Author: Reuters Econ

U.S. President Joe Biden has decided to officially block Nippon Steel’s proposed purchase of U.S. Steel, Washington Post reported on Thursday, citing two administration officials who were not authorized to speak publicly about the matter.

A look at the day ahead in European and global markets from Ankur Banerjee

Nine out of ten new cars sold in Norway last year were powered by battery only, registration data showed on Thursday, placing the country within reach of its target of only adding cars that are electric on the road by 2025.

Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market, a Reuters monthly poll showed on Tuesday.

The Japanese yen traded around five-month lows on Monday against a dollar underpinned by rising U.S. yields as thin year-end liquidity kept most currencies in tight ranges.

The Chinese-linked Salt Typhoon cyberespionage operation targeted AT&T’s systems, but the wireless carrier’s U.S. networks are now secure as it works with law enforcement and government officials, the company said on Saturday in its first acknowledgment of the attacks.

The U.S. Treasury Department may need to take “extraordinary measures” by as early as Jan. 14 to prevent the United States from defaulting on its debt, Treasury Secretary Janet Yellen told lawmakers in a letter on Friday.

U.S. stock index futures fell on Friday at the end of an upbeat holiday-shortened week for Wall Street’s main indexes that was driven by expectations around a traditionally strong period for markets.

South Korean retailer Shinsegae Group plans to set up a joint venture with Alibaba International, Shinsegae affiliate E-Mart said on Thursday.