- Meeting with sanctioned Russian resulted in 28-point plan, say sources
- Witkoff, Kushner were at the meeting, say sources
- Plan has stirred confusion in Washington, Europe
World
Asian stocks are mixed after Wall Street's best week of the year
Asian stocks were mixed Monday as investors ponder the upcoming meeting of the Federal Reserve, following Wall Street’s best week since November with a slight uptick in U.S. stocks Friday.
U.S. futures were higher while oil prices dropped.
Japan’s benchmark index fluctuated in morning trading. The Nikkei 225 shed 15.50 points to 38,047.17 after data showed the core machinery orders, which are used as a leading indicator of capital spending in the coming six to nine months, fell 1.7% year on year in June.
The U.S. dollar fell to 146.44 Japanese yen from 147.58 yen.
Last week, better-than-expected U.S. retail sales figures boosted market confidence and shifted sentiment regarding potential interest rate cuts by the Federal Reserve in September, which could trigger a sell-off of the yen against the dollar and other major currencies. But still, the dollar-yen exchange rate has been on a downward trend over the past weeks.
“The recent turmoil in the foreign exchange market isn’t just about the Bank of Japan’s actions … other factors, like signals from the Federal Reserve about possible rate cuts, weak U.S. job market data, and broader global economic uncertainties, have also contributed to the recent turbulence,” Luca Santos, currency analyst at ACY Securities, said in a commentary.
The market’s focus is on Jackson Hole, Wyoming, where Federal Reserve Chair Jerome Powell will give a speech late in the week and the setting has been home to big policy announcements in the past.
Because the Fed has said its upcoming moves will depend in large part on what data reports at the time say, “it will be difficult for Powell to pre-commit to a particular trajectory at Jackson Hole,” said economists at Deutsche Bank led by Matthew Luzzetti.
But Powell could offer hints about whether the Fed is hoping to merely remove the brakes from the economy through rate cuts or give it an accelerant.
Elsewhere in Asia, Australia’s S&P/ASX 200 rose 0.2% to 7,988.00 and the Kospi in Seoul lost 0.2% to 2,690.83. Hong Kong’s Hang Seng added 1% to 17,611.77, while the Shanghai Composite was up 0.5% to 2,894.57.
Bangkok’s SET increased 0.8% after data showed the country’s gross domestic product in the second quarter increased 2.3% compared to a year earlier, driven by tourism.
On Friday, the S&P 500 rose 0.2% to 5,554.25 for a seventh straight gain and pulled back within 2% of its all-time high set last month. The Dow Jones Industrial Average gained 0.2% to 40,659.76, and the Nasdaq composite added 0.2% to 17,631.72.
Treasury yields eased in the bond market following mixed reports on the U.S. economy. One showed homebuilders broke ground on fewer projects last month than forecast, which threw some cold water on the market. Optimism had been rising earlier in the week following a flurry of better-than-expected reports on everything from inflation to sales at U.S. retailers.
But a report later in the morning suggested U.S. consumers are feeling better about the economy than expected. That’s a big deal for Wall Street because their spending makes up the bulk of the economy.
Even though confidence rose in the economy’s strength following the strong run of reports, it is still likely slowing under the weight of high interest rates.
The question is whether the slowdown in growth will overshoot and become a recession. The hope on Wall Street is that an expected cut to interest rates at the Fed’s next meeting in September will help forestall that.
In the bond market, the yield on the 10-year Treasury fell to 3.88% from 3.92% late Thursday. The two-year yield, which more closely tracks expectations for Fed action, fell to 4.05% from 4.10% late Thursday.
In energy trading, benchmark U.S. crude gave up 16 cents to $75.38 a barrel. Brent crude, the international standard, lost 15 cents to $79.53 a barrel.
The euro has been strengthening against the U.S. dollar. On Monday, it cost $1.1040, inching up from $1.1028.
___
AP Business Writer Stan Choe contributed to this report.
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World
Trump officials’ meeting with Russian in Miami spurs questions about latest Ukraine proposal
WASHINGTON, Nov 22 (Reuters) – U.S. officials and lawmakers are increasingly concerned about a meeting last month in which representatives of the Trump administration met with Kirill Dmitriev, a Russian envoy who is under U.S. sanctions, to draft a plan to end the war in Ukraine, according to multiple sources familiar with the matter.
The meeting took place in Miami at the end of October and included special envoy Steve Witkoff, President Donald Trump’s son-in-law Jared Kushner and Dmitriev, who leads the Russian Direct Investment Fund (RDIF), one of Russia’s largest sovereign wealth funds.
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A close ally of Russian President Vladimir Putin, Dmitriev has taken a leading role in talks with the U.S. about the war and has met with Witkoff several times this year. The Trump administration has issued a special waiver to allow his entry, one senior U.S. official told Reuters.
Dmitriev and his fund were blacklisted by the U.S. government in 2022 following Russia’s full-scale invasion of Ukraine. The sanctions effectively bar American citizens and companies from dealing with them.
The meeting resulted in a 28-point plan for ending the war, two people familiar with the situation said. The plan, which was made public earlier this week by Axios, came as a surprise to U.S. officials in various corners of the administration and has stirred confusion at embassies throughout Washington and in European capitals.
It has also prompted criticism from the Ukrainians and their allies for appearing heavily tilted toward Russian interests, with Ukrainian President Volodymyr Zelenskiy vowing on Friday that he would not betray Ukraine’s interests.
The document, which calls for major concessions from Ukraine, appears to run counter to the tougher stance the Trump administration has lately taken toward Moscow, including with sanctions on its energy sector.
It’s unclear whether Dmitriev came to the meeting in Miami with certain Russian demands and whether those were incorporated into the peace plan.
Two people familiar with the meeting said Rustem Umerov, Secretary of Ukraine’s National Security and Defense Council, was also in Miami early this week to discuss the plan with Witkoff.
One source familiar with the situation said that Witkoff told Umerov about the plan during that visit and that the United States gave the plan to Ukraine via the Turkish government on Wednesday, before directly presenting it in Kyiv on Thursday.
Umerov has described his role as “technical” and denied that he discussed the plan in substance with U.S. officials.
Dmitriev and the Ukrainian embassy in Washington did not immediately respond to a request for comment.
White House spokeswoman Karoline Leavitt said in a statement that any peace plan “must offer security guarantees and deterrence for Ukraine, Europe and Russia” and offer economic incentives to both Ukraine and Russia.
“This plan was crafted to reflect the realities of the situation, and to find the best win-win scenario, where both parties gain more than they must give,” she said.
Trump said on Friday that he expected Zelenskiy to sign onto the plan by the Thanksgiving holiday. The U.S. has warned Ukraine it could curb military assistance if it does not sign, Reuters has reported.
SOME OFFICIALS CAUGHT OFF GUARD
Many senior officials inside the State Department and on the National Security Council were not briefed, the two people familiar with the plan said. Special Envoy for Ukraine Keith Kellogg, who had been working with the Ukrainians on negotiating an end to the war and plans to step down in January, also was cut out of the talks led by Witkoff and Dmitriev, they said.
One senior U.S. official said Secretary of State Marco Rubio was read in on the 28-point plan, but didn’t clarify when he was briefed.
“Secretary Rubio has been closely involved throughout the entire process of developing a plan to end the war in Ukraine. Any insinuation otherwise is completely false. That includes speaking with both sides of this conflict – many times – to facilitate the…exchange of ideas to establish a durable peace,” said State Department Principal Deputy Spokesperson Tommy Pigott in a statement.
U.S. officials and others consulted by Reuters disputed that characterization.
“There was no coordination, no one at State had seen this, not Rubio,” another U.S. official said. The official added that the plan contains material that the secretary of state had previously rejected.
Item 1 of 3 Head of the Russian Direct Investment Fund and Russian special presidential envoy for economic cooperation with foreign countries, Kirill Dmitriev, talks to U.S. President Donald Trump’s special envoy Steve Witkoff during a meeting in Saint Petersburg, Russia April 11, 2025. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS/File Photo
[1/3]Head of the Russian Direct Investment Fund and Russian special presidential envoy for economic cooperation with foreign countries, Kirill Dmitriev, talks to U.S. President Donald Trump’s special envoy Steve Witkoff during a meeting in Saint Petersburg, Russia April 11, 2025. Sputnik/Vyacheslav… Purchase Licensing Rights
The situation has sparked worries inside the administration and on Capitol Hill that Witkoff and Kushner skirted the interagency process and that the discussions with Dmitriev have resulted in a plan that favors Russian interests.
It includes demands that Russia has previously made – that Ukraine give up some of its territory in the eastern part of the country that it still controls, recognize Crimea as Russian and pledge not to join NATO.
“This so-called ‘peace plan’ has real problems, and I am highly skeptical it will achieve peace,” said Senator Roger Wicker of Mississippi, the Republican chairman of the Senate Armed Services Committee. “Ukraine should not be forced to give up its lands to one of the world’s most flagrant war criminals in Vladimir Putin.”
Experts also criticized the proposed deal.
“Putin said today the plan he saw is a ‘basis’ for a future agreement — likely a signal they plan on asking for inclusions and revisions on top of what is already a disadvantageous proposal for Kyiv,” said Dara Massicot of the Russia and Eurasia Program at the Carnegie Endowment for International Peace. “One week seems ambitious for resolution.”
CONCERNS ABOUT DMITRIEV
The administration’s discussions with Dmitriev have also worried some inside the intelligence community, one U.S. official familiar with the matter said.
Dmitriev has previously used his role at RDIF to make inroads with various Western governments and businesses, even amid American sanctions.
The CIA declined to comment about concerns within the intelligence community about Dmitriev.
During the first Trump administration, Dmitriev established contacts with the president’s team to reset relations between Washington and Moscow.
In a 2017 meeting with Erik Prince, the former CEO of Blackwater and a Trump ally, Dmitriev discussed U.S.-Russia relations, according to a Department of Justice report published by Special Counsel Robert Mueller in 2019. Mueller’s team was investigating ties between the Trump team and Russia.
In a separate meeting with a friend of Kushner’s, Dmitriev drafted a reconciliation plan to strengthen ties between the U.S. and Russia, the report says.
The Mueller team said in its report that it did not establish that the Trump campaign coordinated with the Russians to influence the 2016 election.
Dmitriev also worked directly with Kushner during the first administration. During the pandemic, Dmitriev coordinated with Kushner on the delivery of ventilators to the U.S. The ventilators were provided by RDIF and caused concern among officials at the Treasury Department that the U.S. might be violating its own sanctions, according to a senior U.S. official.
In recent years, Dmitriev has appeared on various American television stations and at events like the World Economic Forum in Davos, to promote the strengthening of trade ties between the U.S. and Russia.
He pushed a similar message at the meeting in Miami, according to public readouts of the meeting.
His visit also included a sit-down with U.S. Representative Anna Luna, a Florida Republican. In the meeting, Dmitriev and Luna spoke about increasing trade ties between the U.S. and Russia. Rep. Luna’s office did not respond to requests for comment.
The meeting between the two was set earlier in the month amid statements by Luna that she had received Russia’s JFK files.
In a video by RIA, one of Russia’s state news agencies, Luna is seen accepting a box of chocolates with Putin’s face inscribed on the front.
The images appear to show Luna and Dmitriev in a conference room at the Faena Hotel in Miami.
The Faena Hotel is owned by Access Industries, a company run by Len Blavatnik, a Russian billionaire, according to the company’s website. Blavatnik made his money partnering with Viktor Vekselberg, a Russian billionaire sanctioned by the U.S. for his ties to Putin. Witkoff’s company, the Witkoff Group, does business with Blavatnik, including in Miami.
(This story has been corrected to fix the reference to Umerov as Secretary of Ukraine’s National Security and Defense Council, not defense minister, in paragraph 9)
Additional reporting by Tom Balmforth in Kyiv and Patricia Zengerle and David Brunnstrom in Washington; Editing by Don Durfee and Diane Craft
Our Standards: The Thomson Reuters Trust Principles.
World
Number of children abducted from Catholic school in Nigeria explodes to over 300
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Gunmen abducted 303 children and 12 teachers in an attack on St. Mary’s School, a Catholic institution in Nigeria. Initial reports indicated that at least 52 had been kidnapped before the tally was increased to over 200 children and then to its final count of 303.
Most. Rev. Bulus Dauwa Yohanna said in a statement that the total number of kidnapped was determined “after a verification exercise and a final census was carried out,” according to The Associated Press. Yohanna is the chairman of the Niger state chapter of Christian Association of Nigeria (CAN), who visited the school on Friday. The AP noted that the students who were kidnapped were male and female and ranged in age from 10 to 18.
GUNMEN ATTACK CHURCH IN NIGERIA, KILLING TWO AND KIDNAPPING OTHERS
In this photo released by the Christian Association of Nigeria, a man walks past belongings at the St. Mary’s Catholic Primary and Secondary School after gunmen abducted children and staff in Papiri community in Nigeria on Nov. 21, 2025. (Christian Association of Nigeria via AP)
No group has come forward to claim responsibility for the attack, according to the AP. The outlet added that authorities said tactical squads and local hunters were working to rescue the kidnapped children.
After the attack, the state government said that St. Mary’s School reopened despite warnings of increased threats. However, Yohanna denied this claim, the AP reported.
“We did not receive any circular. It must be an afterthought and a way to shift blame,” he said, according to the AP.
This photo released by the Christian Association of Nigeria shows the dormitories of St. Mary’s Catholic Primary and Secondary School after gunmen abducted children and staff in Papiri community in Nigeria on Nov. 21, 2025. (Christian Association of Nigeria via AP)
RAP STAR NICKI MINAJ THANKS TRUMP FOR ADDRESSING PERSECUTION OF CHRISTIANS IN NIGERIA
The attack at St. Mary’s follows a similar incident earlier this week in which armed attackers kidnapped 25 girls from a boarding school in Nigeria’s Kebbi State and killed at least one staffer. The search for the abducted schoolgirls is still underway.
A woman looks on as she walks past a classroom in Shehu Kangiwa Model Primary School in Argungu, Kebbi State, in northern Nigeria on April 12, 2025. (Leslie Fauvel / AFP via Getty Images)
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Nigeria has seen a series of attacks on Christians and their institutions, prompting President Donald Trump to declare the West African nation a “country of particular concern.” However, the Nigerian government has disputed the U.S.’s claims.
On Tuesday, U.S. Ambassador to the United Nations Mike Waltz held an event highlighting the ongoing violence in Nigeria. During the event, Waltz called the killings of Christians in Nigeria “genocide wearing the mask of chaos.” He was joined by rap superstar Nicki Minaj, who called for religious freedom for all.
The Associated Press contributed to this report.
World
Brazil’s Bolsonaro arrested days before start of 27-year prison sentence
The former president is taken in the capital Brasilia days before starting his prison time for leading coup attempt.
Published On 22 Nov 2025
Brazil’s federal police have arrested former President Jair Bolsonaro, days before he was set to begin his 27-year prison sentence for leading a coup attempt, according to his lawyer and a close aide.
Bolsonaro, who has been under house arrest since August, was transferred to detention on Saturday, his lawyer said.
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“He has been imprisoned, but I don’t know why,” Celso Vilardi, one of his lawyers, told the AFP news agency.
A close aide told The Associated Press news agency that the embattled former leader was taken to the police headquarters in the capital, Brasilia.
Bolsonaro’s aide Andriely Cirino confirmed to AP that the arrest took place at about 6am (03:00 GMT) on Saturday.
The force said in a short statement, which did not name Bolsonaro, that it acted on the request of Brazil’s Supreme Court.
Neither Brazil’s federal police nor the Supreme Court provided more details at the time of publication.
Sentenced for coup attempt
The 70-year-old former president was taken from his house in a gated community in the upscale Jardim Botanico neighbourhood to the federal police headquarters, Cirino said.
Local media reported that Bolsonaro, who was Brazil’s president from 2019 to 2022, was expected to begin serving his sentence sometime next week after the far-right leader exhausted all appeals of his conviction for leading a coup attempt.
The 70-year-old Bolsonaro’s legal team had previously argued that he should serve his 27-year sentence for a botched coup bid in 2022 at home, arguing imprisonment would pose a risk to his health.
Bolsonaro was convicted in September over his bid to prevent President Luiz Inacio Lula da Silva from taking power following the 2022 election, which he lost.
The effort saw crowds of rioters storm government buildings a week after Lula’s inauguration, evoking comparisons with the January 6 riot at the United States Capitol after his close ally, President Donald Trump, lost the 2020 election to Joe Biden.
Trump has branded the prosecution of his far-right ally a “witch-hunt” and made it a major issue in US relations with Brazil, imposing stiff tariffs on the country as a form of retribution.
Trump and Lula held what Brazil described as a constructive meeting on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur last month, raising hope for improved relations after stinging US tariffs.
Lula said the meeting with Trump was “great” and added that their countries’ negotiating teams would get to work “immediately” to tackle tariffs and other issues.
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