REUTERS WORLD NEWS: Deadly Poland Missile Explosion,Trump to Run Again, FTX Head Begged for Help, More

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Reuters

The Reuters Daily Briefing

Wednesday, November 16, 2022

by Linda Noakes

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Here’s what you need to know.

Trump could exploit a legal gray area to funnel millions into his 2024 bid, UK inflation hits a 41-year high, and how FTX’s Bankman-Fried begged for a rescue

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Today’s biggest stories

A view shows damage after an explosion in Przewodow, a village in eastern Poland near the border with Ukraine, in this image obtained from social media by Reuters released on November 15, 2022

WORLD

Donald Trump dances to music in front of his wife Melania Trump, after announcing that he will once again run for U.S. president , at his Mar-a-Lago estate in Palm Beach, Florida, November 15, 2022. REUTERS/Jonathan Ernst

U.S.

BUSINESS

A review of FTX documents and interviews with executives and investors provide the most comprehensive picture so far of how Sam Bankman-Fried became one of the world’s richest men in just a couple of years, and then came crashing down. Read our special report on how the FTX founder begged for a rescue even as he revealed huge holes in the firm’s books.

Target forecast a surprise drop in holiday-quarter sales, blaming surging inflation and “dramatic changes” in consumer behavior for a drop in demand for everything from toys to home furnishings. The big-box retailer’s shares fell 14% in premarket trading.

Surging household energy bills and food prices pushed British inflation to a 41-year high, as finance minister Jeremy Hunt prepares to announce tax hikes and spending cuts to control price growth. Britain’s lenders are seeking more data on the finances of potential and existing customers on the rising risk of borrowers struggling with their debts, credit data firm Experian said.

Elon Musk, known for his combative testimony, is set to take the stand in a Delaware court today to defend against claims that his $56 billion Tesla pay package was based on easy to achieve performance targets and influence with the board of directors.

Toyota rolled out a 2-liter plug-in version of its Prius, in an attempt to reboot the 25-year-old hybrid that was once at the cutting edge of low-emissions technology and appeal more widely to cost-conscious drivers.

Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York. Citigroup, HSBC, Mastercard and Wells Fargo are among the financial companies participating in the experiment.

COP27

The latest news and analysis from the U.N. climate summit

Quote of the day

“They would carry dead people out and would throw them in a truck with the garbage. We were witnessing sadism in its purest form.”

 

 

Ukrainians describe horrors of Kherson occupation

Video of the day

Artemis test mission blasts off to the moon

NASA’s towering next-generation moon rocket blasted off from Florida on a crewless voyage inaugurating the U.S. space agency’s Artemis exploration program 50 years after the final Apollo moon mission.

And finally…

‘Unprecedented’ demand for Taylor Swift tour crashes website

 

Swifties, the nickname for Swift’s fans, said they were repeatedly dropped from queues and turned their ire toward Ticketmaster.

More from Reuters

U.S. Midterms COP27 Disrupted Legal News Breakingviews

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