2025-10-20 00:24

13,000 air travel controllers will miss paychecks on October 28 Lawmakers in both parties have raised growing concerns about impact of shutdown on air safety FAA says it slows flights when it does not have enough air travel controllers to fully staff towers WASHINGTON, Oct 19 (Reuters) - The Federal Aviation Administration said late Sunday that air traffic control staffing issues were delaying travel at airports in Dallas, Chicago, Atlanta and Newark as a U.S. government shutdown hit its 19th day. The FAA said numerous staffing triggers had been received for the evening shift and flights could also be delayed in Las Vegas and Phoenix because of air traffic control absences. Sign up here. FlightAware said more than 5,800 flights had been delayed on Sunday. Weather issues and a Formula 1 race in Austin were also impacting flights. More than 20% of American Airlines (AAL.O) , opens new tab and Southwest Airlines (LUV.N) , opens new tab flights were delayed Sunday, according to FlightAware. Some 13,000 air traffic controllers and about 50,000 Transportation Security Administration officers must work during the government shutdown, but are not being paid. Earlier this month, more than 23,000 flights were delayed over a week and Transportation Secretary Sean Duffy said 53% of flight delays were due to staffing issues, compared with 5% normally, but staffing issues have largely improved over the last week. Air traffic control has become a flashpoint in the debate over the shutdown with both parties blaming the other. Unions and airlines have urged a quick end to the standoff. The Trump administration is airing videos at some airport security checkpoints blaming Democrats, but many airports have refused to run them. In 2019, during a 35-day shutdown, the number of absences by controllers and TSA officers rose as workers missed paychecks, extending checkpoint wait times at some airports. Authorities were forced to slow air traffic in New York and Washington, which put pressure on lawmakers to quickly end the standoff. The FAA is about 3,500 air traffic controllers short of targeted staffing levels and many had been working mandatory overtime and six-day weeks even before the shutdown. https://www.reuters.com/business/autos-transportation/faa-says-us-air-traffic-control-staffing-issues-causing-flight-delays-2025-10-19/

2025-10-20 00:19

Three major US stock indexes up 1% each Gold prices rise more than 2% US Treasury yields dip, but stay in holding pattern NEW YORK, Oct 20 (Reuters) - Major stock indexes gained sharply on Monday with investors looking forward to quarterly earnings reports from big U.S. companies this week, while U.S. Treasury yields edged lower ahead of upcoming U.S.-China trade discussions. Gold prices rose more than 2% on expectations of further U.S. interest rate cuts and sustained safe-haven demand. Sign up here. Investors are also monitoring the U.S. federal government shutdown, now in its 20th consecutive day. Key economic reports have not been published by government agencies as a result, although the September U.S. Consumer Price Index report is expected to be released on Friday. White House economic adviser Kevin Hassett said on Monday the shutdown was likely to end this week. The U.S. quarterly reporting period has unofficially entered its second week, and investors are keen to see reports this week from Tesla (TSLA.O) , opens new tab, IBM (IBM.N) , opens new tab, Netflix (NFLX.O) , opens new tab, Procter & Gamble (PG.N) , opens new tab, Coca-Cola (KO.N) , opens new tab and other big names. On Wall Street, the three major U.S. stock indexes each rose more than 1%. "Some big, large-cap stalwarts are going to be reporting," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. "Of course, if we see some disappointing earnings, that could affect the market negatively. But investors have come into the week with rose-colored glasses on, feeling very good about where we've gone this year." The Dow Jones Industrial Average (.DJI) , opens new tab rose 515.97 points, or 1.12%, to 46,706.58, the S&P 500 (.SPX) , opens new tab advanced 71.12 points, or 1.07%, to 6,735.13 and the Nasdaq Composite (.IXIC) , opens new tab climbed 310.57 points, or 1.37%, to 22,990.54. As U.S. regional banks' earnings keep rolling in, some market watchers said tighter credit conditions could remove some froth in the market. MSCI's gauge of stocks across the globe (.MIWD00000PUS) , opens new tab rose 11.79 points, or 1.20%, to 995.69. European shares closed higher as initial concerns over the stability of the U.S. banking sector eased. The pan-European STOXX 600 (.STOXX) , opens new tab index rose 1.03%. On the U.S. trade front, U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet this week with Chinese Vice Premier He Lifeng in Malaysia to try to forestall an escalation of U.S. tariffs on Chinese goods that U.S. President Donald Trump said was unsustainable. Trump also confirmed he would meet with Chinese President Xi Jinping in two weeks in South Korea and expressed admiration for the Chinese leader. The yield on benchmark U.S. 10-year notes fell 2.7 basis points to 3.982%, from 4.009% late on Friday. The dollar edged higher against the yen and other currencies. Markets were reducing the odds of a Bank of Japan rate hike this month to just over 20%, while in France, political tensions eased. In Japan, a coalition deal set the stage for pro-stimulus Sanae Takaichi to become prime minister. The Federal Reserve still is widely expected to cut interest rates by a quarter-point next month and again in December. The dollar index , which measures the greenback against a basket of currencies, rose 0.07% to 98.61, with the euro down 0.08% at $1.1642. Against the Japanese yen , the dollar strengthened 0.06% to 150.71. Spot gold rose 2.5% to $4,354.79 an ounce, while oil prices settled at their lowest since early May amid worries about a potential supply glut. Brent crude futures fell 28 cents, or 0.46%, to settle at $61.01 a barrel. U.S. West Texas Intermediate futures eased 2 cents, or 0.03%, to $57.52. https://www.reuters.com/business/autos-transportation/global-markets-wrapup-1-2025-10-20/

2025-10-19 23:13

Ueda says he wants to collect more data ahead of October meeting BOJ chief likely got little clarity from meetings in Washington Ueda faces pressure from hawks on BOJ's board Central bank's next policy meeting is set for October 29-30 WASHINGTON, Oct 20 (Reuters) - Bank of Japan Governor Kazuo Ueda likely left Washington last week with little conviction that global headwinds will allow the central bank to raise interest rates as soon as this month, with finance officials from around the world warning of downside risks amid renewed U.S.-China trade tensions. But the resilience of the global economy, which was touted by the International Monetary Fund in its latest World Economic Outlook last week, also gives him cover to proceed with a near-term rate hike if a hawkish-leaning BOJ board prefers to move sooner rather than later. Sign up here. Ueda, as a result, left his options open by offering few clues on the timing of a rate hike, which markets bet will happen by January of next year. "There's not much of a gap in how I see global and U.S. economies now and how I saw it back in Japan," Ueda said in a press conference on Thursday after attending the G20 finance leaders' gathering in Washington. "I would like to keep gathering more information and scrutinize various data that comes out leading up to our October policy meeting," he said, when asked about the chance of a rate hike at the October 29-30 session. Markets have been focusing on Ueda's comments in Washington, after he said earlier this month he hoped the talks with finance officials and bankers would provide information that helped BOJ policymakers decide whether to hike rates in late October. Ueda has repeatedly cautioned against raising borrowing costs too soon, stressing the need to gauge the strength of the U.S. economy and the extent of the damage from President Donald Trump's tariffs on Japan's export-reliant economy. The meetings in Washington likely gave Ueda little clarity on how soon the fog shrouding the global outlook would clear. PRESSURE WITHIN BOJ BOARD TO RAISE RATES QUICKER The IMF last week lifted its 2025 global growth forecast but warned that a renewed U.S.-China trade war could slow output. While describing global growth as resilient, IMF member countries voiced concerns about emerging strains and risks to the outlook. A senior IMF official told Reuters there were downside risks to Japan's economy and urged the BOJ to be "very gradual" in raising rates due to high uncertainty about the outlook. While Ueda may have plenty of reasons to put rates on hold, he faces pressure from within his board to move quicker. With inflation above the BOJ's 2% target for three straight years and Japan's economy weathering the hit from U.S. tariffs so far, the central bank's board is gradually leaning toward resuming rate hikes that had been put on hold since it raised its key interest rate to 0.5% in January. Two of the BOJ's nine board members unsuccessfully proposed raising rates in September on mounting inflationary pressure. Another dovish member then surprised markets by saying the need for a rate hike was increasing "more than ever." Delaying rate hikes for too long could also trigger a renewed slide in the yen, which could further push up the cost of living by inflating import prices. "If the BOJ holds off on raising rates in October, the next chance would be in December," said Tomoyuki Shimoda, a former BOJ executive. "During that time, there's a risk the yen could slide further." Still, the overall tone of Ueda and his staff suggests the BOJ will take a go-slow approach partly because hiking its key rate to 0.75% would bring it to levels unseen in three decades. Japan's parliament will likely vote to choose a new prime minister on Tuesday, giving the BOJ little time to communicate with a new administration before its next policy meeting. The expected new prime minister, Sanae Takaichi, is a proponent of loose monetary policy. "We don't know how exactly the economy will react" to rate hikes, BOJ Assistant Governor Seiichi Shimizu said during a seminar in Washington on Thursday. "This is another type of uncertainty we are facing now" that warrants moving cautiously, he said. https://www.reuters.com/world/asia-pacific/bank-japans-ueda-keeps-cards-close-chest-ahead-october-meeting-2025-10-19/

2025-10-19 22:32

TRIPOLI, Oct 20 (Reuters) - Libya's Zueitina Oil Company has contained a 'limited' leak on a 16-inch line connecting the Sabah and Zella oilfields, with no environmental impact reported, Libya's state-run National Oil Corp (NOC) said in a statement on Monday. "Technical teams repaired the leak site without recording any environmental impact or damage to nearby agricultural areas", the statement added. Sign up here. The NOC posted a video showing a stream of leaked oil in the desert, while a bulldozer digging in the area of the leaking oil. Oil flow was being gradually restored to the line between the two fields, while field teams continue on-site monitoring to ensure the integrity of the pipeline and prevent any future leaks, NOC said. Libya is one of Africa's biggest oil producers but output has been disrupted repeatedly in the chaotic decade since 2014, when the country split between rival authorities in the east and west following the NATO-backed uprising that toppled Muammar Gaddafi. https://www.reuters.com/business/energy/libyas-zueitina-oil-company-contains-limited-pipeline-leak-statement-says-2025-10-19/

2025-10-19 20:02

Oct 19 (Reuters) - Russian forces on Sunday attacked a coal mine in southeastern Ukraine and an unidentified energy site in the north near the Russian border, the operators of the sites said, adding to a series of recent assaults on Ukraine's energy network. Private Ukrainian energy firm DTEK said Russian forces launched an attack on a colliery in Dnipropetrovsk region. The company said 192 miners were safely brought to the surface, with no injuries. Sign up here. The company said it was the fourth Russian assault in two months on coal mining operations in Ukraine. The regional energy company in the northern border region of Chernihiv, Chernihivoblenergo, said an attack there caused extensive damage and cut off electricity to 55,000 users. Emergency crews would restore power in the area once it was safe to do so, it said. Russian attacks in recent weeks have focused on Ukraine's power grid and other energy sites. Power cuts were imposed in many areas in the past week in the aftermath of an attack earlier this month that cut electricity to more than one million consumers. https://www.reuters.com/business/energy/russia-attacks-ukraine-coal-mine-second-energy-site-companies-say-2025-10-19/

2025-10-19 14:52

BRUSSELS, Oct 19 (Reuters) - The European Union's diplomatic arm, the EEAS, is urging member states to back a maritime declaration that would allow EU nations working with flag states to arrange inspections on Russia's "shadow fleet" of oil tankers, an EEAS document shows. Beefing up inspection rights is the latest EU proposal aimed at curbing Russian oil and gas revenue being used by Moscow to finance the Ukraine war. EU foreign ministers are due to meet on Monday to discuss new measures against Russia, among other topics. Sign up here. In early October, the Group of Seven industrialised economies (G7) agreed to work jointly towards this goal and target countries that help Moscow circumvent sanctions as well as those that have increased Russian oil imports. "EU Member States increasingly demonstrate a renewed momentum for more robust enforcement actions tackling the shadow fleet (for example, France's action against the Boracay vessel, previous actions by Estonia on Kiwala, Germany on Eventin and Finland on Eagle S)," the EEAS background paper said. It said the draft declaration proposes "possible bilateral agreements between the flag states and the EU on pre-authorised boardings for inspections," adding that an increase in fake flag registrations also needed tackling. The EEAS said estimates put the shadow fleet at anywhere between 600 and 1,400, with Brussels sanctioning more than 400 ships as well as entities that enable the fleet to operate. Once the EU adopts the 19th package of sanctions - likely within the next week - that figure will rise to about 560 vessels and bring forward a ban on Russian liquefied natural gas (LNG) imports by a year to Jan. 1, 2027. The EEAS said the bloc will also target tanker re-fuelling services, so-called bunkering. https://www.reuters.com/business/energy/eu-seeks-maritime-declaration-inspect-russias-shadow-fleet-2025-10-19/