Saturday, November 7, 2026
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Sterling rises against euro, dollar as risk sentiment improves

The pound is seen as a risk-sensitive currency, given Britain’s reliance on global trade and capital flows

International News via Reuters:

Sterling rose against the dollar and hit a two-week high versus the euro on Tuesday as risk appetite improved and the U.S. currency eased on hopes for a Middle East peace deal.

The pound is seen as a risk-sensitive currency, given Britain’s reliance on global trade and capital flows.

The dollar edged down as investors weighed hopes for a peace deal and the U.S. rate outlook, while global stocks rallied as investors bought the latest dip in tech stocks. 

The pound fell sharply on Friday, largely due to dollar strength, as expectations for higher U.S. rates and safe-haven demand increased amid escalating Middle East violence. 

On Tuesday, sterling rose 0.36% to $1.3385, after hitting $1.33065 on Monday, its lowest since May 18.

Some market participants said focus is shifting away from political concerns, with sentiment towards the UK economy improving.

“Whilst investors have remained focused on the UK’s fragile public finances, the second part of the ‘dual deficit’ narrative, the balance of payments, has been largely overlooked,” Kamal Sharma, forex strategist at BofA, said.

“A higher capital-intensive mix of foreign direct investment inflows should be seen as a medium-term positive for the pound valuation trends,” he added, citing AI-linked inflows alongside financial services and biotech investment.

The June 18 Makerfield by-election could revive concerns about fiscal policy if Greater Manchester Mayor Andy Burnham returns to Westminster, potentially paving the way for a leadership challenge to Prime Minister Keir Starmer later this year.     

Investors will closely watch GDP data on Friday for clues on the economic outlook.

“A notable upward revision in the PMI business indices last week suggests that the initial confidence drop was overstated and that the UK economy is more resilient to the Middle East events than first feared,” Enrique Díaz-Alvarez, chief economist at global financial services firm Ebury, said.

The S&P Global Purchasing Managers’ Index for Britain’s ‌services sector fell to 49.3, though the reading was stronger than the flash estimate of 47.9. 

Bank of England policymaker Megan Greene said last week she saw a growing case for raising interest rates as the Iran war drags on and increases the risk of broader price rises across the economy.     

The euro was down 0.13% to 86.33 pence, after hitting 86.27 pence, its lowest since May 26.

reporting by Stefano Rebaudo. Editing by Mark Potter

Strongest earthquake in nearly 150 years hits off Cuba, shakes Mexico, Florida

The U.S. Geological Survey (USGS) measured the quake at a magnitude 6.1 at a shallow depth of 26 km (16 miles) and its epicenter 104 km west-northwest of Mantua, Cuba, about two to four hours by car from the capital Havana

International News via Reuters:

A historically strong earthquake struck off Cuba’s northwest coast on Monday, according to official reports, shaking parts of Cuba, Mexico and Florida that are typically not prone to quakes.

The U.S. Geological Survey (USGS) measured the quake at a magnitude 6.1 at a shallow depth of 26 km (16 miles) and its epicenter 104 km west-northwest of Mantua, Cuba, about two to four hours by car from the capital Havana.

Monday’s earthquake was unusual for this area of the Caribbean, said Paul Earle, a seismologist at the USGS, noting that the quake occurred within a tectonic plate, where earthquakes are usually more scattered and less frequent than when they occur along plate boundaries.

An earthquake this strong had not hit within 322 km (200 miles) of Monday’s quake since 1880, when a 6.0 temblor hit near San Cristobal, Cuba, said Earle.

Authorities have not yet reported any major damage or casualties, but the quake spiked concern in Cuba, where decades of economic crisis have left buildings in severe disrepair. Ongoing widespread blackouts across the region have made communications difficult.

“It felt strong. I had never felt anything like that,” said Yusmila Hernandez, 44, at her home in Pinar del Rio, in western Cuba.

“People ran outside, everyone scared. I can’t even explain it. It felt like no earthquake has ever felt here before,” Hernandez said.

USGS reported that shaking was also felt in Florida. In Mexico, the quake was felt in the tourist hubs of Cancun, Playa del Carmen and Tulum on the country’s Yucatan peninsula. Residents and workers in Cancun’s city center, unaccustomed to strong quakes, evacuated buildings.

Emergency protocols were activated in Mexico’s Yucatan and Quintana Roo states, but there were not yet reports of damage, the state’s governors both said on social media. 

No tsunami warning or watch was issued after the earthquake, according to the U.S. National Weather Service.

Reporting by Annet Rios, Ayose Naranjo and Dave Sherwood in Havana, Cuba; Paola Chiomante in Cancun, Mexico, and Brendan O’Boyle and Cassandra Garrison in Mexico City; Writing by Brendan O’Boyle; Editing by Chris Reese and Nick Zieminski

Stocks bounce back, oil pares gains as Iran and Israel signal a pause

The dollar eased, although uncertainty remained as Tehran said it would resume strikes if Israel continued to hit Iran-backed Hezbollah in Lebanon

International News via Reuters:

MSCI’s global equities index fell slightly on Monday but Wall Street saw some support from a bounce in technology stocks while oil futures pared earlier gains as Iran and Israel said they had halted attacks on each other after an appeal from U.S. President Donald Trump.

The dollar eased, although uncertainty remained as Tehran said it would resume strikes if Israel continued to hit Iran-backed Hezbollah in Lebanon. Israel had struck a petrochemical plant in southwestern Iran and Iran’s Islamic Revolutionary Guard Corps said it retaliated with a strike aimed at a similar Israeli plant in the city of Haifa.

In energy markets, U.S. crude futures settled up 0.84%, or 76 cents at $91.30 a barrel after earlier trading above $95 a barrel, while Brent ended the session at $94.25 per barrel, up 1.25%, or $1.16, after earlier rising above $98 a barrel.

Wall Street main indexes staged a comeback as investors looked for bargains after Friday’s selloff when the heavyweight technology sector put pressure on the entire market. The sector had suffered its largest daily decline since April 2025 after a hot May jobs report fueled fears the U.S. Federal Reserve would need to raise interest rates.

“The profit takers did their work on Friday,” said Bruce Zaro, managing director at Granite Wealth Management in Plymouth, Massachusetts. “New buyers have come in and said, that was overdone.” 

Aside from worrying about geopolitics and interest rates, Zaro said that investors were also preparing for this week’s hotly anticipated SpaceX IPO and reacting to tweaks to membership of the S&P 500. The index is adding Marvell Technology, helping to boost the chip sector, which sold off sharply on Friday. 

The S&P 500 technology index finished up 1.5% on Monday after tumbling 5.8% on Friday.

On Wall Street, the Dow Jones Industrial Average fell 80.77 points, or 0.16%, to 50,786.01, the S&P 500 rose 21.99 points, or 0.30%, to 7,405.73 and the Nasdaq Composite rose 220.23 points, or 0.86%, to 25,929.66. 

MSCI’s gauge of stocks across the globe fell 4.84 points, or 0.44%, to 1,100.96.

Earlier the pan-European STOXX 600 index had finished down 0.15%.

U.S. and European trading sessions were in stark contrast with Asia where South Korea’s chip-heavy KOSPI, the world’s best-performing market this year, had tumbled 8.3% while Japan’s Nikkei fell almost 4%, with market darlings across the computer-chip production supply chain falling furthest, while Taiwan’s benchmark sank 3.5%.

In currencies, the dollar retreated from its highest level in nearly two months as the halt of Iranian and Israeli attacks reduced safe haven demand.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.08% to 100.00, with the euro up 0.1% at $1.1531.

Against the Japanese yen, the dollar weakened 0.07% to 160.17.

In cryptocurrencies, bitcoin gained 2.23% to $63,248.36. Last week it had notched its heaviest weekly drop since the collapse of crypto exchange FTX in late 2022, falling about 16%. 

In government bonds markets, the yield on benchmark U.S. 10-year notes rose 2.8 basis points to 4.564%, from 4.536% late on Friday while the 30-year bond yield  rose 3.9 basis points to 5.0384% from 4.999% late on Friday.

The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 0.2 basis points to 4.164%, from 4.162% late on Friday.

In precious metals, gold was close to flat as hopes for a potential Israel-Iran ceasefire helped it bounce from session lows but expectations for a Federal Reserve rate hike kept it in check.

Spot gold fell 0.03% to $4,327.63 an ounce.

Reporting by Sinéad Carew in New York, Samuel Indyk and Tom Westbrook; Editing by Shri Navaratnam, Thomas Derpinghaus, Ros Russell, Joe Bavier and Nia Williams

Congo says Ebola deaths top 100 as armed groups threaten response

The outbreak of the Bundibugyo strain of Ebola was announced on May 15, though officials have since said it went undetected for weeks, leaving health authorities behind the curve and struggling to bring it under control

International News via Reuters:

Democratic Republic of Congo on Monday said confirmed Ebola deaths had climbed to 101 and that the presence of armed groups was continuing to hinder the response in the hardest-hit province.

The outbreak of the Bundibugyo strain of Ebola was announced on May 15, though officials have since said it went undetected for weeks, leaving health authorities behind the curve and struggling to bring it under control.

It is unfolding in three provinces long beset by armed conflict: Ituri, North Kivu and South Kivu.

In its latest situation report published on Monday, Congo’s government said there had been 35 new confirmed cases in the previous 24 hours, including 10 deaths. That brought the total number of confirmed cases to 550 and the total number of confirmed deaths to 101.

The cases have been recorded in 17 of Ituri’s health zones as well as in seven health zones in North Kivu and one health zone in South Kivu.

Mistrust and resistance have hampered the response, with attacks on burial teams and treatment centres reported. The latest such attack occurred on Sunday, a source familiar with the government response said, with a burial team targeted at the Nyamurongo cemetery in Bunia, leaving two people seriously injured and two vehicles damaged. 

The situation report said the presence of armed groups in Djugu, Irumu and Mambasa – all in Ituri – was continuing “to limit humanitarian access in multiple health zones affected or at risk.”

It said that Bunia, the capital of Ituri, was relatively calm.

Earlier on Monday, Africa’s top public health agency said the number of confirmed Ebola cases in Congo had risen to 544.

The Africa Centres for Disease Control and Prevention gave Congo’s confirmed Ebola deaths as 88.

Reporting by Congo newsroom and Anait Miridzhanian; Writing by Robbie Corey-Boulet; Editing by Alexander Winning and Daniel Wallis

UK regulator sues Woodford, his new service over ‘unauthorised’ investment advice

The Financial Conduct Authority said it was seeking an injunction against Woodford and W4.0, the online subscription-based service he launched last year, to stop them carrying on “the potentially unlawful activities”

International News via Reuters:

Britain’s financial regulator said on Monday it was suing former fund manager Neil Woodford and his new investment service, accusing them of providing regulated investment advice and making financial promotions without authorisation.

The Financial Conduct Authority said it was seeking an injunction against Woodford and W4.0, the online subscription-based service he launched last year, to stop them carrying on “the potentially unlawful activities”.

Woodford and W4.0, which is registered in the United Arab Emirates, did not immediately respond to Reuters’ requests for comment. W4.0’s website says it exists “to explain active investment strategies”, rather than to provide financial advice or investment management.

The website also says: “We are not regulated by the FCA or any other regulatory body, and we do not provide financial advice. That’s deliberate.”

Last August, the financial watchdog fined Woodford and his company, Woodford Investment Management, a combined £45.9 million over management failures of a one-time flagship fund that collapsed in 2019.

Reporting by Muvija M and Sam Tabahriti; additional reporting by Sarah Young; editing by Andrew Heavens

No evidence of gunshots found in Pembroke

Police respond to report of loud noises in the Glebe Road area

Around 1pm Monday, 8th June 2026, police officers responded to a 911 call reporting two loud noises in The Glebe Road, Pembroke area.

The caller expressed concerns that the noises may have been gunshots. However, after officers patrolled the surrounding area, nothing was found to substantiate those concerns.

Additionally, checks at King Edward VII Memorial Hospital revealed that no one had attended the medical facility seeking treatment for any gunshot related injury.

The Bermuda Police Service appreciates the anxiety such incidents can create and encourages members of the public to report any similar occurrences immediately and to refrain from spreading rumours regarding such matters.

Media release supplied by the Bermuda Police Service.

School in lockdown mode after reports of gunshots

The Department of Education advises that Victor Scott School has activated its lockdown procedures following reports of suspected gunshots in the vicinity of the campus.

The safety and well-being of students and staff remain our highest priority. School administrators are working closely with the relevant authorities, and all necessary measures have been taken to ensure that students and staff are secure while the situation is being assessed.

Parents and guardians will continue to receive updates through official school communication channels as more information becomes available. We urge the public to avoid speculation and to allow the authorities to carry out their investigations.

The Department appreciates the cooperation and understanding of the school community during this time.


Update, 3pm: The Lockdown has been lifted at the school.

Airline chiefs slam engine makers for delays at industry summit

The comments came during the International Air Transport Association’s annual meeting in Rio de Janeiro, where executives said engine problems remain one of the industry’s biggest constraints despite signs of improvement

International News via Reuters:

Commercial jet enginemakers faced renewed pressure from airline CEOs on Monday, as carriers warned that grounded aircraft and higher repair costs could persist for years.

The comments came during the International Air Transport Association’s annual meeting in Rio de Janeiro, where executives said engine problems remain one of the industry’s biggest constraints despite signs of improvement.

“Obviously there is dissatisfaction, and the way to measure that dissatisfaction is how many aircraft I have grounded today,” LATAM Brasil CEO Jerome Cadier told Reuters, adding that it has 12 single-aisle planes grounded due to engine issues.

While airline executives have long complained about engine problems, supply-chain improvements and actions taken by manufacturers like RTX’s Pratt & Whitney were expected to help keep more planes flying.

Some CEOs and lessors say there has been progress. But with the supply of engines and aircraft still tight, executives expect constraints to persist.

“Year-on-year we’re certainly seeing incremental improvement,” lessor Avolon CEO Andy Cronin said in an interview. “When you look at the global fleet overall it continues to be very tight, so we expect the strain on the market to continue for at least another couple of years.”

Hundreds of A320neo planes, ​the latest version of the Airbus ⁠single-aisle jet, have been grounded globally, partly due ​to long wait times for engine inspections and ​repairs, and after a manufacturing problem at Pratt weighed on the output of the fuel-efficient GTF engines.

Airlines also cited issues with engines made by Rolls-Royce and GE Aerospace for Boeing and Airbus planes.  

RTX and GE Aerospace both said they are investing heavily to increase repair and production capacity for their engines. RTX added it is working to improve the durability of the GTF.

Rolls Royce was not immediately available for comment.

“I think the biggest constraint for at least the next five years is going to be lack of engines,” United Airlines CEO Scott Kirby told reporters on Sunday.

“GE is working hard. I’ll put them at the top of the list,” Kirby said. “Pratt has had well-publicized challenges, but is sincere and genuine in their desire to want to fix them and to work with us. … The truth is the only one that I sort of have in my doghouse is Rolls.”

ENGINE ISSUES CREATE HIGHER COSTS FOR AIRLINES   

WestJet CEO Alexis von Hoensbroech said modern engines are generating higher maintenance costs, offsetting some fuel savings.

“There’s a lot of unscheduled maintenance that’s happening,” he said.  “The cost of ownership is significantly higher than what we had anticipated.”

Azul CEO John Rodgerson said some engines are not as durable as initially expected: “They’re just not lasting as long.” 

Italy’s ITA Airways, which will take a decision in weeks on whether to sue RTX’s Pratt over GTF problems, said the grounding of almost 20% of its fleet is complicating growth plans to Latin America.

ITA Airways CEO Joerg Eberhart said the carrier needs the grounded single-aisle aircraft to feed passengers to airport hubs for longer haul routes.  Cathay Pacific CEO Ronald Lam told reporters that about half of the 10 Airbus A320s operated by its low-cost HK Express subsidiary are grounded at any one time due to GTF engine issues.

DISCONNECT BETWEEN PERFORMANCE OF AIRLINES, ENGINE MAKERS

IATA CEO Willie Walsh said there is a disconnect between the financial performance of enginemakers, which have increased their margins by double digits, and airlines which he said have faced about $11 billion in additional costs due to supply-chain disruptions.

“They’ve done extremely well at a time of major disruption for the airlines. And I think that paradox really does need to be called out,” Walsh said. 

GE Aerospace CEO Larry Culp has defended the jet-engine industry’s pricing practices, saying they reflect the scale of investment required to develop and support complex propulsion systems.

For LATAM Brasil’s Cadier, suing doesn’t make sense, but he wishes enginemakers could get a taste of the pain that airlines are absorbing.

“Just as airlines are suffering, I would also like to see engine makers’ margins suffer.”

Reporting by Allison Lampert, Gabriel Araujo, Luciana Magalhaes, Rajesh Kumar Singh and Joe Brock in Rio de Janeiro; Editing by Sanjeev Miglani

UK financial regulator softens proposed change to UK money market fund rules

In May the government said it would impose tougher rules on money market funds, ‌which were hit by heavy redemptions during a COVID-19-induced “dash for cash” and have been a focus of regulators since

International News via Reuters:

Britain’s financial regulator on Monday slightly softened its proposals for money market funds to hold more liquid assets which are designed to ensure they are resilient enough to weather financial shocks.

In May the government said it would impose tougher rules on money market funds, ‌which were hit by heavy redemptions during a COVID-19-induced “dash for cash” and have been a focus of regulators since.

The Financial Conduct Authority set out an update to its original proposals in a statement on Monday after receiving consultation responses.

It said current minimum weekly liquid assets would be unchanged, but that it would now set out a “strong supervisory expectation” that so-called ‘stable net asset value’ funds would need to hold 40% WLA and variable net asset value funds would need to hold 20% WLA.

Funds would be able to dip below these levels to meet redemptions or for reasons outside their control, but should only do so “very rarely”, the FCA said.

The original proposals had been for a binding requirement that firms held 50% of their assets in investments that could be converted into cash within a week.

“Our updated proposals will deliver a clear increase in the level of resilience expected of UK MMFs while making sure they can continue to meet the needs of investors,” the regulator said.

They are subject to final consideration and sign-off within the FCA.

Reporting by Sam Tabahriti, writing by Sarah Young and William James; editing by David Milliken

Leo meets abuse victims in Spain as some protest

The Vatican provided few details of the meeting, which lasted about an hour. But it said Leo had listened to proposals to make Church safeguarding more effective, and promised to make it a safe space for all

International News via Reuters:

Pope Leo met on Monday with six survivors of abuse by Catholic clergy in Spain, the Vatican said, as groups of survivors who were not invited criticised the event as a mere photo opportunity.

The Vatican provided few details of the meeting, which lasted about an hour. But it said Leo had listened to proposals to make Church safeguarding more effective, and promised to make it a safe space for all.

Leo, on a week-long visit to Spain, had earlier made his first direct reference to scandals that have shaken the Spanish Church’s credibility, telling bishops that they must listen to survivors and offer them reparations.

Leo told the clerics that survivors of abuse should see a “determined commitment” from the Church to strengthen safeguarding and create a safe culture for children and other vulnerable people.

A ​2023 report ⁠by Spain’s human rights ombudsman estimated that hundreds ​of thousands of victims had been abused by Spanish clergy over decades, echoing scandals that have shaken the Church’s moral authority around the world and cost hundreds of millions of dollars in settlements.

Juan Cuatrecasas, president of the group “Stolen Childhood”, said the survivors’ meeting with the pope had fallen short by failing to include representatives of all Church victims.

“They are being used by the Church, by the Bishops’ Conference, to clean up the image of the Spanish Church”, he told reporters.

SURVIVORS SAY CHURCH MUST DO MORE 

While Leo’s predecessor, Francis, took steps to address clerical abuse, survivors’ groups have called for stricter accountability and a global zero-tolerance policy for clergy accused of misconduct.

“Stolen Childhood” and other Spanish groups have demanded measures including fair compensation and lifelong psychological care for victims, as well as support for education and employment. 

Last week, Madrid Cardinal Jose Cobo said it was not feasible for the pope to meet multiple groups of survivors during a packed itinerary.

“It is simply that his time is limited,” said Cobo.

Spanish activist Miguel Hurtado was dismayed that the pope was not due to meet survivors of abuse at the mountainside Montserrat Abbey outside Barcelona, where Hurtado says he was abused as a teenager.

Leo will visit Montserrat, which was included in the 2023 ombudsman report, on Wednesday and have lunch with its Benedictine monks.

“At the very least … remember the victims,” Hurtado told reporters. “Commit publicly to cleaning the Church of abusers and those who cover them up.”

The ombudsman’s report identified 15 victims and three alleged perpetrators linked to the abbey.  

Reporting by Joshua McElwee and Emma Pinedo; additional reporting by Joan Faus, Aislinn Laing, Elena Rodriguez and Silvio Castellanos; Editing by David Latona, Alex Richardson and Kevin Liffey