In the Unlock the Editor’s Digest, Roula Khalaf highlights Sir Keir Starmer and chancellor Rachel Reeves’ pushback against a cabinet revolt over proposed public spending cuts. Reeves plans to raise taxes or cut spending by £40bn to address a £22bn fiscal gap, causing unrest among ministers. The looming Budget on October 30 will outline spending curbs for various departments, prompting concerns about government ambitions and economic growth.
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Snowflake Stock Is on Fire. But Can the Momentum Last?
Snowflake (NYSE: SNOW), an AI and data platform specialist, has witnessed its stock rise nearly 40% year to date, significantly outperforming the S&P 500's 7% increase, driven by its focus on AI and rapid revenue growth. However, concerns arise as the company continues to report substantial quarterly losses despite a market capitalization of approximately $72 billion. Want More Context? 🔎
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