2025-08-13 11:15

Winds reach up to 191 kph One person missing, 33 injured in Taiwan Typhoon expected to hit China late Wednesday, early Thursday TAIPEI, Aug 13 (Reuters) - Typhoon Podul blew through southern Taiwan on Wednesday packing winds of up to 191 kph (118 mph) and leaving one person missing, as a large swathe of the island shut down and hundreds of flights were cancelled. Taiwan is regularly hit by typhoons, generally along its mountainous east coast facing the Pacific. Sign up here. Podul slammed into the southeastern city of Taitung around 1 p.m. (0500 GMT), passed through the southern tip of the island and then into the Taiwan Strait some three hours later, Taiwan's Central Weather Administration said. It is expected to next make landfall on China's southern coast late on Wednesday or early Thursday, affecting Fujian and Guangdong provinces, according to Chinese state broadcaster CCTV. In Taiwan, one person was reported missing and 33 others injured, the government said. Nine cities and counties announced the suspension of work and school for Wednesday, including the southern metropolises of Kaohsiung and Tainan. In the capital Taipei, home to Taiwan's financial markets, there were blustery winds but no impact. Authorities also evacuated those whose homes were damaged by a July typhoon that brought record winds and damaged the electricity grid in a rare direct hit to Taiwan's west coast. The government said more than 5,500 people had been evacuated ahead of the typhoon's arrival. All domestic flights were cancelled on Wednesday - 252 in total - while 155 international flights were also called off, the transport ministry said. Taiwan's two main international carriers China Airlines (2610.TW) , opens new tab and EVA Air (2618.TW) , opens new tab said their cancellations were focused on routes out of Kaohsiung, with some flights from the island's main international airport at Taoyuan stopped as well. As much as 600 mm (24 inches) of rain was forecast in southern mountainous areas over the coming few days, the Central Weather Administration said. More than a year's rainfall fell in a single week this month in some southern areas, unleashing widespread landslides and flooding, with four deaths. https://www.reuters.com/business/environment/typhoon-podul-blows-through-southern-taiwan-leaving-one-person-missing-2025-08-13/

2025-08-13 11:13

Dollar falls as markets ramp up Fed cut bets US inflation data in line with expectations Trump weighing lawsuit against Powell over renovations LONDON, Aug 13 (Reuters) - The dollar fell to a two-week low on Wednesday after a tame reading on U.S. inflation bolstered expectations of a Federal Reserve rate cut next month, with President Donald Trump's attempts to extend his grip over U.S. institutions also undermining the currency. The dollar index , measuring the currency against a basket of peers, fell to 97.62, its lowest since July 28, extending its 0.5% fall on Tuesday. It was last down 0.3% at 97.70. Sign up here. U.S. consumer prices increased marginally in July, data showed on Tuesday, in line with forecasts and as the pass-through from Trump's sweeping tariffs to goods prices has so far been limited. Investors eyeing imminent Fed cuts moved to price in a 98% chance the central bank would ease rates next month, according to LSEG data. Also eroding investor confidence in the dollar were Trump's latest attempts to undermine Fed independence, after White House spokeswoman Karoline Leavitt said on Tuesday that the president was considering a lawsuit against Fed Chair Jerome Powell in relation to his management of renovations at the central bank's Washington headquarters. Trump has been at loggerheads with Powell and has repeatedly lambasted him for not easing rates sooner. Michael Pfister, FX analyst at Commerzbank, said these political developments carried echoes of autocratic countries, where heads of statistics agencies or central banks are replaced and critical data series often discontinued or manipulated. "I'm not saying that this will necessarily happen here. But the developments of the last few days and weeks do not exactly fill me with optimism about the future, or the U.S. dollar," Pfister said. Trump also hit out at Goldman Sachs (GS.N) , opens new tab CEO David Solomon, saying the bank had been wrong to predict U.S. tariffs would hurt the economy. Trump questioned whether Solomon should lead the Wall Street institution. Elsewhere, the dollar's weakness supported the euro and sterling . The single currency was last up 0.4% to $1.1719, briefly hitting its highest since July 28. Similarly, the British currency rose 0.5% to $1.3570, briefly hitting its highest since July 24. Britain's jobs market weakened again though wage growth stayed strong, according to data on Tuesday, underscoring why the Bank of England is so cautious about cutting interest rates. The Australian dollar was up 0.4% to $0.6556, while the New Zealand dollar rose 0.6% to $0.5989. The Reserve Bank of Australia on Tuesday cut interest rates as expected, and signalled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum. In cryptocurrencies, ether scaled a nearly four-year high of $4,710. "Ethereum's quiet breakout is being fuelled by real-world adoption and capital confidence," said Gracie Lin, Singapore CEO of crypto exchange OKX. "On our platform, ETH has now overtaken BTC as the most traded asset over the past month." https://www.reuters.com/world/middle-east/dollar-slips-two-week-low-investors-eye-fed-cut-2025-08-13/

2025-08-13 11:07

Aug 13 (Reuters) - Standard Chartered raised its year-end target for ether to $7,500 from $4,000 on Wednesday, citing improvement in industry engagement and uptick in holdings of the cryptocurrency in recent months. The brokerage's new year-end target represents a premium of near 60% from ether's more than 3-1/2 year high of $4,700 on Wednesday. Sign up here. The world's second largest cryptocurrency has become the token of choice for those looking for more active returns. Unlike bitcoin , which solely relies on price appreciation, ether can be used in staking, a practice where holders lock up their tokens to support the ethereum network in exchange for rewards. Ether has soared over 50% in the past four weeks, helped by the passage of the Genius Act, a law to create a regulatory regime for dollar-pegged cryptocurrencies known as stablecoins. Prices of other crypto assets also rose, on hopes the law would lead to increased acceptance. "We project that the stablecoin sector will grow by around 8x by end-2028, which would have a significant direct impact on fees on the Ethereum network," said Geoff Kendrick, Standard Chartered's head of digital assets research. Most stablecoins are issued and transacted on the underlying Ethereum blockchain, driving up demand for ether to pay for transaction fees. Ethereum's long-term growth depends on using its main blockchain (Layer 1) for high-value transactions, especially those tied to traditional finance, Kendrick said, adding that a big boost in Layer 1's capacity would help make this possible. The brokerage raised its 2028 year-end ether forecast to $25,000 from $7,500. Kendrick also sees potential for Ethereum treasury companies to increase their holdings of the token to 10% of all ether in circulation. https://www.reuters.com/business/standard-chartered-lifts-year-end-ether-forecast-7500-2025-08-13/

2025-08-13 10:57

PARIS, Aug 13 (Reuters) - France has recalled several kinds of camembert, brie and other soft cheeses after two people died from listeriosis infection and several fell ill after eating cheeses sold in supermarkets nationwide. The health ministry said dairy firm Chavegrand is recalling dozens of batches of soft-rind cheeses after a possible link was established between the cases of listeriosis and consumption of its products. Sign up here. Chavegrand, a family-owned firm which produces cheese for several supermarket chains including Leclerc, Carrefour and Auchan, said an old production line where the suspect cheeses had been made was now closed and products currently on supermarket shelves are safe. "We were shocked to hear about these two dramas and we are working hard to make sure our production lines are safe," company spokesman Guillaume Albert told Reuters. The recalled products are all soft cheeses with a bloomy rind made from pasteurized cow's or goat's milk and were sold until August 9 throughout France and internationally under various brand names, the health ministry said. Listeriosis, the infection caused by the listeria bacteria, causes flu-like symptoms, nausea, diarrhoea and infection of the blood and brain. It poses a higher risk for newborns, the elderly, pregnant women and people with weak immunity. The health ministry said the people infected were aged 34 to 95 and that one of the people who died had underlying medical issues. The first cases were identified in June. https://www.reuters.com/sustainability/boards-policy-regulation/france-recalls-soft-cheeses-after-two-suspected-deaths-listeriosis-2025-08-13/

2025-08-13 10:55

PARIS, Aug 12 (Reuters) - Four reactors at France's Gravelines nuclear plant will return to operation throughout the week, slightly later than initially planned, EDF data showed on Tuesday, after they were forced offline by a swarm of jellyfish in the cooling systems. The plant in northern France is one of the largest in the country and is cooled from a canal connected to the North Sea. Its six units produce 900 megawatts of power each, or 5.4 gigawatts in total. Sign up here. The first reactor, unit 6, is expected to restart on Tuesday, and then one reactor is expected to come back online each day until all four have returned to service on Friday, EDF data showed. The original plan was for all four to restart on Tuesday. EDF did not give a reason for the delay, although France is in the midst of a heatwave that is creating challenges for many nuclear cooling systems. Its data showed the first reactor had still not restarted by 1250 GMT on Tuesday. The whole Gravelines plant was temporarily halted on Monday after a "massive and unpredictable" swarm of jellyfish got into the cooling systems, EDF said. Four reactors were taken offline, while the other two were already undergoing planned maintenance. They were English Barrel jellyfish, a native, non-stinging species that can grow up to 90 centimetres across, said citizen scientist Aäron Fabrice de Kisangani. The current would have pushed the jellyfish from the harbour and into the canal towards the nuclear plant, and then they would not have been able to escape the suction of the water coolant system, pulling them into the filters, Aaron said. Higher average sea temperatures this year could cause larger jellyfish blooms, he added, noting that jellyfish were staying longer in the North Sea due to mild autumns and winters. This is not the first time that jellyfish have disrupted nuclear plants. Scotland's Torness faced similar problems in 2011, while Gravelines itself was disrupted in 1993. Scientists warn such events could become more common due to factors including global warming, the arrival of invasive species, habitat loss of predators and over-fishing. https://www.reuters.com/business/energy/jellyfish-hit-french-nuclear-plant-facing-delayed-restart-2025-08-12/

2025-08-13 10:54

Vote to cut key rate by 25 bps to 1.50% was unanimous BOT says policy to be accommodative going forward GDP to slow in H2 on tariff impact on businesses and consumption Governor Sethaput's last meeting, Vitai takes over in October BANGKOK, Aug 13 (Reuters) - Thailand's central bank lowered its policy rate to a near three-year low on Wednesday to boost a slowing economy grappling with U.S. tariffs, falling prices and weak foreign tourist arrivals, with further policy easing seen later this year. As widely expected, the monetary committee unanimously cut the one-day repurchase rate (THCBIR=ECI) , opens new tab by 25 basis points to 1.50%, the lowest since late 2022. It was the fourth reduction in 10 months. Sign up here. The economy was expected to expand this year and next, close to earlier assessments of 2.3% and 1.7%, respectively, but U.S. trade policies would exacerbate structural problems and weaken competitiveness, with small businesses especially vulnerable, the Bank of Thailand said. "The committee views that monetary policy should be accommodative going forward to support the economy," it said. This year's growth forecast has some upside from a surge in exports, assistant governor Sakkapop Panyanukul told a press conference after Wednesday's decision. Exports, a key growth driver, grew 15% annually in first six months of 2025 as shippers raced to beat U.S. tariffs, but higher U.S. levies on most trading partners went into effect on August 7, with those on Thai imports set at 19%. The economy will slow in the second half, although there is little chance of a technical recession - or two consecutive quarterly contractions, Sakkapop added. The central bank is ready to ease further if the economy faces severe shocks, he said. "Weak economic growth remains the main reason for expecting more easing," said Gareth Leather, senior Asia economist at Capital Economics, said in a note, predicting a further 50 basis-point cuts by the end of the year. Southeast Asia's second-largest economy also has struggled with weak consumption and high household debt, with analysts expecting rate reductions at reviews in October and December. Wednesday's meeting was the last for Governor Sethaput Suthiwartnarueput. New Governor Vitai Ratanakorn, widely seen as dovish, will take over in October, and he has said rate cuts will support growth. "Led by the new BoT Governor, we expect the BoT to deepen its easing cycle further, cutting the policy rate to 1.00% by 1Q 2026," HSBC economist Aris Dacanay said in a note. Kobsidthi Silpachai, head of Capital Markets Research at Kasikornbank, expects a further cut in December. Sakkapop also said that the central bank will ensure that the baht currency moves in line with economic fundamentals. The baht reversed course to fall 0.1% after the announcement, while Thai stocks (.SETI) , opens new tab extended gains after the decision. Finance Minister Pichai Chunhavajira said the rate cut will boost liquidity and help exporters by weakening the baht, which has firmed more than 6% against a softening U.S. dollar so far this year. In June, the BOT predicted 2025 economic growth of 2.3%, with export growth of 4%, after factoring in U.S. tariff rates of 18%. The economy expanded 2.5% last year, lagging peers. There are still uncertainties relating to U.S. tariffs on transshipments via Thailand from third countries. The United States was Thailand's biggest export market last year, accounting for 18.3% of total shipments, with a value of $55 billion. Consumer prices (THCPI=ECI) , opens new tab in July fell 0.7% from a year earlier, down for a fourth consecutive month, and below the central bank's target range of 1% to 3% for the fifth consecutive month. Headline inflation was subdued because of supply-side factors but there are no signs of deflation yet, Sakkapop said. In June, the central bank predicted headline inflation of 0.5% this year, with the core rate seen at 1%. Adding to the challenges is renewed political turmoil that could bring down , opens new tab Prime Minister Paetongtarn Shinawatra , opens new tab or the coalition government led by her Pheu Thai party. https://www.reuters.com/world/asia-pacific/thailand-cuts-key-rate-near-three-year-low-growth-sputters-more-easing-expected-2025-08-13/