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World Today: Key News Highlights for the Day

Here are some of the significant news stories to keep an eye on today:

  1. Historic Removal of Speaker McCarthy: In an unprecedented move, Mr. Kevin McCarthy has been voted 216-210 to resign as Speaker of the United States House of Representatives. The first-ever removal of a Speaker of the House of Representatives in U.S. history. Mr. Patrick McHenry, a Republican MP, will serve as the temporary president of the council until a new Speaker is chosen in a vote scheduled for October 11th.
  2. Tragic Bus Accident in Venice: A devastating bus accident occurred in the Mestre area of Venice, Italy, yesterday at 7:45 p.m. local time. The bus crashed into a guardrail and plunged off an elevated bridge, resulting in at least 21 fatalities and 18 injuries.
  3. Pakistani Deadline for Illegal Immigrants: The Pakistani government has issued an order requiring illegal immigrants, including 1.73 million Afghans, to leave the country by November 1 or face deportation.
  4. Japan’s Vigilance in Foreign Exchange Market: Mr. Shunichi Suzuki, Japan’s Minister of Finance, stated that the government is closely monitoring the foreign exchange market and is prepared to take action to maintain market stability. Any decision to intervene in the market will be based on market fluctuations rather than the specific yen exchange rate.
  5. Surge in U.S. Mortgage Interest Rates: According to data from Mortgage News Daily, the average U.S. home mortgage interest rate has surged beyond 7.7%, reaching its highest level since 2000.
  6. Robust Job Openings in the U.S.: The U.S. Department of Labor’s Bureau of Statistics released the results of the Job Openings and Labor Turnover Survey (JOLTS), revealing that the number of job openings, a crucial measure of labor market demand, increased by nearly 700,000 jobs to reach 9.61 million jobs in August. This figure surpassed analysts’ expectations of 8.8 million job openings.
  7. Russia’s Defense Minister’s Statement: Mr. Sergei Shoigu, Russia’s Minister of Defense, confirmed that Russia has no plans to mobilize additional troops for combat in Ukraine.
  8. Key Economic Data Releases: Today, various important economic data will be released, including France’s final September Services Purchasing Managers’ Index (PMI) from Hamburg Commercial Bank (HCOB), Germany’s final September Services PMI from HCOB, England’s final September Services PMI from S&P Global/CIPS, the EU’s final September Services PMI from HCOB, August retail sales, August Producer Price Index (PPI), September private sector employment figures from ADP, September final Services PMI from S&P Global, September services sector index from the U.S. Institute for Supply Management (ISM), total orders from the factory sector in August, and weekly oil stocks data from the U.S. Energy Information Administration (EIA). These releases will provide valuable insights into the economic landscape.

Stay tuned for further updates on these stories as they develop throughout the day.

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