Multiple sources report that Jan Philipp Burgard, top editor at Axel Springer's Welt, resigned following an internal investigation into alleged inappropriate behavior at a company event after a media inquiry. Burgard, who couldn't recall specifics due to alcohol consumption, is being replaced by Helge Fuhst, a top editor from German public broadcaster Ard.
Prediction markets like Kalshi and Polymarket are experiencing explosive growth, with nearly $12 billion traded in December, a 400% year-over-year increase, driven by bets on diverse events from political outcomes to pop culture. These platforms, initially popular for political wagering, are now integrated into mainstream media through partnerships with outlets like CNN and CNBC, signaling a significant shift in how information and speculation intersect with financial markets. This surge reflects a growing trend of using prediction markets to gauge sentiment and forecast events across various sectors.
Former Trump advisor Gary Cohn, now a top tech executive at IBM, stated Greenland will remain independent, despite past interest from the former president. Cohn highlighted bipartisan consensus in the U.S. and suggested potential resource extraction agreements for Greenland's rare earth minerals as a more viable path than acquisition, given increasing strategic importance of the Arctic.
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.
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.
Experian, a credit-rating service, is facing scrutiny after reportedly encouraging a customer with a prior £10,000 credit card debt to take on more high-interest credit card offers, despite her nearing debt freedom. This practice, highlighted by BBC Panorama, raises concerns about the potential harm to vulnerable consumers already struggling with repayments, especially given that approximately 35 million people in the UK hold credit cards with APRs potentially exceeding 60%. Experian claims it is developing a process to identify vulnerable customers and cease marketing to them.
A new study from the Scripps Institution of Oceanography reveals the global cost of greenhouse gas emissions is nearly double previous estimates after including ocean damage. Factoring in losses to coral reefs, fisheries, and coastal infrastructure adds nearly $2 trillion annually to the social cost of carbon, significantly impacting climate finance and economic decision-making. This revised assessment highlights the critical economic role of oceans in climate change calculations.
Dow futures plummeted 400 points (0.81%) following President Trump's announcement of tariffs up to 25% on several European nations starting February 1st, impacting global markets and raising concerns about transatlantic relations. Despite the sell-off, some analysts view the move as a negotiating tactic, hoping for de-escalation at Davos and a limited long-term impact on financial markets.
AI agents are rapidly permeating core business operations, promising significant ROI across areas like lead generation and supply chain optimization, with potential for thousands of agents per mid-sized firm. However, a Boston Consulting Group study reveals that while most companies see minimal financial gains from AI investments, leading firms achieve five times the revenue increase and three times the cost reduction, highlighting a critical need for strategic alignment and infrastructure readiness to avoid "agentic chaos." This underscores the importance of data management and governance to realize the full economic benefits of AI.
China's housing market crash, marked by plummeting new home sales to a 15-year low and declining apartment values, is significantly impacting economic growth despite a record $1.19 trillion trade surplus in 2025. While the National Bureau of Statistics reports a steady 5% economic growth for the year, driven by exports, weak retail sales indicate dampened consumer spending due to real estate woes. This real estate downturn poses challenges for local governments dependent on property revenue.
UK wage growth slowed to 4.5% between September and November, driven by a five-year low in private sector pay increases, while public sector wages jumped due to earlier-than-usual pay rises. Simultaneously, company payrolls decreased by 135,000 over the same period, particularly impacting retail and hospitality sectors, signaling a potential easing of inflationary pressures that could influence the Bank of England's interest rate decisions.
Dow Jones futures plummeted 401 points (0.81%) following President Trump's announcement of tariffs ranging from 10% to 25% on several European nations, impacting global markets and raising concerns about transatlantic relations. Analysts suggest this move is a negotiating tactic, but the tariffs, set to begin February 1st, have already weakened the dollar and spurred a sell-off in European and Asian equities. The market now looks to Davos for potential de-escalation.
Asus Chairman Jonney Shih announced the company will halt smartphone production indefinitely, pivoting towards AI-driven products like robots and smart glasses. This decision follows lackluster performance in the mobile market, particularly with the Zenfone line, despite some success in the gaming niche with the ROG Phone. The move signals a strategic shift for Asus as it seeks growth opportunities beyond its struggling smartphone division.
Gold and silver prices surged to record highs of $4,689.39 and $94.08 per ounce, respectively, as investors sought safe-haven assets amid escalating geopolitical tensions spurred by President Trump's tariff threats against eight European countries. The proposed tariffs, initially at 10% but potentially rising to 25%, are in response to opposition to a Greenland deal, triggering concerns of a $93 billion EU retaliatory package and contributing to a more than 60% rise in gold prices over the past year. This market reaction reflects broader anxieties about global tensions and economic uncertainty.
Amidst widespread water outages affecting up to 30,000 properties served by South East Water, Environment Secretary Emma Reynolds has publicly criticized the potential doubling of CEO David Hinton's bonus, deeming it inappropriate given the company's poor performance, ongoing regulatory investigations, and repeated failures in communication during the crisis. These developments, reported across multiple news outlets, have intensified scrutiny of executive compensation in essential services and fueled calls for Hinton's resignation.
Former Trump advisor Gary Cohn, now a top tech executive at IBM, stated Greenland will remain independent, despite past interest from the former president. Cohn highlighted bipartisan consensus in the US and suggested Trump's interest stemmed from Greenland's critical mineral resources, potentially influencing future US negotiations and military presence in the region. His comments underscore the intersection of geopolitical strategy, resource acquisition, and technological development in the Arctic.
Asus Chairman Jonney Shih announced the company is indefinitely halting its smartphone business, including the Zenfone and ROG Phone lines, due to limited market traction. This strategic shift will allow Asus to concentrate on developing AI-driven products like robots and smart glasses, moving away from a mobile phone market where its support and update policies lagged behind competitors. While not a permanent exit, Asus will adopt a wait-and-see approach, impacting the gaming phone niche where the ROG Phone held a prominent, albeit expensive, position.
Under CEO Raj Subramaniam, FedEx is navigating complex global trade challenges, including an estimated $1 billion hit from tariffs, while aiming to increase revenue. Despite these headwinds, the logistics giant, which handles 17 million packages daily across 200+ countries with its vast network of 700 planes and 200,000 trucks, projects a positive profit outlook. Subramaniam, succeeding founder Fred Smith, is focused on leveraging technology like drones, robots, and AI to maintain FedEx's competitive edge in the evolving logistics landscape.
Investcorp's Executive Chairman, Mohammed Alardhi, anticipates an improving IPO market in the Gulf, citing the region's compelling long-term investment potential. This positive outlook suggests increased capital market activity and potential opportunities for companies seeking public listing in the area. The comments were made during a Bloomberg Television interview at Davos.
China's economy achieved its 2025 growth target of "around 5%" despite domestic challenges and US tariffs, fueled by record exports resulting in a $1.19 trillion trade surplus. However, growth slowed to 4.5% in the final quarter, and the nation continues to grapple with a property crisis and declining house prices, impacting domestic investment and consumer spending.
