The yen surges against the greenback as hopes of a rate increase rise following stronger-than-expected CPI data for Tokyo in November. President Biden warns that President-elect Donald Trump’s proposed tariffs on neighbours Mexico and Canada would be counter-productive. In France, Prime Minister Michel Barnier offers a key concession in budget talks. The National Rally, however, says the move will not be enough to stave off a no-confidence vote against his government early next week. Following Direct Line’s recent rejection of takeover advances, Aviva approaches its rival’s shareholders directly which could pave the way for a hostile takeover bid.  

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