2025-09-05 20:46

WASHINGTON, Sept 5 (Reuters) - The Federal Aviation Administration said on Friday it was extending prohibitions barring U.S. flights to the Haitian capital Port-au-Prince through March 7, citing risks from armed groups to civil aviation. In November, the FAA temporarily halted all flights to Haiti but later allowed U.S. flights to resume to six other airports in northern Haiti after three U.S. commercial jetliners were struck by gunfire. the restrictions had been set to expire next week. Sign up here. U.S. planes can transit over Port-au-Prince above 10,000 feet (3,048 m). The agency last year allowed American carriers and general aviation pilots to resume flights to six airports in Haiti: Port-de-Paix, Cap-Haitien, Pignon, Jeremie, Antoine-Simon and Jacmel. The FAA said on Friday that armed groups continue to control nearly 90% of Port-au-Prince and the immediate surrounding strategic routes and border areas. Since March, there has been at least one instance of likely Haitian groups directing small arms fire at low-flying aircraft. Since last year, groups have used small arms to fire on civilian aircraft, helicopters and airports that damaged multiple aircraft and injured an air crew member. https://www.reuters.com/business/aerospace-defense/us-faa-extends-haiti-capital-flight-restrictions-until-march-2026-2025-09-05/

2025-09-05 20:35

US stocks hit record highs before pulling back US Aug nonfarm payrolls up 22,000 vs forecast of 75,000 gain Some investors now price higher chance of 50 bps rate cut by Fed NEW YORK/PARIS, Sept 5 (Reuters) - U.S. stocks briefly hit record highs on Friday before reversing course to trade lower, after data showing U.S. job growth cooled in August led investors to double down on bets that the Federal Reserve might cut interest rates later this month, maybe by as much as 50 basis points. Speculation that the Fed might lower rates more aggressively caused Treasury yields to nosedive and knocked the U.S. dollar lower, but drove gold to a new record high that approached $3,600 per ounce. Sign up here. Lower interest rates, which could lead to lower borrowing costs for businesses, are generally seen to be a boon to equity markets. Gold, which does not pay interest, also tends to shine when rates are low and uncertainty is high. "This number today puts a 50-basis-point rate cut at the next meeting back on the table," Art Hogan, a strategist at B Riley Wealth Management in Boston, said about the Fed's upcoming policy meeting on September 17. "More significantly, I think 75-basis-point before the end of the year is now pretty much of a lock." U.S. data showed nonfarm payrolls increased by only 22,000 jobs last month after rising by an upwardly revised 79,000 in July, missing forecasts for a gain of 75,000 positions. The S&P 500 Index (.SPX) , opens new tab hit a record high of 6,532.65 points in early trade before pulling back to be down 0.32%. The Dow Jones Industrial Average (.DJI) , opens new tab also hit a record high in the first few minutes of the trading day before retreating 0.5%, while the Nasdaq Composite Index (.IXIC) , opens new tab finished unchanged. In line with expectations of lower rates, the two-year Treasury yield was last down 6.4 basis points at 3.5277%, while the benchmark 10-year yield sagged 8.3 basis points to 4.0934%. Lower Treasury yields weighed on the U.S. dollar, with the dollar index down 0.5% at 97.747 . A softer dollar helped to support the euro, which rose 0.6% at $1.17625 . In Europe, the STOXX 600 (.STOXX) , opens new tab was down 0.2%, the FTSE 100 (.FTSE) , opens new tab was unchanged, and France's CAC 40 (.FCHI) , opens new tab lost 0.3%. Muted equity performance across the board led the MSCI World Equity Index (.MIWD00000PUS) , opens new tab to finish just 0.13% higher. "The warning bell that rang in the labor market a month ago just got louder," Olu Sonola, head of U.S. economic research at Fitch Ratings in New York, said in reference to the U.S. labor market. "A weaker-than-expected jobs report all but seals a 25-basis-point rate cut later this month." Fed Chair Jerome Powell had already reinforced rate cut speculation with an unexpectedly dovish speech at last month's Fed symposium in Jackson Hole. Market sentiment has recovered in recent days after global stocks fell earlier this week and long-dated bond yields in Europe hit their highest in years, as investors became concerned about the state of various countries' finances, particularly Britain and France. Yields eased on Friday, with France's 30-year yield at 4.3873%, down from a peak of 4.523% on Wednesday , and the UK's 30-year yield at 5.553%, after borrowing costs hit their highest level since 1998 earlier in the week. The benchmark 10-year German yield was at 2.7051% . German industrial orders unexpectedly fell in July, data on Friday showed. After months of negotiations, the U.S. signed a deal to impose lower auto tariffs on Japan. The dollar was down 0.7% against the yen, with the pair at 147.5 . Oil prices declined for a third consecutive day, ahead of a meeting of OPEC and allied producers over the weekend. Brent crude futures settled 2.2% lower at $65.50 a barrel, while U.S. crude fell 2.5% to $61.87. The European Union's energy commissioner said the bloc would welcome U.S. President Donald Trump's plan to stop buying Russian oil. Spot gold was up 1.2% at $3,589.01 per ounce, having hit a record $3,597.66 earlier. The metal is now on track for its strongest weekly gain in nearly four months. https://www.reuters.com/world/china/global-markets-wrapup-7-2025-09-05/

2025-09-05 20:22

LUANDA/NEW YORK, Sept 5 (Reuters) - The International Monetary Fund cut Angola's economic growth forecast for 2025 to 2.1% from the previous 2.4% on the back of lower oil exports, the IMF said on Friday, and warned that risks have risen from last year with regard to the Southern African nation's capacity to pay its debts. The IMF said it is critical for Angola to limit its borrowing needs and cut expenses, while greater foreign exchange rate flexibility is also something the country must embrace. Sign up here. The statement follows an IMF board review of the findings of a staff assessment mission to Luanda in May, when the Fund had already cut Angola's growth outlook for this year from an initial 3%. "Angola has been hit by volatility in oil prices and sovereign spreads, and weaknesses in oil production in the first half of 2025, amplifying the impact of those shocks," the IMF said. Like other small, open African economies, oil-exporting Angola has faced challenges this year, when U.S. trade tariffs roiled financial markets. The IMF said Angola's capacity to repay debt remained "adequate" but warned that risks to that view have increased from last year. It cautioned Angola about following two potentially unsustainable financing options: too much domestic debt and costly short-term external debt. "Excessive reliance on domestic financing risks further increasing banks' sovereign exposure," the IMF said, while short-term solutions risk "accumulating onerous debt service, potentially undermining investor confidence, and ultimately delaying market access on more favorable terms." Angola had to pay $200 million in extra security to JPMorgan in April after the price of its bond that serves as collateral for a loan from the Wall Street lender dropped along with other frontier assets. It later got a refund of the cash when the price of that bond rebounded. The visit to Luanda by IMF officials in May was technically a Post Financing Assessment, which is reserved for nations with outstanding credit above their quotas that do not have an IMF-supported program or a staff-monitored program. Angola faces challenges from potentially lower prices of crude oil and tightening external financing conditions, the IMF said after the visit. Its government is also racing to cut the stock of oil-backed loans to China, in an effort to relieve pressure on its finances. https://www.reuters.com/sustainability/sustainable-finance-reporting/imf-cuts-angola-economic-growth-view-again-warns-about-excess-debt-2025-09-05/

2025-09-05 20:21

China extends canola probe to March 2026, citing case complexity Canada risks losing key canola market as China pivots to Australia Analyst suggests deal could resolve tariffs on vehicles and metals BEIJING, Sept 5 (Reuters) - China on Friday prolonged its probe into Canadian canola imports, buying six more months for negotiations that could ease a year-long trade dispute sparked by Ottawa's tariffs on Chinese electric vehicles. The Ministry of Commerce said the anti-dumping probe would now run until March 9, 2026, citing the complexity of the case, a statement showed. Sign up here. Beijing, the world's largest importer of canola, imposed preliminary duties of 75.8% on Canadian canola seed imports in August. A final ruling could result in a different rate, or overturn the decision. Canada's Agriculture Minister Heath MacDonald said in an interview his government is hopeful the Chinese move allows more time for the two sides to resolve trade tensions. "If there's a little more opportunity to have further dialogue, further communication, which we're doing with the appropriate people within the Chinese government, then it's a plus without a doubt," MacDonald said. The Canadian government announced new support for Canada's canola industry on Friday, with subsidies for domestic biofuels production, a pledge to improve biofuels regulations to encourage investment, and subsidized loans for canola growers. Canada's main canola industry organizations also said they were "hopeful" that the extension of the preliminary duties provides time for a longer-term solution. Canada, the world's largest exporter of canola, shipped almost C$5 billion ($3.63 billion) of canola products to China in 2024, about 80% of which were seed. The steep duties on canola seed, if they remain in place, would likely all but end those imports. China, which relies on Canada for nearly all of its canola seed supplies, also imposed tariffs on canola oil and meal in March. Canada, in turn, has imposed tariffs on Chinese steel and aluminum. Ottawa has grown increasingly anxious about losing a key customer, especially as China appears to be pivoting towards Australian supplies. Prime Minister Mark Carney's Parliamentary Secretary Kody Blois and Saskatchewan Premier Scott Moe are heading to China from September 6-9 to meet with Chinese officials and discuss trade issues. Saskatchewan is the prairie province that produces about half of Canada's canola, the majority of which is exported. In July, Reuters reported that Canberra is close to an agreement with Beijing that would allow Australian suppliers to ship five trial canola cargoes to China. The following month, Chinese state-run trading firm COFCO booked the first new-crop Australian canola, marking China's first imports from Australia since 2020. The Winnipeg ICE canola futures market initially rose on Friday after the China news broke, but a trader said some market participants might have been misinterpreting the headline as meaning China had suspended its duties, rather than extending the preliminary duties until March. ICE November canola settled down 0.55%. Canada's canola industry has been hoping for an early resolution to the canola duties and tariffs. https://www.reuters.com/business/energy/china-delays-final-ruling-canola-dispute-with-top-supplier-canada-2025-09-05/

2025-09-05 20:19

TSX ends up 0.5% at 29,050.63 For the week, the index adds 1.7% Materials group gains 2.6% as gold climbs Technology adds 2.4% Sept 5 (Reuters) - Canada's main stock index rose on Friday to another record high, led by gains for technology and gold mining shares, as disappointing U.S. and Canadian jobs data spurred investors to raise bets on interest rate cuts. The S&P/TSX composite index (.GSPTSE) , opens new tab ended up 134.74 points, or 0.5%, at 29,050.63, eclipsing Thursday's record closing high. Sign up here. It was the eighth-straight day of gains for the index, the longest daily winning streak since May. For the week, the index was up 1.7%. "Once again, weak data helped push rate cut expectations," said Angelo Kourkafas, senior global investment strategist at Edward Jones. "We saw a universal message across both the U.S. and Canada with employment numbers coming in weaker than expected ... It really cements the market expectations, first of all for the Fed that it is going to resume rate cuts in September, and for the Bank of Canada that the easing cycle is not over." Investors see a 90% chance the Bank of Canada will resume its easing campaign on September 17 after leaving its benchmark rate on hold at 2.75% since March, and are fully discounting a rate cut that same day by the Federal Reserve. Canada's economy shed 65,500 jobs in August, largely in part-time work, and the unemployment rate climbed to 7.1%. That's the highest level of unemployment since May 2016 excluding the pandemic. The S&P 500 ended lower, contributing to the TSX extending its outperformance this year compared to the U.S. benchmark. "I believe it is the commodity and metals exposure that continues to help the index," Kourkafas said. The materials group (.GSPTTMT) , opens new tab, which includes metal mining shares, added 2.6% as the price of gold rose to another all-time high. Technology (.SPTTTK) , opens new tab was up 2.4%, with shares of electronics company Celestica Inc (CLS.TO) , opens new tab jumping 9.9%. Energy was a drag, falling 1.7%. The price of oil settled 2.5% lower at $61.87 a barrel as expectations grew of higher supply. https://www.reuters.com/world/americas/tsx-adds-daily-winning-streak-weak-data-boosts-rate-cut-bets-2025-09-05/

2025-09-05 20:19

Sept 5 (Reuters) - Utility Southern Co's (SO.N) , opens new tab unit Georgia Power said on Friday it had received approval from the Georgia Public Service Commission for five new solar site power purchase agreements totaling 1,068 megawatts (MW). The new facilities support the company's Clean and Renewable Energy Subscription (CARES) 2023 program, allowing commercial and industrial customers to subscribe to renewable energy to enhance sustainability efforts. Sign up here. The approved projects will be constructed and maintained by third-party companies that won bids in the CARES 2023 Request for Proposal (RFP), which was approved in the 2022 Integrated Resource Plan (IRP) Final Order. The five solar facilities will be located across Georgia, including Mitchell County, Coffee County, Wilkinson County, Jefferson County and Laurens County. Georgia Power said the CARES 2025 RFP, also approved in the 2022 IRP Final Order, was recently issued with bids due in August. The request seeks utility-scale solar or solar-plus-storage proposals to meet a target of up to 2,000 MW of utility-scale solar. These utility-scale solar projects are expected to be fully operational as early as 2028, the company added. https://www.reuters.com/business/energy/georgia-power-receives-approval-1068-mw-new-solar-energy-projects-2025-09-05/