Good morning from the Financial Times. Today is Tuesday, October 28th, and this is your FT News Briefing.

American M&A is on a tear, and investors seem to be loving Argentina's election results.

Plus, Apple's Services Division is expected to hit record revenues.

It's extraordinary that this is a division of apples,

which standalone is bigger than the entire annual sales of Walt Disney or Tesla or Bank of America or Nestle.

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

Music and here's the news you need to start your day. Seems like it was merger Monday yesterday.

U.S. companies announced $80 billion worth of deals.

They happened in some of the country's biggest industries, like banking,

biotech, and utilities. The Trump administration has signaled that it's open to large

mergers and acquisitions, and that's helping revive consolidation. M&A is also being fueled by

falling interest rates and more clarity on tariffs.

2025 is on track to be the biggest year for mega deals since 1995.

Investors in Argentina were riding high yesterday.

The country's currency and government bonds surged after a landslide election victory for President Javier Malay's party.

Investors are betting that the win will rescue Malay's pro-market reforms and stop a run on the peso.

Here to tell us more is the FTs, Kira Nugent in Buenos Aires.

Hi, Kira. Hi, Sonia. So just how much enthusiasm did we see for this election result in the markets yesterday? Give us a sense of scale. A lot. The peso strengthened 6% on Monday. You saw shares in some Argentine companies that are

traded on Wall Street jumping by 50%. The local stock exchange in Buenos Aires jumped to 20%. And I'd

say probably most importantly for Malay in the long run, Argentina's country risk, which is a measure

of the interest premium that investors

require to hold Argentine debt has plunged.

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