Daily Recap: Business — 30 October 2026

Business news is split between companies spending for the next cycle and others cashing in on today’s conditions. Big Tech faces pressure over costly AI bets and softer consumer demand, while energy groups, crypto platforms and central banks are shaped by volatile markets, inflat...

Amazon shares fall after the company posts fiscal third-quarter results that miss some expectations and underscores a surge in artificial intelligence spending. Investors focus on heavier capital expenditure and cash use, while slower growth in Amazon’s online retail business adds to concern about how quickly those investments will translate into stronger returns.

ExxonMobil and Chevron report better-than-expected third-quarter profits, helped chiefly by strong refining margins as fuel prices rise during ongoing conflicts. The results show downstream operations doing much of the work, with refining strength standing out more than oil and gas production alone in lifting earnings above analysts’ forecasts.

BP posts its strongest quarterly profit in 18 years as higher refining margins and firmer oil and gas prices lift earnings. The jump comes amid tensions in the Middle East, with conflict-linked price moves feeding through to the company’s refining business and giving BP a sharp boost in the quarter.

The Bank of Japan leaves interest rates unchanged and says it has reached its 2% inflation target. The decision suggests confidence that price growth has moved into the desired range, while the central bank maintains a cautious stance and continues to monitor whether inflation proves durable enough to support future policy moves.

Coinbase returns to profit in the third quarter as gains on its cryptocurrency investments offset weaker trading activity. The results reflect how a recovery in digital-asset markets improves the value of the company’s holdings, helping stabilize earnings even as its core transaction business remains softer.

UK house price growth slows to its weakest annual pace since January 2024 as higher mortgage rates weigh on demand. Nationwide says prices are flat on the month in October, with the average home valued at £273,566, pointing to a housing market losing momentum under tighter borrowing conditions.

EA shuts down BioWare and cancels the next Mass Effect project as it shifts resources toward an unannounced Star Wars: Battlefront 3. The move reflects a choice to back a franchise seen as a safer commercial bet, sacrificing one major sci-fi sequel in favor of another with more predictable sales potential.

Google hardware goes on early Black Friday sale, with Pixel 11 phones and the Pixel Watch 5 marked down to record-low prices. The standard Pixel 11 falls to $699 after a $200 cut, while higher-end Pro models receive steeper discounts, signaling an aggressive push to drive holiday demand.