Thursday, September 29, 2022
by Linda Noakes
Here’s what you need to know.
Trump objects to verifying a list of property seized from Mar-a-Lago, Porsche races higher after a landmark listing, and why Europe is bracing for mobile network blackouts
Today’s biggest stories
Construction for a stage near St. Basil’s Cathedral in Red Square in Moscow, September 28, 2022. Banners read: ‘Donetsk, Luhansk, Zaporizhzhia, Kherson – Russia!’ REUTERS/Evgenia Novozhenina
- President Vladimir Putin will sign formal documents tomorrow proclaiming Russia’s annexation of four Ukrainian regions, as Moscow rushes to lock in territorial claims that the Ukrainian army is threatening to reverse on the battlefield.
- Ukrainians are fleeing from the Russian annexation – while they still can. We look at what happens now.
- The United States will in coming days impose economic costs on Moscow as Biden administration officials look to the finance and energy sectors for future sanctions action.
- EU leaders will discuss next week what the bloc has denounced as sabotage on the subsea Nord Stream gas pipelines, an EU official said, adding that the incident had changed the nature of the conflict in Ukraine fundamentally.
- Russian IT professionals are moving abroad en masse to avoid military mobilization, industry leaders have warned, despite official assurances that key technology workers will not be called up to fight in Ukraine.
Here’s what you need to know about the conflict right now. A flooded street is seen in Fort Myers as Hurricane Ian makes landfall in southwestern Florida, September 28, 2022. REUTERS/Marco Bello
Hurricane Ian, one of the mightiest to hit the U.S. mainland in recent years, flooded communities and left more than two million homes and businesses without power as it battered Florida’s Gulf Coast with howling winds, torrential rains and raging surf.
Lawyers for former President Donald Trump are resisting a federal judge’s instruction to submit a sworn declaration on whether they believe the government’s list of property taken from Trump’s Florida estate is accurate.
The Senate edged toward passage of a temporary government funding bill to avert a partial government shutdown, with leaders of both parties signaling support for the measure and lawmakers eager to return to the campaign trail.
The U.S. Chamber of Commerce endorsed Republican celebrity physician Mehmet Oz in a high-stakes race for a Senate seat in Pennsylvania, lauding what it called his “commitment to free enterprise and pro-growth policies.”
An election worker in a western Michigan town has been charged with two felonies after allegedly inserting a flash drive into a computer containing confidential voter registration data during an election in August, local officials said.
U.S. Vice President Kamala Harris said North Korea is a country with a “brutal dictatorship”, an illegal arms program and rampant human rights violations, issuing unusually strong criticism during a visit to the inter-Korean border.
China signaled no let-up in its combative approach to foreign policy in a third term for Xi Jinping as leader despite criticism from many Western diplomats that the so-called Wolf Warrior stance has been counterproductive.
A court in military-ruled Myanmar jailed deposed leader Aung San Suu Kyi and her former economic adviser, Australian Sean Turnell, for three years for violating a secrets law, a source familiar with the proceedings said.
India’s top court upheld the right of a woman to an abortion up to 24 weeks into pregnancy regardless of marital status, a decision widely hailed by women’s rights activists.
Brazilian President Jair Bolsonaro once said only God could remove him from power. On Sunday, polls suggest, he may need a miracle to keep him there.
A man walks past the Bank of England in London, September 28, 2022. REUTERS/Hannah McKay
BUSINESS & MARKETS
British Prime Minister Liz Truss broke her silence following nearly a week of chaos in financial markets triggered by her plans for tax cuts, saying she was willing to take “controversial” decisions to reignite growth. We look at what’s likely to happen next in the crisis and explain why Britain’s pension schemes are dumping gilts.
China’s central bank has asked major state-owned banks to be prepared to sell dollars for the local currency in offshore markets as it steps up efforts to stem the yuan’s descent, four sources with knowledge of the matter said.
Porsche shares made a strong start after Volkswagen defied volatile markets to list the sports car brand at a valuation of $72 billion in Germany’s second-biggest market debut ever.
Once unthinkable, mobile phones could go dark around Europe this winter if power cuts or energy rationing knock out parts of the mobile networks across the region. Currently there are not enough back-up systems in many European countries to handle widespread power cuts, four telecoms executives said.
Some major advertisers including Dyson, Mazda, Forbes and PBS Kids have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography, the companies told Reuters.
H&M, the world’s No.2 fashion retailer, launched a $177 million cost savings drive after reporting weaker-than-expected profits due to soaring input costs, slowing consumer spending and its exit from Russia.