In at this time’s e-newsletter:

• Iran warns of potential change in its nuclear doctrine

• Lai’s Taiwan Nationwide Day speech

• South Korea’s Han Kang wins the Nobel literature prize

Good morning. A senior adviser to Iran’s supreme chief has warned Tehran may change its nuclear doctrine if Israel targets the Islamic republic’s atomic services.

As Iran and the broader Center East brace for the Israeli response to final week’s Iranian missile assault on Israel, Brigadier Common Rasoul Sanaei-Rad advised Iranian information company Fars: “Putting nuclear websites may actually have an effect on the calculations throughout and after the struggle.”

Iran fired a barrage of missiles at Israel in retaliation for the assassination of Hizbollah chief Hassan Nasrallah and different militant leaders. Afterward, outstanding right-wing Israelis known as on Prime Minister Benjamin Netanyahu’s authorities to focus on Iran’s nuclear programme.

However western diplomats have warned that will be probably the most excessive retaliation. The US has urged Netanyahu in opposition to focusing on Iran’s nuclear websites or its oil infrastructure.

Right here’s what to find out about Iran’s nuclear programme — lengthy considered by Israel as its most severe strategic menace.

• Center East information: Israeli forces fired a tank shell on the UN peacekeepers’ headquarters in southern Lebanon yesterday, the UN stated, injuring two worldwide troops.

And right here’s what else I’m holding tabs on at this time and over the weekend:

• Financial knowledge: Malaysia experiences August manufacturing gross sales and the commercial manufacturing index. The US publishes September PPI inflation price knowledge for September.

• Financial coverage: South Korea declares its rate of interest determination.

• Chinese language economic system: A press briefing on Saturday with China’s finance minister has fuelled investor expectations that the federal government will announce extra stimulus measures.

How effectively did you retain up with the information this week? Take our quiz.

5 extra high tales

1. Taiwan’s President Lai Ching-te has urged Beijing to co-operate with Taipei and the worldwide group to keep up peace in his first Nationwide Day speech yesterday. Lai asserted that China had “no proper to symbolize Taiwan” however stated he was prepared to work with Beijing to guard peace and prosperity for individuals on each side of the Taiwan Strait.

2. South Korean author Han Kang has received the 2024 Nobel Prize for literature. Han — the first Asian lady and South Korean author to win the award — was recognised for her “intense, poetic prose that confronts historic traumas and exposes the fragility of human life”, the Nobel committee stated.

3. Seven & i Holdings plans to separate its comfort retailer operations from non-core companies because the Japanese retail conglomerate faces an unsolicited $47bn buyout proposal from Alimentation Couche-Tard. The 7-Eleven proprietor stated it might separate 31 subsidiary companies — together with supermarkets resembling Ito-Yokado — and put them in a brand new holding firm. Right here’s extra on the reorganisation.

4. US inflation fell to 2.4 per cent in September however nonetheless exceeded economists’ expectations, cementing the perception that the Federal Reserve will lower rates of interest by 1 / 4 level at its subsequent assembly in November.

• Hurricane Milton: Rescue operations have been below means in Florida yesterday as officers sought to assess the injury inflicted by the storm, which triggered widespread flooding and left hundreds of thousands with out energy.

5. Unique HSBC’s new chief govt plans to focus on the lender’s costly layer of senior bankers in a cost-cutting transfer geared toward saving as a lot as $300mn. Georges Elhedery is drawing up plans to merge HSBC’s industrial banking unit with its world banking and markets unit. Right here’s what else we all know.

The Large Learn

Russia has created a “shadow fleet” of greater than 400 vessels shifting about 4mn barrels of oil a day, circumventing western sanctions to create billions of {dollars} a 12 months in extra income for its struggle in Ukraine. The FT’s newest investigation reveals how complicated preparations involving a British accountant, a London-listed dealer and Dubai-based firms helped considered one of Russia’s greatest oil producers purchase ships whereas hiding its involvement.

We’re additionally studying . . . 

• Activist battle: A seemingly misfired e-mail has embroiled Pfizer chief govt Albert Bourla and his firm in a high-stakes activist marketing campaign.

• Trump biopic: The Apprentice has been hit with authorized threats that scared off Hollywood studios. Screenwriter Gabriel Sherman reveals the wild inside story of his new movie.

• 80-hour weeks: Wall Avenue’s strikes to cap weekly hours for entry-level bankers are butting in opposition to the truth of a aggressive trade.

Chart of the day

A scramble for Chinese language equities united the worldwide funding trade final month, simply as attitudes in the direction of European and Japanese inventory markets turned closely bifurcated alongside geographical traces. Regardless of sturdy home enthusiasm, international trade traded fund traders turned their backs on European and Japanese inventory markets in September.

Take a break from the information

Earlier than he was Japan’s prime minister, Shigeru Ishiba was a Dragon Ball cosplayer. In 2018, he donned a purple cape and a hooded pink bodysuit at an occasion in his native Tottori, dressed as Majin Buu from the favored Japanese anime sequence. Ishiba is a severe politician, and his wardrobe determination is just bizarre should you (incorrectly) imagine his anime fandom is area of interest, writes Leo Lewis.

Further contributions from Gordon Smith and Tee Zhuo