Mexican farmer protest blocks US border bridge

Hundreds of farmworkers and truck drivers blocked the Mexican side of a major border bridge with the United States on Monday as part of an ongoing national farmers’ strike.The protest blocked the Zaragoza-Ysleta International Bridge, which connects the US city of El Paso, Texas with Mexico’s Ciudad Juarez. An estimated 70 percent of trade between the two countries passes through such border crossings.The protest came in response to several reforms in the General Water Law promoted by Mexican President Claudia Sheinbaum, which would ban the sale of concession titles or their transfer. Similar demonstrations were conducted in 16 states across Mexico.”We don’t want them (the government) to monopolize the water and do whatever they want with the permits,” said Gerardo Fierro, one of the farmers at the protest.Protests also saw agricultural workers storm the customs offices in Ciudad Juarez.Javier Jurado, president of an agricultural business, said Sheinbaum’s administration wants to “hijack” the water and leave farmers “defenseless.”Interior Minister Rosa Icela Rodriguez addressed the protests at a press conference in Mexico City, saying that “there is no motive for the protests…unless they are politically motivated.”

Asia markets advance as odds for another Fed rate cut grow

Asian investors on Tuesday welcomed more dovish comments from Federal Reserve officials reinforcing hopes it will cut interest rates next month, while a tech-led rally on Wall Street soothed recent AI bubble worries.After a swoon in recent weeks, optimism appeared to be returning to trading floors as the chances of a third successive reduction in US borrowing costs increases as a weakening labour market offsets stubbornly high inflation. Fed governor Christopher Waller told Fox Business on Monday that inflation was not his main worry and that his “concern is mainly the labour market, in terms of our dual mandate” of the Fed to support jobs and keep a cap on prices.”So I’m advocating for a rate cut at the next meeting.”His comments echoed those of San Francisco Fed president Mary Daly, who told the Wall Street Journal: “On the labour market, I don’t feel as confident we can get ahead of it.”She added that the risk of a bust higher in inflation was a lower risk as the impact of US President Donald Trump’s tariffs had been less than expected.New York Fed boss John Williams said Friday that he still sees “room for a further adjustment” at the bank’s December 9-10 policy meeting.Analysts pointed out that the lack of pushback from the Fed on the remarks suggested boss Jerome Powell backed them and was preparing for another cut. Traders now see about a 90 percent chance of a reduction, having been around 35 percent last week.The prospect of lower borrowing rates pushed Wall Street sharply higher for a second successive day Monday, with the S&P 500 up around 1.6 percent.The Nasdaq charged 2.7 percent higher thanks to a surge in market heavyweights including Alphabet, Meta and Amazon.And the gains continued in Asia, which built on a strong Monday.Hong Kong, Shanghai, Seoul, Taipei, Manila and Jakarta all rallied, though there were pullbacks in Sydney, Singapore and Wellington.Tech firms have enjoyed a revival after suffering a period of selling in recent weeks, owing to concerns that the AI-led splurge this year may have pushed valuations too far and the huge investments made in the sector could take time to come to fruition. While there is debate about whether the advance has more legs, observers say the outlook is more nuanced.”AI remains one of the most powerful forces reshaping markets, but the tone is changing,” wrote Saxo Markets’ Charu Chanana.”Strong earnings from leading chipmakers… reassure investors that demand is real, yet the sharp swings in market reaction show that enthusiasm now sits alongside questions around sustainability, profitability, and execution.”The broad ‘everything goes up’ phase of the AI trade is fading. What replaces it is a more nuanced market: one that rewards fundamentals over narratives.”She added that investors now had to “separate the durable players from those caught up in the momentum”.Sentiment was also given a lift after Trump praised “extremely strong” US-China relations following a call with his Chinese counterpart Xi Jinping.He also said he will visit China in April and that Xi will make a trip to Washington later in 2026.However, he made no mention of the fact that they had spoken about the ever-sensitive issue of Taiwan. China’s foreign ministry said Trump had told Xi the United States “understands how important the Taiwan question is to China”.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: UP 0.4 percent at 48,815.27 (break)Hong Kong – Hang Seng Index: UP 1.2 percent at 26,031.67Shanghai – Composite: UP 1.1 percent at 3,877.86Euro/dollar: UP at $1.1526 from $1.1523 on MondayPound/dollar: DOWN at $1.3109 from $1.3110Dollar/yen: DOWN at 156.68 yen from 156.81 yenEuro/pound: UP at 87.92 pence from 87.91 penceWest Texas Intermediate: DOWN 0.2 percent at $58.73 per barrelBrent North Sea Crude: DOWN 0.2 percent at $63.23 per barrelNew York – Dow: UP 0.4 percent at 46,448.27 (close)London – FTSE 100: DOWN 0.1 percent at 9,534.91 (close)

US stocks rise again on AI rebound, revived Fed rate-cut hopes

Wall Street stocks rallied Monday, extending a rebound as fresh hopes for a US interest-rate cut boosted sentiment after last week’s rollercoaster ride fueled by worries of an AI tech bubble.Tech giants enjoyed outsized gains, led by Google parent Alphabet after the company’s latest artificial intelligence offering scored strong reviews.Alphabet soared 6.3 percent, while the Nasdaq piled on 2.7 percent following gains by Apple, Tesla and other tech giants.Monday’s buoyant session “ties back to the whole idea that the AI trade still has life in it,” said Briefing.com analyst Patrick O’Hare.”The heart of the rebound we’re seeing today” is because the market was “rethinking” its earlier skepticism on whether there would be another rate cut in December, he added.US equities had also enjoyed a solid session on Friday following comments from New York Fed President John Williams that signaled the central bank could cut interest rates in December.On Monday, Federal Reserve Governor Christopher Waller told Fox Business that he was advocating for a rate cut next month, pointing to a “still weak” labor market.Major European markets were a little more cautious. Frankfurt closed 0.6 percent ahead after German business sentiment fell more than expected in November, the latest sign that industry is losing faith in the government’s plans to revive the economy.London ended narrowly negative, while Paris closed down 0.3 percent.Earlier, Hong Kong closed up 2.0 percent and Tokyo was shut for a Japanese public holiday.Wall Street indices have surged to multiple records in 2025 thanks in part to bullish sentiment about AI. The strong performance has also been supported by easing Fed policy and lately by the market’s judgment that US President Donald Trump’s tariffs have not had as much of a negative impact as initially feared.But recent weeks have nonetheless seen investors grow increasingly fearful that the vast sums pumped into tech may have been overdone and could take time to see profits realized, leading to warnings of a possible market correction.That has been compounded by uncertainty over whether the Fed will cut rates for a third successive time next month, although the latest comments from central bankers boost those odds.Focus is now on the release this week of the US producer price index, one of the last major data points before officials gather, with other key reports postponed or missed because of the recent government shutdown.Trading volumes in New York are expected to be lighter than usual. The market will be closed for Thursday’s Thanksgiving holiday, followed by a half session on Friday.- Key figures at around 2115 GMT -New York – Dow: UP 0.4 percent at 46,448.27 (close)New York – S&P 500: UP 1.6 percent at 6,705.12 (close)New York – Nasdaq Composite: UP 2.7 percent at 22,872.01 (close)London – FTSE 100: DOWN 0.1 percent at 9,534.91 (close)Paris – CAC 40: DOWN 0.3 percent at 7,959.67 (close)Frankfurt – DAX: UP 0.6 percent at 23,239.18 (close)Hong Kong – Hang Seng Index: UP 2.0 percent at 25,716.50 (close)Shanghai – Composite: UP 0.1 percent at 3,836.77 (close)Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: UP at $1.1523 from $1.1513 on FridayPound/dollar: UP at $1.3110 from $1.3099Dollar/yen: UP at 156.81 yen from 156.41 yenEuro/pound: UP at 87.91 pence from 87.89 penceBrent North Sea Crude: UP 1.3 percent at $63.37 per barrelWest Texas Intermediate: UP 1.3 percent at $58.84 per barrel

Venezuela says US terrorist designation a ‘ridiculous lie’

Venezuela on Monday rejected the US terrorist designation of an alleged drug cartel on its territory as a “ridiculous lie” aimed at paving the way for an “illegitimate” military intervention.A major US military build-up near Venezuela has led to speculation that President Donald Trump is planning to try to topple Venezuela’ Socialist leader Nicolas Maduro.Washington accuses Maduro of heading an alleged Venezuelan drug cartel, “Cartel de los Soles” (Cartel of the Suns), which the United States on Monday designated a foreign terrorist organization (FTO).Venezuela’s foreign ministry on Monday rejected what it called “the new and ridiculous lie from Secretary of State Marco Rubio” which it said aimed “to justify an illegitimate and illegal intervention against Venezuela.”On Tuesday, the top US military officer, Dan Caine, will visit the small Caribbean nation of Trinidad and Tobago, a US ally situated a few miles from Venezuela that recently hosted US troops for training exercises.The US embassy said that the visit by the chairman of the joint chiefs of staff would focus on “countering illicit trafficking and transnational criminal organizations.”The visit is part of a months-long campaign of maximum pressure on Maduro, whose reelection last year was widely dismissed by the international community as fraudulent.Maduro appeared at two public events on Monday without mentioning the designation, instead reiterating that Venezuela will remain triumphant. “Whatever they do, wherever they do it, however they do it, they will not be able to defeat Venezuela. We are invincible,” Maduro said during his weekly television program.The US has deployed the world’s largest aircraft carrier and other military forces to waters near Venezuela as part of a stated campaign to dismantle Latin American drug trafficking routes.The Trump administration claims that the Cartel of the Suns is a drug trafficking syndicate run by Maduro and has issued a $50 million reward for the president’s capture.But Venezuela and countries that support it insist no such organization even exists. Several Venezuela experts say what Washington calls the Cartel of the Suns refers to the corruption of senior officials by criminal gangs.- Flights cancelled -US forces have killed at least 83 people in strikes on boats accused of ferrying drugs from Latin America towards the United States since September, according to an AFP tally of publicly released figures. No evidence has been made public that drugs were on board, and experts say the strikes are likely illegal even if the targets were proven to be drug traffickers.The terrorism designation will give Washington legal cover for more pressure on the Venezuelan authorities.The Trump administration has been vague about how far it is willing to go in Venezuela, but the huge military build-up and regular killings of people in small boats have rattled nerves — and prompted concerns in Washington that the US military may be breaking the law.On Saturday, six airlines announced they were canceling flights to Venezuela due to safety concerns.The US Federal Aviation Administration on Friday urged civilian aircraft in Venezuelan airspace to “exercise caution” due to the “worsening security situation and heightened military activity in or around Venezuela.”burs-cb/jgc/sla

Trump redistricting gamble teeters as Democrats gain ground

President Donald Trump’s bid to lock in Republican rule in next year’s US elections with an unprecedented mid-decade redistricting sweep could be coming undone — and threatening to gift Democrats an unexpected advantage.Breaking with political tradition, the president has pressed conservative states to redraw their congressional maps years before the next census, arguing that Republicans are “entitled” to grow their thin majority in the US House of Representatives.His party initially seemed well positioned — they control more state legislatures and map-drawing processes — but the strategy has stumbled.Democrats, once bracing for losses in a redistricting arms race, are now hopeful of netting around five seats — and possibly more — as courts and state officials weigh in.The biggest blow came last week when a federal court struck down Texas’s new map, which would have generated up to five additional Republican-friendly seats for the 2026 midterm elections.Democrats’ momentum was partially checked Friday when the conservative-majority US Supreme Court allowed Texas to put its disputed map back into effect while justices review the case. But the effort remains mired in uncertainty.”No one is going to win the redistricting battle,” said Republican political writer Patrick Payton, a pastor and business leader who has served as the mayor of the Texan city of Midland.”It’s a zero-sum game where the executive and legislative branches both seek to manipulate outcomes by re-drawing maps rather than leading and governing in such a way as to gain trust and votes.”The Texas ruling followed a court defeat in Utah and resistance from Republican lawmakers in Indiana, Kansas and New Hampshire who have balked at White House pressure. – Playing with fire? -Frustration is rising, with some arguing Republicans should be concentrating on campaigning, not cartography.”Donald Trump and (Governor) Greg Abbott played with fire, got burned — and democracy won,” California Governor Gavin Newsom declared after the Texas map began running into problems.The Lone Star State’s quick appeal could be viewed favorably by the US Supreme Court, which has previously overturned some rulings that blocked Trump policies.But for now, Democrats are advancing.Voters approved a new map drawn by the party in California, adding as many as five US House seats. In Virginia, Democratic leaders are pushing a plan that could yield two or three more.Combined with the Utah ruling, analysts believe Democrats could be up by nine seats when the maps are all finalized, if Texas goes their way.Republicans have logged their own successes — North Carolina may have added a conservative-leaning seat, and Missouri redrew its map, at Trump’s urging, to eliminate a Democratic district. But both face legal challenges.Elsewhere, progress is slow. Florida’s legislature meets December 4 to consider whether to begin redistricting, and Governor Ron DeSantis has urged voters to “stay tuned.” But the tit-for-tat is accelerating, prompting Democratic countermeasures in blue states.”They started this redistricting fight. We’ll end it,” House Democratic leader Hakeem Jeffries vowed to reporters.Time is short, as candidates need boundaries before party primaries early next year. The Supreme Court’s full ruling on Texas could still come within weeks. Filing deadlines begin December 8, and primaries start in March.- ‘Years of litigation’ -Meanwhile, the high court is weighing a major Voting Rights Act challenge from Louisiana that could shrink the number of Black and Latino majority districts nationwide, potentially giving Republicans a dozen seats.Whether that drama affects the midterms will depend on timing.Lower courts are reviewing maps in multiple states, and voters in New York have sued to change a Staten Island–based district that could hand Democrats another seat.Tensions are also rising in Republican-led states. In Indiana, after Trump attacked local officials over their hesitancy to act, state Senator Greg Goode was “swatted” — a dangerous hoax that summoned armed police to his home.With control of the US House at stake — Republicans hold a narrow 219–213 majority — the risks are enormous. Mid-decade redistricting is unusual, and both parties fear each aggressive move provokes another.”Betting on maximal maps in as many states as possible made sense if courts kept to the sidelines, but… there is a line on racial gerrymandering,” political analyst Michael Ashley Schulman said.”And once you cross it you invite years of litigation that can boomerang into less favorable redistricting.”