London-based energy giant BP announced on Wednesday it was appointing Meg O'Neill as CEO starting on April 1. The executive, who has been at the head of Australian group Woodside Energy for the past four years, is expected to focus her efforts on the company's core oil and gas activities in a bid to catch up with rivals. Also in this edition: YouTube gains the rights to broadcast the Oscars ceremony starting in 2029, underlining streaming's increasing power in Hollywood. 

Warner Brothers Discovery has rejected Paramount Skydance's hostile takeover bid, saying it carries many risks and is inferior to Netflix's offer. The company's board said the Ellison family that controls Paramount "consistently misled" them about guarantees as it urged shareholders not to sell their stocks. Plus, as oil prices rise following US President Donald Trump's order to blockade oil tankers in and out of Venezuela, we take a look at just how central oil is to the South American country's economy. 

Crude benchmarks were rising on Wednesday after US President Donald Trump said the US would put a stop to any traffic of sanctioned oil tankers in and out of Venezuela. The country's oil revenue is a lifeline for the Maduro government, which now mainly sells its barrels to China. Also in this edition: Warner Bros. Discovery is reportedly telling its shareholders to reject a takeover bid from Paramount Skydance. Plus: FIFA offers $60 tickets for the 2026 World Cup amid criticism over high prices.

The European Union has proposed changes to a 2023 law that effectively banned the sale of new internal combustion engine cars from 2035. Instead of cutting CO2 emissions by 100 percent from 2021 levels, carmakers would be required to reduce them by 90 percent, meaning small-scale production of petrol or hybrid cars could continue. The auto industry and some member states had been lobbying hard to get the rules relaxed in the face of slow market growth for EVs. 

Ford is abandoning top EV models like the F-150 Lightning as weak demand and hostile policies from the Trump administration weigh on sales. We take a closer look. Also in this edition: the EU prepares to water down its own upcoming ban on sales of new internal combustion vehicles, while France tries to support its own EV battery sector.

Despite logging a record trade surplus, economic data for November showed China's domestic woes are deepening. Retail sales grew at their slowest pace in three years and investment slowed sharply, signalling that Chinese consumers and businesses are becoming increasingly cautious. Plus, Roomba maker iRobot has filed for bankruptcy after struggling with competition, debt, tariffs and Amazon's buyout offer later being called off. It's now being taken private by its main Chinese supplier. 

France's prime minister has called for pushing back the final approval vote on the landmark EU-Mercosur free trade deal as an outbreak of lumpy skin disease sparks a fresh crisis in its agricultural sector. Also in this edition: credit default swaps for AI hyperscalers take off as investors worry about excessive debt, and French consumers tighten their belts for Christmas.

The US's motives are unclear after it seizes a sanctioned oil tanker off the coast of Venezuela. Also, France's last major home appliance maker goes bankrupt. Meanwhile, Disney strikes a deal with OpenAI. Plus, Lidl gets creative with its advertising, with a competition to win its "Eau de croissant".

The Federal Reserve, the US central bank, lowered its benchmark interest rate by 25 basis points on Wednesday. The move comes as the US economy deals with sticky inflation, slowing jobs figures and a lack of official data because of the government shutdown. Stock markets reacted favourably to the news initially, but were then weighed down by concerns related to the tech sector. Also in this edition: Donald Trump signals his support for a change of ownership at CNN. Plus, we bring you some data on Venezuela's oil industry. 

The US Federal Reserve has lowered its benchmark rate by a quarter percentage point, to a range of 3.5%-3.75%. However, it signalled there will be fewer cuts going forward amid a cooling labour market and persistently high inflation. The vote was not unanimous, with two board members calling for keeping rates unchanged, and Trump ally Stephen Miran wanting a larger cut. Also in the segment: the United Arab Emirates is turning towards AI as part of a strategy of ensuring its future in a post-fossil fuels world.