The World in Brief from The Economist

The Federal Reserve lowered the central bank’s headline interest-rate range by a quarter of a percentage point, to 3.5-3.75%.

Volodymyr Zelensky promised to hold wartime elections within three months if America and Europe “ensure security” for the vote. Also, China’s consumer-price index rose by 0.7% in November, compared with a year earlier, the fastest rate for nearly two years.

Ukraine’s president, Volodymyr Zelensky, said he would present a “refined” peace plan to America “in the near future” following a summit with European leaders in London and a visit to Italy.

Ukraine’s president, Volodymyr Zelensky, said he would present a “refined” peace plan to America “in the near future” following a summit with European leaders in London and a visit to Italy.

European leaders said “now is a critical moment” to support Ukraine, after Sir Keir Starmer hosted Volodymyr Zelensky for talks in London. Also, Thailand evacuated nearly 450,000 people from provinces near its border with Cambodia as fighting between the two sides intensified.

Paramount made a $108bn all-cash offer to buy Warner Bros Discovery in an attempt to thwart Netflix’s bid.

Paramount made a $108bn all-cash offer to buy Warner Bros Discovery in an attempt to thwart Netflix’s bid.

China’s trade surplus in goods exceeded $ 1trillion for the first time. Also, Thailand launched air strikes on “military targets” in Cambodia following border clashes.

Dmitry Peskov, the Kremlin’s spokesman, said that America’s new National Security Strategy was “largely consistent with our vision”.