Business

Russian President Vladimir Putin says there's no need to panic over the country's plummeting currency, despite the ruble weakening to its lowest level in over two years. Plus, Australia has passed a law banning social media for under-16s. Voters in Ireland are heading to the polls on Friday, but whoever ends up governing the country will be faced with a unique economic situation. Plus, political uncertainty in France has briefly driven its borrowing costs to the same level as Greece's for the first time.

Bernard Arnault, France's richest man and the billionaire head of luxury group LVMH, is set to take the witness stand in a Paris court in the trial of Bernard Squarcini, the former head of France's domestic intelligence agency. Squarcini is accused of using his contacts and influence for private gain by providing confidential information to Arnault, his main client. Plus, it's Thanksgiving Thursday but many Americans are finding it harder to host a traditional holiday dinner due to rising prices, especially of eggs. 

Another looming political crisis is battering France's reputation on global markets. Borrowing costs spiked as investors looked to a possible vote of no confidence over the government's budget proposal. That led the spread between French and German bond yields to hit its highest level since 2012. Also in the show: Ursula von der Leyen vows to increase the EU's defence spending, as Russia ramps up its own defence budget. 

A ceasefire deal between Israel and Hezbollah, brokered by the US and France, went into effect this Wednesday, paving the way for the more than 1.2 million Lebanese citizens displaced by war to return home. More than a year of cross-border fighting had cost Lebanon an estimated $8.5 billion in physical damage and economic losses by late October. Also in this edition, German workers are taking sick leave in record numbers. Our team on the ground finds out why. 

US President-elect Donald Trump has announced that he will slap a 25 percent across-the-board tariffs on all imports from Mexico and Canada unless they stop the flow of illegal drugs and migrants into the United States. Separately, he also vowed to impose a 10 percent duty on Chinese imports, in addition to other tariffs. Also in this edition: as France seeks to rally support for its opposition to the EU-Mercosur trade deal, French supermarket giant Carrefour is facing a boycott from meatpackers in Brazil.

"Wicked" and "Gladiator II" dominated the US box office over the weekend, with "Wicked" expected to rake in $114 million. But first, Huawei's launch of its first flagship phone on Tuesday shows it's ready to cut ties with Western-backed systems. Plus, with Thanksgiving just around the corner, Americans are worried about food prices.

Kenya's president has announced the cancellation of two major infrastructure deals with India's Adani Group, after US prosecutors charged its founder Gautam Adani and his associates with fraud over a $250 million corruption scheme. The scandal has wiped more than $20 billion off Adani's 10 listed companies' combined market value. Plus, it's the third Thursday of November, the official uncorking day for this year's Beaujolais Nouveau. Half of the wine is exported outside France. 

In the antitrust trial of the century, the US Justice Department has filed for tech giant Alphabet to separate from its Chrome browser, which is used by around 3.5 billion people globally. It's also asked the District of Colombia judge to rule that if Google continues with monopolistic misconduct, it could also lose its Android mobile phone operating system as well. In this business bulletin we take a closer look at the story, as well as Nvidia's earnings call, Australia's social media ban and French President Emmanuel Macron's defence of cognac.

US President-elect Donald Trump has picked Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce. The businessman and long-time friend of Trump's is slated to lead the incoming administration's efforts to implement wide-ranging tariffs on goods entering the United States, in a bid to boost local manufacturing. Also in this edition: we bring you the story of one South African power plant's difficult transition to green energy.

US President-elect Donald Trump has chosen Howard Lutnick, a Wall Street executive and co-chair of Trump's transition team, to be the next US commerce secretary. The billionaire has been a key economic adviser to Trump and a keen advocate of using tariffs as a tool to protect American jobs and industries. Plus, German police have moved to break up a protest camp outside Tesla's gigafactory in Germany, as environmental activists held out in tree houses.