2025-11-28 10:48

MANCHESTER, England, Nov 28 (Reuters) - Britain's fiscal position remains vulnerable despite finance minister Rachel Reeves' tax-raising budget this week, S&P Global Ratings said on Friday. "We consider the UK's fiscal position as vulnerable and one of the key constraints on our sovereign rating," the ratings agency said in a statement. Sign up here. Britain has an "AA" sovereign credit rating, rated as stable by S&P - a notch below the top "AAA" rating. S&P said it saw a risk that the government might "back-track" some of its planned budget tightening measures as the next election, due in mid-2029 at the latest, approaches. While it said Reeves' budget contained limited measures to help economic growth, the country's budget deficit should continue to narrow. S&P said Britain's high income levels, its large diverse economy and independence of institutions would continue to support its credit rating. https://www.reuters.com/world/uk/uk-fiscal-position-remains-vulnerable-after-tax-raising-budget-sp-says-2025-11-28/

2025-11-28 10:45

Bird flu detected earlier and on more poultry farms this year Early arrival of wild birds seen as a key reason Risk to humans remains low PARIS, Nov 28 (Reuters) - An unusually early outbreak of bird flu cases affecting high numbers of wild birds and poultry farms across Europe and North America is raising concerns of a repeat of previous crises that led to mass culling and food price spikes. The highly pathogenic avian influenza, commonly called bird flu, has led to the culling of hundreds of millions of farmed birds in the past few years, disrupting food supplies and driving up prices. Human infections remain rare. Sign up here. While outbreaks typically spike in the northern hemisphere autumn as migratory birds fly south, they appeared earlier and in greater numbers in Europe and the U.S., affecting both wild birds and poultry. MORE OUTBREAKS THAN PREVIOUS SEASONS In the U.S., 107 outbreaks were reported by November 18, nearly four times last year's total. Minnesota, the country's largest turkey producing state, confirmed its first case two months earlier than in 2022. "It's certainly more than we've seen over the last few winter-fall migratory bird seasons," said Tim Boring, director of the Department of Agriculture and Rural Development of Michigan, another large turkey state. "I think it's part of this ongoing pattern... we're still well within this current outbreak that's lasted several years now," he said. The U.S. has already culled about 8 million birds since September, a slight increase from last year, government data showed. Canada, which has a smaller poultry flock than the U.S., has also culled nearly 8 million birds. Canadian Agriculture Minister Heath MacDonald said the bird flu situation was getting "very worrisome". "Wild birds seem to be carrying more of this disease. So it's scary in some ways," he told Reuters. The World Organisation for Animal Health said the early outbreaks were concerning but not alarming. "There should not be a public health alarm. An increase in number of cases could have different explanations. What we need to observe is the actual virus itself," said Gregorio Torres, head of WOAH's scientific department. DIFFERENT WILD BIRDS AFFECTED In Europe, the situation was also more severe than last year, with Germany recording the highest number of outbreaks in three years. Between early September and mid-November, 1,443 cases of bird flu were detected in wild birds in 26 European countries - a fourfold increase compared with the same period in 2024 and the highest since 2016, the European food safety agency EFSA said. "What's new this season? It's not exactly the same birds that are being affected. This time, we've seen contamination occur earlier among wild birds, and now we're starting to detect cases that are spreading to farmed birds," French health security agency ANSES Deputy Director General Gilles Salvat told reporters on Thursday. Salvat pointed to common cranes - which typically migrate earlier than waterfowl species such as ducks, geese and swans - as a major factor behind the outbreak, which spread from northeast to southwest Europe, with high fatalities in Germany and France. France put its poultry sector on high alertin October, much earlier than in previous years. The situation was more normal in most of Asia except for Cambodia, which has seen severe bird flu outbreaks, while Japan reported its first case on October 22 - five days later than last year. About 1.65 million birds have been culled so far in Japan. https://www.reuters.com/business/healthcare-pharmaceuticals/europe-north-america-face-early-wave-bird-flu-cases-2025-11-28/

2025-11-28 10:35

15 BTC treasury companies trading below NAV of their tokens Saylor's Strategy down almost 36% in November Nov 28 (Reuters) - Fresh turbulence in the crypto market is weighing on shares of companies that stockpile bitcoin and other tokens on their balance sheets, stoking concerns over stress in the niche but fast-growing sector. Buoyed by U.S. President Donald Trump's crypto-friendly stance and inspired by the meteoric success of Michael Saylor's Strategy (MSTR.O) , opens new tab, the number of publicly traded companies investing in cryptocurrencies in the hopes they will appreciate has boomed this year. Sign up here. However, concerns over a potential AI bubble and uncertainty over the path of U.S. Federal Reserve rate cuts have weighed on risk assets lately, pushing bitcoin this month to its lowest level since April and sending many of these "digital asset treasury" or DAT companies wobbling. At least 15 bitcoin treasury companies were trading below the net asset value of their tokens as of Friday, according to data from crypto publication The Block , opens new tab. With DATs holding 4% of all bitcoin, 3.1% of all ether and 0.8% of all solana, their fortunes could have major implications for coin prices, Standard Chartered analysts wrote in a September note, adding they expected consolidation in the space. DAT executives say their success will be rooted in their ability to make smart investing decisions, and many are seeking new ways to generate income. Here's a look at the performance of some of the most popular and high-profile DATs. BITCOIN TREASURY Shares of bitcoin DATs, the most prevalent type, have fallen substantially from their 2025 highs. Michael Saylor's Strategy - which pioneered corporate bitcoin hoarding, spawning dozens of copycats that have saturated the market - has dropped almost 36% in November alone. ETHER STRATEGY As the bitcoin DAT sector became overcrowded, new entrants have diversified into other coins including ether , with firms like Bitmine (BMNR.A) , opens new tab and Sharplink Gaming (SBET.O) , opens new tab leading the charge into ether. Their shares spiked earlier this year when they announced their stockpiling plans, but are now well off their 2025 highs. Unlike bitcoin DATs, which rely solely on price appreciation, ether can be used in "staking", a process in which ether holders help secure and validate blockchain transactions in return for rewards, often paid in more ether. That means ether DATs have other means for generating and gathering ether tokens. SOLANA AND OTHER ALTCOINS Several companies have also broadened their holdings to include "altcoins" such as solana and Ripple's XRP . Small companies have also started to dip into more thinly traded volatile tokens in a bid to boost their profits, creating more potential volatility risk for their share price. ALT5 Sigma (ALTS.O) , opens new tab, for example, is a company that started a DAT strategy hoarding the Trump family's cryptocurrency venture, World Liberty Financial. https://www.reuters.com/business/finance/crypto-hoarding-company-shares-under-pressure-risk-appetite-wanes-2025-11-28/

2025-11-28 10:34

BEIJING, Nov 28 (Reuters) - Chinese electric vehicle maker BYD (002594.SZ) , opens new tab will immediately recall 88,981 plug-in hybrids over power battery-related safety hazards, the market regulator said on Friday. The affected Qin PLUS DM-i models produced between January 2021 and September 2023 "may have limited power output due to problems with the consistency of power battery packs during the production process." Sign up here. In extreme cases, they will not be able to drive in pure electric mode, the market regulator said in a statement. The recall was based on a defect investigation initiated by the market regulator. https://www.reuters.com/business/autos-transportation/chinas-byd-recalls-88981-plug-in-hybrids-over-power-battery-issues-2025-11-28/

2025-11-28 06:59

PARIS, Nov 28 (Reuters) - The French government will continue to oppose plans to nationalise the French sites of steelmaker ArcelorMittal , whose workers face the risk of job cuts due to tough market conditions in the industry, it said on Friday. Finance Minister Roland Lescure reiterated in a statement the government's aim to avoid any nationalisation after the French lower house of parliament backed a motion proposing to nationalise the sites. Sign up here. The motion, which has been consistently opposed by the government and will now go to the French Senate, was put forward by the far-left France Unbowed (La France Insoumise) party. It was adopted late on Thursday in the lower house of parliament by 127 votes in favour versus 41 against, although it is likely to be blocked by the Senate, which is dominated by right-wing political parties opposed to the nationalisation. "I take note of the vote in parliament looking to nationalise ArcelorMittal," Lescure said. "We will continue to oppose the nationalisation of ArcelorMittal during the rest of the legislative process, while at the same time working to bring forward solutions for the company and its staff," he said. The European steel industry has been impacted by market uncertainty over ongoing tariff talks between the United States and Europe. https://www.reuters.com/business/france-keeps-up-opposition-nationalising-arcelormittal-sites-2025-11-28/

2025-11-28 06:53

TOKYO, Nov 28 (Reuters) - Hokkaido Governor Naomichi Suzuki said on Friday the restart of Hokkaido Electric Power Co's (9509.T) , opens new tab Tomari nuclear power plant in northern Japan is considered a realistic option for now. Suzuki told the Hokkaido regional assembly he would make a comprehensive decision on the restart after conducting on-site inspections and gathering feedback from surrounding communities. Sign up here. In July, Japan's Nuclear Regulation Authority approved a safety review of Tomari's 912-megawatt No. 3 reactor, the final regulatory step towards restarting the unit in a process that has lasted 12 years. Given regulatory approval, the government's new emergency response plan, and expectations of lower electricity prices after a restart, "utilizing nuclear power is considered a realistic option available for the time being," Suzuki said. After visiting the Tomari plant to confirm on-site safety measures and hearing from the mayors of the four local municipalities, "I will make a comprehensive judgment based on the discussions held during this assembly session," he said. Hokkaido Electric plans to complete construction of a seawall by March 2027 and aims to restart the reactor as soon as possible thereafter. The No. 3 reactor has been offline since 2012 amid Japan's broad push to strengthen nuclear safety following the Fukushima Daiichi disaster of the previous year. Last week, Niigata Governor Hideyo Hanazumi gave the green light for a partial restart of Tokyo Electric Power's (9501.T) , opens new tab Kashiwazaki-Kariwa nuclear power plant. https://www.reuters.com/sustainability/boards-policy-regulation/hokkaido-governor-decide-tomari-nuclear-power-plant-restart-2025-11-28/