The US trade deficit widened 13.7 percent in August to 105.6 billion dollars, the largest monthly gap in 17 months, the Commerce Department reported. Imports rose 4.3 percent to a record 420.8 billion dollars while exports grew 1.4 percent to 315.2 billion dollars. The goods deficit reached 136.6 billion dollars and the services surplus held near 31 billion dollars. A new round of tariffs in July and heavy imports of components for AI data centres both pushed the numbers up. Year to date the deficit is down almost 20 percent. West Coast ports are working through a strong peak season that has stretched dockworker rosters.
FedEx has placed a binding order for 2,000 all-electric medium-duty trucks from California manufacturer Harbinger, in a deal worth more than $300 million. Harbinger announced the order on September 30, saying the Class 5 and 6 vehicles will be delivered by the end of 2027 and deployed across FedEx pickup and delivery operations in the United States and Canada. The trucks will replace diesel vehicles one for one. FedEx bought 53 Harbinger trucks less than a year ago and co-led a $160 million funding round. Harbinger estimates the new fleet could avoid 1.7 million tonnes of carbon emissions over a 20-year service life.
US employers added just 29,000 jobs in September and the unemployment rate held at 4.2 percent, a fresh sign that the labor market is cooling as 2026 enters its final quarter. Healthcare, construction and manufacturing added workers, while government, temporary help and financial activities shed jobs. Wage growth slowed to 3.0 percent a year, the weakest in more than five years and below forecasts. The report lands about a month before the November 3 midterm elections.
Paramount Skydance completed its $110 billion takeover of Warner Bros. Discovery, creating a company now called Skydance under chief executive David Ellison. The deal brings CBS News and CNN, HBO Max and Paramount+, and the Warner Bros. and Paramount Pictures studios under one roof. Supreme Court Justice Elena Kagan denied a last-minute attempt to halt the closing, and a California judge approved a settlement with California and 11 other states. The combined company must release at least 30 films in theatres each year and set up an editorial board overseeing CNN and CBS News. Warner Bros. Discovery chief David Zaslav exits with about $886.8 million.
US stocks rose on Friday after a weak September jobs report led investors to expect the Federal Reserve to hold rates steady this month. Employers added 29,000 jobs in September, far below the 90,000 economists expected, and the unemployment rate rose to 4.2%. The S&P 500 gained 0.7% to 7,722.72, the Nasdaq Composite rose 1.2% to a new high and the Dow added 0.5%. Yields retreated from a 24-year peak. Investors still worry about oil near $100 a barrel and a five-week bond selloff.
The US economy added only 29,000 jobs in September, well below the 84,000 that economists expected, the Bureau of Labor Statistics reported. The unemployment rate rose to 4.2% from 4.1%. Average hourly earnings climbed just 0.1% from the month before and 3.0% from a year earlier, down from 3.8% a year ago. The report was the last monthly jobs reading before the midterm elections. Hiring was much weaker than the 162,000 jobs added in August, and the three-month average of payroll gains fell to 51,000.
Amazon says it will expand its Prime Air drone delivery service to nearly 500 cities and towns across the United States. New metro areas include Chicago, Atlanta and Cleveland. The company plans to offer fast delivery of small, light items, with customers ordering through the existing app. Regulators still need to approve wider flight paths, and some communities have raised questions about noise and privacy. Amazon says the build-out will create local jobs in operations and maintenance.
The US economy added just 29,000 jobs in September, a sharp slowdown, and the unemployment rate rose to 4.2 percent. An outright ban on certain Canadian products took effect the same week, escalating a trade fight between the two North American neighbours and forcing importers to reroute cargo. A bond sell-off pushed mortgage rates to their highest level since 2023, and the Federal Reserve raised its benchmark rate for the first time in more than three years. Total US public debt passed $40 trillion for the first time, and big technology firms kept borrowing heavily to finance AI data centres.
South Korea's exports jumped 83.5 percent in September from a year earlier to a record $120.9 billion, the first month the country has shipped more than $120 billion of goods. On a working-day basis, average daily exports more than doubled, rising 104.9 percent. Semiconductor shipments set their own record as spending on AI infrastructure keeps climbing, and chips now make up close to half of export earnings. Industry Minister Kim Jung-kwan said annual exports could approach $1 trillion, while warning that protectionism and Middle East tensions remain risks. Factory surveys also pointed to a fourth month of expansion.
Hapag-Lloyd has raised its 2026 earnings outlook for the second time, pointing to strong demand and higher spot freight rates, and has submitted an improved offer for Israel's ZIM Integrated Shipping Services as it seeks approval for a US$4.2 billion takeover. The upgrade lands as container shipping enters its busiest stretch, with Chinese Golden Week from 1 to 7 October tightening capacity. The Panama Canal will lift daily Neopanamax transits to ten vessels from 15 October. Not all signals are positive: gate congestion at DP World's Melbourne terminal is adding costs for hauliers, forwarders and shippers.