News

Jefferies: Initiates coverage research on US Rare Earths (USAR.O) with a buy rating and a target price of $21.

Jefferies: Lowered its price target for Oracle (ORCL.N) from $320 to $290.

The NI225 index fell 3.00% intraday, currently trading at 64225.19 points.

According to the Financial Times, ECB Governing Council member Machrouf stated that the ECB must be prepared to raise interest rates further.

Traders: Amid soaring oil prices, the Reserve Bank of India sold dollars before the market opened to support the Indian rupee.

According to Al Arabiya TV: Iranian media reported that yesterday's US airstrikes resulted in the deaths of 11 people in Iran.

**Dismissed Officials** 1. Former Army Chief of Staff, General Randy George: George retired in April, just weeks after the start of the war with Iran. Multiple reports indicate that Defense Secretary Hergsays called for George's resignation, with more than a year remaining in his term. 2. Former Army General Christopher Donahoe: Donahoe announced his departure in July after 18 months as Commander of the U.S. Army in Europe and Africa. According to The Washington Post, Hergsays' opposition to extending Donahoe's career led to the general's departure. 3. Former Deputy Army Chief of Staff, General James Mingus: Mingus served as Deputy Army Chief of Staff for less than two years, while the typical term is three years. Before Mingus publicly announced his departure, Trump nominated Lieutenant General Christopher Laneff, who had previously served as a senior military aide to Hergsays, to succeed him in the position. It is reported that Mingus was forced into early retirement. 4. Former Chairman of the Joint Chiefs of Staff Charles Quinton Brown Jr.: Brown was the highest-ranking officer in the U.S. military. Trump dismissed him last February, when his four-year term had only lasted about 16 months. Hegses had previously recommended Brown's dismissal due to his DEI (Diversity, Equity, and Inclusion) policies. 5. Former Chief of Naval Operations Lisa Franketti: Franketti was the first woman to serve as Chief of Naval Operations and a member of the Joint Chiefs of Staff. Hegses dismissed her in a leadership purge in February 2025. According to CNN, Hegses described Franketti as a "DEI hire." 6. Former Air Force Vice Chief of Staff General James Slevin: Hegsays removed Slevin from his post during a leadership purge in February 2025. This move occurred amidst widespread military changes at the time. Former President Biden nominated Brown, Franketti, and Slevin for the position. 7. Former Air Force Chief of Staff General David Alvin: Alvin, who served as Air Force Chief of Staff, announced his retirement in August 2025, halfway through his four-year term. The Washington Post reported at the time that the Pentagon had requested Alvin's retirement. 8. Former Southern Command Commander Alvin Halsey: Halsey announced his retirement in October 2025, just one year into his three-year term. His departure comes as Southern Command oversees Trump's military operations against suspected drug-carrying vessels off the Venezuelan coast. 9. Former NSA Director and Cyber Command Commander, General Timothy Horn: Horn was dismissed in April 2025 without an official explanation. Multiple reports indicate this occurred shortly after far-right activist Laura Lumer pressured Trump to remove him. 10. Former Defense Intelligence Agency Director, Lieutenant General Jeffrey Cruise: Cruise was dismissed in August 2025 after the Defense Intelligence Agency reportedly issued an assessment of the earlier summer's strikes against Iran that angered Trump. The Pentagon has never officially announced the reason for Cruise's departure. New Appointments: 1. In April of this year, Trump nominated Matt O'Malley as Deputy Under Secretary of Defense for Acquisition and Sustainment. 2. In April of this year, Trump nominated Erich Buckrow to be the Air Force Assistant Secretary for Space Acquisition and Integration. 3. In August of this year, Dr. Roger Mason Jr., Trump's nominee, was confirmed by the Senate to become the Director of the National Reconnaissance Office. 4. On September 2, Trump announced his nomination of Kao Hsiung (of Vietnamese descent) to be the next U.S. Secretary of the Navy and urged the Senate to confirm the nomination as soon as possible.

According to Interfax news agency, the Russian Finance Minister stated, "I believe that despite the current complexities, there are still reasons to develop financial relations with the United States. Dialogue with the United States should continue."

Reserve Bank of New Zealand Governor Brehman: Export sector performance far exceeded expectations.

Market sources indicate that Honda plans to cut costs by 1.5 trillion yen (approximately US$9.4 billion) by 2030, according to documents.

Reserve Bank of New Zealand Governor Brehman: The Official Cash Rate (OCR) may be raised further, and the impact of previous rate hikes will be assessed.

Reserve Bank of New Zealand Governor Brehman: It may take some time to assess the policy stance.

Reserve Bank of New Zealand Governor Brehman: The election will not affect our policy decisions.

Reserve Bank of New Zealand Governor Brehman: There is no fixed policy path set at present, and the timing of interest rate hikes is highly uncertain.

Reserve Bank of New Zealand Governor Brehman: We are raising the official cash rate (OCR) to a neutral level, but monetary policy remains accommodative.

Reserve Bank of New Zealand Governor Brehman: We can support the economy while reducing inflation.

Reserve Bank of New Zealand Governor Brehman: The current trend of the official cash rate is very similar to that in May.

Reserve Bank of New Zealand Governor Brehman: The key question is whether the economic recovery can expand further as expected.

Reserve Bank of New Zealand Governor Brehman: New Zealand house prices are expected to gradually rise from mid-2027.

Reserve Bank of New Zealand Governor Brehman: The economic recovery remains uneven. The unemployment rate is expected to decline as the economy expands.