Can JPMorgan's New London HQ Revive Canary Wharf?

US initial jobless claims fell by 27,000 to 191,000 for the week ending November 29, marking the lowest level in over three years. This decline reflects a significant improvement in the labor market, as reported by Bloomberg's Enda Curran.

Saudi Arabia has reduced the price of its flagship crude oil to the lowest level in five years, reflecting ongoing signs of a surplus in the global oil market. This decision comes amid increasing production levels and a well-supplied market, which has pressured oil prices downward.

French President Emmanuel Macron's recent visit to China included a meeting with President Xi Jinping, resulting in the signing of a dozen cooperation agreements aimed at enhancing bilateral relations. Bruno Bezard, Managing Partner at Cathay Capital, emphasized the importance of such state visits for maintaining government communication and strengthening business ties.

Zipcar announced it will cease UK operations starting January 1, 2026, leaving groups like Rotherhithe Community Kitchen without access to essential vehicles for delivering meals to vulnerable residents. This decision has disrupted the volunteer group's plans, which had relied on Zipcar's car-sharing services for two years.

The cryptocurrency market is experiencing a significant downturn, with the value of its riskiest tokens plummeting by $200 billion, leading to widespread abandonment by retail investors who are facing substantial losses and questioning the integrity of the market.

Applications for US unemployment benefits fell to 216,000 last week, marking the lowest level in over three years, indicating that employers are retaining workers despite recent layoff announcements. This decline of 6,000 claims from the previous week suggests a more stable labor market.

Ukraine's debt management chief is scheduled to meet with investors in London as discussions continue regarding the country's latest bond restructuring proposal, which has not yet garnered consensus among warrant holders. This meeting highlights ongoing financial negotiations amid Ukraine's challenging economic landscape.

Fidelity International projects a strong performance for emerging markets in 2026, attributing this optimism to the anticipated weakness of the US dollar. The firm suggests that this trend will create favorable conditions for growth in these markets.