G20 summit in South Africa adopts declaration despite US boycott, opposition

Walmart has officially launched its first store in South Africa, marking the company's debut in the African market. This expansion is part of Walmart's strategy to increase its global footprint and tap into new consumer bases.

Saudi Arabia's Crown Prince Mohammed bin Salman announced plans to invest up to $1 trillion in the United States, marking a significant shift from the Kingdom's traditional oil-centric economy towards technology and investment. This initiative aims to strengthen economic ties and diversify Saudi Arabia's financial portfolio.

The EU and US are set to resume trade negotiations next week after a two-month hiatus to address unresolved issues related to a controversial tariff deal made in July. High-level talks will take place in Brussels, involving US commerce secretary Howard Lutnick and trade representative Jamieson Greer, along with EU ministers and industry leaders.

Oil prices have settled at their lowest level in a month as the United States intensifies efforts to negotiate a peace deal between Russia and Ukraine. This decline reflects a reduction in the risk premium associated with oil prices, as market participants assess the implications of potential peace talks on future supply and demand dynamics.

G20 envoys have reportedly reached an agreement on a draft declaration despite a boycott by the United States. Sources indicate that the discussions among the representatives were productive, allowing for a consensus to be formed without US participation.

A draft declaration from the G20 reportedly includes references to 'climate change,' which contradicts the stance of the United States. This development highlights ongoing tensions between the G20 nations and the US regarding climate policy and international cooperation on environmental issues.

China has made its largest purchase of US soybeans in two years, which has positively impacted soybean prices and prompted sales from struggling farmers. This significant buy reflects China's ongoing demand for agricultural products amid fluctuating market conditions.

The U.S. government has canceled the release of the Consumer Price Index (CPI) report for October due to a federal government shutdown. This decision reflects the ongoing impact of the shutdown on economic reporting and analysis, which is crucial for market participants and policymakers.