Manufacturing was weak in the U.S., Europe and Asia's biggest economies in November, business surveys showed on Monday, as subdued domestic demand and tariff uncertainties weighed.
BofA Global Research on Monday said it now expects the U.S. Federal Reserve to cut interest rates by 25 basis points at its December meeting, citing weak labor market conditions and recent comments from policymakers hinting at an early cut.
United Nations Secretary-General Antonio Guterres on Monday formally proposed slashing the core U.N. budget for next year by $577 million and cutting more than 18% of jobs.
U.S. manufacturing contracted for the ninth straight month in November, with factories facing slumping orders and higher prices for inputs as the drag from import tariffs persisted.
The United States will reduce import duties on South Korean automobiles to 15%, effective retroactively to November 1, Commerce Secretary Howard Lutnick announced Tuesday.
U.S. shoppers spent $9.1 billion online on Cyber Monday, Adobe Analytics said, capping a strong Black Friday weekend marked by splurges from wealthier consumers and deal-hunting by lower-income households.