Top Stories for Friday

 

Hello. The US is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker, Thailand will hold a snap election, and the EU looks ready to freeze Russian central bank assets held in Europe indefinitely. Plus, how minimalism is becoming a wealth-building strategy.

Today's Top News. by Reuters   A satellite image shows the very large crude carrier Skipper off Port Jose, Venezuela. PLANET LABS PBC/Handout via REUTERS United States The US is increasing pressure on Venezuelan President Nicolas Maduro. Its tanker seizure this week has put on alert shipowners, operators and maritime agencies involved in transporting Venezuelan crude. Washington also issued new sanctions on Maduro's family while Russia reached out to the embattled leader, raising the possibility he could seek refuge abroad. Obamacare subsidies are likely to expire after the Senate rejected competing proposals by Republicans and Democrats to address a looming healthcare crisis affecting some 24 million Americans. Republicans who control the House of Representatives show increasing signs of disunity over core issues like health insurance. President Donald Trump said he will withhold federal broadband funding from states regulating artificial intelligence in favor of "one central source of approval." Democratic Representative Don Beyer, who co-chairs a bipartisan caucus on AI, said the order put Americans at risk in "a lawless Wild West environment." In other news Bulgaria's government resigned after less than a year in power, leaving the Black Sea nation in turmoil on the eve of its entry into the euro zone. Greece & Balkans Bureau Chief Ed McAllister has more on the story for the Reuters World News podcast. Hong Kong's High Court will hand down a verdict on Monday in the landmark national security trial of pro-democracy campaigner Jimmy Lai. The case, which has run for 156 days, is the most high-profile use of Beijing's sweeping national security law. Thailand's Prime Minister Anutin Charnvirakul announced he would dissolve parliament and clear the way for elections, which will be held within 45 to 60 days. Charnvirakul is also due to speak to Trump about heavy border clashes with Cambodia, which have continued for a fifth day. Nobel Peace Prize laureate Maria Corina Machado said she aimed for a peaceful transition in Venezuela. She plans to take her award home, but has not specified when she will return after ending a year in hiding.

Business & Markets   Workers shield from the rain as they cross London Bridge. REUTERS/Toby Melville Britain's economy shrank unexpectedly in the three months to October, losing momentum in the fraught run-up to finance minister Rachel Reeves' budget, according to data released today. Russia's central bank said that plans by the European Union to use its assets were illegal. Separately, it said that it was suing Brussels-based financial institution Euroclear, which holds many of these assets. We round up Russia's potential responses to the decision. Even if overall inflation slows next year, Trump will still face political headwinds over the cost of living, according to this piece by Federal Reserve Correspondent Howard Schneider. Reddit filed a lawsuit in Australia's highest court seeking to overturn the country's world-first nationwide ban on people under 16 accessing social media. The message board website said the ban interfered with free political communication, citing the constitution. Do Kwon, a South Korean entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced to 15 years in prison for fraud. Kwon co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies. Investors welcomed reports that SpaceX is considering a potential IPO as early as June. The stock launch would help fund Elon Musk's Mars ambitions and could value the rocket and satellite company at more than $1 trillion. Artificial intelligence-related stocks have taken a bruising from a disappointing report from Oracle, reigniting concerns from some investors who feel AI-related shares are overvalued.