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Ex-Trump Advisor Cohn: Greenland Sale "Off the Table

Former Trump advisor Gary Cohn dismissed the possibility of the U.S. acquiring Greenland, emphasizing its existing status. His comments, made at the World Economic Forum, highlight the intersection of geopolitical strategy, access to critical minerals, and potential trade tensions, as U.S. Treasury Secretary Scott Bessent urged calm amid tariff threats against Europe. Cohn, a former Goldman Sachs executive and White House economic advisor, underscored the gravity of the situation, cautioning against actions that could destabilize international alliances.

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Europe Halts US Trade Deal, Rattling Global Markets

3 min

Business2d ago

Europe Halts US Trade Deal, Rattling Global Markets

Multiple news sources report that the European Parliament is poised to suspend approval of the US trade deal due to escalating tensions, including potential tariffs and the US pursuit of Greenland, rattling global financial markets and reviving trade war concerns. This announcement has led to declines in US and European stock markets, mixed results in Asia-Pacific markets, a surge in gold prices, and a slight dip in the US dollar.

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Pimco CEO: Is the "Sell America" Trade Over?

3 min

Business1d ago

Pimco CEO: Is the "Sell America" Trade Over?

Multiple news sources report unusual market activity this week, including a drop in the S&P 500, a rise in US Treasury yields, and a decline in the dollar, sparking concerns about a "Sell America" trade possibly driven by geopolitical anxieties and a snap election in Japan. This has led to discussions with Pimco CEO Emmanuel Roman regarding these market movements, Pimco's investment strategies, and the broader implications for investors.

CNN Profit Plummets: $600M Forecasted, Down From $1B in 2016

Warner Bros. Discovery projects CNN's 2026 adjusted operating profit at $600 million, a significant decline from the nearly $1 billion reported a decade prior. This decrease highlights the evolving media landscape and the pressure on CNN to offset declining TV revenue with growth in its direct-to-consumer streaming business, impacting Warner Bros. Discovery's linear TV financial performance. The company still expects CNN's top-line revenue to grow over the next five years.

Serve Robotics Buys Hospital Robot Maker Diligent for $29M

Serve Robotics is acquiring Diligent Robotics, a hospital automation company, for $29 million, signaling its expansion beyond food delivery into the healthcare sector. This move allows Serve to leverage its expertise in last-mile delivery and human-robot interaction, potentially impacting the market for service robots in healthcare, after Diligent raised $75 million in venture capital since 2017. The acquisition follows Serve's public listing in April 2024 and reflects its strategic shift towards broader applications for its robotic technology.

Venezuela Oil Overhaul: Trump Eyes US Firm Role

Multiple news sources report that Venezuela's legislature is considering a bill to loosen state control over its oil sector, potentially allowing private companies to operate oil fields and market their own output, marking a significant shift from its socialist policies. This overhaul comes as the Trump administration pressures Venezuela to increase investment from U.S. energy companies following the capture of former President Maduro.

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Supreme Court Challenges Trump's Dismissal of Fed Governor Cook

3 min

Business1d ago

Supreme Court Challenges Trump's Dismissal of Fed Governor Cook

The Supreme Court is questioning the legality of Donald Trump's firing of Federal Reserve governor Lisa Cook, raising concerns about due process and the potential erosion of the Fed's independence. Justices across the political spectrum expressed skepticism about the administration's justification for the "for cause" removal, which could have significant implications for the central bank's ability to independently manage monetary policy and the broader economy. The case centers on accusations of mortgage fraud against Cook, which she denies, and the legal interpretation of presidential authority over the Federal Reserve.

Greenland Gambit: Trump's Push Triggers Market Plunge

President Trump's escalating Greenland acquisition efforts triggered a significant market downturn, with the S&P 500 dropping 2.1%, the Nasdaq falling 2.4%, and the Dow Jones declining 1.8%, marking Wall Street's worst day since October. Investors are reacting negatively to Trump's threats of tariffs against Denmark and other European nations, aimed at securing the Arctic territory amidst concerns over Chinese and Russian influence. The US dollar, typically a safe haven, also weakened.

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Ex-Trump Advisor Cohn: Greenland Sale Was Always a Non-Starter

3 min

Business3d ago

Ex-Trump Advisor Cohn: Greenland Sale Was Always a Non-Starter

Former Trump advisor Gary Cohn stated "Greenland will stay Greenland," addressing concerns about potential US acquisition plans and highlighting the territory's importance for critical mineral access. Amidst tariff threats against Europe, US Treasury Secretary Scott Bessent urged calm, while Cohn, formerly of Goldman Sachs, cautioned against aggressive actions, emphasizing the geopolitical implications for NATO. These comments, made at the World Economic Forum in Davos, reflect the business community's concern over potential international conflicts and trade disputes.

Bezos' Blue Origin Aims for 6Tbps Global Data with New Satellite Network

Blue Origin, Jeff Bezos' space company, unveiled plans for TeraWave, a 5,408-satellite megaconstellation targeting the enterprise market with data speeds up to 6Tbps. Unlike Starlink, TeraWave will focus on providing reliable connectivity to businesses, data centers, and government entities, utilizing both radio spectrum (up to 144Gbps) and optical links. This move signals Blue Origin's strategic entry into the high-stakes enterprise connectivity sector.

Bezos' Blue Origin Challenges Starlink with 5,400 Satellite Network

Blue Origin, backed by Jeff Bezos, is entering the satellite internet market with TeraWave, a planned network of over 5,400 satellites aimed at providing high-speed data transfer up to 6 terabits per second. This move positions Blue Origin as a competitor to Elon Musk's Starlink, which currently dominates the market, and Amazon's own Project Kuiper, though TeraWave will focus on serving data centers, businesses, and governments rather than individual consumers. While Amazon's Project Kuiper has around 180 satellites in orbit, it plans to have more than 3,000 in orbit.

Vanke's Silence Fuels Debt Fears as Restructuring Nears

China Vanke, facing a significant restructuring amidst the country's property crisis, has left bondholders uncertain about its repayment plans for upcoming bond maturities. During recent meetings, Vanke representatives provided limited details, raising concerns about the company's strategy for managing its debt obligations as it navigates a challenging market environment. Vanke was formerly China's largest builder.

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Duetti Secures $200M to Fuel Music Catalog Acquisition

3 min

Business2d ago

Duetti Secures $200M to Fuel Music Catalog Acquisition

Duetti secured $200 million in funding, including a $50 million Series C led by Raine Partners, to acquire independent music catalogs and expand its global technology and services. This latest round brings Duetti's total funding to $635 million, enabling the company to partner with more than 1,100 artists and further develop its infrastructure and marketing capabilities, potentially impacting the market for independent music rights.

Cambodian Tycoon Arrested After BBC Exposes Online Scam Ring

Cambodian businessman Kuong Li, implicated in a BBC Eye investigation into Southeast Asian online scam compounds, has been arrested and charged with multiple offenses including fraud and money laundering related to activities since 2019. Li's Huang Le compound in Sihanoukville was featured in the report, which detailed allegations of human trafficking and forced labor, potentially impacting Cambodia's reputation and investment climate. The arrest reflects increased scrutiny on organized online fraud operations in the region.

Blue Origin Challenges Starlink with 5,400 Satellite Plan

Blue Origin, backed by Jeff Bezos, is entering the satellite internet market with TeraWave, a planned constellation of over 5,400 satellites targeting data centers, businesses, and governments with potential speeds of 6 terabits per second. This move positions Blue Origin as a competitor to Elon Musk's Starlink, which currently dominates the market, and Amazon's own Project Kuiper, which has plans for over 3,000 satellites. While TeraWave aims for high-speed data transfer, its focus differs from Starlink and Kuiper, which target individual consumers.

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Maduro Abduction: Can Cuba's Economy Weather the Fallout?

3 min

Business2h ago

Maduro Abduction: Can Cuba's Economy Weather the Fallout?

Cuba's economy faces increased uncertainty following a US military operation in Venezuela, potentially disrupting crucial oil and financial support. The island nation, already struggling with supply shortages and power outages, relies heavily on Venezuelan aid, making the future of its economic stability precarious. The loss of Venezuelan support could exacerbate existing economic challenges for Cuba.

Bezos' Blue Origin Fires Shot Across Musk's Starlink Bow

Multiple news sources confirm that Jeff Bezos' Blue Origin plans to launch over 5,400 satellites for its TeraWave network by 2027, aiming to provide high-speed internet to businesses and governments, directly challenging Elon Musk's Starlink. While TeraWave boasts potentially faster speeds, it will have fewer satellites than Starlink, and Amazon's Project Kuiper will also compete in the satellite internet market, focusing on individual customers.

Def Jam China Tunes into Chengdu, Migu for "Guofeng Hip-Hop

Def Jam Recordings, under Universal Music Greater China, has launched Def Jam Recordings China in Chengdu, aiming to capitalize on the country's burgeoning hip-hop scene. The move extends the iconic label's reach into the Chinese market, focusing on developing local talent and "Guofeng Hip-Hop" through a partnership with Migu, leveraging Chengdu's status as China's hip-hop capital. This launch is part of Universal Music Group's broader strategy for growth in the Greater China market.

Starmer Leads UK Business Delegation to China Next Week

UK Prime Minister Keir Starmer is reportedly leading a delegation of British business leaders, including representatives from BP, HSBC, and Rolls-Royce, to China next week, signaling a potential thaw in UK-China relations. This visit follows the UK government's approval of a new Chinese embassy in London and comes amid efforts to revitalize the UK-China CEO council, potentially impacting trade and investment flows between the two nations. The trip also follows meetings in Beijing in November between national security advisor Jonathan Powell and China's top diplomat, Wang Yi.

Bezos' Blue Origin Challenges Starlink with TeraWave Satellite Network

Blue Origin, backed by Jeff Bezos, is entering the satellite internet market with TeraWave, a planned constellation of over 5,400 satellites targeting data centers, businesses, and governments. This move challenges Elon Musk's Starlink, which currently dominates the market, and Amazon's own Project Kuiper, though TeraWave aims for significantly faster data transfer speeds of up to 6 terabits per second. While ambitious, Blue Origin faces the challenge of catching up to Starlink's established presence and Amazon's existing 180 satellites in orbit with plans for over 3,000.

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