End-product of the Elections in The U.S.

             

                                    

{Reuters}

The U.S.

As election forecasts darkened for the Democratic party, Biden kept predicting things would turn around. This weekend, he was vindicated as Democrats retained control of the Senate, bucking history, media projections, and pundits who warned voters cared more about gas prices than Biden's warnings that equality and democracy were under threat.

Republicans were closer to taking the House, having won 211 seats compared to Democrats' 206, with 218 needed for a majority. But the final outcome might not be known for days as officials continue counting ballots nearly a week after Americans went to the polls.

Democrats in Congress aim to pass bills protecting same-sex marriage, clarifying lawmakers' role in certifying presidential elections, and raising the nation's debt ceiling when they return from the campaign trail today. They will look to make the most they can of their current thin majorities in both chambers before the new Congress is sworn in on January 3.

A shooting on the campus of the University of Virginia left three people dead and two wounded, university police said in a tweet, adding that the suspect was still at large and "armed and dangerous".

Thousands of smartphone applications in Apple and Google's online stores contain computer code developed by a technology company, Pushwoosh, that presents itself as based in the United States but is actually Russian, Reuters has found. The software found its way into U.S. Army and CDC apps.

BUSINESS

The global economic outlook is even gloomier than projected last month, the International Monetary Fund said, citing a steady worsening in purchasing manager surveys in recent months. Britain and the euro zone economies are likely to tip into recession next year, Morgan Stanley said, but the United States might make a narrow escape thanks to a resilient job market.

As the most volatile period in years for traders draws to a close, the year-end dash for cash and high-quality assets will likely prove more challenging than usual in markets buffeted by decades-high inflation and aggressive central bank rate hikes.

Bitcoin and other cryptocurrencies remained under pressure following last week's collapse of crypto exchange FTX while rival exchanges sought to reassure jittery investors of their own stability. Kris Marszalek, CEO of Singapore-based crypto exchange Crypto.com, refuted suggestions it could be in trouble, saying in a YouTube live stream address the platform would prove all naysayers wrong.

Shares in Japan's SoftBank plunged after the company reported a heavy loss at its Vision Fund investment arm for a third consecutive quarter. The shares sank 13% - heading for their biggest one-day loss in more than two and a half years.

Every time Lucid Group or Rivian Automotive sells an electric car, they are losing hundreds of thousands of dollars due to staggering raw material and production costs, their latest earnings statements showed. We look at the electric vehicle makers being slammed.

Tesla CEO Elon Musk is scheduled to take the stand this week to defend his $56 billion pay package against shareholder allegations it was rigged with easy performance targets and that investors were duped into approving it.