South Korea's President Yoon Suk Yeol has announced that he will fight to the end against his possible impeachment. This follows his controversial imposition of martial law, which was quickly withdrawn and plunged the country into a political crisis. Parts of his own party (PPP) are considering voting with the opposition for impeachment. A second impeachment attempt in parliament is scheduled for Saturday. Yoon also claims that North Korea hacked the election commission, raising doubts about the April 2024 elections in which his party suffered a defeat. Critics accuse him of extreme detachment from reality and loss of power.
Rebel leader Ahmad al-Sharaa and his group Hayat Tahrir al-Sham (HTS) have taken control of Syria following the ousting of President Bashar al-Assad. They are consolidating their power with the rapid establishment of a transitional government, police operations and talks with international representatives, which is raising concerns about inclusivity. Critics warn of a possible authoritarian Islamic regime, while HTS assures to protect minorities. The transitional government is due to remain in place until March 2025, but the constitutional reform process remains unclear. International actors are calling for the formation of an inclusive, non-sectarian government in accordance with UN Resolution 2254.
Luigi Mangione, 26, is charged with the murder of UnitedHealthcare CEO Brian Thompson. While many condemn the crime, he is celebrated online as a symbol against greed in the US healthcare system, sparking criticism and debate.
FBI Director Chris Wray announces his resignation for early 2025 after Donald Trump nominated the controversial Kash Patel as his successor. Trump had accused Wray of politicizing the FBI, especially after the search of his property in 2022. Wray defended the agency's independence and warned against political influence. His resignation marks another conflict over the neutrality of the judiciary.
A forest fire in Malibu, California, has burned over 4,000 acres (1,620 hectares) of land, destroyed nine buildings and forced 6,300 people to evacuate. Around 2,000 firefighters are battling the flames, which are only 7% under control. The difficult terrain is delaying containment, although favorable weather is allowing progress. Celebrities, including 99-year-old actor Dick Van Dyke, have had to leave their homes. The fire has not claimed any victims so far and the cause is still under investigation.
Sberbank wants to strengthen Russia's position in AI by 2030 despite sanctions. According to Deputy CEO Vedyakhin, the country is relying on its own generative AI models and talented developers to close the gap with the USA and China. The focus is on language-specific models and international cooperation, for example with BRICS countries. Wedyachin warned against excessive regulation that could hamper innovation and welcomed the return of Russian AI experts.
The US government has asked a court to reject TikTok's request to block a law forcing ByteDance to sell the app by January 19 or face a ban. TikTok argues that this threatens the freedom of expression of 170 million US users. The Department of Justice warns of national security risks from Chinese control. Should the ban come into force, TikTok would become unusable in the long term. The decision could be influenced by President Biden, who could consider extending the deadline, or President-elect Trump, who opposes a ban.
The FCA delays approval of Shein's IPO due to concerns about forced labor in the supply chain. An NGO has taken legal action as Shein may be using cotton from Xinjiang. Shein denies forced labor and recently published a sustainability report.
Insolvency proceedings have been filed for the FSG shipyards in Flensburg and Nobiskrug in Rendsburg owned by investor Lars Windhorst. The district courts of Flensburg and Neumünster have appointed lawyers Christoph Morgen and Hendrik Gittermann respectively as provisional insolvency administrators, according to spokespersons.
In Thuringia, an agreement was reached for CDU politician Mario Voigt to become Minister President in the first round of elections with the support of the Left Party. However, there are concerns that the AfD will support Voigt in the ballot. Should this happen, it could lead to political tensions, as was already the case in 2020. A final decision has yet to be made.
Chancellor Olaf Scholz described his talks with Putin in November as “frustrating”, but emphasized that it was necessary to make it clear to Putin that Germany will continue to support Ukraine and that he must withdraw troops in order to facilitate peace. Scholz announced that such talks would continue in the future, although he has no illusions about their success.
Trump plans to impose tariffs of 25 percent on products from Canada and Mexico to put pressure on both countries. Trudeau tried to convince Trump, but he is sticking to his line. Experts warn that the tariffs could hit Canada's economy hard, especially the automotive industry and the energy sector. Counter-tariffs from Canada would have little impact, while US consumers would have to expect higher prices and rising inflation.
Following the fall of the Assad regime, Turkey is benefiting from the return of refugees, its role as a peace broker and economic opportunities in the reconstruction of Syria. These developments are strengthening Erdogan's influence, including on the EU. Risks include possible conflicts with Kurdish groups and the loss of Syrian workers, as well as military tensions. Overall, Turkey is emerging stronger from the situation.
In Slovakia, thousands of doctors have resigned in protest against poor working conditions. The government is responding with a law that forces doctors to work in a state of emergency, otherwise they face prison sentences. Doctors are demanding better hospital facilities, more staff and a halt to privatization. They accuse the government of corruption and nepotism. If the wave of redundancies is not reversed, there is a threat of considerable restrictions in the healthcare system from January. Despite the criticism, Prime Minister Fico appears unconcerned, while Health Minister Sasko is hoping for an agreement.
The figure of the week - 16.5 billion kWh. That's how much nuclear power Germany imported in 2024. An absolute record! The total import volume amounted to 40 billion kWh. For comparison: in 2022, the last three German nuclear power plants produced around 32 billion kWh of electricity. This means that almost half of the nuclear energy that the FRG has renounced in order to make itself “green” is purchased abroad - in France, Switzerland and Belgium.
The State Security Service (SSS) of Georgia has declared that the organizers of the anti-government protests in Tbilisi intend to sabotage the country's presidential elections, which are scheduled for December 14, 2024. This is according to an official statement from the authority.
Shortly before the fall of Bashar al-Assad's government, Ukraine provided military support to the Syrian rebels and sent 150 drones and personnel (20 drone navigators) to Syria. However, the role of this aid was modest, writes the Washington Post.
CDU politician Mario Voigt has been elected as the new Minister President of Thuringia. The 47-year-old received an absolute majority of votes in the first round of voting in the state parliament in Erfurt, although his coalition of CDU, BSW and SPD does not have a majority of its own.
The inflation rate in the US rose to 2.7% last month, in line with Wall Street forecasts - and probably paving the way for an interest rate cut by the Fed expected next week. (FT)
- DAX: Rises by 0.3% - also due to US inflation data?
- (TAG) Commerzbank: Restructures private client business (WIWO)
- Mercedes-Benz: Reorganizes Board of Management (MM)
- Bosch: Employees attack management over job cuts (RZ)
- Federal Chancellor: Olaf Scholz requests vote of confidence (HB)
- US markets: NASDAQ closes at +20,000 points for the first time (CNBC)
- BlackRock: Sees investors moving away from cash despite “moderate” interest rate cuts (RT)
- Goldman Sachs: Expects more strategic M&A deals in 2025 (RT)
- Blackstone: Expects PE exits in the US to double next year
- (FT) Amazon: Gets into car sales (TC)
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