All 51 defendants in the Gisèle Pelicot trial were found guilty. Her ex-husband Dominique Pelicot received 20 years in prison after he confessed to having drugged and abused her for years and handed her over to strange men. Gisèle, who is considered a symbol of courage, demanded that the abuse videos be made public in order to help other victims. The case sparked protests and a debate about rape law in France.
Global dealings with the incoming Trump administration began this week, with the US Federal Reserve (Fed) expecting fewer rate cuts and a resignation announcement in Canada over tariff issues. The Fed cut rates as expected, but noted that Trump's planned tariffs, tax cuts and immigration restrictions could have an uncertain impact on economic policy. This uncertainty led to a more cautious stance towards further interest rate cuts.
In Japan and Europe, central banks also announced rate cuts to counter the weaker economic outlook, with trade relations with the US under Trump seen as a risk factor.
In Canada, Finance Minister Chrystia Freeland resigned after clashing with Prime Minister Trudeau over planned US tariffs on goods from Canada and Mexico. Trump's idea to create a Bitcoin reserve fund was rejected by the Fed, leading to a decline in the cryptocurrency markets.
Thousands of Amazon workers are striking in several US cities on Thursday to demand better wages and working conditions as Amazon refuses to engage in collective bargaining. The strike affects about 1% of the workforce and poses a challenge for the company during the busy holiday season. Amazon has so far not recognized the union and is continuing a strategy to prevent workers from organizing.
South Korea's President Yoon Suk Yeol, internationally praised for his tough stance on China and North Korea, caused international surprise and concern when he declared martial law on December 3. The measure, which only lasted for a short time, was seen as a step backwards into South Korea's authoritarian past and significantly damaged his presidency. Despite his foreign policy successes, domestic dissatisfaction grew, leading to a loss of confidence.
Bangladesh accuses Adani Power of violating the 2017 electricity agreement by not passing on tax benefits. The expensive no-bid agreement is now being called into question as Bangladesh owes millions in outstanding payments since July 2023. Bangladesh is pushing for renegotiations and could use the US corruption allegations against Adani to force changes. Adani rejects the accusations and emphasizes that he has fulfilled all contractual obligations.
At the summit on Thursday, the EU heads of state and government want to send a clear signal to US President-elect Donald Trump and reaffirm their unwavering support for Ukraine. They will also discuss the security and economic policy challenges of his return to the White House. A particular focus will be on Trump's repeated call for a quick end to the war in Ukraine and a possible peace agreement with Russia, in which he is also considering the territorial loss of Ukraine. EU relations with the USA and possible trade disputes will also be discussed.
Some prominent critics of Donald Trump, including former high-ranking officials from his first term, fear that he could order investigations into their tax records once he returns to the White House. These concerns are based on Trump's repeated threats to punish political opponents. Historically, there have been cases of US presidents using the IRS against political enemies, despite this being illegal. Critics such as former CIA and security officials have taken steps to “audit-proof” their tax returns for fear of unwarranted audits. Trump himself has said publicly that he would only order investigations into “crooked” individuals, but without directly mentioning the IRS.
On December 19, 2024, the Yemeni capital of Sanaa was rocked by airstrikes at night, killing at least nine people. These attacks came shortly after a missile attack from Yemen on Israel, which was intercepted. In response to this missile attack, Israel bombed Yemeni military installations, including ports and energy infrastructure. Iran also condemned the Israeli attacks in Yemen as a “violation of international law”.
On December 19, 2024, Ukrainian President Volodymyr Zelensky traveled to Brussels for the EU summit, where he called on the US and the EU to unite, especially in light of US President-elect Donald Trump's announcement to reduce aid to Ukraine. Selensky emphasized that only through cooperation with the USA and Europe could Putin be stopped and Ukraine saved. The EU summit will also focus on supporting Ukraine, strengthening its energy security and increasing arms production. In Ukraine, the clinic in Kryvyi Rih was damaged by a Russian missile attack, which also led to power cuts. In Rostov, a Russian oil refinery was damaged following a Ukrainian drone attack. South Korea also reported at least 100 North Korean soldiers killed in Ukraine.
The US could face another shutdown as Trump and Musk call on Republicans not to approve a stopgap funding bill. Without an agreement, the government will run out of money from Saturday. Trump warned that Republicans who agree could be challenged in the primaries. However, the White House emphasized that deals should be honored. A “stopgap” bill was negotiated to secure funding through March 14. Despite Trump and Musk's influence, some Republicans continue to support the compromise.
EU: Publishes paper on data protection in AI training. The European Data Protection Board yesterday published a paper on how it intends to protect the privacy and data of EU citizens without hampering AI development.
CDC confirms first severe case of H5N1 bird flu in the United States.
German arms exports reached a new high in 2024. According to preliminary figures from the Federal Ministry of Economics, exports worth 13.2 billion euros were approved by December 17 - an increase on the previous record of 12.2 billion euros in 2023.
On Wednesday, the US imposed new sanctions on four Pakistani companies allegedly linked to Pakistan's ballistic missile program. The US accuses the entities concerned of contributing to the proliferation and supply of such weapons.
British Foreign Secretary David Lammy has confirmed that the UK maintains diplomatic contact with the Syrian rebel group Hayat Tahrir al-Sham (HTS), despite its classification as a terrorist organization.
The EU will reopen the diplomatic representation in Damascus and provide 160 million euros for Syria. This was announced by EU Commission President Ursula von der Leyen after a meeting with Turkish President Recep Tayyip Erdogan in Ankara.
German delegation begins talks with HTS representatives in Syria For the first time since the fall of Bashar al-Assad, a German delegation is holding talks with the Islamist militia Haiat Tahrir al-Sham (HTS) in Damascus. The aim is to promote an inclusive transition process and the protection of minorities.
The EU Commission is stepping up its efforts to combat disinformation and investigate manipulation by platforms such as X, Facebook and Instagram, particularly following allegations in the elections in Romania. Vice-President Henna Virkkunen emphasized that the Digital Services Act (DSA) must be used to minimize risks to civil discourse and elections. While the DSA does not directly regulate content, there are already guidelines in place to protect elections. Romanian MPs are calling for penalties of up to six percent of turnover for violations. However, critics such as Claudiu Richard Târziu warn of censorship and restrictions on freedom of expression.
The Biden administration paid around 300 million US dollars to news agencies to produce negative headlines against Elon Musk.
- DAX: Remains stable, will react to Fed interest rate decision today (TGS)
- Merck: Secures rights to weight loss pill (HB)
- Lindner: Hotel chain is insolvent (NTV)
- Porsche-Piëch: Family pushes for plant closures (FT)
- Manz: Industrial equipment manufacturer is insolvent (HB)
- Fed: lowers key interest rate by 0.25 percentage points (WSJ)
- Microsoft: Buys twice as many Nvidia chips as the competition (FT)
- Japan: Exports recover (WSJ)
- France: Nuclear power plant opens 12 years late (HB)
- Indonesia: No further cut in key interest rate (WSJ)
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