The Commission, which acts as the EU competition enforcer, temporarily halted its probe in late July while waiting for the companies to provide requested information
International News via Reuters:
EU antitrust regulators have resumed their investigation into candy maker Mars’ $36 billion bid for Pringles maker Kellanova, setting a December 19 deadline for their decision, according to an update on the European Commission website.
The Commission, which acts as the EU competition enforcer, temporarily halted its probe in late July while waiting for the companies to provide requested information.
It opened a full-scale investigation in June, warning that the deal could lead to price hikes and may boost Mars’ negotiating power with retailers.
The deal, among the biggest in the sector and already cleared unconditionally in the United States, would bring brands from M&Ms, Snickers and Whiskas to Pringles, Pop-Tarts and Kellogg cereals under one roof.
Reporting by Foo Yun Chee; Editing by Kirsten Donovan
Tajer Basden continued his cross country season with the Johnson C. Smith Golden Bulls, as the team competed in the Pfeiffer XC Invitational in North Carolina.
The Golden Bulls finished eighth in the team standings. In the College Men’s 8k race, Basden crossed the line in 78th place, clocking a time of 35:26.4.
The result is an improvement on his time from the previous weekend at the Catawba Fleet Feet XC Invite, where he finished in 38:41.3. Basden is now in his freshman year with the Johnson C. Smith men’s cross country team.
A number of Bermudian players were in action across various leagues and cup competitions in the UK, with several advancing to the next round of their respective tournaments.
Milan Butterfield was back in the starting eleven for Halesowen Town in their FA Cup 2nd Qualifying Round replay against Grimsby Borough. He played a key role in their dominant 6-1 victory, helping set up the fourth goal with a pass that led to a powerful strike from Jason Cowley. The win sees Halesowen Town progress to the next round.
Elsewhere in FA Cup replays, Ne-Jai Tucker’s Southport United also advanced, claiming a 3-1 win over Radcliffe at the Haig Ave Ground. In the National League Cup, Justin Donawa and his Brackley Town teammates secured a victory over Manchester United Under 21s at St James Park.
However, the cup run for J’Nai Butterfield-Steede and Wythenshawe Town FC came to an end as they were knocked out of the Isuzu FA Trophy, falling 2-1 to Bury FC in their First Round match.
In league action, Coolridge Fubler and his Binfield FC teammates played out a thrilling 3-3 draw with Met Police Football Club in the Isthmian Football League. Meanwhile, Roger Lee’s Heanor Town FC suffered a 3-1 defeat to Kimberley MWFC in the United Counties League. Nathan Trott was not in the Cardiff City line-up for their 1-0 Vertu Trophy victory over Exeter City.
Bermuda’s Andre Lambe has officially cemented his status as a major contender in professional boxing, as he now holds the number one welterweight ranking in the American Boxing Organization (ABO).
The undefeated Bermudian achieved this top spot following his victory in Galveston, Texas, in June 2025, where he claimed the ABO North American Welterweight title. His impressive record has also earned him a global ranking of #206 out of over 2,600 welterweight fighters on the respected BoxRec website.
Lambe’s stellar year, which has seen him continue his unbeaten streak, has also put him in consideration for the ABO’s prestigious Boxer of the Year award.
Speaking on his achievements, Lambe said, “It feels incredible to be ranked number one… I’m proud to hold the top spot here in Bermuda as well, and I couldn’t have reached this point without the hard work of my team and myself.”
Looking to the future, Lambe believes his high ranking has positioned him for a potential world title shot, and he is determined to continue representing Bermuda on a global stage.
Bermudian harness driver Kiwon Waldron enjoyed a productive and successful evening at Harrah’s Hoosier Park in Indiana, with a busy five-race schedule that culminated in a return to the winners circle.
The highlight of the night came in Race 10, where Waldron guided Bluebird Fancyswan to a decisive victory in the Trot Class with a time of 1:59.1.
It was a night of consistent performances for the Bermudian. He started in Race 3, steering Cosmo Straight Up to a third-place finish. In Race 7, he finished a strong second with Six Sticks Of Gum.
While his final two races saw sixth-place finishes with Presumptuous and Melissa P, his earlier results, particularly the victory with Bluebird Fancyswan, capped a successful outing on the competitive circuit.
East Timor is one of Southeast Asia’s poorest nations and is dependent on dwindling reserves of oil and gas
International News via Reuters:
East Timor’s lawmakers have agreed to scrap plans to provide lifetime pension allowances for themselves, they said on Wednesday, bowing to pressure from thousands of students who have staged demonstrations against the plans since Monday.
East Timor, commonly known as Timor-Leste, has a population of 1.3 million people living on an island slightly bigger than Qatar. It is one of Southeast Asia’s poorest nations and is dependent on dwindling reserves of oil and gas.
Earlier, more than 1,000 students protested for a third day in front of East Timor’s parliamentary building in the capital Dili, demanding that the government cancel plans to provide lifetime pension allowances for lawmakers.
Parties in the East Timor parliament said they would abolish the plan as an understanding they had struck with the students.
Lawmakers had previously abolished plans to buy 65 cars for themselves, which also triggered anger.
Students had ceased their demonstrations, the parties said.
Protesters this week damaged government buildings, burned tires, and threw rocks at police, leading authorities to fire tear gas at them.
East Timor officially gained independence from Indonesia in 2002 after a landmark ballot overseen by the U.N. in 1999.
Protests over lawmaker allowances and police brutality have also raged across Indonesia since late August.
Reporting by Nelson Da Cruz in Dili; Writing by Ananda Teresia and Stanley Widianto; Editing by Sharon Singleton
Starlink says it operates the world’s largest satellite constellation with more than 8,000 satellites
International News via Reuters:
Russia will soon have a rival to Elon Musk’s satellite internet service Starlink, as it tries to shift away from outdated thinking that has allowed SpaceX to win the crown of satellite dominance, Russia’s space chief said on Wednesday.
Starlink says it operates the world’s largest satellite constellation with more than 8,000 satellites, and Musk is credited by Russian officials with revolutionising the launch of space vehicles – to Russia’s cost.
Dmitry Bakanov, the new 39-year-old head of Russia’s Roscosmos space agency, admitted in an interview with Russian TV host Vladimir Solovyov that the space agency had to move away from “inertia” and attract more young talent.
Russia, he said, was moving ahead on creating an alternative to Starlink, operated by Musk’s SpaceX, which provides internet services via a constellation of low-Earth orbit satellites and is widely used in remote areas and conflict zones.
Starlink is heavily used by Ukrainian forces in the war with Russia.
RUSSIA TESTS ALTERNATIVES TO STARLINK
“Several test vehicles in orbit have already been inspected and the production ones have been modified accordingly,” Bakanov said. “We are also moving at a rapid pace in this direction.”
A Russian aerospace company, known as Bureau 1440, is developing a low Earth orbit satellite system for global broadband data delivery.
Russia, Bakanov said, had learned from its mistakes – including from an episode in 2002 when it dismissed Musk’s attempt in Moscow to buy an intercontinental ballistic missile for space launches.
According to Ashlee Vance’s 2015 biography of Musk, the Russians dismissed Musk in 2002 as if he was simply not credible – spurring Musk to find a way to undercut Russia’s space launch fees.
SOVIET UNION SATELLITE WAS FIRST TO ORBIT EARTH
The Soviet Union spooked the West in the early years of the space race by being first to launch a satellite to orbit the Earth – Sputnik 1, in 1957 – and then Soviet cosmonaut Yuri Gagarin became the first man to travel into space in 1961.
But after the 1991 collapse of the Soviet Union, Russia’s space programme grappled with massive funding shortages, corruption and complaints from young engineers about poor management.
Russia’s ambitions to lead in space exploration suffered a massive blow in August 2023 when its uncrewed Luna-25 mission smashed into the surface of the moon while attempting to land.
Bakanov is the former head of a company called Gonets, which operates a Russian satellite communications system that is much smaller in size and used mainly for government purposes.
Reporting by Reuters; Writing by Anastasia Teterevleva and Gleb Stolaryov; editing by Guy Faulconbridge and Bernadette Baum
With inflation still elevated, interest rates high, and consumer sentiment shaky, UK homebuilders have had to contend with a cooling market and renewed affordability concerns
International News via Reuters:
Britain’s largest homebuilder Barratt Redrow on Wednesday said uncertainties from the UK’s upcoming November 26 budget have added to sales risks for fiscal 2026 in a market already weighed by weak buyer confidence.
With inflation still elevated, interest rates high, and consumer sentiment shaky, UK homebuilders have had to contend with a cooling market and renewed affordability concerns.
Fears of potential hikes to stamp duty in the budget are also adding to the pressure, raising the risk of a deeper slump in new home sales.
“While the housing market remains challenging and we anticipate limited growth in FY26, the long-term fundamentals of the sector remain compelling,” said CEO David Thomas in a statement.
The company, which is reporting annual results for the combined group for the first time since its merger with Redrow last year, reported revenue of 5.58 billion pounds ($7.61 billion) for the year ended June 29 from 4.17 billion pounds a year earlier.
It reported adjusted pre-tax profit and charges of 591.6 million pounds for the period, ahead of market expectations of 515.7 million pounds according LSEG data.
($1 = 0.7334 pounds)
Reporting by Raechel Thankam Job in Bengaluru; Editing by Janane Venkatraman
Wednesday is the final day of campaigning for the referendum
International News via Reuters:
Guinea is set to vote on Sunday in a referendum on a new constitution that would permit junta leader Mamady Doumbouya to run for president, something he vowed not to do when he seized power four years ago.
Wednesday is the final day of campaigning for the referendum, the latest attempt at a political transition in West and Central Africa, where eight coups between 2020 and 2023 reshaped the regional political landscape.
A transition charter adopted after the September 2021 coup said junta members would be barred from standing in the next national and local elections, but the new constitution does not include that language.
Doumbouya has not said what his plans are. His critics have criticised the referendum as a power grab.
Exiled opposition leader Cellou Dalein Diallo on Monday urged Guineans to boycott what he called a “masquerade”.
Diallo’s Union of Democratic Forces party is currently suspended, along with ousted President Alpha Conde’s Rally of the Guinean People, for failure to comply with administrative and financial disclosure requirements imposed by the junta. The parties have not been permitted to campaign against the new constitution.
Human Rights Watch has accused Doumbouya’s government of disappearing political opponents and arbitrarily suspending media outlets. The government has denied any role in disappearances but has vowed to investigate such allegations.
The government missed a December 31, 2024 deadline it set for a return to a civilian administration. The presidential election is currently expected to take place in December.
The new constitution would lengthen the presidential term from five years to seven, renewable once, and create a Senate. The president would directly appoint one-third of senators, with two-thirds selected by municipal and regional councils.
More than 6.7 million voters are registered, and the new constitution would be adopted if more than 50% of those voting approve it.
Ibrahima Camara, a civil servant, has changed his social media avatars to a picture featuring the word “Yes”, signalling his support.
“It’s the most clear-sighted choice,” he said. “We need a vote so Guinea can be governed by a constitution, a first step towards normalising the country.”
But in opposition strongholds, scepticism runs deep.
“I won’t vote because the process isn’t transparent,” said Abdoulaye Diallo, a resident of Hamdallaye, also in Conakry. “You can’t talk about voting in Guinea without the main parties. In the long run, this will create unnecessary tensions.”
Reporting by Guinea newsroom; Writing by Ayen Deng Bior; Editing by Robbie Corey-Boulet and Alex Richardson
Lower trade costs and enhanced productivity could drive substantial increases in trade and GDP by 2040
International News via Reuters:
Artificial intelligence could boost the value of trade in goods and services by nearly 40% by 2040, but without adequate policies it could also exacerbate economic divides, a new World Trade Organization report warned on Wednesday.
Lower trade costs and enhanced productivity could drive substantial increases in trade and GDP by 2040, with global trade projected to rise by 34-37% under various scenarios, according to the WTO’s World Trade Report.
Global GDP could also increase by 12-13%, it said.
“AI could be a bright spot for trade in an increasingly complex trading environment,” said the Deputy Director General of the WTO, Johanna Hill, commenting on the annual report that analyses trends in the multilateral trading system.
Acknowledging current turbulence in the world trading system, Hill noted that AI was reshaping the future of the global economy and international trade, with the potential to reduce trade costs and boost productivity.
Global trade rules, governed by the Geneva-based watchdog, have faced major disruption this year following a slew of tariffs by U.S. President Donald Trump’s administration.
The report highlighted how businesses could reduce costs in logistics, regulatory compliance and communications.
“AI-driven translation technologies can make communication faster and more cost-effective, particularly benefiting small producers and retailers by enabling them to expand into global markets,” the report said.
Such advancements could help increase export growth in low-income countries by as much as 11%, provided they improved their digital infrastructure.
However, the report cautioned that without targeted investment and inclusive policies, AI could deepen existing divides.
“The effects of the development and deployment of AI are raising concerns that many workers, and even entire economies, could be left behind,” the report said.
WTO Director General Ngozi Okonjo-Iweala said policy makers needed to carefully manage the transition to AI.
“AI could upend labor markets, transforming some jobs whilst displacing others. Managing these shifts demands investment in domestic policies to enhance education, skills, retraining and social safety nets,” she said during the launch event for the report in Geneva.
To ensure the benefits of AI were shared widely, predictable trade supported by WTO rules and lower tariffs on raw materials essential for AI technologies, including semiconductors, were crucial, the WTO added.
Reporting by Olivia Le Poidevin. Editing by Alex Richardson and Mark Potter
The Fed is expected to deliver a 25-basis-point rate cut after its two-day policy meeting concludes on Wednesday
International News via Reuters:
European shares inched up on Wednesday, as investors awaited the Federal Reserve’s monetary policy decision and its Chair Jerome Powell’s speech later in the day for clues on the pace of potential future easing.
The pan-European STOXX 600 was 0.1% higher at 551.58 points, as of 0824 GMT, after hitting a one-week low in the previous session as rate-sensitive financial stocks took a hit.
The session’s gains were underpinned by technology stocks, with SAP recovering 4.1% after Jefferies analysts saw scope for shares to regain lost ground on resilient cloud intake and free cash flow outlook. Shares of the company had been falling recently on concerns over slowing cloud growth. It hit an 11-month low on Tuesday.
European stocks have been trading in a tight range so far this month clouded by political turmoil in France and uncertainty regarding the impact of U.S. tariffs on earnings.
The Fed is expected to deliver a 25-basis-point rate cut after its two-day policy meeting concludes on Wednesday, a move largely priced in by markets on signs of a weakening labour market. Investors will also focus on Powell’s comments for clues on the bank’s rate trajectory.
“It’s going to be between two and three (rate cuts) this year,” said Roland Kaloyan, head of European equity strategy, Societe Generale.
“The idea is not to say that the Fed will move from tightening conditions to super easing. I would say when you compare to inflation, it’s more a kind of normalization.”
Expectations of lower U.S. rates have weighed on the dollar, while on the other hand the Euro has rallied more than 10%, a move Kaloyan said could trim export-focused companies’ earnings by around 4%.
Meanwhile, management changes in major European companies were also in the spotlight.
Nestle slipped 0.4% after the Swiss consumer goods giant said that Chairman Paul Bulcke will step down, just weeks following its CEO’s ouster.
In the UK, ice cream unit Ben & Jerry’s co-founder Jerry Greenfield quit the company after a rift with parent Unilever <ULVR.L>. Shares of the company struggled for direction.
Among others, PostNL rose 5% after the Dutch postal operator unveiled its new strategy as part of its Capital Markets Day.
Drugmaker Novo Nordisk rose 2% after Berenberg raised its rating to “buy” from “hold”. UK’s Centrica gained 3.3% after Morgan Stanley called the energy firm a top pick.
ProSiebenSat.1 slid 6.2% after the German broadcaster cut its 2025 forecasts.
Reporting by Tristan Veyet in Gdansk and Johann M Cherian in Bengaluru, editing by Rashmi Aich and Harikrishnan Nair
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