Thursday newspaper round-up: US sanctions on Russian oil, Tesla, housing plans

(Sharecast News) - The US has sanctioned Rosneft and Lukoil, Russia's two largest oil companies, as the Trump administration increased pressure on the Kremlin to negotiate an end to its war against Ukraine. The sanctions were the first against Russia since Donald Trump returned to the White House in January, and were targeted to cut key revenues from oil sales that finance the Russian war machine. - Guardian

Despite record vehicle sales, Tesla saw a precipitous drop in profit in its most recent quarter. A rush to buy electric vehicles before a US tax credit for them disappears had boosted Tesla's flagging sales, leading to the automaker exceeding some of Wall Street's projections in its most recent financial quarter. Yet the company failed to meet earnings expectations and its stock fell in after-hours trading. - Guardian

Britain's largest banks and insurers must do more to support the UK defence sector amid growing threats of cyber and military attacks, the financial watchdog said. Nikhil Rathi, head of the Financial Conduct Authority (FCA), told City bosses they needed to step up their investment in Britain's rearmament push because the country was unprepared for modern conflicts or cyber attacks. - Telegraph

Sir Keir Starmer is preparing emergency measures to save Sir Sadiq Khan's London housing plans after a slump in construction. Ministers are set to push through a package of changes aimed at improving London's dire housebuilding rate. An announcement could come as soon as Thursday. - Telegraph

The UK government's borrowing costs have fallen to an 11-month low, offering Rachel Reeves a windfall of potentially billions of pounds ahead of next month's budget. The cost of government debt, as measured by the yield on 10-year bonds, dipped to the lowest since December 2024 as official inflation figures came in lower than expected for September, boosting the chances of more interest rate cuts in 2026. - The Times