Daily Brief: Democrats Win US Congress in Midterm Sweep

In today's Bilig Daily Brief, Democrats won control of both chambers of the US Congress in Tuesday's midterm elections, flipping Senate seats in Republican strongholds including Texas and Kansas. The results weighed on Asian technology shares and the dollar, while President Donald Trump confirmed new strikes on Iran and said US military aid to Israel would end this year.

Democrats win both chambers of US Congress

Democrats won control of the Senate and the House of Representatives in Tuesday's midterm elections, ending Republican control of Congress. The Associated Press (AP) projected the Senate flip at 11:46 p.m. Eastern Time. Democrats took Republican-held seats in Texas, Kansas, Ohio, Iowa, North Carolina, South Carolina and Maine, where Senator Susan Collins lost after nearly 30 years, giving them at least 54 seats, according to the Boston Globe. "Americans voted for change, and now Democrats must deliver," Senate Minority Leader Chuck Schumer said.

Trump congratulates Democrats after sweeping losses

Trump congratulated Democrats on their victory and accepted the outcome. "I look forward to working with you for the good of our country," he told CBS News. On social media, he wrote that he "wasn't on the Ballot" and would have won "IN A LANDSLIDE" if he had been. In a Fox News interview, he said he would work with Democrats on immigration but threatened to veto "insane" bills, Reuters reported. Exit polls found 70% of voters wanted more checks on the president.

Democrat Hinojosa ousts Texas Governor Greg Abbott

Democrat Gina Hinojosa defeated three-term Republican Governor Greg Abbott in Texas, according to an AP race call, and will be the state's first Democratic governor since Ann Richards left office in 1995. She led by about 16 percentage points with two-thirds of precincts reporting. In Georgia, Democrat Keisha Lance Bottoms became the first Black woman elected governor of any US state, Reuters reported. Republican Byron Donalds won in Florida. In House races, Democrats flipped Republican-held districts in Texas, Wisconsin and Ohio, CBS News reported.

Asian tech stocks slide as dollar weakens

Asian technology shares fell and the dollar weakened on Wednesday as investors weighed the Democratic gains. Japan's Nikkei 225 fell as much as 4.8% before closing 1.4% lower at 62,188.63. South Korea's Kospi recovered from a 4% drop to close up 0.6%, while the Shanghai Composite rose 2.2%. The dollar slipped to 158.13 yen from 158.69, AP reported. Traders cited fears of stricter rules on artificial intelligence (AI) infrastructure.

AMD shares jump on data centre surge

Advanced Micro Devices (AMD) shares rose about 7% in extended trading on Tuesday after the chipmaker reported record third-quarter revenue of $13.4 billion, up 45% from a year earlier. Data centre revenue nearly doubled to $8.5 billion. AMD forecast fourth-quarter revenue of about $17 billion, above analysts' estimates of about $16.2 billion. In regular trading, chip stocks lifted the Nasdaq Composite 0.8% to 25,372.01, while the S&P 500 rose 0.4% and the Dow Jones Industrial Average fell 0.4% as Apple lost 1.9%.

Trump confirms strikes as Iran claims tanker fires

Trump confirmed on Tuesday that US forces had struck an anti-aircraft facility in Iran, calling it a "minor attack" in a Fox News interview. Iranian media said the strikes hit Qeshm Island near the Strait of Hormuz. Iran's Revolutionary Guards said on Wednesday that four oil tankers had hit mines south of the strait and were still burning, a claim that could not be independently verified, Reuters reported. Iran's chief negotiator, Parliament Speaker Mohammad Bagher Ghalibaf, wrote on X that Americans had voted "NO TO WAR".

Trump says US military aid to Israel will end

Trump said on Tuesday that about $4 billion in annual US military aid to Israel would end after this year, telling Fox News that "we made a deal months ago that we're stopping". He said Israeli Prime Minister Benjamin Netanyahu had raised the idea. The current 10-year memorandum of understanding, which runs to the end of fiscal 2028, provides $3.8 billion a year, ABC News reported. Opposition leader Gadi Eisenkot said Israelis had learned of the change "through the media".

Israeli opposition backs Eisenkot to replace Netanyahu

Five Israeli opposition leaders agreed on Tuesday to recommend former army chief Eisenkot as prime minister, among them former Prime Minister Naftali Bennett and Yair Lapid. They pledged to replace what they called the "Oct. 7 government" with a national emergency government. No bloc won a majority in the 120-seat Knesset in the 27 October election: Netanyahu's bloc holds 53 seats, the opposition 48 and Arab-led parties 19. President Isaac Herzog begins consultations with parties on Wednesday.

Ukraine aid site toll rises as Zelenskiy visits Berlin

The death toll from Monday's Russian bombing of an aid distribution site in Komyshuvakha, in Ukraine's Zaporizhzhia region, rose to 31, regional officials said on Tuesday, with more than 45 people missing. President Volodymyr Zelenskiy visited Berlin on Tuesday and met German Chancellor Friedrich Merz ahead of three-way talks with the United States and Russia in Abu Dhabi on 10 and 11 November. Merz said Russia must show it was serious about a ceasefire and that he had seen no sign of this so far, Reuters reported.

King Charles voices sorrow over slave trade

King Charles III told Commonwealth leaders in Antigua on Tuesday that the transatlantic slave trade was a "shameful chapter of history" that filled his heart "with horror", but he stopped short of an apology. "We cannot change the actions of those who came before us," he said at the opening of the Commonwealth Heads of Government Meeting. Guyana's President Mohamed Irfaan Ali said an apology should be the king's next step. Prime Minister Andy Burnham has ruled out reparations.

Hoax bomb threats disrupt flights across Europe

At least seven passenger flights and a cruise ship received bomb threats on Tuesday, disrupting travel in Poland, Italy, Spain, Bulgaria and Britain, authorities said. No explosives were found and all aircraft landed safely. Italy scrambled two Eurofighter jets to escort a Ryanair flight from Dublin into Rome. Ryanair was the worst affected airline, with four flights targeted. The cruise ship Crown Iris was evacuated off the Greek island of Syros. No one claimed responsibility.