Eurozone interest rates could be cut today; Super-App Push – Business Live | At Uber 'explored offer for the Expedia business'

Shares in the nearly $20 billion US travel booking website Expedia rallied today following reports that ride-hailing and delivery giant Uber was exploring a possible bid.

Uberreported the Financial Times, has contacted advisers in recent months to explore whether such a deal is possible and how it could be structured.

will be Uber's Provide access to even larger acquisitions and new growth opportunities. However, the situation is still at an early stage, as no formal approach has yet been made to Expedia and the two parties are not in talks.

A deal could help Uber transform into a “super app”, and Chinese tech groups like WeChat are already doing well, offering users a range of services through a single app.

Curiously, Uber's executive director Tara Khosrowshahi Formerly CEO Expedia.

Expedia Shares rose 7.2% in after-hours trading on Wall Street. Uber's Shares fell 2.9%.

Good morning and welcome to our coverage of business, financial markets and the global economy.

Today, the focus is on a welcome slowdown in global inflation, paving the way for central banks to cut interest rates. European Central Bank.

He ECB He is expected to make his third rate cut of the year today. Bank of England. Authorities are under pressure to make cuts after eurozone inflation is estimated to fall below of the ECB 2% target for September (we also get the final reading today).

Economists predict that ECB It will cut its deposit rate by another quarter point to 3.25% today when its governing body meets today in Ljubljana, Slovenia. President christina lagarde The door is expected to remain open for another cut in December.

The low interest rates will be welcomed by businesses and consumers across the eurozone, as European countries such as Germany have struggled this year.

Last week, the governor of the Central Bank of Greece Yannis Stornerus It increased pressure on the governing body, announcing that “highly restrictive” interest rates could be reduced faster than previously expected.

Neil Hutchison European liquidity strategies portfolio manager JP Morgan Asset Management, He says it would be surprising if the ECB didn't make cuts today:

“With Halloween on the horizon, we don't expect any scary surprises from the ECB this week. Buoyed by weak PMI business survey data, the ECB is likely to implement a 0.25% rate cut.

A recent cooling in inflation data suggests they are less burdened by potential price pressures. With minimal reaction from ECB members, markets will be surprised if a cut does not occur.

Beyond this meeting, the outlook is currently shrouded in a Halloween fog, with concerns between a potential growth slowdown and geopolitical tensions, resilient wage growth and low unemployment.”

agenda

• 10am BST: Eurozone inflation estimate for September (final reading)

• 13:15 BST: European Central Bank sets interest rates

• 13.30 pm BST: US retail sales for September

• 1:30 p.m.: Weekly US unemployment claims

• 1:45 p.m. BST: European Central Bank press conference

• Tonight: Annual Town Party at Mansion House