Rio Tinto is in early talks to buy Glencore, the companies said, in what could create the world's largest mining company with a combined market value of nearly $207 billion. Global miners are racing to bulk up in metals including copper, set to benefit from the energy transition and artificial intelligence demand. That has sparked a wave of project expansions and takeover attempts , including the pending merger of Anglo American and Teck Resources to create a copper-focused

Sterling steadied against the dollar on Friday after falling to the lowest level this year and was set for weekly declines as traders awaited key data to gauge the state of the UK economy. Investors are waiting for clearer indications about the economy, with gross domestic product data due on Thursday and jobs data the week after, which could give more clues to the Bank of England monetary policy trajectory. Learn More

China's annual consumer price inflation accelerated to a 34-month high in December, but the full-year rate slumped to the lowest in 16 years while producer deflation persisted, backing market expectations for more stimulus to shore up soft demand. Imbalances in the $19 trillion economy have worsened over the past year even as growth is on course to meet Beijing's target of "around 5%" for 2025, buoyed by policy support and resilient goods exports. Learn More