BEIJING (Reuters) - China on Monday urged the Philippines to not challenge its efforts to “safeguard its territorial sovereignty and maritime rights and interests” after vessels from the two countries clashed near disputed islands in the South China Sea. China urges the Philippines to immediately stop “violations and provocations”, Lin Jian, a spokesperson of the foreign ministry, told a regular press briefing. China and the Philippines traded accusations on Sunday over a maritime confrontation near Sandy Cay, a coral reef within the Spratly Islands.

 

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LONDON (Reuters) - The latest surge in global share prices and other assets has left markets susceptible to a crash given the current uncertain economic and geopolitical backdrop, the G20’s risk watchdog said on Monday. Financial Stability Board (FSB) Chair, Andrew Bailey, told G20 ministers in a letter the elevated risks made maintaining multilateral co-operation crucial. Not just to prevent crises, but also to support sustainable economic growth. “While most jurisdictions have seen a rebound in financial markets in recent months, valuations could now be at odds with the uncertain economic and geopolitical outlook, leaving markets susceptible to a disorderly adjustment,” the letter dated October 8 and published ahead of G20 meetings in Washington this week, said. That warning came just days before U.S. President Donald Trump’s threat of “massive” new tariffs on China in retaliation for Beijing tightening rare earth restrictions triggered Wall Street’s biggest fall in nearly six months.

 

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MADRID (AFP) - Floods trapped people in vehicles and homes in Spain as torrential rain drenched the northeastern Catalonia region, a day after downpours unleashed travel chaos on the Mediterranean island of Ibiza. Local media shared videos of roaring torrents of brown water tearing through streets and submerging vehicles. National weather agency AEMET decreed the highest red alert in the province of Tarragona, warning of 180 millimeters of rain in 12 hours in the Ebro river delta. Catalan fire service spokesman Oriol Corbella told reporters people had been caught by surprise, with people trapped “inside vehicles, in buildings, on ground floors”. The mayor of the town of Santa Barbara, Josep Lluis Gimeno, told regional television station 3Cat the situation was “very tense” as the night brought heavier deluges.

 

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ANTANANARIVO (Reuters) - Madagascar’s President Andry Rajoelina is no longer believed to be in the country after being flown out of the African nation on a French military aircraft, following a deal with President Emmanuel Macron, French radio RFI reported on Monday. Rajoelina was increasingly isolated after losing the support of a key army unit that joined thousands of youths protesting against corruption and poverty and demanding his resignation. A Madagascar presidency spokesperson did not immediately respond to requests for comment on the RFI report. Demonstrations in the former French colony erupted on September 25 over water and power shortages but have quickly escalated into an uprising over broader grievances, including bad governance and lack of basic services.

 

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COPENHAGEN (Reuters) - Global warming is crossing dangerous thresholds sooner than expected with the world’s coral reefs now in an almost irreversible die-off, marking what scientists on Monday described as the first “tipping point” in climate-driven ecosystem collapse. The warning in the Global Tipping Points report by 160 researchers worldwide, which synthesizes groundbreaking science to estimate points of no return, comes just weeks ahead of this year’s COP30 climate summit being held at the edge of the Amazon rainforest in Brazil. That same rainforest system is now at risk of collapsing once the average global temperature warms beyond just 1.5 degrees Celsius based on deforestation rates, the report said, revising down the estimated threshold for the Amazon.