Iran is reeling from a cratering economy and stinging military setbacks across its sphere of influence in the Middle East. Its bad times are likely to get worse once President-elect Donald Trump returns to the White House with his policy of "maximum pressure" on Iran.

Facing difficulties at home and abroad, Iran last week began an unusual two-month-long military drill. It includes testing air defenses near a key nuclear facility and preparing for exercises in waterways vital to the global oil trade.

Getting a clear view of the U.S. job market hasn't been easy the past few months.

Hurricanes and a big strike at Boeing threw off the October jobs numbers, pushing them down and setting up a payback rebound in November that likely exaggerated the strength of hiring.

Britain's Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the U.K.'s Labour government seeks to reset strained ties with Beijing.

The Treasury said Friday that Rachel Reeves will travel to Beijing and Shanghai and will meet with her Chinese government counterpart, Vice Premier He Lifeng.

Elon Musk's father says his billionaire son has expressed interest in buying English soccer club Liverpool.

The Premier League club is privately owned by Fenway Sports Group, which has not indicated it wants to sell but has accepted external investment in the past.

China's leaders are bracing for shocks to the economy from higher tariffs threatened by U.S. President-elect Donald Trump once he takes office.

To help rev up an economy bogged down by a property crisis and disruptions during the pandemic, the ruling Communist Party is rolling out a slew of measures to get Chinese consumers and businesses to spend more money and counter a slump in the Chinese currency and stock prices.

The U.S. Defense Department has added dozens of Chinese companies, including games and technology company Tencent, artificial intelligence firm SenseTime and the world's biggest battery maker CATL, to a list of companies it says have ties to China's military, prompting some to protest and say they will seek to have the decision reversed.

In recent years, Washington has sought to restrict sharing of advanced technology, including semiconductors and AI, deeming it to be a threat to national security.

The U.S. has eased some restrictions on Syria's transitional government to allow the entry of humanitarian aid after Islamist insurgents ousted Syrian leader Bashar Assad last month.

The U.S. Treasury issued a general license, lasting six months, that authorizes certain transactions with the Syrian government, including some energy sales and incidental transactions.

European shares fell on Friday after a mixed trading session in Asia, as mainland Chinese markets extended their losses for the first week of the new year.

Germany's DAX shed 0.3% to 19,967.34 and the CAC 40 in Paris lost 0.7% to 7,345.59. Britain's FTSE 100 edged 0.1% lower, to 8,256.98.

Wall Street expects corporate profits to have surged in 2024 and forecasts an even stronger jump for 2025.

Companies still face a long list of uncertainties in the year ahead, including economic policy shifts, reheated inflation and shifts in the jobs market and consumer spending.

Ukraine on Wednesday halted Russian gas supplies to European customers that pass through the country, almost three years into Moscow's all-out invasion of its neighbor, after a prewar transit deal expired.

Ukraine's energy minister, Herman Halushchenko, confirmed on Wednesday morning that Kyiv had stopped the gas flows "in the interest of national security."