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ICELAND’S citizens could soon go the opposite way of the UK, with the country mulling a referendum on joining the European Union.
World Markets
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RECESSION-HIT Venezuela’s imports plunged by more than half in 2016 as the nation prioritised debt payments despite chronic product shortages.
Wall Street celebrates end to wild year
AMERICA’S stockmarket has closed its most dramatic year since the financial crisis, rocked by seismic shifts in global politics.
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BILLIONAIRE investor and Trump adviser Carl Icahn has targeted environmental and banking regulations as big drags on investment.
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GOLDMAN Sachs has been ordered to pay $120 million to settle charges that it manipulated a global benchmark for interest-rate swaps.
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VOLKSWAGEN has reached a deal for owners of the remaining 80,000 diesel vehicles caught in the company’s emissions cheating scandal.
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FRENCH judges convicted IMF chief Christine Lagarde of negligence for a state payout made while she served as France’s finance minister in 2008.
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ABU Dhabi’s Etihad Airways, citing “an increasingly competitive landscape,” says it is making an unspecified number of lay-offs.
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YAHOO shares fell more than five per cent on Thursday after the technology company disclosed a second massive data breach.
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THE Federal Reserve is raising a key interest rate for the first time in a year, reflecting a resilient US economy and expectations of higher inflation.
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THE US government says it is sanctioning two Middle Eastern exchange houses and an individual accused of helping to funnel cash to the Islamic State group.
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DONALD Trump has criticised Lockheed Martin’s F-35 fighter jet program as too expensive, his latest attack on large defence contractors.
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DOCTORS and health professionals have called on London Mayor Sadiq Khan to ban all diesel cars from the UK capital.
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A LEADER of Italy’s populist 5-Star Movement is pressing for a vote on whether the country should keep the euro as its official currency.
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IKEA’S full-year net profit rose 19.6 per cent to $6 billion, the group says, citing growth in both mature and emerging markets.
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GENERAL Mills, which has been struggling with weaker sales for its cereal and yoghurt, plans to cut between 400 and 600 jobs around the world.
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IRAN has proposed a state budget of $134 billion, loosening the purse strings as Donald Trump threatens to put renewed pressure on Tehran.
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FRENCH President Francois Hollande says he will not seek a second term in office in the presidential election in 2017, an unprecedented move.
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THE Pittsburgh-area McDonald’s franchisee who created the Big Mac nearly 50 years ago has died at the age of 98.
OPEC reaches deal to cut oil production
FOR the first time in eight years, cartel representatives have agreed to cut oil output by 1.2 million barrels a day.
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BRITAIN’S new plastic five-pound note, bearing the portrait of wartime Prime Minister Winston Churchill, has fallen foul of thousands of people.
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THOUSANDS of people are demonstrating across India to protest the government’s decision to withdraw large-denomination currency from circulation.
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A MEXICAN cement maker is ready to lend its services to Donald Trump to build the wall he wants to erect on the southern border of the US.
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THE Swiss are the richest people in the world, with an average wealth of $759,015 per adult, Credit Suisse says in its annual global wealth report.
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UK PM Theresa May has pledged to address business concerns that Britain could fall off a “cliff edge” into uncertain trading conditions after leaving the EU.
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ANGELA Merkel has confirmed she wants to run for a fourth term as German chancellor in next year’s election.
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PRESIDENT-ELECT Donald Trump has wrapped up a meeting with former Secretary of State Henry Kissinger in Trump Tower.
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GERMANY has opposed calls for debt relief for Greece after Barack Obama offered support for such a mechanism during a trip to Athens.
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THE Dow Jones has opened at a record high after the index capped off its best week since 2011 following Donald Trump’s surprise election win.
US stocks blast to new record high
US SHARES have surged to levels not seen since the 2008 financial crisis as Wall Street reassessed Donald Trump’s presidency.
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PAYPAL users can now send money to friends and family using just their voice, after the payment service announced it was to integrate into Apple’s Siri.
Strong stocks but expect Trump shocks
FINANCIAL forecasters are wiping egg off their faces after Donald Trump market meltdown warnings didn’t materialise, but experts caution there could be more volatility ahead.
US stocks turn higher after Trump victory
STOCKS are moving solidly higher in midday trading on Wall Street following Donald Trump’s upset victory over Hillary Clinton in the US presidential election.
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SCOTLAND will intervene against the UK’s central government in the legal battle over its formal divorce from the EU.
‘This is going to be a coin flip’
GLOBAL stock markets remain subdued ahead of the US election result, as investors prepare for the most turbulent trading session since Brexit.
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THE British government is preparing legislation to trigger the procedure to leave the EU, despite a push to overturn a court decision that may delay Brexit.
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US AUTHORITIES are recalling nearly three million Samsung washing machines following several reports of injuries, including a broken jaw.
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HILLARY Clinton is holding onto her narrow lead over Donald Trump in the US presidential race just days ahead of the election.
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SHUTTERED news website Gawker has reached a $40 million cash settlement with former wrestler Hulk Hogan over a leaked sex tape.
Trump pushes ‘fear index’ to Brexit levels
DONALD Trump’s odds are narrowing, and markets around the world are panicking. Strap yourselves in for Brexit 2.0.
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BARACK Obama’s top Trans-Pacific Partnership negotiator has predicted the trade deal will be approved after next week’s presidential election.
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SONY has downgraded its profit outlook to 60 billion yen from 80 billion yen estimated in July, due to losses related to the sale of its battery business.
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PRODUCTION company Lionsgate has signed a deal with YouTube star Grace Helbig to develop films and TV series.
10,000 people applied for this job
IT doesn’t have the most glamorous duties in the world, but nearly 10,000 people are vying for this receptionist job. Here’s why.
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TWITTER says it will slash nine per cent of its global workforce as it embarks on a restructure of the business.
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BOEING has reported third-quarter earnings of $2.97 billion, a 33.7 per cent rise, while Coca-Cola has reported third-quarter profit of $1.37 billion.
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NEW Zealand has edged out Singapore as the easiest country for doing business in the World Bank’s latest rankings.
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SYRIAN refugee children have been working in factories in Turkey making clothes for ASOS, an investigation has found.
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TWITTER, Paypal, Netflix and Spotify were brought down by a massive cyber-attack on Friday, US-based DNS provider Dyn says.
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CALIFORNIA regulators are mulling regulations that would allow self-driving cars that lack a steering wheel or pedals on public roads.
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AUSTRALIAN diplomats have visited two citizens detained in Shanghai as part of a Chinese police probe into Crown Resorts.
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ONCE Britain triggers its formal divorce from the EU by invoking Article 50, there is no going back, the British government’s top lawyer says.
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THE South Korean government has started its own investigation to find the causes of the spontaneous combustions of the Samsung Galaxy Note 7.
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EUROPEAN Council President Donald Tusk has raised the prospect that Britain might ultimately not leave the European Union.
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MICHAEL Jackson has led an annual list of the top-earning dead celebrities for the fourth straight year, outstripping Prince and David Bowie.
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SAMSUNG’S decision to recall Note 7s not only raises fresh doubts about the firm’s quality control but could result in huge financial and reputational costs.
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GIVING the British parliament a vote to “second-guess” the Brexit “is not an acceptable way forward”, the prime minister’s office says.
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BURNS surgeons are warning of the dangers of electronic cigarettes after treating a string of smokers injured by exploding devices.
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BRITAIN’S Treasury chief has warned of turbulence in coming years as the country negotiates its exit from the European Union.
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CHINESE cities have announced new restrictions on property purchases to try to cool soaring home prices stoked by property speculators.
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POLICE in northern Germany say that a Tesla driver is blaming the car’s Autopilot after crashing into the rear of a bus on a highway.
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DONALD Trump’s estimated net worth is $4.8 billion, $1 billion less than a year ago, largely due to New York’s softening real estate market.
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A GROUP of US senators have ordered Yahoo to explain why the hacking of half a billion accounts two years ago only came to light last week.
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APPLE has approached British Formula One team owner McLaren Technology Group for a strategic investment or a potential buyout.
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BILLIONAIRE investor George Soros says he will spend more than half a billion dollars to meet the needs of migrants and refugees.
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DONALD Trump could unleash a trade war and disrupt alliances with nations including “longtime ally Australia”, according to a US think tank.
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PUERTO Rico’s government says it plans to install 200 slot machines at the island’s main international airport to boost revenues.
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DONALD Trump says his plans to cut taxes, eliminate regulations and revamp US trade policy would create 25 million new jobs over a decade.
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THE beginning of the end for lawyers? A new start-up uses artificial intelligence to read documents and speed up the legal process.
US stocks hit new record high
IT’S BEEN a long time coming, and perhaps a cause for celebration. So what is the Dow — and why should you care about its new record?
US shares close at record highs
THE Dow and S&P 500 shot up to a new record this morning as global equity markets rallied again amid confidence in US economic strengthening.
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TOBACCO giant Philip Morris International has lost a major plain packaging case, and it’s not where you might expect.
Brexit: The sky didn’t fall in after all
STOCK markets panicked and the pound plummeted as the Brexit vote unfolded. But everything is starting to bounce back.
Brexit could lead to global shake-up
BRITAIN could plunge into recession that would have a global knock-on effect if people vote to leave the EU, campaigners led by PM David Cameron have warned.
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TOYOTA has been forced to suspend production at plants across Japan this week after earthquakes in the country’s south led to a shortage of parts.
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HACKERS have stolen $106 million from the Bangladesh central bank’s US account, prompting the nation to seek FBI assistance to track down the cyber crooks.
Nightmare comes true for Coke
IT’S been threatened for years, now the UK has introduced a sugar tax that could do billions worth of damage to Coca-Cola and others.
How Islamic State makes millions
THE source of the Islamic State terror group’s enormous cash reserves has been revealed, and looting is only the beginning.
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THE world’s most iconic front page could soon be very different. Time Magazine is considering a merger with a troubled tech giant, Bloomberg reports.
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APPLE Inc has a new proposal it hopes will resolve the standoff with the FBI over encryption and data privacy.
Original URL: https://www.news.com.au/finance/markets/world-markets/page/34