2026-01-25 01:58

NUUK, Jan 25 (Reuters) - Greenland's capital restored power early on Sunday after a storm damaged a transmission cable and left thousands without electricity and heating through the cold winter night. Electricity suddenly cut off across Nuuk late on Saturday, witnesses said. Sign up here. The Nukissiorfiit utility - which supplies Nuuk from the Buksefjord hydropower plant southeast of the capital - said power came back online around 4:30 a.m. (0630 GMT). Greenlanders are used to outages, often caused by harsh weather damaging the cable which runs through rugged terrain and spans two fjords. Three days before the power cut, the government updated recommendations for crisis preparedness - including advice for people to keep five days' worth of water and food - in the wake of tensions over U.S. President Donald Trump'sdemands to acquire the Danish territory. https://www.reuters.com/world/greenlands-capital-nuuk-sees-city-wide-power-outage-due-accident-2026-01-25/

2026-01-24 23:59

Japan bonds, yen selling off on Takaichi's expansionary policy PM vows in election campaign to suspend sales tax on food Takaichi responding to intervention chatter, Bessent comments on yields Some parties see scope to tap FX reserves, BOJ's ETF holdings Ruling coalition officials cautious of this idea TOKYO, Jan 25 (Reuters) - Japanese Prime Minister Sanae Takaichi said on Sunday her government will take necessary steps against speculative market moves, in the wake of a yen spike that heightened traders' alert over the chance of currency intervention. Japanese government bonds and the yen have sold off in recent weeks on concern Takaichi's expansionary fiscal policy and the slow pace of interest rate hikes by the Bank of Japan could lead to additional debt issuance and too-high inflation. Sign up here. After sliding near the psychologically important line of 160 to the dollar, the yen jumped suddenly on Friday after the New York Federal Reserve conducted rate checks, a move some traders saw as heightening the chance of joint U.S.-Japan intervention to halt the ailing currency's slide. WEAK YEN, BOND ROUT A HEADACHE FOR TAKAICHI, BOJ "I won't comment on specific market moves," Takaichi told a Fuji Television talk show, when asked about the bond selloff and the yen's declines. "The government will take necessary steps against speculative or very abnormal market moves," she said without elaborating. A weak yen has become a source of headaches for Japanese policymakers as it pushes up import costs and broader inflation, hurting households' purchasing power. Takaichi has compiled a big spending package to cushion the blow from rising living costs and vowed to suspend for two years the 8% sales tax on food, triggering a spike in bond yields that increases the cost of funding Japan's huge public debt. In the television programme, she said her government will aim to start the two-year tax suspension sometime during the fiscal year beginning in April. Takaichi has been under pressure to deal with the bond market rout, which has accelerated with her decision to call a snap election on February 8 to seek a mandate to gear up her expansionary fiscal policies. U.S. Treasury Secretary Scott Bessent signalled Washington's displeasure over the repercussions from the rising Japanese yields, saying last week that it was "very hard to disaggregate the market reaction from what's going on endogenously in Japan." "I've been in touch with my economic counterparts in Japan, and I am sure that they will begin saying the things that will calm the market down," Bessent said at the World Economic Forum in Davos. Since then, Takaichi has stressed that Japan can secure enough funds for the tax suspension without issuing debt. OPPOSITION PROPOSES USING BOJ FUNDS TO PAY FOR TAX CUT BOJ Governor Kazuo Ueda on Friday signalled the central bank's readiness to work closely with the government to contain sharp rises in yields, including by conducting emergency bond-buying operations. The market moves are emerging as a key topic of debate in the election. While most parties are calling for a cut to the consumption tax, several opposition parties have proposed investing the BOJ's holdings of exchange-traded funds and government reserves set aside for currency intervention, and using the proceeds to fund a consumption tax cut. The BOJ could speed up the selling of ETFs so that the proceeds can be used more quickly to fund government spending, Makoto Hamaguchi, a senior official of the opposition Democratic Party for the People, told a Sunday talk show on public broadcaster NHK. Takaichi's ruling coalition appears cautious of the idea. "Using reserves set aside for currency intervention would require selling U.S. Treasuries," Takayuki Kobayashi, a senior official of Takaichi's Liberal Democratic Party (LDP), told the NHK programme. "That could affect markets and cause a lot of problems." Alex Saito, a senior official in the LDP's coalition partner, the Japan Innovation Party, known as Ishin, pointed to problems that could emerge by tapping the BOJ's ETF holdings to fund a tax cut. "Tapping BOJ assets risks undermining the central bank's independence, and would be a dangerous step that could further weaken the yen and push up long-term interest rates," Saito told NHK. In September, the BOJ decided on a plan to sell its huge ETF holdings, accumulated during its decade-long stimulus programme, at an annual pace of 330 billion yen ($2.1 billion). ($1 = 155.7100 yen) https://www.reuters.com/world/asia-pacific/japan-pm-vows-act-against-speculative-market-moves-wake-yen-spike-2026-01-24/

2026-01-24 22:36

One-million-plus customers lose power across 8 Southern states Federal emergency declarations approved in at least 12 states More than 10,000 U.S. airline flight cancellations reported Sub-zero cold extends from Plains to New England WASHINGTON, Jan 25 (Reuters) - A powerful U.S. winter storm spread a paralyzing mix of heavy snow, sleet and freezing rain from the Ohio Valley and mid-South to New England on Sunday, compounded by bitter, Arctic cold gripping much of the nation east of the Rockies. Winter storm warnings were posted for most of the eastern third of the United States covering 118 million people, as the deep freeze strained energy supplies in some areas, and the National Weather Service predicted widespread, prolonged travel disruptions. Sign up here. An estimated 157 million Americans were warned to bundle up against cold ranging from sub-zero temperatures along the Canadian border to below-freezing as far south as the Gulf of Mexico. The Arctic blast was accompanied by gusty conditions that sent wind-chill conditions — a measure of how cold it feels based on the rate of heat loss from the body — plunging as low as minus 50 degrees Fahrenheit in the northern Plains. DEEP SNOW, THICK ICE Some of the heaviest snowfall, up to a foot or more since the storm developed on Friday, was measured on Sunday in parts of Colorado, Illinois, Indiana, Missouri, New Jersey, New York and Pennsylvania. New York Governor Kathy Hochul said she had mobilized National Guard troops in New York City, Long Island and the Hudson Valley to assist with the state's emergency storm response. The onslaught of snow, ice and winds hit air travel especially hard, with major carriers forced to cancel more than 11,000 U.S. flights scheduled for Sunday, according to an industry tracking service FlightAware.com. Ronald Reagan National Airport, located in northern Virginia just across the Potomac River from Washington, was effectively closed altogether. Airports serving other major metropolitan areas, including New York, Philadelphia and Charlotte, North Carolina, had at least 80% of their Sunday flights canceled, FlightAware data showed. Power outages were widespread across the South, where freezing rain deposited layers of ice up to an inch thick, toppling tree limbs and transmission lines. More than 1 million homes and businesses in eight states from Texas to the Carolinas were without electricity at the height of the storm on Sunday, according to utility data posted online. Tennessee bore the greatest brunt of energy cuts, accounting for about a third of all the outages. More than 959,000 electricity customers remained without power as of 7:05 p.m. EST (0005 GMT), according to PowerOutage.us. FEDERAL, STATE GOVERNMENTS DECLARE EMERGENCIES In parts of the mid-Atlantic, heavy snow early in the day gave way to sleet and freezing rain, adding to treacherous driving conditions and making it more difficult for street crews to safely clear road surfaces. Heavy ice was reported by the weather service to be accumulating across the interior sections of the Eastern seaboard as far south as Atlanta, as the low-pressure system driving the storm moved through the Appalachian Mountains. Calling the storm "historic," President Donald Trump on Saturday approved federal emergency disaster declarations for a dozen states, mostly in the mid-South. Seventeen states and the District of Columbia declared weather emergencies on Saturday. The Department of Energy on Saturday issued an emergency order authorizing the Electric Reliability Council of Texas to deploy backup generation resources at data centers and other major facilities, aiming to limit blackouts in the state. On Sunday, the DOE issued an emergency order to authorize grid operator PJM Interconnection to run "specified resources" in the mid-Atlantic region, regardless of limits due to state laws or environmental permits. While the storm system was expected to drift away from the East Coast into the Atlantic on Monday, more Arctic air was forecast to rush in behind it, prolonging bitter cold, icy conditions over the next few days, the weather service said. "The situation with this storm is pretty unique, just because it's going to stay cold for a period of time," Homeland Security Secretary Kristi Noem said on the "Fox News Sunday Briefing" program. "This ice that has fallen will keep those (power) lines heavy, even if they haven't gone down immediately." https://www.reuters.com/business/environment/thousands-flights-canceled-ahead-us-winter-storm-2026-01-24/

2026-01-24 15:41

SANTIAGO, Jan 24 (Reuters) - The union at Capstone Copper's (CS.TO) , opens new tab Mantoverde copper and gold mine in northern Chile on Saturday denied a company claim that it was still occupying a desalination plant at the facility, saying the allegation was an excuse to avoid talks. Workers have been on strike at the mine since January 2 after talks over new labour contracts broke down. Sign up here. The union representing 645 workers said in a statement that government officials had called a mediation meeting on Friday, but the company declined to attend unless union members first halted what it described as forceful actions. The union said a small group of its members had obstructed the entry of company personnel and on Thursday took over the desalination plant that provides water for the mine, but that they had since stopped those actions. All staff who normally work at the plant could access the facility, the union added. It also said in its statement that it "rejected the company's false account that a 'mob' had entered the plant, causing significant damage that left it inoperable". "The company’s management is harming the interests of its own owners by failing to restart plant operations, all in order to sustain a narrative that criminalizes the strike." Capstone Copper said in a statement to Reuters on Saturday that it maintained its position that "the minimum conditions for talks do not exist". The labor dispute comes at a time when markets are highly sensitive to any signs of tighter copper supply, with prices at record highs amid expectations of strong future demand. Mantoverde is 70% owned by Capstone and 30% by Mitsubishi Materials (5711.T) , opens new tab. The mine was forecast to produce between 29,000 and 32,000 metric tons of copper cathode in 2025. The operation accounts for about 0.4% of global copper output. https://www.reuters.com/sustainability/sustainable-finance-reporting/union-chiles-mantoverde-mine-says-company-avoiding-talks-end-strike-2026-01-24/

2026-01-24 14:41

Jan 24 (Reuters) - The United States is in talks with Chevron (CVX.N) , opens new tab, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela's crude production, Bloomberg News reported on Saturday, citing senior administration officials. Officials have discussed deploying SLB (SLB.N) , opens new tab, Halliburton (HAL.N) , opens new tab and Baker Hughes (BKR.O) , opens new tab to repair and replace outdated equipment, and refresh older drilling sites, the report said. Sign up here. Reuters could not immediately verify the report. The White House, Chevron, SLB, Baker Hughes and Halliburton did not immediately respond to Reuters' requests for comment. With limited investment, Venezuela could boost production by several hundred thousand barrels over the short term, the report said, adding that modern U.S. equipment and techniques could revitalise existing wells and bring new production online within months. U.S. President Donald Trump said on Friday that U.S. oil companies will soon start drilling for oil in Venezuela. Trump has been clear about his desire to boost oil production in Venezuela following the capture of the country's leader, Nicolas Maduro. https://www.reuters.com/business/energy/us-seeks-quick-repairs-lift-venezuela-oil-output-bloomberg-news-reports-2026-01-24/

2026-01-24 14:01

SANTIAGO, Jan 24 (Reuters) - Striking contract workers employed by machinery contractor Finning resumed on Saturday a blockade of the access road to Chile's Escondida and Zaldivar copper mines, according to industry sources. Police had cleared the protest late on Friday, but a group of demonstrators returned to block the so‑called "mining route," delaying the transport of both supplies and personnel between the operations and the northern city of Antofagasta. Sign up here. Members of Union No. 2 at Finning (FTT.TO) , opens new tab, which provides services to various mining companies, have been on strike since the beginning of the month and have launched intermittent blocks in the La Negra industrial sector and on the road leading to BHP's Escondida mine and Antofagasta Minerals' (ANTO.L) , opens new tab Zaldivar mine. BHP (BHP.AX) , opens new tab said the day before that the protest was causing delays in shift changes as well as in vehicle traffic. The company did not immediately respond on Saturday to a request for comment. https://www.reuters.com/sustainability/sustainable-finance-reporting/access-road-chiles-escondida-zaldivar-mines-remains-blocked-amid-contractor-2026-01-24/