2025-11-04 03:39

SYDNEY, Nov 4 (Reuters) - Australia's central bank on Tuesday left its cash rate steady as expected at 3.60%, saying it was cautious about easing further given higher core inflation, firmer consumer demand and a revival in the housing market. Wrapping up a two-day policy meeting, the Reserve Bank of Australia (RBA) said recent data suggested inflationary pressures could remain in the economy, but offered scant guidance on the prospect of further cuts. Sign up here. Markets had seen little chance of a rate cut this week following an uncomfortably hot reading on third-quarter inflation, and also see scant prospect of an easing in December. https://www.reuters.com/world/asia-pacific/australias-central-bank-holds-rates-360-signals-caution-2025-11-04/

2025-11-04 03:23

TOKYO, Nov 4 (Reuters) - Japan Finance Minister Satsuki Katayama reiterated on Tuesday the government would continue to monitor foreign exchange movements with a high sense of urgency as the yen hit fresh eight-month lows. "At the previous press conference (on Friday), I strongly expressed my views after observing the developments over those two days," Katayama said at a regular press conference. Sign up here. "My stance remains completely unchanged at this point. Since we are seeing one-sided and rapid movements, just as I said at that time, we continue to monitor the situation with a high level of urgency," she said. The yen touched 154.47 per dollar in early Asian trading on Tuesday, its lowest level since mid-February, stoking some market jitters about the potential for intervention. Katayama's wording was mostly unchanged from Friday, when she warned that the government had been monitoring, with a high sense of urgency, excessive fluctuations and disorderly movements on the currency market, including those driven by speculators. Those were her strongest comments on the currency since assuming her role last month. Her previous remarks had been limited to general principles, including that exchange rate movements should be stable and reflect economic fundamentals. https://www.reuters.com/world/asia-pacific/japan-continues-monitor-fx-with-high-urgency-finance-minister-says-2025-11-04/

2025-11-04 00:56

Death toll rises sharply as search efforts intensify Military helicopter on humanitarian mission crashes, six killed Kalmaegi causes evacuations, flooding, with cars and homes submerged Vietnam bracing for typhoon after recent deadly floods Philippines recovering from run of disasters, including Super Typhoon Ragasa CEBU, Philippines, Nov 4 (Reuters) - The death toll from Typhoon Kalmaegi in the Philippines hit 46 on Tuesday, officials said, including six crew of a military helicopter that crashed during the powerful storm that unleashed heavy rains and floods across the central region. The Huey helicopter went down in Agusan del Sur on the island of Mindanao, where it was conducting a humanitarian disaster response mission, the military said. Six bodies of the crew were recovered and an investigation was underway. Sign up here. The crash took place before noon about 270 km (168 miles) from the island of Cebu, the worst-hit region, where local authorities said 39 people had been killed by drowning or falling debris. One person was reported dead on the neighbouring island of Bohol. RUN OF DISASTERS IN PHILIPPINES The Philippines, which is hit by an average of 20 tropical storms each year, is recovering from a run of disasters including earthquakes and severe weather events in recent months. In September, Super Typhoon Ragasa swept across northern Luzon, forcing schools and government offices to shut down as it brought fierce winds and torrential rain. Although Kalmaegi, locally named Tino, has gradually lost strength since making landfall early on Tuesday, it continued to lash the country with winds of 120 kph and gusts of 165 kph as it swept across the Visayas islands headed for northern Palawan and towards the South China Sea. Tens of thousands were evacuated across the Visayas region, including parts of southern Luzon and northern Mindanao, ahead of a storm that submerged homes and caused widespread flooding. Cebu provincial information officer Ainjeliz Orong said the number of casualties in the province had jumped suddenly, from three reported earlier in the day, as rescue operations were underway and information had just started to come through. "Search and rescue efforts continue and there are missing and unaccounted individuals," Orong said by phone. Floods in Cebu City had subsided late on Tuesday but power was still out in many places and telecommunications services were intermittent, a Reuters journalist said. 'THE WATERS KEPT RISING' Verified videos circulating on social media showed cars and streets under water, with some vehicles carried away in the flow. After the flood receded in one area of Cebu City, cars shifted by fast-flowing water were left piled up on top of each other, some overturned. "We were really anxious because the longer the rains continued, the higher the floodwaters rose," said John Patajo, a housekeeper in the area. "When the waters rose, we went to our second floor. Yet, the waters kept rising so we decided to head up to our roof." The typhoon was expected to leave the Philippines late on Wednesday or early Thursday. Photos and videos from the Philippine Red Cross showed rescue workers wading through knee-deep floodwaters in Cebu City, using boats to reach stranded residents. In a town on the city's outskirts, homes were submerged, with only rooftops and top floors visible. More than 300 flights to and from the affected areas were cancelled on Tuesday, while boats at sea were advised to return. State weather agency PAGASA had earlier warned of a high risk of "life-threatening and damaging storm surges" that could reach more than 3 metres (9.84 ft) high on coastal and low-lying communities in the central Philippines. VIETNAM ON ALERT FOR KALMAEGI The Vietnamese government on Tuesday said that it was preparing for the worst-case scenario as it braced for the impact of Kalmaegi. The typhoon is forecast to make landfall on Thursday night in Vietnam's central regions, which have already suffered heavy floods that killed at least 40 people and left six others missing over the past week. "This is a very strong typhoon, which continues to strengthen," the government said. https://www.reuters.com/business/environment/typhoon-kalmaegi-brings-life-threatening-conditions-central-philippines-2025-11-04/

2025-11-04 00:19

Nov 3 (Reuters) - A travel association has urged the U.S. Congress in a letter on Monday to reopen the federal government ahead of the Thanksgiving travel rush, as the shutdown stretches into its 34th day. The prolonged shutdown has led to a spike in airline delays, affecting airports and 3.2 million passengers due to a high number of absences in air traffic controllers, with many of them taking up second jobs to cope. Sign up here. The shutdown is estimated to cost the U.S. economy between $7 billion and $14 billion, according to the nonpartisan Congressional Budget Office. "Air travel's number one priority is safety and while safety will be maintained, travelers will pay a heavy and completely unnecessary price in terms of delays, cancellations and lost confidence in the air travel experience," said U.S. Travel Association President and CEO Geoff Freeman. In a letter that was signed by 500 organizations, including Hilton (HLT.N) , opens new tab and MGM Resorts (MGM.N) , opens new tab, Freeman urged the Congress that the fastest way to restore confidence and restart travel was to reopen the government by passing a clean continuing resolution. "The damage from this shutdown is growing by the hour with 60% of Americans reconsidering their travel plans". The shutdown has forced 13,000 air traffic controllers and 50,000 Transportation Security Administration officers to work without pay and snarled tens of thousands of flights. https://www.reuters.com/world/us/us-travel-group-warns-congress-thanksgiving-chaos-amid-government-shutdown-2025-11-04/

2025-11-03 23:53

WASHINGTON, Nov 3 (Reuters) - U.S. President Donald Trump said on Monday he would ask Transportation Secretary Sean Duffy to again consider terminating the New York City vehicle congestion fee, more than five months after a federal judge blocked the effort. The first-in-the-nation program launched in January charges most passenger vehicles $9 during peak periods to enter Manhattan south of 60th Street, which is on track to raise $500 million this year. Sign up here. In May, U.S. District Judge Lewis Liman issued a preliminary injunction preventing the U.S. Transportation Department from withholding federal funding from New York after the Trump administration sought to stop Manhattan's congestion pricing program. Duffy in April told New York Governor Kathy Hochul the Transportation Department could withhold environmental approvals or the start of project funding if the state did not end congestion pricing. "New York City is getting KILLED by her ridiculous CONGESTION PRICING, where people have to pay a fortune to come into Manhattan - So they just don't come!" Trump said on Truth Social of Hochul on Monday. "The place is a ghost town." Hochul has said tourism and business have increased in New York City because the fee is dramatically reducing gridlock. Trump's comments on social media come just a day before New York voters will pick a new mayor. Duffy and Hochul's offices did not immediately respond to a request for comment. Judge Liman has said he will issue a ruling on the merits of the lawsuit by the end of December. Hochul has said funds raised from the program underpin $15 billion in debt financing for critical mass transit capital improvements. Earlier this month, Trump's administration froze $18 billion for major transit projects in New York, including the $17.2 billion Hudson River tunnel project, which received more than $11 billion in federal grants for passenger railroad Amtrak and commuter lines between New Jersey and Manhattan. Trump said the Hudson tunnel project has been "terminated," which has become a campaign issue in the New Jersey governor's race. Additionally, the Transportation Department on February 19 rescinded federal approval of a program designed to reduce traffic and raise money to upgrade aging subway and bus systems. https://www.reuters.com/world/us/trump-renews-push-end-new-york-city-vehicle-congestion-fee-2025-11-03/

2025-11-03 23:48

Nov 3 (Reuters) - U.S. pipeline operator Williams Companies (WMB.N) , opens new tab missed Wall Street estimates for third-quarter profit on Monday as higher interest and maintenance costs offset gains from higher service revenues, sending its shares down more than 2% after the bell. Williams, which owns and operates more than 32,000 miles of pipelines, placed several expansions into service during the quarter, including Transco's Alabama Georgia Connector and Commonwealth Energy Connector, and Northwest Pipeline's Stanfield South project. Sign up here. Interest costs rose to $372 million in the third quarter from $338 million a year earlier, while operating and maintenance expenses increased to $583 million. Service revenues climbed to $2.12 billion from $1.91 billion a year ago. The company lifted its 2025 growth capital expenditure by $500 million to a range of $3.95 billion to $4.25 billion after its roughly $1.9 billion investment in Woodside Energy's Louisiana LNG project. Larger rival Kinder Morgan (KMI.N) , opens new tab posted a rise in third-quarter profit, helped by higher volumes of natural gas transported through its pipelines. Tulsa, Oklahoma-based Williams reported adjusted profit of 49 cents per share for the quarter ended September 30, compared with analysts' average estimate of 56 cents per share, according to LSEG. https://www.reuters.com/business/energy/williams-companies-profit-falls-short-estimates-higher-expenses-2025-11-03/