House Gives Trump Rare Rebuke as Midterm Angst Grows Good morning. The House gives part of Donald Trump’s tariff agenda a thumbs down. Old Economy stocks are on the march. And hotel bakeries are the new trendy bars. Listen to the day’s top stories.

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NATO defence ministers insist Ukraine, not Arctic, is top priority The row over Greenland last month had sparked fears the 70-year-old military alliance could implode, but allies now appear to be getting back to business as usual.

The row over Greenland last month had sparked fears the 70-year-old military alliance could implode, but allies now appear to be getting back to business as usual. #EuropeNews

Private-equity barons have a giant AI problem Their leveraged bets on the software industry may soon cause big trouble

Their leveraged bets on the software industry may soon cause big trouble

Who wrangled the best trade deal from Donald Trump? The agreements look one-sided. Their consequences may not be

Countries with more leverage over America conceded less. This group controls everything from industrial supply chains to advanced semiconductor chips, and so could negotiate more

Bullshit Bots | Sohini Desai Is AI really coming for entry-level jobs first, and the rest of the workforce next? Tech CEOs certainly want you to think so.

AI can draft your work emails (awkwardly), answer your customer queries (badly), and make something that sounds like music. But its abilities are finite—and as Sohini Desai explains, we should be skeptical of the promises CEOs are making.

Trump Ending Minneapolis Immigration Enforcement Surge, Homan Says A “significant draw down” of federal immigration enforcement agents “has already been underway this week and will continue to next week,” Homan said.

A “significant draw down” of federal immigration enforcement agents “has already been underway this week and will continue to next week,” Homan said.

Rutte is wrong about European defense The NATO chief needs to be promoting a more balanced alliance with a strong European pillar — not undermining it.

OPINION: When NATO chief Mark Rutte said that Europe can’t defend itself without the U.S., he positioned himself as the spokesperson of the continent's strategic resignation.

Should a business leader run France? Most voters think so Should a business leader run France? Most voters think so

A survey reflects deepening distrust of politicians and suggests that 58 per cent of French voters now think a business leader would make a good president ⬇️

Saudi economy expands 4.9% in fourth quarter as oil sector boosts growth Saudi Arabia's economy grew 4.9% year-on-year in the fourth quarter, according to government estimates, bolstered by strong growth in non-oil activities and increased oil production.

Saudi economy expands 4.9% in fourth quarter as oil sector boosts growth reut.rs/46j34iH

Euro zone firms see deteriorating profits, ECB survey shows Euro zone firms expect revenues to keep rising this quarter but profitability is taking a hit, the European Central Bank's quarterly Survey on the Access to Finance of Enterprises showed on Monday.

Euro zone firms see deteriorating profits, ECB survey shows reut.rs/49WdPde

End of an era: half-century of nuclear arms control comes to a close New Start treaty, which expires this week, capped the number of missiles and warheads in US and Russian arsenals

End of an era: half-century of nuclear arms control comes to a close ft.trib.al/KH2Mhyq #FTEdit

U.S. container growth vanishes with world trade flows ‘moving on’ Trump tariffs have led major economies to reduce their reliance on the American market.

U.S. container imports ended 2025 in a four-month skid that’s likely to lengthen this year as trade shifts to other economies to avoid U.S. President Donald Trump’s tariffs.

How London can rise again The economy of Britain’s capital has suffered since 2008, but the city has what it takes to prosper

In the coming decades London’s wealth of talent means it is well-placed to participate in the AI revolution. But for the city to rise again, politicians have work to do

Europe’s housing emergency is a political choice — and it can be solved With the European Commission unveiling its first ever European housing package on Tuesday, the stakes could not be higher. This housing crisis is not a force of nature, it is a political failure, which means it is within our power to fix, writes MEP Brigitte van den Berg.

Europe’s housing emergency is a political choice — and it can be solved

Any Ukraine peace deal without Belarus risks Russian annexation Any Ukraine peace deal without Belarus risks Russian annexation

Any Ukraine peace deal without Belarus risks Russian annexation

‘Eduardo Chillida: Convergence’ Review: Sculpting Nature’s Forces The San Diego Museum of Art presents a revelatory retrospective on the Spanish artist, whose work pulses with the power of the natural world and his own heritage.

The San Diego Museum of Art presents a revelatory retrospective on the Spanish artist, whose work pulses with the power of the natural world and his own heritage. on.wsj.com/456fhGK

With Fed independence in crosshairs, will Supreme Court back Trump again? The U.S. Supreme Court's conservative justices appear ready to endorse President Donald Trump's power to fire a regulatory agency official despite job protections given by Congress. But they have signaled reluctance to give him similar authority over the Federal Reserve in a major case set to be argued next month.

With Fed independence in crosshairs, will Supreme Court back Trump again? reut.rs/3MAZqK7

New coins will commemorate 250th anniversary of American independence. Here’s how they’ll look. The Mint abandoned designs from Joe Biden’s presidency that highlighted women’s suffrage and civil rights, favoring classical imagery.

The U.S. Mint unveiled the designs for coins commemorating the 250th anniversary of American independence next year. They depict the founding documents and the Revolutionary War, but so far, not President Donald Trump.

Larry Fink and Rob Goldstein on how tokenisation could transform finance Ledgers haven’t been this exciting since the invention of double-entry book-keeping

“In the future, people won’t keep stocks and bonds in one portfolio and crypto in another,” write the BlackRock executives. Assets of all kinds will be bought, sold and held in a single digital wallet, they explain

Costco filed a lawsuit at the U.S. Court of International Trade saying the Trump administration’s tariffs imposed under the International Emergency Economic Powers Act are unlawful. https://wapo.st/4oz2Bz3

Energy prices in Europe are "significantly higher" than in the US and China, Alexander Röder of Plastics Europe points out at our #POLITICOSustainableSummit.

"That, of course, impacts our competitiveness ... which means Europe is losing jobs," he says.

Follow live: www.politico.eu/article/sust...

Euro zone business activity expands at fastest pace in 30 months in November, PMI shows Business activity in the euro zone expanded at its fastest pace in two-and-a-half years in November as a robust service sector more than offset manufacturing weakness, a survey showed on Wednesday.

Euro zone business activity expands at fastest pace in 30 months in November, PMI shows reut.rs/3KwRf0B

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Holiday lights illuminate Temple Square in Salt Lake City on Friday, Nov. 28, 2025. (Francisco Kjolseth | The Salt Lake Tribune)

Fifty years after Bruce Haigh resisted apartheid, South Africa honours fearless Australian diplomat Haigh’s name to be added to Wall of Names at Freedom Park in Pretoria, alongside former Australian PMs Bob Hawke and Malcolm Fraser * Get our breaking news email, free app or daily news podcast The former Australian diplomat Bruce Haigh would rightly be proud of his inclusion on South Africa’s Wall of Names at the country’s Freedom Park, honouring those who resisted apartheid. But the many who knew and loved Haigh, one of Australia’s least conventional but more effective and fearless diplomats, suspect he might also have been somewhat bemused that his name was being added to the wall on Friday at the same time as those of the former prime ministers Bob Hawke and Malcolm Fraser. Continue reading...

Fifty years after Bruce Haigh resisted apartheid, South Africa honours fearless Australian diplomat

Meta wins FTC antitrust trial over Instagram and WhatsApp deals The Federal Trade Commission failed to prove Meta's acquisitions of the apps allowed it to illegally monopolize the social networking market, a district court ruled.

The Federal Trade Commission has failed to prove Meta's acquisitions of Instagram and WhatsApp allowed it to illegally monopolize the social networking market, a U.S. district court ruled.

Judge sides with Meta in antitrust trial, will not spin off WhatsApp and Instagram A federal judge ruled against the Federal Trade Commission's antitrust suit alleging that Meta had stifled competition by buying up its rivals.

A federal judge ruled against the Federal Trade Commission's antitrust suit alleging that Meta had stifled competition by buying up its rivals. n.pr/3LNMPmo

EU missing from COP30 push to drop fossil fuels The European Union did not join 82 countries calling for a phase-out of oil, coal and gas.

The European Union was notably absent from a group of 82 countries calling for a clear path away from fossil fuels at the U.N. climate talks today.

U.S. Backs $1 Billion Loan to Restart the Three Mile Island Nuclear Plant Constellation Energy aims to bring mothballed plant back to life to power Microsoft AI agreement

The Trump administration will give Constellation Energy a $1 billion federal loan to restart the Three Mile Island nuclear power plant in Pennsylvania that suffered a partial core meltdown in 1979. on.wsj.com/4padJTK