We’ve summarised the top stories of the last week into an easily digestible briefing, so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week.

UK Business & Economics

1. BT has agreed to pay workers who earn less than £50,000 an extra £1,500. This is approximately 85% of UK-based employees. The Communication Workers’ Union said this would mean wage rises ranging between 6% and 16%.
2. UK households could save up to £310 a year with an extended scheme to insulate Britain’s least well protected homes. It is estimated to cost the government £8bn.
3. Britain’s public sector net borrowing totalled £13.5bn in October. The government’s mini budget on November 17th laid out a plan to cut spending but will not be active until January 2025. 

International Business & Economics

1. Canada’s foreign minister Mélanie Joly unveiled a $1.7bn strategy for the Indo-Pacific on Sunday, aiming to expand the country’s military presence in the region to counter “disruptive” Chinese influence and diversify trade.
2. This year’s Black Friday appeared to be more subdued than in previous years, with some forecasters predicting sales will be up just 1% on last year when retailers were still recovering from the pandemic.
3. The Spanish government has approved a series of measures to help low-income mortgage holders cope with the rising cost of living. This includes a five year grace period which lower income households can pay lower interest on their loans.
4. International tourism is on track to reach 65% of pre-pandemic levels by the end of this year according to the World Tourist Organisation. In the first nine months of 2022, more than 700m people visited another country.
5. Christian Lagarde has announced that the European Central Bank is “not done” raising interest rates. The ECB president’s comments came after European wholesale gas prices dropped which has sparked some investors to speculate that the ECB will move to smaller rate rises. 

UK Politics

1. Judges from the Supreme Court ruled that Scotland’s devolved parliament cannot pass a law calling for referendum without the approval from the British government.
2. Rishi Sunak has claimed the “golden era” of Anglo-Chinese relations are over as he vowed to evolve the UK’s stance towards China with a “robust pragmatism”.
3. More than 50 conservative MPs have urged Rishi Sunak to change “quirks” in modern slavery laws in order to make it easier to deport illegal immigrants travelling from “safe” countries such as Albania. 

International Politics

1. Protestors in Shanghai took to the streets again on Sunday, finishing a week of demonstrations against China’s strict anti-covid measures. Asian stock markets fell amid the prospects of further unrest, and the number of new infections reported hit a record of 40,000.
2. Iranian security officials fired at protestors in the province of Sistan-Baluchistan on Friday, leaving dozens of casualties according to activists tracking the demonstrations.
3. A “substantial majority” of the Fed’s policymakers judged it would “likely soon be appropriate” to slow the pace of monetary tightening, with inflation reducing at last and the Fed cautious not to overshoot it.
4. Zelensky accused Russia of “crimes against humanity” whilst addressing the UN security council, as Russian missiles rained down on Ukraine’s infrastructure, causing mass blackouts. 
5. The US Supreme Court has cleared the way for Congress to obtain Trump’s tax returns, which since 2019 he has tried to shield from Democratic lawmakers investigating potential conflicts of interest during his presidency.

Written by Philip Weaver and Rob Webb