The FAO Food Price Index, which tracks a basket of globally traded food commodities, averaged 126.4 points in October, down from a revised 128.5 in September
International News via Reuters:
World food commodity prices fell for a second consecutive month in October, driven largely by ample global supplies, the United Nations’ Food and Agriculture Organization said on Friday.
The FAO Food Price Index, which tracks a basket of globally traded food commodities, averaged 126.4 points in October, down from a revised 128.5 in September.
The index was down slightly compared to its October 2024 level and stood 21.1% below its March 2022 peak.
It had climbed to a two-year peak in July before stabilising in August and dropping in September thanks largely to sugar price falls.
The FAO’s sugar index fell again in October, dropping 5.3% to its lowest since December 2020, amid strong output in Brazil, anticipated output growth in Thailand and India, and lower crude oil prices.
The dairy price index also fell, slumping 3.4% from September thanks to weaker milk powder quotations and lower butter prices, which dropped due to ample export availability from the European Union and New Zealand.
The meat index eased 2% in October after eight monthly gains, with pig and poultry prices dropping sharply, but bovine prices continuing to head higher thanks to strong global demand.
Vegetable oils rose 0.9%, reaching their highest since July 2022.
In a separate report, the FAO forecast 2025 world cereal production at a record 2.990 billion metric tons, after projecting 2.971 billion tons last month.
The latest outlook was up 4.4% from 2024 output, with all major cereals expected to rise and both maize and rice output set to hit record highs.
Reporting by May Angel. Editing by Kevin Liffey and Mark Potter
They joined Goldman Sachs, which was the first to revise its forecast for a cut next month after the policy announcement on Thursday
International News via Reuters:
Morgan Stanley, Citigroup and UBS Global Research forecast that the Bank of England (BoE) would deliver an interest rate cut in December, they said separately on Friday, a day after the central bank kept rates unchanged at its policy meeting.
They joined Goldman Sachs, which was the first to revise its forecast for a cut next month after the policy announcement on Thursday. All four had previously forecast no rate cut in December.
Britain’s 3.8% inflation rate is above the central bank’s 2% target, but surprisingly held steady in September. The recent labour report has also indicated some signs of cooling.
The BoE’s nine-member Monetary Policy Committee voted 5-4 to hold rates at 4% on Thursday. A shift in remarks on the rate cut outlook followed – to “if progress on disinflation continues, Bank Rate is likely to continue on a gradual downward path” from “gradual and careful approach”.
“What is clearer, we think, is that upcoming decisions are now the Governor’s to make. For the time being, we think he might support a December cut,” said Citigroup analysts.
Governor Andrew Bailey hinted on Thursday that upcoming economic data and the Autumn Budget could pave the way for a cut.
Following the December cut, Citi and Japanese brokerage Nomura forecast the next cut to be in April, while Morgan Stanley expects it in February.
UBS expects the central bank to cut rates in both February and April meetings, while Barclays has put its forecast for future meetings under review.
Traders are betting on a roughly 60% probability for the central bank to cut rates by 25 basis points at its December meeting, as per data compiled by LSEG.
Reporting by Akriti Shah and Siddarth S in Bengaluru; Editing by Harikrishnan Nair
The move follows months of urging by tech giants like Meta and Alphabet, and pressure from the Trump administration, which has warned against measures that could provoke trade tensions
International News via Reuters:
The European Commission is proposing to pause parts of its landmark artificial intelligence (AI) legislation amid intense pressure from big tech companies and the U.S. government, the Financial Times reported on Friday.
The move follows months of urging by tech giants like Meta and Alphabet , and pressure from the Trump administration, which has warned against measures that could provoke trade tensions.
The EU has been “engaging” with the Trump administration on adjustments to the AI act and other digital regulations as part of a wider simplification process, which is due to be adopted on November 19, a senior EU official told the FT.
Reuters could not immediately verify the report. The EU did not immediately respond to Reuters requests for comment.
In July, a spokesperson for the European Commission dismissed calls from some companies and countries for a pause, saying the AI rules would be rolled out according to the legal timeline in the legislation.
Talks were continuing within the commission regarding potential delays to “the implementation of targeted parts of the AI act,” a spokesperson for the EU told the FT. They added that while various options were being considered, the EU remained “fully behind the AI act and its objectives.”
The legislation came into force in August 2024 but many of the provisions are staggered to come into effect in coming years.
Reporting by Abu Sultan in Bengaluru; Editing by Kim Coghill and Kate Mayberry
The typhoon made landfall in central Vietnam late on Thursday, uprooting trees, damaging homes, and triggering power outages, before weakening as it moved inland
International News via Reuters:
At least five people died in Vietnam after Typhoon Kalmaegi pummelled coastal regions with destructive winds and heavy rain, officials said on Friday, following the storm’s deadly passage through the Philippines where it killed at least 188 people.
The typhoon made landfall in central Vietnam late on Thursday, uprooting trees, damaging homes, and triggering power outages, before weakening as it moved inland.
Authorities have warned of more heavy rainfall of up to 200 millimetres (8 inches) in central provinces from Thanh Hoa to Quang Tri, and said rising river levels from Hue to Dak Lak could trigger flooding and landslides.
‘I AM DESPERATE’
In Gia Lai province, which bore the brunt of the typhoon, shrimp farm owner Nguyen Dinh Sa reported catastrophic losses.
“I went to check them every hour yesterday until evening. I had done everything but could not save them,” Sa, 26, said, lamenting the destruction of around six metric tons of shrimp.
“All my investments are gone. I am so desperate at the moment,” he said. Sa’s two-story warehouse, used for storing shrimp feed, was briefly submerged due to seven-meter-high waves and strong winds, leading to an estimated loss of around 1 billion dong ($37,959.31).
The typhoon left a trail of destruction along the coast, toppling trees, scattering shattered glass and roofing sheets, with residents gathering around generators to recharge their phones.
Vietnam’s disaster management agency reported seven injuries and damage to approximately 2,800 homes. Power outages affected about 1.3 million people, it said.
State-run Vietnam News Agency reported damage to railway infrastructure in Quang Ngai province.
The government mobilised over 268,000 soldiers for search-and-rescue operations and issued warnings about potential flooding that could impact agriculture in the Central Highlands, Vietnam’s main coffee-growing region. Traders said on Friday that the rain had subsided and coffee trees remained unharmed.
PHILIPPINES BRACES FOR NEW TYPHOON
In the Philippines, President Ferdinand Marcos Jr. visited evacuation centres on Friday, distributing relief aid and assuring victims of continued government support, after Kalmaegi left 135 people missing and injured 96 others.
“We are very, very sorry,” he told provincial officials.
“Most of the victims were carried away by the rushing waters, the sheer volume and speed of the flash floods.”
Kalmaegi is the 13th typhoon to form in the South China Sea this year. Vietnam and the Philippines are highly vulnerable to tropical storms and typhoons due to their locations along the Pacific typhoon belt, regularly experiencing damage and casualties during peak storm seasons.
Scientists have warned that storms such as Kalmaegi are becoming more powerful as global temperatures rise.
The Philippines’ civil aviation regulator has placed all area centres and airport operations under heightened alert in preparation for another storm, Fung-wong, which is forecast to intensify into a super typhoon before making landfall in the northern Philippines on Sunday evening or early Monday morning.
($1 = 26,344.0000 dong)
Reporting by Thinh Nguyen and Minh Nguyen in Gia Lai, Phuong Nguyen in Hanoi, Karen Lema and Mikhail Flores in Manila; Editing by John Mair
Two other workers had been located under the rubble and were presumed to have died, while two remain missing
International News via Reuters:
A South Korean fire official said on Friday that at least three workers had died after the collapse of a large structure at a power station in South Korea that was being prepared for demolition.
Two other workers had been located under the rubble and were presumed to have died, while two remain missing, the official, Kim Jung-shik, told reporters.
Workers were in the process of taking down parts of the massive steel structure, a decommissioned heating facility, when it collapsed on Thursday afternoon.
Footage from the scene showed the structure mangled and toppled over, surrounded by similar structures.
Rescuers had deployed heat sensors, remote scopes and search dogs to assist the rescue operation and locate the other trapped workers, though their efforts have been hampered by the risk of a further collapse of the structure, Kim said.
South Korean President Lee Jae Myung, who has made it a priority to improve workplace safety, has ordered an all-out effort to save the workers who remain trapped.
Reporting by Jack Kim and Joyce LeeEditing by Ed Davies
Lindsay Sandiford was sentenced in 2013 after she was found with 4.8 kg (10.6 lb) of cocaine, estimated to be worth more than $2 million, hidden in the lining of her suitcase
International News via Reuters:
A 69-year-old British woman who was on death row in Indonesia on drug offences departed the country early on Friday after Jakarta and London reached a deal to repatriate her and another prisoner on humanitarian grounds.
Lindsay Sandiford was sentenced in 2013 after she was found with 4.8 kg (10.6 lb) of cocaine, estimated to be worth more than $2 million, hidden in the lining of her suitcase when she arrived on the holiday island of Bali from Bangkok.
A second British national who was serving a life sentence for drug offences, Shahab Shahabadi, was repatriated with Sandiford.
The plane taking them to London left Bali at around 12:30 a.m. on Friday, said I Nyoman Gede Surya Mataram, an Indonesian government official.
Last month, Yusril Ihza Mahendra, a senior Indonesian minister for legal affairs, said the two countries had agreed to repatriate Sandiford as she was old and unwell, and she would complete her sentence in Britain.
At a press conference in Bali’s Kerobokan prison hours before the repatriation flight departed, Britain’s deputy ambassador Matthew Downing said Sandiford would be “governed by the law and procedures of the UK”, but said he would not speculate about any legal processes she might face.
Sandiford attended the press conference in a wheelchair, but did not speak and covered her face with her hands.
Downing said the agreement with Jakarta is reciprocal and that the Southeast Asian country can request the return of Indonesians in Britain, though no request had been made so far.
In the past year, Indonesia has released some other foreigners on death row, including five Australians, a French man and a Filipino woman.
Reporting by Sultan Anshori and Johannes P. Christo in Bali; Writing by Stanley Widianto; Editing by John Mair
The dollar started a five-day winning streak last week after Federal Reserve Chair Jerome Powell acknowledged the risky nature of making further easing moves
International News via Reuters:
The U.S. dollar was on track for a modest weekly gain as investors sought to balance the impact of the Federal Reserve’s hawkish tilt against lingering concerns over the U.S. economy.
The dollar started a five-day winning streak last week after Federal Reserve Chair Jerome Powell acknowledged the risky nature of making further easing moves but dropped sharply on Thursday on soft labour data.
U.S. Treasury yields also fell on concerns over economic uncertainty caused by the government shutdown in Washington and questions over the legality of President Donald Trump’s tariffs.
“With the December Fed meeting more or less a coin toss which crucially depends on labour market picture, market is overreacting to any hints about the labour market,” said Mohit Kumar, an economist at Jefferies, noting the lack of economic data as the government shutdown continues.
“Our view remains that Powell comments from the last FOMC meeting suggest that the bar for a December cut is high,” he added.
With the U.S. government shutdown postponing the release of the monthly non-farm payrolls report, traders have turned to private sector data showing the economy shed jobs in October in the government and retail sectors. Cost-cutting and the adoption of artificial intelligence also led to a surge in layoffs.
Barclays forecast earlier this week a 60% chance that the U.S. government shutdown – the longest in U.S. history – would end between November 11 and 21, while assigning a 15% probability that it could extend into December.
The dollar index, which measures the currency’s strength against a basket of six peers, appreciated 0.14% to 99.81 and was on track for a 0.08% weekly rise. It has recovered some strength but remained lodged within the same trading range it has sat in since August.
A rush into safe-haven assets earlier this week supported the U.S. dollar, which has regained some of its safe-haven appeal, analysts said, even as the Japanese yen emerged as the market’s preferred defensive play.
Tech-heavy stock markets were heading for their biggest weekly falls in seven months.
Traders ramped up bets on a rate cut even as Chicago Federal Reserve President Austan Goolsbee said on Thursday the lack of official data on inflation during the government shutdown “accentuates” his caution about cutting interest rates further. “When it’s foggy, let’s just be a little careful and slow down,” he told CNBC.
Trading in Fed funds futures implies a 65% chance of a cut at the U.S. central bank’s next meeting on December 10, according to the CME Group’s FedWatch tool.
The euro fell 0.1% against the dollar to $1.1535, outperforming other European currencies such as sterling and the Swiss franc.
Chinese exports unexpectedly fell in October, marking their steepest decline since February, after months of frontloading U.S. orders to beat U.S. tariffs on imported goods.
The data suggests Beijing may have struggled to diversify exports away from the U.S., a trend that could stoke fears of mounting Chinese pressure on European markets.
The euro is drawing support from expectations of a steady policy rate, while both the U.S. and UK are seen cutting rates further in 2026.
The dollar rose 0.23% against the yen to 153.41, after hitting 152.82 earlier in the session, its lowest level since October 30.
The Australian dollar was flat at $0.6480, while the kiwi fell 0.4% to $0.5609.
Reporting by Stefano Rebaudo; additional reporting by Gregor Stuart Hunter; Editing by Sam Holmes and Emelia Sithole-Matarise
House prices increased by 0.6% in monthly terms in October after a 0.3% fall in September to reach a new record of 299,862 pounds ($402,444.79)
International News via Reuters:
British house prices last month rose at the fastest pace since January, data from mortgage lender Halifax showed on Friday, adding to signs of demand in the property sector ahead of finance minister Rachel Reeves’ budget on November 26.
House prices increased by 0.6% in monthly terms in October after a 0.3% fall in September to reach a new record of 299,862 pounds ($402,444.79) – well above a 0.1% rise predicted by economists in a Reuters poll and the biggest rise since January.
Halifax said house prices were 1.9% higher than a year earlier, above the 1.5% forecast in the poll, and compared with an annual increase of 1.3% in September.
But, Amanda Bryden, head of mortgages at Halifax, warned that affordability challenges for buyers remain.
“Demand from buyers has held up well coming into autumn, despite a degree of uncertainty in the market, with the number of new mortgages being approved recently hitting its highest level so far this year,” Bryden said.
“There is no doubt that affordability remains a challenge for many.”
The increase in British property prices has been slower this year than in the second half of 2024 as concerns about the economy and the prospect of additional taxes on homes as Reeves readies her budget.
“This provides further encouragement that the housing market has weathered the prospect of tax rises in the budget better than it first appeared. What’s more, house prices may get a further boost from lower mortgage rates in the coming months,” Ashley Webb, UK economist at Capital Economics, said.
On Thursday, the Bank of England kept interest rates at 4%, but a close vote and signs that Governor Andrew Bailey might soon join those seeking a rate cut boosted the prospect of a cut in December.
Halifax said house prices in London fell by 0.3% from 12 months earlier while the strongest growth was reported in Northern Ireland where prices rose by 8%, Halifax said.
Data from rival mortgage lender Nationwide published last week showed that prices rose by 0.3% in October, pushing annual house price inflation up to 2.4%.
($1 = 0.7451 pounds)
Reporting by Suban Abdulla; editing by Sarah Young
The U.S. has alleged, without presenting evidence, the boats it bombed were transporting drugs
A boat burns off the coast of Venezuela in this screen grab taken from a video released October 14, 2025, depicting what U.S. President Donald Trump said on a post on Truth Social was a U.S. strike on a suspected drug-trafficking boat. Donald Trump via Truth Social/via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES. Verification: -Reuters checked the footage through our AI detection tool and found no evidence of manipulation. However, the footage is partly blurred, making it impossible to confirm if the video is manipulated.
International News via Reuters:
The U.S. has reported carrying out 13 strikes since September on vessels near the Venezuelan coast and more recently, in the eastern Pacific Ocean, killing more than 60 people, according to the U.S. secretary of defense, as it escalates a military buildup in the Caribbean Sea.
The U.S. has alleged, without presenting evidence, the boats it bombed were transporting drugs, but foreign leaders, some members of Congress, legal experts and family members of the deceased have called for proof.
The United Nations human rights chief has called U.S. strikes on alleged drug dealers off the coast of South America “unacceptable” and a violation of international human rights law, and Venezuela says they are illegal, amount to murder and are aggression against the sovereign South American country.
Venezuelan President Nicolas Maduro has accused Donald Trump of seeking regime change, an allegation the U.S. president has downplayed, despite reports of the administration’s close contact with Venezuela’s opposition.
In September, the U.S. built up its military presence in the Caribbean – including a nuclear submarine and a group of warships accompanying the world’s largest aircraft carrier – prompting Maduro to shore up security powers and deploy tens of thousands of troops around the country.
The U.S. has described some of the victims of the strikes as Venezuelans, while Colombian President Gustavo Petro has said others were his countrymen. Family members of a Trinidadian man believed killed in a strike have demanded proof he was a drug trafficker.
Here is a list of U.S. strikes:
SEPTEMBER 2 – 11 people were killed in a strike on a vessel allegedly carrying illegal drugs from Venezuela, Trump said. This is the first known operation since his administration deployed warships to the southern Caribbean.
The Venezuelan government later denied any of the 11 victims were members of the Tren de Aragua gang cited by Trump.
SEPTEMBER 15 – Three men were killed in a strike on another alleged Venezuelan drug vessel while in international waters, Trump said, adding it was heading to the U.S. He provided no evidence that the boat was carrying drugs.
SEPTEMBER 19 – Three men were killed in another attack on a vessel allegedly carrying drugs, Trump said.
OCTOBER 3 – Four people were killed in a strike against another vessel allegedly carrying drugs, just off the Venezuelan coast, U.S. Defense Secretary Pete Hegseth said.
OCTOBER 14 – Six people were killed in another strike off Venezuela’s coast, Trump said, alleging they were drug traffickers.
OCTOBER 16 – Two people were killed in another strike in the Caribbean. This marked the first case with survivors, a Colombian and an Ecuadorean, who were swiftly returned to their home countries.
Colombia said its national would be “processed according to the law.” Ecuador said it has no evidence to detain its citizen and he has been released.
OCTOBER 17 – Three people were killed in a strike. Colombian President Gustavo Petro disputed Hegseth’s claim the boat belonged to the National Liberation Army (ELN) rebels, saying it was the property of a “humble family.” The ELN has also rejected Hegseth’s claim.
OCTOBER 21 – Five people were killed in strikes against two vessels in the eastern Pacific, Hegseth said, alleging they were drug smugglers. The strike was the first known U.S. military operation in the Pacific since Trump’s administration kicked off its new anti-drug campaign.
OCTOBER 24 – Six people were killed in the Caribbean, Hegseth said, alleging the vessel was operated by the Tren de Aragua gang.
OCTOBER 27 – Fourteen people were killed in three U.S. strikes against vessels the U.S. alleged transporting drugs in the eastern Pacific, which left one survivor. Mexican authorities took over the search-and-rescue operation for the lone survivor, Hegseth said.
Four days later, Mexico’s Navy said it was suspending the search operation.
OCTOBER 29 – Four men were killed in a strike in the Eastern Pacific, Hegseth said, alleging it was a drug vessel.
NOVEMBER 1 – Three men were killed aboard a vessel in the Caribbean, Hegseth said, saying it was operated by a drug trafficking organization.
NOVEMBER 4- Two men were killed in international waters in the Eastern Pacific, in what Hegseth said was a suspected drug trafficking vessel.
Reporting by Michelle Nichols, Julia Symmes Cobb, Idrees Ali and Natalia Siniawski; Editing by Alistair Bell and Marguerita Choy and Aurora Ellis
Fifty-five percent of hedge funds hold some crypto-related assets, up from 47% the year before, with funds allocating on average 7% of their holdings to crypto
International News via Reuters:
Global hedge funds’ exposure to crypto markets is increasing, and more than half are now invested in the sector, with the U.S. government’s embrace of digital assets boosting interest, according to an industry report published on Thursday.
Fifty-five percent of hedge funds hold some crypto-related assets, up from 47% the year before, with funds allocating on average 7% of their holdings to crypto, a survey of 122 investors and fund managers by the Alternative Investment Management Association (AIMA) in the first six months of 2025 found.
The investments are relatively small. More than half of the hedge funds with crypto are investing less than 2% of their assets in it, the report by AIMA and PwC said.
Cryptocurrency prices have risen in 2025 with bitcoin hitting a series of record highs, boosted by U.S. President Donald Trump’s support for the industry and his administration’s push for crypto-friendly regulations.
Regulators around the world have warned about risks to financial stability, as crypto becomes more connected to mainstream finance.
“The past year has marked a turning point for US crypto regulation,” the report said.
“The US may finally be laying the groundwork for long-term regulatory stability.”
Funds that are already invested in crypto say they are planning to buy more in the next 12 months. A majority (67%) are investing via crypto derivatives, which allow them to take a position on cryptocurrency price movements without holding the underlying assets.
These derivatives can introduce market risks, the report said, citing a flash crash in October which it said “exposed vulnerabilities related to excessive leverage and a lack of institutional-grade infrastructure.”
The funds surveyed by AIMA are responsible for investing around $982 billion of assets, the report said.
There has been an influx of new money into hedge funds, with capital hitting a record high of nearly $5 trillion in the third quarter of 2025.
Reporting by Elizabeth Howcroft; Editing by Tommy Reggiori Wilkes and Hugh Lawson
Forensic tests confirmed that teenager Victor Manuel Ubaldo carried out the execution
International News via Reuters:
A 17-year-old boy has been confirmed as the perpetrator of the deadly shooting of Carlos Manzo, mayor of the Mexican city of Uruapan, during a public event in the state of Michoacan over the weekend, the state prosecutor’s office said on Thursday.
Forensic tests confirmed that teenager Victor Manuel Ubaldo, who died after being gunned down by security forces at the scene in an attempt to repel the attack against Manzo, carried out the execution. Ubaldo was identified by his relatives on Wednesday.
The Michoacan state prosecutor’s office said additional individuals were involved in the incident.
“It is important to reiterate that the forensic examinations performed on Victor Manuel’s body, in particular the sodium rhodizonate test, were positive, confirming the hypothesis of material authorship,” prosecutor Carlos Torres said in a message to the press, adding that the homicide is likely linked to organized crime groups.
The same tests, Torres added, revealed that the young man frequently consumed methamphetamine.
His relatives confirmed Ubaldo left home a week before the attack, he added.
Experts told Reuters that criminal groups in Mexico increasingly train and use minors, generally from violent and neglected homes, to commit crimes.
A government report on recruitment by drug cartels published last year said minors as young as six have joined organized crime and highlighted the use of video games and social media to target them.
Human rights advocates say the number of vulnerable children in Mexico who are susceptible to recruitment by criminal organizations could reach 200,000.
Reporting by Lizbeth Diaz; Editing by Daniel Wallis
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