FINANCIAL TIMES
-Rebel forces have launched a lightning offensive in Syria's second city, Aleppo, posing the biggest threat to Bashar al-Assad's regime in the ongoing civil conflict. The militants, led by Islamist group Hayat Tahrir al-Sham, have said they are expanding their control inside the city. The assault comes as Assad faces increasing domestic and external pressures in a country shattered by years of civil war. The original rebellion was put down with military backing from Russia, Iran, and Iranian-backed militant groups, including Hezbollah. However, Israel has increased its air strikes on Iranian-affiliated targets in Syria and launched an offensive against Hezbollah in Lebanon, weakening the groups that have supported the Assad regime.
-Europe is developing technologies that could transform the world, including robotics, nuclear fusion, and quantum computers. To avoid repeating past mistakes and build the next era of innovation, Europe needs to celebrate and support experienced founders who invest in high-risk, high-reward ideas. DeepMind, founded by Demis Hassabis and Shane Legg, started when they met at the Gatsby Computational Neuroscience Unit at University College London. Hassabis, a Nobel-winning scientist and visionary AI researcher, was also an experienced founder. Twelve years prior to DeepMind, he founded Elixir Studios, a London-based games studio that closed after seven years. Hassabis expressed heartache when the industry no longer had room for small independent developers working on innovative and original ideas, stating that this was the sole purpose of setting up Elixir and something they could never compromise on.
-Ireland's general election saw Sinn Féin emerge with a narrow lead in an exit poll, despite the main opposition party's promise of policy changes, tax cuts, and spending pledges. The party won 21.1% of first preference votes under Ireland's proportional representation system, while Fine Gael was at 21% and Fianna Fáil had 19.5%. This is a "phenomenal result" for the nationalist party, which won the most first-preference votes at the last election in 2020 but has plummeted in polls in the past year. The result was unexpected as Fine Gael, the conservative party under Prime Minister Simon Harris, had been falling in opinion polls after a series of campaign missteps and was in third place going into the election. Fianna Fáil had been seen as being ahead of Sinn Féin in first place.
-The Italian government has ruled out issuing a decree to block UniCredit's takeover bid for BPM. The government has been discussing ways to counter the move, which has frustrated Rome's banking consolidation plans. Options included an emergency decree to circumvent the passivity rule, which blocks bid targets from making decisions that might affect the takeover approach. The Rome Treasury said the report of a decree published by the Financial Times was groundless. The passivity rule prevents BPM from increasing its stake in Monte dei Paschi di Siena and amending its own €1.3B offer to buy Anima.
-Hezbollah leader Naim Qassem has publicly endorsed a commitment in his group's ceasefire with Israel to move Lebanon's armed forces into the country's south, an area considered the militant group's heartland. Qassem affirmed Hizbollah's commitment to the deal, stating it was not a new agreement but an implementation of an existing UN resolution from the end of the 2006 war. The agreement confirms the withdrawal of the Israeli army from all occupied areas and the deployment of the Lebanese army south of the Litani River. Hizbollah has repeatedly claimed victory following the ceasefire, but much of southern Lebanon remains in ruins.
-Marine Le Pen has threatened France's Prime Minister, Nicolas Maduro, with further concessions on his 2025 budget to cut the country's public deficit. Barnier has already scrapped a planned electricity tax increase, a key demand of Le Pen's Rassemblement National party. Le Pen must decide whether to wring concessions from Barnier or join leftwing lawmakers in toppling him. She aims to show she is a resolved opponent, winning concessions in favor of the French people, particularly in purchasing power.
-Nissan's 2010 mass-produced electric vehicle release has been met with resistance from consumers worldwide. The industry, which spent billions on electric vehicles and batteries, is facing an existential crisis. Europe's leading battery champion, Northvolt, filed for bankruptcy, and Vauxhall owner Stellantis announced plans to shut its Luton factory, putting 1,100 jobs at risk. Ford has also announced plans to cut 4,000 jobs in Europe to address slower demand for electric vehicles.
-Trump's proposed 25% tariffs on imports from Mexico and Canada will be the most significant impact on GM, Ford, and Chrysler, according to analysts. The global auto industry has developed complex, cross-border supply chains over the past four decades, making the three biggest carmakers vulnerable to the impact of tariffs. The threat stems from the complex, cross-border supply chains the global auto industry has developed. The most exposed global carmakers are Stellantis, which sells around 40% of its cars and trucks in the US, while GM and Ford's totals are 30% and 25%, respectively.
-Germany's pro-business liberal party, the Free Democrats (FDP), has resigned after publishing an internal "D-Day" paper discussing plans to bring down chancellor Olaf Scholz's coalition. The author and FDP secretary-general resigned, taking responsibility for a scandal that rattling the party, which is struggling with low approval ratings ahead of snap elections in February. Scholz's coalition was down earlier this month, as Europe's biggest economy grapples with factory closures and one of the worst economic slumps since the early 2000s. An internal power-point presentation leaked to German media showed that the FDP had discussed "D-Day" options to quit the coalition weeks prior to Scholz's move.
NEW YORK TIMES
- Canadian Prime Minister Justin Trudeau visited President-elect Donald Trump at Mar-a-Lago in Florida on Friday night, following a threat by Trump to impose tariffs on goods from Canada and Mexico on Day 1. The visit makes Trudeau the first head of government from the Group of 7, a key forum of global coordination consisting of the world's wealthiest democracies, to visit the president-elect. Trudeau and Trump dined together on Friday evening, along with a delegation of senior Trump allies poised for top trade and security positions in his new administration. The visit comes amid pressure to persuade Trump to back down from his tariff threat. Trudeau is under pressure to persuade Trump to back down from his tariff threat.
-President-elect Donald J. Trump has reportedly endorsed the right-wing policy blueprint Project 2025, which aimed to overhaul the federal government. During the campaign, Trump claimed he had no involvement with the plan, despite many of its developers being his allies. He even criticized the policy goals as "absolutely ridiculous." However, as he prepares to return to the White House, Trump has recruited at least a half dozen architects and supporters of the plan to oversee key issues, including the federal budget, intelligence gathering, and his promised plans for mass deportations. Vought, one of the authors of Project 2025, is returning to the White House as President-elect's pick to head the Office of Management and Budget.
-Dr. Dave Weldon, a former Republican congressman and President-elect Donald J. Trump's pick to lead the Centers for Disease Control and Prevention, has been off the political stage for over 15 years. He is now running a private medical practice in Malabar, Fla., and was hardly regarded as a leading candidate to run the federal agency, a $9 billion behemoth with a staff of over 13,000. However, his views have often aligned with those of Robert F. Kennedy Jr., Trump's choice for health and human services secretary, and Dr. Weldon's potential boss. The two have maintained a 25-year relationship, and his views have often aligned with those of Kennedy Jr., who is also a potential boss for the agency.
-Syrian rebels have breached the city of Aleppo, marking the largest advance in years, according to rebels and a war monitor. The rebels, including Hayat Tahrir al-Sham, took control of "more than half of Aleppo" within hours without resistance from Syrian government forces, according to the Syrian Observatory for Human Rights. The rebels, including Hayat Tahrir al-Sham, took control of "more than half of Aleppo" without resistance from Syrian government forces. Independent Syrian media has shared images and videos of rebels in Aleppo neighborhoods and at well-known roundabouts, celebrating the situation. This has raised concerns that Syria's long-running civil war is reigniting with an intensity not seen in years.
-The largest offensive in years by Syrian opposition fighters against government forces in the northwest has sparked fears of reigniting a frozen civil war. The new rebel push began in Aleppo Province and has advanced, capturing several new villages, according to the Syrian Observatory for Human Rights. The offensive aims to stop attacks by government forces and their Iran-backed militia allies, according to a rebel commander. The new rebel push began on Wednesday and has been characterized by a deadly and deadly nature, indicating a potential escalation of the ongoing conflict.
-Early data from Adobe Analytics indicates that consumers are being drawn to discounts on various items, with Americans taking advantage of big deals on Thanksgiving and Black Friday. Shoppers spent $7.9 billion online on Friday, an 8.2% increase compared to last year, on top of $6.1 billion spent online on Thursday, which was around 9% more than the previous year. The increases were driven by large discounts on items like toys, electronics, and apparel. Target's executives have said that consumers were choosing cheaper items like candles and vases, eschewing big-ticket purchases. A clearer picture of Black Friday sales, including in-store spending, will emerge in the days ahead.
-Taiwan's President Lai Ching-te is planning to visit the Marshall Islands, Tuvalu, and Palau, which are among the dwindling number of Pacific Island nations that maintain diplomatic ties with Taiwan. Since the 1970s, dozens of countries have shifted ties to China, with Beijing claiming Taiwan as its territory and insisting that governments end diplomatic relations with Taipei if they want full relations with China. President-elect Donald J. Trump has called for Taiwan to sharply increase its military spending and complained about Taiwan's global dominance in semiconductors. However, Trump's proposed cabinet includes Republicans who have been deeply distrustful of China and sympathetic to Taiwan. Trump will bring to U.S. dealings with Taiwan and China.
- President Emmanuel Macron of France has taken the world on a live televised tour of the newly renovated Notre-Dame Cathedral in Paris, five years after it was damaged in a devastating fire. The landmark is expected to reopen to the public next month. Macron took viewers on a tour of the cathedral's dazzlingly clean interior and rebuilt roofing, a testament to the efforts made to restore the iconic landmark. Philippe Jost, the head of the reconstruction task force, told Macron that viewers are seeing the cathedral like they have never seen before. The cathedral is expected to reopen to the public next month. The French president's visit marks a significant milestone in the restoration of the iconic landmark, marking a significant milestone in the country's history.
-A coalition of Canada's major news outlets is suing OpenAI, the creator of the artificial intelligence chatbot, ChatGPT, for alleged copyright infringement on their work through ChatGPT. The Canadian Broadcasting Corporation and other major news outlets claim that OpenAI is illegally using their content. The joint suit was filed in the Ontario Superior Court of Justice by five of the country's major news companies, including the publishers of its top newspapers, newswires, and the national broadcaster. This is the first such lawsuit in Canada, similar to a suit against OpenAI and Microsoft in the United States in 2023 by The New York Times, which claimed copyright infringement of news content related to AI systems. Both companies have denied the suit's claims.
NEW YORK POST
-President-elect Donald Trump is determined to release Hamas-held hostages and support a ceasefire deal in Gaza before he takes office. Senator Lindsey Graham stated that Trump is focused on the hostages issue and wants the killing to stop and the fighting to end. Graham hopes that President Trump and the Biden administration will work together during the transition period to release the hostages and achieve a ceasefire. She visited the Middle East twice in the last month, meeting with Saudi Crown Prince Mohammed Bin Salman and Israeli Prime Minister Benjamin Netanyahu. Graham's visit comes after visiting the Middle East twice in the last month.
-JPMorgan Chase CEO Jamie Dimon has been communicating with Donald Trump through secret back channels, helping him develop a policy agenda before and since his White House victory. The 68-year-old Wall Street titan, who grew up in Queens, New York City, has acted as a "sounding board" for the incoming commander-in-chief's economic manifesto. Trump's inner circle held "no-holds-barred conversations" with Dimon, who was rumored to be eyeing a government job himself. The secret back channel focused on plans for cutting government spending, banking regulation, taxes, and trade.