Stock futures declined Sunday night, with Nasdaq 100 futures leading the drop at -0.8%, following news of an investigation into Fed Chair Powell's testimony, raising concerns about the Fed's independence. Investors shifted towards safe-haven assets, driving gold futures up 1.7% to $4,578 per ounce and silver up over 4%, signaling market apprehension amidst political uncertainty.
TSMC's increased capital spending forecast of up to $56 billion in 2026, driven by strong AI demand, spurred a tech stock rally, with the Nasdaq 100 futures reversing losses to gain 0.4%. The positive outlook benefited key TSMC customer ASML Holding NV, whose stock jumped 7%, while metals experienced a decline from recent peaks.
SpaceX's Starlink is reportedly providing free internet service to users in Iran, according to U.S.-based tech nonprofits, amidst government-imposed communication blackouts during mass protests. The move, which waives standard fees, aims to provide crucial connectivity in the region, though SpaceX has not officially commented on the reported initiative. This action could significantly impact information flow and online organization within Iran during the ongoing unrest.
TGI Fridays shuttered 16 UK locations, resulting in 456 job losses, after the Liberty Bar and Restaurant group entered administration. The remaining 33 restaurants were salvaged through a rescue deal with Sugarloaf, safeguarding 1,384 jobs and providing a platform for future growth amidst challenging times for hospitality operators. This move is part of TGI Fridays' broader turnaround strategy to establish a more stable foundation in the UK market.
Meta is reportedly planning to lay off 10-15% of Reality Labs' 15,000 employees, impacting its metaverse-focused division, as the company redirects resources towards AI development. This move comes as CEO Mark Zuckerberg prioritizes AI research, increasing the budget for the TBD Lab, amid growing competition from companies like OpenAI and Google, while also asking executives to cut their 2026 budgets. The layoffs, while a small fraction of Meta's 78,000-strong workforce, signal a strategic shift away from the metaverse and towards AI.
Despite President Trump's claims of a manufacturing revival and over $70 billion in new investments from companies like Ford, Stellantis, and GM, the auto industry has seen a decline in payrolls since Liberation Day. The manufacturing sector has shed approximately 72,000 jobs since April, indicating that increased investment is not currently translating into job creation within the automotive sector. This divergence raises concerns about the true impact of the investment surge on American workers.
Slate, a social media content creation platform, swiftly implemented a cleaning service stipend for employees after its head of marketing, Christina Le, suggested it on LinkedIn as a practical wellness benefit. This move, implemented within a day of Le's suggestion, demonstrates Slate's commitment to employee well-being and a responsive approach to company culture, potentially boosting employee satisfaction and productivity. The financial impact of this new benefit was not disclosed.
A Swiss judge extended the detention of Jacques Moretti, co-owner of Le Constellation bar in Crans-Montana, for 90 days following a New Year's Eve fire that killed 40 and injured 116, many under 20. Moretti and his wife face potential manslaughter and arson charges, with prosecutors citing flight risk as justification for the extended custody as investigations continue into safety lapses at the bar, which hadn't been inspected in five years.
Nine NFL teams are seeking head coaches, a high-pressure role offering multi-million dollar salaries and control over billion-dollar franchises. Despite no formal degree requirements, the position demands strategic leadership and the ability to quickly improve team performance in a highly visible and competitive market.
A World Bank report reveals that 25% of developing nations are financially worse off than pre-pandemic levels in 2019, with sub-Saharan Africa disproportionately impacted. Despite growth in some countries like Nigeria (4.4%), many, including South Africa (1.2%), failed to increase average incomes, highlighting a global growth slowdown insufficient for poverty reduction and job creation. This economic downturn underscores significant challenges for low-income nations in achieving sustainable development.
Amidst an Iranian internet blackout during anti-government protests, Starlink, a SpaceX division, provides crucial satellite internet access, enabling a small segment of the population to bypass government censorship. This mirrors Starlink's impact in Ukraine post-Russian invasion, where it became vital for communication; however, specific user numbers and financial implications in Iran remain undisclosed. The service is pivotal for activists seeking to share information with the outside world.
Meta is reportedly planning to cut 10-15% of Reality Labs employees, impacting the division's 15,000-person workforce, as the company redirects resources towards AI development. This move, while a small fraction of Meta's total 78,000 employees, signals a strategic shift away from metaverse projects amid increasing competition in the AI space from companies like OpenAI and Google. The cuts come as CEO Mark Zuckerberg focuses on AI research and development, including increasing the budget for the TBD Lab.
The U.S. will reduce tariffs on Taiwanese goods to 15 in exchange for at least $250 billion in new direct investments from Taiwanese semiconductor and technology companies to bolster domestic chip production. This agreement, which includes tariff carve-outs for Taiwanese firms investing in the U.S., aims to mitigate supply chain risks and achieve self-sufficiency in semiconductor manufacturing, supported by substantial government subsidies and accelerated investments from industry leaders like TSMC.
TGI Fridays shuttered 16 UK locations, resulting in 456 job losses, after Interpath was appointed as administrator to Liberty Bar and Restaurant group. Sugarloaf, manager of the global TGI Fridays brand, acquired the remaining 33 restaurants in a rescue deal that saved 1,384 jobs, aiming to stabilize the business amid challenging times for hospitality operators. The move is part of a wider turnaround plan to establish a foundation for future growth.
Analysts predict a "booming" UK mortgage market by 2026, fueled by increased competition among lenders and a surge in available mortgage products to an 18-year high. While mortgage rates have fallen below 5% since August, offering relief to borrowers, global economic uncertainty could still impact further improvements. Over 80% of mortgage holders are in fixed-rate deals, facing potential financial adjustments upon renewal.
The UK economy expanded by 0.3% in November, exceeding forecasts of 0.1% growth, driven by a rebound in car manufacturing, particularly at Jaguar Land Rover, and increased services activity linked to the Budget. This stronger-than-anticipated performance, following a revised 0.1% contraction in October, suggests moderate growth for the final quarter of 2025, despite ongoing economic uncertainties.
Oracle is facing challenges attracting tech talent to its new Nashville "world headquarters," despite a $1.2 billion investment, a $65 million economic grant, and incentives like a 2 million-square-foot office space and a Nobu restaurant. The company, which committed to creating 8,500 jobs in Nashville, is also tied to $175 million in infrastructure improvements, recouping investment through 50% property tax reimbursements. This struggle could impact Oracle's AI innovation hub ambitions and the broader Nashville tech market.
Amidst a near-total internet shutdown in Iran due to anti-government protests, SpaceX's Starlink is providing crucial internet access to a small segment of the population, mirroring its role in Ukraine following the Russian invasion. This connectivity is enabling the flow of information to the outside world, despite government efforts to suppress it, though the specific financial impact on Starlink and the overall market is not quantified. With over 2,600 people reportedly killed, the satellite internet service is proving vital for activists seeking to bypass censorship.
The UK economy expanded by 0.3% in November, surpassing analyst expectations of 0.1% growth, driven by a rebound in car manufacturing, particularly at Jaguar Land Rover, and increased activity in the services sector. This growth, following a revised 0.1% contraction in October, suggests a modest expansion for the UK economy in the final quarter of 2025, with economists anticipating continued growth supported by easing post-Budget uncertainty.
Paramount has sued Warner Bros. Discovery (WBD) in Delaware court, challenging WBD's $82.7 billion deal with Netflix and arguing that Paramount's $108.4 billion all-cash offer of $30 per share is superior. The lawsuit seeks transparency on WBD's valuation methods, aiming to sway shareholders before the January 21 deadline to tender their shares.
