German Chancellor <a href="https://www.wionews.com/world/on-wall-anniversary-merkel-urges-europe-to-defend-democracy-freedom-261009">Angela Merkel's</a> conservatives and the centre-left Social Democrats (SPD) on Sunday broke a deadlock over a higher basic pension for low-income workers, an impasse which had threatened the future of their governing coalition.

Senior coalition members, including Merkel and SPD Finance Minister Olaf Scholz, sealed the compromise deal during talks in the chancellery that lasted more than six hours.

The package also includes lower contributions to the public unemployment insurance scheme and the creation of an investment fund to support local high-tech start-ups.

"Germany will get a (higher) basic pension and this is a socio-political milestone," said SPD interim leader Malu Dreyer, whose party had been pushing for a better deal for lower-income workers.

The coalition between Merkel's CDU/CSU bloc and the SPD has struggled to stay afloat for much of the time since it was formed in March 2018 to end months of political limbo following an inconclusive national election.

The conservatives had agreed to an SPD proposal to introduce a higher basic pension for low-income workers who had been employed for at least 35 years. But some details were left open and talks on finalising terms had stalled for months.

The impasse led some SPD members, worried by the party's falling ratings, to threaten to quit the coalition.

If the partners had failed to reach a deal, SPD members might have decided to vote against staying in the coalition at a party congress on December&nbsp;6-8.

Dreyer estimated that up to 1.5 million people would benefit from the deal through increased pension entitlements.

"Especially women will benefit from this... so this is also a strong signal when it comes to feminist policies," she added.

Annegret Kramp-Karrenbauer, chairwoman of Merkel's Christian Democratic Union (CDU), said the agreement would reduce the risk of old-age poverty while the decision to lower contributions to the public unemployment insurance scheme was meant to give the slowing economy a fiscal stimulus.

The planned investment fund will be worth up to 10 billion euros to support cutting-edge technologies in areas such as digitisation and climate protection, Kramp-Karrenbauer added. It will be run by the state-owned KfW bank.

Markus Soeder, leader of the Christian Social Union (CSU), the Bavarian allies of the CDU, said the coalition parties had shown with their compromise deal that they were able to deliver.

He estimated that the increased basic pension would involve additional costs of up to 1.5 billion euros ($1.65 billion).

The package is likely to be welcomed internationally after the European Commission and the International Monetary Fund have urged Germany for years to use its hefty budget surpluses to stimulate domestic demand through higher wages and pensions.

The German economy shrank by 0.1 per cent&nbsp;in the second quarter on weak exports, and data due on Thursday is expected to show another contraction in the third quarter. This would mean that Europe's largest economy had entered a technical recession.

German Chancellor Angela Merkel's conservatives and the centre-left Social Democrats (SPD) on Sunday broke a deadlock over a higher basic pension for low-income workers, an impasse which had threatened the future of their governing coalition.

German Chancellor Angela Merkel's conservatives and the centre-left Social Democrats (SPD) on Sunday broke a deadlock over a higher basic pension for low-income workers, an impasse which had threatened the future of their governing coalition. Senior coalition members, including Merkel and SPD Finance Minister Olaf Scholz, sealed the compromise deal during talks in the chancellery that lasted more than six hours. The package also includes lower contributions to the public unemployment insurance scheme and the creation of an investment fund to support local high-tech start-ups. "Germany will get a (higher) basic pension and this is a socio-political milestone," said SPD interim leader Malu Dreyer, whose party had been pushing for a better deal for lower-income workers. The coalition between Merkel's CDU/CSU bloc and the SPD has struggled to stay afloat for much of the time since it was formed in March 2018 to end months of political limbo following an inconclusive national election. The conservatives had agreed to an SPD proposal to introduce a higher basic pension for low-income workers who had been employed for at least 35 years. But some details were left open and talks on finalising terms had stalled for months. The impasse led some SPD members, worried by the party's falling ratings, to threaten to quit the coalition. If the partners had failed to reach a deal, SPD members might have decided to vote against staying in the coalition at a party congress on December 6-8. Dreyer estimated that up to 1.5 million people would benefit from the deal through increased pension entitlements. "Especially women will benefit from this... so this is also a strong signal when it comes to feminist policies," she added. Annegret Kramp-Karrenbauer, chairwoman of Merkel's Christian Democratic Union (CDU), said the agreement would reduce the risk of old-age poverty while the decision to lower contributions to the public unemployment insurance scheme was meant to give the slowing economy a fiscal stimulus. The planned investment fund will be worth up to 10 billion euros to support cutting-edge technologies in areas such as digitisation and climate protection, Kramp-Karrenbauer added. It will be run by the state-owned KfW bank. Markus Soeder, leader of the Christian Social Union (CSU), the Bavarian allies of the CDU, said the coalition parties had shown with their compromise deal that they were able to deliver. He estimated that the increased basic pension would involve additional costs of up to 1.5 billion euros ($1.65 billion). The package is likely to be welcomed internationally after the European Commission and the International Monetary Fund have urged Germany for years to use its hefty budget surpluses to stimulate domestic demand through higher wages and pensions. The German economy shrank by 0.1 per cent in the second quarter on weak exports, and data due on Thursday is expected to show another contraction in the third quarter. This would mean that Europe's largest economy had entered a technical recession.

Merkel's conservatives, SPD avert crisis with German pension deal

The South Korean Army has banned the use and possession of <a href="https://www.wionews.com/world/chinese-government-bodies-call-for-prohibition-on-vaping-in-public-260543">liquid e-cigarettes</a> on its bases for health reasons, the military said on Monday, following a government warning for people to stop using the devices.

South Korea has a large military of nearly 600,000 soldiers, primarily conscripted men, and the Army makes up the largest portion with 464,000. While the rate is declining, South Korean men are among the heaviest smokers in the world.

The Health Ministry issued an advisory last month urging people to stop using liquid e-cigarettes citing cases of lung injuries in the United States including fatalities.

The ministry said it would conduct studies to determine whether there was a scientific basis to ban the sales of liquid e-cigarettes, which vaporise&nbsp;liquid containing nicotine.

A pneumonia case of a 30-year old South Korean e-cigarette user was reported last month, according to the ministry.

A day after the government warning, a major convenience store chain GS25 suspended the sale of flavoured liquid e-cigarettes made by US&nbsp;company <a href="https://www.wionews.com/business-economy/special-report-juul-disregarded-early-evidence-it-was-hooking-teens-260137">Juul Labs</a> and South Korean company KT&amp;G.

E-cigarettes have been gaining popularity in the country's $16 billion tobacco market since 2017, accounting for 13 per cent&nbsp;of the tobacco market by sales as of June, government data show

The South Korean Army has banned the use and possession of liquid e-cigarettes on its bases for health reasons, the military said on Monday, following a government warning for people to stop using the devices.

The South Korean Army has banned the use and possession of liquid e-cigarettes on its bases for health reasons, the military said on Monday, following a government warning for people to stop using the devices. South Korea has a large military of nearly 600,000 soldiers, primarily conscripted men, and the Army makes up the largest portion with 464,000. While the rate is declining, South Korean men are among the heaviest smokers in the world. The Health Ministry issued an advisory last month urging people to stop using liquid e-cigarettes citing cases of lung injuries in the United States including fatalities. The ministry said it would conduct studies to determine whether there was a scientific basis to ban the sales of liquid e-cigarettes, which vaporise liquid containing nicotine. A pneumonia case of a 30-year old South Korean e-cigarette user was reported last month, according to the ministry. A day after the government warning, a major convenience store chain GS25 suspended the sale of flavoured liquid e-cigarettes made by US company Juul Labs and South Korean company KT&G. E-cigarettes have been gaining popularity in the country's $16 billion tobacco market since 2017, accounting for 13 per cent of the tobacco market by sales as of June, government data show

South Korea bans liquid e-cigarettes on army bases

Authorities in Australia's Queensland and New South Wales states declared a state of emergency on Monday as the country's eastern region prepared for "catastrophic" fire conditions.

People in areas deemed at the greatest risk were urged to evacuate before forecast unprecedented hot and windy conditions on Tuesday, which officials fear will fan fires already burning.

Three people were killed and more than <a href="https://www.wionews.com/videos/australia-bushfires-over-150-houses-burned-down-at-least-3-dead-261253">150 homes were destroyed</a> over the weekend by bushfires in northern New South Wales (NSW) and Queensland.

Lawmakers said the state of emergency - giving firefighters broad powers to control government resources, force evacuations, close roads and shut down utilities - would remain in place for seven days.

<a href="https://www.wionews.com/world/australians-warned-worst-bushfires-may-be-yet-to-come-261097">Bushfires</a> are a common and deadly threat in Australia’s hot, dry summers but the current severe outbreak, well before the summer peak, has caught many by surprise.

"Everybody has to be on alert no matter where you are and everybody has to be assume the worst and we cannot allow complacency to creep in," NSW Premier Gladys Berejiklian told reporters in Sydney.

Australia's most populous city avoided the worst of the weekend conditions, but authorities have raised the forecast for greater Sydney region to catastrophic fire danger for Tuesday. It is the first time the city has been rated at that level since new fire danger ratings were introduced in 2009.

Temperatures in greater Sydney are set to soar on Tuesday to more than 34 degrees Celsius, with strong, dry winds.

"Tomorrow is about protecting life, protecting property and ensuring everybody is safe as possible," Berejiklian said.

Home to more than 5 million people, Sydney is ringed by large areas of bushland, much of which remains tinder dry following little rain across the country's east coast in recent months.

NSW Rural Fire Service (RFS) Commissioner Shane Fitzsimmons urged people to evacuate before conditions worsened, warning that new fires can begin up to 20km&nbsp;ahead of established fires.

"Relocate while things are calm without the pressure or

anxiety of fires bearing down the back door," he said on Monday.

Authorities stressed that even fireproofed homes will not be able to withstand catastrophic conditions, which Fitzsimmons described as "when lives are lost, it's where people die".

Fitzsimmons said an additional 400 firefighters on 50 trucks are heading to NSW from the neighbouring state of Victoria to assist local authorities in tackling the 18 fires across the state, two of which are deemed out of control by authorities.

In February 2009, Australia's worst bushfires on record destroyed thousands of homes in Victoria, killing 173 people and injuring 414 on a day the media dubbed "Black Saturday".

The current fires, however, come weeks ahead of the Southern hemisphere summer, sharpening attention on the policies of Australia's conservative government to address climate change.

Environmental activists and opposition lawmakers have used the fires to call on Prime Minister Scott Morrison, a supporter of the coal industry, to strengthen the country's emissions targets.

Morrison declined to answer questions about whether the fires were linked to climate change as he visited fire-hit areas in the north of NSW over the weekend.

Deputy Prime Minister Michael McCormack on Monday accused climate activists of politicising a tragedy.

"What we are doing is taking real and meaningful action to reduce global emissions without shutting down all our industries," McCormack told Australian Broadcasting Corp radio.

"They don't need the ravings of some pure, enlightened and woke capital city greenies at this time, when they're trying to save their homes, when in fact they're going out in many cases saving other peoples' homes and leaving their own homes at risk."

Authorities in Australia's Queensland and New South Wales states declared a state of emergency on Monday as the country's eastern region prepared for "catastrophic" fire conditions.

Authorities in Australia's Queensland and New South Wales states declared a state of emergency on Monday as the country's eastern region prepared for "catastrophic" fire conditions. People in areas deemed at the greatest risk were urged to evacuate before forecast unprecedented hot and windy conditions on Tuesday, which officials fear will fan fires already burning. Three people were killed and more than 150 homes were destroyed over the weekend by bushfires in northern New South Wales (NSW) and Queensland. Lawmakers said the state of emergency - giving firefighters broad powers to control government resources, force evacuations, close roads and shut down utilities - would remain in place for seven days. Bushfires are a common and deadly threat in Australia’s hot, dry summers but the current severe outbreak, well before the summer peak, has caught many by surprise. "Everybody has to be on alert no matter where you are and everybody has to be assume the worst and we cannot allow complacency to creep in," NSW Premier Gladys Berejiklian told reporters in Sydney. Australia's most populous city avoided the worst of the weekend conditions, but authorities have raised the forecast for greater Sydney region to catastrophic fire danger for Tuesday. It is the first time the city has been rated at that level since new fire danger ratings were introduced in 2009. Temperatures in greater Sydney are set to soar on Tuesday to more than 34 degrees Celsius, with strong, dry winds. "Tomorrow is about protecting life, protecting property and ensuring everybody is safe as possible," Berejiklian said. Home to more than 5 million people, Sydney is ringed by large areas of bushland, much of which remains tinder dry following little rain across the country's east coast in recent months. NSW Rural Fire Service (RFS) Commissioner Shane Fitzsimmons urged people to evacuate before conditions worsened, warning that new fires can begin up to 20km ahead of established fires. "Relocate while things are calm without the pressure or anxiety of fires bearing down the back door," he said on Monday. Authorities stressed that even fireproofed homes will not be able to withstand catastrophic conditions, which Fitzsimmons described as "when lives are lost, it's where people die". Fitzsimmons said an additional 400 firefighters on 50 trucks are heading to NSW from the neighbouring state of Victoria to assist local authorities in tackling the 18 fires across the state, two of which are deemed out of control by authorities. In February 2009, Australia's worst bushfires on record destroyed thousands of homes in Victoria, killing 173 people and injuring 414 on a day the media dubbed "Black Saturday". The current fires, however, come weeks ahead of the Southern hemisphere summer, sharpening attention on the policies of Australia's conservative government to address climate change. Environmental activists and opposition lawmakers have used the fires to call on Prime Minister Scott Morrison, a supporter of the coal industry, to strengthen the country's emissions targets. Morrison declined to answer questions about whether the fires were linked to climate change as he visited fire-hit areas in the north of NSW over the weekend. Deputy Prime Minister Michael McCormack on Monday accused climate activists of politicising a tragedy. "What we are doing is taking real and meaningful action to reduce global emissions without shutting down all our industries," McCormack told Australian Broadcasting Corp radio. "They don't need the ravings of some pure, enlightened and woke capital city greenies at this time, when they're trying to save their homes, when in fact they're going out in many cases saving other peoples' homes and leaving their own homes at risk."

Australian authorities in Queensland, New South Wales urge evacuations ahead of 'catastrophic' fire threat

The United States is very upset about Turkey's purchase of Russian missile defence systems and could impose sanctions on Ankara if it does not "get rid" of them, White House National Security Adviser Robert O'Brien said on Sunday.

"Turkey will feel the impact of those sanctions," O'Brien told CBS's "Face the Nation" in an interview, referring to penalties under the US&nbsp;law known as the Countering America's Adversaries Through Sanctions Act, which he said would pass Congress with "overwhelming" bipartisan support.

His comments came ahead of a visit by Turkish President Tayyip <a href="https://www.wionews.com/world/turkeys-erdogan-speaks-with-trump-to-visit-washington-next-week-260443">Erdogan to Washington</a> on November&nbsp;13 to meet US&nbsp;President Donald Trump for likely crucial talks as the two NATO allies have been at loggerheads over a range of issues.

One key disagreement is Ankara's purchase of the Russian S-400 anti-aircraft missile system, which Washington says is incompatible with NATO defences and threatens its Lockheed Martin&nbsp;F-35 fighter jets.

Despite threats of US&nbsp;sanctions, Turkey started receiving its first S-400 deliveries in July.

In response, Washington removed Turkey from the F-35 programme, in which Ankara was a manufacturer and buyer. But so far, it has not slapped any sanctions on Ankara.

Turkey has not yet activated the S-400 batteries it received, and Washington still hopes to persuade its ally to "walk away" from the Russian systems.

"There's no place in NATO for the S-400. There's no place in NATO for significant Russian military purchases. That's a message that the president will deliver to him (Erdogan) very clearly when he's here," O'Brien said.

Earlier this month, the head of Turkey's Defence Industry Directorate said a second S-400 delivery to Turkey may be delayed beyond a planned 2020 timeline by talks on technology sharing and joint production.

The S-400 issue is part of a wider range of disagreements between Turkey and the United States.

Washington was incensed by <a href="https://www.wionews.com/world/eight-killed-in-bombing-in-turkish-controlled-northeast-syria-261218">Turkey's offensive</a> into northern Syria against US-allied Kurdish YPG fighters last month. Turkey halted the incursion after the Kurds withdrew from a border region under a US- brokered truce.

The United States is very upset about Turkey's purchase of Russian missile defence systems and could impose sanctions on Ankara if it does not "get rid" of them, White House National Security Adviser Robert O'Brien said on Sunday.

The United States is very upset about Turkey's purchase of Russian missile defence systems and could impose sanctions on Ankara if it does not "get rid" of them, White House National Security Adviser Robert O'Brien said on Sunday. "Turkey will feel the impact of those sanctions," O'Brien told CBS's "Face the Nation" in an interview, referring to penalties under the US law known as the Countering America's Adversaries Through Sanctions Act, which he said would pass Congress with "overwhelming" bipartisan support. His comments came ahead of a visit by Turkish President Tayyip Erdogan to Washington on November 13 to meet US President Donald Trump for likely crucial talks as the two NATO allies have been at loggerheads over a range of issues. One key disagreement is Ankara's purchase of the Russian S-400 anti-aircraft missile system, which Washington says is incompatible with NATO defences and threatens its Lockheed Martin F-35 fighter jets. Despite threats of US sanctions, Turkey started receiving its first S-400 deliveries in July. In response, Washington removed Turkey from the F-35 programme, in which Ankara was a manufacturer and buyer. But so far, it has not slapped any sanctions on Ankara. Turkey has not yet activated the S-400 batteries it received, and Washington still hopes to persuade its ally to "walk away" from the Russian systems. "There's no place in NATO for the S-400. There's no place in NATO for significant Russian military purchases. That's a message that the president will deliver to him (Erdogan) very clearly when he's here," O'Brien said. Earlier this month, the head of Turkey's Defence Industry Directorate said a second S-400 delivery to Turkey may be delayed beyond a planned 2020 timeline by talks on technology sharing and joint production. The S-400 issue is part of a wider range of disagreements between Turkey and the United States. Washington was incensed by Turkey's offensive into northern Syria against US-allied Kurdish YPG fighters last month. Turkey halted the incursion after the Kurds withdrew from a border region under a US- brokered truce.

Turkey will feel impact of sanctions over Russian S-400 missile deal, warns US

Timeline: China's military drones make it a mobile warfare specialist

Russia's sports minister insisted Thursday that data handed to the World Anti-Doping Agency was not doctored, while <a href="https://www.wionews.com/sports/wada-was-not-equipped-to-handle-size-of-russian-doping-scandal-reedie-260238">WADA</a> has asked Moscow to explain "inconsistencies."

"Nothing was removed there, our experts insist this didn't happen," sports minister Pavel Kolobkov said, Interfax news agency reported.

The electronic data handed to WADA investigators early this year came from RUSADA's former Moscow anti-doping laboratory. in September, WADA asked <a href="https://www.wionews.com/sports/wadas-russian-investigation-enters-new-phase-219322">Russia</a> to respond to "inconsistencies" in the data.

"These are technical questions, they are linked to the system," Kolobkov insisted, according to TASS news agency.&nbsp;

"At a meeting shortly between specialists from Russia and WADA these questions may be cleared up.

"We are doing all we can to fulfil the obligations that we committed to last September and we fulfilled them," Kolobkov added.

He said the current controversy had nothing to do with athletes preparing for the 2020 Tokyo Olympics.

"Such questions only make our athletes, trainers and federations nervous," he said.

The current head of Russia's anti-doping laboratory, Yuri Ganus, has denied that his team had any involvement in falsifying data but has said that he believes there was manipulation.

In an interview with AFP last month, Ganus said he expected Russia to be banned from the <a href="https://www.wionews.com/sports/tokyo-olympics-2020-medals-unveiled-a-year-before-games-238165">Tokyo Olympics</a> and the 2022 Beijing Winter Olympics over the doctored data.

He blamed unnamed Russian officials for manipulating the data handed over to WADA.

Kolobkov denied those claims, saying: "There was not any manipulation as the head of Russia's anti-doping laboratory, Yuri Ganus, has said. That's our position."

He said Russia had already selected more than 100 athletes to take part in the Tokyo Olympics next year and he expected a final total of around 400 to take part.

"We can expect good results from the Olympics," he said.

WADA is currently holding its world conference in the Polish city of Katowice and the scandal over Russian state-backed doping and institutionalised cheating has dominated the proceedings.

Speaking at the conference on Wednesday, Ganus blasted the "irresponsible and destructive actions" of Russian authorities and blamed the falsification of the data from the laboratory on "forces outside RUSADA."

Russia's sports minister insisted Thursday that data handed to the World Anti-Doping Agency was not doctored, while WADA has asked Moscow to explain "inconsistencies.

Russia's sports minister insisted Thursday that data handed to the World Anti-Doping Agency was not doctored, while WADA has asked Moscow to explain "inconsistencies." "Nothing was removed there, our experts insist this didn't happen," sports minister Pavel Kolobkov said, Interfax news agency reported. The electronic data handed to WADA investigators early this year came from RUSADA's former Moscow anti-doping laboratory. in September, WADA asked Russia to respond to "inconsistencies" in the data. "These are technical questions, they are linked to the system," Kolobkov insisted, according to TASS news agency. "At a meeting shortly between specialists from Russia and WADA these questions may be cleared up. "We are doing all we can to fulfil the obligations that we committed to last September and we fulfilled them," Kolobkov added. He said the current controversy had nothing to do with athletes preparing for the 2020 Tokyo Olympics. "Such questions only make our athletes, trainers and federations nervous," he said. The current head of Russia's anti-doping laboratory, Yuri Ganus, has denied that his team had any involvement in falsifying data but has said that he believes there was manipulation. In an interview with AFP last month, Ganus said he expected Russia to be banned from the Tokyo Olympics and the 2022 Beijing Winter Olympics over the doctored data. He blamed unnamed Russian officials for manipulating the data handed over to WADA. Kolobkov denied those claims, saying: "There was not any manipulation as the head of Russia's anti-doping laboratory, Yuri Ganus, has said. That's our position." He said Russia had already selected more than 100 athletes to take part in the Tokyo Olympics next year and he expected a final total of around 400 to take part. "We can expect good results from the Olympics," he said. WADA is currently holding its world conference in the Polish city of Katowice and the scandal over Russian state-backed doping and institutionalised cheating has dominated the proceedings. Speaking at the conference on Wednesday, Ganus blasted the "irresponsible and destructive actions" of Russian authorities and blamed the falsification of the data from the laboratory on "forces outside RUSADA."

Russian sports minister denies doping data was falsified

Europe's share markets hit a more than 4-year peak and bond yields shuffled higher on Thursday, as Beijing signalled a 'phase 1' <a href="http://13.235.153.162/world/china-says-it-has-agreed-with-united-states-to-cancel-tariffs-in-phases-260538">trade deal</a> with the United States was close to being sealed.

Asia had been quiet overnight but things sparked just before Europe opened when China's commerce ministry said the world's two economic giants were working on a deal that would roll back trade tariffs in different stages.

Cue optimism. The pan-European STOXX 600 index&nbsp;rose 0.4 percent&nbsp;to its highest since July 2015 led by the export-heavy DAX&nbsp;percent&nbsp;in Frankfurt despite worse-than-expected German industrial output data.

European government bond yields -- which move inverse to the price -- rose too. Benchmark Bund yields were heading towards their highest in more than three months while the dollar took background from the safe-haven yen in the currency markets.

"Everything is moving together for now on this trade deal news," said Saxo Bank's head of FX strategy John Hardy. "The question is, how much was already baked into the cake and can we really see more specifics?" he added.

Among the top gainers across European sub-sectors were automakers&nbsp;and miners,&nbsp;while defensive plays such as telecoms and utilities fell, which all pointed to higher risk appetite.

E-Mini futures for the S&amp;P 500, which has already set a new record high this week, were also a solid 0.5&nbsp;percent&nbsp;better off.

Asia, in contrast, had barely budged. MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;dipped a slight 0.2 percent, just off a six-month high hit earlier in the week.

Japan's Nikkei dithered either side of flat in very quiet trade, having touched a 13-month top on Wednesday. South Korean stocks&nbsp;stalled after hitting their highest since May, while Shanghai blue chips&nbsp;eked out a 0.2&nbsp;percent&nbsp;rise.

Reuters reported on Wednesday that a meeting between US&nbsp;President Donald Trump and Chinese President Xi Jinping to sign the interim trade deal could be delayed until December as discussions continue over terms and venue.

Among various suggestions was to sign a deal after a scheduled NATO meeting in London in early December.

"One could take the view that by not committing to meet the original deadline it gives more time for a somewhat more comprehensive agreement to be thrashed out," said Ray Attrill, head of FX strategy at National Australia Bank.

The overnight pause in the risk rally helped US&nbsp;bonds recoup a little of their recent losses. Yields on benchmark US&nbsp;10-year notes fell back to 1.84&nbsp;percent&nbsp;from a two-month top of 1.87 percent&nbsp;.

That kept the dollar in check, it was at 109.00 yen&nbsp;from a weekly high of 109.24 and was a smidgen lower on a basket of currencies at 97.965.

The euro was trying to sustain a bounce at $1.1079 previously close to chart support at $1.1060.

Spot gold was little changed at $1,490.38 per ounce and well within recent tight trading ranges.

Oil prices clawed higher after taking a hit from a surprisingly large build in US&nbsp;crude inventories.

US&nbsp;crude&nbsp;was 57 cents higher at $56.92 a barrel, while Brent crude made 5&nbsp;cents to $62.23.

Europe's share markets hit a more than 4-year peak and bond yields shuffled higher on Thursday, as Beijing signalled a 'phase 1' trade deal with the United States was close to being sealed.

Europe's share markets hit a more than 4-year peak and bond yields shuffled higher on Thursday, as Beijing signalled a 'phase 1' trade deal with the United States was close to being sealed. Asia had been quiet overnight but things sparked just before Europe opened when China's commerce ministry said the world's two economic giants were working on a deal that would roll back trade tariffs in different stages. Cue optimism. The pan-European STOXX 600 index rose 0.4 percent to its highest since July 2015 led by the export-heavy DAX percent in Frankfurt despite worse-than-expected German industrial output data. European government bond yields -- which move inverse to the price -- rose too. Benchmark Bund yields were heading towards their highest in more than three months while the dollar took background from the safe-haven yen in the currency markets. "Everything is moving together for now on this trade deal news," said Saxo Bank's head of FX strategy John Hardy. "The question is, how much was already baked into the cake and can we really see more specifics?" he added. Among the top gainers across European sub-sectors were automakers and miners, while defensive plays such as telecoms and utilities fell, which all pointed to higher risk appetite. E-Mini futures for the S&P 500, which has already set a new record high this week, were also a solid 0.5 percent better off. Asia, in contrast, had barely budged. MSCI's broadest index of Asia-Pacific shares outside Japan dipped a slight 0.2 percent, just off a six-month high hit earlier in the week. Japan's Nikkei dithered either side of flat in very quiet trade, having touched a 13-month top on Wednesday. South Korean stocks stalled after hitting their highest since May, while Shanghai blue chips eked out a 0.2 percent rise. Reuters reported on Wednesday that a meeting between US President Donald Trump and Chinese President Xi Jinping to sign the interim trade deal could be delayed until December as discussions continue over terms and venue. Among various suggestions was to sign a deal after a scheduled NATO meeting in London in early December. "One could take the view that by not committing to meet the original deadline it gives more time for a somewhat more comprehensive agreement to be thrashed out," said Ray Attrill, head of FX strategy at National Australia Bank. The overnight pause in the risk rally helped US bonds recoup a little of their recent losses. Yields on benchmark US 10-year notes fell back to 1.84 percent from a two-month top of 1.87 percent . That kept the dollar in check, it was at 109.00 yen from a weekly high of 109.24 and was a smidgen lower on a basket of currencies at 97.965. The euro was trying to sustain a bounce at $1.1079 previously close to chart support at $1.1060. Spot gold was little changed at $1,490.38 per ounce and well within recent tight trading ranges. Oil prices clawed higher after taking a hit from a surprisingly large build in US crude inventories. US crude was 57 cents higher at $56.92 a barrel, while Brent crude made 5 cents to $62.23.

US-China trade deal hopes restart stocks rally

Lufthansa on Thursday said it was slashing 700 to 800 jobs at its Austrian Airlines subsidiary, more than a tenth of the workforce there, to cut costs in the face of "brutal competition" from rival carriers.

Lufthansa CEO Carsten Spohr said the cull would help Austrian Airlines, which could end the year in the red, achieve "savings of 90 million euros&nbsp;per year" from the end of 2021.

The small carrier was locked "in the mother of all battles" in Vienna with low-cost rivals Ryanair and Wizz Air, Spohr told reporters in a conference call after announcing a rise in the group's third-quarter revenues.

News of the jobs cull sent shares in Lufthansa soaring by 8.8 percent to 17.6 euros by 1140 GMT, putting it at the top of the blue-chip DAX index in Frankfurt.

"We have to reposition ourselves to be able to survive in the brutal competition with budget carriers," Austrian Airlines boss Alexis von Hoensbroech said in a separate statement.

The planned job cuts amount to a loss of 700 to 800 full-time jobs by the end of 2021, out of a total workforce of 7,000 people, the statement added.&nbsp;

Most of the <a href="http://13.235.153.162/world/lufthansa-cabin-crew-union-stages-all-day-strike-at-smaller-airlines-257094">job losses</a> will come from not replacing departing workers.

The Lufthansa group -- which also includes Eurowings, Brussels and Swiss airlines -- earlier on Thursday said it was on track to meet its full-year outlook despite a "challenging market environment".

The carrier booked a net profit of 1.15 billion euros&nbsp; between July and September, up four percent year-on-year.

But the jump was mainly thanks to accounting effects, with the group's operating profit adjusted for some one-off items, actually falling eight percent to 1.3 billion euros.

Lufthansa said it had faced higher than expected fuel costs that were only partially offset by cost-cutting efforts.

And like rival airlines it was grappling with "a general slowdown in the global economy", it said in a statement.

Revenues for the period were up two percent to 10.2 billion euros.

Lufthansa's chief financial officer Ulrik Svensson said it was "vital" that the group took action "to further reduce our costs".

Aside from the job losses at Austrian Airlines, the group is hoping that a renewed focus on the Vienna hub and aircraft replacements will further trim costs at the struggling subsidiary.

Looking ahead, Lufthansa said it was on track to meet its 2019 goals.

It continues to expect adjusted earnings before tax and interest of 2.0-2.4 billon euros while revenues are predicted "to rise by a single-digit percentage amount".

But it lowered its earnings outlook for Lufthansa Cargo, blaming "current weak market demand".

The group's total fuel costs for the year are expected to reach 6.8 billion euros, 650 million euros more than in 2018.

Thursday's announcements came as Lufthansa faced a major strike by German cabin crew on Thursday, the first of a two-day walkout that has led to 1,300 flight cancellations.

Lufthansa on Thursday said it was slashing 700 to 800 jobs at its Austrian Airlines subsidiary, more than a tenth of the workforce there, to cut costs in the face of "brutal competition" from rival carriers.

Lufthansa on Thursday said it was slashing 700 to 800 jobs at its Austrian Airlines subsidiary, more than a tenth of the workforce there, to cut costs in the face of "brutal competition" from rival carriers. Lufthansa CEO Carsten Spohr said the cull would help Austrian Airlines, which could end the year in the red, achieve "savings of 90 million euros per year" from the end of 2021. The small carrier was locked "in the mother of all battles" in Vienna with low-cost rivals Ryanair and Wizz Air, Spohr told reporters in a conference call after announcing a rise in the group's third-quarter revenues. News of the jobs cull sent shares in Lufthansa soaring by 8.8 percent to 17.6 euros by 1140 GMT, putting it at the top of the blue-chip DAX index in Frankfurt. "We have to reposition ourselves to be able to survive in the brutal competition with budget carriers," Austrian Airlines boss Alexis von Hoensbroech said in a separate statement. The planned job cuts amount to a loss of 700 to 800 full-time jobs by the end of 2021, out of a total workforce of 7,000 people, the statement added. Most of the job losses will come from not replacing departing workers. The Lufthansa group -- which also includes Eurowings, Brussels and Swiss airlines -- earlier on Thursday said it was on track to meet its full-year outlook despite a "challenging market environment". The carrier booked a net profit of 1.15 billion euros between July and September, up four percent year-on-year. But the jump was mainly thanks to accounting effects, with the group's operating profit adjusted for some one-off items, actually falling eight percent to 1.3 billion euros. Lufthansa said it had faced higher than expected fuel costs that were only partially offset by cost-cutting efforts. And like rival airlines it was grappling with "a general slowdown in the global economy", it said in a statement. Revenues for the period were up two percent to 10.2 billion euros. Lufthansa's chief financial officer Ulrik Svensson said it was "vital" that the group took action "to further reduce our costs". Aside from the job losses at Austrian Airlines, the group is hoping that a renewed focus on the Vienna hub and aircraft replacements will further trim costs at the struggling subsidiary. Looking ahead, Lufthansa said it was on track to meet its 2019 goals. It continues to expect adjusted earnings before tax and interest of 2.0-2.4 billon euros while revenues are predicted "to rise by a single-digit percentage amount". But it lowered its earnings outlook for Lufthansa Cargo, blaming "current weak market demand". The group's total fuel costs for the year are expected to reach 6.8 billion euros, 650 million euros more than in 2018. Thursday's announcements came as Lufthansa faced a major strike by German cabin crew on Thursday, the first of a two-day walkout that has led to 1,300 flight cancellations.

Austrian Airlines to slash jobs over 'brutal competition'

Turkish police arrested 17 foreigners on Thursday suspected of ties to the <a href="https://www.wionews.com/world/relatives-of-islamic-state-fighters-returning-home-could-commit-terror-attacks-russia-260579">Islamic State group</a>, state news agency Anadolu reported.&nbsp;

The 17, whose nationalities were not given, were arrested in Ankara and taken for interrogation by counter-terrorism officers, Anadolu said.

Turkey has highlighted its efforts to crack down on the Islamic State group (IS) following the assassination of its leader Abu Bakr al-Baghdadi by the United States last week.&nbsp;

Turkish officials said they arrested Baghdadi's sister this week and announced they had been holding his wife since last year.

President Recep Tayyip Erdogan said Thursday that members of Baghdadi's entourage were seeking to enter Turkey and that several -- "close to double figures" -- had been arrested.

In the early years of the Syrian conflict when Turkey was keen to see the overthrow of President Bashar al-Assad, it was accused of failing to prevent the passage of jihadists over its border.&nbsp;

That changed following a series of IS attacks within Turkey, and Ankara joined the US-led anti-IS coalition in 2015.&nbsp;

It has again been accused of undermining the battle against IS in recent weeks with its military offensive against Kurdish forces in northern Syria, who have been the key ground force against IS and were crucial to locating Baghdadi.

Turkish police arrested 17 foreigners on Thursday suspected of ties to the Islamic State group, state news agency Anadolu reported. The 17, whose nationalities were not given, were arrested in Ankara and taken for interrogation by counter-terrorism officers, Anadolu said.

Turkish police arrested 17 foreigners on Thursday suspected of ties to the Islamic State group, state news agency Anadolu reported. The 17, whose nationalities were not given, were arrested in Ankara and taken for interrogation by counter-terrorism officers, Anadolu said. Turkey has highlighted its efforts to crack down on the Islamic State group (IS) following the assassination of its leader Abu Bakr al-Baghdadi by the United States last week. Turkish officials said they arrested Baghdadi's sister this week and announced they had been holding his wife since last year. President Recep Tayyip Erdogan said Thursday that members of Baghdadi's entourage were seeking to enter Turkey and that several -- "close to double figures" -- had been arrested. In the early years of the Syrian conflict when Turkey was keen to see the overthrow of President Bashar al-Assad, it was accused of failing to prevent the passage of jihadists over its border. That changed following a series of IS attacks within Turkey, and Ankara joined the US-led anti-IS coalition in 2015. It has again been accused of undermining the battle against IS in recent weeks with its military offensive against Kurdish forces in northern Syria, who have been the key ground force against IS and were crucial to locating Baghdadi.

Turkey arrests 17 on suspected Islamic State links

German Chancellor Angela Merkel on Thursday rejected French President Emmanuel <a href="https://www.wionews.com/world/french-president-says-nato-experiencing-brain-death-260582">Macron's view that NATO</a> was experiencing "brain death", saying that such comments were not necessary.

Macron "used drastic words, that is not my view of cooperation in NATO," said Merkel after talks with visiting chief of the translantic defence alliance Jens Stoltenberg.

"I don't think that such sweeping judgements are necessary, even if we have problems and need to pull together," she added.

Stoltenberg meanwhile stressed that "NATO is strong", adding that the United States and Europe "work together more than we have done for decades".

Macron's explosive comments came ahead of a NATO summit in Britain next month.

"You have no coordination whatsoever of strategic decision-making between the United States and its NATO allies. None," charged the French president.

NATO has already been hit by Turkey's latest military operation against Kurdish militia in northern Syria -- which was staunchly opposed by fellow members like France -- and President Donald Trump's lack of enthusiasm for the organisation.

"We should reassess the reality of what NATO is in the light of the commitment of the United States," he warned, adding that "In my opinion, Europe has the capacity to defend itself."

Macron argued that Europe could do this if "it accelerates the development of European defence."

German Chancellor Angela Merkel on Thursday rejected French President Emmanuel Macron's view that NATO was experiencing "brain death", saying that such comments were not necessary.

German Chancellor Angela Merkel on Thursday rejected French President Emmanuel Macron's view that NATO was experiencing "brain death", saying that such comments were not necessary. Macron "used drastic words, that is not my view of cooperation in NATO," said Merkel after talks with visiting chief of the translantic defence alliance Jens Stoltenberg. "I don't think that such sweeping judgements are necessary, even if we have problems and need to pull together," she added. Stoltenberg meanwhile stressed that "NATO is strong", adding that the United States and Europe "work together more than we have done for decades". Macron's explosive comments came ahead of a NATO summit in Britain next month. "You have no coordination whatsoever of strategic decision-making between the United States and its NATO allies. None," charged the French president. NATO has already been hit by Turkey's latest military operation against Kurdish militia in northern Syria -- which was staunchly opposed by fellow members like France -- and President Donald Trump's lack of enthusiasm for the organisation. "We should reassess the reality of what NATO is in the light of the commitment of the United States," he warned, adding that "In my opinion, Europe has the capacity to defend itself." Macron argued that Europe could do this if "it accelerates the development of European defence."

Don't think sweeping judgements are necessary: Merkel on Macron's NATO 'brain death' jibe

Turkish President <a href="https://www.wionews.com/world/tayyip-erdogan-says-united-states-not-fulfilling-syria-deal-ahead-of-doanld-trump-talks-260531">Recep Tayyip Erdogan</a> on Thursday repeated his threat to "open the gates" for migrants to enter Europe unless more international support was provided, during a visit to Hungary on Thursday.&nbsp;

"Whether or not support comes, we will continue to host our guests, but only up to a point," Erdogan said at a news conference alongside Hungarian Prime Minister Viktor Orban.

"If we see that this does not work, just like I said before, we will have no option left but to open the gates. If we open the gates, it is obvious where they will go," Erdogan added.

Erdogan has called on EU countries to provide more financial support for his plan to create a "safe zone" in Syria where refugees can be repatriated.

Orban has been one of Europe's most outspoken opponents of accepting refugees and migrants, particularly from Muslim countries, and has backed Erdogan's efforts to repatriate them.&nbsp;

"There are four million migrants in our country," Erdogan said. "It is possible that a serious number of those migrants will migrate to Europe.&nbsp;

"The safe zone we want to create aims to ensure the migrants that are in our country go back to their homes, their lands."

The EU strongly criticised Turkey's offensive last month in northern Syria, which was designed to create the "safe zone".&nbsp;

Erdogan said the EU's approach was "far from being constructive lately.... With that attitude, they only harm their own interests."&nbsp; 
&nbsp;

Turkish President Recep Tayyip Erdogan on Thursday repeated his threat to "open the gates" for migrants to enter Europe unless more international support was provided, during a visit to Hungary on Thursday.

Turkish President Recep Tayyip Erdogan on Thursday repeated his threat to "open the gates" for migrants to enter Europe unless more international support was provided, during a visit to Hungary on Thursday. "Whether or not support comes, we will continue to host our guests, but only up to a point," Erdogan said at a news conference alongside Hungarian Prime Minister Viktor Orban. "If we see that this does not work, just like I said before, we will have no option left but to open the gates. If we open the gates, it is obvious where they will go," Erdogan added. Erdogan has called on EU countries to provide more financial support for his plan to create a "safe zone" in Syria where refugees can be repatriated. Orban has been one of Europe's most outspoken opponents of accepting refugees and migrants, particularly from Muslim countries, and has backed Erdogan's efforts to repatriate them. "There are four million migrants in our country," Erdogan said. "It is possible that a serious number of those migrants will migrate to Europe. "The safe zone we want to create aims to ensure the migrants that are in our country go back to their homes, their lands." The EU strongly criticised Turkey's offensive last month in northern Syria, which was designed to create the "safe zone". Erdogan said the EU's approach was "far from being constructive lately.... With that attitude, they only harm their own interests."

Erdogan repeats threat to 'open the gates' for migrants to enter Europe

How Ayatollah Khomeini's feared Islamic Revolutionary Guards Corps changed Iran

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