World News

Trump has given the go-ahead for a formal handover to begin on Monday, a process that has been delayed several weeks despite Joe Biden emerging as the clear winner in the U.S. election. The General Services Administration told Biden that he could formally begin the transfer process.

Sentiment was also heightened this week by reports that Biden was planning to appoint former Federal Reserve Chairman Janet Yellen as Treasury Secretary, which could greatly shift the focus on efforts to tackle rising economic inequality.

US stocks rallied and the Dow Jones surpassed 30,000 for the first time. Of the 11 major sectors, the S&P 10 rose on economically sensitive stocks such as financials, material and energy companies, while industrial firms hit record highs.

The price of oil continues to rise, for the first time since March the price of WTI has exceeded $ 45, and Brent has exceeded $ 48 per barrel.

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