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Afternoon News: Biden warns of US oligarchy, Sweden started building a storage facility for nuclear fuel...

 Israel intensified strikes on Gaza hours after a ceasefire and hostage release deal was announced, residents and authorities in the Palestinian enclave said, as mediators sought to quell fighting ahead of the truce's start on Sunday. Reuters photographers captured reactions to the news. Nidal Al-Mughrabi in Cairo and Maayan Lubell in Jerusalem join this episode of the Reuters World News podcast with their insights on the implications of the deal for the devastated enclave and broader Middle East relations.


President Joe Biden capped a half-century political career with a final Oval Office speech as he hopes to seal a legacy overshadowed by Democrats' failure to stop Donald Trump from returning to the White House.



Disappointment, denial and confusion flooded US TikTok upon hearing the news that Chinese owner ByteDance planned to shut off the app for its 170 million US users by Sunday, seemingly throwing in the towel on efforts to keep the popular video-sharing platform going.



South Korea's arrested President Yoon Suk Yeol failed to attend a second day of questioning by investigators, further stonewalling a criminal probe into whether he committed insurrection with his martial law bid.



British Prime Minister Keir Starmer arrived in Ukraine to sign a security and trade pact with Kyiv in a public show of support for President Volodymyr Zelenskiy before Trump returns to power.



Sweden started building a final storage facility for spent nuclear fuel, only the second such site in the world, where highly radioactive waste will be stored for 100,000 years.



South African police lowered a camera down more than a mile underground into an illegal gold mine to ascertain if any survivors or corpses were still there after a months-long siege by authorities in which at least 78 miners died.



As Donald Trump takes office on January 20, concerns over bond vigilantes in the US have surfaced, according to several market experts. They could be a formidable check on his power.



BP announced that it will cut around 4,700 staff, or over 5% of its total workforce, as part of CEO Murray Auchincloss' efforts to reduce costs.



Chinese officials and automakers are eyeing German factoriesslated for closure and are particularly interested in Volkswagen's sites, a person with knowledge of Chinese government thinking told Reuters.



Apple was dethroned as China's biggest smartphone seller in 2024, with local rivals Vivo and Huawei overtaking the iPhone maker after its annual shipments in the country declined 17%, data from research firm Canalys showed.



Hindenburg Research's founder said he would disband the firmwhose reports sparked heavy selling by investors and investigations by authorities, wiping billions from the market values of companies including India's Adani Group and US-based Nikola.



Britain's economic output returned to growth in November, the first month after finance minister Rachel Reeves announced big tax increases for businesses, but the expansion was smaller than expected.

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