Daily Buzz: 6 October 2025

Japan's 'Thatcher' Poised to Become First Female Prime Minister

Sanae Takaichi, former Japanese economic security minister and longtime admirer of former UK prime minister Margaret Thatcher, is set to become Japan's first woman prime minister after winning the leadership of the ruling Liberal Democratic Party in a vote on Saturday. She would replace Shigeru Ishiba, who resigned last month after election defeats ended his coalition government's control of both houses in parliament. The Liberal Democrats' postwar domination of politics has been weakened by the rise of right-wing parties.

Takaichi, 64, is from the conservative wing of the party. She advocates the economic policies of former prime minister Shinzo Abe, which call for high fiscal spending and cheap borrowing rates. In foreign policy, she supports revision of the constitutional ban on Japan entering armed conflict and advocates less economic dependence on China.

Gaza Peace Plan Teeters Forward

Hopes for peace in the Middle East, so often dashed, cautiously rose again after US President Donald Trump said Israel has agreed to an initial line of withdrawal in Gaza and Israeli Prime Minister Benjamin Netanyahu said he hopes to announce the release of remaining hostages held in Gaza "in coming days." However, Netanyahu also vowed that Hamas will be disarmed – a provision in US President Donald Trump's 20-point peace plan that the group hasn't yet accepted. After Hamas agreed to some points in his plan, Trump told Netanyahu to stop bombing Gaza, but Hamas accused Israel on Sunday of continued attacks on Palestinian civilians, killing 70.

Czech Magnate's Populist Party Wins Parliamentary Election

The populist ANO party of former Czech prime minister and billionaire businessman Andrej Babis won Saturday's parliamentary election. Babis, who was prime minister from 2017-21 and is an admirer of US President Donald Trump, is pro-EU but anti-immigration. There are fears he will water down the Czech Republic's support for Ukraine. His party failed to get a majority of seats and will have to form a coalition with fringe parties to replace the current center-right government led by Prime Minister Petr Fiala.

Lithuania Airport Temporarily Halts Flights on Balloon Sighting

Lithuania temporarily suspended air traffic at Vilnius Airport when hot air balloons were spotted close to its airspace. It wasn't immediately clear if the balloons were domestic or suspect. NATO members are on high alert following several instances of recent drone incursions that EU members blame on Russia. The Kremlin had denied any involvement.

Poland said it scrambled aircraft early on Sunday after Russia launched a barrage of drones and missiles on western Ukraine near their common border. A day earlier, Ukraine accused Russia of intentionally targeting a passenger train.

Top Business

Huawei Unveils New Smartwatches and Headphones

Huawei Technologies expanded its consumer electronics product range with the introduction of new smartwatches and headphones. Its GT 6 watch series features a 46-millimeter model with up to 21 days of battery life, upgraded health monitoring and enhanced location-positioning. In the audio realm, Huawei's FreeClip 2 ear-clip wireless headphone supports voice-assistant functions through the company's proprietary AI HarmonyOS system, offering real-time translation.

Foxconn Reports Record Q3 Revenue

Taipei-based Foxconn, the world's largest contract electronics maker, reported third-quarter revenue rose 11 percent to a record NT$2.06 trillion (US$67.7 billion) on a surge in demand for AI products. September revenue increased 14.2 percent. The company, whose formal name is Hon Hai Precision, makes servers for Nvidia chips and assembles Apple iPhones. In a statement, it said sales of cloud and network products were strong but revenue from consumer electronics was "flattish." It forecast shipments of servers will ramp up in the fourth quarter. The company said it will release full quarterly earnings in November.

Economy & Markets

Bitcoin Hits Record High

Bitcoin, the world's largest cryptocurrency by market value, hit a record high of US$125,245 on Sunday, Reuters reported, citing strong demand from institutional investors. The digital currency has been steadily rising on US stock market gains and inflows of money into bitcoin exchange-traded funds.

Chery's Hybrid SUV the Best-Selling Import in Israel

Chinese carmaker Chery's Jaecoo 7 hybrid SUV is the top-selling vehicle in Israel this year, according to an Israeli association of vehicle importers. It said 11,116 of the plug-in model were sold in the first nine months of the year, while a gasoline version sold almost 2,000 units. Chinese brands outsold all other imports in the nine months, followed by South Korean and Japanese models.

Blackstone Asia Buyout Fund Finds Wealth of Backers

Blackstone passed US$10 billion in investment in its latest Asia buyout fund, Bloomberg News reported. It has attracted many investors betting on opportunities in Japan and India. The US-based firm is scheduled to wrap up the fundraising in the first quarter of 2026, possibly with an end total of US$13 billion.

Corporate

Shein Runs Afoul of European Regulators Again

Shein, an online fast-fashion e-commerce platform founded in China but now based in Singapore, was fined 500,000 kronor (US$53,400) by a Swedish court that ruled the company's Irish-based arm infringed the copyright of smaller Swedish e-tailer Nelly by using the company's photographs without permission. Shein has run afoul of regulators in the EU, France and Italy this year and been fined for breaches that included false advertising, misleading customers and misuse of cookies. Shein filed preliminary papers several months ago for an initial public offering in Hong Kong after British regulators stalled approval of an IPO in London.

Goodyear Sees Future for Smart Tires

Goodyear Tire & Rubber said smart tires integrated with sensors will probably take years to catch on, the South China Morning Post reported, citing Nathaniel Madarang, president of the US company's Asia-Pacific business. He said the interest is there but international standards are lacking. Smart vehicle tires will be able to collect real-time data on load, pressure, rate of wear, road contact and grip, leading to safer, more efficient driving and extended tire longevity.