International - Financial Times - Credit Squeeze

Giorgia Meloni’s administration would hit EU target a year earlier than anticipated due to bumper tax revenues

While the US focuses on the cutting edge, China is stealing a march in ‘foundational’ semiconductors

Statistics for September reveal continuing impact of payroll tax rises on hiring and employment

Retailer expands use of devices to monitor 90mn pallet deliveries a year from warehouses to its 4,600 US outlets

Also in today’s newsletter, China’s curbs on Nokia and Ericsson, and Moscow’s advance against Ukraine’s Patriot missiles

Ken Murphy calls for ‘pro-growth and pro-jobs’ Budget as retailer raises annual profit forecast off the back of price cuts

Lessons from economic history point to the benign effects of ‘overcapacity’

Policy change expected in Budget after sector said higher charges would push up food inflation for consumers

Javier Milei has wasted foreign exchange reserves trying to hold up the peso

Automotive exports to US plunge after levies imposed, piling pressure on Cyril Ramaphosa’s coalition

Beijing’s national security drive hits European groups even as Huawei maintains its business on the continent

Tory leader reaches out to voters hit by high energy bills but faces backlash from business and within the party

Peso, stocks and bonds all fall as investors fret over lack of details from Washington on rescue plan

Embracing protectionism to prevent Chinese dumping and appease Trump will fail — just like import substitution did

New measures would protect industry, but some countries fear that curbing low-cost imports could drive up prices

Figure marks first move above ECB’s target since April

Low unemployment and buoyant wages underpin gains, says lender Nationwide

Plus, who is paying the tariffs?

White House also drops bid to name Brian Quintenz as chair of the Commodity Futures Trading Commission

Also in today’s newsletter, fresh financial jitters in Argentina and one of the largest infrastructure deals of all time