The award recognizes two Americans for devising frameworks governments and central banks can use to keep economies steady when external shocks occur.

Nobel Prize in economicseconomic modelseconomic stability

On Monday, the Royal Swedish Academy of Sciences named US scholars Robert Hall and Michael Woodford as the 2026 economics laureates. Their award recognizes research into the microeconomic underpinnings of macroeconomic stabilization.

Nobel economics prizeRobert HallMichael Woodford

The Nobel Prize in Economics has been awarded to Robert E. Hall and Michael Woodford.

Nobel Prize in EconomicsRobert E. HallMichael Woodford

American economists Robert E. Hall and Michael Woodford have won the Nobel Prize in Economics.

Nobel Prize in EconomicsRobert E. HallMichael Woodford

The Royal Swedish Academy of Sciences awarded the 2026 Nobel Prize in Economic Sciences to Robert E. Hall and Michael Woodford for their work on the microeconomic foundations of macroeconomic stabilization. Their research helped develop models that enable governments and central banks to respond more effectively to booms and recessions.

Nobel Prize in Economicsmacroeconomic stabilizationeconomics

US negotiators Steve Witkoff and Jared Kushner have not dropped plans to travel to Moscow, but will go only after gaining a clear understanding of Kyiv’s position, a source told TASS. The source said understanding Ukraine’s position was difficult and that all timing options remained open.

US negotiationsUkraineMoscow visit

US envoy Steve Witkoff and Jared Kushner have put their planned Moscow trip on hold while they seek clarity on whether Ukraine and European countries will accept a new unified proposal for Russia, Axios reported, citing sources.

Ukraine conflictUS-Russia relationspeace talks

Bloomberg News Now is an audio roundup of the day’s top stories, spanning global business and updated throughout the day.

Bloomberg NewsSaudi airportenergy ceasefire

Pyongyang fired multiple ballistic missiles on October 12, 2026. A screen in Seoul showed file footage of a North Korean missile launch.

North Koreaballistic missilesSea of Japan

South Korea’s military says North Korea launched several ballistic missiles into the Sea of Japan. South Korea’s National Security Office then held an emergency security meeting to review the country’s military readiness.

North Koreaballistic missilesSea of JapanSouth Korea

South Korea’s military says North Korea launched multiple ballistic missiles into waters off its east coast, with one travelling more than 900km from the Pyongyang area. Seoul said the launch appears to have been a show of force after South Korea’s hypersonic missile test; Japan’s coastguard reported two suspected ballistic missiles that appeared to have fallen.

North Koreaballistic missilesSouth Koreamissile tests

South Korea’s military said North Korea fired several ballistic missiles toward the Sea of Japan on Monday from near Pyongyang, flying about 900 km. The South Korean military said it is prepared for any further launches and is sharing information with the United States and Japan.

North Koreaballistic missilesSouth KoreaSea of Japan

North Korea fired multiple ballistic missiles toward the sea on Monday morning, South Korea's military said. One traveled more than 900 kilometers before falling into the water. Seoul called the launch a “show of force” in response to its successful hypersonic missile test.

North KoreaSouth Koreaballistic missileshypersonic missile

South Korea’s military says North Korea fired multiple ballistic missiles toward its eastern waters, the latest in a recent run of weapons demonstrations.

North Koreaballistic missilesSouth Korea

After winning the Socialist party’s centre-left primary and becoming its social-democratic presidential candidate, French MEP Raphaël Glucksmann called on the centre left to unite against Marine Le Pen’s far right in the 2027 election. He said the campaign would be exceptionally brutal and argued that the left must believe it can win.

French politicspresidential electionRaphaël Glucksmanncentre-left

Raphaël Glucksmann won over 66% in the social-democratic left’s primary ahead of France’s 2027 presidential election. Soon afterward on Sunday evening, flour was thrown at the French politician and European Parliament member outside a Paris bar.

French politicspresidential primaryRaphaël Glucksmann

Indian opposition parties marched to the Supreme Court in Delhi, demanding that Chief Election Commissioner Gyanesh Kumar resign over alleged voter fraud. The Election Commission and the governing BJP reject claims that voter rolls were manipulated to benefit the party. The march follows the detention of thousands of protesters in Delhi over the weekend.

Indian politicsDelhielection disputeprotests

Beijing said the ministers had taken a series of “egregious actions and statements” that damaged China’s core interests.

ChinaParaguayBelizeTaiwan tiessanctions

China imposed sanctions on Paraguay’s communications minister Gustavo Villate and Belize’s foreign minister Francis Fonseca, citing sovereignty and opposition to Taiwan separatist activities. The measures freeze their assets in China, bar them from Hong Kong and Macau, and prohibit Chinese organisations and individuals from dealing with them.

China sanctionsTaiwan tiesParaguayBelize

China’s Foreign Ministry announced countermeasures against ministers from Paraguay and Belize over Taiwan-related issues. Gustavo Emigdio Villate Samaniego and Francis Fonseca are barred from obtaining visas or entering China, including Hong Kong and Macao, and people and organizations in China are prohibited from conducting transactions, cooperation or other activities with them.

China sanctionsTaiwan tiesParaguayBelize

China imposed sanctions from Monday on Paraguay’s communications minister and Belize’s foreign minister, citing their countries’ ties with Taiwan.

ChinaParaguayBelizeTaiwan ties

Speaking at the Warsaw Security Forum, Zelenskyy said Russia ignored Trump’s ceasefire and continued attacking Ukraine. It was one of his first responses to renewed turmoil with Washington after Trump’s surprise energy ceasefire announcement and a diesel deal with Russia drew widespread condemnation from European leaders.

RussiaUkraineceasefireZelenskyy

US President Donald Trump sowed confusion on Sunday by announcing an “energy ceasefire” between Ukraine and Russia. Kyiv expressed astonishment, while Moscow stayed silent. Ukrainian strikes have battered Russia’s oil industry. Such a ceasefire could let Moscow repair refineries and help Ukraine protect vital energy infrastructure.

Donald TrumpVolodymyr ZelenskyyUkraineRussiaenergy ceasefire

Zelenskyy said Ukraine is prepared to agree to an energy ceasefire, while warning that Russia must also agree.

UkraineRussiaZelenskyyenergy ceasefire

Donald Trump expects Volodymyr Zelensky to honor the energy ceasefire and halt Ukrainian strikes on Russian oil refineries, Axios reports. A White House source said Trump feels Zelensky is taking the U.S. for granted. Russia has not formally accepted the ceasefire, and the proposed refinery arrangement is described as unequal: Ukraine’s only refinery is operating below capacity after Russian attacks. A halt to refinery strikes could lead to a deal covering power plants and the energy grid.

Russia-Ukraine warenergy ceasefireoil refineriesDonald Trump

The Financial Times, citing sources, reported that the United States threatened to stop sharing intelligence with Ukraine and suspend the PURL mechanism for European purchases of U.S. weapons for Kyiv unless Ukraine halted strikes on Russian oil refineries. Sources said the demands were conveyed in calls on October 10 and 11. Trump later announced an energy ceasefire between Russia and Ukraine. Zelensky first said the announcement was news to him, then said the Ukrainian military had received relevant orders, without specifying what they meant. The Kremlin did not officially comment.

United StatesUkraineRussiaenergy ceasefire

Volodymyr Zelensky said Ukraine’s armed forces had received all relevant orders concerning the energy truce announced by Donald Trump, though their specifics remain unclear. Ukraine is willing not to strike Russian energy facilities, he said, while expecting similar readiness from Russia. Zelensky also said Russian attacks on Ukrainian energy facilities continued, including a strike on Kharkiv’s CHPP-5. Russia has not officially commented on the truce.

UkraineRussiaenergy truceVolodymyr Zelensky

Hotline Beijing 2, a documentary about Beijing’s public service hotline reforms, was screened in the city on Sunday during the 2026 Beijing Forum on Swift Response to Public Complaints. Made over nearly a year, the film uses real-life stories to explore urban governance. Since reforms began in 2019, Beijing’s 12345 hotline has handled about 200 million requests, with resolution and satisfaction rates above 97%.

documentaryBeijing12345 hotlineurban governance

Authorities say a fire has completely destroyed the Marché Couvert des Enfants Rouges in Paris’s Marais district. The market dates to 1615; its name refers to the red clothes worn by orphans at a nearby hospital until 1772.

Parismarket firehistoric market

Authorities said a fire completely destroyed the historic Marché Couvert des Enfants Rouges in Paris overnight Monday. The cause of the blaze at the capital’s oldest covered food market remains unknown.

ParisfireMarché Couvert des Enfants Rouges

Saudi Arabia’s civil aviation authority extended the suspension of operations at Riyadh’s international airport on Monday, after a series of deadly attacks by Yemen’s Iran-aligned Houthi rebels over the weekend. It did not say when the airport would reopen.

Saudi ArabiaRiyadh airportHouthisairport shutdown

The skies over Saudi Arabia’s capital were largely quiet on Monday after Yemen’s Iran-aligned Houthis carried out deadly attacks on the city’s airport. Aviation analytics firm Cirium expected around 60% of scheduled flights to be cancelled.

RiyadhHouthisairport attackflight cancellations

Footage released by Saudi authorities shows a missile hitting King Khalid International Airport in Riyadh on October 10. The attack killed at least 13 people and injured hundreds, forcing the airport to suspend operations.

RiyadhKing Khalid International Airportmissile strikeSaudi Arabia

Turkey, Pakistan, Egypt and Saudi Arabia denounced attacks by Yemen’s Iran-backed Houthi militants on Riyadh’s international airport, calling them a dangerous escalation that could not be justified or accepted under any pretext.

Riyadh airportHouthisattacksMiddle East

Saudi Arabia’s civil aviation authority says a projectile struck King Khalid International Airport on Sunday, killing a Pakistani resident and injuring 11. The airport was also hit by a Houthi missile the previous day, killing 12, and has been closed since Saturday’s attack.

Saudi ArabiaRiyadh airportHouthisattack

An unidentified projectile hit Saudi Arabia’s main international airport on Sunday, injuring people. The strike came a day after a deadly missile attack at the same site, prompting questions about whether the United States would enter another conflict in the region.

Saudi Arabiaairport attackMiddle East conflict

The Wall Street Journal says relations between Trump and Zelensky have fallen to their lowest point since their 2025 Oval Office clash after Trump said Ukraine may need a new leader to make a deal. Trump also criticized Ukrainian strikes on Russian refineries. Zelensky said Ukraine would stop those strikes if Russia halted attacks on its energy infrastructure, while Kyiv fears a renewed suspension of U.S. intelligence sharing.

Donald TrumpVolodymyr ZelenskyUkraineU.S.-Ukraine relations

The UK prime minister said Germany’s Friedrich Merz had told him that the far-right AfD was linked to Russia. Burnham is also facing questions at home about Labour’s ties to the UAE.

UK politicsRussiaBrexit vote

UK Prime Minister Andy Burnham said Russia’s interference in the 2016 Brexit referendum was “clear” and warned French and German voters of a similar threat. He offered no evidence or details, and said he had discussed possible Russia links to Germany’s Alternative for Germany party with Chancellor Friedrich Merz.

UK politicsRussiaBrexit referendum

UK Prime Minister Andy Burnham says Russia’s interference in the Brexit referendum is “clear” and that countries across Europe face the same threat.

RussiaBrexit referenduminterference allegations