REUTERS WORLD NEWS: Massacre in Thailand Kills 38 (22 Kids), EU Holding Europe Sans Russia Summit, Ukraine Advances, More

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Reuters
The Reuters Daily Briefing

Thursday, October 6, 2022

by Linda Noakes

Hello

Here’s what you need to know.

A new Europe club meets in Prague to build a ‘new order’ without Russia, the OPEC+ oil output cut fans inflation concerns, and France’s Annie Ernaux wins the Nobel Prize for Literature

Today’s biggest stories

People gather outside a daycare center that was the scene of a mass shooting in the town of Uthai Sawan, Thailand, October 6, 2022. Sakdipat Boonsom/Handout

WORLD

Florida Governor Ron DeSantis speaks as President Joe Biden visits Fisherman’s Wharf while touring areas damaged by Hurricane Ian, in Fort Myers Beach, October 5, 2022. REUTERS/Evelyn Hockstein

U.S.

  • President Joe Biden met with Florida Governor Ron DeSantis to assess the devastation from Hurricane Ian, and stressed the need for a united federal and state effort for the lengthy recovery ahead. We report from the inland city of Arcadia, where the hurricane saved the worst for last.
  • A U.S. appeals court agreed to fast-track a legal challenge to a third-party review of most of the records seized by the FBI from former President Donald Trump’s home, after prosecutors complained the process is hampering their investigation.
  • The Democrat-led border city of El Paso, Texas, has sent more migrants on buses to New York City and Chicago than a campaign by Texas’ Republican governor, a twist in an ongoing partisan battle over U.S. border security.
  • A federal appeals court ruled that a program that has protected hundreds of thousands of young immigrants from deportation was unlawful, but said current enrollees could renew their status and sent the case back to a lower court to consider a new Biden administration regulation.
  • Four members of a California family, including an eight-month-old girl, were found dead in a rural area after they were abducted in the city of Merced on Monday, authorities said.

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and OPEC Secretary-General Haitham al-Ghais shake hands at OPEC headquarters in Vienna, October 5, 2022. REUTERS/Lisa Leutner

BUSINESS & MARKETS

Global oil supply is set to tighten, intensifying concerns over soaring inflation after the OPEC+ group of nations announced its largest supply cut since 2020 ahead of European Union embargoes on Russian energy.

Officials in Nigeria discovered an illegal connection line from one of its major oil export terminals into the sea that had been operating undetected for nine years. The 4-kilometer connection from the Forcados export terminal into the sea was found during a clampdown on theft in the past six weeks.

Ratings agency Fitch lowered the outlook for its credit rating for British government debt to ‘negative’ from ‘stable’, days after a similar move from rival Standard & Poor’s. Britain’s battered pound will be around 3.6% stronger in a year, according to a Reuters poll in which analysts were divided, however, on whether the currency would reach parity with the U.S. dollar by year-end.

Elon Musk and Twitter may reach an agreement to end their litigation in coming days, clearing the way for Musk to close his $44 billion deal for the social media firm, a source told Reuters. Apollo Global Management and Sixth Street Partners are no longer in talks to finance the deal, we exclusively reveal.

Credit Suisse is looking to sell its famed Savoy Hotel, located on Paradeplatz in the center of Zurich’s financial district. The beleaguered bank can stop the rot with a $5 billion cash call, says Breakingviews columnist Liam Proud.

Toyota said it would restart production of its first electric vehicle, the bZ4X, after fixing potential safety problems that had halted sales of the new battery-powered model for more than three months.

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