China's trade surplus hits record as exports surge 21%

China's exports surged at the fastest pace in almost three years in November, as importers stocked-up for the new year holiday. Shipments abroad rose 21-percent from a year ago, while imports were also up around 4-and- a-half percent. As a result, the trade surplus of the world's second-largest economy has grown to a record high of 75-billion- dollars.

Lufthansa to reportedly cut nearly 30,000 jobs by year end

Lufthansa will reportedly cut nearly 30-thousand jobs this month as it struggles to survive the coronavirus crisis. According to Germany's Bild am Sonntag newspaper, the carrier will shed 7-and- a-half thousand jobs by selling its catering unit, LSG.. with the remaining cuts affecting roles outside of the country. The report also says a further 10-thousand jobs would be cut in Germany next year.

Mike Ashley's Frasers Group in talks to rescue Debenhams

British billionaire Mike Ashley's Frasers Group is in talks with Debenhams about a possible last-minute rescue deal. The 200-year-old UK department store chain is set to shut all 124 outlets next year after it failed to find a buyer for the business. Ashley has previously bought other struggling High Street retailers, including House of Fraser and Evans Cycles.