A ceasefire between Israel and the Iranian-backed Hezbollah has come into force following mediation by the USA and France. The conflict, triggered by the Gaza war, has killed thousands in over a year. The Lebanese army is preparing to secure the south of the country as Israel gradually withdraws. Many civilians are returning to their homes despite destroyed villages and continuing insecurity. The ceasefire is intended to be permanent, but both sides warn of consequences in the event of violations. The USA and France are accompanying the implementation with UN support, while Israel emphasizes that it has considerably weakened Hezbollah.
Hundreds of Chinese investors who lost their savings in the collapse of real estate developer China Evergrande are exerting pressure on the authorities with cautious protests. They are demanding an update of the investigation that has been ongoing for over a year. Small groups of investors have been visiting government offices in Shenzhen one after another to attract attention without being perceived as illegal protests. Although these actions are unlikely to affect the court-ordered liquidation of Evergrande with debts of over 300 billion dollars, they show the deep frustration of the middle class who have lost their investments. The protests also reflect growing social tensions in China due to economic pressures. Investors had previously protested in 2021/22. This is the first major action since then. China's government is closely monitoring such social unrest as it considers social stability to be essential for economic prosperity.
India's parliament was adjourned again as MPs called for discussions on the US charges against Gautam Adani. Adani is accused of bribery and deception, which he denies. The opposition accuses Prime Minister Modi of protecting Adani, which the BJP rejects. Adani shares recovered slightly, while TotalEnergies halted investments and Kenya canceled a project with Adani.
Russian troops are making rapid progress in eastern Ukraine, capturing 600 km² in November, the largest area since the start of the war. The focus is on the Donetsk and Kharkiv regions. In Donetsk, Russia is attempting to break through Ukrainian defense lines near Kurakhove in order to advance towards Zaporizhia. Ukrainian troops are fighting back, but are struggling with delays in Western military assistance. President Selensky describes the situation in the east as the most difficult of the year. Russia currently controls 18% of Ukraine, including large parts of the Donbas, Zaporizhia and Kherson.
Volkswagen has sold its factory in Xinjiang after the company came under pressure due to allegations of forced labor. The buyer is Shanghai Motor Vehicle Inspection Certification (SMVIC). VW has extended its partnership with SAIC until 2040 and plans to develop 18 new models, including electric cars, exclusively for China by 2030.
In Brandenburg, the SPD and the Sahra Wagenknecht Alliance (BSW) have agreed on a coalition agreement after almost a month of negotiations. Among other things, the parties want to reduce bureaucracy, drive forward digitalization and further reduce daycare fees for parents on low incomes. Maintaining hospital locations and increasing the number of police posts to 9,000 are also part of the agreement. A point of contention regarding the deployment of missile defense systems was recently resolved. The treaty is to be officially presented on November 27 at 2 p.m. before it is ratified at the party conferences. Woidke is expected to be re-elected Prime Minister on December 11.
Donald Trump has begun the formal transition process for his inauguration, but his team is deviating from traditional procedures in some areas. No ethics pledge has been signed and FBI checks have been waived. The team said it already has sufficient safeguards in place. In addition, the transition is to be privately funded, without government funding from the General Services Administration (GSA). Despite concerns from Joe Biden's team, the handover process will continue. Trump is also nominating close confidants for economic posts, including Jamieson Greer as Trade Representative and Kevin Hassett for the National Economic Council. There are also reports that Trump is considering talks with North Korea's Kim Jong Un to ease tensions.
Russia has blacklisted several British ministers in response to the UK's support for Ukraine. Those affected include Deputy Prime Minister Angela Rayner and Home Secretary Yvette Cooper. This came after the UK imposed new sanctions against Russia. There were also reports of defective mortar shells in the Ukrainian army, which were temporarily withdrawn from use. Russia continues to carry out attacks on Ukraine, including in Sumy and Kiev, while NATO and Ukraine held consultations on the new Russian medium-range missile.
- Verdi: Wants to paralyze Amazon logistics on Black Friday (NTV)
- Habeck: Demands electricity subsidy for industry (WLT)
- Crisis in the automotive industry: Supplier Gerhardi also insolvent (MM)
- Debt brake: Investors bet on its end (NTV)
- KfW Barometer: Fewer companies are investing in climate protection (KfW)
- Trade: Trump wants to introduce tariffs on goods from Canada and Mexico (WSJ)
- Blackstone: Investing +$500m in southern European hotels (FT)
- Scott Bessent: Trump's Treasury Secretary of choice wants tax cuts (CAP)
- Mistral AI: French AI startup expands into Silicon Valley in search of talent (EN)
- Israel: Agrees to ceasefire with Hezbollah (SPG)
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