Trending Market News

Alibaba is preparing to take its chipmaking unit T-Head public through an initial public offering, according to Bloomberg News. As a first step, the company plans to restructure T-Head as a business partly owned by employees before pursuing the IPO. Reuters could not immediately verify the report.

• Alibaba's chipmaking arm T-Head is being prepared for a potential IPO listing
• The restructuring will involve converting T-Head into a business with partial employee ownership before the public offering
• The report remains unverified by Reuters and is based on unnamed sources familiar with the matter

Volkswagen's shares surged to their biggest daily gain in six months after the company reported 2025 net cash flow of approximately 6 billion euros in its automotive division, significantly exceeding its guidance of around zero. The result was 1 billion euros higher than the previous fiscal year and surprised analysts with the magnitude of the beat.

• VW's automotive division generated 6 billion euros ($7.01 billion) in net cash flow for 2025, beating company expectations of roughly zero
• The stock rose to 104.40 euros at 0840 GMT, heading for its largest single-day gain in six months
• Jefferies analysts noted that while management had hinted at potential upside, the magnitude of the cash flow beat was surprising

Norwegian telecom operator Telenor has agreed to sell its entire 30.3% stake in Thailand's True Corporation for approximately $3.92 billion (39 billion Norwegian crowns). The sale will occur in two phases, with 24.95% sold immediately to Arise Digital Technology Company, owned by Khun Suphachai Chearavanont, and the remaining 5.35% to be sold two years after the initial closing.

• The initial transaction involves 24.95% of True Corporation, with the remaining 5.35% stake sale scheduled for two years after closing
• The buyer, Arise Digital Technology Company, is owned by Khun Suphachai Chearavanont
• Total deal value is 39 billion Norwegian crowns, equivalent to $3.92 billion at current exchange rates

JPMorgan Chase CEO Jamie Dimon publicly criticized President Trump's immigration enforcement tactics at the World Economic Forum in Davos, specifically referencing videos of ICE officers' confrontations with alleged undocumented immigrants. This represents a rare public rebuke of Trump policy by a major U.S. corporate leader, breaking from widespread CEO reluctance to criticize the administration.

• Dimon criticized ICE enforcement methods, saying 'I don't like what I'm seeing, five grown men beating up a little old lady' and urged the administration to 'calm down' on immigration anger
• The JPMorgan CEO advocated for citizenship pathways for 'hardworking people' and proper asylum opportunities, emphasizing immigrants are needed in hospitals, hotels, restaurants and agriculture
• When challenged about a 'climate of fear' among U.S. CEOs regarding Trump criticism, Dimon defended his outspokenness, noting he has publicly disagreed with Trump's tariffs, immigration policies, and stance on European allies

President Trump announced he has narrowed his search for the next Federal Reserve Chair to potentially one candidate, down from an initial field of 11. The selection comes amid heightened tensions with current Chair Jerome Powell, whose removal appears nearly certain. The decision will significantly impact Fed independence and monetary policy direction.

• Trump narrowed candidates from 11 to 'maybe one' in his mind, with finalists believed to include former Fed Governor Kevin Warsh, current Governor Christopher Waller, and BlackRock's Rick Rieder
• National Economic Council chief Kevin Hassett has likely been eliminated from contention as Trump prefers he remain at the NEC
• The selection follows unprecedented conflict with current Chair Powell, including verbal attacks, firing threats, and an actual attempt to remove Governor Lisa Cook that reached the Supreme Court

Apple plans to transform Siri into an AI chatbot called 'Campos' later this year, deeply embedding it across iPhone, iPad, and Mac operating systems. This revamp follows lukewarm reception to Apple's 2024 'Apple Intelligence' launch and represents the company's effort to catch up with Big Tech rivals in AI. The chatbot will use a higher-end version of Google's custom model following Apple's recent deal with the tech giant.

• Campos will replace the current Siri interface with both voice- and typing-based modes, powered by Apple Foundation Models version 11 (comparable to Gemini 3)
• Apple struck a deal with Google earlier this month to use their AI technology, a major win for Alphabet which competes with Apple in smartphones
• Separately, Apple is developing an AI-powered wearable pin with cameras, speaker, and microphones for potential release as early as 2027

FAA Administrator Bryan Bedford stated that the Federal Aviation Administration is not impeding Boeing's certification process for the 737 MAX 7 and MAX 10 variants. Bedford emphasized that the FAA has allocated significant resources to support Boeing, but the company must complete its own required work to achieve certification. The statement addresses ongoing concerns about delays in getting these aircraft variants approved.

• The FAA has devoted significant resources to help Boeing certify the smaller 737 MAX 7 and larger MAX 10 variants
• Administrator Bedford clarified that Boeing is responsible for completing the necessary work and 'they're doing the work'
• The FAA administrator explicitly stated 'I don't think FAA is the roadblock' on the certification of these two aircraft variants

Jeff Bezos' Blue Origin announced plans to launch TeraWave, a satellite internet service featuring 5,408 satellites targeting enterprise, data center, and government customers. Deployment is expected to begin in Q4 2027, entering a market currently dominated by SpaceX's Starlink, which has over 9,000 satellites and 9 million customers, and also competing with Amazon's Project Kuiper.

• TeraWave will provide data speeds up to 6 terabits per second using satellites in low Earth orbit and medium Earth orbit, with first deployments starting in Q4 2027
• The service will compete directly with SpaceX's Starlink (9,000+ satellites, 9 million customers) and Amazon's Project Kuiper (targeting 3,236 satellites)
• Bezos has stated he believes Blue Origin will eventually become a bigger company than Amazon, which he founded in 1994

French video game publisher Ubisoft announced a major restructuring on Wednesday, splitting into five creative divisions starting in April while significantly revising its financial outlook downward. The company is canceling six games including a 'Prince of Persia' remake and delaying seven other projects as part of a broader cost-cutting effort.

• Ubisoft now forecasts 2026 net bookings of around 1.5 billion euros and an operating loss of roughly 1 billion euros, down from previous expectations of 1.9 billion euros in bookings and break-even operations
• The restructuring creates five 'Creative Houses' with separate management and budgets, including Vantage Studios (backed by 1.16 billion euro Tencent investment) managing major franchises like 'Assassin's Creed'
• Game cancellations and delays will result in a 650 million euro hit, while the company targets an additional 200 million euros in cost savings over two years beyond the 100 million euro program completing in March

UnitedHealth Group will provide rebates to its Obamacare plan members in 2026 by voluntarily eliminating its profits on ACA coverage, CEO Stephen Hemsley announced. The move comes as Americans face sharply higher premiums after Congress allowed COVID-19-era enhanced tax credits to expire, with average premium costs jumping from $888 in 2025 to $1,904 in 2026. The decision affects plans in 30 states, though UnitedHealth expects its ACA enrollment to decline by about two-thirds.

• Average Obamacare premium costs will more than double to $1,904 in 2026 from $888 in 2025 after enhanced tax credits expired, leaving millions facing higher out-of-pocket costs
• UnitedHealth is working with the Trump administration on rebate details and will offer ACA marketplace plans in 30 states for 2026
• The company expects its ACA enrollment to decrease by approximately two-thirds despite the voluntary profit elimination and rebate initiative

Merck and the Coalition for Epidemic Preparedness Innovations (CEPI) announced a $30 million partnership to develop an improved, more affordable version of Merck's Ebola vaccine, Ervebo, specifically targeting low- and middle-income countries. The collaboration aims to simplify manufacturing, reduce costs, and extend shelf life through process improvements that would allow standard refrigerator storage.

• The updated vaccine will address Ervebo's current complex and expensive manufacturing process, which limits scale production and accessibility
• Planned improvements include increased production yield and extended shelf life with standard refrigerator storage for several months
• Merck will partner with Hilleman Laboratories, SK bioscience, and IDT Biologika on development, with plans to offer significantly lower pricing to public-sector buyers in target countries

Venezuela's oil exports to the U.S. under a $2 billion supply deal have reached only 7.8 million barrels as of January 21, far below the agreed 50-million-barrel capacity. The slow progress, hampered by storage difficulties and pricing disputes, has prevented state oil company PDVSA from reversing recent production cuts or clearing swollen inventories. Trading houses Vitol and Trafigura received the first licenses to export the crude following a U.S.-Venezuela agreement earlier in January.

• Only seven tankers have departed Venezuelan waters since January 12, carrying oil to Caribbean storage terminals in the Bahamas, St. Lucia, and Curacao, with customers reluctant to pay traders' asking prices
• Venezuela reports $300-500 million in initial proceeds from sales, while Chevron has accelerated shipments beyond its December rate of 100,000 barrels per day
• Storage and transfer challenges continue to prevent PDVSA from significantly reducing inventories or reversing production cuts imposed in early January

European lawmakers suspended approval of a July 2024 EU-U.S. trade deal on Wednesday in response to President Trump's proposed 10% to 25% tariffs on European nations and his push to acquire Greenland. EU Parliament member Bernd Lange stated the tariff threats violate the trade pact terms and constitute an attack on EU economic and territorial sovereignty.

• Trump proposed tariffs of 10% to 25% on European nations while calling for 'ownership and control' of Greenland at the World Economic Forum in Davos
• EU INTA chair Bernd Lange accused Trump of 'using tariffs as an instrument of political pressure' to acquire Greenland from Denmark (an EU member)
• The EU will suspend the trade deal approval process until tariff threats are removed and there is clarity on the Greenland situation

Amazon has launched Health AI, an artificial intelligence health-care assistant for One Medical members, which uses large language models to answer questions, manage medications, and book appointments based on patients' medical records. The service joins similar AI health-care features recently introduced by OpenAI and Anthropic. One Medical, acquired by Amazon for $3.9 billion in 2023, charges members $99-$199 annually for access to its primary care services.

• Health AI uses Amazon's Bedrock service to provide personalized advice based on medical records, lab results, and current medications, but is not intended to replace doctor visits or provide diagnosis
• Amazon differentiates its offering by not requiring document uploads or external app connections, claiming it is 'more actionable' than competitors like OpenAI's ChatGPT Medical and Anthropic's similar feature
• The tool was piloted with a subset of One Medical members last spring before the broader rollout, and includes clinical protocols to escalate serious symptoms to providers when needed

U.S. insurer Lemonade announced a 50% rate reduction for Tesla drivers using Full Self-Driving (FSD) software, based on telemetry data showing reduced accident rates. The new 'Autonomous Car insurance' product launches in Arizona in January and Oregon in February, marking a significant endorsement of Tesla's safety claims despite ongoing regulatory scrutiny of the technology.

• Lemonade will access Tesla vehicle telemetry data to distinguish between FSD-driven miles and human-driven miles for its pay-per-mile insurance pricing
• Tesla's FSD is classified as Level 2 autonomy requiring driver supervision, and the U.S. auto safety regulator is currently investigating multiple crashes and traffic violations involving the technology
• Lemonade plans to reduce rates further as Tesla releases FSD software updates that improve safety, differentiating itself from traditional insurers that 'treat a Tesla like any other car'

India's Reliance Industries will resume purchasing sanctions-compliant Russian oil in February and March 2022 after a one-month pause, buying from non-sanctioned sellers rather than directly from Rosneft. The company will process these cargoes at its India-focused refinery to continue selling fuels to the EU from its export-oriented facility. Indian refiners are increasing Middle Eastern crude purchases as they shift away from Russian oil following new sanctions.

• Reliance previously imported 500,000 barrels per day of Russian crude under a long-term agreement with Rosneft for its 1.4 million bpd Jamnagar refinery complex
• EU sanctions effective January 21 prohibit fuel imports from refineries that processed Russian oil within 60 days prior to shipment, prompting Reliance to segregate operations between its 660,000 bpd domestic and 704,000 bpd export-oriented refineries
• India's overall Russian oil imports are expected to remain subdued through March as refiners boost Middle Eastern purchases to mitigate sudden sanctions risks

Brazil's central bank ordered the liquidation of Will Financeira SA, a unit of troubled lender Banco Master, after its financial condition deteriorated and a market solution failed. The move follows Mastercard's suspension of Will Bank cards due to non-payment violations, and comes two months after Banco Master itself was liquidated amid fraud allegations and a severe liquidity crisis.

• Mastercard suspended Will Bank cards from its network due to non-compliance with payment settlement schedules, after the Master group had funds blocked as collateral
• Will's liquidation stems from worsening insolvency, conflicts of interest with parent Banco Master, and failed attempts to preserve operations through a market-based solution
• Banco Master was shut down in November 2025 amid a federal police fraud probe involving alleged trading of non-existent credit securities and serious regulatory violations

Halliburton exceeded Wall Street's fourth-quarter profit expectations, reporting adjusted earnings of 69 cents per share driven by steady international demand for oilfield services and equipment. The results come as the sector prepares for potential expansion in Venezuela following the Trump administration's $100 billion investment plan to revive the country's oil industry.

• International segment revenue reached $3.5 billion in Q4, up from $3.4 billion year-over-year, boosted by offshore exploration and drilling activity in the Middle East, Africa, and Asia
• Halliburton was first among U.S. oilfield services providers to report earnings this season, setting a positive tone for the sector
• The Trump administration has outlined a long-term plan encouraging energy companies to invest $100 billion in Venezuela's oil industry revival

Chevron plans to finalize the sale of its Singapore oil refining and distribution assets in Q1 2025, with Japanese refiner Eneos and commodities trader Glencore in final-round negotiations. The assets, valued at $1 billion or more, include a 50% stake in a 290,000 barrel-per-day refinery, the Penjuru terminal, and retail stations across Singapore, Cambodia, and Malaysia. The sale is part of Chevron's broader strategy to divest Asian refining assets and streamline global operations.

• Assets include Chevron's 50% stake in Singapore Refining Co (290,000 bpd capacity), Penjuru terminal with 400,000+ cubic meters storage capacity, and approximately 500 Caltex retail stations across three countries
• Japanese refiner Eneos (operating 9 refineries in Japan) seeks its first Asian refining asset outside Japan, while Glencore aims to expand its regional trading portfolio after acquiring Singapore's Bukom refinery
• The deal provides strategic access to Singapore's major fuel blending and bunkering hub, enabling easy distribution to Southeast Asian import markets as part of Chevron's global cost-reduction and restructuring efforts

Burberry exceeded holiday quarter sales expectations with a 3% comparable store sales increase, driven by a marketing campaign focused on British heritage and strong growth among Gen Z shoppers in China. New CEO Joshua Schulman's turnaround strategy, emphasizing core products like trench coats and scarves, is showing early success after the company reduced its workforce by 20% in 2024.

• Q3 revenue reached 665 million pounds, with comparable store sales up 3%, beating the 2% analyst consensus forecast
• China sales rose 6% on a comparable basis, with 'double-digit' growth in Gen Z customers driving recovery in the key luxury market
• The company did less discounting than the previous year with a shorter and 'shallower' markdown period, indicating stronger full-price demand, and expects full-year adjusted operating profit of 149 million pounds