📡 Hourly Briefing | 22:00-23:00
1. RecodeX recap: Iran has continued to bring military equipment into the country through a covert network comprising multiple military agencies, bypassing the blockade imposed by the United States. The network involves several undisclosed military departments and has become a key channel for Iran to evade U.S. restrictions and maintain its arms supply.
2. RecodeX recap: Investors in Monte dei Paschi di Siena rejected Banco BPM’s takeover offer, putting Intesa in a stronger position in the related bidding contest.
3. RecodeX recap: The U.S. core PCE price index rose month over month in September. The inflation gauge most closely watched by the Federal Reserve indicates that inflationary pressure has not fully subsided. GDP data released for the third quarter also exceeded market expectations, suggesting the economy remains resilient despite high interest rates.
4. RecodeX recap: Bloomberg reports that contests for Florida’s governorship and Senate and House seats in the 2026 midterm elections are intensifying, forcing Republicans onto the defensive. The state, long dominated by Republicans and once considered a swing state, has again become a political battleground between the two parties.
5. RecodeX recap: Volkswagen reported a quarterly loss of $6.8 billion. Chief Financial Officer Arno Antlitz said the company’s results so far this year mean “we can’t afford to waste any more time; we must act quickly and decisively.” The results were hit by a combination of falling demand in China, Trump’s tariffs, and an impairment of Porsche assets.
6. RecodeX recap: Standard Asset Company, backed by Dubai’s royal family, announced the launch of a $1.5 billion Bitcoin investment strategy. The strategy will incorporate Bitcoin into its asset allocation framework, but details on implementation and timing have not yet been disclosed.
7. RecodeX recap: Volkswagen is facing cuts of up to 100,000 jobs and the closure of four factories. Falling demand in China, Trump’s tariff policies, and difficulties in Porsche’s business have all weighed on the company’s profits, forcing Volkswagen to move ahead with this round of major downsizing.
8. RecodeX recap: On October 29, Singapore police said they had received at least two reports since September 10 from people who lost a combined total of about S$3.5 million after purchasing Ledger hardware wallets through some local retail channels. Preliminary investigations indicate that some Ledger devices sold by local retailers contained malicious hardware components capable of stealing recovery phrases or private keys and transferring crypto assets without users’ knowledge. Police are in contact with Paris-based Ledger and reviewing the related cases. Police issued a warning.
1. RecodeX recap: Iran has continued to bring military equipment into the country through a covert network comprising multiple military agencies, bypassing the blockade imposed by the United States. The network involves several undisclosed military departments and has become a key channel for Iran to evade U.S. restrictions and maintain its arms supply.
2. RecodeX recap: Investors in Monte dei Paschi di Siena rejected Banco BPM’s takeover offer, putting Intesa in a stronger position in the related bidding contest.
3. RecodeX recap: The U.S. core PCE price index rose month over month in September. The inflation gauge most closely watched by the Federal Reserve indicates that inflationary pressure has not fully subsided. GDP data released for the third quarter also exceeded market expectations, suggesting the economy remains resilient despite high interest rates.
4. RecodeX recap: Bloomberg reports that contests for Florida’s governorship and Senate and House seats in the 2026 midterm elections are intensifying, forcing Republicans onto the defensive. The state, long dominated by Republicans and once considered a swing state, has again become a political battleground between the two parties.
5. RecodeX recap: Volkswagen reported a quarterly loss of $6.8 billion. Chief Financial Officer Arno Antlitz said the company’s results so far this year mean “we can’t afford to waste any more time; we must act quickly and decisively.” The results were hit by a combination of falling demand in China, Trump’s tariffs, and an impairment of Porsche assets.
6. RecodeX recap: Standard Asset Company, backed by Dubai’s royal family, announced the launch of a $1.5 billion Bitcoin investment strategy. The strategy will incorporate Bitcoin into its asset allocation framework, but details on implementation and timing have not yet been disclosed.
7. RecodeX recap: Volkswagen is facing cuts of up to 100,000 jobs and the closure of four factories. Falling demand in China, Trump’s tariff policies, and difficulties in Porsche’s business have all weighed on the company’s profits, forcing Volkswagen to move ahead with this round of major downsizing.
8. RecodeX recap: On October 29, Singapore police said they had received at least two reports since September 10 from people who lost a combined total of about S$3.5 million after purchasing Ledger hardware wallets through some local retail channels. Preliminary investigations indicate that some Ledger devices sold by local retailers contained malicious hardware components capable of stealing recovery phrases or private keys and transferring crypto assets without users’ knowledge. Police are in contact with Paris-based Ledger and reviewing the related cases. Police issued a warning.