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Catch up: South Korea’s unrepentant president clings on; markets surge

Elon Musk has become the first person to reach $400 billion in net worth, the latest milestone for the world’s richest individual.

It’s stubbornly settling above the desired 2.0%, which won’t stop a Fed cut next week but should put the Trump team on notice.

Switzerland’s two-year stint of positive interest rates is about to inch closer to a potential end with the central bank’s likely move to cut borrowing costs this week.

The European Central Bank is set to cut interest rates for the fourth time this year, loosening constraints on the region’s struggling economy as inflation nears 2%.

The US will raise import tariffs on Chinese solar wafers, polysilicon and some tungsten products from the beginning of next year, following a four-year review by the Biden administration.

US President-elect Donald Trump has invited Chinese President Xi Jinping to attend his inauguration next month, CBS reported, citing multiple sources.

Die OMV kündigt den Gasliefervertrag mit der russischen Gasprom. „OMV Gas Marketing & Trading GmbH (OGMT) hat soeben beschlossen, den österreichischen Liefervertrag mit Gazprom Export (GPE) mit sofortiger Wirkung zu kündigen“, heißt es in einer Aussendung der gashub.at am Mittwochabend.

Expectations around price pressures and monetary policy have swung wildly over the past year. The numbers tell an optimistic story.

The European Union gave preliminary backing to a 15th package of sanctions against Russia that includes an extension of an exemption for Slovakia to trade petroleum products derived from Russian oil through early June.

OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.

China is set to begin its annual economic work meeting on Wednesday to map out policies for next year, with top leaders hinting at more forceful stimulus amid the threat of a potential trade war with the US.

President-elect Donald Trump said his administration would help expedite permits for any person or company that invested at least $1 billion in the US.

China got a head start on a looming trade war with the US by showcasing a new range of tools it’s prepared to use if Donald Trump makes good on his threat to punish the world’s second-biggest economy with tariffs.

A tit-for-tat trade war would hurt both Europe and the US, but internal barriers to trade and the efficient allocation of capital leave Europe ill-prepared.

Northvolt’s cash crunch and local factories getting canceled undermine the region’s push to reduce reliance on Asia.

I’m Chris Anstey, an economics editor in Boston, and today we’re looking at India’s ties with the US under the incoming Trump administration. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here.

Can pure business-owner optimism translate into economic acceleration? Next year may offer the ultimate test of that proposition in America, as Donald Trump and his aides take the reins for a second time.

Promised overhaul of conventional wisdom on trade, debt and security won’t happen overnight.

European Central Bank officials agree that lower interest rates are needed to buoy the region’s shaky economy. How much they can actually help, though, is hotly contested.

Government borrowing habits pose the biggest danger to world economic stability and recent shifts in market sentiment should serve as a warning, the Bank for International Settlements said.

China may raise its budget deficit to the highest in three decades and make the deepest interest-rate cuts since 2015 following the boldest stimulus signals from its top leaders in years, according to economists.

Catch up: Syria plans for a new government; South Korea’s opposition vows to cut the budget

Catch up: Syria plans for a new government; South Korea’s opposition vows to cut the budget

Catch up: Syria plans for a new government; South Korea’s opposition vows to cut the budget

China has opened a probe into Nvidia Corp. over suspicions that the US chipmaker broke anti-monopoly laws around a landmark 2020 deal, taking aim at the AI heavyweight as Washington ramps up sanctions.

The European Union should guard against Chinese attempts to dominate the bloc’s clean-tech market and make sure its exports aren’t destroying local rivals, the EU’s new competition chief warned.