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Chancellor Angela Merkel opened a party convention Friday that will see members choose a new leader of her center-right Christian Democrats, a decision that will help shape German voters' choice of her successor after 16 years in office. Merkel, 66, has been looked on by many as a bedrock of stability at the helm of Europe's largest economy through multiple crises, most recently the coronavirus pandemic, but said two years ago she will not seek a fifth term as chancellor. In an opening statement, Merkel said that since she was first elected chancellor in 2005 the world had “changed dramatically,” noting the rise of Chinese power and the ubiquity of smart phones.

The $1.9 trillion rescue plan unveiled by President-elect Joe Biden offers the chance to sculpt the U. S. economy toward the Democrats’ liking: a $15 minimum wage, aid to poor families and federal dollars going to public schools. It’s an ambitious effort that would arrive after roughly $4 trillion has already been devoted to fighting the pandemic.

NEW YORK — Health officials say by March, a new and more infectious strain of coronavirus — first found in the United Kingdom — will likely become the dominant strain in the United States. The UK variant currently is in 12 states but has been diagnosed in only 76 of the 23 million U.

French oil and gas company Total said it has decided to withdraw from energy association American Petroleum Institute because it disagrees on climate-related policies. Total said in a statement Friday it would not renew its membership for 2021 following an analysis of API's position on climate issues that has shown “certain divergences.” The company notably mentions API's “support during the recent elections to candidates who argued against the United States’ participation" in the 2015 Paris Agreement to curb climate change.

Fearing the loss of their livelihoods under the continuing lockdown, some small business owners in Poland are planning to challenge COVID-19 restrictions and reopen their restaurants and tourist facilities, despite government warnings. There are also those who resort to new ideas.

The pandemic and recession aren’t over by a long shot, but banks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile. The financial performance of the big U. S. banks has improved from earlier in 2020, when the virus pandemic walloped the global economy.