The Guardian: Reeves “discussing an increase to income tax” in November budget
UK Chancellor Rachel Reeves is considering an income tax rise in next month’s budget to address a £30bn shortfall, potentially breaking a key Labour pledge. Options include adding 1p to the basic rate, raising £8bn, or smaller increases to higher rates. The move would boost fiscal “headroom” but carries political risks after last year’s national insurance rise. Meanwhile, the Booker Prize Foundation has launched a new £50,000 Children’s Booker prize for fiction for ages eight to 12, starting in 2026 and judged by adults and children to celebrate children’s literature and promote reading for pleasure.
Financial Times: Asia refineries weigh curbing Russia oil after us sanctions
India and China’s largest refineries are cutting Russian oil imports after US President Donald Trump’s new US sanctions on Rosneft and Lukoil, aimed at curbing funds for Russia’s President Vladimir Putin’s war in Ukraine. Reliance Industries and Chinese state firms have paused purchases to avoid US penalties, threatening a sharp drop in Russia’s exports, 80% of which go to the two countries, while Opec signals it may boost supply if needed. The front page also reports that Blackstone president Jonathan Gray said the period of exceptionally high private-credit returns has ended as falling interest rates reduce yields, though private loans still outperform public debt. Despite lower returns, Blackstone reported stronger-than-expected third-quarter results, buoyed by renewed dealmaking, $54bn in new investments, and robust fundraising from institutional and retail investors.
The New York Times: U.S. charges insiders in N.B.A. gambling scams
Over 30 people, including NBA figures Terry Rozier, Chauncey Billups, and Damon Jones, were charged in two major gambling schemes involving insider basketball bets and Mafia-run rigged poker games. Prosecutors allege Rozier shared private game information for betting profits, while Billups and Jones participated in poker games that defrauded victims of millions. The indictments, part of an FBI–NYPD investigation, mark the NBA’s most serious gambling scandal since 2007. Both the league and the accused deny wrongdoing, with Rozier and Billups placed on immediate leave. Another report addresses that Russian President Vladimir Putin called new U.S. oil sanctions “an unfriendly act,” warned of a severe response if Ukraine receives long-range missiles, and signalled that Russia will not yield under pressure, with analysts noting the sanctions are unlikely to change his war aims.
El País: La declaración de la periodista estrecha el cerco judicial a Mazón por la dama
The judiciary is tightening scrutiny on Valencian Community President Carlos Mazón over his handling of the October 29 flood that killed 229 people. The Provincial Court has ordered journalist Maribel Vilaplana to testify after lunching with Mazón for over three hours at El Ventorro restaurant during the disaster. The court overturned a previous decision that had blocked her testimony, citing its relevance, including Vilaplana’s admission that she left later than initially stated and that Mazón discussed offering her a position at the public broadcaster À Punt. She is scheduled to testify on November 3. Another headline addresses how the EU approved new sanctions against Russia targeting its energy sector, diplomats, and crypto assets to weaken its war economy and replace Russian energy with alternative supplies, following U.S. penalties on the Kremlin’s oil industry.
Clarín: Caputo dijo que está cómodo con el dólar a $1.500: Subieron los bonos y las acciones
Ahead of Argentina’s parliamentary elections, Finance Minister Luis Caputo said he is “comfortable” with the peso at 1,500 per dollar, a statement that boosted both stocks and bonds, even as the market remains highly volatile and liquidity tight. Meanwhile, amid cabinet resignations, Javier Milei led La Libertad Avanza’s campaign closing in Rosario, delivering a speech at Parque España surrounded by candidates, ministers, and supporters. He declared that despite attacks from a “destituent Congress,” the party arrives at the elections standing strong and promised to “change Argentina from zero” starting Sunday.
