August and was worse than the 3.6 percent that economists expected. Inflation has remained more painful than anyone would like since the economy catapulted out of the crevasse created by the COVID-19 pandemic. It’s accelerated recently in part because of jumps in fuel prices caused by the war with Iran, and the price for a barrel of Brent crude added 0.4 percent Wednesday to $106.06. Tha

Zelenskyy says 'we count' on US partnership, urges Starlink switch-on

Oct 15, 2026

Zelenskyy says 'we count' on US partnership, urges Starlink switch-on

LONDON — President Volodymyr Zelenskyy said Wednesday that Ukraine counts on its partnership with the United States despite agreeing he felt betrayed by President Donald Trump over an "energy ceasefire" and Russian diesel deal. In London — where he received a highly symbolic show of support from the British government — Zelenskyy also called on U.S. tech billionaire Elon Musk to restore the Starlink system used on the battlefield, which Kyiv says has been slowed down. After meeting King Charles III, Zelenskyy told U.K. Prime Minister Andy Burnham in Downing Street that Ukraine had endured "massive attacks today and it is a pity we had also some difficulties," a reference to strained ties with Washington. Ukraine has accused the U.S. of helping Russia by failing to warn it of incoming missile strikes and hobbling its military response through changes to the Starlink system it uses on the battlefield. "We count on (our) partnership with the United States," Zelenskyy told Burnham during remarks captured on camera before a closed-door bilateral meeting. "We just want to be very honest,

Trump press secretary Katie Zacharia faces scrutiny over claims she's a lawyer

Oct 15, 2026

Trump press secretary Katie Zacharia faces scrutiny over claims she's a lawyer

NEW YORK — The new White House press secretary is facing mounting questions about her background and resume as she transitions into her role as the public face of the Trump administration. Katie Zacharia has long described herself as a lawyer as she has worked to establish herself as a commentator for conservative outlets like Fox News and Newsmax. But so far, she and the White House have offered no evidence that she passed the bar exam in any state or in China, where she worked for a large law firm years ago. The questions add to the confusion surrounding President Donald Trump's decision to hire Zacharia, who had worked for his social media company for only a few months when he announced her appointment and whose debut at the podium on Tuesday has been widely panned. Afterward, the president was asked by reporters where Zacharia had passed the bar exam, following a report by the independent outlet Popular Information that she did not appear to be licensed in any state. Trump stepped aside to allow Zacharia to answer. “When I moved to China," she responded over the sound of Marine On

Trump claims again Korea to invest in Alaska LNG project under trade deal

Oct 15, 2026

Trump claims again Korea to invest in Alaska LNG project under trade deal

WASHINGTON — U.S. President Donald Trump said Wednesday that Korea will invest $50 billion in a massive liquefied natural gas (LNG) project in Alaska as part of an investment agreement with Washington, despite uncertainty over Seoul's participation. "This 50 Billion Dollar Infrastructure Investment from The Republic of Korea is part of their Trade and Investment Deal with me," Trump wrote on Truth Social, while describing his visit to Alaska for a campaign rally on Tuesday. The remarks were the latest from the Trump administration claiming that Korea is committed to the Alaska LNG project. Seoul has maintained that its participation remains subject to a commercial viability review. Trump also said that Taiwan has agreed to invest $4.4 billion in equity into the project, calling it the "greatest project in Alaska history." White House Press Secretary Katie Zacharia also said Tuesday that $54 billion was tied to the Alaska LNG project as part of a Korean energy investment package. "President Trump also unveiled a Korea energy investment package of up to $200 billion in the United States.

School roof collapse kills at least 29, injures more than 50 in Pakistan

Oct 15, 2026

School roof collapse kills at least 29, injures more than 50 in Pakistan

PESHAWAR, Pakistan — The roof of a private school collapsed in the northwestern Pakistani city of Peshawar on Thursday, killing at least 28 children and a teacher and injuring more than 50 other people, authorities and a hospital official said. All of the children killed or injured at Al-Khair school were age 13 or younger, Lady Reading Hospital spokesman Mohammad Asim said. Some of the injured were in critical condition, he said. The hospital declared an emergency as medical staff treated the wounded. Hours after the collapse in Peshawar, the capital of Khyber Pakhtunkhwa province, rescue officials said that everyone trapped beneath the rubble had been pulled out and crews were clearing the debris. Mahwish Zaman, an injured teacher speaking from a hospital bed, said that the three-story school had an estimated 1,200 students enrolled in nursery through fifth grade. She told The Associated Press that she was in her classroom when the roof collapsed and felt as if the sky had fallen. She regained consciousness in the hospital. Khyber Pakhtunkhwa Gov. Faisal Karim Kundi expressed sorrow

Iran-backed Houthis strike Saudi oil company Aramco's headquarters, officials say

Oct 15, 2026

Iran-backed Houthis strike Saudi oil company Aramco's headquarters, officials say

CAIRO — Iran-backed Houthi rebels hit the headquarters of the Saudi state-owned oil company Aramco in an overnight strike, two regional officials said Wednesday, damaging the offices of the firm’s chief executive and other top officials. The strike, in the eastern Saudi Arabian city of Dhahran, was the latest demonstration of the Houthis' ability to attack high-profile targets. There were no casualties in the attack, which the officials said damaged the building's top three floors. They spoke on condition of anonymity because they weren’t authorized to discuss the matter with the media. The Houthis had warned earlier they were targeting Dhahran with a ballistic missile. Late Wednesday evening, Houthi-run broadcaster al-Masirah reported strikes on the capital Sanaa, blaming Saudi Arabia. The Saudi coalition has not commented on the strikes. The sight of smoke rising from some of Saudi Arabia’s most sensitive facilities in recent days has rattled the region and global markets while increasing questions for U.S. President Donald Trump, who has said he's evaluating whether the U.S. s

EU leaders to clash over long-term budget, Ukraine support

Oct 15, 2026

EU leaders to clash over long-term budget, Ukraine support

European Union leaders ⁠will clash on Thursday ​over the size of bloc's next long-term budget, its sources of revenue and spending priorities, with no immediate deal ​in sight. The budget also covers help for Kyiv. Ukraine's President Volodymyr Zelensky will be joining the meeting on Friday in a bid to rally support amid fresh tension with US President Donald Trump. FRANCE 24's Europe Editor Armen Georgian reports from Brussels, Belgium.

EU leaders head for showdown over bloc long-term budget

Oct 15, 2026

EU leaders head for showdown over bloc long-term budget

EU leaders on Thursday head for their biggest clash yet over the bloc's next long-term budget, as they race to lock in a deal before next year's French presidential election. The 27-nation European Union wants an agreement by Christmas, worried that any future dealmaking will be derailed by potential eurosceptic wins in polls taking place across the bloc -- most crucially in key power France. FRANCE 24's Dave Keating reports from Brussels, Belgium.

Musk suggests US govt behind any slowdown in Ukraine's Starshield system

Oct 15, 2026

Musk suggests US govt behind any slowdown in Ukraine's Starshield system

SpaceX boss Elon Musk said Wednesday that any disruptions reported by Ukraine in using the Starshield satellite communications system would be the responsibility of the US government, not his company. "Starshield systems are owned and controlled by the US government. Any limits on speed or usage are decided by the US military and ultimately POTUS," Musk said, referring to US President Donald Trump. FRANCE 24's International Affairs Editor Kethevane Gorjestani tells us more.

Albanian students protest over education, jobs, clash with police

Oct 15, 2026

Albanian students protest over education, jobs, clash with police

Demonstrators and riot police clashed in Albania's capital on Wednesday in a second straight day of violence triggered by student protests calling for better university conditions and Prime Minister Edi Rama's resignation. Protesters formed makeshift barricades in the capital, Tirana, while riot police responded with water cannon, after street violence overnight left 16 people arrested and government buildings badly damaged.

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