REUTERS WORLD NEWS: Russia resumes Ukraine grain deal, Netanyahu on the brink of victory, energy crisis hurting Europe’s industrial might

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Reuters

The Reuters Daily Briefing

Wednesday, November 2, 2022

by Linda Noakes

Hello

Here’s what you need to know.

Russia resumes participation in the Ukraine grain deal, Netanyahu says he is on the brink of a ‘very big victory’, and how the energy crisis is chipping away at Europe’s industrial might

Today’s biggest stories

A woman walks past a TV screen broadcasting a news report on North Korea firing a ballistic missile off its east coast, in Seoul, November 2, 2022. REUTERS/Kim Hong-Ji

WORLD

North Korea fired at least 23 missiles into the sea, including one that landed less than 60 km off South Korea’s coast, which the South’s President Yoon Suk-yeol described as “territorial encroachment”. It was the first time a ballistic missile had landed near the South’s waters since the peninsula was divided in 1945, and the most missiles fired by the North in a single day.

Russia said it would resume its participation in a deal to free up vital grain exports from Ukraine after suspending it over the weekend in a move that had threatened to exacerbate hunger across the world. In an emotional appeal, Ukrainian first lady Olena Zelenska urged tech workers from around the world to create innovations to stop Russia and help save people in her war-torn country.

Brazilian President Jair Bolsonaro did not concede defeat in his first public remarks since losing Sunday’s election, saying protests by his supporters were the fruit of “indignation and a sense of injustice” over the vote. However, he stopped short of contesting the election result.

Israel’s former premier Benjamin Netanyahu was poised for a dramatic return to power, claiming a “huge vote of confidence” from voters and declaring that his right-wing camp was on the cusp of a resounding election win.

Danish Social Democratic Prime Minister Mette Frederiksen, who narrowly won yesterday’s general election, said she had handed in her resignation to the Queen and will begin exploring a coalition across the political middle.

Voters arrive at the Franklin County Board of Elections to cast their early ballot for the 2022 midterm elections in Columbus, Ohio, November 1, 2022. REUTERS/Gaelen Morse

U.S.

The man charged with breaking into House Speaker Nancy Pelosi’s home and clubbing her husband with a hammer later told police he was on a “suicide mission” and had planned to target more politicians, according to court documents prosecutors filed. Former President Barack Obama warned that “more people are going to get hurt” unless the political climate changes.

President Joe Biden’s approval rating edged higher with just a week to go before midterm elections, a Reuters/Ipsos opinion poll found.

Pennsylvania’s highest court ordered officials to disallow mail-in ballots with the wrong date marked on the envelope, potentially throwing out numerous votes in close races that could determine control of Congress.

Chief Justice John Roberts temporarily blocked a House of Representatives committee from gaining access to former President Donald Trump’s tax returns, effectively pausing the fight over a request from lawmakers that he claims is politically motivated.

The Supreme Court declined to block Senator Lindsey Graham from having to testify before a grand jury in a criminal investigation of Trump’s efforts to overturn his 2020 election loss in the state of Georgia, handing a setback to a prominent ally of the former president.

BUSINESS

The Federal Reserve is expected to raise interest rates by three-quarters of a percentage point for the fourth straight time today, but open the door to a future slowdown in its policy tightening as it balances the risk of stubbornly high inflation against the economic strains of tighter credit.

The Bank of Canada has not ruled out another oversized interest rate hike to fight sky-high inflation, governor Tiff Macklem said, acknowledging Canadians feel “ripped off” by fast-rising prices.

CVS, Walgreens and Walmart have tentatively agreed to pay about $13.8 billion to resolve thousands of state and local government lawsuits accusing the chains of mishandling opioid painkillers, according to people familiar with the negotiations.

Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering – demand for natural gas and electricity both fell in the past quarter. It is far too early to rejoice, though. The drop is not just because industrial companies are turning down thermostats, they are also shutting down plants that may never reopen.

Shipping group Maersk warned of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations.

GSK beat third-quarter earnings forecasts and raised its 2022 estimate for the second time in four months, continuing its strong start as a standalone prescription medicine business since spinning off its consumer health brands.

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