Daily Recap: Business — 2 November 2026

Capital is flowing toward scale, infrastructure and artificial intelligence, while consumers still keep spending on travel and entertainment. At the same time, rising input costs and softer factory momentum point to pressure building beneath parts of the global business outlook....

Oracle plans to raise $20 billion through a mix of bonds and stock sales to fund a larger push into artificial intelligence and cloud computing. The financing would give the company fresh capital for data centers, computing capacity and other expansion needs as competition intensifies across enterprise AI infrastructure.

SpaceX is discussing a deal involving Boost Mobile as it works toward a broader move into the US wireless market. An acquisition or network-access arrangement would give the company an established cellular footprint and could help connect its satellite ambitions with a conventional mobile service reaching more retail customers.

OpenAI chief Sam Altman signs multiple agreements in Abu Dhabi aimed at bringing AI tools into government and energy operations. The deals span areas including public services, investment analysis and wider AI deployment, deepening ties with state-backed institutions in the UAE as OpenAI also seeks additional funding.

A Blackstone-led investor group agrees to invest $3.1 billion for a 49.9% stake in a Mitsubishi subsidiary tied to LNG Canada. The transaction gives the buyers a large minority position in the liquefaction business while allowing Mitsubishi to sell down part of its holding in a major gas-export project.

Ryanair says European airfares could rise by double digits in 2027, possibly by as much as 20%, as its fuel hedges expire and jet fuel costs feed through more fully. The airline also reports lower first-half profit after tax, reflecting the pressure that unhedged fuel prices are already putting on earnings.

Marriott beats third-quarter 2026 expectations and raises its outlook, pointing to resilient travel demand across its hotel portfolio. The results suggest consumers and business travelers continue to spend on lodging, with North America providing particular strength despite broader concerns about the durability of discretionary demand.

India’s manufacturing PMI slows to 54.7 in October from 55.1 in September, signaling that factory growth eases but remains firmly in expansion territory. The reading stays above both the 50 mark and its long-run average, indicating manufacturing activity continues to grow even as output momentum softens.

Phantom Blade Zero posts a blockbuster launch, selling more than four million copies across PC and PlayStation 5 in its first 72 hours. The Chinese action role-playing game also draws huge engagement on Steam, where peak concurrent players climb above 800,000, underscoring strong global demand for a major new release.