The Federal Reserve cut interest rates for a third consecutive meeting amidst deep internal divisions, while the US central bank also plans a $40 billion debt-buying scheme to address money market strains, and **European Central Bank (ECB) President Lagarde** anticipates lifting growth forecasts for the Eurozone economy.

• US central bank to launch $40bn debt-buying scheme after money market strains — Financial Times -
• The Fed Cut Rates Again but Deep Divisions Cloud Path Ahead — The New York Times Business -
• Federal Reserve decision as it happened: Fed cuts rates to lowest level in three years — Financial Times -

• The big (duration) short — Financial Times -
• Inflation and interest rates tracker: see how your country compares — Financial Times -
• Takeaways from the Fed meeting. — The New York Times Business -
• Fed delivers rate cut with hawkish guidance — Financial Times -
• A divided Fed is meeting with incomplete data. — The New York Times Business -
• What the Fed’s Rate Decision Means for Loans, Credit Cards, Mortgages and More — The New York Times Business -
• How to Read the Fed’s ‘Dot Plot’ Projections Like a Pro — The New York Times Business -
• Trump’s Search for Powell’s Replacement Adds to Cacophony Around Interest Rate Decision — The New York Times Business -
• Why Markets Are Getting Anxious About the Fed — The New York Times Business -
• Lagarde says ECB will probably lift growth forecasts — Financial Times -
• FirstFT: ICE’s dragnet data operation — Financial Times -
• More good(ish) news on employment — Financial Times -
• Germany sees high hurdles to winning ECB presidency — Financial Times -
• Trump tries to tackle voters’ cost-of-living concerns at Pennsylvania rally — Financial Times -
• Trump to pit Hassett against trio of Fed chair finalists — Financial Times -

Oracle faced a stock slide due to a significant increase in AI data center spending, while Synopsys projects double-digit growth driven by its Ansys acquisition, and US state attorneys-general are demanding better AI safeguards amid concerns over technology transfers to China, including Nvidia chip exports and Taiwan's national security laws protecting TSMC trade secrets.

• Oracle shares slide on $15bn increase in data centre spending — Financial Times -
• Synopsys Targets Double-Digit Growth Following Ansys Acquisition — Wall Street Journal -
• Oracle Shares Tumble as AI Spending Outruns Returns — Wall Street Journal -

• Opinion | Trump Says Chips Ahoy to Xi Jinping — Wall Street Journal -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -
• Adobe Expects Double-Digit Recurring Revenue Growth Next Year — Wall Street Journal -
• US state attorneys-general demand better AI safeguards — Financial Times -
• Bezos and Musk Race to Bring Data Centers to Space — Wall Street Journal -
• Taiwan Invokes National Security Law to Protect TSMC Trade Secrets — The New York Times Business -
• Fervo Energy Raises $462 Million, Lands Google as Investor — Wall Street Journal -
• Silicon Valley Is Racing to Make Critical Minerals—and Blunt China’s Dominance — Wall Street Journal -
• Chip Company Plotted to Send Technology to China, Ex-C.E.O. Says — The New York Times Business -
• Trump Eases Limits on Nvidia Exports to China at ‘Critical Moment’ — The New York Times Business -
• China adds domestic AI chips to official procurement list for first time — Financial Times -
• Hinge CEO Leaves to Start an AI-Driven Dating App — Wall Street Journal -

Major corporate leadership changes include Coca-Cola naming a new CEO and Harley-Davidson making executive shifts, alongside a fierce battle for Warner Bros. Discovery involving bids from Netflix and Paramount, and Coupang's CEO resignation following a massive data breach.

• Coca-Cola Names Next CEO — Wall Street Journal -
• Harley-Davidson Makes Executive Changes Under New CEO — Wall Street Journal -
• Opinion | How to Save Corporate Governance From Passive Investing — Wall Street Journal -

• Trump Says CNN Should Be Sold as Part of Any Megadeal — Wall Street Journal -
• DealBook Summit: Reckoning with the ‘New Normal’ — The New York Times Business -
• A DealBook Task Force Grapples With Media Trust and Biases — The New York Times Business -
• From the DealBook Summit: Industry Leaders Share Their Insights — The New York Times Business -
• DealBook Summit: Education Leaders Feel the Weight of Preparing Graduates for a New World — The New York Times Business -
• Investors Bet That a Higher Bid for Warner Is Coming — Wall Street Journal -
• DealBook Summit: In a Tumultuous Era, Global Alliances and Practices Are Upended — The New York Times Business -
• DealBook Summit: Business Executives Share Tips for Leadership — The New York Times Business -
• Nissan’s U.S. Boss Says the Automaker Lost Its Way — Wall Street Journal -
• Paramount’s Warner Bros bid draws Gulf investors into rare alliance — Financial Times -
• Trump Seeks to Expand His Powers by Taking a Role in Warner Bros. Battle — The New York Times Business -
• Netflix and Paramount Battle for Warner Bros. — Have We Seen This Show Before? — The New York Times Business -
• Tony Dokoupil Is Named Anchor of ‘CBS Evening News’ — The New York Times Business -
• The Battle for Warner Bros. Discovery — The New York Times Business -
• Tony Dokoupil Will Be the New Face of ‘CBS Evening News’ — Wall Street Journal -
• Chernin Group Invests in ‘Romantasy’ Publisher Entangled — Wall Street Journal -
• Coupang CEO Resigns Over Data Breach in South Korea — Wall Street Journal -
• Aegon Plans to Move to U.S., Rebrand as Transamerica — Wall Street Journal -
• Coupang C.E.O. Resigns in Fallout Over Massive South Korean Data Breach — The New York Times Business -
• South Korean CEO quits after huge online data breach — Financial Times -
• Netflix’s WBD bid is an antitrust drama without a villain — Financial Times -
• ‘We’re all in’: How Jamie Dimon lured a Warren Buffett protégé to JPMorgan — Financial Times -
• Massive Debt-Fueled Deals, From Warner to Electronic Arts, Are Back on Wall Street — Wall Street Journal -
• David Ellison lobbies Warner Bros shareholders to desert Netflix — Financial Times -

Geopolitical tensions escalated with the US seizing an oil tanker off Venezuela and Trump pledging intervention in the Thailand-Cambodia conflict, while Trump's tariffs continue to strain US farmers and manufacturers, and the IMF urges China to address economic imbalances impacting global trade.

• US seizes oil tanker off coast of Venezuela — Financial Times -
• U.S. Plans to Scrutinize 5 Years of Social Media History for Foreign Tourists — The New York Times Business -
• Argentina raises $1bn in dollar debt sale as Milei plots return to global markets — Financial Times -

• Zelenskyy talks Ukraine postwar plan with Bessent, Kushner and Fink — Financial Times -
• DealBook Summit: In a Tumultuous Era, Global Alliances and Practices Are Upended — The New York Times Business -
• US to require social media disclosure for visa-waiver requests — Financial Times -
• UK says Aukus pact must now focus on delivery after US review — Financial Times -
• Lebanese PM: Our national reset is working — but we need help — Financial Times -
• I.M.F. Prods China, Gently, on Its Weak Currency — The New York Times Business -
• IMF calls on China to fix economic ‘imbalances’ — Financial Times -
• Saudi-UAE tensions rise over Yemen clashes — Financial Times -
• Trump’s tariffs intensify strain on US farmers, Deere warns — Financial Times -
• U.S. Manufacturers Slow Orders Ahead of Supreme Court Tariff Ruling — Wall Street Journal -
• Trump pledges to intervene as Thailand-Cambodia conflict flares — Financial Times -
• US-Indonesia trade deal at risk of collapse — Financial Times -
• Trump Defends Tariffs Amid Growing Concerns Over Affordability — The New York Times Business -
• ‘Vital’ EU-Mercosur trade deal hangs in the balance days before deadline — Financial Times -
• EU races to bypass Orbán on Russian assets before summit — Financial Times -
• Trump’s immigration data dragnet — Financial Times -
• CMA CGM to step up Red Sea journeys as more as Houthi tensions ease — Financial Times -
• On the farm with former US deputy secretary of state Kurt Campbell — Financial Times -
• The Maga push overturning US policy in the Balkans — Financial Times -

The UK government faces setbacks on workers' rights legislation and plans police force reforms, while Chancellor Reeves reserves the right for future fiscal action, and Labour navigates Brexit stances and new peer appointments.

• UK government suffers fresh setback to flagship workers’ rights legislation — Financial Times -
• Ministers poised to push for reform of police forces in England and Wales — Financial Times -
• Iceland boss included in 25 new Labour peers — Financial Times -

• Return to EU customs union would ‘unravel’ UK trade deals, Starmer warns — Financial Times -
• Porsche’s works council warns of further job cut threats — Financial Times -
• Reeves reserves right to take action ‘at any point’ to support public finances — Financial Times -
• FCA boss promises more pro-growth measures in letter to Starmer — Financial Times -
• Will prime property’s post-Budget bounceback last? — Financial Times -
• William Hill owner Evoke explores sale after Budget tax hit — Financial Times -
• Hong Kong bankers warned to improve quality of IPO paperwork — Financial Times -
• UK Politics as it happened: Reeves reserves right to ‘take action’ on taxes ‘at any point’ — Financial Times -
• Channel 4 appoints Sky executive as new chief — Financial Times -
• Neither Starmer nor Badenoch wants to reverse Brexit — Financial Times -
• Berenberg made largest unlawful UK political donation with £300,000 for Tories — Financial Times -
• Robert Tchenguiz hopes Truss-fronted club will help pay off debt to Reubens — Financial Times -
• What is wrong with the UK’s Ajax armoured vehicle? — Financial Times -
• Home Office lacks clear data on a third of UK asylum claimants from 2023 — Financial Times -
• UK watchdog bans social media ads promising ADHD and autism treatment — Financial Times -

Chewy's profit and revenue rose significantly with growth in vet care and paid memberships, while Instacart shares fell amid reports of experimental price testing, and the biotech sector is experiencing a rally driven by M&A activity.

• Basic Materials Roundup: Market Talk — Wall Street Journal -
• Chewy Profit, Revenue Up as Vet Care, Paid Memberships Gain Steam — Wall Street Journal -
• TUI Shares Fall on Light Winter Bookings Despite Earnings Growth — Wall Street Journal -

• Biotech rally mints huge profits for hedge funds — Financial Times -

US Gulf of Mexico oil leases saw significant bids under the Trump administration, while Chevron's CEO eyes potential in biofuels and geothermal energy, and Google invests in Fervo Energy, even as hydrogen projects face reality checks and a billion-barrel oil glut forms at sea.

• The hidden cost of ultra-cheap solar power — Financial Times -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -
• First US Gulf of Mexico oil leases auction under Trump receives $372mn in bids — Financial Times -

• Chevron CEO Sees Growing Potential in Biofuels and Geothermal Energy — Wall Street Journal -
• Fervo Energy Raises $462 Million, Lands Google as Investor — Wall Street Journal -
• A Billion-Barrel Oil Glut Is Forming at Sea — Wall Street Journal -
• Hydrogen dreams meet reality as oil and gas groups abandon projects — Financial Times -

Holiday spending reflects an uneven economy with strong sales at discount and high-end retailers, while Brussels initiated a foreign subsidy investigation against Temu, and US authorities plan to scrutinize social media history for foreign tourists, raising data privacy concerns.

• A Surrogacy Firm Told Parents-to-Be Their Money Was Safe. Suddenly, It Vanished. — The New York Times Business -
• FDA Expands Covid Vaccine Inquiry to Adult Deaths — The New York Times Business -
• As the Price of Beef Soars, Restaurants Are in ‘Code Red’ Mode — The New York Times Business -

• America’s unfortunate backward step on vaccines — Financial Times -
• Opinion | An IRS Reform That Could Curb Lawless Nonprofits — Wall Street Journal -
• Holiday spending shows effects of an uneven economy. — The New York Times Business -
• Holiday spending shows effects of an uneven economy — The New York Times Business -
• Brussels raids Temu in foreign subsidy investigation — Financial Times -
• Casinos could deal New York’s poker dens a losing hand — Financial Times -
• EU finance ministers seek cull of banking and markets laws — Financial Times -
• Instacart Shares Fall on Report of Experimental Price Testing — Wall Street Journal -
• Reeves warns of lost opportunities if UK’s female founders are overlooked — Financial Times -
• YouTube TV to Offer Pared-Down, Lower-Priced Channel Bundles — Wall Street Journal -
• 401(k)s Mint ‘Moderate Millionaires’ — Wall Street Journal -
• Brazil’s lower house passes bill to slash Bolsonaro’s jail time — Financial Times -
• Singapore’s latest antisocial scourge is pickleball — Financial Times -
• Trump Administration Rules Threaten Nobel Prizes Won by Immigrants — The New York Times Business -
• Social-Media Ban Imposes Brave New World on Australian Teens — Wall Street Journal -
• Meloni’s party seeks to double limit for cash payments in Italy — Financial Times -
• How Luxembourg tamed the ‘monster’ of a unified EU market — Financial Times -
• UK boosts wastewater tests to raise resilience to germs — Financial Times -
• Aid gaps force rethink on tuberculosis programmes — Financial Times -
• Fears for HIV programmes’ future sparked by funding retreat — Financial Times -
• Insect-borne diseases expand threat despite research — Financial Times -
• Explainer: Chagas disease spreads to richer countries — Financial Times -
• The world is losing immunity to superbugs, but we can rebuild it — Financial Times -
• Why Trump Accounts, as Currently Planned, Risk Leaving Out Many Children — The New York Times Business -