Good morning! Here’s what you need to know.
The US could raise rates soon. The number of Americans filing for unemployment benefits fell to a 43-year low last week, pointing to a rapidly tightening labour market that could allow the Federal Reserve to raise interest rates next month.
Deutsche Bank execs might have to pay back bonuses. The bank is considering whether to demand that former top managers repay bonuses given the bank’s poor performance.
The UK is leaving the House of Lords alone. The British government said it has dropped plans to curb the power of the unelected House of Lords, which it had been considering following an embarrassing policy defeat.
A lot is riding on the Italian referendum next month. Italian Prime Minister Matteo Renzi said he would not head a technical government tasked with preparing a snap election if the “No” vote wins in a constitutional referendum next month.
iPhones could be made in America. Apple asked both Foxconn and Pegatron, the two iPhone assemblers, in June to look into making iPhones in the US.
Oil looks likely to be lower for longer. British-based oil producers have started to sell more oil and gas forward to lock in a small uptick in prices, as doubts grow that the market will ever return to the days of crude at $100 a barrel after a two-year rout.
JPMorgan was fined. The bank has agreed to pay $264 million to resolve allegations that it hired the relatives of Chinese officials in order to win banking deals, the US Securities and Exchange Commission said.
Russia is looking towards a Trump presidency. Russia hopes that US President-elect Donald Trump’s new administration will take a new approach to resolving the Syrian crisis, Russian news agencies cited a Russian deputy foreign minister as saying.
There was a march in Greece. Thousands of Greeks vented frustration at their economic lot as they marched in Athens to mark the anniversary of the bloody 1973 student uprising that helped topple the then-military junta.
AOL is cutting staff. Verizon Communications Inc’s AOL digital media company will lay off 5% of its workforce, or about 500 employees, to consolidate operations after recent acquisitions.