2025-12-01 20:31
Dec 1 (Reuters) - Shopify (SHOP.TO) , opens new tab, said it had fixed certain issues related to logging in to the online shopping platform that impacted thousands of customers and several small businesses on Cyber Monday. The outages peaked around 11 a.m. ET with around 4,000 outages reported. About 128 users reported problems at 2:40 p.m. ET, according to the outage-tracking website Downdetector. Sign up here. "We have found and fixed an issue with our login authentication flow, and are seeing signs of recovery for admin and POS (point of sale) login issues now," Shopify said on its website, adding that it continues to monitor the recovery. The platform had earlier launched an investigation into the issue, noting that some merchants may also have seen an issue with checkouts due to not being able to access point-of-sale systems. Shopify was also down in the UK, as per Downdetector, with about 2,500 outages reported at its peak at 9:45 a.m. ET. The outage coincides with Cyber Monday, the biggest online shopping day in the U.S., with strong Black Friday momentum and AI-powered shopping tools expected to drive sales. https://www.reuters.com/business/retail-consumer/shopify-down-thousands-users-cyber-monday-2025-12-01/
2025-12-01 19:19
Dec 1 (Reuters) - The U.S. Midwest grid operator will fast-track reviews of 15 more power projects to accelerate the addition of electricity supply, the Midcontinent Independent System Operator said on Monday, as part of a program facing legal challenges from consumer and environmental groups. Some of the country's biggest regional grids - MISO, Southwest Power Pool and PJM Interconnection - have approved dozens of power projects this year for speedy review as the operators sound the alarm over rising demand outpacing the addition of new electricity sources. Sign up here. Some of those fast-tracking processes have faced legal pushback on claims that the grid operators have favored natural gas-fired power projects over renewable energy, such as solar and wind. Groups including the Natural Resources Defense Council and Sierra Club have sued the U.S. Federal Energy Regulatory Commission over MISO and SPP's programs, which require FERC approval. MISO's second round of project selections includes seven natural gas-fired plants, three battery storage projects, three solar projects and two wind turbines, according to MISO. The fast-track program is aimed at shaving months or years off the time it takes to link the power supplies to the grid. “These projects are essential to meeting near-term reliability needs and ensuring new resource additions are online to meet load growth,” said MISO Vice President Aubrey Johnson. The total capacity of the 15 projects is more than six gigawatts, and their startup dates range from December 2027 to August 2028. One gigawatt can power about 750,000 homes. https://www.reuters.com/legal/litigation/us-midwest-grid-operator-speeds-review-15-projects-bolster-power-supply-2025-12-01/
2025-12-01 18:54
LIMA, Dec 1 (Reuters) - At least 12 people have died and 20 more were left injured after a landslide in Peru's Amazon region sunk two boats on the Ucayali river, local health authorities said on Monday. Two people remain missing, local health agency Diresa Ucayali said on social media, following the landslide that struck around 4:20 a.m. (0900 GMT) in a port area of Iparia, located some 415 km (258 miles)north-east of Peru's capital, hitting two boats that were on their way to other towns on the riverside. Sign up here. State news agency Andina said national police and navy units had been dispatched by helicopters to help the rescue efforts. One boat, Rapido Oriente, was completely submerged, while another, the Deo Rigo, suffered serious damages, Andina reported. The Deo Rigo was traveling from a nearby indigenous community and had stopped in Iparia so passengers could disembark when the landslide happened, it added. Teachers and doctors were among the passengers, Andina said. https://www.reuters.com/world/americas/peru-landslide-sinks-boats-amazon-region-river-killing-12-2025-12-01/
2025-12-01 18:42
Strategy slashes 2025 earnings forecast due to bitcoin slump Bitcoin falls below $90,000 Strategy sets $1.44 billion reserve for dividends amid market volatility Dec 1 (Reuters) - Strategy (MSTR.O) , opens new tab slashed its earnings forecast for 2025 on Monday, citing a weak run in bitcoin, the world's largest cryptocurrency, and announced plans to create a reserve to support dividend payments. Shares of the largest corporate holder of bitcoin slumped about 8% in afternoon trade. Sign up here. Bitcoin dropped below $90,000 on Monday as a selloff deepened. The cryptocurrency had shed more than $18,000 in November, marking its steepest monthly fall since mid-2021 amid renewed risk aversion. "Bitcoin's ongoing slump has been a disaster for Strategy, as the stock hits fresh one-year lows," said Chris Beauchamp, chief market analyst at IG Group. "Many had hoped that the lows last week in bitcoin would mark a recovery for the stock, but while the cryptocurrency is still above the November low, the selling appears to be intensifying as the afternoon goes on." Shares of firms holding bitcoin and other tokens on their balance sheets have been under pressure following the latest volatility in the crypto market. Strategy said it now expected between a profit of $6.3 billion and a loss of $5.5 billion for the full year, compared to its previous forecast of a net profit of $24 billion. The prior estimate, published on October 30, assumed a bitcoin price of $150,000 as of December 31, the company said. Separately, Strategy said it had set up a $1.44 billion reserve to fund dividends on preferred stock and interest on outstanding debt. "I think that the idea of establishing a USD reserve is prudent and also helps to address some of the questions that had been out there about how the company would ultimately make these [dividend] payments," said Mark Palmer, an analyst at Benchmark. The reserve, which is set to ultimately cover dividend payments for two years, will position the company better to "navigate short-term market volatility", Michael Saylor, founder and executive chairman, said in a statement. Strategy said it held 650,000 bitcoins, equal to about 3.1% of the total 21 million that will ever exist. https://www.reuters.com/business/strategy-sharply-cuts-annual-earnings-forecast-bitcoin-tumbles-2025-12-01/
2025-12-01 18:26
Canadian dollar falls 0.1% against the greenback Trades in a range of 1.3956 to 1.3991 Manufacturing PMI falls to 48.4 in November Bond yields rise across the curve TORONTO, Dec 1 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Monday, giving back some recent gains, as domestic data showed the manufacturing sector contracted at a steeper pace in November. The loonie was trading 0.1% lower at 1.3980 per U.S. dollar, or 71.53 U.S. cents, after moving in a range of 1.3956 to 1.3991. Sign up here. On Friday, the currency touched its strongest intraday level in four weeks at 1.3935 as Canadian third-quarter GDP growth surpassed forecasts. "The CAD is retaining a good deal of the advance seen last week around the stronger than expected GDP report," Shaun Osborne and Eric Theoret, strategists at Scotiabank, said in a note. "The data will reinforce the outlook for steady BoC policy for the foreseeable future and bolster the narrowing trend in short-term U.S./Canada yield spreads." Investors see a roughly 90% chance the Bank of Canada will leave its benchmark interest rate on hold at a three-year low of 2.25% next week. Data on Monday was less upbeat. The S&P Global Canada Manufacturing Purchasing Managers' Index fell to 48.4 last month from 49.6 in October as trade uncertainty continued to hold back output and new orders. It marked the 10th straight month the index was below the 50.0 no-change mark. The price of oil , one of Canada's major exports, was trading 1.2% higher at $59.26 a barrel following OPEC's decision to leave output levels unchanged in the first quarter of 2026. Canadian government bond yields moved higher across the curve, tracking moves in U.S. Treasuries. The 10-year was up 8 basis points at 3.232%, after earlier touching its highest level since November 20 at 3.237%. https://www.reuters.com/business/canadian-dollar-edges-lower-factory-downturn-lengthens-2025-12-01/
2025-12-01 18:17
LONDON, Dec 1 (Reuters) - Britain's Treasury Committee said Richard Hughes, who resigned as the head of the fiscal watchdog, would no longer appear to discuss the work of the agency on Tuesday after he quit over the organisation's early release of key parts of the budget. The session will continue as scheduled on Tuesday with the remaining members of the OBR's Budget Responsibility Committee, Tom Josephs and David Miles, the cross-party committee said in a statement. Sign up here. The committee, which examines the expenditure, administration and policy of the finance ministry, the Bank of England, and other finance bodies, thanked Hughes for his service. "I want to thank Richard Hughes for approaching his work with dedication throughout his time as Chair of the Office for Budget Responsibility – often in trying circumstances," said Meg Hillier, chair of the committee. "I commend his decision to take full responsibility for the incident." https://www.reuters.com/world/uk/uk-treasury-committee-drops-obrs-hughes-tuesdays-hearing-2025-12-01/
