All the latest world news with thought provoking comments and in-depth analysis from The European Magazine. 

Oil heads for seventh weekly gain as vaccine rollouts support

(Reuters) – Oil steadied near a nine-month high on Friday on track for a seventh weekly gain in a row as investors focused on the rollout of COVID-19 vaccines.
Pfizer has applied for approval in Japan for its vaccine, which is being used in the United Kingdom and the United States. The U.S. FDA is also working towards approving Moderna’s shot.
Brent crude was down 0.2%, at $51.38 at 0925 GMT, near the nine-month high of $51.90 hit on Thursday.

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US energy department confirms it was hit by Sunburst hack

The US energy department is the latest agency to confirm it has been breached in what is being described as the worst-ever hack on the US government.
The department is responsible for managing US nuclear weapons, but said the arsenal’s security had not been compromised.
Tech giant Microsoft also said on Thursday that it had found malicious software in its systems.
The treasury and commerce departments are among the other agencies targeted in the sophisticated, months-long breach.

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Stocks and oil soar, dollar sinks as stimulus beckons

(Reuters) – Stocks scaled record heights, the dollar plumbed two-year lows and oil prices hit their strongest since March on Thursday, as monetary support and the hope of fiscal stimulus in the United States put traders in a festive mood.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% to an all-time high. Japan’s Nikkei rose 0.3% to sit just shy of a 29-year peak.
December S&P 500 futures were one point short of a record top and, after the Nasdaq printed a record close on Wednesday, Nasdaq 100 futures climbed higher into uncharted territory on Thursday. European futures rose.

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