BUSINESS

Waning Influence Of OPEC+ In Spotlight As Prices Flag

The expansion of OPEC has proved to be a double-edged sword for the cartel as it means decision-making has become more difficult, according to Swissquote analyst Ipek Ozkardeskaya
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum Exporting Countries (OPEC) and its ten allies have struggled to boost flagging prices.
More news
With the vintage market booming, Li Pamp said many people could literally be sitting on unknown treasures

At Stockholm Auction, Vintage Ikea Goes High-end

At a chic Stockholm auction house, 122 carefully-curated items with unusual provenance went under the hammer on Monday evening: vintage furnishings from flatpack furniture retailer Ikea was sold for a total of 37,000 euros ($40,000).
A customer visits a secondhand clothes shop in the Harajuku district of Tokyo

Second-hand Clothes Finally Take Off In Japan

A second-hand pop-up store in Tokyo by casual clothing giant Uniqlo was a first for the Japanese firm, but also a sign that a local aversion to used garments may finally be fading.
Japan's Nippon Steel has agreed to buy US Steel Corp for $14.1 billion, the company said in a statement

Union Slams Nippon Steel's $14.1 Bn Deal For US Steel

A major US union representing steelworkers slammed the deal by Japan's Nippon Steel to buy US Steel Corp for $14.1 billion, which was confirmed on Monday just months after US Steel rejected an offer from its main domestic rival.
Musk gutted X's content moderation staff and endorsed a tweet espousing an anti-Semitic conspiracy theory

EU Launches 'Illegal Content' Probe Into Elon Musk's X

The EU announced "formal infringement proceedings" against Elon Musk's X platform on Monday, under a law cracking down on illegal online content, after identifying disinformation related to Hamas's October 7 attack in Israel.
Traders are keeping a close eye on the Bank of Japan's meeting this week

Asian Markets Mostly Down As Fed Rate-cut Rally Fades

Asian markets fell Monday as traders took a step back following last week's rally, with Federal Reserve officials looking to temper expectations the US central bank will cut interest rates several times next year.
The Hamas-run health ministry said an Israeli strike hit Nasser hospital, killing one person and injuring seven others

Israel Faces Mounting Outrage Over Gaza War

Israel faced mounting international pressure Monday over the rising civilian death toll and destruction of hospitals in Gaza, as it pressed on with its war against Hamas militants in the besieged Palestinian territory.
North Korean leader Kim Jong Un has overseen a record-breaking number of missile launches and weapons tests this year that have been condemned by the West

N. Korea Fires 'Long-range Ballistic Missile': Seoul

North Korea fired another internationally banned "long-range ballistic missile" on Monday, the South's military said, after Pyongyang voiced outrage over deeper nuclear cooperation between Seoul and Washington.
A Belgrade campaign rally in December for Aleksandar Vucic

Serbia Votes In Double-header Elections

Serbians headed to the polls Sunday in elections that will likely see populist President Aleksandar Vucic's ruling party extend its rule, as the strongman promised stability and vowed to curb inflation after months of protests.
Hurricane Otis left nearly 50 people dead and another 30 missing

Acapulco's Cliff Divers Are Back After Deadly Hurricane

With few tourists watching the daring feat, Abraham Estrada dives off La Quebrada, an emblematic Acapulco cliff where the spectacle has resumed but struggles to attract visitors after the Mexican resort was hammered by Hurricane Otis.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.