REUTERS WORLD NEWS: Rus Pounds Ukraine, WW3 Warning from Moscow, Talk Show Host Fined $965m, More

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Reuters
The Reuters Daily Briefing

Thursday, October 13, 2022

by Linda Noakes

Hello

Here’s what you need to know.

Belarus edges closer to joining the war in Ukraine, ‘stop the steal’ supporters are training thousands of U.S. poll observers, and the most right-wing government since World War Two takes control in Italy

Today’s biggest stories

Rescuers work at the site of an apartment building damaged by a Russian military strike in Mykolaiv, Ukraine, October 13, 2022. REUTERS/Viktoriia Lakezina

RUSSIA-UKRAINE WAR

Francine and David Wheeler, whose son Ben was killed in the Sandy Hook Elementary School shooting, listen as their attorneys address the media in Waterbury, Connecticut, October 12, 2022. REUTERS/Michelle McLoughlin

U.S.

  • North Korean leader Kim Jong Un oversaw the launch of two long-range strategic cruise missiles, state media reported, calling it a test to confirm the reliability and operation of nuclear-capable weapons deployed to military units.
  • British Prime Minister Liz faced growing pressure from lawmakers in her own party to rethink tax-cut plans that sent markets into turmoil, with one ally saying it would be a “disastrously bad idea” to oust her a month into the job.
  • Italy’s new parliament opens today, with a Holocaust survivor due to preside over the first session of the upper house Senate as the most right-wing coalition since World War Two takes control of both chambers.
  • EU companies can ban headscarfs as long as it is a general prohibition that does not discriminate against employees, Europe’s top court said, the latest ruling on an issue that has divided Europe for years.
  • Another wave of COVID infections may have begun in Europe as cases begin to tick up across the region, the World Health Organization and European Centre for Disease Prevention and Control said. Data showed that only Europe recorded a rise in COVID cases in the week ended October 2, clocking an increase of 8% from the prior week.

BUSINESS & MARKETS

A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency said. The warning from the agency highlights a rift with Saudi Arabia, the world’s top oil exporter and OPEC’s de facto leader.

Federal Reserve officials are pushing back on investors’ mounting concerns that the U.S. central bank’s aggressive campaign to counter high inflation is setting the stage for a market crack-up.

BlackRock posted a 16% drop in third-quarter profit as volatile global markets pressured fee income and sent assets under management further below the $10 trillion mark hit last year.

The French government told TotalEnergies to raise wages as a standoff between the oil major and striking workers which has hit the country’s petrol supplies dragged on for a 16th day. The strikes have reduced France’s petrol output by over 60% and left one in three petrol stations struggling for supplies.

Taiwanese chipmaker TSMC cut its annual investment budget by at least 10% for 2022 and struck a more cautious note than usual on upcoming demand, flagging challenges from rising inflationary costs and predicting a chip downturn next year.

U.S. export restrictions on chip equipment to China are likely to lead to its ‘Sputnik’ moment, prompting Chinese chipmakers to try creative engineering solutions and chart their own course even if it may not succeed commercially in the longer term, experts said.

SPECIAL REPORT

How a U.S. firm supplied networking technology to the maker of feared Russian missiles

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