Oil prices are falling sharply to start the week, amid expectations that the new coronavirus Omicron variant will lead to tougher travel restrictions around the world. International crude benchmark Brent has slumped 3 percent to around 71 dollars a barrel. The International Energy Agency says markets are heading for surplus in supply, with the Omicron variant threatening to slow down the global economic recovery.

For more, Jeffrey Halley joined us. He's a senior market analyst for the Asia Pacific region at OANDA and joins us from Jakarta.

#BrentOil #EnergyPrices #OmicronVariant

Meta - the parent company of Facebook and Instagram, has banned seven surveillance companies from all its platforms. The banned companies are accused of targeting individuals using the personal information they share on social media, and include Black Cube, which was hired by the disgraced media mogul Harvey Weinstein to track women who had accused him of sexual abuse.

#MetaBans #SocialMedia #PrivacyRules

Crime levels in Los Angeles have recently spiked and affluent neighborhoods like Beverly Hills and Melrose are the scene of frequent robberies. The increase in brazen smash and grab crimes and home invasions are bringing fear and paranoia to the second largest city in the US. TRT World's Martin Markovits reports.

#California #CrimeRates #LosAngelesRobbery

At its end-of-year summit, the European Commission has proposed a system to jointly buy natural gas and create reserves. The suggestion comes as Europe is facing a serious gas shortage and with it a record spike in energy prices, which is hitting consumers and businesses alike. Sibel Karkus reports from Berlin.

#EuropeNaturalGas #EnergyPrices #NordStream

Unable to make ends meet and distraught over harassment by the police, Mohamed Bouazizi, a Tunisian street vendor, set himself on fire on December 17, 2010. His death a few days later sparked mass protests across the country and led to the ousting of president Zine El Abedine Ben Ali. Similar movements arose across the region, toppling governments from Libya to Syria. On the tenth anniversary of Bouazizi's death, we look at the economic impact of the Arab Spring uprisings.

Luciano Zaccara joined us from Doha. He's an assistant professor of Gulf Politics at the Qatar University. He's also director of the Observatory on Politics and Elections in the Arab and Muslim World.

#TunisiaArabSpring #MohamedBouazizi #KaisSaied

A Federal Court has opened the door for survivors of the US opioid epidemic to seek direct restitution from the Sackler family. It's the latest development in the years-long legal reckoning over the role of Purdue Pharma in getting millions of Americans addicted to its powerful painkiller Oxycontin. Purdue's former owners tried to seek protection through a bankruptcy settlement that kicked them out of the company, but allowed the family to keep most of their billions.

TRT World Senior Business Producer Paolo Montecillo was on set to present more.

#Opioid #Purdue #Oxycontin

- Bank of Japan scales back emergency pandemic funding

- UK retail sales rise a faster-than-expected 1.4% in November

- Oracle reportedly in talks to buy Cerner for $30B

#BankofJapan #UKRetailSales #Oracle

Shares in electric carmaker Rivian slumped around 10% in after hours trading, after the company slashed what was already a modest production outlook for 2021. The start-up says it expects to fall a few hundred vehicles short of its year-end goal of 1,200 units.

#Rivian #ElectricCars #RivianShares

- Turkiye's central bank cuts benchmark rate to 14%

- Creditors sue Evergrande for claims totalling $13B

- New Zealand's economy shrinks 3.7% in the Q3

#TurkiyePolicyRate #Evergrande #NewZealandEconomy

U-S authorities say the death toll from last weekend's tornado cluster is expected to climb as more bodies are found under the debris. As officials count the human toll, the extent of the record-breaking economic damage is becoming clearer. Households and businesses saw billions of dollars worth of property get swept away by the storms, in what could be a preview of future disasters brought on by the climate crisis.

We were joined by Joann Weiner in Lake Tahoe, California. She's a professor of economics and the director of the applied economics graduate programme at George Washington University.

#Tornado #CilimateCrisis #TornadoDamage