The most important world events of the past 24 hours
US midterm voting day: first polls close, results may take days
🐱 Scout US anchor · US midterm election day
Americans voted on November 3 in midterm elections deciding all 435 House seats, 35 Senate seats and 36 governorships, with the first polls closing at 6 p.m. ET in Indiana and Kentucky and more states closing from 7 p.m. ET. More than 57 million ballots had been cast before Election Day, a midterm record, while Election Day itself was largely uneventful apart from ballot-scanner failures in New York's Westchester County, flood-related relocation of at least 20 polling places in central Florida and bomb threats in Toledo, Ohio. No results had been reported as polls began to close, and final control of Congress could take days or even weeks to confirm.
Background: Final polls showed Democrats leading the national congressional ballot by about 8–9 points, but Senate control still hinges on a handful of tight races.
Spain's transport minister resigns : 69 dead in train crash, Puente quits November 29 election race
🐱 Scout anchor · Spain's transport minister resigns
Spain's Transport Minister Óscar Puente announced his resignation on Tuesday after testifying before parliament's Permanent Deputation, and withdrew from the November 29 early election, saying a transport minister "cannot remain in office after two accidents of this seriousness in less than a year." Puente said he decided to step down within minutes of learning of the October 28 Urda train collision but stayed on to oversee the emergency response and first compensation and safety measures; the government announced a €30 million aid package for victims' families the same day, along with speed limits on the Madrid–Seville line.
Background: The October 28 crash killed 69 people, the second fatal accident on the same line this year after 46 died in January.
Russian strikes on Ukrainian aid centre and other targets kill at least 38 : UN condemns attacks on population centres
🐱 Scout field reporter · Russian strikes kill at least 38 in Ukraine
Russian strikes over the past 24 hours hit a humanitarian aid centre and shelter in southern Ukraine, a medical facility in Kharkiv and a hospice in Dnipro, raising the death toll to at least 38, with President Volodymyr Zelenskyy warning dozens more could be trapped under rubble. The UN Secretary-General's spokesperson condemned continuing Russian attacks on Ukrainian population centres, citing record civilian casualties including children; the US plan to convene Ukrainian and Russian delegations for trilateral talks in Abu Dhabi on November 10–11 remains unchanged.
Background: The evening edition reported 26 dead at the aid centre; Tuesday's strikes across several sites pushed the single-day toll higher.
Aftermath of US strikes on Iran's Qeshm Island : Iran claims US drone downed, US denies it
🐱 Scout field reporter · Aftermath of US Qeshm Island strikes
After US limited strikes on Iran's Qeshm Island on Monday, Iran's Revolutionary Guard Corps claimed it shot down a US MQ-9 Reaper drone east of the Strait of Hormuz and downed other US reconnaissance drones, claims US Central Command disputed and which remain independently unverified. Iran's deputy foreign minister said Tehran reserves the right to defend itself but downplayed the incident as part of an "ongoing war," while Iran's top security official said Washington's response to Tehran's seven demands was "not satisfactory" and the Strait of Hormuz will reopen only when the US addresses them fully.
Background: The evening edition covered the unannounced limited US strikes and the oil price rebound; the competing drone claims are Tuesday's new exchange.
Political developments and international relations
UK and EU agree draft food-export deal: post-Brexit checks set to go, summit on November 20
The UK and EU have agreed a draft deal of about 200 pages to remove post-Brexit checks on food and agriculture exports, with the text circulated to EU nations for a meeting of EU ambassadors on Wednesday and a UK-EU summit on November 20. The draft would scrap £200 export health certificates, £25 phytosanitary certificates and some inspection fees, allowing fresh sausages, burgers, shellfish from domestic waters and seed potatoes to resume exports to the EU; the UK government claims eventual annual benefits of £5.1 billion, though the deal is not expected to take effect until early 2028.
Background: The food deal is described as the most significant part of the so-called Brexit reset so far, with UK food export volumes to the EU down about 31% since 2019.
Sources: BBC (via republication), The Guardian (via republication) (2 outlets)
South Africa responds to US plan to end AGOA access: 60-day window to keep negotiating
South Africa's Trade, Industry and Competition Minister Parks Tau said on Tuesday that Pretoria was prepared for Washington's plan to terminate its African Growth and Opportunity Act (AGOA) eligibility from January 1, 2027, and would keep negotiating for a trade agreement beyond AGOA. The US cited barriers to American trade and investment, corruption and national-security concerns in notifying Congress and the governments of South Africa and Rwanda; South Africa exported about $1.7 billion under AGOA last year and would face standard most-favoured-nation tariffs rather than a ban on US market access.
Background: The annual eligibility review was led by the Office of the US Trade Representative, and Pretoria says Washington raised new issues outside talks begun in 2025.
Sources: Office of the US Trade Representative (via republication), Moneyweb (2 outlets)
France protest escalation looms : university actions begin Tuesday, Thursday general strike transport unclear
After student organisations rejected last week's government education concessions, university actions began on Tuesday and students will join a nationwide strike and demonstrations on November 5, with rail, education, health and civil-service workers urged to take part. As of Tuesday, rail operator SNCF had not published detailed forecasts for Thursday, and air traffic controllers covered by strike notices could force restrictions or cancellations at Paris Charles de Gaulle and Orly; the education ministry counted only 41 high schools blocked after the Monday return, against student unions' figure of about 150.
Background: The evening edition reported students rejecting the concessions and previewing the Thursday strike; Tuesday's university actions and the pending transport picture are the day's new developments.
Sources: Le Monde, Agence France-Presse (via republication) (2 outlets)
US stocks rebound Tuesday: AI shares lift Nasdaq, South Korea falls 3.6%
US stocks rebounded on Tuesday as heavyweight tech shares lifted the S&P 500 by 0.4% and the Nasdaq by 0.8%, while the Dow fell 0.4%, with investors digesting surprisingly strong US economic data, speculation about US-Iran peace talks and the awaited midterm results. European shares fell 0.6% and UK shares 1.1%, South Korea dropped 3.6% and Brazil fell for a sixth straight day; oil eased about 1% to near four-week lows and gold slipped 0.5%, still below $4,000 an ounce.
Background: Oil plunged more than 7% on Monday on hopes for US-Iran diplomacy, leaving markets cautious ahead of the election results.
China's central bank raises FX deposit reserve ratio to 6% from November 15: cooling a 13-day yuan rally
The People's Bank of China said on Tuesday it will raise the foreign exchange deposit reserve ratio for financial institutions to 6% from 4% from November 15, to strengthen management of foreign exchange liquidity. The move snapped a 13-day winning streak for the yuan in the spot market, its longest since 1995, and triggered its steepest one-day fall in five months; the currency has risen more than 10% against the dollar since President Donald Trump unveiled his tariffs, but remains about 15% weaker than in March 2022.
Background: China's trade surplus is on track to top $1 trillion for a second year, with exports the biggest engine of growth amid chronically weak domestic demand.
Tech companies, research breakthroughs and digital policy
Chinese regulator warns AI investment is overly concentrated, crowding out traditional industries
Xiao Yuanqi, vice head of China's National Financial Regulatory Administration, said on Tuesday at the Hong Kong Monetary Authority's Global Financial Leaders' Summit that global AI investment is "overly concentrated" and crowding out traditional industries by raising borrowing costs. A massive influx of capital into the technology sector and leading firms has driven up leverage and could fuel excessively rapid expansion, he said, weakening traditional firms' capacity for reinvestment and expanded production while heightening credit risks, and policymakers should prepare frameworks for the AI-driven transformation.
Background: The AI investment boom and the recent Wall Street wobble have become a central market concern, with Reuters' Tuesday market review flagging AI-driven rout risks.
Aftermath of Europe's supermarket fridge hack: UK papers say Britain on high alert (single source, unverified)
The cyberattack on refrigeration systems at supermarkets across several European countries continued to reverberate on Tuesday, with UK newspapers reporting Britain on high alert after more than 100 stores in France, Belgium, Luxembourg, Sweden and Ireland saw fridge and freezer temperatures raised abnormally, forcing food off shelves. The evening edition reported Dutch retailer Ahold Delhaize, Carrefour and Sweden's Coop among those affected, with many stores sharing supplier refrigeration systems and the attack path still under investigation. (single source, unverified)
Background: A similar incident in France last month saw refrigeration equipment heated to 50 degrees Celsius and caused a fire.
Sources: BBC newspaper headlines round-up (via republication)
Military developments, security situations and conflicts
Saudi–Houthi drone dispute over Mecca : coalition claims interception, Houthis deny targeting holy city
The Saudi-led coalition said on Tuesday it intercepted and destroyed a drone over the Makkah region in western Saudi Arabia, reporting no casualties or damage, while Saudi authorities called the security of Islam's holiest sites a "red line." Houthi military spokesperson Yahya Saree denied any operation targeting Saudi territory on Tuesday, saying Houthi operations aim at Saudi military installations and oil infrastructure rather than religious sites; Pakistan's prime minister condemned the alleged attempt, and the US updated its Saudi security alert the same day, warning of attacks on civilian airports and critical infrastructure.
Background: The evening edition covered the Makkah-region interception and the US embassy warning; the Houthi denial and wider reactions are Tuesday's new exchange.
US warned Gulf allies to prepare for "short, intense" resumption of Iran war after midterms (single source, unverified)
The Wall Street Journal reported that the US has warned its Gulf allies to prepare for a "short, intense military" resumption of the Iran war after the midterm elections, even as President Trump on Monday downplayed an immediate return to full-scale war and said a deal with Tehran could still happen. Monday's limited strikes on Qeshm Island were not publicly announced, with US officials saying the aim was to avoid signalling an intent to resume major combat operations; Iran says talks continue and Qatar has delivered a new peace proposal covering the Strait of Hormuz, sanctions, frozen assets and the nuclear programme. (single source, unverified)
Background: The US-Israeli war on Iran began in late February and has lasted eight months, with Strait of Hormuz shipping disruption a central market concern.
Sources: Wall Street Journal (via The Times republication)
Cyclone Murasu makes landfall on India's east coast: second storm in a week, no deaths reported so far
Cyclone Murasu made landfall near Ongole in Andhra Pradesh on Tuesday, with sustained winds of 100–110 kph and gusts up to 120 kph, as authorities evacuated thousands of people to safety. No deaths or injuries had been reported so far, though trees and electricity poles were uprooted; the India Meteorological Department forecast heavy to very heavy rain across several districts, Chennai airport reported flight cancellations and train services on the Vijayawada–Ongole–Gudur section were suspended or regulated. It is the second cyclone to hit the region in a week after Cyclone Arnab killed at least six people.
Background: The Bay of Bengal regularly spawns deadly storms on India's east coast, and Murasu was rated a severe cyclonic storm.
Sources: Reuters (via republication), India Meteorological Department (2 outlets)
South Africa local elections: special voting ends, general voting on November 4
Special voting for South Africa's local elections closed on Tuesday after two days (November 2–3) of voting for approved voters, with general voting to follow on November 4. The Electoral Commission kept stations open from 08:00 to 17:00 for special voters while battling more than 700 disinformation complaints; separately, South African new-vehicle sales rose 10.4% year on year to 61,890 units in October.
Background: The vote comes amid the trade dispute over Washington's planned AGOA removal, and results will test parties' grassroots support.
Sources: Electoral Commission of South Africa (via republication), TimesLIVE (via republication) (2 outlets)
China-related news (international media coverage only)
China regulator reportedly tells banks to pause IPOs: stocks suffered worst month in over a decade (single source, unverified)
China's securities regulator has told investment banks to pause initial public offerings and suspended large share sales by existing shareholders until markets recover, the Financial Times reported on Tuesday, citing three people with knowledge of the discussions; Reuters said it could not immediately verify the report. The move follows a sharp selloff that saw the blue-chip CSI300 Index slump 8.5% in October, its worst monthly performance in more than a decade; regulators rolled out stabilising measures on November 2, including swap operations and an upgraded lending facility for listed companies' share buybacks. (single source, unverified)
Background: The stock slide intersects with worries over concentrated AI investment and tighter financing conditions, themes raised by Chinese regulators at the Hong Kong summit the same day.
Sources: Financial Times (via Reuters republication)
China market regulator backs Hong Kong listings, vows crackdown on cross-border capital violations
China will deepen cross-border regulation and provide an institutional environment to support listings of domestic companies in Hong Kong, Li Chao, vice chairman of the China Securities Regulatory Commission, said on Tuesday at Hong Kong's Global Financial Leaders' Investment Summit. China will also crack down on fraud and cross-border capital activities, Li said, as regulators balanced support for listing finance against financial-risk prevention at the same summit where AI investment concentration was flagged.
Background: Hong Kong remains the main offshore listing venue for mainland companies, making cross-border regulatory cooperation a standing financial issue.
