India and the EU sealed a major trade deal, while Trump's tariff threats continued against South Korea and Canada; Canada's oil industry saw thriving sales to China amidst growing concerns over US influence in Europe and the Arctic.

• Italy clarifies ICE’s role during Winter Olympics as public backlash grows — Financial Times -
• UK energy company urges Starmer to ‘embrace’ Chinese technology — Financial Times -
• Argentina’s Milei clashes with billionaire CEO over protectionism claims — Financial Times -

• Canada’s Move to Import Cheap Chinese EVs Is ‘Slippery Slope,’ GM CEO Says — Wall Street Journal -
• FirstFT: EU and India clinch trade deal to slash €4bn of tariffs on bloc’s exports — Financial Times -
• Opinion | Venezuela Can Learn From an Iraq Mistake — Wall Street Journal -
• Iran delegates emergency powers as threat of conflict with US looms — Financial Times -
• Netanyahu’s government hosts antisemitism conference with European far right — Financial Times -
• What to do when no relationship is special — Financial Times -
• Canada’s oil industry thrives as sales to China soar — Financial Times -
• Top UK universities increase reliance on China for overseas recruitment — Financial Times -
• Venezuelan insiders and exiles tussle in Madrid — Financial Times -
• The Chinese company that went from contract shoemaker to betting on Puma — Financial Times -
• Puma Brings in Chinese Sportswear Maker as Top Shareholder — Wall Street Journal -
• As Europe’s Reliance on U.S. Natural Gas Grows, So Does Trump’s Leverage — The New York Times Business -
• In Trump’s Shadow, India and the European Union Expand Trade Ties — The New York Times Business -
• EU and India seal trade pact — Financial Times -
• EU set to clinch long hoped-for trade deal with India — Financial Times -
• Tesla Ends 2025 With Lower Sales in Europe, While China’s BYD Powers On — Wall Street Journal -
• Government plans to tighten scrutiny of Chinese influence in UK — Financial Times -
• US links security guarantees for Ukraine to peace deal ceding territory — Financial Times -
• Israel to seek new security deal from US, official says — Financial Times -
• Trade war pays an unlikely dividend for some UK retailers — Financial Times -
• Can anything halt Latin America’s lurch to the right? — Financial Times -
• How Nato is preparing for war in the Arctic — Financial Times -
• Mike Pompeo-linked mining group pursuing up to 10 copper deals — Financial Times -
• EU to announce ‘mother of all’ Indian trade deals — Financial Times -

President Trump's economic policies faced scrutiny in Iowa as farmers felt pain from tariffs, while his administration made moves on Medicare spending and rare earth sectors, causing health insurer stocks to plummet and the dollar to slide.

• As Trump Promotes Economy in Iowa, Many Residents Feel Pain — The New York Times Business -
• Dollar slides as Trump says he is not concerned with its recent decline — Financial Times -
• Opinion | Mikie Sherrill’s New Jersey Power Play — Wall Street Journal -

• Trump backs Noem as pressure mounts over deadly deportation raids — Financial Times -
• US health insurer stocks plummet on Trump Medicare spending plan — Financial Times -
• US health insurer shares fall on proposal to cut rise in Medicare payments — Financial Times -
• Fed, Signaling Little Urgency, Prepares to Pause on Rate Cuts — The New York Times Business -
• ICE backlash intensifies amid immigration crackdown in Minneapolis — Financial Times -
• Trump, the Fed and Newton’s third law — Financial Times -
• FirstFT: White House signals shift over immigration crackdown — Financial Times -
• How a killing on ‘Eat Street’ forced Trump to change course — Financial Times -
• Carney, Trump and the power of a good speech — Financial Times -
• Europe is finally waking up to the Trump threat — Financial Times -
• Trump to raise tariffs on South Korea to 25% — Financial Times -
• Trump Administration Takes Another Stake in Rare Earth Sector — The New York Times Business -
• Trump Says He Will Raise Tariffs on South Korea to 25% — The New York Times Business -

Major companies reported varied results, with Deere opening new facilities, Texas Instruments projecting growth, and Boeing lifting sales on increased deliveries, while GM announced a significant share buyback despite EV retreat.

• Deere to Open Two New U.S. Facilities — Wall Street Journal -
• Texas Instruments Says Data Centers, Industrial Recovery Driving Growth into First Quarter — Wall Street Journal -
• Boeing’s Stepped-Up Plane Deliveries Lift Sales — Wall Street Journal -

• PPG Industries Logs Higher Quarterly Revenue on Higher Prices, Volume — Wall Street Journal -
• GM Shares Jump on Earnings Beat, $6 Billion Share Buyback — Wall Street Journal -
• Companies Reveal Big Mystery: Where They Pay Taxes and How Much — Wall Street Journal -
• CD&R targets $6bn Indicor exit in drive to return cash to investors — Financial Times -
• JetBlue Posts Wider Loss on Macro Uncertainty, Sees Positive 2026 — Wall Street Journal -
• Kimberly-Clark Posts Higher Profit Ahead of Kenvue Vote — Wall Street Journal -
• Union Pacific Profit Rises Despite Revenue Falling on Lower Volumes — Wall Street Journal -
• G.M. Shares Rise as Investors Are Encouraged by 2026 Prospects — The New York Times Business -
• Sysco 2026 Adjusted Earnings Seen at High End of Range — Wall Street Journal -
• Atlas Copco Expects Near-Term Demand to Remain at Current Level — Wall Street Journal -
• Boeing reports highest quarterly revenue since 2018 — Financial Times -
• RTX Posts Higher Sales, Issues Upbeat Outlook — Wall Street Journal -
• UnitedHealth Books Hefty Charges, Issues Soft Full-Year Revenue Outlook — Wall Street Journal -
• The Possible Faces of a Rio Tinto-Glencore Deal — Wall Street Journal -
• Dr. Martens Revenue Drops on Europe, Middle East and Africa Weakness — Wall Street Journal -
• Sage Group Underlying Revenue Rises on Growth Across All Key Regions — Wall Street Journal -
• Kirkland & Ellis quits as counsel to Altice USA amid Wall Street pressure — Financial Times -

Southwest Airlines implemented assigned seating, the FAA faced blame for a plane crash, and American Airlines anticipated a payoff from premium service investments, while UPS announced significant job cuts due to reduced Amazon shipments.

• Southwest Begins Assigned Seating, Scrapping a Signature Quirk — The New York Times Business -
• Safety Board Heaps Blame on F.A.A. Over Potomac Plane-Helicopter Crash — The New York Times Business -
• Auto & Transport Roundup: Market Talk — Wall Street Journal -

• UPS to cut up to 30,000 jobs and close facilities as Amazon shipments drop — Financial Times -
• UPS Will Cut Up to 30,000 Jobs in 2026 — The New York Times Business -
• UPS Will Cut Up to 30,000 Jobs in 2026 — The New York Times Business -
• American Airlines Expects Investments in Premium Service Will Pay Off This Year — Wall Street Journal -
• UPS to Cut 30,000 Jobs This Year — Wall Street Journal -
• Carbon-free flying by 2050 is ‘pie in the sky’, say aircraft leasing chiefs — Financial Times -
• She’s the Face of Trump’s Aviation Safety Board, and She’s a Democrat — The New York Times Business -
• UK needs far faster EV charger rollout to hit 2030 demand — Financial Times -
• European EV sales overtake petrol for first time in December — Financial Times -
• Ford and General Motors in talks with First Brands over rescue financing — Financial Times -
• A Year After DC Plane Crash, Concerns About Airport’s Safety Continue — The New York Times Business -

The dollar continued to slide, US consumer confidence plunged, and record global debt raised alarms, while the Fed prepares to hold rates steady despite political pressure and Japan's yen steadied amid election campaigns.

• Dollar slides as Trump says he is not concerned with its recent decline — Financial Times -
• Intervention will not reverse yen weakness — Financial Times -
• US consumer confidence plunges to 12-year low — Financial Times -

• Record Debt in the World’s Richest Nations Threatens Global Growth — The New York Times Business -
• Fed set to hold rates ahead of renewed focus on its independence — Financial Times -
• Who’s been buying all the gold? — Financial Times -
• Yen steadies as Takaichi starts Japan election campaign — Financial Times -
• The ECB will hold until it is pushed away from its ‘good place’ — Financial Times -
• Why Asia’s currencies have slumped against the dollar — Financial Times -
• The Gold Boom Has Miners Scrambling to Find the Next Mother Lode — Wall Street Journal -
• UK shop price inflation rises to its highest level in nearly 2 years — Financial Times -

Microsoft projected soaring water use for AI data centers, Meta launched campaigns for data center acceptance, and Anthropic doubled its VC funding amidst a tech industry shift towards AI, leading to Pinterest layoffs focused on AI growth.

• Microsoft Pledged to Save Water. In the A.I. Era, It Expects Water Use to Soar. — The New York Times Business -
• Meta Campaigns to Change Opinions on Data Centers — The New York Times Business -
• Anthropic doubles VC fundraising to $20bn on surging investor demand — Financial Times -

• Meta Enters Up to $6 Billion Data-Center Fiber-Optic Cable Deal With Corning — Wall Street Journal -
• UAE launches ‘sovereign’ open AI model to counter Chinese rivals — Financial Times -
• Pinterest to Lay Off Up to 15% of Workforce in Restructuring — Wall Street Journal -
• The tech ‘courtier’ steering Trump on AI to Silicon Valley’s delight — Financial Times -
• Big Tech’s borrowing spree raises fears of AI risks in US bond market — Financial Times -
• How Bad Are A.I. Delusions? We Asked People Treating Them. — The New York Times Business -

UPS announced significant job cuts affecting tens of thousands due to decreased Amazon shipments, Pinterest also planned layoffs as part of a restructuring, and Spain's unemployment rate fell, while CEOs in Minnesota urged de-escalation following a shooting by immigration agents.

• Bari Weiss Urges CBS News to Think Like a ‘Start-Up’ — The New York Times Business -
• UPS to cut up to 30,000 jobs and close facilities as Amazon shipments drop — Financial Times -
• UPS Will Cut Up to 30,000 Jobs in 2026 — The New York Times Business -

• Former Citi Executive Sues Bank, Alleging Sexual Harassment — Wall Street Journal -
• Bari Weiss Lays Out New Vision for CBS News — Wall Street Journal -
• OpenAI’s Altman and More C.E.O.s Weigh In on Minnesota — The New York Times Business -
• Spain’s unemployment rate falls to lowest level since 2008 — Financial Times -
• Pinterest to Lay Off Up to 15% of Workforce in Restructuring — Wall Street Journal -
• CEOs of Target and Minnesota’s Biggest Companies Call for ‘De-Escalation’ After Shooting — The New York Times Business -

The UK government announced a cut to business rates for pubs and capped ground rents for freeholders, while Reform UK gained political attention ahead of a by-election, and London's mayor pushed to boost nightlife amidst industry struggles.

• Former Opec chief enjoyed ‘life of luxury’ in UK thanks to bribes, court told — Financial Times -
• Pubs to get 15% cut to business rates bill after government U-turn — Financial Times -
• Former Labour MP charged with sexual assault — Financial Times -

• Criminal justice reforms will undermine trust in the system — Financial Times -
• Sadiq Khan in push to boost London’s nightlife — Financial Times -
• Reform UK picks Matt Goodwin for Gorton and Denton by-election — Financial Times -
• Nigerian military officers face trial over alleged coup attempt — Financial Times -
• Burnham’s Manchester and its rapid revival — Financial Times -
• Tories should be glad Braverman has gone to Reform — Financial Times -
• UK government caps ground rents paid to freeholders — Financial Times -
• UK launches £20mn fund for military tech start-ups — Financial Times -
• UK politicians call for competition review of Netflix bid for Warner Bros — Financial Times -
• KPMG partners jostle for top UK job — Financial Times -
• ‘Tories: the sequel’: Starmer’s plan to use defections to attack Reform UK — Financial Times -
• Reform in ‘ferocious battle’ with council officers over pension cuts, says Tice — Financial Times -

Microsoft projected a surge in water use for AI data centers, a winter storm caused widespread power outages, and the UK discussed adopting Chinese energy technology, while Michael Bloomberg continued to expand climate spending.

• Microsoft Pledged to Save Water. In the A.I. Era, It Expects Water Use to Soar. — The New York Times Business -
• UK energy company urges Starmer to ‘embrace’ Chinese technology — Financial Times -
• Opinion | Winter Storm Fern Proves Grid Reliability a Necessity — Wall Street Journal -

• Canada’s oil industry thrives as sales to China soar — Financial Times -
• Carbon-free flying by 2050 is ‘pie in the sky’, say aircraft leasing chiefs — Financial Times -
• As Europe’s Reliance on U.S. Natural Gas Grows, So Does Trump’s Leverage — The New York Times Business -
• Snowstorm knocks out power and grounds US and Canadian flights — Financial Times -
• Michael Bloomberg tops up climate spending to beyond $3bn — Financial Times -

Amazon announced the closure of all its Go and Fresh stores, LVMH reported weak sales growth heading into the holidays, and FAT Brands filed for bankruptcy, signaling ongoing challenges in the retail and hospitality sectors.

• Amazon to Shut Down All Amazon Go and Amazon Fresh Stores — Wall Street Journal -
• Louis Vuitton Owner LVMH Closes Year-End Quarter With Weak Sales Growth — Wall Street Journal -
• ‘The Outsiders’ Musical Recoups on Broadway — The New York Times Business -

• Ian Schrager Forges New Partnership to Revamp His Stalled Hotel Brand — Wall Street Journal -
• Restaurant Franchiser FAT Brands Files for Bankruptcy — Wall Street Journal -