Daily Recap: Business — 29 October 2026

Business news centers on how companies are paying for the next phase of growth as artificial intelligence, health care demand and consolidation reshape markets. Investors reward strong execution, but they are also showing less patience with expensive bets, weak demand and deals t...

The U.S. economy grows at a 3.4% annual rate in the third quarter, beating expectations and showing continued resilience. Consumer spending and business investment help drive the expansion, including outlays tied to artificial intelligence, while inflation remains elevated enough to keep pressure on companies, households and policymakers.

Alphabet shares fall sharply after quarterly results come in below expectations, dragging on major U.S. indexes. The market reaction focuses on whether the company’s heavy artificial-intelligence spending will generate returns quickly enough, even though parts of Google’s broader business continue to post growth.

DoorDash agrees to buy Instacart for about $17 billion, a deal that would deepen its push into grocery delivery and sharpen competition in the sector. The offer values Instacart at $65 a share and is structured with at least three-quarters of the consideration in cash.

Microsoft is expected to raise at least $25 billion in the U.S. investment-grade bond market, its first domestic borrowing at that level in more than nine years. The financing would help support large capital needs tied to artificial-intelligence investment, with final size and pricing set by investor demand.

Eli Lilly lifts its sales outlook again as demand stays strong for Zepbound and Mounjaro, extending the company’s momentum in weight-loss and diabetes treatments. The new guidance underscores how prescription obesity drugs remain one of the strongest growth areas in the pharmaceutical business.

Volkswagen posts a quarterly loss of about $6.5 billion as weak demand in China and one-time charges, including a Porsche writedown, hit results. The performance ranks among the company’s worst in years and highlights the pressure facing major automakers in a slowing and more competitive market.

Australia’s corporate regulator is investigating the failed Firmus Grid initial public offering after the planned $44 billion float collapsed earlier this month. The inquiry focuses on how demand for the shares was presented and whether bankers may have misrepresented investor interest or faced conflicts.

Wall Street firms are reportedly paying Truth Social for faster access to Donald Trump’s posts, in some cases at prices reaching $100,000 a month. The arrangement reflects the market value firms place on receiving potentially market-moving political statements before they appear through slower public channels.