In the US, airstrikes were carried out in eastern Syria on facilities linked to Iran-backed militias after recent attacks on American forces in the region. JPMorgan chief Jamie Dimon will sell 1 million shares in the bank next year, raising questions about how long he intends to stay. The core personal consumption expenditure index, a closely watched inflation measure, fell to its lowest level in two years, easing pressure on the US Federal Reserve to raise interest rates. The US economy grew faster than expected in Q3 with a 4.9% increase in GDP, the quickest pace in almost two years. ExxonMobil is still looking for deals following its $60 billion purchase of Pioneer and reported higher Q3 earnings. Chevron announced a $53 billion deal to buy fellow US producer Hess, and former US vice-president Al Gore criticised the relationship between political leaders and the fossil fuel industry. The IEA said oil demand would fall by almost half by 2050 if green pledges are kept, while the FT suggests the industry is betting on robust demand growth. In the UK, prime minister Rishi Sunak will focus on crime and energy in his next legislative programme. The ECB held its key interest rate and EU leaders backed using earnings from Russia’s frozen assets to help Ukraine. In business news, NatWest admitted failings in the way Coutts treated Nigel Farage and Ford reached a deal with the UAW union. In the science world, Copernicus warned that record sea surface temperatures are threatening ocean biodiversity and increasing the likelihood of hurricanes. Drugmakers Eisai and Eli Lilly presented research on the benefits of early Alzheimer’s treatment.
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