The torch, ignited last month in ancient Olympia, the Greek birthplace of the ancient Games, was handed over in Athens to Italian organisers earlier this week
International News via Reuters:
The Olympic flame will be lit on Friday morning in the square of Italy’s presidential palace before starting its journey across the country ahead of the 2026 Winter Games.
The torch, ignited last month in ancient Olympia, the Greek birthplace of the ancient Games, was handed over in Athens to Italian organisers earlier this week.
A lantern holding the flame was brought to the Quirinale Palace on Thursday evening and put on display in the Sala delle Vetrate, the palace’s ceremonial hall.
The Olympic flame will be lit in a cauldron set in Piazza del Quirinale in a ceremony that Italian President Sergio Mattarella and International Olympic Committee President Kirsty Coventry are expected to attend.
Perched on one of Rome’s seven hills, the 16th-century Quirinale Palace was a papal and royal residence before becoming the home of Italy’s head of state in 1946.
The Games will be co-hosted by Milan and the Dolomite resort of Cortina d’Ampezzo and run from February 6 to February 22.
Italy, a winter sports powerhouse, last hosted the Winter Olympics in 2006 in Turin.
The flame will leave Rome’s Stadio dei Marmi on December 6 for a 12,000-km relay through Italy’s 20 regions, 110 provinces and 60 cities, involving 10,001 torchbearers.
Reporting by Antonio Denti and Giselda Vagnoni; Editing by Kate Mayberry
The lower delivery data caps a challenging week in which the company said it faced a quality issue with metal fuselage panels on some planes in its best-selling A320 family of jets
International News via Reuters:
Airbus delivered 72 planes in November to reach 657 so far this year, the European planemaker said on Friday.
The figure, underscoring a weak November cited by Airbus CEO Guillaume Faury after an industrial glitch, means the world’s largest planemaker has to deliver a near-record 133 planes in December to meet a newly revised 2025 goal of 790.
November’s tally was down from 78 in the previous month and 84 in November last year, confirming a Reuters report this week.
The lower delivery data caps a challenging week in which the company said it faced a quality issue with metal fuselage panels on some planes in its best-selling A320 family of jets, only days after a surprise recall to fix a computer bug.
On Wednesday, the planemaker cut its full-year commercial delivery target by 4% to “around 790” jets, down from around 820, but maintained its financial goals. Airbus has previously said it considers “around” to mean a 20-aircraft margin of error.
Airbus also said on Friday that it had booked 75 new orders in November, bringing the total this year to 797, or a net 700 after cancellations.
Even after the fuselage problem linked to a Spanish supplier, Airbus deliveries remain ahead of rival Boeing as the U.S. planemaker recovers from its own prolonged crisis, though Airbus is lagging behind on new orders.
For January to October, the latest period for which data is available, Boeing reported a net 782 orders after cancellations.
BAT held a 15.3% stake in the company, which it sought to dilute to reduce debt and exit a non-strategic asset
International News via Reuters:
British American Tobacco has sold more than half its stake in ITC Hotels for about 38 billion rupees ($424.70 million), the tobacco giant said on Friday.
BAT held a 15.3% stake in the company, which it sought to dilute to reduce debt and exit a non-strategic asset. After the 9% stake sale, it now holds 6.3%.
The maker of Lucky Strike and Dunhill cigarettes was the second-biggest shareholder in ITC Hotels before the sale, according to LSEG data. It inherited the stake when ITC Ltd spun off its hotels business in January while holding the largest stake.
BAT sold 187.5 million shares in ITC Hotels through an accelerated bookbuild process.
Shares of the India-listed company were down 1% on Friday.
($1 = 89.9450 Indian rupees)
Reporting by Ankita Bora and Raechel Thankam Job in Bengaluru; Editing by Rashmi Aich and Harikrishnan Nair
Halifax said house prices were flat in November, down from 0.5% growth in October
International News via Reuters:
Britain’s housing market slowed in November in both annual and monthly terms in the run-up to the government’s budget, figures from mortgage lender Halifax showed on Friday.
Halifax said house prices were flat in November, down from 0.5% growth in October.
Compared to a year ago, house price growth slowed to 0.7% from an annual increase of 1.9% in October, the weakest rate since March 2024.
The lender said the annual slowdown largely reflected the impact of stronger house price growth a year ago.
“Annual growth has slowed to +0.7%, the weakest rate since March 2024, though this largely reflects the base effect of much stronger price growth this time last year,” Amanda Bryden, head of mortgages at Halifax, said.
“Even with the changes to Stamp Duty back in spring and some uncertainty ahead of the Autumn Budget, property values have remained steady.”
Some other measures of Britain’s housing market have suggested a slowing in house price growth which has been attributed to caution among homebuyers ahead of finance minister Rachel Reeves’ November 26 budget.
Figures from rival mortgage lender Nationwide published on Tuesday showed that prices rose by 0.3% in November, and annual house price growth slowed to 1.8%.
Bryden said affordability was the strongest since 2015, and expected property prices to grow gradually next year, supported by steady activity and interest rate cuts by the Bank of England.
The BoE is widely expected to reduce borrowing costs by 25 basis points to 3.75% in December.
Reporting by Suban Abdulla; editing by Sarah Young
A revival in tourism has helped Sri Lanka recover from its debilitating economic crisis, which peaked in 2022, but the extensive damage caused by Cyclone Ditwah has been a setback
International News via Reuters:
November to January are usually the busiest season for Herath Gedara Rohan Anil Kumara’s three-bedroom homestay in Sri Lanka’s hill country, famed for its tea plantations, historic sites and quaint villages.
But after Cyclone Ditwah tore through the island last week, killing nearly 500 people, Kumara now finds himself in a relief centre, uncertain when he can rebuild his business.
His now-damaged house used to earn him more than $30 a night, enough to support his family, but the 37-year-old has been forced to cancel all bookings for December and January.
“I’m still getting inquiries, but we can’t accept them,” Kumara said from the Kithulbedda relief centre, where he moved with his family of six last Friday. “I don’t know when we will be able to rebuild and return to normal.”
His story underscores the vulnerability of small operators who form the backbone of Sri Lanka’s tourism industry, the country’s third-largest foreign exchange earner after remittances and apparel, amounting to 4% of GDP.
WIDESPREAD DAMAGE
A revival in tourism has helped Sri Lanka recover from its debilitating economic crisis, which peaked in 2022, but the extensive damage caused by Cyclone Ditwah has been a setback.
It has affected nearly 10% of Sri Lanka’s 22 million population, damaged or destroyed thousands of houses and killed at least 486, with hundreds still missing.
The cyclone also hit roads, power lines, and telecom networks, alongside significant losses to agriculture.
The Hotels Association of Sri Lanka, however, is hopeful of a fast recovery because cancellations have remained low at about 1%, said association president Asoka Hettigoda.
“Hotels across the island are operational,” he told Reuters. “Even in Kandy and Nuwara Eliya (among the worst-affected areas), tourists are safe and enjoying their stay, though access is still difficult due to blocked roads.”
Tourist arrivals crossed two million by mid-November, and the government hopes to reach 2.6 million by the end of the year, the highest since the COVID-19 pandemic, driven by visitors from India, Russia, Germany, France, and the UK.
STRANDED TOURISTS AIRLIFTED
Authorities have airlifted stranded tourists, waived fees for overstaying visas, and allowed free flight rescheduling. The industry is also pushing for an expanded visa-free programme and launching social media campaigns to reassure travellers. Tour guides have adjusted itineraries to avoid the worst-hit areas.
For Estelle Burgess, a 71-year-old tourist from Australia, the cyclone became just another chapter in her Sri Lankan adventure. She arrived about a week ago and plans to stay for another six days.
“We’re hoping the weather improves so we can enjoy the beach,” Burgess said outside Kandy’s Temple of the Tooth, one of Sri Lanka’s most sacred Buddhist shrines and a UNESCO World Heritage Site.
“Sri Lanka truly is an adventure. You never know what’s going to happen next.”
($1 = 308.6000 Sri Lankan rupees)
Reporting by Uditha Jayasinghe in KandyEditing by Krishna N. Das; Editing by Michael Perry
Visa is relocating its European headquarters to London’s Canary Wharf financial district, the Canary Wharf Group said on Friday.
The firm is leasing 300,000 square feet on a 15-year term at One Canada Square, and is set to relocate from Paddington in the summer of 2028, the group added.
Canary Wharf Group, which runs the wider financial district and is co-owned by QIA and Canada’s Brookfield, was hit hard by the pandemic-induced fall in office demand. The area is now enjoying a rebound as more firms push staff to return to office.
“Canary Wharf continues to attract a diverse range of global businesses. We are delighted to welcome Visa who have chosen the Wharf for their European headquarters as the best location to support their business growth,” Shobi Khan, Canary Wharf Group CEO, said.
JPMorgan Chase last week unveiled a plan to build a tower in the Canary Wharf financial district that will contribute 9.9 billion pounds ($13.2 billion) over six years to the local economy – including the cost of construction – and create 7,800 jobs.
Qatar’s sovereign wealth fund is revising plans for a revamp of its HSBC skyscraper in the east London district to retain more office space, Reuters reported in November.
($1 = 0.7494 pounds)
Reporting by Gursimran Kaur and Rajveer Sigh Pardesi in Bengaluru; Editing by Nivedita Bhattacharjee, Mrigank Dhaniwala and Harikrishnan Nair
The greenback was particularly weak against the yen
International News via Reuters:
The U.S. dollar languished not far from a five-week low against its major peers on Friday as investors braced for a Federal Reserve rate cut next week.
The greenback was particularly weak against the yen, with the Japanese currency buoyed to a nearly three-week high by expectations that the Bank of Japan will resume its rate hike campaign later this month.
Markets widely expect a quarter-point U.S. rate reduction when the policy-setting Federal Open Market Committee meets on December 9-10, and a focus will be on any signals about how much additional easing lies ahead.
The dollar index, which measures the currency against six rivals, fell 0.2% to 98.929 as of 0623 GMT, heading back towards Thursday’s five-week low of 98.765. The index is poised for a 0.6% decline this week.
Traders are pricing around 86% odds of a Fed cut next Wednesday, and potentially 2-3 more reductions next year, LSEG data showed.
Fed officials have been carefully watching the labour market to determine whether the economy needs further support.
Data overnight showed the number of Americans filing new applications for unemployment benefits fell to a more than three-year low last week, but may have been skewed by the Thanksgiving holiday.
The data picture remains incomplete following the record-long government shutdown delayed some releases and prevented other data from ever being collected.
Crucial monthly payrolls figures would ordinarily be published later on Friday, but have been delayed until mid-December, and the previous month’s numbers were never released.
Instead, one of the Fed’s preferred inflation gauges – the PCE deflator – will be published later on Friday, although the data is for September. Economists surveyed by LSEG expect a 0.2% monthly increase in the core number.
“An increase of 0.2% per month or below will encourage the FOMC to cut the Funds rate next week in our view,” Commonwealth Bank of Australia currency strategist Carol Kong wrote in a client note.
“Our analysis suggests the risk is a soft increase in core PCE inflation of only 0.1%.”
The dollar has come under additional pressure in recent days with investors also weighing the prospect of White House economic adviser Kevin Hassett taking over as Fed Chair after Jerome Powell’s term ends in May. Hassett is expected to push for more rate cuts.
The dollar dropped 0.3% to 154.46 yen, the lowest since November 17.
BOJ officials are ready to raise rates on December 19, in the absence of any major economic shocks, Bloomberg reported on Friday, a day after Reuters reported three sources as saying a hike this month was likely.
The euro gained 0.1% to $1.1659, heading back towards Thursday’s three-week high of $1.1682.
Sterling added 0.2% to $1.33505, approaching the previous session’s six-week peak of $1.3385.
Next week sees a parade of central bank policy decisions, with the Reserve Bank of Australia’s coming on Tuesday, the Bank of Canada’s on Wednesday and the Swiss National Bank’s on Thursday.
That continues the following week with the BOJ, European Central Bank, Bank of England, and Sweden’s Riksbank.
The Aussie advanced 0.3% to $0.6626, a more than two-month high.
The Swiss franc gained 0.1% to 0.8026 per dollar after dropping back sharply from Wednesday’s two-week high of 0.7992 in the previous session.
Reporting by Kevin Buckland; Editing by Stephen Coates
The Department of Environment and Natural Resources (DENR) is inviting the public to a free information session at Bermuda College next week in light of the recent discovery of red imported fire ants in Bermuda.
The lecture will take place on Thursday, 11 December, from 6:00 p.m. to 7:00 p.m. in North Hall and will feature visiting fire ant specialist Noel Tawatao of Fera Sciences Ltd. (UK).
Mr Tawatao, who has helped island communities in Montserrat, the British Virgin Islands, and Anguilla respond to fire ant incursions, will speak about identification, risks, control techniques and lessons learned from other jurisdictions.
Seating in the lecture hall will be available on a first-come, first-served basis, with standing room offered once seats are filled.
Mr Tawatao will also be assisting DENR during his visit with field surveys, staff training and technical guidance. His time in Bermuda forms part of the department’s ongoing response effort following the recent confirmation of red imported fire ants.
Dr Geoff Smith, Director of DENR, said the presentation will help equip residents with accurate information. He commented: “Since the confirmation of fire ants in Bermuda, DENR has been moving quickly to assess the situation, manage the threat and ensure that the public is fully informed.
“Mr Tawatao’s regional experience will support our efforts and provide valuable insight for anyone who wants to better understand this issue.”
Minister of Public Works and Environment, the Hon. Jache Adams, JP, MP, encouraged the community to attend: “Fire ants present real risks to our environment, agriculture and public safety.
“I am pleased that DENR has taken swift, proactive steps by bringing in an international expert. I encourage residents to come out, learn more and ask questions so that we can work together to limit the spread of this invasive species.”
Members of the public are reminded that suspected fire ant activity should be reported by sending photographs and location details to fireants@gov.bm. Individuals are advised not to disturb or handle suspected mounds.
The Ministry of Public Works and Environment advises that repair works on Middle Road in Southampton, near Five Star Island, have now been fully completed, and the roadway has returned to normal traffic flow.
After
An emergency single lane closure was implemented in July after routine monitoring identified cracking in the road surface and movement of a roadside fence. Further inspection revealed that the footing of the wall had washed out, and the road was undermined. This prompted the immediate closure in the interest of public safety.
After
Due to the steep sandy hillside and unstable ground conditions, engineers designed and constructed a new cantilever retaining wall supported by in situ concrete pile foundations to secure the area and ensure long-term stability.
Before
Minister of Public Works and Environment Jache Adams said, “Public safety is always the top priority. These works were delayed for a period by the storms in October; however, the contractor and the subcontractors completed the project with diligence and to a very high standard.
Before
“I thank area residents and motorists for their patience during the months of traffic controls. This work will reinforce and secure this section of Middle Road for many years.”
Transport Minister Owen Darrell called on residents to drive safely on the roads during the holidays
Nine lives have been lost to road traffic incidents this year and there is no excuse for driving drive while impaired.
This from Minister of Transport Owen Darrell today, making comments as the Bermuda Road Safety Council stressed the importance of responsible driving, especially over the festive season.
Partygoers are urged to designate a sober driver, keep to the speed limit and make a transportation plan.
Anthony Santucci, Executive Director of anti-drink driving group, CADA, described the efficacy of the designated driver policy across multiple jurisdictions.
Altonio Roberts, Chair of the Bermuda Road Safety Council encouraged all to enjoy the festive season while keeping safety at the forefront of their minds.
Lost Society is gearing up for an event titled ‘Afters’, which will take place on Saturday.
Team member Philip Vandoninck — one of the group’s four founders, told us about what attendees can expect.
He explained that Lost Society’s events continue to grow in size and energy, reflecting Bermuda’s rising interest in electronic music.
Their mission, he says, is to curate experiences that not only celebrate the genre but also bridge the gap between local audiences and the global electronic scene by creating a pathway to bring international talent to the island.
Mr. Vandoninck also hinted at new initiatives planned for the new year, that will aim to elevate Bermuda’s nightlife and expand opportunities for music lovers across the community.
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