Spanish Prime Minister Pedro Sanchez has announced a plan to tax non-residents from outside the EU up to 100 percent for real estate purchases, this as Spain faces a housing crisis. Also in this edition: TikTok denies reports that Chinese officials are exploring its sale to Elon Musk as a US ban on the app looms.

As it embarks on its final week, the Biden administration has announced sweeping new rules to control the export of US-made advanced AI chips. The new curbs are not just aimed at China, Russia, Iran and North Korea, but at most of the world – with the exception of just 18 of the US's closest allies. Plus, global oil prices continue to rise and shipping data shows dozens of tankers have dropped anchor, following the latest round of US sanctions targeting Russia's shadow fleet. 

The wildfires that have devastated the Los Angeles area are projected to carry an economic cost of up to $150 billion, with residents navigating an increasingly difficult insurance market as firms shy away from the risk of frequent natural disasters. We take a closer look. Also in this edition: Bangladesh's garment industry is on the rebound, but workers say their lives are as hard as ever.

Consumer prices in China grew barely 0.1% in December compared to a year before, marking the fourth consecutive month that price increases have slowed down. This raises the threat of a deflationary spiral which would further damage the country's economy. The Chinese government has made boosting domestic consumer spending its top priority for 2025. Also in this edition, we look at the economic incentives behind Mark Zuckerberg's decision to get rid of third-party fact checkers.

Tech companies showing off their latest innovations at CES 2025 in Las Vegas, one of the world's biggest industry events, are gearing up for a new era of protectionism under a second Trump presidency. With more than a third of the world's consumer electronics made in China, industry groups expect prices to significantly rise for consumers in the US. Also in this edition: US regulators probe Tesla's vehicle-summoning feature after several reports of crashes.

Meta, the owner of Facebook and Instagram, has abruptly announced it will get rid of independent fact-checkers in the US and replace them with a "community notes" system like the one used on X. CEO Mark Zuckerberg said there had been too much accidental censorship. Human rights groups accused him of currying favour with the incoming Trump administration. Plus, Getty Images and Shutterstock announce a plan to merge to better prepare for the age of AI. 

The US Department of Defense has added Chinese social media giant Tencent and battery leader CATL to a list of firms it says work with the Chinese military. We take a closer look. Also in this edition: Nippon Steel vows to keep trying to acquire US Steel under the new Trump administration, and the 2025 CES gets underway in Las Vegas.

US Steel and Nippon Steel have filed lawsuits in Washington in a bid to overturn last week's decision by the Biden administration to block their planned merger. In a scathing statement, the steelmakers accused the outgoing president of making the move for political gain. They also sued the USW union and rival bidder Cleveland-Cliffs, accusing them of colluding to kill the deal to try to monopolise the US steel industry. Also in this edition: a 276 kg bluefin tuna fetches €1.2 million at a New Year's auction in Japan. 

France's new ministers for finance and public accounts are meeting with top MPs to kick off talks aimed at getting a 2025 budget passed, this as concern grows over the country's ballooning deficit and debt. Also, New York City rolls out America's first-ever congestion pricing programme, aimed at funding repairs to the metropolis' dilapidated subway system.

US President-elect Donald Trump has upended bipartisan efforts to avert a government shutdown, after he rejected a stopgap bill and pressed Republican lawmakers to either renegotiate it or risk their political careers. The new bill would have kept federal funding running at the current level until March after the current short-term spending plan expires on Friday night. Plus, the ongoing political crisis in Georgia is taking a toll on its economy, especially tourism.