2025-09-10 10:54
Sept 10 (Reuters) - Futures tied to Canada's main stock index were subdued on Wednesday, as investors paused after a record rally in the previous session and awaited U.S. producer price data due later in the day for insights into tariff-induced inflation. Futures on the S&P/TSX index gained 0.06% to 1,721.50 points by 06:26 a.m. ET (1026 GMT). Sign up here. The S&P 500 U.S. benchmark index also notched a record high close on Tuesday after a downward U.S. payrolls revision supported expectations that the Federal Reserve will soon cut interest rates to shore up economic growth. U.S. producer prices report will be in focus later in the day to assess the impact of President Donald Trump's tariff policies and whether it could help make the case for a jumbo 50-basis-point cut at the Fed's meeting next week. In commodities, prospects of a Fed rate cut helped underpin the price of gold that hovered near an all-time high on Wednesday. Oil prices also rose, while copper held steady. Meanwhile, expectations that the Bank of Canada will resume its easing cycles have supported market sentiment since last Friday, following disappointing jobs data. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report CA/ Reuters global stocks poll for Canada , Canadian markets directory https://www.reuters.com/markets/europe/tsx-futures-steady-following-record-rally-2025-09-10/
2025-09-10 10:52
Sept 10 (Reuters) - Italian engineering group Saipem (SPMI.MI) , opens new tab has won a $1.5 billion contract to continue the development of Turkey's largest offshore natural gas field, it said on Wednesday. The contract, awarded by Turkish Petroleum OTC, covers the third phase of a project to develop the Sakarya field, focusing on the construction of a floating production unit and a new trunkline connecting it to an onshore facility on the mainland. Sign up here. Saipem had already been involved in Sakarya's first and second phases of development. The new contract will last up to three years, with the offshore work taking place in 2027, the company said. https://www.reuters.com/business/energy/italys-saipem-awarded-15-billion-contract-turkeys-largest-gas-field-2025-09-10/
2025-09-10 10:47
US officials voice concern about foreign technology in transportation infrastructure Advisory says undocumented radios were found in foreign-made inverters and batteries Advisory comes amid escalating US warnings about Chinese technology WASHINGTON, Sept 10 (Reuters) - U.S. officials say solar-powered highway infrastructure including chargers, roadside weather stations, and traffic cameras should be scanned for the presence of rogue devices – such as hidden radios – secreted inside batteries and inverters. The advisory, disseminated late last month by the U.S. Department of Transportation’s Federal Highway Administration, comes amid escalating government action over the presence of Chinese technology in America's transportation infrastructure. Sign up here. The four-page security note, a copy of which was reviewed by Reuters, said that undocumented cellular radios had been discovered “in certain foreign-manufactured power inverters and BMS,” referring to battery management systems. The note, which has not previously been reported, did not specify where the products containing undocumented equipment had been imported from, but many inverters are made in China. There is increasing concern from U.S. officials that the devices, along with the electronic systems that manage rechargeable batteries, could be seeded with rogue communications components that would allow them to be remotely tampered with on Beijing’s orders. In May, Reuters reported that American energy officials had become concerned after experts found rogue communication devices in some Chinese inverters and batteries. Later that month, industry group Green Power Denmark said that unexplained electronic components had been found in imported equipment for Denmark's energy supply network. The U.S. Cybersecurity and Infrastructure Security Agency referred questions to the Department of Transportation, which said in a statement that the advisory "summarizes public and unclassified reporting to ensure agencies are implementing practical mitigation steps for transportation operators." It referred further questions back to the Cybersecurity and Infrastructure Security Agency. The Chinese Embassy in Washington said in a statement that it opposed "the distortion and smear of China's achievements in the field of energy infrastructure." In its advisory, the Federal Highway Administration warning cited federal and state-level reporting about “undocumented cellular radios” found inside inverters and batteries and that national-level assessments had determined that they could pose a risk. The August 20 advisory said the devices were used to power a range of U.S. highway infrastructure, including signs, traffic cameras, weather stations, solar-powered visitor areas and warehouses, and electric vehicle chargers. The risks it cited included simultaneous outages and surreptitious theft of data. The alert suggested that relevant authorities inventory inverters across the U.S. highway system, scan devices with spectrum analysis technology to detect any unexpected communications, disable or remove any undocumented radios, and make sure their networks were properly segmented. Separately, Washington has also raised concerns over the presence of Chinese autos on U.S. highways, worrying that Chinese companies could collect sensitive data while testing autonomous vehicles in the United States. In January, the Commerce Department finalized rules that will effectively bar nearly all Chinese cars and trucks from the U.S. market by late 2026, as part of a crackdown on vehicle software and hardware from China. https://www.reuters.com/legal/government/us-warns-hidden-radios-may-be-embedded-solar-powered-highway-infrastructure-2025-09-10/
2025-09-10 10:42
LONDON, Sept 10 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Financial Industry and Financial Markets, Reuters Open Interest , opens new tab Sign up here. Global equities rose early on Wednesday as bets for a Federal Reserve rate cut next week solidified following more bad news on the U.S. jobs front. Traders’ attention will now turn to U.S. producer and consumer inflation data releases set for today and tomorrow. While hot prints could create some noise in rates market, few expect anything to significantly alter the Fed’s plans for next week. In today’s column, I explain why stablecoins could entrench U.S. dollar dominance and why that is worrying regulators. Today's Market Minute Chart of the day Gold prices have risen almost 40% so far this year, following a 27% jump in 2024. This years’ spike has been driven by a weak dollar, strong central bank purchases, expectations of dovish monetary policy and rising geopolitical uncertainty. ROI markets columnist Jamie McGeever recently argued that central bank’s gold accumulation may be unstoppable. Today's events to watch Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website , opens new tab, and you can follow us on LinkedIn , opens new tab and X. , opens new tab Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. https://www.reuters.com/business/finance/global-markets-view-usa-2025-09-10/
2025-09-10 10:39
OSLO, Sept 10 (Reuters) - Norway's annual core inflation rate held steady at 3.1% in August, in line with July, official data showed on Wednesday, but underlying data pointed to an acceleration of prices, casting doubt on the prospect of interest rate cuts. Norway's currency, the crown, strengthened slightly on the news, trading at 11.61 at 1009 GMT against 11.66 shortly before the data release. Sign up here. While Statistics Norway's (SSB) August core inflation reading had appeared to be in line with analyst forecasts and the central bank's prediction, which both stood at 3.1%, it did not take into account a change in day-care costs. SSB in a statement said that without the government's increase in day-care subsidies, which kicked in last month, inflation would have risen by an estimated 0.4 percentage points more. Underlying core inflation thus stood closer to 3.5% year-on-year, Handelsbanken said in a note to clients, well above the central bank's 3.1% expectation. Norges Bank, which targets core inflation of 2.0%, is scheduled to make its next policy rate announcement on September 18. "Altogether, today's figures were stronger than expected... This raises questions about whether (Norges) Bank will deliver a cut next week," Handelsbanken wrote. The Norwegian economy has been stronger than expected this year but the central bank cut rates in June when prices eased, its first reduction of borrowing costs in five years. On Thursday the central bank will release its quarterly business activity survey, known as a regional network report. "An upside surprise in tomorrow's regional network could be enough for Norges Bank to postpone the expected rate cut," brokers DNB Carnegie said in a note. https://www.reuters.com/business/finance/norways-underlying-inflation-casts-doubt-rate-cut-2025-09-10/
2025-09-10 10:27
MUMBAI, Sept 10 (Reuters) - The Indian rupee closed unchanged on Wednesday as tariff-related uncertainties continued to dominate the Asian currency's price action following mixed signals from U.S. President Donald Trump regarding recent bilateral trade tensions. The rupee ended little changed on Wednesday to 88.1000 against Tuesday's close of 88.1025. Sign up here. The local currency's recent movement has largely been dictated by the ongoing trade tensions between India and the United States, traders said. The U.S. has already imposed punitive tariffs on Indian goods of up to 50% - among the steepest levies on any American trading partner. Late on Tuesday, Trump said on Truth Social that Washington and New Delhi are continuing negotiations to address trade barriers, expressing confidence in a successful outcome. However, he also pushed the European Union to impose tariffs of up to 100% on India over its purchases of Russian oil, a move that could prove to be a drag on the rupee, which has been among the worst-performing Asian currencies this year. Apart from the punitive U.S. tariffs on Indian goods, sustained dollar outflows by foreign investors have also weighed on the rupee. After reaching an all-time high of 88.36 on Friday, the rupee is expected to trade in a near-term range of 87.50–88.40, said Amit Pabari, managing director at CR Forex. “Softer U.S. jobs data and expectations of Fed rate cuts provide support, though existing tariffs may cap any sustained recovery,” Pabari added. Weak U.S. jobs growth in August has heightened expectations that the Federal Reserve will cut rates by at least 25 basis points next week, offering some respite to the Indian currency, traders and analysts said. Meanwhile, most Asian currencies traded lower on Wednesday, with the Malaysian ringgit leading the losses. The dollar index was down 0.06% at 97.747 as of 1537 IST. https://www.reuters.com/world/india/rupee-ends-flat-trumps-mixed-signals-trade-tariffs-2025-09-10/
