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* OPEC+ looking at accelerating November output hike * Eight OPEC+ countries meet on Sunday * OPEC+ JMMC panel also meets on Wednesday; to review compliance (Adds details, context from paragraph 2, reference to OPEC+ JMMC meeting in 8) By Alex Lawler, Olesya Astakhova and Dmitry Zhdannikov LONDON, Sept 30 (Reuters) – OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said two sources familiar with the talks. OPEC+ has reversed its earlier strategy of output cuts and has already raised quotas by more than 2.5 million bpd, or about 2.4% of world demand, to boost market share and following pressure from U.S. President Donald Trump to lower oil prices. Eight OPEC+ countries will hold an online meeting on October 5 to decide on November output. OPEC+ pumps about half of the world's oil and includes the Organization of the Petroleum Exporting Countries plus Russia and other allies. WINDING DOWN LAYERS OF CUTS A 411,000 bpd jump in November would be three times the 137,000 bpd increase that OPEC+ agreed for October. A third source said November’s increase could be as much as 500,000 bpd. A final decision has not been made, the sources added. OPEC+'s total output reductions amounted at their peak to 5.85 million bpd, made up of three different elements – voluntary cuts of 2.2 million bpd, plus 1.65 million bpd by eight members, and another 2.0 million bpd by the whole group. The eight producers plan to fully unwind one element of those cuts – 2.2 million bpd – by the end of September. For October, they started removing a second layer, of 1.65 million bpd, with the increase of 137,000 bpd. Earlier on Tuesday, Bloomberg News reported OPEC+ is considering accelerating output hikes by 500,000 bpd over the next three months. On Sunday, Reuters reported that November's output hike would likely be at least 137,000 bpd. A separate OPEC+ ministerial panel, called the Joint Ministerial Monitoring Committee, meets online on Wednesday and sources said it will discuss the producer group's compliance with oil output quotas. The JMMC does not hold decision-making authority over production levels, OPEC said in July. (Reporting by Alex Lawler, Dmitry Zhdannikov and Olesya Astakhova. Editing by David Goodman and Mark Potter)

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Sept 30 (Reuters) – UK'S CMA: * * COMPETITION AND MKTS – MERGER UPDATE: SUBSEA7 S.A. / SAIPEM S.P.A. * UK'S CMA SAYS START OF MERGER INVESTIGATION IN ANTICIPATED MERGER BETWEEN SUBSEA7 S.A. AND SAIPEM S.P.A. * UK'S CMA MERGER INQUIRY IN SUBSEA7 S.A. / SAIPEM S.P.A. DEAL HAS PHASE 1 DEADLINE OF 25 NOVEMBER 2025 Source text: Further company coverage: [ ]

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TRUMP: HAVE TO GET PUTIN AND ZELENSKIY TOGETHER

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HOUSTON, Sept 30 (Reuters) – An Exxon Mobil spokesperson said on Tuesday that layoffs at Canadian oil producer Imperial Oil, of which Exxon is a majority owner, account for about half of the 2,000 job cuts the U.S. oil major confirmed earlier in the day. (Reporting by Sheila Dang in Houston)

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* Coty aims to reinforce fragrance business * To explore cosmetics partnerships, divestitures, spin-offs * Company review to aim for more 'focus' – CEO (Updates shares, adds background in paragraphs 4-5, Circana data in paragraphs 7-8) Sept 30 (Reuters) – Coty said on Tuesday it had launched a strategic review of its consumer beauty business that could lead to the sale of brands such as CoverGirl and Rimmel, as the cosmetics maker plans to focus on its more profitable fragrances unit. Last month, the New York-based company projected a quarterly sales decline as demand for its beauty products softened. The firm invested heavily into its U.S. mass beauty business at the expense of fragrance, before shifting course as mass beauty struggled with rising competition from lower-cost online rivals. The move comes as the U.S. mass-market makeup segment faces pressure, with drugstores destocking products as cost-conscious consumers tighten spending and fierce competition from newer brands building a strong following online. Anti-theft measures by U.S. retailers and recent changes in immigration policies have also hurt demand in the mass beauty category, company executives have said. More than a decade ago, Coty paid $12.5 billion for some of these brands in a deal with Procter & Gamble. "This new structure will… drive renewed momentum and sharper focus for consumer beauty, positioning it to compete more effectively in the evolving beauty landscape," CEO Sue Nabi said, adding she aims to grow Coty's prestige portfolio through blockbuster launches and brand elevation. In 2024, the prestige fragrance market was the fastest growing category, up 12%, according to data firm Circana, while the mass-market makeup category declined 3% compared to 2023. In the first half of 2025, p restige fragrance sales are up 6% in the U.S., the data showed. POTENTIAL PARTNERSHIPS, DIVESTITURES AND SPIN-OFFS The firm said its review would focus on its $1.2 billion revenue mass color cosmetics segment, which includes brands such as CoverGirl, Rimmel, Sally Hansen and Max Factor, as well as its $400 million standalone Brazil business. "The review will assess a full range of alternatives including partnerships, divestitures, spin-offs and other potential strategic actions," Coty said, adding that the aim was to maximize long-term value and bolster its balance sheet. Coty's consumer beauty division, which contributed $2.07 billion to annual sales, saw like-for-like sales drop 5% year-on-year for the 12 months ending June 30, Coty said last month. In the same period, its ultra-premium, prestige and consumer beauty fragrances all grew between 2% and 9%. Reduced profit has eaten into Coty's free cash flow, which totaled $277.7 million for the year to June 30, while the company's total debt was just over $4 billion. Coty's previous efforts saw it bring together hair and nail brands into professional beauty business Wella and sell a majority to stake to KKR. Coty is still working to divest its remaining 26% stake in that business. Coty will bring all fragrance and scent brands under one business unit accounting for 69% of company sales, while aiming to maintain steady growth in cosmetics and skincare. Shares of the company, which have lost nearly half of their value so far this year, were up 3% in premarket trading on Tuesday. Coty, which licences the fragrance brands of Gucci, Chloe and Burberry, has a market capitalization of about $3 billion, according to LSEG data. The news was first reported by the Wall Street Journal earlier on Tuesday. (Reporting by Nilutpal Timsina, Shivani Tanna, Ruchika Khanna and Savyata Mishra in Bengaluru, Alexander Marrow in London and Dominique Patton in Paris; Editing by Adam Jourdan, Louise Heavens and Arun Koyyur)

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WASHINGTON, Sept 30 (Reuters) – President Donald Trump said on Tuesday his administration is considering attacking drug cartels "coming by land" in Venezuela after the U.S. military struck several boats it claimed were carrying illicit drugs from that country. "Now we'll look at cartels," he told reporters as he left the White House. "We're going to look very seriously at cartels coming by land." (Reporting by Nandita Bose and Steve Holland)

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Sept 30 (Reuters) – Alltronics Holdings Ltd: * ALLTRONICS- TO BUY 51% OF EME LTD FOR HK$43.4 MILLION Further company coverage:

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(Recasts, adds quote from cellphone provider in paragraphs 5-6, UN comment in paragraphs 4, 13, 14) * Providers say they were ordered to cut connections * United Nations calls for restoration of internet * Flights, banking and health services disrupted * Taliban has given no immediate explanation By Mohammad Yunus Yawar and Saeed Shah KABUL, Sept 30 (Reuters) – The Taliban have ordered internet and mobile phone data services to be cut across Afghanistan, diplomatic and industry sources said on Tuesday, as residents and monitoring services reported no connectivity and disruption to flights and financial services. The Taliban administration offered no immediate explanation for the outage and could not be reached for comment. The UN called on authorities to fully restore connections. In the past, the Taliban have voiced concern about online pornography, and authorities cut fibre-optic links to some provinces in recent weeks, with officials citing morality concerns. "The cut in access has left Afghanistan almost completely cut off from the outside world, and risks inflicting significant harm on the Afghan people," the UN said in a statement. Afghanistan is grappling with the aftermath of an earthquake that hit the east of the country, the return of millions of refugees expelled from neighbouring countries, and a drought in the north. TALIBAN DIRECTIVES An Afghan cell phone services provider, which did not want to be named, said it was working alongside other providers "to manage this sensitive and complex situation". "We are following directives from the authorities and we hope that all telcos in the country will be authorized to recommence services as soon as possible,” the company said. Internet connectivity in Afghanistan was flatlining around the 1% mark, said NetBlocks, an international internet access monitoring organisation. Connectivity was cut in phases on Monday, with the final stage affecting telephone services, which share infrastructure with the internet, NetBlocks said in an email to Reuters. Private channel Tolo News, which warned viewers of a disruption to its services, said authorities had set a one-week deadline for the shutdown of 3G and 4G internet services for cell phones, leaving only the older 2G standard active. The channel also reported disruption for private banks and the central bank, while Kabul's currency market was working off yesterday's exchange rates. "WE CANNOT COMMUNICATE" Shabeer, who gave only his first name, said that his job at a private internet service provider had been suspended. "People today rely on technology, it is the main way to stay connected with the outside world," he said. "No one knows about the condition of their relatives, and even within Afghanistan, we cannot communicate." Arafat Jamal, country representative for the U.N. refugee agency, told reporters via satellite link from Kabul that it could no longer reach its frontline aid workers, including those helping with the earthquake response. "It is another crisis on top of the existing crisis. It is utterly unnecessary for this kind of interruption to take place, and the impact is going to be on the lives of Afghan people," he said, adding that it was seeking a waiver from the blackout from authorities. Strictures ordered by the Taliban leadership, based in Kandahar, have grown increasingly hardline. This month, authorities stopped women working for the UN from entering its offices. Earlier, women were banned from many lines of employment and girls from attending high school. The Taliban have said they respect women's rights in line with their interpretation of Islamic law. Women's rights activist Sanam Kabiri said the Taliban had already closed schools, universities, recreation, and sports facilities for women. "The Taliban are using every tool at their disposal to suppress the people," Kabiri, who is based outside of Afghanistan, told journalists in a video posting. "What else do these ignorant men of another century want from our oppressed people?" Women faced with curbs on leaving their homes to work had turned to the internet for an economic lifeline that allowed some to work from home. In recent weeks the Taliban have engaged with U.S. officials, especially regarding American citizens detained in Afghanistan, one of whom they released on Sunday. (Reporting by Mohammad Yunus Yawar in Kabul, Saeed Shah in Islamabad and Emma Farge in Geneva; additional reporting by Hritam Mukherjee; Writing by Saeed Shah; Editing by Clarence Fernandez, Alexandra Hudson)

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* Fed's Collins supports Fed's recent rate cut amid inflation and labor market risks * Collins says policy should still lean into lowering inflation * Collins sees benign economic outlook, expects inflation to gradually return to target By Michael S. Derby NEW YORK, Sept 30 (Reuters) – Federal Reserve Bank of Boston President Susan Collins said Tuesday she’s open to more interest rate cuts amid expectations price pressures will start to wane some time next year. “it may be appropriate to ease the policy rate a bit further this year – but the data will have to show that,” Collins said in remarks prepared for delivery before a gathering to be held at the Council on Foreign Relations in New York. The official noted that she supported the Fed’s decision to cut its interest rate by a quarter percentage point to between 4% and 4.25% earlier this month as the central bank managed risks to both its job and employment goals. But she added, “I continue to see a modestly restrictive policy stance as appropriate, as monetary policymakers work to restore price stability while limiting the risks of further labor market weakening.” The rate-setting Federal Open Market Committee trimmed the cost of short-term borrowing at its most recent gathering. It aimed to offset rising risks to the labor market with the reality that inflation remains above the central bank’s target and will likely stay elevated for a while as President Donald Trump’s massive trade tariffs work their way through the economy. Over recent days, a number of Fed officials have said that while inflation risks remain due to the tariffs, price increases thus far have been less than expected. Officials have been debating whether this particular storm has largely passed or whether inflation still risks a persistent rise as firms pass on higher costs to customers. At the Fed meeting, central bankers penciled more rate cuts into the end of the year and further easings in 2026. Collins said in her remarks her outlook for the economy is “relatively benign” and that the currently tepid level of hiring will accelerate as companies get used to the new tariff environment. On the inflation front, “while inflation is likely to remain elevated into next year, I expect it to resume its gradual return to target over the medium term.” Collins flagged a “highly uncertain environment” and said it’s possible the economy may see a mix of persistent inflation and “adverse” job market developments, although she added, “the upside inflation risks I was concerned about a few months ago are more limited.” (Reporting by Michael S. Derby; Editing by Chizu Nomiyama )

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(Updates Sept 29 story with updated share price and new UBS quote, paragraphs 6 and 13) * Bern wants tougher capital rules after demise of Credit Suisse * UBS says new rules will hurt the bank's competitiveness * Final capital requirements won't be clear before next year By Ariane Luthi and Oliver Hirt ZURICH, Sept 30 (Reuters) – Switzerland and UBS are signalling in private a willingness to compromise on capital rules, potentially paving the way for parliament to settle on lower requirements acceptable to the government and the bank, according to people familiar with the situation. UBS has strongly criticised the government's proposed rules – unveiled in June to make the country's banks safer after the 2023 collapse of Credit Suisse – because they would require it to hold $24 billion in additional capital. The bank says that would put it at a disadvantage to global rivals and it is reviewing a series of mitigation strategies that even include relocating its headquarters abroad. One person familiar with the government's thinking told Reuters that Bern could be willing to accept rules that would be likely to lower the additional capital burden to somewhere around $15 billion. That is an amount UBS could tolerate, said two other people familiar with the bank's thinking. UBS on Tuesday reiterated its opposition to current proposals in its official response to a new government consultation on the plans, calling them "disproportionate" and "out of touch with reality". Shares in the Swiss bank rose on Tuesday, gaining more than 1% by 1230 GMT and outpacing a 0.9% rise in the broader European financial sector. PROCESS STILL HAS A LONG WAY TO GO All the sources underlined that the process has a long way to go and nothing is decided. Reuters could not establish whether UBS and the government had discussed possible concessions together. Representatives from both have been invited to a parliamentary committee meeting in early November. The final decision on the legislation that will cement the new rules will not be made by parliament until next year at the earliest. The finance ministry said the government was sticking to its proposals and had not signalled a willingness to reduce the additional capital burden to about $15 billion. "The final decision will be made by parliament and, in the event of a referendum, by the people," the ministry added. UBS told Reuters it remained opposed to what it called an excessive increase in capital requirements and favoured "targeted, proportionate and internationally aligned" regulatory changes. "We're optimistic that a reasonable outcome can be achieved," UBS added. The bank expects authorities to examine feedback on proposed rules and consider alternatives, UBS executive Markus Ronner said on Tuesday, adding that Switzerland has historically implemented proportionate regulation. "From that perspective, our hope is probably not unfounded." Newspaper Schweiz am Wochenende said at the weekend that centrist and right-of-centre political parties were working on a compromise that pointed towards an extra capital burden of between $10 billion and $15 billion. "I am convinced that in the end we'll get a result that ensures a better balance between stability and competitiveness," said Roman Studer, CEO of the Swiss Bankers Association, based on discussions with banks, business leaders and lawmakers. UBS FOREIGN UNITS AT HEART OF CAPITAL DEBATE Much of the added capital burden centres on the government's desire for UBS to capitalise its foreign subsidiaries to the tune of 100%, up from 60% now, a proposal due to reach parliament next year after a public consultation. One lawmaker pushing for tougher regulation said, on condition of anonymity, that parliament could eventually meet in the middle, with the requirement lowered to 80%. The source familiar with the government's thinking said an 80% threshold could be acceptable to Bern. Such a reduction would lower the extra capital needed close to $15 billion, said two analysts who have crunched the numbers. Another route to ease the burden would be to allow UBS to cover part of it with so-called Additional Tier 1 (AT1) debt instead of Common Equity Tier 1 (CET1) capital as proposed. UBS held about $19 billion in AT1 debt at the end of June. Incorporating that could lower the total add-on to a tolerable level for the bank, one source said. "It must be possible to use AT1 as collateral," SBA's Studer said. "We should actually be able to agree on this." The parliamentary process means that the final capital requirements will only become clear next year at the earliest. UBS is under pressure from investors to find an acceptable solution. Its shares, while rallying in recent months, continue to lag peers this year. One of its largest shareholders, activist investor Cevian, said this month that the proposed rules would make UBS uncompetitive, even if watered down, and urged the bank to move abroad. (Reporting by Ariane Luthi and Oliver Hirt Additional reporting by Dave Graham Editing by Tommy Reggiori Wilkes, Mark Potter, Louise Heavens and David Goodman )

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