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Trump's tariffs are a “risky political bet” President-elect Trump wants to impose high import tariffs on all goods from Mexico, Canada and China. This is risky, says Gordian Fritz, because “the end customer will foot the bill”. Up to 25 percent on everything Trump announces tariffs against China, Mexico and Canada.

According to Lebanese sources, US President Joe Biden and French President Emmanuel Macron are on the verge of announcing a ceasefire between Israel and Hezbollah. Israel's government plans to review the agreement on Tuesday. Diplomatic progress contrasts with intense fighting: Israel heavily attacked Hezbollah areas in Lebanon over the weekend, while Hezbollah fired hundreds of rockets at Israel. The USA and France are negotiating the implementation of a ceasefire plan that envisages the withdrawal of Israeli troops from southern Lebanon and the deployment of the Lebanese army. International monitoring is to be carried out by a five-member committee. The fighting since 2023 has claimed thousands of victims and displaced millions.

North Korea is expanding a factory for missiles used by Russia in the Ukraine war. The plant in Hamhung produces the KN-23, which can evade defense systems. New construction projects are set to increase capacity. The cooperation between Moscow and Pyongyang is alarming as it strengthens North Korea's missile program.

Sri Lanka is investigating allegations of bribery against the Adani Group, while Fitch places some bonds on “negative watch”. The allegations are weighing on Adani projects, shares and bonds, while investors such as TotalEnergies are halting investments. Further downgrades could make Adani's financing more difficult.

The residents of Pulau Ubin, a rural island near Singapore, enjoy a quiet life that is very different from the hustle and bustle of city life. However, with only 30 remaining residents and no influx from the city, the community is slowly dying out. The island, once home to 4,000 people, is known for its biodiversity and historical significance. Authorities are promoting the preservation of the island, but with an ageing population and limited development opportunities, its future remains uncertain.

Russia reports rapid territorial gains, 600 km² in November alone. Ukraine experienced the largest attack since the start of the war with 188 drones. Ternopil and Kiev were hit hard, infrastructure partially destroyed.  Military experts are calling for European ground troops in case US aid decreases after a possible Trump victory. Chancellor Scholz continues to reject cruise missile deliveries. The G7 discuss the situation, while Merkel defends her Russia policy but regrets the slow pace of rearmament.

The US Attorney's Office has dropped two major criminal cases against President-elect Donald Trump. Election fraud in Washington: Special prosecutor Jack Smith withdrew the case. Trump was charged with storming the Capitol and attempted election fraud.

Document affair in Florida: The prosecution's appeal was also dropped here. The move is justified by the immunity of sitting presidents. However, the proceedings could be resumed after Trump's term of office. Trump's spokesman celebrates this as a “victory for the rule of law.” Other proceedings at state level, such as in Georgia and New York, are still ongoing.

Thyssenkrupp Steel: plans to cut 5,000 jobs. Germany's largest and crisis-hit steel manufacturer wants to reduce production capacities in the Ruhr region, cut staff and close one site. The company wants to avoid compulsory redundancies. (WIWO) 

BioNTech: Share continues rally. After their post-corona crash, BioNTech shares are continuing their recovery - and are approaching their high for the year. The main reason: investors are hoping for progress in cancer therapy following the latest acquisition in China. (MM) 

Allianz: Involved in Bitcoin speculation? A subsidiary of the insurer has bought MicroStrategy corporate bonds. MicroStrategy is currently the company with the largest Bitcoin holdings worldwide.

  • DAX: Closes at >19,400 points (TGS)
  • Bundesbank chief: In favor of higher retirement age (NTV)
  • Varta: No alternative to expropriation of small investors (NTV)
  • Cum-Ex: Conviction of tax lawyer Hanno Berger final (HB)
  • Borussia Dortmund: Majority of shareholders do not oppose Rheinmetall sponsorship deal (FIN)
  • US dollar: Falls after nomination of Bessent as finance minister (FT)
  • Japan: Approves $140bn stimulus package (WSJ)
  • Ransomware attack: Hits companies from Starbucks to Sainsbury's (WSJ)
  • Formula One: Cadillac to join as new (and eleventh) team from 2026 (FT)
  • TikTok CEO: Sought advice from Elon Musk during US election (RT)

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