Business daily

In his New Year's address to the armed forces, French President Emmanuel Macron unveiled a plan to add €36 billion to the country's multi-year defence budget in its next update, as he said France needed to be more powerful in order to be feared amid rising geopolitical tensions. We take a closer look.

Elon Musk's xAI says its Grok AI chatbot will be restricted from generating sexualised images of real people after it was used to create pictures of women and children in varying states of undress. Also in this edition: France's traditional Epiphany cake gets subsidised for Celiac disease sufferers.

Tourists visiting France from outside the European Union now have to pay significantly higher entrance fees at some of the most popular sites in the country: €10 more at the Louvre museum and €3 more at the Palace of Versailles. This after a recent daytime heist at the Louvre exposed shortcomings in its maintenance and security systems. Plus, Ryanair's CEO has blasted what he called "stupid" passenger taxes in Brussels and said the company would reduce its flights to the city by 10 percent this year. 

China's customs administration unveiled its latest trade data this Wednesday and announced that the country saw a record trade surplus last year, topping $1.19 trillion, which is about 20 percent higher than in 2024. Exports continued to surge, showing the Chinese economy's reliance on supplying external markets as domestic consumption fails to pick up. Also in this edition, iconic New York department store brand Saks Global files for bankruptcy.

US President Donald Trump says inflation in the country is low enough for Fed chair Jerome Powell to deliver "a big, beautiful cut" to interest rates. US consumer prices rose 2.7% in December, still significantly above the Federal Reserve's 2% target. Meanwhile, the heads of global central banks come together in support of Powell, after the Justice Department's criminal investigation against him raised concerns over the Fed's independence. 

US President Donald Trump ramped up economic pressure on the Iranian regime on Monday by announcing he was imposing import duties on the goods of any country that trades with Tehran. The move could further disrupt US trade relationships with global economies like China and India. Also in this edition, we look at the global ramifications of any perceived attacks on the independence of the US Federal Reserve, as the Trump administration launches a criminal probe into Fed chair Jerome Powell. 

Criticism has been pouring in from Republican and Democratic lawmakers, former Fed chairs and top officials after the US Justice Department launched a criminal investigation into Federal Reserve chairman Jerome Powell. After Powell described the move as retaliation against the Fed for not lowering interest rates as quickly as US President Donald Trump wanted, concern over the central bank's independence pushed prices of safe-haven assets like gold and silver higher.  

US Federal Reserve chair Jerome Powell is under criminal investigation by the Justice Department, a probe he calls a "pretext" amid a pressure campaign by President Donald Trump to cut interest rates. Also in this edition: Germany's chancellor travels to India to boost trade ties as exports to China slump.

The EU is set to pass a trade deal with South American trade bloc Mercosur after Brussels unveiled new concessions this week. Also in this edition: HSBC has agreed to pay nearly €268 million to the French treasury to settle a case over fraud on dividend tax payments. Plus, a protest from hundreds of UK pubs over higher business rates seems to have been successful.

US President Donald Trump has called for the US military budget to reach $1.5 trillion in 2027, more than half of the allocated spending for this year, in a bid to build a "dream military" in "troubled and dangerous times". He also vowed to crack down on US defence firms who privilege payouts to shareholders and executives instead of investing in building new manufacturing plants. Plus, China's AI startup sector gets its litmus test with a string of stock market launches this week. 

Warner Brothers Discovery has rejected the latest takeover bid from Paramount Skydance, saying it's still inferior to a rival offer from Netflix. Despite a $40 billion guarantee from billionaire Larry Ellison, WBD's board says the plan is a risky leveraged buyout, financed by debt. But first, the United States says it's "selectively" removing sanctions to bring Venezuelan oil back into international markets, starting with the sale of up to 50 million barrels to the US. 

In a Truth Social post late on Tuesday night, US President Donald Trump announced that Venezuela would be "turning over" between 30 and 50 million barrels of oil to the US, where it will then be sold at market prices. In this edition, we explore what impact this move could have for the US as well as for China, which was the top buyer of Venezuelan oil before a US-imposed blockade last month. Elsewhere, Japan reacts angrily to China's decision to ban exports of "dual-use" items.

A severe cold snap has gripped Europe, causing deadly accidents and travel chaos.  In the German capital Berlin, freezing temperatures have made the situation even worse for tens of thousands of households that have been affected by a widespread power outage since Saturday.  A suspected arson attack claimed by a left-wing group is thought to have knocked electricity offline, sparking questions over the vulnerability of Germany's wider infrastructure. 

French farmers are continuing their protests across the country this Tuesday, in a bid to raise awareness about the difficult financial situation they face and the threat posed by the EU-Mercosur trade pact. This as Italy has reportedly planned to support the deal when EU ambassadors vote on the measure on January 9. Also in this edition: automaker Hyundai showcases its new humanoid Atlas robot at the Consumer Electronics Show in Las Vegas, saying the robots will be rolled out in production sites in 2028.

The Trump administration is reportedly planning to meet executives of top US oil companies to discuss Venezuela this week, after the administration declared it would "run" the country and US Big Oil firms would revive the oil industry. As Washington accuses Venezuela of "stealing American oil", we take a look back at its long history of involvement in the Latin American country's vital sector. 

US President Donald Trump has made no secret of his desire for American firms to take control of Venezuela's massive oil reserves. But the dilapidated state of the country's petroleum infrastructure will make exploiting those reserves difficult and expensive. Meanwhile, China is facing the loss of one of its key suppliers of sour, heavy crude. We take a closer look in this edition.

The European Union's controversial new rules on polluting industrial imports went into effect on January 1st, following a two-year transition period. Heavy goods such as steel, aluminium and cement are now subject to a new fee levied according to the amount of CO2 emitted during their production. China issued a statement slamming the measure as unfairly targeting Chinese goods.   

As Bulgaria formally adopts the euro currency this January 1st, residents in the capital Sofia queued up in front of ATMs just after midnight to withdraw new banknotes. Also in this edition, the world's 500 richest people added a record $2.2 trillion to their fortunes in 2025. And on the occasion of Netflix's 'Stranger Things' finale, we see how the show became a cash machine for the streaming giant over the past ten years.

It's only been three years since ChatGPT leaped onto the world stage, but artificial intelligence is now becoming an integral part of daily life. The technology has been integrated into search engines, social media apps and online shopping sites, but also shaken financial markets. Here's a look back at how AI moved the world in 2025.  But first, as Bulgaria remains divided on the eve of joining the euro, we take a look at possible implications of switching to the single currency. 

Bulgaria will formally adopt the euro as its currency starting on January 1, leaving behind the lev, which it has used since the late 19th century. The move is unpopular with almost half the country's population over fears it could spark higher inflation, something that mistrusted authorities have been trying to downplay. Also in this edition: a central district of Budapest bans short-term rentals starting this January in a bid to fix a housing crisis.

It's the end of an era for the Danish post office. Citing a 90 percent drop in letter-sending over the past quarter-century, PostNord has ended delivering paper letters in the country, a service first started in 1624. Plus, France is set to issue €310 billion in new sovereign bonds next year, a move that's set to complicate its effort to reduce its debt pile, which already stands at over 117 percent of GDP. 

China's cyberspace administration has issued new draft rules aiming to regulate how AI chatbots can affect users' emotional wellbeing. The proposed measures come amid a surge in new AI chatbots in the country and concerns over how they can affect minors' mental health. Also in this edition: Australians buy metal detectors in droves in the hope of prospecting gold. Plus, Beyoncé joins Forbes' billionaire club.

Iran's state TV says the country's central bank chief Mohammad Reza Farzin has stepped down, as the country faces growing protests over the high cost of living. The move comes after the Iranian rial plummeted to a record low against the dollar on Sunday. The central bank has been accused of printing too much money in an effort to shore up the currency, but instead pushing the nation on the verge of hyperinflation. Also in the segment: the price of silver briefly hits a record high. 

Over a month after announcing a massive data breach affecting 34 million of its users, South Korean e-commerce company Coupang announced this Monday it would offer 1.69 trillion won in compensation (around €1 billion) to customers in the form of vouchers. Also in this edition, former EU digital chief Thierry Breton gives his first interview since being sanctioned by the US. Plus, Nokia's archived mobile design plans are now open to the public.

London-based energy giant BP announced on Wednesday it was appointing Meg O'Neill as CEO starting on April 1. The executive, who has been at the head of Australian group Woodside Energy for the past four years, is expected to focus her efforts on the company's core oil and gas activities in a bid to catch up with rivals. Also in this edition: YouTube gains the rights to broadcast the Oscars ceremony starting in 2029, underlining streaming's increasing power in Hollywood. 

Warner Brothers Discovery has rejected Paramount Skydance's hostile takeover bid, saying it carries many risks and is inferior to Netflix's offer. The company's board said the Ellison family that controls Paramount "consistently misled" them about guarantees as it urged shareholders not to sell their stocks. Plus, as oil prices rise following US President Donald Trump's order to blockade oil tankers in and out of Venezuela, we take a look at just how central oil is to the South American country's economy. 

Crude benchmarks were rising on Wednesday after US President Donald Trump said the US would put a stop to any traffic of sanctioned oil tankers in and out of Venezuela. The country's oil revenue is a lifeline for the Maduro government, which now mainly sells its barrels to China. Also in this edition: Warner Bros. Discovery is reportedly telling its shareholders to reject a takeover bid from Paramount Skydance. Plus: FIFA offers $60 tickets for the 2026 World Cup amid criticism over high prices.

The European Union has proposed changes to a 2023 law that effectively banned the sale of new internal combustion engine cars from 2035. Instead of cutting CO2 emissions by 100 percent from 2021 levels, carmakers would be required to reduce them by 90 percent, meaning small-scale production of petrol or hybrid cars could continue. The auto industry and some member states had been lobbying hard to get the rules relaxed in the face of slow market growth for EVs. 

Ford is abandoning top EV models like the F-150 Lightning as weak demand and hostile policies from the Trump administration weigh on sales. We take a closer look. Also in this edition: the EU prepares to water down its own upcoming ban on sales of new internal combustion vehicles, while France tries to support its own EV battery sector.

Despite logging a record trade surplus, economic data for November showed China's domestic woes are deepening. Retail sales grew at their slowest pace in three years and investment slowed sharply, signalling that Chinese consumers and businesses are becoming increasingly cautious. Plus, Roomba maker iRobot has filed for bankruptcy after struggling with competition, debt, tariffs and Amazon's buyout offer later being called off. It's now being taken private by its main Chinese supplier. 

France's prime minister has called for pushing back the final approval vote on the landmark EU-Mercosur free trade deal as an outbreak of lumpy skin disease sparks a fresh crisis in its agricultural sector. Also in this edition: credit default swaps for AI hyperscalers take off as investors worry about excessive debt, and French consumers tighten their belts for Christmas.

The US's motives are unclear after it seizes a sanctioned oil tanker off the coast of Venezuela. Also, France's last major home appliance maker goes bankrupt. Meanwhile, Disney strikes a deal with OpenAI. Plus, Lidl gets creative with its advertising, with a competition to win its "Eau de croissant".

The Federal Reserve, the US central bank, lowered its benchmark interest rate by 25 basis points on Wednesday. The move comes as the US economy deals with sticky inflation, slowing jobs figures and a lack of official data because of the government shutdown. Stock markets reacted favourably to the news initially, but were then weighed down by concerns related to the tech sector. Also in this edition: Donald Trump signals his support for a change of ownership at CNN. Plus, we bring you some data on Venezuela's oil industry. 

The US Federal Reserve has lowered its benchmark rate by a quarter percentage point, to a range of 3.5%-3.75%. However, it signalled there will be fewer cuts going forward amid a cooling labour market and persistently high inflation. The vote was not unanimous, with two board members calling for keeping rates unchanged, and Trump ally Stephen Miran wanting a larger cut. Also in the segment: the United Arab Emirates is turning towards AI as part of a strategy of ensuring its future in a post-fossil fuels world. 

As Australia's ban on social media for children under 16 takes effect, we speak with Jess Butcher, a tech entrepreneur and founder of digital wellbeing foundation ScrollAware. In spite of being opposed to over-regulation, she tells us she supports the Australian ban on account of the scale of the "harms that these platforms are causing" to users and the failure of tech companies to act meaningfully. 

Automotive heavyweights Renault and Ford are to join forces to develop a line of compact, more affordable Ford-branded electric vehicles and commercial vans in a bid to curb a wave of cheaper Chinese electric models gaining ground in Europe. Ford CEO Jim Farley said in a joint statement: “We will combine Renault Group's industrial scale and EV assets with Ford's iconic design and driving dynamics to create vehicles that are fun, capable and distinctly Ford in spirit." Also in this edition: Microsoft announces $23 billion in AI investments in Asia.

US President Donald Trump said on Monday that he would allow the export of US chipmaker Nvidia's second-most powerful AI chips to China, in spite of criticism saying such a move could end up benefitting Beijing's military. Trump said the US would collect a 25 percent fee on these sales and added that he'd informed Chinese leader Xi Jinping of his decision. Also in this edition, we look at why Chinese cars are increasingly popular among French consumers.      

China exported over $1 trillion worth of goods more than it imported for January through November, a record amount that is increasingly seen as untenable by the country's Western trading partners. We take a closer look. Also in this edition: Netflix's acquisition of Warner Bros. faces regulatory hurdles and pushback from Hollywood unions.

Russian President Vladimir Putin has landed in India for talks with Prime Minister Narendra Modi for the first time since the start of the war in Ukraine. The visit aims at strengthening economic ties between Moscow and New Delhi. Also, Italian police visit the headquarters of 13 major fashion brands as part of an investigation into luxury good supply chains. Plus, hundreds queue up in Auckland for Ikea's grand opening. 

French President Emmanuel Macron is visiting China with a delegation of business leaders, seeking more Chinese investment in France and a reduction in the trade deficit. We take a closer look. Also in this edition: the Trump administration plans to loosen US fuel efficiency standards, to the delight of carmakers and the dismay of climate advocates.

The European Commission has unveiled plans to provide €90 billion to support Ukraine over the next two years, by either using frozen Russian assets or borrowing money on international markets. Although the EU has already been using interest earned on Russian central bank assets held up in Europe to help Ukraine, Belgium is firmly against tapping into the actual funds. But first, the EU has presented a new strategy to reduce its dependence on China for rare earths. 

The European Union will release an updated plan this Wednesday to end its dependence on China for rare earths. These critical minerals are considered crucial in a number of high-stakes supply chains, notably in the defence, renewable energy and auto sectors, yet Beijing dominates both their mining and refining globally. Also in this edition, we look at how deforestation may have helped exacerbate recent floods in Indonesia.