Business news
- Banks including Citi, JPMorgan slide after Trump calls for credit card interest rate limit - Posting on Truth Social, Trump said said he would "no longer let the American Public be 'ripped off' by Credit Card Companies."
- Trump threatens to sideline Exxon from Venezuela's oil: 'They're playing too cute’ - His comments come shortly after Exxon CEO Darren Woods said the Venezuelan market is "uninvestable" in its current state.
- Gold smashes new record of $4,600 as Powell probe and global flashpoints ignite safe-haven rush - Spot gold advanced higher to hit over $4,600 an ounce for the first time.
- Dutch chip stock BE Semiconductor pops 8% after orders jump 105% in fourth quarter - European stocks started the new week in negative territory as investors weigh geopolitical developments and pressure on Fed Chair Jerome Powell.
- World's most vital oil chokepoint back in focus amid possible U.S. action against Iran - In an extreme escalation scenario, where tankers are unable to pass or energy infrastructure is damaged, oil prices could surge by double digits, said analysts.
- What a U.S. intervention in Iran could look like as Trump weighs options - President Donald Trump could seek to replicate the Venezuela shock tactic in Iran, but analysts are skeptical of effectiveness of such intervention.
- China's AI and robotics push isn't enough to kickstart its economy, leaving growth more exposed to trade risks - New tech sectors still account for a far smaller portion of China's economy than the gap left by the real estate slump.
- Japan plans to dissolve parliament with possible snap election in February: NHK - The snap election, if called in Feburary, would be just about five months into Takaichi's term as prime minister.
- Fed Chair Powell under criminal probe by federal prosecutors: Report - President Donald Trump has criticized Federal Reserve chief Jerome Powell for not cutting interest rates as much and as quickly as the president wants.
- Asia-Pacific markets set to open higher, tracking Wall Street gains on U.S. jobs data - Investors will be keeping an eye on oil prices as protests continue in Iran and U.S. President Donald Trump reportedly is weighing options to intervene.