Vojna, ropa a monzún tlačia infláciu nahor

WORLD

• IMF warns wars keep food prices high, inflation threatens country stability. Wars and crises impact food and energy prices more than expected, threatening stability for many countries and working families.
• OpenAI published 722 math manuscripts, only 162 have a verified main result. The company claims most manuscripts came from one prompt, but only 162 have a verified main result in Lean. Prompts and the model are not published.
• Levi Strauss raised earnings per share outlook, lowered revenue growth outlook to 7 percent. Returned tariffs boosted profits, but revenue slightly missed analyst estimates. The company expects earnings per share of $1.54 – $1.56.

EUROPE

• Šefčovič negotiates in Beijing, China opens anti-dumping proceeding against the EU. European Commissioner Šefčovič is negotiating with Chinese Minister Wang Wentao, while China opened an anti-dumping investigation into imports of p-nitrotoluene from the EU before the talks. Šefčovič described the communication so far as constructive.

SLOVAKIA

• State signed deal to buy ČEZ’s share in JESS for 189 million euros, opposition questions price. Slovakia, through JAVYS, signed a contract with ČEZ to buy 49 percent of JESS, and will solely control preparation of a new nuclear power plant in Bohunice after the sale is settled. The price of 189 million euros was confirmed by a new valuation, but the opposition criticizes the valuation and transparency.

GOLD

• LBMA faces lawsuit from families of men allegedly shot by police in Tanzania. A six-week trial began in London, where families of two men are suing the LBMA for deaths allegedly caused by police at the North Mara mine in 2019. LBMA denies all claims.
• Canadian mining has political support, but copper and nickel production fell over decade. The outgoing head of Mining Association of Canada said the sector gained political support and must convert it into new mines. Copper and nickel production fell over ten years, while gold production increased.

STOCKS

• SpaceX negotiating $40 billion for Nvidia chips, AI bond spreads widened. The company is negotiating with Apollo and banks for debt financing to purchase $40 billion in GPUs from Nvidia. Chips would serve as collateral, but AI bonds have been sold off since June and credit spreads widened.
• Apollo made offer for Uniper, multiple interested parties bid for German company. The American investment firm made a non-binding offer for the German company Uniper, which has attracted multiple investors. Germany plans to sell more than 74 percent of the stake.
• No report.

CRYPTO

• Drake: AI could break ECDSA sooner than quantum computers, but urges calm. An Ethereum Foundation researcher warns AI could break ECDSA signatures, underpinning Bitcoin and Ethereum, before quantum computers. He suggests planning to move funds to addresses with hidden public keys, but also urges against panic.
• Hill: SEC and CFTC rules don’t replace law, Clarity Act failed in Senate. The Chairman of the House Financial Services Committee said crypto rules from the SEC and CFTC do not replace law. He hopes the Clarity Act will pass during the lame-duck session, though it did not get the required 60 votes in the Senate.

REAL ESTATE

• US mortgage applications fell, 30-year mortgage rate rose to 7.49 percent. Total volume of US mortgage applications fell for the fifth consecutive week, while the 30-year mortgage rate rose to 7.49 percent. Bond yields rose despite Treasury buybacks.

Translated from the Slovak original and checked automatically: every figure must match the source, or this version is not published.