According to new data from the Office for National Statistics, U.K. GDP grew 0.1% in November, defying economists’ expectations and reducing the likelihood that Britain entered a technical recession in the fourth quarter. This is good news for the UK economy, which has been struggling in recent months.

Tesla is reducing prices on its electric vehicles in the United States and Europe, according to listings on the company's website. This is the second time Tesla has cut prices on its vehicles in the past month.

Chinese government entities are set to take so-called "golden shares" in units of Alibaba Group Holding Ltd. and Tencent Holdings Ltd., suggesting Beijing is moving to ensure greater control over key players in the world's largest internet arena.

European markets closed at their highest level in nearly four years on Thursday, despite a choppy afternoon following the release of U.S. inflation data.The Stoxx 600 index closed higher by 0.7%, with most sectors and major bourses in positive territory. This was a pan-European index, so it includes many different countries.

European markets soared to new heights at the start of the week, with sentiment bolstered by China's continued economic recovery. Investors are optimistic that the global economy is on the upswing, and are eager to capitalize on rising markets.