2025-11-11 18:21

Nov 11 (Reuters) - Ukrainian authorities have dismissed the supervisory board of the nuclear energy agency Energoatom after a corruption investigation was launched into alleged corrupt activity, Prime Minister Yulia Svyrydenko said on Tuesday. Svyrydenko, writing on Telegram, also said a new audit of the company would be conducted. Sign up here. https://www.reuters.com/world/europe/ukraine-dismisses-energoatom-supervisory-board-after-graft-probe-pm-says-2025-11-11/

2025-11-11 18:04

Food bank donations rise, restaurants offer free meals during SNAP lapse SNAP benefit distribution varies by state as legal battle unfolds Nearly 42 million Americans use food stamp benefits LONGMONT, Colorado, Nov 11 (Reuters) - For Anthony DeSousa, the owner of two pizza shops in Estes Park and Longmont, Colorado, feeding the hungry is personal. He grew up in poverty in New York and his dad was in jail for most of his life, leaving his mother to raise him and his two brothers. "I know what it’s like to be a kid and starving, to check every cabinet in the house 15 times looking for food and never finding any," DeSousa said. Sign up here. Since the beginning of November, he has served about 300 free pizzas, hundreds of chicken and pasta dinners and distributed over 600 pounds of beans and rice to those who show their Supplemental Nutrition Assistance Program benefits card or a federal worker ID during the record-long federal government shutdown. DeSousa is part of an uptick in charitable donations and activities from businesses and individuals this month as a historic lapse in SNAP, also known as food stamps, has strained low-income households. Some states have issued monthly benefits in full, some in part and some not at all while a dizzying legal battle plays out over whether the administration of President Donald Trump must fully fund November SNAP benefits. The U.S. Supreme Court on Tuesday allowed the Trump administration for now to continue withholding about $4 billion from SNAP. The extended pause is set to expire Thursday. Meanwhile, the key action is in the legislative branch. The U.S. Senate on Monday voted to advance a funding bill that would end the shutdown and fully fund SNAP benefits, with the House expected to take it as soon as Wednesday. Meanwhile, the country's nearly 42 million SNAP recipients have faced confusion and anxiety and made sacrifices like forgoing medication to make ends meet. Stacy Smith, an eligibility technician with the Rhode Island Department of Human Services and president of the American Federation of State, County and Municipal Employees Local 2882, said her office has had lines around the block as SNAP recipients seek information about benefits. "It’s been very stressful and disheartening and scary for families," Smith said. The U.S. Department of Agriculture did not respond to a request for comment. The agency has repeatedly blamed Democrats for the shutdown and resulting disruptions to SNAP. Democratic-led states have fought the administration in court to try to get it to issue full benefits. UPTICK IN CHARITY Many food banks have seen an uptick in donations as communities rally to support pantries already strained by a multi-year rise in hunger rates and food price inflation. Cyndi Kirkhart, executive director at Facing Hunger Food Bank in West Virginia, said donations have increased at least 50% this month. Between those donations and emergency state funds for food banks, the organization has been able to meet the doubled or tripled demand at their pantries, Kirkhart said. More than a dozen restaurants and coffee shops in Albuquerque, New Mexico, are offering free meals to children during the shutdown, among them The Burrow Cafe co-owned by Billy Nguyen, who has served 15 to 20 free kids' meals per day to families impacted by the SNAP lapse. Nguyen came to the United States as a refugee from central Vietnam and as a child knew what it was like to rely on food stamps. His wife Amanda Nguyen, 35, also relied on SNAP when she was a single mother. "She knows what it's like to go hungry," he said. "Feeding kids is not political." CONFUSION ABOUT BENEFITS Some states like Massachusetts issued full benefits to SNAP recipients last Friday after the USDA told states it was working toward complying with a court order that the administration fully fund November benefits. Others like North Carolina started issuing benefits on Friday but stopped when a Supreme Court order later that day allowed a lower court more time to consider the administration's appeal aimed at issuing less food aid. The administration has said it would only partially fund SNAP benefits during the shutdown because it said the funds required to make up the difference were earmarked for other nutrition programs. Florida is working to calculate reduced benefits in keeping with an earlier court ruling that required the administration to partially fund SNAP using a $5 billion agency emergency fund. SNAP benefits cost about $8 billion to 9 billion each month. Adding to the confusion, the USDA told states late on Saturday to "undo" any actions they had taken to fully fund benefits or risk financial penalties. A federal judge on Monday temporarily blocked the USDA from carrying out that directive. https://www.reuters.com/world/us/communities-donate-meals-funds-us-food-aid-remains-limbo-2025-11-11/

2025-11-11 18:04

CHISINAU, Nov 11 (Reuters) - Talks are underway between Moldova's government and Russia's Lukoil (LKOH.MM) , opens new tab on buying the energy company's infrastructure at Chisinau airport as part of a bid to implement U.S. sanctions imposed last month, the airport's director said on Tuesday. Serdgiu Spoiala said he saw no risks of the airport being left without aviation fuel after the government on Monday proposed buying Lukoil's facilities there. Sign up here. Lukoil, along with Rosneft, was targeted by U.S. sanctions linked to the more than 3 1/2-year-old war in Ukraine. It is currently the sole supplier of fuel at Eugen Doga airport. "We have issued a proposal in the name of the airport and talks are now underway," Spoiala told reporters. "We are looking at several scenarios and I believe things are going well. Matters are at an advanced stage, but it is too early to say anything. I think we will have results over the next three days." Lukoil-Moldova declined to comment. Moldova's pro-European government said on Monday that it had proposed buying Lukoil's airport infrastructure, including a storage facility, to ensure supplies of aviation fuel in the country lying between Ukraine and Romania. The Energy Ministry said it was seeking a deal of maximum benefit to the ex-Soviet state. Energy Minister Dorin Junghietu last week said the company would have to stop its operations in the country as of November 21 in accordance with the U.S. sanctions. He said the country is aligning itself with the sanctions but had requested a temporary exemption to ensure minimal disruptions for its citizens. The Lukoil-Moldova company operates a network of 110 filling stations that provide petrol and diesel in addition to its facilities for servicing aircraft. https://www.reuters.com/business/energy/talks-underway-moldova-airport-proposal-russias-lukoil-2025-11-11/

2025-11-11 16:04

Solana ETF attracts $420 million in first week, LSEG data shows First-mover advantage cited as key reason to push forward NYSE proceeded with ETF launches despite SEC shutdown risks Nov 11 (Reuters) - Crypto firm Bitwise Asset Management's successful push to launch the first U.S. spot Solana ETF while the Securities and Exchange Commission was shut down has upended the regulatory playbook and forced competitors to rethink their product plans, said industry executives. On October 28, Bitwise launched Solana Staking ETF (BSOL.P) , opens new tab which tracks the spot price of the sixth largest cryptocurrency, using an untested process that does not require a formal SEC sign-off. That gave Bitwise the first-mover advantage in what analysts see as the next biggest market for single crypto ETFs, angering competitors who took a more cautious approach and are now scrambling to catch up, said half a dozen industry sources. Sign up here. The product has already attracted $420 million in its first week, LSEG data shows. Such "altcoin" ETFs could attract $14 billion during their first six months, of which $6 billion could flow into Solana products, JPMorgan has predicted. "We do like firsts at Bitwise," said Matt Hougan, the firm's chief investment officer, adding: "We are following the rules." An SEC spokesperson did not respond to a request for comment amid the ongoing U.S. government shutdown. 'STAKES ARE HIGH' Bitwise's maneuver has overturned the playbook for multiple other issuers waiting to launch altcoin ETFs, said the sources. Grayscale Investments the next day converted its existing private fund to an ETF via the same route. Others including VanEck, Fidelity and Invesco have recently adjusted their registration statements to follow Bitwise's lead. They and other firms have also filed to launch ETFs tied to Ripple's XRP, public filings show. Multiple other issuers, meanwhile, are evaluating whether they want to take the same risks, the people said. Competition to grab investor attention by launching first is particularly intense when launching products that have few other differentiating factors, say analysts. They point to ProShares Bitcoin ETF (BITO.P) , opens new tab which won SEC approval in 2021 only days ahead of rivals. The bitcoin futures ETF has never relinquished its dominance, with $2.8 billion in assets compared to only $40 million for its closest rival. "The stakes are high for anyone who can seize first-mover advantage," said Ben Slavin, global head of ETFs at BNY, the custodian for many asset managers. "Even a day's advantage" can determine who captures millions of dollars of fees, he said. SHUTDOWN PROBLEMS In mid-September, the SEC allowed exchanges to adopt generic listing standards for crypto ETFs, expediting what had been a lengthy review. That opened the door for dozens of ETFs waiting in the wings to launch without an official SEC nod. Many issuers, though, still wanted the customary SEC blessing and were hesitant to test the new process with the looming government shutdown threatening to shutter the agency, sources said. The day before that happened on October 1, the SEC said issuers could launch a product while it was shut down provided they amended their filing to warn investors that it would automatically become effective after 20 days. Still, it cautioned to "consider carefully" the risks. These could include the agency intervening to suspend or pull the product if it found problems, ETF issuers and lawyers said. That left the final decision to issuers and exchanges. Cboe Global Markets (CBOE.Z) , opens new tab advised issuers to await the SEC's nod, according to four of the sources granted anonymity to discuss regulatory matters. The New York Stock Exchange, meanwhile, was willing to go ahead. On October 23, Bitwise said in filings it had shifted its proposed ETF from CBOE to NYSE and it began trading five days later. A spokesperson for Bitwise said "it was important to bring BSOL to the world’s largest and most experienced ETP listing venue for a product this unique." Using the same process, Canary Capital also that day launched the first new ETFs tied to spot litecoin and hedera, two much smaller altcoins, on the Nasdaq Stock Market. "A very unique constellation of events left us at this point where some issuers felt comfortable moving forward," said Thomas Erdosi, head of product at CF Benchmarks, which provides indices for investors in crypto, including other crypto ETFs. NYSE declined to comment. Cboe did not respond to requests for comment. Craig Salm, Grayscale's chief legal officer, said its engagement with the SEC at the point the firm converted its fund was "essentially complete." The staggered altcoin launches are a departure from the previous blanket approvals the SEC granted bitcoin and ether ETFs - an approach many issuers expected it to adopt for altcoins. Some issuers privately complained the Solana process was unfair and disorderly, although others said Bitwise simply followed the rules. "If you don't move, you lose the opportunity to win," said one. https://www.reuters.com/sustainability/boards-policy-regulation/bitwise-sparks-industry-scramble-with-solana-etf-launch-2025-11-11/

2025-11-11 15:27

Nov 11 (Reuters) - The U.S. government "made money" by giving support to the Argentine central bank ahead of last month's midterm election in the South American country, Treasury Secretary Scott Bessent said on Tuesday. "We used our financial balance sheet to stabilize the government, one of our great allies in Latin America, during an election," Bessent said in an interview on MSNBC. "The president there won in a landslide, the government is going to make money." Sign up here. The Treasury Department did not immediately respond to a request for clarification on Bessent's comments. Bessent was asked about the $20 billion swap line that the Trump administration readied in support of right-wing Argentine President Javier Milei ahead of the election in which Milei's party widely outperformed expectations. Officials have stopped short of calling it a bailout, referring to it as support via the Treasury's Exchange Stabilization Fund. "In most bailouts you don't make money," Bessent said. "The U.S. government made money." Bessent said there is a "generational opportunity" to create allies in Latin America, citing upcoming elections in Chile and Colombia. "By stabilizing the economy there (in Argentina) and making a profit, then that is a very good deal for the American people," Bessent said. https://www.reuters.com/world/americas/us-profited-argentina-currency-swap-deal-treasury-chief-bessent-says-2025-11-11/

2025-11-11 15:19

Asia leads with $16.5 bln inflows, all regions post net inflows EM ex-China stocks see strongest inflow since December 2023 NEW YORK, Nov 11 (Reuters) - A pick-up in flows into stocks led the way as non-resident investors added $26.9 billion to their emerging markets' equities and debt portfolios in October, data from a banking trade group showed. The inflow last month marks an uptick on the $21.1 billion in September and compares to a $5 billion net outflow in October 2024 according to the Institute of International Finance. Sign up here. The overall $12.9 billion net inflow to emerging market stocks was the highest since July, and the $9.4 billion that went into equities outside China the strongest since December 2023. "The most striking shift in October was the recovery of EM equity allocations," Jonathan Fortun, senior economist at the IIF wrote in the report, noting that regional breadth also improved, with developing economies in Asia, Latin America and Europe all enjoying stronger inflows. "Still, behind the headline recovery, key fault lines remain visible," Fortun added. The $14.4 billion inflows into emerging debt was the weakest since April. Net flows to China nearly canceled out in October with a $3.5 billion inflow to stocks more than offsetting a $3 billion outflow from debt, the data showed. Sovereign issuance slowed in October after a very strong third quarter according to the report, with investment grade favored widely while the lower-rated issuers are mostly absent. "Investor demand remains concentrated in credits with deep secondary markets, liquid benchmarks, and transparent macro frameworks," said Fortun. "High nominal and real yields remain central to demand for EM debt, especially in local currency markets, where carry continues to accrue at a historically fast pace." Overall flows picked up, fueled by expectations of a second-consecutive U.S. Federal Reserve rate cut late in October. After cutting rates last month, the Fed cast doubts on further monetary policy easing this year, but another 25 basis point cut is priced in for the December - even if policy makers are divided on it. All regions posted net inflows last month, with Asia leading handily with $16.5 billion. Europe, Latin America and Africa and the Middle east saw inflows between $3.8 billion and $3 billion. https://www.reuters.com/world/asia-pacific/stocks-shine-foreigners-add-27-bln-em-portfolios-october-says-iif-2025-11-11/