REUTERS WORLD NEWS: Sunak Takes Over UK, Russia Bomb Warning, Wall Street Cautions on World Economy, More

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Reuters
The Reuters Daily Briefing

Tuesday, October 25, 2022

by Linda Noakes

Hello

Here’s what you need to know.

Sunak faces a huge task as he becomes UK prime minister, Russia brings its Ukraine ‘dirty bomb’ warning to the U.N., and Wall Street bankers warn on the world economy

Today’s biggest stories

King Charles welcomes Rishi Sunak during an audience at Buckingham Palace, October 25, 2022. Aaron Chown/Pool via REUTERS

WORLD

A Bucks County resident drops off a mail-in ballot in Levittown, Pennsylvania, October 24, 2022. REUTERS/Hannah Beier

U.S.


U.S. Senate candidate John Fetterman faces his biggest political test since his May stroke today when he debates Republican rival Mehmet Oz in a Pennsylvania race that will help determine whether Democrats keep their razor-thin majority in the chamber.

Supreme Court Justice Clarence Thomas temporarily blocked a judge’s order requiring Senator Lindsey Graham to testify to a grand jury in Georgia in a criminal investigation into whether then-President Donald Trump and his allies unlawfully tried to overturn 2020 election results in the state.

U.S. students have suffered historic learning setbacks with math and reading scores falling to their lowest levels since before the COVID pandemic, national exam results showed, the latest sign of the damage school closures wrought on children.

A 19-year-old gunman opened fire at a high school in St. Louis, Missouri, killing two people and injuring seven others before officers fatally shot the suspect, the city’s police commissioner said.

Harvey Weinstein sexually assaulted young women hoping to make it in Hollywood, a Los Angeles prosecutor argued, while the former producer’s attorney said his accusers willingly took part in a “casting couch” culture to boost their careers.

Dr. Fatih Birol, Executive Director of the International Energy Agency, speaks during the 15th Singapore International Energy Week, October 25, 2022. REUTERS/Isabel Kua

BUSINESS

Tightening markets for liquefied natural gas worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency said. Meanwhile, top Wall Street bankers renewed their warnings about the world economy amid geopolitical tensions and steep interest rate hikes to tackle decades-high inflation.

The U.S. Federal Reserve will go for its fourth consecutive 75 basis point interest rate hike on November 2, according to economists polled by Reuters, who said the central bank should not pause until inflation falls to around half its current level.

Toyota is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing EV projects, people with knowledge of the still-developing plans said.

Microsoft is stocking up on Chinese video game content to emulate Sony’s success with ‘Genshin Impact’, sources said, solidifying China’s transition from a land only of players to a hub of blockbuster developers.

HSBC named Georges Elhedery as its new chief financial officer in a surprise shift that puts the former head of its investment bank in pole position to eventually succeed Noel Quinn as chief executive.

Messaging app WhatsApp was starting to come back online and the company said the issue has been fixed after users across the world reported problems earlier today.

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