2025-11-05 12:21

LONDON, Nov 5 (Reuters) - Chevron (CVX.N) , opens new tab is nearing a final investment decision for a potential capacity expansion of the Leviathan gas field off Israel's Mediterranean coast, it said on Wednesday. In August, partners in the Leviathan natural gas field signed the largest export agreement in Israel's history, worth up to $35 billion, to supply gas to Egypt, mainly via new pipelines, Chevron's partner in the field NewMed said. Sign up here. The deal would ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its own supplies fell short of demand. Under the expansion, Leviathan, which has reserves of some 600 billion cubic metres, will sell about 130 bcm of gas to Egypt through 2040, or until all of the contract quantities are fulfilled. Leviathan's expansion, which would cost around $2.4 billion, should allow for production and supplies within Israel and to its neighbours through 2064, NewMed said. Chevron holds 40% of Leviathan and is the field's operator. Tel Aviv-listed NewMed (NWMDp.TA) , opens new tab holds around 45% of the project, and Ratio 15%. https://www.reuters.com/business/energy/chevron-nears-final-green-light-expansion-israeli-leviathan-gas-field-2025-11-05/

2025-11-05 11:48

PARIS, Nov 5 (Reuters) - Ireland reported an outbreak of highly pathogenic H5N1 bird flu on a turkey farm in the eastern part of the country, the World Organisation for Animal Health (WOAH) said on Wednesday, as Europe faces a swift seasonal upturn in the deadly disease. The spread of avian influenza, commonly called bird flu, has raised concerns among governments and the poultry industry after it ravaged flocks around the world in recent years, disrupting supply, fuelling higher food prices and raising the risk of human transmission. Sign up here. The H5N1 virus was detected in a turkey flock with 3,240 birds in the town of Carlow, causing the death of 3,130 of them, the Paris-based WOAH said, citing a report from the Irish authorities. The remaining ones were subsequently culled as a precaution. https://www.reuters.com/business/healthcare-pharmaceuticals/ireland-reported-bird-flu-outbreak-turkey-farm-woah-says-2025-11-05/

2025-11-05 11:44

Nov 5 - What matters in U.S. and global markets today By Mike Dolan , opens new tab, Editor-At-Large, Finance and Markets Sign up here. A rare shakeout in Big Tech and chip stocks on Tuesday rippled around world bourses overnight. The fact that it came with few triggers other than growing unease at sky-high valuations , opens new tab left investors wondering if a more prolonged pullback is in store. The backdrop to Wall Street's worst day in almost a month, which saw both the S&P500 and Nasdaq shed more than 1%, was a surprisingly positive showing for Democrats in local mayoral and state governor elections and today's start to the Supreme Court hearings on the legality of President Donald Trump's tariffs. But neither was directly responsible for the wobble in the market that was unnerved by predictions of an inevitable correction and an earnings-day flub from AI and defense outlier Palantir - a stock that's doubled again this year in the tech frenzy and is trading about 230 times forward earnings. "Big Short" investor Michael Burry, known for his successful bets against the U.S. housing market in 2008, has now placed bearish bets on Nvidia and Palantir, according to a regulatory filing on Monday. Much like Palantir's 8% swoon the previous night, Advanced Micro Devices - whose stock price has also doubled this year - seemed to deliver a decent set of results after Tuesday's bell but the market reaction saw its shares drop 3% out of hours. Another AI darling, Super Micro Computer, was less of a puzzle as its shares plunged 9% on profit and revenue misses. Qualcomm tops the earnings diary later, with Costco eyed for an update on retail activity. And there has been no bounce in U.S. stock index futures overnight, with tech-heavy bourses in Japan and South Korea both losing more than 2% each on Wednesday and European indexes down about 0.5% earlier. Eyes will be on ADP's take on U.S. private sector payrolls for last month later on Wednesday to give a reality check on some hesitation among Federal Reserve officials about further policy easing. U.S. Treasury yields have clawed back overnight declines ahead of that release, a rare glimpse of the jobs market in the data outage that's accompanying what's now the longest government shutdown on record. Tentative moves to end the hiatus this week saw no breakthrough. The dollar index kept nudging higher, hitting its best level since May. The Korean won hit its lowest in seven months as the KOSPI stock index logged its worst day since August 1, even though it recouped some of its worst losses of more than 5% at one point. Caught up in the wave of risk aversion and tech selling, Bitcoin plunged too and struggled to regain a toehold above $100,000 on Wednesday after dipping below that level briefly for the first time since June. Elsewhere, China stocks outperformed as the Chinese government issued guidance requiring new data center projects that have received any state funds to only use domestically-made artificial intelligence chips. Sterling recovered some ground after the UK finance minister Rachel Reeves on Tuesday flagged likely tax rises later this month - something that's buoyed bets on another Bank of England interest rate cut as soon as Thursday. The euro was on the back foot despite European business surveys showing the fastest expansion of the region's economy in October in more than two years. The latest U.S. election results, meantime, leave some investors mulling next year's more impactful midterm congressional poll. While betting markets such as Polymarket still see a Democrat House majority and a Republican Senate as the most likely outcome in a year's time, the chances of a Democrat sweep of both chambers jumped 10 points to 35% overnight. Today's Market Minute Chart of the day With investors' minds shifting back to electoral math ahead of next year's U.S. midterm elections, voters' number one concern remains the cost of living. Today's events to watch * U.S. October ADP private sector payrolls (8:15 AM EDT) ISM October service sector survey (10:00 AM EDT) * New York Federal Reserve releases Q3 Household Debt and Credit Report * U.S. Supreme Court hears arguments on the legality of much of President Trump's import tariffs * Bank of Canada Governor Tiff Macklem speaks in parliament; Bank of England Deputy Governor Sarah Breeden speaks * U.S. corporate earnings: Qualcomm, Costco, MetLife, Albemarle, Ameren, Robinhood, Paycom, Amcor, Emerson Electric, Atmos Energy, Devon Energy, Texas Pacific, Cencora, Targa, Zimmer Biomet, Humana, Bio-Techne, Bunge, Johnson Controls, Allstate, STERIS, Fortinet, DoorDash, Corpay, Fair Isaac, Host Hotels, CF Industries, APA, PTC, TKO, PPL, Applovin, Charles River, Iron Mountain, Trimble, * French President Emmanuel Macron visits Brazil and Mexico Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website , opens new tab, and you can follow us on LinkedIn , opens new tab and X. , opens new tab Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. https://www.reuters.com/business/finance/global-markets-view-usa-2025-11-05/

2025-11-05 11:16

Bunge's Q3 profit lowest since 2019 despite beating estimates CEO Heckman cites policy flux affecting future outlook South American exports lift soybean segment Nov 5 (Reuters) - Bunge Global (BG.N) , opens new tab topped Wall Street estimates for third-quarter adjusted profit on Wednesday with the closing of its acquisition of Viterra in July boosting volumes as oilseed processing margins improved, sending shares up 4.7%. Strong South American soybean exports lifted results in Bunge's soybean processing and refining segment after bumper harvests in Argentina and Brazil and as top soy importer China shunned U.S. supplies due to trade tensions. The robust South American program shielded Bunge, a top exporter in the region, from slumping U.S. soybean exports. Sign up here. By contrast, rival grain trader Archer-Daniels-Midland (ADM.N) , opens new tab, whose operations are more concentrated in the United States, cut its 2025 outlook on Tuesday due in part to U.S. trade policy uncertainty. Agribusinesses have been grappling with ample global crop supplies and slumping margins, as U.S. President Donald Trump's tariff threats have upended global trade. Ongoing uncertainty over trade and biofuels policy will be a drag on fourth-quarter earnings as farmers selling crops to Bunge and customers buying its products have been reluctant to book deals beyond the near term, company executives said, pressuring margins for Bunge. "Policy decisions, including biofuels and trade, remain in flux as we look ahead to 2026," CEO Greg Heckman said. Bunge's adjusted profit of $2.27 per share for the quarter ended September 30 was its lowest third-quarter result since 2019, although it topped analysts' average estimate of $2.09 per share, according to LSEG data. The company reaffirmed its previous earnings guidance of between $7.30 and $7.60 per share for 2025, noting headwinds from policy uncertainty but adding that conditions were "developing favorably." Bunge's completed merger with Viterra bolstered its crop marketing and origination capacity and expanded its soy processing business in Argentina. The combined company's soy processing and refining segment profit was up 67% from the same quarter a year earlier and softseed processing and refining profit more than doubled as volumes surged. Profit in Bunge's grain merchandising and milling division was up 56%, as higher wheat milling and ocean freight earnings more than offset poor grain merchandising results. https://www.reuters.com/sustainability/climate-energy/bunge-beats-third-quarter-profit-estimates-2025-11-05/

2025-11-05 11:11

CHALASTRA, Greece, Nov 5 (Reuters) - Faced with droughts and sharper competition, Greek rice farmers are tapping into a new revenue stream: selling their cheap, broken rice to wedding goers instead of discarding it or using it for animal feed. The tradition of tossing rice over newlyweds has become a wasteful problem in the Mediterranean country, say farmers, who estimate that nearly 200 metric tons of edible, full-grain rice are lost this way each year. Sign up here. Under a new initiative, a cooperative in northern Greece's Chalastra, a major rice-growing region, has since May sold over three tons of broken rice rebranded and sold in white sacks labelled "wedding rice". "When there is malnutrition... it is unfair to throw it away," said Christos Gatzaras, a 52-year-old farmer and head of the cooperative's rice producers. Greece is the EU's third-largest rice producer, exporting most of its 250,000-ton annual production. But the sector is struggling with fierce competition from low-cost imports from South Asia and recent droughts in Greece's agricultural areas. "We face many difficulties, the costs have spiked, we are under a lot of pressure," said farmer Vasilis Matziounis, 34, who backs the initiative. Tens of thousands of religious and civil weddings are held in Greece each year, and many foreign couples choose the scenic islands of Santorini or Mykonos as a marital backdrop. Broken rice - damaged during harvesting or processing - accounts for roughly 9% of Greece's rice exports and channelling it into weddings could help boost the sector. "Some people will keep tossing edible rice," said Giannis Gogos, head of sales at Chalastra's primary cooperative. "But (this way) we can reduce the waste." https://www.reuters.com/business/environment/new-revenue-stream-greeces-struggling-rice-farmers-wedding-confetti-2025-11-05/

2025-11-05 10:56

WARSAW, Nov 5 (Reuters) - Poland's government is in talks with banks about possible loans to help save troubled miner JSW (JSW.WA) , opens new tab, State Assets Minister Wojciech Balczun said on Wednesday. JSW, Europe's largest producer of coking coal used in the steel industry, is facing liquidity issues due to falling prices for the feedstock as well as high wage costs and requires restructuring. Sign up here. "We're talking to the banks. The company needs to go through a restructuring process. It needs to clear itself of unnecessary assets that could be a source of funding," he told journalists. "I am a moderate optimist. We want to save JSW. It is a key company." https://www.reuters.com/business/finance/polands-government-talks-with-banks-over-loans-miner-jsw-minister-says-2025-11-05/