Binance has begun restoring withdrawals after a cyberattack that affected $6.3bn in digital assets, with customers withdrawing about $3.6bn during the exchange’s phased reopening. The company says it will cover the losses and has replenished most of the stolen tokens. The FBI attributes the breach to the North Korea-linked TraderTraitor group, while further investigation continues.
Binance says it has replenished about 90% of the $6.3 billion in cryptocurrency stolen in what the FBI described as a North Korean operation. The exchange has frozen roughly $3 billion of assets, set aside more than $6.34 billion to cover customer losses and aims to resume withdrawals, although the investigation remains under way.
US stocks suffered their steepest daily decline since June as investors questioned whether enormous artificial-intelligence investments will generate sufficient profits. The technology-heavy Nasdaq fell more than the S&P 500, while Intel, Nvidia and Amazon declined. Defensive and energy shares were more resilient, and Treasury yields eased as investors sought safer assets.
BP reported quarterly underlying replacement-cost profit of $8.46bn, almost four times the figure from a year earlier and its highest level since 2008. The Guardian attributed the increase mainly to stronger refining margins amid the Middle East war, while campaigners criticised the company for profiting as fuel prices and climate concerns rise.
Binance says it has frozen at least $2.54 billion in cryptocurrency funds and suspended deposits and withdrawals while investigating what it called a potential security issue. The exchange said user assets were safe, while founder Changpeng Zhao said the incident appeared to be a cyber heist; Bitcoin fell about 5 per cent.
The European Union and Canada are using a Montreal summit to advance cooperation on trade, defence, critical minerals, climate, energy and research. Commission President Ursula von der Leyen continues to promote an “associate member” model, while Germany and other EU countries have pushed for less formal wording in the summit declaration.
The UK’s economic outlook has deteriorated as the conflict between the United States and Iran pushes energy prices higher, according to the Office for Budget Responsibility. Although the watchdog raised its growth forecast for this year, it cut next year’s projection, warned of higher inflation and said households—particularly those on lower incomes—face weaker living standards.
Nigeria’s National Credit Guarantee Company says it has supported N64.13 billion in lending to 174,495 borrowers during its first year of operations. The programme, which works through banks and other financial institutions rather than lending directly, has focused heavily on trade, agribusiness and women-led businesses while seeking to widen access to formal credit.
Audi chief executive Gernot Döllner is facing criticism from German labour representatives and politicians after appearing with Donald Trump at a Georgia campaign rally to announce plans for a $4 billion US factory. Audi says the appearance served its commercial interests, while critics argue it breached the company’s political-neutrality rules.
Audi’s plan to invest about $4 billion in a Georgia factory has been defended as a way to expand in the US and reduce tariff exposure, but the announcement has triggered a dispute in Germany over the company’s political neutrality and the future of domestic jobs. The project remains subject to Volkswagen supervisory-board approval.
Audi says it plans to invest about $4bn in a new Georgia assembly plant capable of producing 200,000 SUVs a year and creating roughly 4,500 jobs. The announcement, made alongside Donald Trump at a campaign rally, comes amid US tariffs on European vehicles, falling German employment and uncertainty over final Volkswagen approval.
Meta has agreed to issue chief executive Mark Zuckerberg additional shares and make them easier to sell, after he raised the possibility of leaving California because of a proposed one-time 5% tax on billionaires. The arrangement is designed to preserve his control of the company while helping cover a potential tax bill, even if voters reject the measure.
Airbnb will prevent hosts from requiring guests to strip beds, wash and put away dishes, take rubbish off-site or perform other tasks normally handled by cleaners. The policy applies to reservations made from November 20. Guests must still leave properties reasonably, while hosts can continue to charge cleaning fees and set other house rules.
Elon Musk says Tesla and SpaceX have formed special committees to examine a possible merger, but he stresses that no agreement has been reached. A combination would unite companies valued at roughly $1.5 trillion and $2 trillion respectively, although it would require approval from half of Tesla’s shareholders and could face regulatory and governance scrutiny.