Plus, Venezuela's Maria Corina Machado wins the Nobel Peace Prize.

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Daily Briefing

Daily Briefing

By Linda Noakes

Hello. Today we're monitoring the progress of the Gaza ceasefire deal and the latest political ructions in Japan, Peru and France.

Plus, Taiwan unveils a 'T-Dome' air defense system to counter the threat from China.

 

Today's Top News

 
Palestinians walk through a damaged neighborhood in Gaza City

Palestinians in Gaza City. REUTERS/Ebrahim Hajjaj 

  • Thousands of displaced Palestinians streamed back towards their abandoned homes after a ceasefire between Israel and Hamas went into effect and Israeli troops began pulling back from parts of Gaza. Follow our live coverage here.
  • New York Attorney General Letitia James, a longtime foe of President Donald Trump, was charged with lying on a mortgage application, as the administration steps up its use of government power against his perceived political enemies.
  • Sanae Takaichi's bid to become Japan's first female prime minister was thrown into doubt when her ruling party's junior coalition partner quit.
  • Peru's lawmakers swore in Congress chief Jose Jeri as the country's new president less than an hour after unanimously voting to remove President Dina Boluarte, as anger mounted over rising crime and accusations of corruption.
  • President Emmanuel Macron will convene a meeting of France's mainstream political parties ahead of a self-imposed deadline to name a new prime minister.
  • Taiwan will build a new multi-layered air defense system called 'T-Dome' to defend itself against enemy threats and increase defence spending, President Lai Ching-te said, calling on China to renounce the use of force to seize the island.
  • A powerful earthquake of magnitude 7.4 struck offshore in the southern Philippines, killing at least two people, while towns near the epicenter suffered structural damage and authorities warned of strong aftershocks.
 

Business & Markets

 
A chart showing continued filings for unemployment benefits by federal workers
  • The number of Americans filing new applications for unemployment benefits increased again last week, economists estimated, hinting at some early layoffs of contractors related to the government shutdown.
  • The influential New York Federal Reserve President John Williams signaled he would be comfortable with cutting interest rates again, voicing what appears to be a dominant view at the Fed despite some policymakers' qualms about rising inflation.
  • More global investors are rotating into non-US 'value' stocks, fund managers say, as stretched US valuations, rising fiscal strains, and weakening cash flow forecasts make rallying American equities look comparatively less attractive.
  • Short-bias exchange-traded funds, which bet against stock indexes and fast-rising sectors like technology and artificial intelligence, are drawing strong inflows as lofty prices and policy risks spur some investors to position for a pullback.
  • A return of fund inflows into renewable energy stocks is helping to breathe new life into these companies' shares, powering their strongest quarterly rise since the sustainability boom early this decade.
 

The Week Ahead

  • Major US banks report financial results in the coming week as the third-quarter earnings season kicks into high gear with investors counting on solid profits to support record-high stock prices.
  • Policymakers head to Washington for the annual International Monetary Fund and World Bank meeting featuring Group of Seven and G20 finance ministers and central bank governors gathering on the sidelines.
  • Argentina's President Javier Milei will meet Trump in the Oval Office as final details of Washington's $20 billion lifeline for Buenos Aires are eagerly anticipated.
  • Here's your week ahead in markets.
  • NATO's annual nuclear deterrence exercise starts next week, sending "a clear signal to any potential adversary that we will and can protect and defend all allies against all threats," Secretary General Mark Rutte said.
  • In Africa, Cameroonian President Paul Biya is running for an eighth term that could keep him in office until he is nearly 100. Read our story on Biya's Rolex-loving daughter defying him on TikTok.
 

Maria Corina Machado wins Nobel Peace Prize

 
Maria Corina Machado gestures at a protest ahead of the inauguration of President Nicolas Maduro for his third term

Maria Corina Machado gestures at a protest ahead of the inauguration of President Nicolas Maduro for his third term. REUTERS/Maxwell Briceno

Venezuelan opposition leader Maria Corina Machado won the Nobel Peace Prize for promoting democratic rights in her country and her struggle to achieve a transition to democracy, the Norwegian Nobel Committee said.

Gwladys Fouche joins the Reuters World News podcast from Oslo to explain how Machado's win is overshadowed by a months-long campaign by Trump for the prize. 

Read more
 

Photos of the Week

Law enforcement officers stand amid smoke from a smoke grenade released to disperse demonstrators in Portland, Oregon

Law enforcement officers stand amid smoke released to disperse demonstrators in Portland, Oregon. REUTERS/Carlos Barria

See a selection of our top photography from around the world this week.