Rolling coverage of the latest economic and financial news

Overnight risk sentiment is “subdued after weaker revenue and higher capex requirement from Oracle”, reports Mohit Kumar of investment bank Jefferies .

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

“Oracle sold Ampere because we no longer think it is strategic for us to continue designing, manufacturing and using our own chips in our cloud datacenters.

We are now committed to a policy of chip neutrality where we work closely with all our CPU and GPU suppliers. Of course, we will continue to buy the latest GPUs from NVIDIA, but we need to be prepared and able to deploy whatever chips our customers want to buy. There are going to be a lot of changes in AI technology over the next few years and we must remain agile in response to those changes.”

The company continued to burn cash last quarter: its free cash flow reached a negative $10 billion. To make matters worse, the company said that it expects capex to reach about $50 billion in the fiscal year ending May 2026 – $15 billion more than its September forecast – and investments at Oracle are financed by debt: overall, the company has about $106 billion in debt.

Frankly, the report was not dramatically bad, but it came to confirm concerns around heavy AI spending, financed by debt, with an unknown timeline for revenue generation, sending Oracle shares down by more than 11% in after-hours trading.

9am GMT: IEA’s monthly oil market report

9.50am GMT: Bank of England governor Andrew Bailey speaks at Financial Times Global Boardroom event

11am GMT: Turkey’s interest rate decision

1.30pm GMT: US trade data for September

1.30pm GMT: US initial jobless claims

Rolling coverage of the latest economic and financial news

Overnight risk sentiment is “subdued after weaker revenue and higher capex requirement from Oracle”, reports Mohit Kumar of investment bank Jefferies .

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

“Oracle sold Ampere because we no longer think it is strategic for us to continue designing, manufacturing and using our own chips in our cloud datacenters.

We are now committed to a policy of chip neutrality where we work closely with all our CPU and GPU suppliers. Of course, we will continue to buy the latest GPUs from NVIDIA, but we need to be prepared and able to deploy whatever chips our customers want to buy. There are going to be a lot of changes in AI technology over the next few years and we must remain agile in response to those changes.”

The company continued to burn cash last quarter: its free cash flow reached a negative $10 billion. To make matters worse, the company said that it expects capex to reach about $50 billion in the fiscal year ending May 2026 – $15 billion more than its September forecast – and investments at Oracle are financed by debt: overall, the company has about $106 billion in debt.

Frankly, the report was not dramatically bad, but it came to confirm concerns around heavy AI spending, financed by debt, with an unknown timeline for revenue generation, sending Oracle shares down by more than 11% in after-hours trading.

9am GMT: IEA’s monthly oil market report

9.50am GMT: Bank of England governor Andrew Bailey speaks at Financial Times Global Boardroom event

11am GMT: Turkey’s interest rate decision

1.30pm GMT: US trade data for September

1.30pm GMT: US initial jobless claims

Rolling coverage of the latest economic and financial news

Overnight risk sentiment is “subdued after weaker revenue and higher capex requirement from Oracle”, reports Mohit Kumar of investment bank Jefferies .

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

“Oracle sold Ampere because we no longer think it is strategic for us to continue designing, manufacturing and using our own chips in our cloud datacenters.

We are now committed to a policy of chip neutrality where we work closely with all our CPU and GPU suppliers. Of course, we will continue to buy the latest GPUs from NVIDIA, but we need to be prepared and able to deploy whatever chips our customers want to buy. There are going to be a lot of changes in AI technology over the next few years and we must remain agile in response to those changes.”

The company continued to burn cash last quarter: its free cash flow reached a negative $10 billion. To make matters worse, the company said that it expects capex to reach about $50 billion in the fiscal year ending May 2026 – $15 billion more than its September forecast – and investments at Oracle are financed by debt: overall, the company has about $106 billion in debt.

Frankly, the report was not dramatically bad, but it came to confirm concerns around heavy AI spending, financed by debt, with an unknown timeline for revenue generation, sending Oracle shares down by more than 11% in after-hours trading.

9am GMT: IEA’s monthly oil market report

9.50am GMT: Bank of England governor Andrew Bailey speaks at Financial Times Global Boardroom event

11am GMT: Turkey’s interest rate decision

1.30pm GMT: US trade data for September

1.30pm GMT: US initial jobless claims

This Trinidadian family saga blurs the line between real and imagined to create a multilayered history of an island and its people

Ever Since We Small opens in Bihar, India in 1899. Jayanti dreams of a woman offering her bracelets. Within days, her husband becomes sick and dies. Widowhood is not an option and Jayanti prepares for her own sati . Determined to apply the “godly might of English justice” and uphold a law banning the practice, an English doctor and magistrate muscle in to stop her. In an 11th-hour volte face, Jayanti, desiring life over the afterlife, allows herself to be saved. Triumphant, the magistrate suggests she become his mistress, but instead she opts to be shipped off to Trinidad. The island, she’s told, is a place where the shame of her choice will be forgotten.

Ever Since We Small, Celeste Mohammed’s second novel-in-stories, is a more cohesive work than Pleasantview, which won the Bocas prize for Caribbean literature in 2022. The opening chapter follows on from an academic introduction and Mohammed’s style is more reverent, less ballsy and humorous, than the warts-and-all portraits drawn in Pleasantview; but casting characters from the distant past often has that effect on novelists. The tone is appropriate, however; Mohammed here is the sober observer taking in the fate of women like Jayanti, who if they have choices at all, they are between bad and worse.

No parent should worry about their child’s safety while they work. But a crisis in our early-years sector is shielding predators such as Vincent Chan

I remember those initial heart-wrenching days and weeks leaving my daughter, aged nine months, at the nursery. She was distraught as I left, and I – like so many parents – headed off to work feeling guilty for leaving her, wondering if I was doing the right thing. Every parent does the research and nursery visits, reads the Ofsted reports and assumes that the staff in their chosen nursery will have the necessary qualifications and training to take care of their child. Obviously, there will be hiccups along the way, but never in your wildest nightmares do you think your child might be physically – or worse still, sexually – abused.

Yet the harrowing case of Vincent Chan , a former nursery worker in Camden, north London, who pleaded guilty to nine counts of sexual assault and 17 counts of taking or making indecent photos of children, hit the headlines last week, leaving parents with young children across the country feeling physically sick and asking the question: How did this happen? Tragically, this is not an isolated case.

Munira Wilson is Liberal Democrat MP for Twickenham

Most metros use plastic or metal, but the distinctive fabrics on London’s network are full of clues to its history

When I first came to London from Yorkshire in the late 1980s, I found the tube replete with bizarre novelties. Among them was the way most trains required me to sit sideways to the direction of travel, as on a fairground waltzer. Directly opposite me was another person or an empty seat, and while I knew not to stare at people, I did stare at the seats – at their woollen coverings, called moquette. I have since written two books about them, the first nonfiction, Seats of London , and now a crime novel, The Moquette Mystery.

I was attracted to moquette firstly because it, like me, came from Yorkshire (most of it back then was woven in Halifax), and whereas many foreign metros have seats of plastic or steel, moquette made the tube cosy. Yet it seemed underappreciated. The index of the standard history of the tube, for instance, proceeds blithely from Moorgate to Morden.

This Trinidadian family saga blurs the line between real and imagined to create a multilayered history of an island and its people

Ever Since We Small opens in Bihar, India in 1899. Jayanti dreams of a woman offering her bracelets. Within days, her husband becomes sick and dies. Widowhood is not an option and Jayanti prepares for her own sati . Determined to apply the “godly might of English justice” and uphold a law banning the practice, an English doctor and magistrate muscle in to stop her. In an 11th-hour volte face, Jayanti, desiring life over the afterlife, allows herself to be saved. Triumphant, the magistrate suggests she become his mistress, but instead she opts to be shipped off to Trinidad. The island, she’s told, is a place where the shame of her choice will be forgotten.

Ever Since We Small, Celeste Mohammed’s second novel-in-stories, is a more cohesive work than Pleasantview, which won the Bocas prize for Caribbean literature in 2022. The opening chapter follows on from an academic introduction and Mohammed’s style is more reverent, less ballsy and humorous, than the warts-and-all portraits drawn in Pleasantview; but casting characters from the distant past often has that effect on novelists. The tone is appropriate, however; Mohammed here is the sober observer taking in the fate of women like Jayanti, who if they have choices at all, they are between bad and worse.

No parent should worry about their child’s safety while they work. But a crisis in our early-years sector is shielding predators such as Vincent Chan

I remember those initial heart-wrenching days and weeks leaving my daughter, aged nine months, at the nursery. She was distraught as I left, and I – like so many parents – headed off to work feeling guilty for leaving her, wondering if I was doing the right thing. Every parent does the research and nursery visits, reads the Ofsted reports and assumes that the staff in their chosen nursery will have the necessary qualifications and training to take care of their child. Obviously, there will be hiccups along the way, but never in your wildest nightmares do you think your child might be physically – or worse still, sexually – abused.

Yet the harrowing case of Vincent Chan , a former nursery worker in Camden, north London, who pleaded guilty to nine counts of sexual assault and 17 counts of taking or making indecent photos of children, hit the headlines last week, leaving parents with young children across the country feeling physically sick and asking the question: How did this happen? Tragically, this is not an isolated case.

Munira Wilson is Liberal Democrat MP for Twickenham

Most metros use plastic or metal, but the distinctive fabrics on London’s network are full of clues to its history

When I first came to London from Yorkshire in the late 1980s, I found the tube replete with bizarre novelties. Among them was the way most trains required me to sit sideways to the direction of travel, as on a fairground waltzer. Directly opposite me was another person or an empty seat, and while I knew not to stare at people, I did stare at the seats – at their woollen coverings, called moquette. I have since written two books about them, the first nonfiction, Seats of London , and now a crime novel, The Moquette Mystery.

I was attracted to moquette firstly because it, like me, came from Yorkshire (most of it back then was woven in Halifax), and whereas many foreign metros have seats of plastic or steel, moquette made the tube cosy. Yet it seemed underappreciated. The index of the standard history of the tube, for instance, proceeds blithely from Moorgate to Morden.