News

Market news: Sources say the leaders of the United States, Japan, Australia, and India will meet in Manila on Tuesday on the sidelines of the ASEAN summit.

The Bank of England's chief economist stated that he will not seek a third term as chief economist after his current term ends in September 2027.

The Bank of England's chief economist said the Bank of England should have raised interest rates before this month.

The Bank of England's chief economist said that delaying increases in borrowing costs would weaken the ability to raise interest rates in small increments.

The Bank of England's chief economist said it will take necessary measures to bring inflation down to 2% over time.

Bank of England chief economist: I am concerned that the impact of inflation will be amplified by a second-round effect.

The Bank of England's chief economist currently expects further rate hikes in 2027, in addition to the rate increase at the next meeting on December 17.

The Bank of England's chief economist said it will take necessary measures to bring inflation back down to 2% over time.

Bank of England Chief Economist: My view is that we will see evidence prompting further interest rate hikes.

Bank of England chief economist: Further interest rate hikes are needed to combat inflation.

Fitch reaffirmed Germany's "AAA" credit rating; outlook remains stable.

According to Iranian media outlet Fars News, the Iranian Army and Navy stated that early this morning local time, an oil tanker ignored prior warnings and entered the dangerous no-navigation zone east of the Strait of Hormuz after disabling its ship tracking and identification systems. It subsequently struck a mine, caught fire, and ceased navigation. The Iranian Navy stated that any oil tanker illegally entering the no-navigation zone east of the Strait of Hormuz will be caught fire due to striking a mine. The Iranian Navy also stated that the tanker owner failed to learn from the experiences of other offending vessels, instead blindly believing the false statements of the US President, thus sending his assets into a minefield, ultimately resulting in their demise—a regrettable situation.

Canadian Foreign Minister: Discussed with Romanian Foreign Minister ways to strengthen cooperation between Canada and Romania in Black Sea security, support regional stability, and expand defense industry partnerships.

Canadian Foreign Minister: It was a pleasure to meet with the Mauritanian Foreign Minister today. Canada is Mauritania's largest foreign investor, and we discussed the possibility of strengthening cooperation in key minerals, regional stability, skills development, and investment. We are working together to ensure the success of the Francophonie Summit in 2028.

Microsoft: (In response to the outage) All services in the previously affected environments have been restored.

According to The Wall Street Journal, a letter from Democratic senators has requested that Elon Musk retain all records related to SpaceX's restrictions on Ukraine's use of Starlink and StarShield satellite services. Following last week's midterm elections, Democrats plan to launch a series of investigations into the Trump administration's handling of the war in Ukraine after taking control of Congress in January. The letter specifically mentions the satellite service outages that occurred from October 13 to 24 and on November 12, which have hampered military operations in Ukraine. Previous reports indicated that Musk ordered a reduction in Starlink service speeds in October, after which President Trump called Musk to request the lifting of the restrictions. SpaceX has denied imposing any restrictions on Ukraine's use of its satellite systems this week. Senators Jeanne Shaheen and Chris Koons wrote in their letter to Musk: "The service restrictions of October and November are now a cause for concern, as even systems upon which the U.S. government relies may continue to have such security vulnerabilities." Koons is expected to become chairman of the Senate Foreign Relations Committee in the new Congress. Shaheen is currently the ranking Democratic member of the committee and plans to retire at the end of her current term. In the letter, Shaheen and Koons stated that SpaceX's speed limit on its Ukrainian satellite service raised "serious questions about SpaceX's control over national security communications channels" and criticized the "vague decision-making" behind the action. They demanded that Musk clarify whether anyone else had authorized the speed limit.

Canadian Prime Minister Carney: Canada and the Philippines have concluded negotiations on a free trade agreement, which is scheduled to take effect next year.

U.S. Transportation Secretary Duffy: The nationwide grounding today is because our air traffic control system is still running decades-old simulators that are simply inadequate for 21st-century needs. Thanks to the $12.5 billion initial funding secured by President Trump, the FAA is modernizing this aging infrastructure, but that's far from enough. We are requesting resources from Congress to build a state-of-the-art air traffic control system. We can no longer afford to patch up a critical system that affects every family. It's time for Congress to act. Give us the funds to fix it. Pass the Modern Skies Act now.

U.S. Transportation Secretary Duffy: I think we'll be back to normal operations when the Thanksgiving travel peak arrives.

U.S. Transportation Secretary Duffy: The nationwide grounding order was lifted at 8:15 p.m. ET. At 3:36 p.m. ET, multiple facilities and terminal radar approach control centers across the country experienced telecommunications problems, prompting the Federal Aviation Administration (FAA) to issue a grounding order out of an abundance of caution. At the time, more than 3,500 aircraft were in the air. Pilots and air traffic controllers safely landed their aircraft according to established procedures, and by 8 p.m. ET, the number of aircraft in the airspace had decreased to below 400. The FAA confirmed that not all radar or telecommunications were lost at the time and exceptionally allowed critical medical evacuation, life-saving cargo, and law enforcement flights to continue operating.