- US, Nikkei stock futures, West Texas Crude futures affected
- Cooling issue at CyrusOne data centre in Chicago caused outage
- Traders flying blind without prices, expect market volatility
- Some FX trading resumes on EBS
World
Five key takeaways as Donald Trump hosts UK Prime Minister Keir Starmer
United States President Donald Trump has hosted British Prime Minister Keir Starmer for the first time at the White House for talks about Ukraine’s security, trade relations and the future of the North Atlantic Treaty Organization (NATO).
But Thursday’s meeting hinted at simmering tensions between the US and its allies, as Starmer attempted to tip-toe around points of divergence with the notoriously prickly Trump.
At various points in their public appearances, Starmer offered views that conflicted with Trump’s own – though he was careful never to contradict Trump directly.
The US president seemed to acknowledge the pushback with a joke in his opening remarks at an afternoon news conference.
“You’ve been terrific in our discussions. You’re a very tough negotiator, however. I’m not sure I like that,” Trump quipped.
At times, however, the atmosphere turned brusque. When asked about Trump’s demand that Canada become a US state, Starmer started to press back on the question, only to be abruptly interrupted.
“I think you’re trying to find a divide between us that doesn’t exist,” Starmer began to say. “We’re the closest of nations, and we had very good discussions today, but we didn’t —.”
It was at that point Trump jumped in: “That’s enough. That’s enough. Thank you.”
Here are key takeaways from their get-together at the White House.
An invitation from the king
From the start, there was scrutiny over how Starmer – a former human rights lawyer from the centre-left Labour Party – would interact with the far-right Republican Trump.
But at their initial sit-down inside the Oval Office, Starmer offered an olive branch: a signed invitation from King Charles III to visit the UK.
Trump immediately accepted the offer. Typically, it is rare for US presidents to have two state visits with the British monarch. Trump’s last state visit came in 2019, under the reign of the late Queen Elizabeth II.
Starmer also addressed the differences in his and Trump’s backgrounds directly.
“It’s no secret we’re from different political traditions. But there’s a lot that we have in common,” Starmer said, embracing Trump’s populist streak. “ What counts is winning. If you don’t win, you don’t deliver.”
Trump revealed that he and Starmer had discussed trade behind the scenes, with the commerce between their two countries worth an estimated $148bn as of 2024. The Republican leader appeared hopeful that a deal could be struck “shortly”.
“ We’re gonna have a great trade agreement one way or the other. We’re going to end up with a very good trade agreement for both countries, and we’re working on that as we speak,” he said.
Starmer offers gentle pushback on trade
But Trump’s repeated assertions that US-UK trade relations were unfair earned a gentle rebuke from Starmer.
“Our trading relationship is not just strong. It’s fair, balanced and reciprocal,” the Labour leader said.
Trump, meanwhile, gave space during the meeting for US Vice President JD Vance to revisit his criticism of free speech rights in the UK. Vance had previously irked tensions when – on February 14 at the Munich Security Conference – he blasted the UK and European countries for alleged democratic backsliding.
“I said what I said,” Vance replied on Thursday, as he reflected on his Munich remarks.
“We do have, of course, a special relationship with our friends in the UK and also with some of our European allies. But we also know that there have been infringements on free speech that actually affect not just the British.”
Starmer piped up in response, defending his country’s commitment to democratic ideals.
“We’ve had free speech for a very, very long time in the United Kingdom, and it will last for a very, very long time,” Starmer said. “ In relation to free speech in the UK, I’m very proud of our history there.”
Trump commits to NATO mutual defence pact
Trump’s unconventional and sometimes disruptive approach to diplomatic relations, however, has fuelled fears that the Republican leader may withdraw the US from key alliances.
Chief among them is the NATO alliance, which has historically served as a bulwark against aggression from Russia and the Soviet Union before it.
Trump was asked directly if he still supported Article 5 of NATO’s founding treaty, which requires all members to come to the aid of one another in case of a military attack.
“ I support it,” Trump replied, before adding: “I don’t think we’re going to have any reason for it.”
Starmer, meanwhile, appealed to history to shore up the US-UK alliance, one of the closest diplomatic bonds either country has. He noted that he and Trump would soon celebrate the 80th anniversary of Victory in Europe (VE) Day, when allied forces brought World War II’s European front to a close.
“ We remain each other’s first partner in defence. Ready to come to the other’s aid, to counter threats wherever and whenever they may arise,” Starmer said. “No two militaries are more intertwined than ours. No two countries have done more together to keep people safe.”
Still, he echoed Trump’s calls for European countries to invest more in NATO. Trump has pushed NATO allies to invest at least 5 percent of their gross domestic product (GDP) in bolstering their militaries.
The US, however, puts about 3.4 percent of its GDP into military spending, for a total of about $967bn.
“ I think it’s important for European countries, including the United Kingdom, to step up and do more in the defence and security of Europe and our continent,” Starmer said.
Pushing for peace that does not reward ‘the aggressor’
Key among the security negotiations was the question of Russia’s war in Ukraine.
Three years ago, in February 2022, Russia launched a full-scale invasion of the Eastern European country, expanding beyond the territories it had already seized in regions like Crimea and Donetsk.
The international community largely condemned the invasion. But in recent weeks, Trump has surprised political observers by blaming Ukraine for the war and denouncing Ukrainian President Volodymyr Zelenskyy as a “dictator” for not holding wartime elections.
Trump’s administration has also held peace negotiations directly with Russia, leaving European leaders feeling sidelined.
Starmer broached the deal by first lavishing the US president with praise for pushing peace negotiations forward.
“ You’ve created a moment of tremendous opportunity to reach a historic peace deal, a deal that I think would be celebrated in Ukraine and around the world,” Starmer said, before pivoting to a warning.
“That is the prize, but we have to get it right,” he continued. “It can’t be peace that rewards the aggressor or that gives encouragement to regimes like Iran.”
“History must be on the side of the peacemaker, not the invader. So the stakes, they couldn’t be higher, and we determined to work together to deliver a good deal.”
Trump is set to meet with Zelenskyy at the White House on Friday, where the two leaders are expected to hammer out a deal that would give the US access to Ukraine’s rare earth minerals at Trump’s behest.
It is unclear what security guarantees Ukraine would receive in return. But Trump on Thursday repeatedly described a future where Americans would be “dig-dig-digging” on Ukrainian soil to harvest minerals.
He also justified his negotiations with Russia, emphasising it was important to engage “both sides” of the conflict.
“I think we’re going to have a very successful peace, and I think it’s going to be a long-lasting peace, and I think it’s going to happen hopefully quickly,” Trump said. “If it doesn’t happen quickly, it may not happen at all.”
Starmer reaffirms commitment to two-state solution
Another global conflict was briefly raised as well: Israel’s war in Gaza.
Since January, a delicate ceasefire has taken hold in the Palestinian enclave, which had been battered by 15 months of Israeli bombing, as well as a ground offensive.
More than 48,365 Palestinians have died, though the Gaza Government Media Office puts the estimate as high as 61,709, counting the bodies still buried under the rubble.
A United Nations special committee found that Israel has employed tactics in Gaza that were “consistent with genocide”. Even with the ceasefire, Palestinians continue to die as freezing temperatures ravage the territory, which has few structures left to shelter residents from the cold.
Trump prompted international outcry earlier this month when he announced the US would “take over” Gaza, permanently displacing its residents in favour of building a riviera-style resort.
While Trump posted an AI-generated video this week featuring a rendering of what that resort would look like, he has since backed away from his proposal to “own” Gaza, framing it as a suggestion.
On Thursday, Trump avoided saying anything as incendiary, speaking instead in broad terms.
“We’re working very hard in the Middle East and Gaza and all of the problems. And it’s been going on for years and years and centuries and centuries,” Trump said. “It’s a tough neighbourhood, but it could be a very beautiful neighbourhood, and I think we’re going to come up with some pretty good solutions.”
By contrast, Starmer offered firm support for a two-state solution, one that would acknowledge and guarantee Palestinian sovereignty.
“We have to do everything we can to ensure that the ceasefire continues so that more hostages can be returned, so that aid can be brought in that’s desperately needed. We need to allow Palestinians to return and to rebuild their lives, and we must all support them in doing that,” Starmer said.
“And yes, I believe that the two-state solution is ultimately the only way for a lasting peace in the region.”
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World
Global futures reopen after exchange operator CME suffers multi-hour disruption
SINGAPORE/LONDON, Nov 28 (Reuters) – Global futures markets were disrupted for several hours on Friday after CME Group, the world’s largest exchange operator, suffered one of its longest outages in years, halting trading across stocks, bonds, commodities and currencies.
By 1335 GMT, trading in foreign exchange, stock and bond futures , , as well as other products had resumed, after having been knocked out for over 11 hours, according to LSEG data.
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CME blamed the outage on a cooling failure at data centres run by CyrusOne, which said its Chicago-area facility had affected services for customers including CME (CME.O).
The disruption stopped trading in major currency pairs on CME’s EBS platform, as well as benchmark futures for West Texas Intermediate crude , Nasdaq 100 , Nikkei , palm oil and gold , according to LSEG data.
‘A BLACK EYE’
Trading volumes have been thinned out this week by the U.S. Thanksgiving holiday and with dealers looking to close positions for the end of the month, the outage posed a risk of spurring volatility, market participants said.
“It’s a black eye to the CME and probably an overdue reminder of the importance of market structure and how interconnected all these are,” Ben Laidler, head of equity strategy at Bradesco BBI, said.
“We complacently take for granted much of the timing is frankly not great. It’s month end, a lot of things get rebalanced.”
Still, the timing of Friday’s outage, during a shortened U.S. equity trading session with thinner volumes, helped limit its market impact.
“If there was to be a glitch day, today’s probably a good day to have it,” Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey, said.
Futures are a mainstay of financial markets and are used by dealers, speculators and businesses wishing to hedge or hold positions in a wide range of underlying assets. Without these and other instruments, brokers were left flying blind and many were reluctant to trade contracts with no live prices for hours on end.
“Beyond the immediate risk of traders being unable to close positions – and the potential costs that follow – the incident raises broader concerns about reliability,” said Axel Rudolph, senior technical analyst at trading platform IG.
A few European brokerages said earlier in the day they had been unable to offer trading in some products on certain futures contracts.
“My anticipation is that life goes on but everybody will have yet another look at their data centre arrangements and invest more in ensuring reliable supply because the importance of data center uptime is higher and higher,” Mikhail Zverev, Portfolio Manager at Amati Global Investors in London.
Regulators are tracking the situation, with both the Commodity Futures Trading Commission and Securities and Exchange Commission confirming they are aware of the issue and conducting ongoing surveillance.
BIGGEST EXCHANGE OPERATOR
CME is the biggest exchange operator by market value and says it offers the widest range of benchmark products, spanning rates, equities, metals, energy, cryptocurrencies and agriculture.
Average daily derivatives volume was 26.3 million contracts in October, CME said earlier this month.
The CME outage on Friday comes more than a decade after the operator had to shut electronic trade for some agricultural contracts in April 2014 due to technical problems, which at the time sent traders back onto the floor.
More recently in 2024 outages at LSEG and Switzerland’s exchange operator briefly interrupted markets.
CME’s own shares were up 0.4% in premarket trading.
Reporting by Saqib Iqbal Ahmed and Laura Matthews in New York, Chris Prentice in Washington, Ankur Banerjee, Tom Westbrook, Rae Wee and Florence Tan in Singapore, Amanda Cooper, Lucy Raitano, Vidya Ranganathan and Alun John in London; Toby Sterling in Amsterdam and Pranav Kashyap in Bangalore; Editing by Alison Williams, Elaine Hardcastle and Alistair Bell
Our Standards: The Thomson Reuters Trust Principles.
World
Ukrainian official Yermak resigns as corruption probe encircles Zelenskyy
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Ukrainian President Volodymyr Zelenskyy announced that head of the office of the president of Ukraine, Andriy Yermak, had written a letter of resignation.
“I am grateful to Andriy for always presenting the Ukrainian position in the negotiation track exactly as it should be. It has always been a patriotic position,” Zelenskyy noted, according to a translation of his comments in a video.
ZELENSKYY’S TOP AIDE ANDRIY YERMAK FACES CRITICISM AND SOME PRAISE AS WAR WITH RUSSIA DRAGS ON
Head of the Office of the President of Ukraine Andriy Yermak talks to the press at the U.S. Mission to International Organizations in Geneva, Switzerland, Sunday, Nov. 23, 2025. (Martial Trezzini/Keystone via AP)
“But I want there to be no rumors and speculation. As for the new head of the office, tomorrow I will hold consultations with those who can head this institution,” the foreign leader noted.
Yermak’s home had been raided by anti-corruption investigators.
MOMENTUM BUILDS IN UKRAINE PEACE PUSH, BUT EXPERTS FEAR PUTIN WON’T BUDGE
President of Ukraine Volodymyr Zelenskyy participates in a briefing at the Office of the President following a staff meeting in Kyiv, Ukraine, on Nov. 7, 2025. (Pavlo Bahmut/Ukrinform/NurPhoto via Getty Images)
“Today, NABU and SAPO are indeed conducting procedural actions at my home. The investigators have no obstacles. They were given full access to the apartment, my lawyers are on site, interacting with law enforcement officers. From my side, I have full cooperation,” Yermak noted the Ukrainian-language post on Friday.
‘GOLDEN TOILET’ SCANDAL: ZELENSKYY FACES DEEPEST CRISIS YET AS ALLIES ACCUSED IN $100M WARTIME SCHEME
Ukrainian President Volodymyr Zelenskyy meets with President Donald Trump in Washington D.C., on Aug. 19, 2025. ( Ukrainian Presidency / Handout/Anadolu via Getty Images)
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President Donald Trump’s administration has been aiming to help broker peace between Russia and Ukraine.
Fox News’ Yulia Wallenfang contributed to this report.
World
Which EU countries have the biggest gender investment gap?
Only about one in five tech companies across Europe created between 2020 and 2025 included at least one woman founder, according to the European Commission’s The Gender Investment Gap report.
Even when adjusting for this disparity, companies with female founders also received less investment than firms with male founders.
The highest levels of gender diversity were found in Latvia, at 27%, Italy, at 25.9 %, and Portugal, at 25.2%. These rates represent the proportion of companies with at least one female founder.
In contrast, countries such as the Czech Republic (9%) and Hungary (14.4%) remain well below the European average (19.3%).
Equal participation by women entrepreneurs could increase EU GDP by approximately €600 billion, with countries like Poland seeing growth of 1.6% and the Netherlands up to 5.5% by 2040, according to the 2025 Frontier Economics study.
The gender investment gap refers to systematic disparities between women and men in accessing venture capital and participating in investment decision-making.
Among European small and medium-sized enterprises applying for bank loans, female-owned firms report loan-approval rates about five percentage points lower than male-owned firms. That’s even after controlling for age, size, and sector, according to the European Investment Bank.
Gender disparities also extend to capital ownership and investment behaviour, as data shows women are investing less in retail assets.
Female retail investors currently control about €5.7 trillion in Europe, a figure projected to rise to €9.8 trillion by 2030. If women invested on a parity basis with men, Europe could mobilise an additional €2 to €3 trillion in private investable assets.
“These findings point to an EU-wide economic shortfall well into the hundreds of billions of euros annually – capital that could otherwise be fuelling innovation, employment, green – and digital transitions,” the EC report stated.
What is behind this gender gap?
The gender investment gap has been put down to differences in risk appetite between men and women, as well as societal expectations and financial education.
Historically, entrepreneurship and venture finance have been male-coded domains associated with risk-taking, assertiveness, and individualism.
Decision-making bodies in venture capital and private equity remain male-dominated, reinforcing existing investment patterns.
Societal expectations around women’s caregiving roles and work-life balance continue to influence their access to entrepreneurial networks and capital.
According to the European Commission’s report, even in societies perceived as egalitarian, such as Nordic countries, the assumption that gender equality has already been achieved “can itself act as a barrier – masking ongoing structural biases”.
Across Europe, women also face a “double exclusion” of gender and geography.
European venture capital is mainly based in hubs in London, Paris, Berlin, and Stockholm, which leaves founders in Central, Eastern, and Southern Europe structurally disadvantaged.
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