U.S. Senate up for grabs as Republicans move toward House majority

Thursday, November 10, 2022

by Linda Noakes

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Biden says he plans to run again, Moscow orders a retreat from Kherson, and crypto markets are crushed

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A pedestrian crosses Pennsylvania Avenue as the sun rises over the Capitol in Washington, November 9, 2022. REUTERS/Tom Brenner

U.S.

Republicans edged closer to securing a majority in the U.S. House of Representatives while control of the Senate hinged on a few tight races, two days after Democrats staved off an anticipated 'red wave' of Republican gains in midterm elections.

Republicans have captured at least 210 House seats, Edison Research projected, eight short of the 218 needed to wrest the House away from Democrats and effectively halt President Joe Biden's legislative agenda.

Control of the Senate may once again be decided in Georgia, weeks after Election Day as a tight race between Democratic incumbent Raphael Warnock and Republican challenger Herschel Walker was headed to a December 6 runoff.

Biden said he intends to run for re-election and would likely make a final decision by early next year. Donald Trump emerged from the midterms with a tarnished reputation as a Republican kingmaker, after poor performances by some of his high-profile endorsements.

Maxwell Frost had just been elected to represent Florida in Congress when the 25-year-old received a call that embodied the historical moment. "Still thinking about that 'please hold for the President' call last night," Frost tweeted. "Life is wild!"

Ukrainian servicemen fire a 2S7 Pion self-propelled gun on a frontline in Kherson region, November 9, 2022. REUTERS/Viacheslav Ratynskyi

WORLD

Ukrainian troops advanced in the south after Moscow ordered one of the war's biggest retreats, though Kyiv remained publicly wary, warning that fleeing Russians could turn Kherson into a "city of death". Here's what you need to know about the conflict right now.

China's COVID outbreak continued to widen, with new case numbers at their highest since April and authorities in the hard-hit southern metropolis of Guangzhou urging residents to work from home but stopping short of a city-wide lockdown.

Afghan women were stopped from entering amusement parks in Kabul after the Taliban's morality ministry said there would be restrictions on women being able to access public parks. Since taking over last year, the Islamist Taliban have said women should not leave the home without a male relative and must cover their faces.

France said it would allow an NGO ship carrying over 200 migrants rescued in the Mediterranean to dock at the port of Toulon, following tense exchanges with Italy whose attitude Paris said it bitterly regrets.

Top Iranian actress Taraneh Alidoosti has posted a picture of herself on Instagram without a headscarf to express support for nationwide anti-government demonstrations, another sign that the protest movement is gaining support from all layers of society.

Traders work on the floor of the New York Stock Exchange, November 9, 2022. REUTERS/Brendan McDermid

BUSINESS

Share markets edged down and the dollar held onto overnight gains ahead of U.S. inflation data that will influence the Federal Reserve's rate plans, while the likely collapse of a major crypto exchange rattled investors.

FTX Chief Executive Officer Sam Bankman-Fried told employees he was exploring all options for his firm after a deal with cryptocurrency exchange Binance collapsed. Read our exclusive report on FTX's fall, battling billionaires and a failed bid to save crypto.

British employers cut their hiring of permanent staff via recruitment firms for the first time in nearly two years in October as the country's political upheaval added to concerns about the economy, a survey showed. Britain's asset managers have called on company bosses to steer clear of inflation-busting pay rises as the country grapples with a cost-of-living crisis.

Britain's National Grid and British Gas-owner Centrica raised their earnings expectations for the year, as the power companies benefit from persistently high energy prices caused by the Russia-Ukraine conflict.

The German government blocked prospective Chinese investment in two domestic semiconductor producers after the moves raised concerns over national security and the flow of sensitive technological know-how to Beijing.

Apple supplier Foxconn said it expected smartphone revenue to fall this quarter and is adjusting production to prevent recent COVID curbs at a massive iPhone factory in China from impacting holiday orders.

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