US credit card defaults have significantly increased as consumer finances are strained, exacerbated by inflation and leading to the highest delinquency rates in 14 years.

Investor demand has soared, pushing corporate debt sales to a record $8tn as borrowing costs decrease, issuance accelerates, and market participants anticipate further activity.

The Russian military has been accused of shooting down an Azerbaijani passenger aircraft, sparking controversy and tension as Western nations, including the UK and US, challenge Kremlin denials and highlight the incident’s potential breach of international security.

Chancellor Rachel Reeves is set to face significant challenges in the new year as the UK’s economic growth stagnates, with business leaders expressing concerns about declining activity and potential impacts on the Labour party’s agenda.