Economy

ECB vs inflation
Inflation falls unexpectedly in Europe

The inflation rate (HICP) in the euro area amounted to 1.9 percent in December, down compared to 2.1 percent in November.

This is shown by statistics from Eurostat.

An inflation rate of 2.0 percent was expected, according to the Trading Economics consensus forecast. According to Eurostat's flash estimate, inflation was 2.0 percent in December.

Core inflation fell to 2.3 percent from 2.4 percent. The expectation was 2.3 percent, in line with the preliminary outcome.

China's growth
China slows down - lowest growth in three years

GDP growth in China amounted to 4.5 percent in the fourth quarter, according to national authorities. The figure is the lowest in almost three years, while growth slows from the previous quarter, writes CNBC.

Lower domestic demand was behind the slowdown in growth, which was also slightly better than analysts had expected, writes Reuters.

For the full year, China's growth landed at 5.0 percent, thus meeting the government's target. China took a record-high share of global demand for goods during the year, thus compensating for weak domestic consumption and the property market.

US election  Global poverty
Record for the rich – own more than the poorest half

After Donald Trump made a comeback as US president, the world's billionaires received a substantial monetary boost and their collective wealth hit a new record last year. This is what the aid organization Oxfam writes in its new report on economic equality, according to several media outlets.

The assets of the ultra-rich increased by 16.2 percent last year to just over $18 trillion. For the first time ever, the world also has over 3,000 dollar billionaires, writes AFP.

In the last year under Trump, the fortunes of billionaires have increased three times faster than the average increase rate in the last five years. At the same time, not much has happened for the world's poorest people.

- The twelve richest people in the world today own more than the poorest half of the world's population, that is, four billion people, says Suzanne Standfast, Secretary General of Oxfam Sweden, to TT.

Trump's USA  Gaza War
Trump wants to charge a billion-dollar fee for a permanent seat on the Peace Council

Donald Trump wants countries seeking a permanent seat on his new "Board of Peace" to pay at least $1 billion, according to a draft of the statutes that Bloomberg has seen.

Trump himself will be the chairman, determine membership and have great influence over decisions, agenda and finances. Critics warn that the council could become an alternative to the UN.

The plans, which are linked to the reconstruction of Gaza, among other things, have met with resistance from several countries, and European governments are said to be skeptical of Trump's control over both power and money.