The UK's energy partner.

Learn more at equinore.

Good morning from the newsroom of the Financial Times.

Today is Friday, October 25th, and this is your FT news briefing.

Amazon's third quarter earnings set off a market cap wipeout on Thursday.

Boris Johnson is once again pressuring and

peace to agree to a general election. Mario Draki bids farewell to the

European Central Bank and it turns out France is emerging as a hub for tech startups.

Plus left-wing populists are poised to retake power in Argentine elections on Sunday.

The F.T.'s Colby Smith explains what this could mean for the country's debt holders.

I'm Mark Filipino, and here's the news you need to start your day.

Eighty billion dollars. That's how much of Amazon's stock market value was wiped out at

one point and after hours trading on Thursday. Its shares fell as much as 9% after the e-commerce group reported lower profits in the third quarter of 2019

than it did during the same period last year.

Profits were down by $500 million thanks to an increase in spending.

Amazon Chief Executive Jeff Bezos pinned a lot of the costs on gearing up for the holiday season,

especially its one-day delivery service for Prime customers.

Another spending item came in the form of Amazon's cloud storage business.

The company is starting to see infrastructure costs in Amazon Web Services build up as it tries to service a bigger customer

base.

Meanwhile, Amazon's projected fourth quarter sales were lower than what Wall Street analysts

were expecting.

...