Nepal, Warsh and the Fed, and GLP-1 men

Hi, I'm Peter Devlin in London. It's Saturday, August 29th. Today, Nepal says it could need up to 5 billion dollars to rebuild. Worse signals the Fed may need to hike rates if high inflation persists, and plastic surgery becomes popular among men who have slimmed down on GOP1's. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, 7 days a week. Nepal says it could need up to 5 billion dollars to rebuild. After catastrophic floods triggered by glacier collapse, killed more than 600 people and left nearly 3,000 missing. But during one of Nepal's deadliest flood disasters in years, a rare moment of hope. The nature of Zoyao Galel survived after floodwaters devastated North and Nepal on Wednesday. He told Reuters he ran into forest and climbed trees to escape after the disaster struck near his school. His mother Mata Maya Tamang spent 2 days searching shelters and 8 centers. Convents booked Zoyao and his younger brother had died. She says she had lost hope and was overwhelmed by grief as she searched through flood ravaged communities. Reuters journalist Shahana Badracharya had met Zoyao at a small hospital after rescuers brought him in with a broken leg and cuts to his face. Hospital staff didn't know where his family was. After Tamang obtained Badracharya's phone number and called, she learned her son was alive. On Friday Tamang reached the hospital on Kathmandu and stood beside her son's bed. Her younger son had also been fine alive. UNICEF says about 17,000 children have been affected. A Russian drone strike near Kiev has killed at least 27 people, after heading a warehouse and triggering a massive detonation. More than 380 people were evacuated from the strike area, including residential buildings and a facility providing care for the elderly. President Vladimir Zelensky is calling for those responsible to be punished. Gunfire and explosions wrang out across Niger's capital, after what sources described as an attack by mutinous soldiers targeting the airport and areas near the presidential palace. Government forces say that they're responding, while security sources tell Reuters, parts of Niamay remain contested. Shahani has ruled Niger since the 2023 coup. To the U.S. Nigh, where Federal Reserve Chair Kevin Worsh at the Jackson Hole Symposium addresses the challenges facing the Feds. If markets rely materially on the Feds guidance and the FED relies on market prices, we're more likely to be blinded to new developments, more likely to be caught unprepared, and more likely to commit errors in policymaking. Worsh has been tight leapt in his first few months as head of the central bank, but he did offer some insights into his priorities as U.S. economy faces sticky inflation that's remained above target for more than five years. Inflation is running above R2 percent target, so the Feds predominant focus right now should be on prices. Our reporter, Ansafear, was in Jackson Hole for Worsh's speech. He suggested that he is not satisfied with where inflation is right now or where it is heading, and he gave really his first hint that the FED may need to actually raise rates in order to bring inflation down. These were all revelations. These were nothing that Worsh had really ever said before, and markets reacted very as you might expect. Rate futures started to price in a bigger chance of a September rate hike. All that said, he did not say anything definitive. He spoke in what we would consider normal FED speak. In other words, he hinted, but did not promise. Worsh has stayed away from even doing anything that sounded like a hint. Today, he made that step. Thousands marched in Washington on Friday, warning that voting rights and civil rights protections are being ruled back, more than six decades after Martin Luther King Jr.'s historic march on Washington. His granddaughter, Yolanda Renee King, told the crowd, her generation would restore the dream. We know the dream was never finished, and we know you were never asking us to simply remember you. You were asking us to continue. So we will. Among the speakers were Senator Bernie Sanders, who argued the issues at stake go beyond the ballot box. And that is why the march on Washington was not simply a march for voting rights as enormously important as that was. It was the march on Washington for jobs and freedom. The rally drew civil rights leaders, lawmakers and activists to the national mall ahead of November's midterm elections. President Donald Trump says the US is taking majority control of more than 65 billion barrels of Venezuelan oil reserves and a sweeping new deal he says could help lower gasoline prices. The agreement would dramatically expand the US rule in Venezuela's oil industry following weeks of negotiations between Washington and the interim government. Secretary of State Marco Rubio calls it a win for both countries, saying it could unlock billions of dollars in investment and boost crude supplies to US refineries. But key details remain unclear, and analysts say legal hurdles and aging infrastructure could make it difficult to deliver results quickly. Of all of the issues on the table in US Mexico trade talks right now, here's one you might not expect. Cheese. Mexico recently signed a trade deal with the European Union that expands protections for foods linked to specific regions. But as our reporter Sarah Morland in Mexico's city explains, that's complicating trade talks with its neighbor to the north. So European cheese exports to Mexico come into high price, this is partly because of tariffs and partly because US imports come in at a lot cheaper because they manufacture on scale and have a transport cost to send into Mexico. The United States has long defended the use of what it calls common names for cheeses. So these are labels such as Manchego, such as Parmesan, the EU, however, defends the names of cheese that's originally from some of these countries, as protected in normal nations of origin. So for example, they say that Parmigiano Regino can only be produced in certain regions of Italy, that Feta can only be produced in some parts of Greece. And that Manchego should only come from the La Mancha region in Spain, where it's produced from sheep's milk. As with some compromises reached here during the EU-Mexico talk, but essentially the EU-Mexico agreement would extend a lot of protections for European cheeses. The US cheeses exporters say that it's confusing for consumers to re-delabel, that says something like imitation feta or Asiago-style cheese, when their cheeses essentially the same. And they say this is hurting their sales. The deal still needs final approval. So then negotiators remain stuck on an issue that's well a little cheesy. In Norway, mourners are gathering outside the Royal Palace in Oslo to say goodbye to King Harald. The country's longest-serving monarch died on Friday at the age of 89, but people queuing to pay their respects. For many, Harald was more than a king. Norway begins a new chapter under King Hawken, the 8th. Now to a booming business tied to dramatic weight loss. Drugs like Wigouvi and Zepbind are helping a lot of American men slim down. Man like Mark, who's lost about 50 pounds after starting GLP1s, but they're also creating something unexpected, a growing demand for cosmetic surgery. Dr. Sean Alevi performs deep-playing face lifts in New York, and says cosmetic procedures are a very common trend among men who've lost a significant amount of weight. "Absolutely within the last five years I would say there has been a dramatic increase. Year over year, honestly, in men who are interested in facial rejuvenation and plastic surgery." Our health reporter, Sri Parna Roy explains the trends. Men make up around 28 percent of the GLP1 market according to data from Godarets. The president of American Society of Plastic Surgeon said in the first few months of 2026, 70 percent of men who opted for a cosmetic surgical procedure at some sort of GLP1 weight loss history. So I think that we're going to hear a lot more stories like this. As more people take GLP1 drugs, the surgeries do come with a price tag, often costing [BLANK_AUDIO] thousands of dollars and typically paid out of pocket. However, more said that it was worth it, making them feel like their best selves. For more on any of the stories from today, as well as more analysis and new shaping our world, check out Reuters.com or the Reuters app. There's a link in the description to download it and start getting pure news straight from the source. Don't forget to follow us on your favourite podcast player, if you're listening on a smart speaker, just ask for the latest news from Reuters 7 days a week. We'll be back tomorrow with our Deely headline show.