Latest News
- China increases gold purchases to reduce reliance on US dollar assets
- AI data centres emerge as key topic in Ontario municipal elections
- Israel suspends commercial goods from entering Gaza amid escalating tensions.
- Alberta NDP unveils three-part plan for custody releases in Edmonton’s Chinatown
- Elon Musk donates $158 million to Senate GOP group backing Ken Paxton
- Researchers predict the world may face overpopulation crisis in 2026
- Minibus collision with shuttle train injures 19 at Eurotunnel site
- Zimbabwe’s ZiG seeks to gain trust and reduce reliance on the US dollar
Financial Times - Savers withdrew nearly $60bn from three US banks as Apple raises heat
Summary of the front page
The Financial Times says savers withdrew nearly $60bn from US banks Charles Schwab, State Street and M&T in the first quarter as customers moved their money in search of higher interest rates. Traditional banks could face further threat because of Apple and Goldman Sachs’ new savings account in the US that will pay 4.15% interest a year, it reports.
The paper’s main image is of Vladimir Kara-Murza, a Russian opposition activist, during a court hearing in Moscow where he was sentenced to 25 years in prison for treason.
Today's top stories
China increases gold purchases to reduce reliance on US dollar assets
October 16, 2026
12:00 pm
China’s central bank increased its gold reserves by 23 tonnes in September, the largest monthly acquisition since October 2023, bringing total holdings to approximately 2,410 tonnes. This move aims to reduce reliance on US dollar assets amid rising geopolitical and financial risks, with private demand for gold also soaring as households seek secure savings options.
AI data centres emerge as key topic in Ontario municipal elections
October 16, 2026
11:00 am
Stop the Datacentre, a grassroots advocacy group, is seeking additional signatories ahead of the upcoming municipal elections. The group aims to bolster its influence and raise awareness regarding its concerns before voters head to the polls later this month.
Israel suspends commercial goods from entering Gaza amid escalating tensions.
October 16, 2026
9:00 am
GAZA GOODS BLOCKED
Israel halts commercial goods entering Gaza this morning
Hamas denies claims of tax enforcement against merchants
Alberta NDP unveils three-part plan for custody releases in Edmonton’s Chinatown
October 16, 2026
7:00 am
The provincial government is implementing measures to improve connections between individuals exiting custody and available housing and support services. These initiatives aim to facilitate transitions and ensure better resources for those reintegrating into the community.
Elon Musk donates $158 million to Senate GOP group backing Ken Paxton
October 16, 2026
5:00 am
Elon Musk donated $158 million last month to the Senate Leadership Fund PAC, which subsequently funneled the funds to support Republican Texas Senate candidate Ken Paxton. The donations represent Musk’s significant return to political funding ahead of a tightly contested race against Democrat James Talarico.
Researchers predict the world may face overpopulation crisis in 2026
October 16, 2026
4:00 am
A research paper suggests that the world population could approach infinity by November 13, 2026, due to unsustainable growth patterns.
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