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NewsNov 4, 2026 · 12:14 IST

US Midterm Projections Point to Democratic Control of Congress

US media projections following the 3 November 2026 midterm elections indicate Democrats have won the House and made major Senate gains. Reuters reported House control was projected in the Democrats’ favour; Axios reported a Democratic Senate takeover based on Associated Press projections. Some races were still being counted when the reports appeared. These are media projections rather than certified final congressional results, and reports of market losses cannot by themselves prove the election was the sole catalyst.

NewsNov 3, 2026 · 13:27 IST

Vessel Damaged by Unknown Projectile in Strait of Hormuz, UKMTO Says

A vessel transiting the Strait of Hormuz was struck by an unknown projectile, leaving a hole in the ship, the United Kingdom Maritime Trade Operations centre said on 2 November 2026, according to the Associated Press. UKMTO reported that all crew members were safe. The origin of the projectile, vessel identity, extent of operational damage and responsibility for the incident were not established in the cited account. The incident is distinct from earlier unconfirmed Iranian claims about tankers hitting mines.

NewsNov 3, 2026 · 13:21 IST

China Plans Envoy Visit to Iran, Oman and Saudi Arabia as Gulf Tensions Rise

China announced on 2 November 2026 that it would send a special envoy to Iran, Oman and Saudi Arabia in early to mid-November to encourage dialogue and help ease Gulf tensions. Chinese Foreign Minister Wang Yi held separate discussions in Beijing with Iranian and Saudi security officials and urged political solutions rather than renewed military action. Beijing highlighted regional energy flows and shipping security. The announced trip is a diplomatic initiative; no ceasefire, mediation agreement or reopening of shipping routes was confirmed.

NewsNov 03, 2026, 01:13 PM GMT+5:30

US Carries Out Limited Strikes on Iranian Targets Near Qeshm Island

The United States carried out limited strikes against Iranian targets on Qeshm Island in the Strait of Hormuz on 2 November 2026, according to US officials speaking to Reuters and the Associated Press. One US official said the strikes targeted Iranian forces using surface-to-air missiles against US assets. Iran’s state news agency reported explosions on the island. Officials described the action as defensive rather than a resumption of major combat operations. US Central Command did not provide a public response in the Reuters report. The extent of any damage or casualties has not been verified.

NewsNov 3, 2026 · 12:59 IST

China Raises Banks' FX Reserve Ratio to 6% to Moderate Yuan Rally

The People's Bank of China announced on 3 November 2026 that it will raise the foreign-exchange deposit reserve requirement for financial institutions from 4% to 6% with effect from 15 November. Reuters estimated that the adjustment could withdraw around $24 billion in foreign-currency liquidity from the banking system. The measure follows a more than 5% rise in the yuan this year. Reuters reported that the onshore yuan weakened by as much as 0.37% against the US dollar after the announcement. This foreign-exchange reserve requirement change is separate from the PBOC's earlier equity-support swap facility and short-term repo operations.

NewsNov 3, 2026 · 12:54 IST

New Zealand Building Consents Fall 7.9% in September Despite Annual Growth

Stats NZ reported on 3 November 2026 that the seasonally adjusted number of new dwellings consented declined 7.9% in September after a 5.3% increase in August. There were 3,570 new dwellings consented during September. In the year ended September, 41,091 new homes were consented, up 18% from the previous year, while the annual value of non-residential building work consented fell 3.1% to NZ$8.7 billion. The monthly decline and stronger annual count highlight different time horizons; a building consent is not proof that construction has started.

NewsNov 3, 2026 · 12:48 IST

ECB Official Flags AI Valuations and Sovereign Bonds as Financial Stability Risks

European Central Bank Vice-President Boris Vujcic identified elevated AI equity valuations, government-bond market stress and potential losses at investment funds and other non-bank financial institutions as leading risks to financial stability, according to Reuters reporting on 2 November 2026. He noted that the ECB's forthcoming Financial Stability Review, scheduled for 18 November, was prepared as AI stocks began to correct. Vujcic said fiscal weaknesses should primarily be addressed by governments rather than relying on central-bank intervention. These are official risk assessments, not a newly announced ECB interest-rate decision or emergency market intervention.

NewsNov 3, 2026 · 12:15 IST

Marvell Agrees to Buy Lumentum in $115 Billion All-Stock AI Optics Deal

Marvell Technology and Lumentum announced a definitive all-stock acquisition agreement on 2 November 2026. Under the proposed terms, Lumentum shareholders would receive 4.500 Marvell shares for each Lumentum share. The companies gave the transaction an implied enterprise value of approximately $115 billion, including an implied value of roughly $1,132 per Lumentum share. Marvell shareholders are expected to own around 67% of the combined company and Lumentum shareholders 33% after closing. The deal is announced, not completed, and remains subject to closing conditions.

NewsNov 3, 2026 · 12:07 IST

Apple Q4 Revenue Climbs 12% to $114.5 Billion as Holiday Margins Face Pressure

Apple reported fiscal fourth-quarter 2026 revenue of $114.5 billion, up 12% year on year, in results released on 2 November. Diluted earnings per share were $2.10, up 14%, and the quarter’s gross margin was 47.9%, including a favourable impact from tariff refunds. The company reported a September-quarter record for iPhone revenue and an all-time high for Services revenue. Subsequent outlook commentary indicated a lower gross-margin range for the holiday quarter as memory costs and product investment increased. These are company-reported results and guidance, not a confirmed future earnings outcome.

NewsNov 03, 2026, 11:52 AM GMT+5:30

Oracle Plans $20 Billion Stock and Bond Financing for AI Build-Out

Oracle announced plans on 2 November 2026 to raise approximately $20 billion to finance its AI and cloud infrastructure expansion, with about $10 billion from an equity offering and $10 billion from bonds. Reuters reported that the company priced 86.2 million shares at $116 each, around an 11.2% discount to its previous close, and that its shares fell 8.8% during the session. The proceeds may be used for capital expenditure and other general corporate purposes. The financing announcement is a confirmed corporate transaction, while future spending outcomes remain uncertain.

NewsNov 3, 2026 · 11:46 IST

Palantir Q3 Revenue Jumps 96% to $2.31 Billion, Raises Annual Outlook

Palantir reported third-quarter 2026 revenue of $2.313 billion, up 96% year on year, on 2 November. US commercial revenue increased 148% to $984 million and exceeded US government revenue of $953 million for the first time. Palantir raised its full-year revenue forecast to $8.530 billion–$8.534 billion and guided fourth-quarter revenue to $2.649 billion–$2.653 billion. The results were disclosed in a company earnings release filed with the US Securities and Exchange Commission. The annual and next-quarter guidance is forward-looking, not realised revenue.

NewsNov 3, 2026 · 11:37 IST

RBA Raises Cash Rate to 4.85% in Split 6–3 Vote as Inflation Persists

The Reserve Bank of Australia increased its cash-rate target by 25 basis points to 4.85% at its 3 November 2026 meeting, up from 4.60%. Six Monetary Policy Board members supported an increase and three favoured no change. The rate is its highest since 2008 and marks a fifth increase in 2026. The RBA said inflation remains too high, with elevated fuel prices and domestic cost pressures complicating the return to its target range. The rate decision is confirmed; further increases remain conditional rather than announced.