While You Were Sleeping: 5 stories you might have missed, Nov 3

Fed chairman Jerome Powell holds a news conference after the Fed raised interest rates by 0.75 percentage point in an ongoing battle against inflation. PHOTO: EPA-EFE

US Fed delivers another 0.75 point interest rate hike

The Federal Reserve on Wednesday raised interest rates by three-quarters of a percentage point as it continued to battle the worst outbreak of inflation in 40 years.

But it signalled future increases in borrowing costs could be made in smaller steps to account for the “cumulative tightening of monetary policy” it has enacted so far.

Fed chairman Jerome Powell said that change in pace could come as soon as the central bank’s next meeting in December

However, he also cautioned that there remains extensive uncertainty about how high rates will need to go and they could well end up being higher than policymakers had estimated at their last meeting in September.


Bolsonaro supporters urge Brazil military to keep him in power

Thousands of Jair Bolsonaro’s supporters called on Wednesday for the Brazilian military to intervene and keep the right-wing president in power after he lost re-election to leftist Luiz Inacio Lula da Silva.

After days of silence, Mr Bolsonaro on Tuesday gave a short speech in which he neither accepted defeat nor congratulated Mr Lula on his win over the weekend, although his chief of staff took the podium afterwards to say the president had authorised the transition to a new government.

Since then, his supporters have rallied in front of military installations in Brazil’s major cities to call for action.


Vivid pink diamond could go for $50m at Christie’s auction

The largest pear-shaped fancy vivid pink diamond ever put up for auction could sell for up to US$35 million (S$50 million) at a Christie’s sale of rare jewels on Nov 8, the auctioneer said on Wednesday.

“The diamond weighs 18.18 carats, which is of course an extremely fortuitous number for Asian collectors. We’ve had a huge amount of interest around the world already,” said Max Fawcett, head of Christie’s jewellery department in Geneva.

“The colour is exceptional. It’s a true vivid pink and a clean stone. It really, really is a gem and something that we haven’t seen in a long time at Christie’s.”


White House says N. Korea supplying Russia with artillery shells

The United States has information that indicates North Korea is covertly supplying Russia with a “significant” number of artillery shells for its war in Ukraine, White House National Security spokesman John Kirby said on Wednesday.

Mr Kirby told a virtual briefing that North Korea was attempting to obscure the shipments by funneling them through countries in the Middle East and North Africa.

“Our indications are that the DPRK is covertly supplying and we are going to monitor to see whether the shipments are received,” Mr Kirby said, adding that Washington would consult with the United Nations on accountability issues over the shipments.


S. Korea’s Son to have facial surgery, putting World Cup in doubt

Tottenham on Wednesday said forward Son Heung-min will undergo surgery on a fracture around his left eye, putting the South Korean star’s World Cup at risk.

Son was forced off during the first half of Spurs’ 2-1 win over Marseille on Tuesday that secured their place in the last 16 of the Champions League.

“We can confirm that Son Heung-Min will undergo surgery to stabilise a fracture around his left eye,” Tottenham said in a statement.


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