US presses Europe on rules for big tech companies

The European Union (EU) and the United States (US) have resumed trade negotiations to address unresolved issues from a tariff deal reached in July. The US has urged the EU to reconsider its digital regulations to facilitate a reduction in import duties on steel and aluminum. Additionally, global discussions on wildlife protection and sustainable trade have commenced in Uzbekistan, with the EU advocating for stricter regulations on eel trade, facing opposition from Japan.

US business borrowing for equipment rose by over 5% in October, according to the Equipment Leasing and Finance Association (ELFA). This increase indicates a positive trend in capital investment among businesses, reflecting confidence in future growth and operational expansion.

Changpeng Zhao, the founder of Binance, faces accusations of facilitating payments to Hamas, following a complaint filed in a US court by families of victims from the October 7 attack. This legal action raises significant concerns regarding Zhao's involvement in cryptocurrency transactions linked to terrorism.

The United States has demanded that the European Union implement 'balanced' digital regulations as a prerequisite for reducing steel tariffs. This request comes amid ongoing trade negotiations aimed at resolving issues stemming from a controversial tariff deal established in July.

The G20 summit in South Africa culminated in the adoption of a declaration addressing critical global economic issues, despite a boycott by the United States initiated by former President Donald Trump. This declaration marks a significant moment for multilateralism, showcasing the resolve of G20 leaders to collaborate on pressing matters without U.S. participation.

Beacon Offshore Energy LLC, supported by Blackstone Inc., is initiating a drilling campaign in the Gulf of Mexico, targeting some of the most productive wells in the US with advanced technology to extract previously unreachable crude oil.

US equity futures have risen as traders anticipate a potential rate cut in December, coinciding with positive signals from US State Secretary Marco Rubio and Ukrainian officials regarding progress in peace talks aimed at resolving the ongoing conflict in Ukraine. Meanwhile, BHP has once again walked away from its takeover bid for Anglo American after a new approach was rejected.

The European Union (EU) and the African Union are commemorating 25 years of diplomatic relations with a summit in Angola aimed at enhancing economic cooperation between the two regions. This initiative comes as the EU seeks to strengthen its trade ties with Africa amidst growing competition from China and the United States.