Concerns mount over Trump administration attacks on the Federal Reserve, with JPMorgan's CEO Jamie Dimon warning of inflation risks and global central bankers rallying around Chair Jay Powell amidst a criminal investigation, while **December's CPI report showed inflation holding steady at 2.7%**.

• Dimon warns Trump administration’s attacks on Fed could boost inflation — Financial Times -
• Opinion | How to Shrink Credit for the Poor — Wall Street Journal -
• Blowback Builds Over Criminal Investigation of Powell — The New York Times Business -

• Opinion | Now Lawfare Engulfs the Fed — Wall Street Journal -
• Powell sent senators details on $2.5bn Fed project following testimony — Financial Times -
• In a Risky Gambit, Trump Tries Brute Force to Lower Prices — The New York Times Business -
• In a Risky Gambit, Trump Tries Brute Force to Lower Prices — The New York Times Business -
• CPI Report Shows Inflation Remained Steady at 2.7% in December — The New York Times Business -
• JPMorgan Made Less Money Last Year, Facing Pressure on Multiple Fronts — The New York Times Business -
• JPMorgan investors find out who their friends are — Financial Times -
• US inflation stays at 2.7% in December — Financial Times -
• What to know about the report. — The New York Times Business -
• CPI Report Shows Food Prices Rose Sharply in December — The New York Times Business -
• Inflation Ended 2025 on Subdued Note — The New York Times Business -
• JPMorgan Profit Falls on Investment-Banking Miss, Apple Card Charge — Wall Street Journal -
• BNY Profit Rises, CEO Calls Pressure on Fed ‘Counterproductive’ — Wall Street Journal -
• December’s CPI inflation firms up January hold — Financial Times -
• The backlash against Trump’s criminal probe into Powell — Financial Times -
• Global Central Bankers Rally Around Fed Chair Powell Amid Criminal Investigation — The New York Times Business -
• The Powell Defense Grows — The New York Times Business -
• Why haven’t tariffs had a bigger impact on prices? — The New York Times Business -
• The cost of taking orders from Trump — Financial Times -
• FirstFT: Republican backlash against Powell investigation grows — Financial Times -
• Central bank chiefs ‘stand in full solidarity’ with Jay Powell — Financial Times -
• U.S. Small-Business Confidence Rises Amid Brighter Outlook Expectations — Wall Street Journal -
• Do markets care about Fed independence? — Financial Times -
• Lawfare comes for the dollar with attack on the Fed — Financial Times -
• DoJ’s probe into Powell galvanises Fed leaders to repel Trump attacks — Financial Times -
• A Top Fed Official Conveys Little Urgency for Immediate Rate Cuts — The New York Times Business -
• He’s Their Daddy. Meme-Stock Traders Rush to Powell’s Defense. — Wall Street Journal -
• Fed Changes Course and Takes On Trump’s Political Fight — The New York Times Business -

Trump's administration is actively shaping foreign policy, with new tariffs on countries doing business with Iran, preparations for new Gaza leadership, and progress on a trade deal with Taiwan that includes a TSMC manufacturing commitment, alongside US senators proposing a bill against occupying NATO territories like Greenland.

• Trump says ‘help is on its way’ for Iranian protesters — Financial Times -
• US senators introduce bill to stop military from occupying Nato territories — Financial Times -
• Amazon pushes suppliers for cuts ahead of Supreme Court tariff ruling — Financial Times -

• Dispatch from Tehran: the week Iranians revolted against the regime — Financial Times -
• Trump administration prepares to unveil new Gaza leadership — Financial Times -
• Greenland and Denmark reject US pressure ahead of Washington trip — Financial Times -
• Economic pressure could hurt Iran more than a military strike — Financial Times -
• Ukraine’s G7 allies to press Trump in crunch talks at Davos — Financial Times -
• How to de-risk from America — Financial Times -
• Russia hits Ukrainian energy facilities as winter takes hold — Financial Times -
• The Battle Over Who Runs the Panama Canal Ports Is About to Be Decided — Wall Street Journal -
• What are Trump’s options in Iran? — Financial Times -
• Venezuela’s Oil Riches Are Years Off, but Winners and Losers Will Emerge — The New York Times Business -
• Trump announces 25% tariff on countries ‘doing business’ with Iran — Financial Times -
• Volkswagen Brand Deliveries Fall on China Woes and U.S. Tariffs — Wall Street Journal -
• Greenland calls for ‘Nato framework’ protection from Trump’s threats — Financial Times -
• Top US commander says China still exerting military pressure in Asia — Financial Times -
• Trump Administration Nears Trade Deal With Taiwan — The New York Times Business -
• Indian exports fail to reap benefits of trade deal spree — Financial Times -

Major corporate shifts include Bain Capital naming David Gross as sole leader, Netflix preparing an all-cash offer for Warner Bros, and Delta Airlines projecting boosted profits from premium travel demand, while JPMorgan reports decreased earnings and Saks is navigating bankruptcy under new leadership.

• Bain Capital names David Gross sole leader of private capital giant — Financial Times -
• Netflix preparing all-cash offer for Warner Bros to fend off Paramount — Financial Times -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -

• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -
• Netflix Preparing to Make Warner Bid All-Cash — Wall Street Journal -
• Former Neiman Marcus Chief Is Picked to Lead Saks Through Bankruptcy — Wall Street Journal -
• Gourmet Magazine Is Back, as Unsanctioned New Media — The New York Times Business -
• AI Startup Sued by Palantir Says Company Wants to ‘Scare Others’ From Leaving — Wall Street Journal -
• Delta Expects Premium Fliers to Boost Its Profit This Year — Wall Street Journal -
• Boeing Shipped 63 Jets in December, 600 in 2025 — Wall Street Journal -
• Boeing beats Airbus order numbers for the first time this decade — Financial Times -
• Beretta takes aim at rival gunmaker Sturm Ruger with threat of proxy fight — Financial Times -
• Delta expects earnings jump amid ‘premium arms race’ in upmarket travel — Financial Times -
• Delta Offers Optimistic Outlook as Travelers Continue to Splurge — The New York Times Business -
• Elon Musk’s $1tn mega-bonus is now a meme — Financial Times -
• U.S. Bancorp to Buy BTIG for Up to $1 Billion — Wall Street Journal -
• Carmakers find workaround for Nexperia chip shortage — Financial Times -
• Fortnum & Mason to rebuild European sales on hopes of new UK-EU trade deal — Financial Times -
• Sika Shares Drop After Guidance Cut — Wall Street Journal -
• Netflix Wanted to Reinvent Live TV. It Hasn’t Been Easy. — Wall Street Journal -
• Lynas Could Gain From China’s Curbs on Rare Earths Supply to Japan — Wall Street Journal -
• Europe’s corporate powerbroker in Spain — Financial Times -
• Job losses in European car parts sector top 100,000 in two years — Financial Times -
• Local brands weaken European luxury groups’ grip in US and China — Financial Times -
• First Brands creditors claim ‘two-man’ firm enabled founder’s brother’s fee windfall — Financial Times -
• Baillie Gifford’s move to Foster-designed HQ delayed again — Financial Times -
• Dina Powell McCormick appointed president and vice-chair at Meta — Financial Times -
• AbbVie Strikes $100 Billion Investment Deal With Trump, Will Lower Medicaid Prices — Wall Street Journal -
• UK retail spending rose at lowest pace for 7 months in December — Financial Times -

Concerns are rising over data centers driving up electricity costs, with Microsoft pledging to pay more for power amidst a backlash, while Orsted's US wind farm projects are set to resume work following a judge's ruling, and China is leading the AI race outside the West.

• Opinion | They’re Coming for Our Data Centers — Wall Street Journal -
• Microsoft vows to ‘pay its way’ as it seeks to defuse data centre backlash — Financial Times -
• Pentagon invests $1bn in US missile motor unit of defence group L3 Harris — Financial Times -

• Orsted Moves to Save Its U.S, Wind Farm Projects — The New York Times Business -
• Microsoft Pledges to Pay More for Electricity, Drawing Praise From Trump — The New York Times Business -
• Do not wait around for nuclear fusion — Financial Times -
• Orsted Shares Jump as U.S. Judge Rules Work Can Resume at Revolution Wind Project — Wall Street Journal -
• Ørsted shares rally after US court lifts block on key wind farm project — Financial Times -
• European Gas Prices Climb on Heating Demand, Iran Risks — Wall Street Journal -
• How the west fell behind in the green tech race — Financial Times -
• Microsoft warns that China is winning AI race outside the west — Financial Times -
• America’s Biggest Power Grid Operator Has an AI Problem—Too Many Data Centers — Wall Street Journal -
• Here in Midland, Texas, the Last Thing Anyone Wants Is Cheap Venezuelan Oil — Wall Street Journal -

The UK government is planning a substantial railway upgrade in northern England, while Starmer faces leadership pressure and his party drops mandatory digital ID plans, as the Scottish government introduces new taxes and South East Water bosses are recalled by MPs over service outages.

• Reeves to unveil £45bn railway upgrade in northern England — Financial Times -
• Starmer set to drop plans to make digital ID mandatory for UK workers — Financial Times -
• UK fiscal rules do ‘very little’ to fix public finances, says former watchdog — Financial Times -

• Scottish government to impose ‘mansion tax’ and private jet levy — Financial Times -
• South East Water bosses recalled by MPs over outage — Financial Times -
• Starmer under pressure amid growing talk of leadership challenge — Financial Times -
• Starmer signals tougher stance on children’s social media access — Financial Times -
• Ministers to announce new rail link between Birmingham and Manchester — Financial Times -
• Distressed debt buyer applies to put UK broadband operator into administration — Financial Times -
• Nadhim Zahawi joining Reform shrinks the Farage ‘fear’ factor — Financial Times -
• Openreach needs to make full fibre broadband work — Financial Times -
• How the UK ended up building the world’s most expensive railway — Financial Times -

Obamacare enrollment has seen a significant drop of 1.4 million due to expiring subsidies, while bird flu viruses raise mounting scientific concerns globally, and the rollout of psychedelic medicine faces bumpy access issues despite psilocybin-assisted therapy being legal in several states.

• Initial Obamacare Enrollment Drops by 1.4 Million as Expiring ACA Subsidies Drive Up Premiums — The New York Times Business -
• Bird Flu Viruses Raise Mounting Concerns Among Scientists — The New York Times Business -
• ’Shrooms Lead the Pack in Psychedelic Medicine, but Rollout Is Bumpy — The New York Times Business -

• ADHD patients stripped of NHS prescriptions under crackdown — Financial Times -

Executives of subprime auto lender Tricolor have pleaded not guilty to charges stemming from its collapse, while the Clintons refuse to testify in the Jeffrey Epstein investigation, and a massive bank heist in Germany saw millions in valuables ransacked.

• Tricolor executives plead not guilty to charges stemming from collapse — Financial Times -
• Container ship captain ‘did nothing’ to prevent North Sea collision, court hears — Financial Times -
• Clintons refuse to testify to oversight committee investigating Jeffrey Epstein — Financial Times -

• Forty hours and thousands of boxes ransacked: inside Germany’s latest bank heist — Financial Times -
• Labor Secretary’s Aides Placed on Leave in Misconduct Investigation — The New York Times Business -
• Target’s Stores Become an ICE Battleground in Hometown Minneapolis — Wall Street Journal -