SPOT SILVER EXTENDS GAINS, LAST UP OVER 4% TO HIT RECORD HIGH OF $51/OZ
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(Adds Nabiullina quotes in paragraphs 5 and 8, background) By Elena Fabrichnaya SOCHI, Russia, Oct 9 (Reuters) – Russia's central bank will take into account a spike in gasoline prices and its impact on people's inflationary expectations when making decisions on potential interest rate cuts, Governor Elvira Nabiullina said on Thursday. Prices for gasoline, which are tightly monitored by authorities, are up 10.2%, above general inflation, since the start of the year, with the spike in part attributed to a step up in Ukrainian attacks on Russian refineries. Reuters calculations in August showed that Ukrainian attacks and maintenance works reduced Russian oil refining by almost a fifth on certain days. Russia extended a ban on exports of gasoline to keep domestic prices under control. Nabiullina said gasoline was one of the "marker" commodities that impact people's inflationary expectations, an important factor that the central bank's board reviews when making rate decisions. "The rise in gasoline prices could slow down the decrease in inflation expectations. Unfortunately, they remain at an elevated level for now," Nabiullina said. The board will make its next key rate decision on October 24. The central bank hiked interest rates to 21% last year, the highest level since the early 2000s, to fight inflation in an overheated economy. It has cut rates to 17% in several moves this year, saying that inflation is slowing. Nabiullina said the spike in gasoline prices was a "one-off" event that would not have a sustained impact on overall inflation. She said that the central bank still had some room to lower rates further this year. "Currently, the decisions for the remainder of the year are not predetermined. Everything will depend on the development of the economic situation," Nabiullina said. (Reporting by Elena Fabrichnaya. Editing by Andrew Osborn and Mark Potter)
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VIDEO SHOWS: GERMAN NATIONAL SOCCER TEAM TRAINING AHEAD OF WORLD CUP QUALIFIER GAME AGAINST LUXEMBOURG SENDING WITH SHOTLIST, COMPLETE SCRIPT TO FOLLOW SHOWS: HERZOGENAURACH, GERMANY (OCTOBER 9, 2025) (REUTERS – Access all) 1. GERMANY PLAYERS PASSING BALL AROUND 2. MIDFIELDER FLORIAN WIRTZ CONTROLLING BALL WITH CHEST AND PASSING IT TO MIDFIELDER KEVIN 3. VARIOUS OF GERMANY PLAYERS PASSING BALL AROUND 4. MIDFIELDER ALEKSANDAR PAVLOVIC CONTROLING BALL AND PASSING 5. MIDFIELDER FELIX NMECHA PASSING BALL 6. NMECHA AND PAVLOVIC PASSING BALL BACK AND FORTH BETWEEN EACHOTHER 7. VARIOUS OF GERMANY PLAYERS PASSING BALL AROUND 8. GERMANY PLAYERS JOKING WITH EACH OTHER 9. HEAD COACH JULIAN NAGELSMANN WALKING TO PRACTICE 10. GERMANY PLAYERS RUNNING LAPS TOGETHER 11. PLAYERS AND TEAM STAFF WALKING AROUND PITCH 12. GERMANY PLAYERS RUNNING LAPS 13. VARIOUS OF GERMANY PLAYERS WARMING UP 14. VARIOUS OF GOALKEEPERS WARMING UP 15. GOALKEEPER NOAH ATUBOLU DURING WARM-UP 16. VARIOUS OF GOALKEEPERS DURING PRACTICE 17. NAGELSMANN WALKING TO PRACTICE 18. VARIOUS OF TEAM RUNNING LAPS AND WALKING AROUND ON PITCH 19. VARIOUS OF GERMANY PLAYERS WARMING UP 20. TRAINING GROUND
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Swimming offers a range of mental and physical benefits for older adults. London (PA Media/dpa) – Stripping off and diving into a swimming pool can seem daunting, but braving the water could be one of the best decisions you ever make for your mental and physical health. Being a strong swimmer is a key life skill that can come in handy when you least expect it, so it’s important to fine-tune your skills and increase your confidence in the pool – especially later in life. “I’ve seen the difference swimming makes in people’s lives, especially for older adults,” says Emma Kuwertz-Norman, national swim manager at Nuffield Health in the UK. “It’s not just about keeping fit; it’s about feeling confident, staying independent and enjoying life to the fullest. Retirement is the perfect time to work on movement and the pool is one of the safest and most effective places to start.” When you compare swimming to other low-impact activities, like walking or cycling, it really does stand out. “It’s safer for people who struggle with balance, it works more muscle groups, and because our pools are indoors, it’s something you can do all-year round,” says Kuwertz-Norman. If you are apprehensive about taking the plunge, here are five key benefits of taking up swimming in retirement and some tips on how to get started… 1) Takes pressure off the joints “Swimming is kind to the body, especially as we get older,” says Kuwertz-Norman. “The water takes the pressure off your joints, which makes it ideal for anyone dealing with arthritis, osteoporosis, or general stiffness. It’s low-impact but still gives you a full-body workout. “You’re still building strength, improving flexibility, and getting your heart working – all without putting excessive stress on your body.” 2) Improves mental health “Mental health is something I really care about, and one of the things I love most about swimming is how much it supports it,” says Kuwertz-Norman. “It’s not just about physical fitness – it genuinely helps people feel calmer, more in control, and more balanced. “We see it all the time in our pools. People come in carrying the stress of the day, and they leave feeling lighter and more relaxed. Swimming has this brilliant way of helping you reset, both mentally and emotionally.” 3) Creates a sense of community Although swimming is often viewed as a solitary activity, an outdoor pool or a leisure centre offers a shared space which nurtures connection. “One of the things I think sometimes gets missed is just how much of a community swimming creates,” says Kuwertz-Norman. “Whether it’s chatting in the changing rooms, joining a group session, or just being around others in the pool, it brings people together in such a genuine way. “We see it all the time at our sites – friendships forming in the pool, in the café, or just through casual conversations before and after sessions. There are so many swimmer groups who stay for a coffee after their swim, and it becomes part of their routine and a reason to get up, get moving, and connect with others. It gives people structure, purpose, and often leads to lifelong friendships built around something they enjoy and have in common.” 4) Boosts cardiovascular health “Swimming is a fantastic way to improve your cardiovascular health, helping to strengthen the heart, improve circulation and lower blood pressure – all of which help to reduce your risk of cardiovascular diseases,” says Inez Griffin, senior health and wellbeing physiologist at Nuffield Health. 5) Builds muscle strength “Swimming enhances strength, particularly around the core, and also improves our posture, both of which are crucial for maintaining balance and preventing falls,” says Francesca Bagshaw, performance physiologist at Nuffield Health Manchester Institute of Health and Performance. With all those benefits, I bet you are itching to make a splash in your local pool. But if you are a novice swimmer who doesn’t know where to start, here are some tips on how to increase your confidence in the pool safely. Talk to your GP “I’d always recommend speaking to your GP before getting started, especially if you’ve got any health concerns,” advises Kuwertz-Norman. Start slow “If you’re new to swimming or haven’t been in the pool for years, start slow and don’t worry about technique, speed, or what you look like in your costume,” advises Kuwertz-Norman. “Even just walking through the water or using a float to get started can make a real difference. It’s about finding what works for you and building from there.” Consider adult classes “We run adult learn-to-swim programmes that are all about building confidence, step by step,” says Kuwertz-Norman. “We support everyone – from complete beginners who are learning how to float, to competent swimmers who want to improve their technique and swim more efficiently. It’s not a competition – we just want to see more people feeling comfortable and confident in the water.” Start with gentler strokes “For beginners, strokes like breaststroke or backstroke are a great place to start,” suggests Kuwertz-Norman. “They’re gentle, easy to breathe through, and help you find a rhythm. Aqua aerobics and water walking are also brilliant options, especially for improving balance, coordination, and just getting moving in a way that feels good.” The following information is not intended for publication pa dpa coh
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By Nupur Anand NEW YORK (Reuters) -The six largest U.S. banks are expected to report stronger third-quarter earnings next week, catapulted by a rebound in investment banking. JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and Wells Fargo are forecast to benefit from resurgent dealmaking, while a resilient economy keeps borrowers in good shape, propping up consumer and commercial lending divisions. When major lenders begin to announce results on Tuesday, investors will pay close attention to their economic commentary and expectations for investment banking and trading. "There is going to be a lot of focus on any changes in the credit environment, impact of jobs data, and the overall economic outlook," said Mac Sykes, portfolio manager at Gabelli Funds. "Consumer confidence has been lower, the business confidence is still evolving, and we will watch out to see if there are any lingering concerns from the volatility seen earlier this year." M&A BUOYED BY EASING REGULATIONS, RATE CUTS Investment banking has rebounded after stalling earlier this year following President Donald Trump's tariff announcements. Easing regulations and expectations for further rate cuts have also helped unlock mergers and acquisitions, prompting JPMorgan to call this summer one of its busiest for dealmaking. Hiring has also picked up. According to Piper Sandler analysts, 49 deals were announced in the third quarter through mid-September, up from 39 in the second quarter and 32 in the same period last year. Global M&A has reached $2.6 trillion, the highest for the first seven months of the year since the 2021 pandemic-era peak. M&A and initial public offerings have driven the dealmaking surge, while equity capital markets stayed robust. Some analysts remain cautious about the deal revival. "Our view on the M&A cycle is that while the bird may be flapping its wings, it hasn't quite achieved lift-off yet," Chris Kotowski, an Oppenheimer analyst, wrote. That compares with expectations for an "epic M&A boom" at the start of the year that has not materialized. Trading revenues for banks are also expected to grow. "Historically speaking, third quarter tends to be a seasonally slow period for trading … That said, Q3 2025 appeared to buck that trend," analysts at Jefferies wrote. Equities trading volumes were robust, and activity was also elevated in fixed income, currencies, and commodities, Jefferies said. Investors will also focus on forecasts for net interest income, the difference between what banks earn on loans and pay for deposits. NII expectations are likely to be solid as the U.S. economy stays resilient, analysts at Baird Equity Research wrote. The biggest lenders have said U.S. consumers remain in good financial health, and borrowers are continuing to make loan payments. Investors will watch for any changes in borrowers' delinquencies or defaults. "While there are no major concerns on the investment banking and the commercial side of the business, on the consumer side we have seen deposit levels and loan growth have remained static," said Brian Mulberry, portfolio manager at Zacks Investment Management. He is looking for any warning signs in the consumer businesses, and "there are also some growing concerns around potential defaults in some smaller firms." Analysts will also listen to what banks say about loan demand. "Banks are sitting on a huge amount of capital, the macroeconomic environment has held steady, so will wait for management commentary to see if all these things point to a pick up in loan growth in the coming quarters," said Suryansh Sharma, analyst at Morningstar Research Services. Here is what is likely to come from the six biggest U.S. lenders in the third quarter: JPMORGAN CHASE The largest U.S. bank is expected to report on Tuesday that earnings per share rose more than 10%, driven by strong investment banking fees and markets revenue, according to LSEG estimates. JPMorgan told investors at a conference last month that it expects its investment banking revenue to grow in the low double digits for the third quarter. BANK OF AMERICA EPS is likely to jump nearly 17% when it reports earnings on Wednesday, LSEG estimates showed. Investors are looking for clarity on the pace of share buybacks and capital management, which is likely to be addressed at BofA's investor day in November, UBS analysts said. Bank of America expects its investment banking fees to increase 10% to 15% in the third quarter, Chief Financial Officer Alastair Borthwick told investors at the September conference. CITIGROUP Analysts see Citigroup's EPS surging 26%, fueled by capital markets. Citi said earlier its investment banking fees and market revenue are expected to rise by a mid-single-digit percentage. WELLS FARGO Investors are focused on the bank's growth plans after its $1.95 trillion asset cap was lifted by regulators this year. They will also pay close attention to Wells Fargo's NII guidance, which was lowered in July and has since held steady. GOLDMAN SACHS The Wall Street giant is likely to see a nearly 31% increase in EPS, propelled by gains in investment banking and trading, said analysts, who will gauge whether the gains are sustainable. MORGAN STANLEY Morgan Stanley's EPS is estimated to rise by more than 11%. "We believe the strength of the combined franchise across capital markets and the various wealth channels, a global footprint, and strong earnings generation creates a competitive advantage that should allow Morgan Stanley to outperform peers on revenue growth over the medium-term," Ebrahim Poonawala, a BofA analyst, wrote. Bank Q3 EPS estimates JPMorgan 4.83 Bank of 0.95 America Citigroup 1.90 Wells 1.54 Fargo Goldman 10.99 Sachs Morgan 2.09 Stanley Source: LSEG (Reporting by Nupur Anand in New YorkEditing by Rod Nickel)
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By Chris Kirkham, Rachael Levy and Abhirup Roy LOS ANGELES (Reuters) -When Tesla directors offered Elon Musk the biggest executive pay package in corporate history in September, it reassured investors that he would have to achieve the equivalent of “Mars-shot milestones” to earn $878 billion in Tesla stock over 10 years. The board’s proposal said Musk would have to “completely transform Tesla and society as we know it” in robotics and autonomous driving as well as stock value and profits. Conversely, Musk would get “zero” unless he meets those “incredibly ambitious” goals. Yet Musk could reap tens of billions of dollars without meeting most of those targets, according to a Reuters analysis of his performance goals and more than a dozen experts in executive pay, company valuations, robotics and automotive trends including autonomous driving. He could collect more than $50 billion by hitting a handful of the board’s easier goals that won’t necessarily revolutionize Tesla’s products or business, the Reuters review found. Even hitting just two of the easiest targets, along with modest stock growth, would net Musk $26 billion, more than the lifetime pay of the next eight best-paid CEOs combined, a group that includes Meta Platforms' Mark Zuckerberg, Oracle co-founder Larry Ellison, Apple's Tim Cook, and Nvidia's Jensen Huang, according to an analysis for Reuters by research firm Equilar. Musk’s vehicle sales goals are exceptionally easy to achieve, according to four automotive experts. If Musk sells 1.2 million cars a year over the next decade, on average, he earns $8.2 billion in stock if Tesla’s market value grows from $1.4 trillion today to $2 trillion in 2035, well under long-term market-average growth. That’s a half-million fewer cars per year than Tesla sold in 2024. On Tuesday, Tesla unveiled lower-cost versions of its best-selling Model Y SUV and Model 3 sedan to reverse falling sales. Three other product-development goals are written in vague language that could provide Musk hefty payouts without significantly boosting profit, according to six robotics or autonomous-driving industry experts who reviewed Musk’s goals for Reuters. Tesla and Musk did not respond to requests for comment. In a statement, a spokesperson for the Tesla board said: "The proposed pay package is actually worth zero to our CEO unless and until the shareholders see the value of the company nearly double and an operational milestone is met." The board’s pay proposal requires Musk to remain a Tesla executive for at least seven-and-a-half years to collect any stock compensation. Musk, however, would get the voting rights associated with the share awards as soon as he earns them. Musk said last month on his social media platform X that the package is “not about ‘compensation,’ but about me having enough influence over Tesla to ensure safety if we build millions of robots.” In its proposal, the board said Musk is “motivated by more than just conventional forms of compensation.” SELF DRIVING CARS, ROBOTAXIS AND ROBOTICS Each goal grants Musk 1% of Tesla stock if he also reaches valuation milestones between $2 trillion and $8.5 trillion. One goal requires 10 million subscriptions to Tesla’s “Full Self-Driving” software, which can’t currently drive itself without human intervention. The goal contains no requirement that Tesla make the system fully autonomous, instead requiring only an “advanced driving system.” That’s a “made-up term” with no industry-standard definition, said William Widen, a University of Miami law professor specializing in autonomous driving. Autonomous-driving experts say the subscription target might be easily met by dropping the price, currently $8,000 upfront or $99 a month. Tesla’s leading electric-vehicle rival, China’s BYD, already offers a similar system for free. “If I were Musk’s personal employment lawyer, I would like these definitions,” said Matthew Wansley, a professor at New York’s Cardozo School of Law who focuses on autonomous driving. Another goal requires one million robotaxis in commercial operation and specifies cars “without a human driver in the vehicle.” That’s a potentially more restrictive definition but four autonomous-vehicle experts said it could be interpreted to allow for humans controlling vehicles remotely or from the passenger seat – as Tesla does now in its first small-scale robotaxi test in Austin, Texas. Musk’s employment deal also sets a target of one million robots, an apparent reference to the Optimus humanoid robots Musk has long promised. But the goal doesn’t specify "humanoid" and could be interpreted broadly, two robotics-industry experts said. It defines "bot" as "any robot or other physical product with mobility using artificial intelligence." “It’s a totally vague formulation,” said Christian Rokseth, an analyst with market research firm Humanoid.guide specializing in robotics and artificial intelligence. Investors, he said, are expecting a humanoid robot. MODEST TARGETS WORTH BILLIONS Hitting any two product goals in a decade, along with a $2.5 trillion valuation, pays Musk $26.4 billion in stock. Hitting three targets and a $3 trillion valuation pays him $54.6 billion. That means Musk could earn these amounts without delivering driverless Teslas, the signature product he’s promised for a decade. Gene Munster, managing partner at Tesla investor Deepwater Asset Management, said that despite the loose language in his performance agreement, investors would ultimately hold him accountable for delivering transformational products. “If people start smelling there’s something goofy here, he's in trouble,” Munster said. In its pay proposal, Tesla’s board declared Musk the only person capable of transforming Tesla into an artificial-intelligence juggernaut. The board added that Musk, during negotiations, raised the prospect of “prioritizing other ventures” if he and the board couldn’t agree on compensation. Corporate governance experts said the board is taking a huge risk by so explicitly staking its future on one leader. Wei Jiang, vice dean at Emory University’s business school, said Tesla’s board has granted Musk a “monopoly” on Tesla’s top job. Good corporate governance, she said, requires embracing a “competitive and fluid market for CEOs.” THE HARD PART: PROFITS Musk’s hardest performance targets are likely those involving profit, a measure with no room for interpretation. The directors set eight profit goals between $50 billion and $400 billion in earnings before interest, tax, depreciation and amortization, compared to Tesla’s 2024 earnings of $16.6 billion. Tesla’s EV business, which accounts for almost all its revenue, is deteriorating with aging models facing fierce competition. Its only newer model, the Cybertruck, has flopped. The way Musk’s compensation is structured, however, allows for massive payouts without hitting any profit target. Every goal combined with a market-value increase offers the same 1% stock payout. So Musk gets the same pay for meeting the relatively easy vehicle sales and FSD-subscription goals, for instance, as he would for boosting earnings five-fold to $80 billion. The board’s valuation goals may prove far easier than its profit targets. Tesla’s value could hit $2 trillion, for instance, if shares grow a modest 6.4% annually over the decade following the board’s Sept. 3 pay-package approval. That’s slower growth than the S&P 500’s 8.5% annual average over the past 30 years and less than half the Nasdaq’s 13.2% average. Seth Goldstein, a Morningstar analyst who tracks Tesla, said its valuation could easily hit $3 trillion or more over a decade with market-average performance. He pointed out, however, that Tesla’s value is already largely based on “future products that don’t exist today.” For Musk to claim the biggest payouts o…
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CIMG Inc: * CIMG INC. APPOINTS MR. WENLONG TONG AS ITS PRESIDENT Source text: Further company coverage:
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(Adds details throughout) MEXICO CITY, Oct 9 (Reuters) – Mexico's annual inflation rate quickened in September at a pace slightly below expectations, official data showed on Thursday, and remained within the central bank's target range of 3%, plus or minus a percentage point. Consumer prices in Latin America's second-largest economy rose 3.76% in the year through September, according to national statistics agency INEGI, below the 3.79% increase forecast by economists in a Reuters poll. Consumer prices rose 3.57% in the previous month. The inflation rate remained within the central bank's target range for the third month in a row, bolstering expectations that policymakers would continue to cut interest rates. Mexico's central bank, also known as Banxico, lowered borrowing costs last month for the 10th consecutive time, with its key interest rate reaching its lowest level since 2022 at 7.5%. Consumer prices rose 0.23% in September on a monthly basis, according to non-seasonally adjusted figures, slightly below market forecasts, while the closely watched core index, which strips out some volatile food and energy prices, increased 0.33%, compared with expectations of a 0.32% increase. (Reporting by Aida Pelaez-Fernandez and Ricardo Fieguroa; Editing by Paul Simao)
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VIDEO SHOWS: HIGHLIGHTS FROM 2025 ARM-WRESTLING CHAMPIONSHIP IN BULGARIA / SOUNDBITES OF SOUTH AFRICAN ARMWRESTLER CELESTE SWART AND BULGARIAN ARM-WRESTLER VALENTIN GOSPODINOV COMPLETE SCRIPT TO FOLLOW SHOWS: ALBENA, BULGARIA (RECENT – SEPTEMBER 10-23, 2025) (ICARUS SPORTS – Access all) SHOTLIST TO FOLLOW STORY: TO FOLLOW
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By Anmol Choubey (Reuters) -Gold prices held above $4,000 an ounce on Thursday as investors assessed the Israel-Hamas ceasefire deal, while broader geopolitical and economic uncertainty alongside expectations for U.S. rate cuts sustained bullish sentiment towards the metal. Silver hit the $50 psychological level for the first time, bolstered by gold's record-breaking rally, growing investor demand and a supply deficit. Spot gold was steady at $4,038.59 per ounce at 1226 GMT. U.S. gold futures for December delivery fell 0.3% to $4,057.70. Gold prices rose above $4,000 per ounce for the first time on Wednesday, hitting a record high of $4,059.05. Silver was up 2.2% at $50.01 per ounce. The metal has gained more than 73% this year, benefiting from the same factors as those driving gold's rally as well as tightness in the spot market. "The interesting aspect about the silver market is that the net long positions are only modestly higher so this is not a rally based upon speculative interest. It's got some pretty solid fundamentals attached to this move in the silver price," said independent analyst Ross Norman. U.S. President Donald Trump announced that a ceasefire and hostage deal had been reached between Israel and Hamas under the first phase of his plan to end the war in Gaza. "Gold's rally is facing resistance as the Gaza diplomatic breakthrough reduces risk-off flows, while the ongoing U.S. dollar recovery undermines bullion's strength, leaving it vulnerable to pullbacks," said Nikos Tzabouras, Senior Market Analyst at Tradu. "However, the bullish bias remains intact, and the path to new all-time highs is still wide open." The U.S. dollar index hovered near a two-month high, making dollar-priced bullion more expensive for overseas buyers. [USD/] Geopolitical risks, including the Middle East crisis and the war in Ukraine, alongside strong central bank gold buying, ETF inflows, U.S. rate cut expectations, and economic uncertainties stemming from tariffs, have all contributed to gold's rally. The metal has gained more than 53% year-to-date and is on track to record the largest annual gain since the 1979 oil crisis. Federal Reserve officials agreed that risks to the U.S. job market were high enough to warrant a rate cut, but remained wary amid stubborn inflation, according to minutes of the September 16–17 meeting released on Wednesday. Markets are currently pricing in a 25 basis-point cut in both October and December. [FEDWATCH] "The ongoing U.S. government shutdown has injected momentum into (gold's) trade, alongside mounting fiscal concerns in Japan and France amid recent political leadership changes," UBS said in a note. Non-yielding gold thrives in a low interest-rate environment and during times of economic and geopolitical uncertainty. "If risk sentiment continues to improve, this may drag gold prices lower in the near term as investors rush back toward riskier assets," said Lukman Otunuga, senior research analyst at FXTM. Platinum edged 0.1% higher at $1,664.30. Palladium gained 1.9% to $1,476.35, hitting a more than two-year high. (Reporting by Anmol Choubey in Bengaluru; Editing by Mrigank Dhaniwala, Kirsten Donovan and Ed Osmond)
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