Canada cozies up to India for trade deal after years of strain as Trump continues pushing the world into new alliances

Apple is contesting a significant antitrust penalty law in India, which could result in a fine of up to $38 billion, as revealed in a recent filing. This legal challenge highlights the ongoing scrutiny tech giants face regarding their business practices in various markets.

Global transactions valued at $10 billion or more reached a record 63, driven by deregulation under former President Trump and diminishing trade war concerns, leading to a surge in mergers and acquisitions on Wall Street.

The Federal Reserve's Beige Book indicates a deepening K-shaped economic recovery, highlighting disparities in growth across different sectors. This report was discussed in detail on Bloomberg Businessweek Daily, with insights from economists and financial experts ahead of the crucial December FOMC meeting.

Canada has announced additional measures aimed at protecting its steel and lumber sectors, which have been adversely affected by tariffs. This initiative reflects the government's commitment to support these critical industries amid ongoing trade challenges.

U.S. presidential envoy Steve Witkoff advised Yuri Ushakov, a senior aide to Russian President Vladimir Putin, on how to present a Ukraine peace plan to former President Donald Trump. This conversation is believed to have initiated the 28-point peace proposal that the U.S. has encouraged Ukraine to consider as a basis for negotiations.

Nobel laureate Paul Krugman has linked the recent collapse of Bitcoin to the diminishing influence of former President Donald Trump, suggesting that this downturn represents the unraveling of what he terms the 'Trump trade.' The Trump family has reportedly lost around $1 billion amid the cryptocurrency's decline over the past month.

Businesses outside the United States, particularly in Canada, are experiencing a decline in American customers during the holiday season due to increased costs from tariffs and additional fees. This trend highlights the impact of trade policies on cross-border commerce, especially during a peak shopping period.

American shoppers are reconsidering purchases from Canada and England due to a new $10 tariff on items valued under $27, which was introduced to combat drug trafficking and low-quality goods entering the U.S. market. This change has led to a decline in small-item purchases from these countries.