Trump’s (oil) abundance strategy. The U.S. oil boom—along with a global crude glut and low pump prices—are bolstering Trump’s foreign policy ambitions. (Axios)

EU states back record South America trade deal after 25 years. EU states gave a provisional go-ahead on Friday for the bloc to sign its largest ever free trade accord with South American group Mercosur, more than 25 years since talks began and after months of wrangling to secure enough backers. (Reuters)

India pushes back at Trump aide’s claim about US trade deal breakdown. India has pushed back at US Commerce Secretary Howard Lutnick’s claims that the trade deal between the countries stalled because Prime Minister Narendra Modi did not call President Donald Trump. (BBC)

Hiring slows in December to end the weakest year of job growth since the pandemic. U.S. employers added just 50,000 jobs last month, according to a report Friday from the Labor Department. Meanwhile, the unemployment rate dipped to 4.4%, from 4.5% in November, while job gains for October and November were also revised down by a total of 76,000 jobs. (NPR)

Oil gains as market assesses protests in Iran, dealmaking for Venezuela. Oil prices rose on Friday on concerns about potential disruption to Iran’s output and uncertainty about supply from Venezuela. (Reuters)

Canada gains net 8,200 jobs in December, jobless rate rises to 6.8%. Canada’s economy gained a net 8,200 jobs in December, entirely in full-time work and the jobless rate rose to 6.8% as more people looked for work, Statistics Canada data showed on Friday. (Reuters)

Most currencies under pressure from dollar demand. The Ghanaian, Ugandan and Zambian currencies could lose ground against the dollar in the week ahead, while Kenya’s shilling is expected to be little changed, traders said. (CNBC)

German exports fall unexpectedly, industrial production rises. German exports unexpectedly fell while industrial output ticked up in November, official data showed on Friday, highlighting both the challenges Europe’s biggest economy faces globally and moderate improvement at home. (Reuters)

China, Ethiopia pledge closer cooperation in areas from infrastructure to AI. China’s Foreign Minister Wang Yi met with Ethiopian Prime Minister Abiy Ahmed on Thursday and called for greater cooperation with Africa’s fastest growing economy, including in infrastructure, green industry, and the digital economy. (CNBC)

Five supply chain management trends to watch in 2026. Supply chain uncertainty isn’t going anywhere in 2026, but after a year of immense change, particularly in global trade, companies are on firmer footing to face the challenges ahead. (Supply Chain Dive)

Brazil’s annual inflation ends 2025 within target range, rate cuts seen ahead. Brazil’s annual inflation slowed more than the central bank and markets had anticipated, data from statistics agency IBGE showed on Friday, ending 2025 within the official target range at 4.26% and reinforcing expectations for monetary easing ahead. (Reuters)

UN forecasts global economic growth of 2.7% this year, down slightly from 2025. U.N. economists predicted that growth would edge up to 2.9% in 2027. That’s still well below the average 3.2% growth between 2010 and 2019, before the COVID-19 pandemic hurt economies around the globe. The estimate for 2025 is 2.8%. (AP)