Millions of American households are struggling with soaring energy prices, leading to increased utility debt and service disconnections. A recent report indicates that nearly 5% of households are at risk of having their utility debt sent to collections, with severely overdue debt rising by 3.8% in the first half of Trump's second term, highlighting the growing financial strain on consumers.
Donald Trump announced a 25% tariff on any country conducting business with Iran, a move that could significantly impact global trade relations. The tariff, announced via social media, targets major economies like Russia, China, and Turkiye, all of which have substantial trade ties with Iran, potentially disrupting existing trade agreements and supply chains. This decision intensifies economic pressure on Iran amidst ongoing domestic unrest and follows recent threats from Trump, signaling a more aggressive stance towards the country.
Multiple news sources report that Google founders Larry Page and Sergey Brin are significantly reducing their ties to California, with both moving numerous business entities and personal investments to states like Nevada and Florida, potentially influenced by upcoming ballot measures. This marks a shift for the tech titans who built Google into a near $4 trillion company and helped establish Silicon Valley as the internet's global hub.
US job creation slowed significantly in 2025, adding only 50,000 jobs in December and averaging 49,000 per month for the year, a sharp decline from 168,000 in 2024. Despite a 4.3% economic growth rate driven by consumer spending and exports, the labor market experienced its weakest year since the Covid-19 pandemic, with downward revisions to October and November figures and losses in retail and manufacturing sectors. The unemployment rate dipped to 4.4%.
Saks Global, parent company of Saks Fifth Avenue and Neiman Marcus, is reportedly preparing to file for bankruptcy amid worsening financial struggles since its $2.7 billion acquisition of Neiman Marcus in 2024. The retailer faces inventory shortages and questions about its future, impacting shoppers, vendors, and investors. The merger, intended to cut costs and strengthen brands, has seemingly failed to deliver anticipated benefits.
A new executive order from President Trump protects Venezuelan oil revenue held in the U.S. from private claims, aiming to safeguard funds for governmental and diplomatic purposes. This move comes as the administration seeks to encourage U.S. oil companies, like ExxonMobil, to invest in Venezuela's reconstruction, with Trump estimating the U.S. is taking control of $30 to $50 million in Venezuelan oil sales. The order addresses concerns about political instability and potential asset seizures that have made Venezuela an unattractive investment environment.
President Trump's threat to impose a 25% tariff on nations trading with Iran intensifies economic pressure on the OPEC member, already struggling with high inflation and a devalued rial. This move could significantly impact Iran's key trading partners like China, which purchases 80% of its oil exports, and further destabilize the Iranian economy amidst ongoing protests fueled by economic hardship. The tariff aims to isolate Iran economically, potentially forcing a response from countries reliant on Iranian trade.
A World Bank report reveals that 25% of developing nations are economically worse off than pre-pandemic levels in 2019, with sub-Saharan Africa being disproportionately impacted. Global growth is projected to slow from 4.2% to 4% next year, hindering poverty reduction and job creation despite a resilient global economy. The report underscores the need for increased economic momentum to address these setbacks.
Saks Global, parent company to Saks Fifth Avenue and Neiman Marcus, is reportedly preparing to file for bankruptcy amid financial struggles stemming from its $2.7 billion acquisition of Neiman Marcus in 2024. Inventory shortages and broader financial woes are impacting the luxury retailer's operations, raising concerns among customers, vendors, and investors about the future of the combined entity.
A Swiss judge extended the detention of Jacques Moretti, co-owner of Le Constellation bar in Crans-Montana, for 90 days due to flight risk concerns following a New Year's Eve fire that killed 40 and injured 116. Moretti and his wife face potential charges of manslaughter, bodily harm, and arson by negligence after sparklers allegedly ignited the blaze in the bar, which hadn't undergone safety checks in five years, raising questions about regulatory oversight and potential liabilities. The incident has shaken the popular ski resort, potentially impacting tourism and local businesses.
Paramount has escalated its $108.4 billion hostile takeover bid for Warner Bros. Discovery (WBD) by filing a lawsuit to challenge WBD's $82.7 billion deal to sell its streaming and movie businesses to Netflix. Paramount's lawsuit seeks transparency on WBD's valuation of the Netflix transaction and its rejection of Paramount's $30 per share all-cash offer, which exceeds Netflix's offer of $27.72 per share. The legal action aims to sway WBD shareholders before the January 21 deadline to tender their shares.
Millions of American households are struggling with soaring energy prices, leading to increased utility debt and service disconnections. A recent report indicates that nearly 5% of households are at risk of having their utility debt sent to collections, with severely overdue debt rising by 3.8% in the first half of Trump's second term, highlighting the growing financial strain on consumers.
Multiple news sources indicate that US job creation slowed significantly in 2025, averaging only 49,000 new jobs per month, the weakest performance since the Covid-19 pandemic despite a 4.3% economic growth rate. The slowdown included downward revisions to previous months and losses in retail and manufacturing, though the unemployment rate dipped to 4.4%.
President Trump's threat to impose a 25% tariff on nations trading with Iran intensifies economic pressure on the OPEC member, already struggling with high inflation and a devalued rial due to existing sanctions. This move could significantly impact Iran's key trading partners like China, which purchases 80% of its oil exports, and further destabilize the Iranian economy amidst ongoing protests driven by economic hardship. The tariff aims to isolate Iran economically, potentially forcing a response from countries reliant on Iranian trade.
President Trump announced a 25% tariff on all trade with the U.S. for any country doing business with Iran, potentially impacting major trade partners like China, which imported over $14 billion in Iranian goods in the year to October 2023, and Iraq, which imported $10.5 billion. The move aims to exert economic pressure on Iran amidst internal unrest, but the lack of specifics raises uncertainty about its implementation and broader market consequences. The tariffs could significantly disrupt existing trade relationships and force countries to choose between economic ties with the U.S. and Iran.
Paramount Global has escalated its $108.4 billion hostile takeover bid for Warner Bros. Discovery (WBD) by filing a lawsuit to challenge WBD's $82.7 billion deal with Netflix. Paramount's lawsuit seeks transparency on WBD's valuation of its Global Networks and the Netflix transaction, arguing its $30 per share all-cash offer is superior to Netflix's $27.72 per share bid. The move aims to sway WBD shareholders before the January 21 deadline.
Shunda Park, a scam center in Myanmar, generated illicit revenue by employing over 3,500 individuals from nearly 30 countries in online scams, impacting victims globally. The complex, which began operations in 2024, highlights the growing problem of transnational cybercrime and its financial consequences, operating in a chaotic borderland environment. The center celebrated successful scams, such as a 5,000 or 50,000 shakedown, with gongs and drums.
Stock futures declined Sunday night, with Nasdaq 100 futures leading the drop at -0.8%, after news broke of an investigation into Fed Chair Powell's testimony, raising concerns about the Fed's independence. Investors shifted to safe-haven assets, driving gold futures up 1.7% to $4,578 an ounce and silver up over 4%, while the U.S. dollar weakened amid renewed political and monetary uncertainty.
The FTSE 100 surpassed 10,000 points for the first time since its 1984 inception, marking a significant milestone after a 20% rise in 2025. While the surge encourages investment, particularly for first-time investors, concerns remain about stock overvaluation amid ongoing cost-of-living pressures, highlighting the inherent risks of market volatility compared to more stable cash savings.
U.S. stock futures declined Sunday night, with Nasdaq 100 futures leading the drop at -0.8%, following news of an investigation into Fed Chair Powell, raising concerns about the Fed's independence. Investors shifted towards safe-haven assets, driving gold futures up 1.7% to $4,578 an ounce and silver up over 4%, while the U.S. dollar weakened amid renewed political and monetary instability fears.
