US-UK technology trade relations face tension as Washington pushes for concessions, while the UK secures a crucial trade deal with South Korea and Ukraine continues to battle Russian aggression amid EU sanctions on oil traders, with China facing investment decline and the US strategically investing in critical minerals to counter its influence, alongside Trump's engagement in Ukraine peace talks and rising EU-US tensions.

• US suspends technology deal with the UK — Financial Times -
• UK agrees trade deal with South Korea just weeks ahead of deadline — Financial Times -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -

• Trump says Ukraine deal ‘closer than ever’ after talks in Berlin — Financial Times -
• Oil Futures Fall Further on Oversupply Concerns — Wall Street Journal -
• German parliament suffers suspected cyber attack during Zelenskyy’s visit — Financial Times -
• Rival Kingpins of Russian Oil Trade Hit by EU Sanctions — Wall Street Journal -
• China Approaches First Investment Decline in 3 Decades — The New York Times Business -
• Chile’s conservative landslide gives Trump new Latin America ally — Financial Times -
• Brussels imposes sanctions on oil trader Lakhani over Russia allegations — Financial Times -
• Russia is ‘exporting chaos’, new head of MI6 warns — Financial Times -
• Opinion | The Green-Energy Push Is a Security Threat — Wall Street Journal -
• Ukraine claims strike on Russian submarine with underwater drones — Financial Times -
• Ukrainian start-up to make drones in Germany in new export drive — Financial Times -
• Trump stiffs farmers and China stiffs Trump — Financial Times -
• EU will lose face if it rejects Mercosur deal, warns trade commissioner — Financial Times -
• US backs $7.4bn critical minerals smelter to counter China — Financial Times -
• China investment decline deepens as Xi attacks ‘reckless’ spending — Financial Times -
• Trump assault opens EU rift as leaders split on US strategy — Financial Times -
• Hong Kong convicts Jimmy Lai in national security trial — Financial Times -
• Europe faces do or die week on Ukraine and trade ambition — Financial Times -
• Conservative hardliner wins Chile’s presidency in election landslide — Financial Times -

Ford Motor is facing a significant financial hit as it rolls back its electric vehicle production plans, signaling a major shift in the automotive industry's EV strategy, while Stellantis is expanding its Canadian workforce and Brussels considers scrapping the 2035 combustion engine ban.

• Ford Will Take $19.5 Billion Hit as It Rolls Back E.V. Plans — The New York Times Business -
• Ford to take $19.5bn hit as US carmaker overhauls EV strategy — Financial Times -
• Ford Takes $19.5 Billion Hit in Detroit’s Biggest EV Bust — Wall Street Journal -

• FirstFT: Australia to toughen gun laws after deadly attack on Jewish festival — Financial Times -
• Stellantis Hits Milestone of 1,000 Hires for Windsor, Ontario Plant — Wall Street Journal -
• Brussels plans to scrap 2035 combustion engine ban — Financial Times -

The technology sector sees major shifts with self-driving sensor company Luminar filing for bankruptcy and Roomba maker iRobot swept into bankruptcy, while China's robotaxi industry struggles and the rise of AI threatens traditional advertising jobs, but SpaceX eyes a massive IPO and the UK plans significant moves in crypto regulation and internet safety.

• Self-Driving Technology Maker Luminar Files Bankruptcy — Wall Street Journal -
• Roomba maker iRobot swept into bankruptcy — Financial Times -
• Why China’s robotaxi industry is stuck in the slow lane — Financial Times -

• Opinion | AI Is About to Empty Madison Avenue — Wall Street Journal -
• Roomba Maker iRobot Files for Bankruptcy, With Chinese Supplier Taking Control — The New York Times Business -
• Lessons from Roomba: sometimes being first mover sucks — Financial Times -
• SpaceX’s Next Big Launch Could Be an I.P.O. — The New York Times Business -
• UK to push for nudity-blocking software on devices to protect children — Financial Times -
• Roomba Maker Declares Bankruptcy, but Tries to Ease ‘Bricking’ Fears — Wall Street Journal -
• UK can ‘lead the world’ on crypto, says City minister — Financial Times -
• UK plans curb on freeholders blocking broadband cabling in flats — Financial Times -

PayPal is seeking a US banking license amidst a looser regulatory environment under the Trump administration, which is also seen targeting powerful proxy advisers and impacting the Federal Reserve's independence, while the New York Attorney General sues UPS over alleged underpayment of seasonal workers, sparking debate on labor union effectiveness.

• PayPal applies for US banking licence — Financial Times -
• Opinion | Why Trump Is Targeting Proxy Advisers — Wall Street Journal -
• Opinion | Trump Takes On the Proxy Overlords — Wall Street Journal -

• NY Attorney General Sues UPS for Allegedly Underpaying Seasonal Workers — Wall Street Journal -
• This Isn’t the First Time the Fed Has Struggled for Independence — The New York Times Business -
• Can Labor Unions Recover? Two Experts Square Off — Wall Street Journal -
• Fed decisions distorted by ‘phantom inflation’, says Stephen Miran — Financial Times -
• Donald Trump’s affordability crisis — Financial Times -
• Trump’s Cuts Hobbled US Labor Board, Leaving Festering Disputes and a Power Struggle — The New York Times Business -

The UK faces political uncertainty with Starmer's leadership questions and Reform UK proposing civil service job cuts, as publicans voice anger over new tax rises, junior doctors plan pre-Christmas strikes, and the Bank of England is poised to cut interest rates while mortgage rules are set to loosen to aid buyers.

• Starmer admits questions about his leadership are ‘rife’ — Financial Times -
• ‘We feel badly let down’: pubs say they will be hit hard by UK tax rise — Financial Times -
• Doctors to go ahead with pre-Christmas strikes in England — Financial Times -

• Business groups urge peers to pass UK employment rights bill — Financial Times -
• Reform UK pledges to cut 68,500 civil service jobs — Financial Times -
• UK property asking prices down £2,000 from a year ago — Financial Times -
• UK mortgage rules to be loosened to help first-time buyers and pensioners — Financial Times -
• Unpopularity fears and low expertise hamper Labour’s position on defence — Financial Times -
• BoE set to cut rates to 3.75% as economic data eases inflation concerns — Financial Times -
• Labour’s re-election hopes rest on the private sector — Financial Times -

Hard Rock and Mets owner Steve Cohen secured final approval for a Queens casino, Frontier Airlines named an interim CEO, Juventus shares climbed after rejecting a Tether bid, and Larry Ellison's financing for Paramount's Warner Bros. takeover faces scrutiny, alongside SolGold's board backing a sweetened takeover bid and Kenya selling a stake in Safaricom.

• Hard Rock, Mets Owner Steve Cohen Get Final Green Light for Queens Casino — Wall Street Journal -
• Frontier Airlines Names Interim CEO, Biffle to Exit — Wall Street Journal -
• Steve Cohen wins approval for New York City casino project — Financial Times -

• Brian McGrory Returns to Boston Globe as Top Editor After 2023 Exit — The New York Times Business -
• Invesco’s QQQ outreach will continue until consent improves — Financial Times -
• Questions About Larry Ellison’s Financing Pledge for Paramount’s Bid for Warner Bros. — The New York Times Business -
• Juventus Shares Climb After Agnelli Holding Company Rejects Bid From Tether — Wall Street Journal -
• The Cult of Kohl’s Cash — Wall Street Journal -
• As Regional Theaters Struggle, Some Defy the Odds — The New York Times Business -
• How JPMorgan lured a Buffett protégé — Financial Times -
• Kenya sells ‘crown jewel’ of state assets to raise cash — Financial Times -
• Brompton counting on pricier bikes to fuel recovery after sales drop — Financial Times -
• SolGold Board Backs Jiangxi Copper’s Sweetened Takeover Bid — Wall Street Journal -

The ECB is expected to keep rates stable while revising growth forecasts higher, though Europe faces low growth as its biggest financial stability risk, and Argentina plans to loosen its currency exchange rate band to build reserves, as investors await clearer US economic data delayed by a government shutdown.

• Argentina to loosen currency exchange rate band in January — Financial Times -
• Low growth is now Europe’s biggest financial-stability risk — Financial Times -
• ECB to keep rates in a ‘good place’ and revise growth forecasts higher — Financial Times -

• RMP = QE? — Financial Times -
• Investors will have to wait until new year for clear data on US economy — Financial Times -
• The four ‘O’s that shape a bubble — Financial Times -

Australia is set to toughen gun laws and combat antisemitism following a deadly attack on a Jewish festival, while news emerged of Rob Reiner's death and his son's arrest, and media outlets introduce new opinion offerings amidst broader discussions on academic freedom and consumer trends in holiday advertising and travel.

• Opinion | A New Journal Opinion Offering — Wall Street Journal -
• FirstFT: Australia to toughen gun laws after deadly attack on Jewish festival — Financial Times -
• The Inconceivable Start to Rob Reiner’s Legendary Movie Career — Wall Street Journal -

• Rob Reiner’s son Nick arrested after deaths of filmmaker and wife — Financial Times -
• Bondi attacks show old hatreds are flourishing again — Financial Times -
• The politics of the Nobel Prize — Financial Times -
• The Holidays Came Early This Year, at Least for Advertisers — Wall Street Journal -
• How to Avoid an Airbnb Fail — The New York Times Business -
• Bondi becomes focus of fury over Australia’s tide of antisemitism — Financial Times -
• Australia to toughen gun laws after 15 die in attack on Jewish festival — Financial Times -
• FirstFT: Australia pledges to review gun laws — Financial Times -
• 5 Hotels for the Holidays — The New York Times Business -
• ‘Hero’ who tackled Bondi gunman draws global praise — Financial Times -
• My London: Prue Leith’s go-to addresses for eating, drinking and food shopping — Financial Times -
• The elite British private school that lost its way in Singapore — Financial Times -
• Australia’s ASX Compromised by Shareholder Focus, Regulator Says — Wall Street Journal -