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Five former Barclays traders who were accused of manipulating the interest rates used for loans between banks have had their convictions overturned by the UK Court of Appeal. Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham were previously convicted for manipulating Libor and Euribor rates. The Serious Fraud Office (SFO) did not oppose the appeals. Tom Bushnell, a partner at Hickman & Rose, said the SFO "must reflect on how its repeated failure to ensure these trials were conducted fairly contributed to the collapse of its most significant series of prosecutions of the past fifteen years."

 

France 24

BBC News

The Times

The Daily Telegraph

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A nationwide general strike in Spain over housing issues has been announced by labour unions for November 11. The UGT and CCOO unions called on people to "mobilise for better salaries, for decent housing and for price controls in the face of inflation that undermines our purchasing power." They said the proposed action "is the response to the insatiable real estate greed that speculates with one of the public's main rights, making access to a decent home practically impossible," as they denounced "a corporate policy that takes advantage of the country's economic growth to swell its wealth with large profits at the expense of working people's wages." The strike will take place a few weeks before a snap election in which the topics of rising rents and evictions feature strongly.

 

AFP

Reuters

Trade unions FNV and CNV will announce a regional public transport strike on Friday after the deadline for a collective labour agreement expired. The unions warned that if employers do not meet the deadline, they will initiate actions starting from October 12.

 

NL Times

An independent report estimates Russia-linked hostile activity costs UK taxpayers more than £2.5bn a year, including £1.5bn from cyberattacks, up to £500m in subsea cable damage. and £500m in private-sector losses. More than 300 Russia-linked cyber incidents have occurred since 2022, and costs are expected to rise as hybrid warfare intensifies. Tom Keatinge from the Royal United Services Institute (RUSI) said: "The economic consequences of hostile activity must inform the government's assessment of the threat, its responses and the resources it commits. Understanding the price Britain already pays is essential to protecting its future."

 

Daily Mail

The World Health Organization (WHO) is seeking more information from Russia regarding the death of Darya Shipilova, a 28-year-old laboratory worker at the Irkutsk Antiplague Research Institute in the Irkutsk region. Shipilova died from severe pneumonia: authorities are yet to determine the cause. Russian health officials have quarantined around 200 individuals but have reported no dangerous pathogens among those tested. WHO Director-General Tedros Adhanom Ghebreyesus emphasised the need for "timely, complete and transparent information sharing." The Kremlin stated that established procedures were followed in notifying the WHO, which said Russian authorities had reported that no plague cases had recently been registered in the Irkutsk region.

 

Helsinki Times

Pfizer is to cut around 330 jobs at its Sicily plant following unsuccessful talks in Rome between the US drugmaker and Italy's ​industry ministry, the CGIL, CISL and ⁠UIL labour unions have said. The industry ministry said "the points raised during the meeting serve as a ​starting point for strengthening the dialogue." Industry minister Adolfo Urso plans to visit the plant ‌on ⁠October 23, and further talks are scheduled for November 10.

 

Reuters

HSBC is planning major job cuts across its UK wealth management business as part of a wider push to integrate AI. Around half of management and specialist roles could go, while financial adviser numbers may be reduced by up to 70%. The changes are currently under consultation; affected staff are expected to leave by the end of October.

 

Financial Times

Reuters

Nokia plans to reduce its workforce in Finland by up to 253 positions as part of a cost-saving initiative. The company said it aims to redirect investments towards defence, artificial intelligence, and data centres. Currently employing about 6,800 people in Finland, the cuts represent approximately 3.7% of Nokia's workforce. Mikko Hautala, Nokia Finland's country manager, said: "Our intention is to continue investing in strategically important areas." Negotiations with employee representatives will begin on 12 October.

 

Helsinki Times

YLE Uutiset

Boots has been sold to Canada's billionaire Weston family in an $8.9bn (£6.7bn) deal, bringing new long-term ownership to the 177-year-old UK retailer. Wittington Investments, the family's holding company, agreed to buy Boots from US private equity firm Sycamore Partners and the Pessina family. The chain has about 1,800 UK stores and 51,000 employees. Annual sales rose 3.2% to £7.5bn last year. The Westons plan to invest in stores and expand healthcare services. Experts expect little immediate change for shoppers. The deal includes Boots' UK and Irish operations, Boots Opticians and No7 Beauty Company, and is expected to complete in early 2027. 

 

BNN Bloomberg

Financial Times

The Daily Telegraph

BBC News

The Times

Volkswagen Financial Services (VWFS), the UK financing arm of the German automaker, has reported a £352.9m loss for 2025, marking a significant swing from the £110.3m profit logged the previous year. The loss comes after the firm set aside £725m to cover possible expenses from the Financial Conduct Authority's motor finance redress scheme. VWFS said revenue rose to £3.41bn from £3.14bn the year prior.

 

Financial Times

The Times

Germany's industrial production rose by 2% in August, reaching its highest level in 18 months, according to Destatis. This increase follows a 1.2% decline in July and is attributed to strong growth in the construction sector, which expanded by over 9%. Carsten Brzeski, an economist at ING, observed: "After a setback in July, Germany's cyclical rebound gained new momentum in August." The auto sector, however, saw a decline of over 5%, partly due to factory holidays, and industrial activity overall "remains subdued," the economy ministry said.

 

France 24

Analysis suggests that the Middle East conflict has reduced Britain's fiscal headroom to about £12bn, marking a significant decline from the £23.6bn forecast by the Office for Budget Responsibility in March. 

 

Financial Times

Procrastination significantly impacts students' academic performance, according to a US study involving over 65,000 young people. Nearly 50% of respondents identified procrastination as a major barrier to their studies, surpassing issues including depression and anxiety. The study warns of a situation where procrastination leads to stress, sleep issues, and further procrastination. Itamar Shatz, the study's author, said: "Pretty much all of us procrastinate, but it's not a huge impediment for all of us. For the people that it is, it can be huge . . . It's an obstacle that can interfere with academic success, with success in the workplace, it can cause issues in relationships, it can cause stress, it can cause health issues and stop us reaching out for help."

 

The Guardian