Harris calls on America to ‘turn the page’ on Trump

Good morning. In at the moment’s information:

• Alphabet and Reddit shares rise

• Ukraine and Russia in talks

• Why boards ought to take an opportunity on youth

However with lower than per week to go earlier than the US election we flip to politics for our first story. Vice-president Kamala Harris pulled few punches final night time as she urged People to “turn the page” on Donald Trump in her remaining main speech of the marketing campaign watched by an estimated 75,000 individuals.

“America, we know what Donald Trump has in mind: more chaos, more division and policies that help those at the very top and hurt everyone else,” she mentioned on The Ellipse in Washington DC, with the White Home illuminated behind her. “I offer a different path, and I ask for your vote.”

Within the largest speech of her political profession, Harris highlighted the chance her opponent posed to American democracy if elected. The occasion was on the location the place, on January 6 2021, Trump urged his supporters “to fight like hell” hours earlier than they stormed the Capitol.

However the speech was considerably overshadowed by feedback made by Joe Biden. Talking on a Zoom video name to Latino campaigners, the president appeared to explain Trump supporters as “garbage”. The White Home mentioned Biden was responding to feedback made by comic Tony Hinchcliffe, who described Puerto Rico as “a floating island of garbage”. Learn extra on Harris’s “closing argument”.

As we depend right down to the vote subsequent Tuesday, campaigning continues at the moment. Trump will maintain rallies within the battleground states of North Carolina and Wisconsin. Harris may also be campaigning in these states, in addition to Pennsylvania.

Right here’s extra of our election protection:

• Backlash: James Politi experiences from the Puerto Rican neighbourhood of Allentown, Pennsylvania the place activists say Trump might lose plenty of votes following feedback at Sunday’s rally in New York.

• Company taxes: Goldman Sachs estimates the distinction between the candidates’ tax plans is 1 / 4 of a trillion {dollars}. One professional describes the election as “a significant fiscal event”.

• Michigan: Patti Waldmeir experiences from Kent County in Michigan the place an inflow of better-paid younger professionals and blue-collar Latino voters has modified the electoral calculus on this “purple island” on the “red shores” of Lake Michigan.

• Opinion: Harris is appropriate that the republic is at risk however that message might not suffice to forestall a Trump victory, writes Edward Luce.

• Martin Wolf: Our chief economics commentator says a second Trump administration could be far worse than the primary for the US and the world.

Right here’s what else I’m maintaining tabs on at the moment:

• Outcomes: Meta and Microsoft develop into the newest know-how firms to report earnings. Different firms reporting embody Eli Lilly, AbbVie, Kraft Heinz, Starbucks, Caterpillar, Coinbase and Robinhood.

• Financial information: The US authorities releases flash third-quarter GDP. ADP, the personal sector payrolls processing firm, releases its US employment report for October.

• UK Price range: Rachel Reeves, the UK chancellor, will ship Labour’s first monetary assertion for 14 years following the celebration’s election win in July.

5 extra prime tales

1. Alphabet’s revenue jumped 34 per cent within the third quarter because the guardian firm of search large Google reported robust progress in its cloud enterprise amid strong demand for computing and information providers used to coach and run generative synthetic intelligence fashions. Learn the total story.

• Reddit: The social media platform shocked Wall Road by turning a revenue for the primary time simply months after going public, sending shares up 25 per cent to a report excessive.

2. Unique: Ukraine and Russia are in preliminary talks about halting strikes on one another’s vitality infrastructure, in line with individuals aware of the matter. They mentioned Kyiv was looking for to renew Qatar-mediated negotiations that had been derailed by this summer time’s Kursk incursion. An settlement would mark the most important de-escalation of the warfare since Russia invaded in 2022.

• North Korean troops: Kyiv is on excessive alert because it awaits Pyongyang’s potential entry into the warfare, which might mark the battle’s first intervention by a international military.

3. UBS has reported internet revenue of $1.4bn for the third quarter, smashing expectations because the Swiss financial institution’s buying and selling enterprise benefited from elevated market volatility and price chopping. Funding financial institution income rose 22 per cent to $2.6bn, helped by robust efficiency from its international markets division whereas income on the international wealth administration enterprise rose barely. Banking editor Ortenca Aliaj has extra.

• Extra European outcomes: Volkswagen burdened “the urgent need” to hold out vital plant closures and job cuts because it reported a 64 per cent drop in quarterly internet income.

• German authorities on brink of collapse: The VW job cuts and a stagnating economic system have left Olaf Scholz’s coalition in disarray.

4. Buyers’ “fear of missing out” on gold’s rally has sparked report demand for the dear steel, at the same time as excessive costs push central banks to cut back their purchases. The worth of world demand handed $100bn for the primary time within the third quarter of this yr, in line with business physique the World Gold Council. Right here’s what’s driving the unprecedented demand.

5. Pfizer’s chief government fired again at activist investor Starboard Worth yesterday because the drugmaker upped its 2024 income projections. Albert Bourla argued the corporate was already pushing forward with a turnaround and that its plan would repay in his first public feedback because the activist investor criticised Pfizer’s board at a convention earlier this month.

Visible investigation

Sudan has descended into what’s arguably the world’s most brutal civil warfare, with no signal of a victor or a peace deal. Reporting by the Monetary Instances demonstrates a method that atrocities are being dedicated: deliberate assaults on docs and hospitals. By way of satellite tv for pc evaluation and interviews, our newest visible investigation reveals how the preventing is taking a devastating toll on the nation’s well being services.

We’re additionally studying . . . 

• Arm’s ambitions: The UK chip designer, whose shares have trebled in worth over the previous yr, might be the sudden winner of the AI funding increase.

• Apple and Goldman: The tech large’s bank card with the Wall Road financial institution is a cautionary story for these looking for to reinvent retail finance, writes Brooke Masters.

• Large African rat: A furry investigator has boosted the ranks of these sniffing out contraband within the profitable unlawful wildlife commerce.

Chart of the day

Samsung Electronics is struggling to carry on to its crown because the world’s top-selling smartphone maker. The Korean tech large was the one one of many prime 5 international smartphone makers to expertise falling shipments within the third quarter of this yr, shedding market share to longtime US rival Apple and Chinese language contenders providing slick new foldable units.

Take a break from the information

Age issues in relation to boards, writes Anjli Raval. Simply 5 per cent of administrators inside the S&P 500 firms are below the age of fifty however firms shouldn’t be afraid to take an opportunity on youth, argues Raval.