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By Dhara Ranasinghe and Rocky Swift LONDON (Reuters) -Caution prevailed in world markets on Tuesday, with the dollar and equities slipping and gold hitting another record high amid fears a U.S. government shutdown could delay key jobs data. The dollar was broadly weaker, European stocks were lower in early trade and U.S. equity futures fell a day after U.S. Vice President JD Vance said the government appeared "headed to a shutdown" after little progress in budget talks between President Donald Trump and Democratic opponents. A government closure would delay the issue of Friday's key employment numbers, putting the spotlight on the Labor Department's JOLTS report on August job openings due later on Tuesday. It could also complicate the outlook for the Federal Reserve, which cut rates earlier this month.  SHUTDOWN COULD LEAVE FED WITHOUT KEY DATA "We are seeing a bit of concern about how the next few days play out, it seems like both sides are accepting that a shutdown is inevitable," said James Rossiter, head of global macro strategy at TD Securities in London. "The worry here is that if there is a shutdown, it could be long and if we don't get Friday's jobs report or the next CPI number, where does the Fed sit?" he said, referring to U.S. inflation data. The pan-European STOXX 600 index was last down around 0.2%, while Japan's Nikkei closed down 0.25%. MSCI's broadest index of Asia-Pacific shares outside Japan, however, rose almost 0.5%, poised for a gain of over 5% this month. China's blue-chip CSI300 Index also rose almost 0.5%, set for a fifth straight month of gains in its longest such streak since October 2017. A stellar rally in world stocks could ebb if the prospect of a prolonged shutdown emerges, weighing on U.S. economic growth. U.S. stocks look set to end September more than 3% higher, while European shares have gained almost 1% this month. Australia's dollar added to gains after the central bank held policy rates unchanged, as widely expected, and oil prices fell over 1% on prospects for greater production by OPEC+, while China's manufacturing activity shrank for a sixth month in September. ANOTHER RECORD HIGH FOR GOLD U.S. shutdown worries added to gold's stunning rally. The precious metal hit a new record high of $3,820 per ounce and has risen over 12% in September – on track for its biggest monthly percentage gain since November 2009.  Without a deal, a U.S. government shutdown would begin from Wednesday, the same day new U.S. tariffs are set to take effect on heavy trucks, patented drugs and other items.  The White House announced revised tariffs on furniture and cabinets late on Monday that are due to kick in on October 14. All this left the dollar on the defensive. The U.S. currency was down 0.4% at 147.95 yen, the euro was up 0.1% at $1.1742, while the Swiss franc and pound were also a touch firmer against the dollar. The dollar index was last down 0.1% on the day and set to end September little changed on the month. The yen could emerge as an out-performer as a hedge to a U.S. government shutdown, ING currency analysts said in a note. The U.S. JOLTS report is the first of several indicators expected ahead of the September employment report due Friday that is considered key to the Fed's calculations for the timing of rate cuts. A protracted government closure could leave the Fed flying blind on the economy when it meets on October 29, however. Analysts expect JOLTS to show job openings held firm at about 7.18 million in August. In Asian economic data, China's purchasing managers' index rose to 49.8 in September from 49.4 in August, below the 50-mark separating growth from contraction. It suggested producers are waiting for further stimulus to boost domestic demand, as well as clarity on a U.S. trade deal. Elsewhere, the Reserve Bank of Australia left its cash rate steady at 3.60%, saying recent data suggested inflation might be higher than forecast in the third quarter and that the economic outlook remained uncertain. In Europe, data showing inflation rising in four key German states had limited market impact.  Oil stayed weaker due to an anticipated production increase by OPEC+ and the resumption of oil exports from Iraq's Kurdistan region. Brent slipped 1.25% to $67.11 per barrel and U.S. crude fell 1.25 % to $62.66. (Reporting by Dhara Ranasinghe in London and Rocky Swift in Tokyo. Editing by Mark Potter)

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By Enes Tunagur LONDON (Reuters) -Oil prices fell on Tuesday ahead of another anticipated production increase by OPEC+ and as the resumption of oil exports from Iraq's Kurdistan region via Turkey reinforced market expectations of a supply surplus. Brent crude futures for November delivery, expiring on Tuesday, fell 84 cents, or 1.2%, to $67.13 a barrel by 0809 GMT. U.S. West Texas Intermediate crude was trading at $62.68 a barrel, down 77 cents, or 1.2%. The drops extend Monday's falls when both Brent and WTI settled more than 3% lower after their sharpest daily declines since August 1. Selling pressure intensified as OPEC+ sources hinted at another output hike, after prices declined following the resumption of Iraq's Kurdistan region's crude oil exports via Turkey, PVM analyst Tamas Varga said. In a meeting scheduled for Sunday, the Organization of the Petroleum Exporting Countries and allies, including Russia, together known as OPEC+, will likely approve another oil production increase of at least 137,000 barrels per day, three sources familiar with the talks said. "Although (OPEC+ is) under their quota anyway, the market still does not seem to like the fact that more oil is coming in," Marex analyst Ed Meir said. Meanwhile, crude oil flowed on Saturday through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in 2-1/2 years, after an interim deal broke a deadlock, Iraq's oil ministry said. The market has remained cautious in recent weeks, balancing supply risks, mainly arising from Ukraine's drone attacks on Russian refineries, with expectations of oversupply and weak demand. Elsewhere, U.S. President Donald Trump won Israeli Prime Minister Netanyahu's support for a U.S.-backed Gaza peace proposal, but the stance of Hamas was uncertain. In an ideal scenario, shipping traffic through the Suez Canal would return to normal following a Gaza peace deal, which would remove a significant portion of the geopolitical risk premium, PVM's Varga said. Adding to the bearish sentiment, the potential risk of a U.S. government shutdown has raised demand concerns, said ANZ analysts in a note on Tuesday. (Reporting by Enes Tunagur in London, Anjana Anil in Bengaluru and Emily Chow in Singapore; Editing by Muralikumar Anantharaman, Christian Schmollinger and Barbara Lewis)

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By Elviira Luoma COPENHAGEN (Reuters) -Danish jewellery maker Pandora said on Tuesday that CEO Alexander Lacik would retire in March 2026 after seven years at the helm and Chief Marketing Officer Berta de Pablos-Barbier would succeed him. The charm bracelet maker's share price fell 3.0% by 0746 GMT following the surprise announcement and is down 37% year-to-date as the company struggles with weak European sales, rising commodity prices and U.S. import tariffs. De Pablos-Barbier was hired in November last year as a potential future leader of the group, and was the strongest candidate for CEO, Pandora said in a statement. "She is the right person to lead our continued growth, and I am pleased that we can maintain strategic focus and momentum during this smooth and orderly leadership transition," Pandora Chair Peter Ruzicka said. Before joining Pandora, Berta de Pablos-Barbier was CEO of LVMH's champagne brand Moet & Chandon, and in a 30-year career in luxury and consumer goods has also worked at Mars Wrigley, Lacoste and jeweller Boucheron. "Even though we are the largest in our industry, Pandora still holds significant untapped potential," de Pablos-Barbier said in the statement. Under Lacik's leadership, Copenhagen-based Pandora announced in 2021 that it would stop selling mined diamonds, opting instead for lab-made versions to attract younger shoppers with less expensive stones guaranteed not to have come from conflict zones. After a dip in sales during the pandemic, Pandora's revenue has recovered sharply. The group's share price tripled during Lacik's tenure as CEO, which began in 2019. (Reporting by Elviira Luoma; Editing by Terje Solsvik and Kate Mayberry)

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By Ankur Banerjee and Amanda Cooper SINGAPORE/LONDON (Reuters) -The U.S. dollar held steady on Tuesday ahead of a possible U.S. government shutdown that could disrupt the release of the monthly jobs report this week, while the Australian dollar rallied after the central bank struck a cautious tone on inflation.  Investor focus is on the looming U.S. shutdown. Government funding expires at midnight on Tuesday (0400 GMT) unless Republicans and Democrats agree to a last-minute temporary spending deal.  The U.S. Labor and Commerce departments said their statistics agencies would halt economic data releases in the event of a partial government shutdown, including closely watched employment data for September. The payrolls report, crucial for decision-making by policymakers at the Federal Reserve, is scheduled for Friday, and a delay could leave the central bank flying blind on the labour market. Traders are currently pricing in 42 basis points of Fed easing by December and a total of 104 basis points by the end of 2026, about 25 bps less than levels seen in mid-September. "If a shutdown is brief, the Fed will largely ignore it," said Elias Haddad, senior markets strategist at Brown Brothers Harriman. "However, a prolonged shutdown (more than two weeks), increases the downside risk to growth and raises the likelihood of a more accommodative Fed." MUFG strategist Lee Hardman said the dollar was coming under pressure from growing U.S. political uncertainty. The dollar index, which has already fallen nearly 10% this year, was last down 0.1% on the day at 97.785. Losses were most notable against traditional safe-haven currencies that carry lower yields, like the Japanese yen and the Swiss franc. The yen shook off a bout of overnight weakness to leave the dollar down 0.4% at 148.02 yen. Investors considered the Bank of Japan's summary of opinions for its September meeting at which the central bank debated the possibility of a near-term rate hike. Markets show traders currently place a 60% chance on a December rise.     Strategists at ING say selling the dollar against yen could prove a popular play should the U.S. government shutdown materialise. The pair has risen 0.7% this month, as the dollar has muscled higher, but has fallen nearly 6% so far in 2025, as investors have bought into the idea that Japanese rates are likely to slowly rise, while those in the United States fall.  "The dollar has suffered from rising risk of a U.S. government shutdown and falling oil prices since the weekend, with the yen emerging as the top performer," ING's Francesco Pesole said. "A lower dollar/yen may well remain the favourite trade during the shutdown. It lost 1.5% during the 2018-19 shutdown, and is currently trading 1% above its short-term fair value, according to our model," he said. The Swiss franc firmed, pushing the dollar down 0.2% to 0.796 francs, but was steady against the euro at 0.9347 and against the pound. The Australian dollar, meanwhile, was last up 0.4% at $0.6604, after the Reserve Bank of Australia, which has lowered borrowing costs three times this year, held rates steady as expected. The bank said recent data suggested inflation might be higher than forecast in the third quarter and the economic outlook remained uncertain. In Europe, sterling shrugged off data that showed Britain's economy expanded by 0.3% between April and June this year, while the current account deficit grew in the three months to the end of June. The deficit totalled 28.939 billion pounds ($38.8 billion), well above a poll forecast of 24.9 billion pounds and equivalent to 3.8% of GDP, up from 2.8% in the first quarter of 2025. The pound was last up 0.1% at $1.3448 and a touch weaker against the euro, which was up 0.1% at 87.34 pence.  The euro edged up against the dollar to $1.1742. (Additional reporting by Ankur Banerjee in SingaporeEditing by Shri Navaratnam and Lincoln Feast.)

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(Reuters) -China’s state-run iron ore buyer has told major steelmakers and traders to temporarily stop purchases of all new BHP Group cargoes, Bloomberg News reported on Tuesday, citing people familiar with the matter. Reuters could not immediately verify the report. (Reporting by Preetika Parashuraman in Bengaluru; Editing by Jan Harvey)

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By Francesco Guarascio HANOI (Reuters) -Trayton Group signed a deal to relocate most of its furniture production to Vietnam from China the day after Donald Trump was re-elected as U.S. President. New U.S. tariffs would not change the strategy, its head told Reuters. The mid-sized manufacturer, which declined to disclose its revenues, ships 70% of its furniture to the U.S., where its sofas and armchairs are sold either under top retailers' names or with its own Simon Li brand in major chains, including Costco. Trump signed on Monday a document imposing 25% tariffs on wooden furniture from October 14, which could rise next year to 50% for vanities and kitchen cabinets and to 30% for upholstery. He had earlier said the new duties would take effect on October 1. Trayton is exposed to the levy on upholstery, said the company's founder and CEO Simon Lichtenberg, noting that may narrow margins but was likely to be largely absorbed by U.S. consumers who will pay more. The relocation to Vietnam, from where Trayton currently sends to America 50 containers per week, "remains the right strategy," he told Reuters, noting U.S. duties are higher for exports from China, where the company still has most of its international workforce of more than 1,000. China remains the company's hub for research and development, and spare capacity there could allow it to resume production if Beijing managed to lower tariffs on its exports to the U.S., Lichtenberg said. US RELOCATION IS "NEXT TO IMPOSSIBLE" In a posting on Monday on Truth Social, Trump said: "I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States." "It would be next to impossible to produce in the United States" because costs are too high and skilled workers would be hard to find, Lichtenberg said, noting that was out of the question. Jonathan Sowter, head of Jonathan Charles Fine Furniture, a maker of high-quality wood furniture, which employs 2,500 skilled staff in Vietnam and ships about 60 containers a month to the United States, said he would seek to export more to alternative markets. U.S. tariffs would potentially narrow margins, and higher prices were inevitable, he said. However, "we would have zero intention to manufacture in the United States," Sowter added, noting his company's workforce could not be replicated in America. VIETNAM TO BE HIT HARD Trayton's relocation of a large share of its export-bound production to Vietnam followed similar moves by its main Chinese competitors, including Man Wah Furniture and KUKA Home, which have all transferred capacity from China to its southern neighbour in recent years to avoid U.S. tariffs. As a result, Vietnam may be on track this year to surpass China as the main supplier of furniture to the United States, U.S. data show. In the first seven months of this year the Southeast Asian nation shipped furniture worth nearly $8.2 billion to the U.S., accelerating from 2024, whereas Chinese exports slowed to $8.4 billion in the same period. The U.S. is the largest market for Vietnam-made furniture and wooden goods, which in turn are Vietnam's fifth largest export sector to the world's biggest economy. Vietnam-based exporters were shocked when tariffs were first announced, but Lichtenberg was less pessimistic, as he hoped the company's higher-quality products would remain attractive to less cost-conscious buyers. "Consumers are not very sensitive to furniture prices as they buy them only every few years," he said. (Reporting by Francesco Guarascio; additional reporting by Phuong Nguyen in HanoiEditing by Shri Navaratnam)

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By Francesco Guarascio HANOI (Reuters) -Trayton Group signed a deal to relocate most of its furniture production to Vietnam from China the day after Donald Trump was re-elected as U.S. President. New U.S. tariffs would not change the strategy, its head told Reuters. The mid-sized manufacturer, which declined to disclose its revenues, ships 70% of its furniture to the U.S., where its sofas and armchairs are sold either under top retailers' names or with its own Simon Li brand in major chains, including Costco. Trump signed on Monday a document imposing 25% tariffs on wooden furniture from October 14, which could rise next year to 50% for vanities and kitchen cabinets and to 30% for upholstery. He had earlier said the new duties would take effect on October 1. Trayton is exposed to the levy on upholstery, said the company's founder and CEO Simon Lichtenberg, noting that may narrow margins but was likely to be largely absorbed by U.S. consumers who will pay more. The relocation to Vietnam, from where Trayton currently sends to America 50 containers per week, "remains the right strategy," he told Reuters, noting U.S. duties are higher for exports from China, where the company still has most of its international workforce of more than 1,000. China remains the company's hub for research and development, and spare capacity there could allow it to resume production if Beijing managed to lower tariffs on its exports to the U.S., Lichtenberg said. US RELOCATION IS "NEXT TO IMPOSSIBLE" In a posting on Monday on Truth Social, Trump said: "I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States." "It would be next to impossible to produce in the United States" because costs are too high and skilled workers would be hard to find, Lichtenberg said, noting that was out of the question. Jonathan Sowter, head of Jonathan Charles Fine Furniture, a maker of high-quality wood furniture, which employs 2,500 skilled staff in Vietnam and ships about 60 containers a month to the United States, said he would seek to export more to alternative markets. U.S. tariffs would potentially narrow margins, and higher prices were inevitable, he said. However, "we would have zero intention to manufacture in the United States," Sowter added, noting his company's workforce could not be replicated in America. VIETNAM TO BE HIT HARD Trayton's relocation of a large share of its export-bound production to Vietnam followed similar moves by its main Chinese competitors, including Man Wah Furniture and KUKA Home, which have all transferred capacity from China to its southern neighbour in recent years to avoid U.S. tariffs. As a result, Vietnam may be on track this year to surpass China as the main supplier of furniture to the United States, U.S. data show. In the first seven months of this year the Southeast Asian nation shipped furniture worth nearly $8.2 billion to the U.S., accelerating from 2024, whereas Chinese exports slowed to $8.4 billion in the same period. The U.S. is the largest market for Vietnam-made furniture and wooden goods, which in turn are Vietnam's fifth largest export sector to the world's biggest economy. Vietnam-based exporters were shocked when tariffs were first announced, but Lichtenberg was less pessimistic, as he hoped the company's higher-quality products would remain attractive to less cost-conscious buyers. "Consumers are not very sensitive to furniture prices as they buy them only every few years," he said. (Reporting by Francesco Guarascio; additional reporting by Phuong Nguyen in HanoiEditing by Shri Navaratnam)

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By Christine Chen and Renju Jose SYDNEY (Reuters) -Optus's CEO will need more time to get its house in order, the boss of parent Singapore Telecommunications said on Tuesday, after back-to-back emergency call outages in Australia intensified scrutiny of the Australian telecom carrier's governance. The two outages that occurred less than a fortnight apart affected thousands of Australian customers and have been linked to four deaths. The incidents deepen Optus's reputational crisis following a 2022 cyberattack that compromised data on millions of customers, and an A$100 million ($65.8 million) penalty imposed this year for sales misconduct. Singtel boss Yuen Kuan Moon met with Australian authorities on Tuesday morning, amid calls from some analysts and lawmakers for Optus CEO Stephen Rue to resign and Optus to be stripped of its operating licence. Asked by journalists whether Rue still had his support, Yuen said it would take time to fix the problems at the No. 2 Australian telecoms firm. "We brought in Stephen 11 months ago to transform Optus, to really address the issues that we had since 2022-23," Yuen told reporters in Sydney after talks with Communications Minister Anika Wells. "It is very early days. It takes time to transform a company." Shares in Singtel, majority owned by Temasek Holdings, fell as much as 2% in early trade on Tuesday before recovering and were up 0.2% in the afternoon. The latest disruption to Optus' services interrupted emergency triple zero ("000") calls and affected around 4,500 people on Sunday. The company said it was caused by a faulty tower south of Sydney. It came just 10 days after a botched firewall upgrade triggered an outage lasting 13 hours that disrupted emergency calls in two states and the Northern Territory and was linked to four deaths. Optus Chairman John Arthur said the failures were not caused by a lack of investment from owner Singtel. Yuen said the deadly outage was due to a "people issue". "The 18 September incident is due to a people issue and it takes time to transform and change the people," Yuen said. 'VERY SERIOUS' Wells, the communications minister, said there was a "very serious lack of confidence" in Optus to deliver triple zero calls. "The CEO of Optus now needs to work with their parent company Singtel on the systems and holistic change required within their own company to give that confidence back to Australians," she said. She called for an external party to review its systems "so Australians can take advice not just from Optus themselves". In a later statement, Optus said consulting firm Kearney had been appointed to immediately begin providing external oversight, quality assurance and verification of its mobile network. Former Optus CEO Kelly Bayer Rosmarin was ousted over the nationwide outage of Optus services in 2023. Rue took the reins in November 2024 and was tasked with improving service standards for customers. ($1 = 1.5191 Australian dollars) (Reporting by Christine Chen and Renju Jose in Sydney; Editing by Muralikumar Anantharaman, Stephen Coates and Susan Fenton)

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(Reuters) -Kia America is recalling over 39,500 vehicles in the U.S. as the heating, ventilation, and air conditioning (HVAC) blower motor wiring harness may be inadequate causing fire risks, the U.S. National Highway Traffic Safety Administration said on Tuesday. (Reporting by Kanjyik Ghosh in Barcelona; Editing by Mrigank Dhaniwala)

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By Niket Nishant and Manya Saini (Reuters) -Visa said on Tuesday it will start testing a new way for businesses to fund international payments by allowing them to use stablecoins instead of pre-depositing cash in local accounts. The move signals growing acceptance of these digital tokens among major businesses, who have been emboldened by the United States passing the Genius Act, a law that set clear rules for stablecoin issuers. "The Genius Act changed everything. It made everything so much more legitimate. Before that regulatory clarity, all the big institutions were sort of on the fence," Mark Nelsen, head of product for Visa's commercial and money movement solutions, said in an interview with Reuters. The company is working with some unnamed partners and plans to expand the pilot program next year, it said. The pilot initiative will allow banks, remittance firms and other financial institutions to pre-fund accounts with stablecoins instead of traditional currencies. Such a move could make cross-border transactions faster and free up cash, as companies often have to lock funds in multiple currencies worldwide to cover local payouts. Stablecoins are digital tokens designed to keep a constant value. They are often backed by traditional assets such as the U.S. dollar or Treasuries. Their utility in moving money quickly across borders has fueled concerns that they could erode the market dominance of some payment companies and regional banks. "Stablecoins are moving from crypto gimmick to financial plumbing. It's one of the reasons we launched an inverse regional bank exchange-traded fund as I think the regionals are in trouble," said Matthew Tuttle, CEO of Tuttle Capital Management, referring to a fund designed to profit when regional bank stocks decline. Visa's pilot program, however, highlights how some incumbents are focusing on collaboration instead of competition, turning stablecoins into a tool to reinforce their own infrastructure. "The amount of software and technology that's been deployed globally for payments is hard to recreate. So it seems more likely to just incorporate stablecoin technology into existing flows," Nelsen said. (Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Leroy Leo)

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