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ECB to cut rates again amid bleak eurozone outlook
The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence in the eurozone's two biggest economies adding to the troubled picture. Even before the latest turbulence, the eurozone's biggest economy was struggling with a manufacturing slowdown, and its anaemic growth rates are weighing down the broader single currency area.
US clean energy, defense to be impacted by China export curbs
China's retaliatory export controls could take a toll on the growing US clean energy sector and its defense industry, analysts say, as a trade tussle escalates between the world's two biggest economies. - Clean energy - Besides defense, gallium-based semiconductors are used in radio frequency electronics, LEDs for lighting and high-efficiency solar cells, the US Geological Survey noted.
UK retailers feed off public affection for festive ads
They come with big budgets, are wrapped in sentimentality and boost company revenues -- Britain's latest instalment of eagerly awaited Christmas television advertisements has a nation tuned in. One of the most eagerly awaited UK Christmas ads is from department store chain John Lewis, with consumers buying into its "emotive storytelling", according to Deason.
Taylor Swift's record-breaking 'Eras' tour set for final show
Taylor Swift's record-shattering "Eras Tour" is set to end on Sunday in Vancouver with the final performance of a cultural phenomenon that has easily become the highest-grossing musical tour in history. Her second-last tour stop was Toronto, where she performed six shows over two weekends.
TikTok loses appeal of US law ordering sale from Chinese owner
TikTok faces a US ban after an appeals court on Friday rejected its challenge to a law requiring the video-sharing app to divest from its Chinese parent company by January 19. The law, signed by President Joe Biden in April, would block TikTok from US app stores and web hosting services unless ByteDance sells the platform by January 19.
US facing greater risk from inflation than labor market: Fed official
The US continues to face a greater risk from underlying inflation than from any weaknesses in the labor market, despite recent progress, a senior Federal Reserve official said Friday. The Federal Reserve has a dual mandate from Congress to keep both inflation and unemployment under control, and recently began rolling back high interest rates in order to better support the labor market.
US hiring rebounds after slump on hurricanes, strike
The US economy added more jobs than expected last month, government data showed Friday, bouncing back from a dramatic slowdown triggered by hurricanes and labor strikes. Friday's figure "marks only a moderate-sized bounce back" from the strikes and disasters, said Nationwide chief economist Kathy Bostjancic.
EU and S.America countries conclude Mercosur trade deal
The EU and four South American countries have concluded a huge, but controversial trade deal that is opposed by France and many European farmers, European Commission chief Ursula von der Leyen announced on Friday. France's minister for trade, Sophie Primas, said that von der Leyen's announcement "regards only her."
EU chief meeting South American leaders to try to close trade deal
European Commission President Ursula von der Leyen will meet leaders of South America's Mercosur bloc on Friday, aiming to push through a controversial pact to create the world's biggest free trade zone despite last-minute resistance. - 'Unacceptable' - The treaty aims to eliminate most import taxes between the EU and Mercosur to create a vast free-trade area of more than 700 million consumers.
AFP
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