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Daily Briefing

Israel's ground offensive in Gaza meets stiff resistance, Hungary's Orban says he can still halt Ukraine's EU accession, and why a $6 trillion cash hoard could fuel more US stock gains.

Plus, what's it like to sit through a four-hour news conference with President Vladimir Putin - and his AI double? Listen to the Reuters World News podcast to hear how Russia Bureau Chief Guy Faulconbridge fared.

By Linda Noakes

Today's Top News

Hungary's Prime Minister Viktor Orban attends a European Union leaders summit in Brussels. REUTERS/Yves Herman

TODAY'S TOP STORIES

Hungarian Prime Minister Viktor Orban vetoed a major European Union aid package for Ukraine and warned he could still halt Kyiv's accession to the bloc after membership talks won EU approval. Here's what Ukraine needs to do to keep its membership bid going.
Israeli forces and Hamas fought fierce battles throughout Gaza, suggesting Israel's ground offensive was meeting stiffer resistance as the US nudged its ally to change a strategy that has inflicted a huge civilian death toll.
A cold wave extended its grip over China with temperatures plummeting to below freezing across most of the country. Blizzards swept across swaths of Russia, carpeting Moscow in one of the biggest snowfalls in decades.
A New York state appeals court denied Donald Trump's bid to overturn a gag order restricting the former US president from publicly talking about court staff in his New York civil fraud trial.
New York Republicans have picked Ethiopia-born former Israeli paratrooper Mazi Melesa Pilip as their candidate for the US House of Representatives seat vacated by George Santos' ouster.
Britain's Prince Harry was awarded $180,743 after London's High Court ruled he had been a victim of "modest" phone-hacking and other unlawful information gathering by journalists at Mirror Group Newspapers.

Business & Markets

The downturn in euro zone business activity surprisingly deepened in December, according to a closely watched survey which indicated the bloc's economy is almost certainly in recession.
China's property sector worsened in November as negative home buyer sentiment and indebted developers drove down sales and investment, while broader retail sector activity missed forecasts.
Investors wondering whether markets can continue their torrid rally are eyeing one important factor that could boost assets: a nearly $6 trillion pile of cash on the sidelines sitting in ultra-safe investment funds.
General Motors' self-driving vehicle business Cruise will slash 24% of its workforce as it works to restructure operations following an accident that forced it to halt US testing.
Costco Wholesale topped Wall Street estimates for quarterly sales and profit, as more customers turned to its stores to shop for cheaper groceries and essentials.

The Week Ahead

World markets head into year-end on a 'buy everything' high, with the Federal Reserve signaling it will switch to rate cuts in 2024.
Meanwhile, the Bank of Japan could finally hint at an end to its ultra-loose monetary policy. The road into 2024 for investors could be bumpy - here's a look at the week ahead in markets.
What to watch this weekend:
-- Chileans vote in a referendum on a new constitution that seeks to replace the country's dictatorship-era text.
-- Serbian President Aleksandar Vucic aims to secure another term in power for his populist party in a snap election largely prompted by public outrage over mass shootings.
-- Elon Musk has accepted an invitation from Italian Prime Minister Giorgia Meloni to attend a gathering of her right-wing political party.

Rebel fire and China's ire

A member of the insurgent Karenni Nationalities Defence Force rescues civilians trapped amid airstrikes, during a battle to take over Loikaw in Kayah State, Myanmar, November 14, 2023. REUTERS/Stringer

Generals from Myanmar's junta held peace talks in June near the border with China with representatives of three powerful ethnic armies. They sat across a wide table covered with blue cloth and decorated with elaborate bouquets.

But the rebels were playing a double-game.

We go inside Myanmar's anti-junta offensive

And Finally...

A plate of pasta at 'La Carbonara' restaurant in Rome. REUTERS/Guglielmo Mangiapane

Food is a serious business in Italy, as illustrated by a squabble that has broken out over how to make carbonara sauce.

Luca Cesari, a food historian and author from Bologna, faced a stream of online abuse after he posted a video on Instagram in which he presented what he said was the original version of the classic of Roman cooking.

Read more here: A carbonara controversy

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