Trending Market News

Tesla has begun offering driverless robotaxi rides in Austin, Texas, without safety monitors in the vehicles, according to CEO Elon Musk. This marks a significant milestone in the company's autonomous vehicle deployment, representing one of the first commercial driverless taxi services operating without human oversight in the car.

• Tesla is operating fully driverless robotaxis on public roads in Austin with no safety drivers present
• The announcement was made by CEO Elon Musk on January 22, 2026
• This deployment represents a major step toward commercializing Tesla's autonomous driving technology

U.S. President Donald Trump filed a $5 billion lawsuit against JPMorgan Chase and CEO Jamie Dimon in Florida state court, alleging the bank closed his accounts for political reasons. The lawsuit, filed by Trump's attorney on Thursday morning, claims JPMorgan engaged in 'debanking' following the January 6, 2021, Capitol attack. JPMorgan has not yet responded to the allegations.

• The lawsuit seeks $5 billion in damages and was filed in Miami-Dade County, Florida state court
• Trump alleges JPMorgan terminated his banking relationship due to political motivations after the January 6, 2021 Capitol incident
• JPMorgan Chase has not provided comment on the lawsuit, and Reuters could not independently verify all details of the filing

Canadian nuclear fusion startup General Fusion announced plans to go public in the U.S. through a $1 billion SPAC merger with Spring Valley Acquisition Corp. III, expected to close by mid-2026. The company is developing magnetized target fusion technology but has not yet built a commercially viable reactor, with its first power plant expected in the mid-2030s. The move comes amid surging demand for clean energy driven by AI data centers and broader electrification needs.

• The deal includes $105 million in committed funding and will list on Nasdaq under ticker 'GFUZ' by mid-2026
• General Fusion has not yet proven commercial viability or built a reactor producing net energy, with first-of-a-kind power plant targeted for mid-2030s
• Rising nuclear energy interest in the U.S. driven by massive electricity demand from AI data centers and electrification across transportation and manufacturing sectors

SpaceX is enlisting four major Wall Street banks for senior roles in a potential initial public offering, according to a Financial Times report. Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are being lined up to lead the IPO process for Elon Musk's space exploration company.

• Four major investment banks (Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley) are being positioned for senior leadership roles in the potential offering
• The move signals SpaceX may be preparing for public markets despite CEO Elon Musk's historical preference for keeping companies private
• SpaceX is one of the world's most valuable private companies, making any potential IPO a significant event for both space industry and capital markets

Moderna CEO Stephane Bancel announced the company will halt investments in new late-stage vaccine trials due to increasing opposition to immunizations from U.S. officials. This strategic shift represents a significant pullback in vaccine development by one of the leading COVID-19 vaccine manufacturers in response to the changing political climate around vaccinations in the United States.

• Moderna is stopping investments specifically in new late-stage vaccine trials, indicating a major change in its research and development pipeline
• The decision is directly attributed to growing anti-vaccination sentiment from U.S. government officials, reflecting policy uncertainty in the healthcare sector
• The move marks a retreat by a major pharmaceutical company that was central to COVID-19 vaccine development and distribution

Trading house Vitol is preparing to export Venezuelan fuel oil under a new U.S.-backed oil supply deal, following the recent capture of Venezuela's president. Vitol and Trafigura received the first U.S. licenses earlier this month to load and export Venezuelan oil, marking a significant shift after years of U.S. sanctions. The move signals accelerating re-entry of Venezuelan oil to global markets including the U.S., Europe, and India.

• Vitol executives instructed partners to assess PDVSA terminals including Amuay and El Palito to begin loading fuel oil cargoes in the coming days
• Venezuela has millions of barrels of crude and fuel oil stored onshore and in vessels due to a U.S. oil blockade that began in December
• The OPEC nation produces high-sulfur residual fuel oil previously sold to Asian customers, with trading firms currently storing cargoes at Caribbean terminals while marketing to refiners

Design software maker Autodesk announced plans to lay off approximately 7% of its global workforce, affecting roughly 1,000 employees out of its 15,300-person staff. The cuts will primarily impact customer-facing sales functions, with the restructuring expected to be completed by the end of fiscal Q4 2027.

• Approximately 1,000 employees will be laid off, representing 7% of Autodesk's 15,300-person workforce as of January 31, 2025
• Sales functions will bear the brunt of the reductions, indicating a strategic shift in the company's customer-facing operations
• The restructuring timeline extends through fiscal Q4 2027, suggesting a gradual implementation over the next two years

Spotify launched its 'prompted playlist' feature for premium subscribers in the US and Canada, an AI-powered tool that allows users to customize playlists using commands and listening habits. Following a successful pilot in New Zealand, this expansion is part of Spotify's broader strategy to convert free-tier users to paid subscriptions through AI-enhanced personalization features.

• The feature enables users to set 'rules' for generated content and schedule automatic refreshes daily or weekly, positioning listeners as active participants rather than passive recipients of algorithm suggestions
• The rollout follows Spotify's announcement earlier in January to raise premium subscription prices in the US, Estonia, and Latvia starting in February
• Spotify VP of Product Personalization emphasized that listeners want to 'actively shape their own experience' rather than simply receive platform-generated suggestions

Alphabet's Waymo launched its robotaxi service in Miami on Thursday, marking its sixth U.S. market and first new market of 2026. The expansion strengthens Waymo's lead in the U.S. autonomous vehicle market as domestic competition lags, with plans to enter 10 additional cities in 2026 including Dallas, Denver, and Washington.

• Waymo will initially serve a 60-square-mile area covering Miami's Design District, Wynwood, Brickell, and Coral Gables, with nearly 10,000 residents already signed up
• The company crossed 200,000 weekly paid rides in December and served over 4 million trips in 2025, while reportedly in talks to raise $15 billion in funding
• The Miami launch follows recent safety concerns after Waymo vehicles contributed to gridlock during storms and power outages in San Francisco last month

Spirit Airlines is in negotiations with investment firm Castlelake for a potential takeover as the struggling discount carrier seeks a path out of bankruptcy. Spirit filed for Chapter 11 protection in August 2024 for the second time in a year, after previous merger talks with Frontier Airlines failed to produce a deal.

• Spirit secured an additional $50 million in immediate funding in mid-December, with further financing contingent on progress toward a standalone reorganization plan or strategic transaction
• The airline's unions agreed to $100 million in pay concessions for pilots and flight attendants as part of cost-cutting measures that also included route reductions, fleet downsizing, and job cuts
• Castlelake, active in aviation finance, launched Merit AirFinance in August with $1.8 billion in deployable capital, positioning it as a potential strategic partner for Spirit's restructuring

Corcept Therapeutics announced on Thursday that its experimental cancer drug successfully met the primary endpoint in a late-stage clinical trial. This represents a significant milestone in the drug's development toward potential regulatory approval and commercialization.

• The experimental cancer treatment achieved its main goal in the final phase of clinical testing, moving it closer to potential FDA approval
• Late-stage trial success is a critical step that typically precedes regulatory submission and can significantly impact a pharmaceutical company's valuation

Abbott Laboratories missed Wall Street's fourth-quarter revenue estimates on Thursday, reporting $11.46 billion versus the expected $11.80 billion. The shortfall was driven by weakness in its diagnostics and nutrition divisions, particularly from declining COVID-19 testing demand and pricing pressures in China.

• Abbott's diagnostics division faces a projected $700 million revenue hit in 2025, primarily due to steep declines in COVID-19 testing demand
• China's volume-based procurement program is creating additional pressure by purchasing laboratory equipment and consumables in bulk at substantial discounts
• Total quarterly revenue of $11.46 billion fell short of the $11.80 billion analyst consensus estimate

Mercedes unveiled its 2026 Formula One W17 car and announced a major sponsorship partnership with Microsoft, with industry experts estimating the deal at $60 million annually. The former champions, who finished fourth last season, are hoping the new car will return them to competitiveness after winning eight consecutive constructors' titles from 2014-2021.

• Microsoft branding will appear on the car's airbox and front wing sides, though no official financial terms were disclosed
• Mercedes finished fourth in 2025 with George Russell taking two wins and rookie Kimi Antonelli securing three podiums and becoming youngest podium finisher
• Testing begins in Barcelona next week amid speculation Mercedes has found a performance advantage over rivals like Ferrari, with the season starting March 8 in Australia

Apple has requested a Delhi High Court to block India's Competition Commission (CCI) from obtaining its global financial records during an ongoing antitrust investigation into app store practices. The company fears significant penalties based on worldwide revenue and is challenging the validity of India's 2024 penalty rules while the CCI continues to demand financial documentation.

• Apple filed a petition on January 15 asking the court to halt the entire CCI investigation and prevent action against the company while its legal challenge to penalty rules is pending
• The CCI issued a private notice on December 31 demanding Apple's financial records, despite the company's ongoing court challenge to the underlying penalty framework
• A hearing is scheduled for January 27 at Delhi High Court to address Apple's request to stop the antitrust watchdog's document demands

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