The 10-year French government bond yield has hit a record high of 5%, reflecting increased borrowing costs and inflation, which has contributed to a decline in the value of the French franc and raised concerns about the sustainability of the French government's debt.
A protester waving a French national flag walks past a fire during clashes prior to the start of a demonstration to protest against the "high cost of living", in Marseille, southern France, on Oct. 17, 2026.
Thibaud Moritz | AFP | Getty Images
This is breaking news. Please refresh for updates.
Elon Musk is reportedly planning to merge SpaceX and Tesla into a $3.6 trillion company, aiming to revolutionize space exploration and transportation. However, the process faces significant hurdles, including shareholder votes and regulatory scrutiny. The merger would combine SpaceX's rocket technology with Tesla's electric vehicles, but the lengthy and challenging process is expected to dominate the future of space exploration and automotive technology.
### Briefing At least $83,000 has been lost in phishing scams linked to fake Simba websites since March, according to police warnings. Victims searched Google for Simba top-up services, clicked on sponsored fake sites, and entered their banking details. The police advised checking web addresses carefully, using the legitimate top-up site "https://topup.simba.sg", and avoiding search engines.
The Chancellor's Budget faces significant challenges due to rising inflation and increased borrowing costs, with the National Debt reaching £3 trillion and inflation hitting 3.5%, likely to rise further. Despite the desire for "breathing space" for consumers, public finances remain under pressure. The Bank of England is closely monitoring services and core inflation, suggesting a potential interest rate rise next month. Welfare payments will see an increase of 3.9% next April, and while food prices remain stable,…