Flash News

TREE NEWS update: UK Prime Minister Burnham said on a BBC interview broadcast on September 30 that rejoining the European Union is one of the options for Britain’s future relationship with Europe. Asked whether he wanted Britain to rejoin the EU, Burnham said Brexit had done more harm than good and that he hoped to see the UK rejoin in his lifetime. He said he would consider different options, including maintaining the status quo, and returning to the customs union and single market.

TREE NEWS reports: US stock index futures all turned lower, with Dow Jones futures down 0.06%, S&P 500 futures down 0.02% and Nasdaq 100 futures down 0.15%. The move marks a reversal from earlier levels across the three major contracts.

TREE NEWS reports: The average US 30-year fixed mortgage rate rose to 7.3%, its highest level since November 2023. The move marks a fresh multi-year high for the benchmark home-loan rate, which tracks long-term Treasury yields and expectations for Federal Reserve policy.

TREE NEWS reports: US mortgage application activity fell 6% in the week of September 25, swinging from a 1.5% decline the prior week. The latest reading marks a sharper contraction in home-loan demand, deepening the prior week’s modest drop.

TREE NEWS update: A reception marking the 77th anniversary of the founding of the People’s Republic of China was held at the Great Hall of the People in Beijing on the evening of September 30. Xi Jinping, general secretary of the CPC Central Committee, state president and chairman of the Central Military Commission, attended and delivered an important speech, saying the system of socialism with Chinese characteristics has shown great advantages and the modernization of China’s governance system and capacity has steadily improved.

TREE NEWS reports: The euro dropped 0.4% against the British pound to 0.85401, marking its weakest level since August 17. The move extends the single currency’s decline versus sterling, with the pair touching the lowest reading in roughly a month.

TREE NEWS update: Li Ming, director of the Ministry of Water Resources’ planning department, said on Sept. 30 at a State Council Information Office briefing that with three months left in the year, the ministry will step up efforts to start 40 major water projects and complete 1 trillion yuan in water infrastructure investment for the full year.

TREE NEWS update: China’s National Medical Products Administration granted conditional approval to Bristol-Myers Squibb Pharma EEIG’s Class 1 innovative drug, aipodumide hydrochloride capsules (trade name Zanfu), via its priority review and approval procedure. The drug is indicated in combination with daratumumab and dexamethasone for adults with multiple myeloma who have received at least one prior line of therapy, including a proteasome inhibitor and an immunomodulatory agent.

TREE NEWS update: The Shanghai Futures Exchange approved Changshu Vitron Warehousing Co.’s application to cancel its pulp futures delivery point located at Xinghua Port Area Road 1 in the Changshu Economic and Technological Development Zone, Jiangsu Province. The decision follows the exchange’s review of the company’s submitted materials under the Shanghai Futures Exchange Delivery Warehouse Management Measures.

TREE NEWS update: Iranian Foreign Minister Abbas Araghchi submitted a US proposal to President Masoud Pezeshkian during a government meeting on Wednesday, government spokesperson Fatemeh Mohajerani said. Araghchi was due to brief the cabinet later Wednesday on his trip to New York and related meetings, including discussions on the Strait of Hormuz.

TREE NEWS reports: The UK Maritime Trade Operations office reported three incidents in the Strait of Hormuz in which an LNG carrier, a tanker entering the strait and a crude oil tanker were each hit by unidentified projectiles. The reports were delayed, the agency said on the 30th. No further details on casualties, damage or the origin of the projectiles were provided.

TREE NEWS reports: Two pilots on a passenger flight from Dubai to Tel Aviv fought mid-air on September 30, prompting an emergency signal and a brief loss of contact, Israel’s Channel 12 reported. Israeli officials cited indications that one pilot tried to seize control and crash the aircraft. A cockpit door was opened and one pilot was stabbed before passengers and crew subdued the other pilot.

TREE NEWS reports: Japan’s Ministry of Finance said Wednesday that the country did not intervene in the foreign exchange market during the period from Aug. 27 to Sept. 28, which covered most of September. No funds were used for yen-buying or selling operations in that window, the ministry’s monthly data showed.

TREE NEWS update: The Los Angeles Olympic organizing committee announced on September 29 that Atlanta will be the first US stop on the torch relay for the 2028 Los Angeles Olympics. The flame will then travel through all 50 states before arriving in Los Angeles. The full route will be published in 2027, with the relay set to begin in spring 2028 and end at the opening ceremony. The LA Games run July 14-30, 2028, and the Paralympics August 15-27, 2028.

TREE NEWS update: Japan’s Chief Cabinet Secretary Minoru Kihara said the government is in close communication with the Bank of Japan at multiple levels and sees no major divergence in views on the economy and prices. The remarks signal continued coordination between the cabinet and the central bank on economic and price assessments.

TREE NEWS update: Western Region Gold said its wholly owned subsidiary Xinjiang Meisheng has temporarily suspended ore processing for about 45 days to adjust monitoring facilities and build a drainage system for phases two and three of its tailings pond. The unit posted 2025 revenue of 1.688 billion yuan and net profit of 176 million yuan, 38.07% of the parent’s net profit. A restart date is not yet certain.

TREE NEWS update: The Bank of England’s Financial Policy Committee said high-risk credit markets, including parts of private credit, remain vulnerable to tighter financing conditions. UK households and businesses remain resilient, and the banking system is well capitalised. The countercyclical capital buffer was held at 2%.

TREE NEWS update: The Bank of England’s Financial Policy Committee said the likelihood of simultaneous financial risks has risen since July, citing longer-lasting supply shocks from higher oil and gas prices and vulnerabilities in frontier AI. The FPC plans to set out proposals for bank leverage ratio reform and gilt repo reform in early 2027, with market-based gilt repo reform intended to mitigate risks from leverage ratio changes. Financial markets have so far shown resilience to rising energy prices and bond yields.

TREE NEWS update: Japanese Prime Minister Sanae Takaichi said the government will strengthen the supply side of the economy and set a clearer path for economic and fiscal policy management. The remarks signal a policy focus on supply-side measures rather than demand stimulus, though no specific figures or timelines were given.

TREE NEWS reports: Two pilots on a passenger flight from Dubai to Tel Aviv engaged in a violent physical altercation mid-flight earlier on September 30, forcing the aircraft to make an emergency landing at an airport in Saudi Arabia, Israeli media reported. No further details on the aircraft, carrier or those on board were given.