Business news
- Capital One is buying startup Brex for $5.15 billion in credit card firm's latest deal - Capital One's acquisition of Brex is the latest deal under Rich Fairbank, a rare founder-CEO of a major U.S. bank, after its Discover Financial deal last year.
- Intel stock falls 6% after company offers soft first-quarter guidance - Intel reported fourth-quarter earnings on Thursday that beat Wall Street expectations but offered soft guidance for the current quarter.
- Greenland PM: Don't know details of Trump-NATO deal framework, but sovereignty is a 'red line' - Nielsen criticized Trump's aggression toward Greenland, saying the rhetoric is "unacceptable."
- Trump sues Jamie Dimon, JPMorgan Chase over alleged 'political' debanking - Chase Bank closed Trump's accounts on the heels of the Jan. 6, 2021, U.S. Capitol riot and the president exiting the White House later that same month.
- Rieder odds rising for Fed chair after Trump calls BlackRock executive 'very impressive' - Traders on the Kalshi predictions market raised the odds for Rieder getting the nomination to 33%
- Fed's main gauge shows inflation at 2.8% in November, edging further away from target - Inflation drifted slightly further from the Federal Reserve's target in November though in line with expectations.
- OpenAI chair Bret Taylor says AI is 'probably' a bubble, expects correction in coming years - Taylor said the free market will ultimately determine where the value is and which AI players have the best products.
- Trump's latest tariffs U-turn is sparking a global market rally — and reviving talk of the 'TACO trade' - "Donald Trump’s TACO bell has rung once again, much to the joy of financial markets," one investor said on Thursday.
- Procter & Gamble earnings top estimates, but shrinking demand weighs on sales - Procter & Gamble topped Wall Street's estimates for its quarterly earnings, but the company's revenue was weaker than expected.
- Nvidia's Huang says AI boom will create 'six-figure salaries' for those building chip factories - "We're talking about six-figure salaries for people who are building chip factories or computer factories or AI factories," Nvidia's Jensen Huang said at WEF.