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The pound reached its strongest level against a basket of currencies since the 2016 Brexit vote, driven by investor optimism over UK-EU reconciliation efforts and anticipated interest rate increases.
The Bank of England raised its base interest rate to 4%, the first increase in over three years, citing inflationary pressure from the Iran war and elevated oil prices as key factors.
U.S. employers added 165,000 jobs in October, bringing the unemployment rate down to 4.1%. Wage growth accelerated but remains below inflation levels.
Affordable vehicles priced between $20,000 and $29,999 are selling 20% faster than earlier in the year, but overall sales of compact cars and SUVs remain down due to limited supply and production shifts.
Hackers from North Korea targeted Binance through a sophisticated social engineering scheme, tricking an engineer into downloading malicious software that enabled a $6.3 billion cryptocurrency heist.
David Jones, the 188-year-old Australian department store, has collapsed into administration after pursuing expansion into suburban markets while abandoning its exclusive positioning, facing potential store closures and uncertain prospects for 6,000 employees.
