Meta's record sales and massive AI spending boosted shares, while Tesla's profit slump was offset by a **$2 billion investment in xAI and a pivot to AI, joining Microsoft's significant AI expenditures overshadowing its profit surge, as Samsung and IBM also reported strong earnings driven by AI demand and ASML logged record orders, with SoftBank investing heavily in OpenAI and Uber expanding its robotaxi push**.

• Meta’s record sales boost shares 10% despite massive spending plans — Financial Times -
• Tesla Profit Slumps, but Investors May Not Care — The New York Times Business -
• Meta and its peers are everything, everywhere, all of the time — Financial Times -

• Microsoft’s Earnings Surge Is Overshadowed by Data-Center Spending — Wall Street Journal -
• Meta Reports Record Sales, Massive Spending Hike on AI Buildout — Wall Street Journal -
• Tesla to Invest $2 Billion in Elon Musk’s xAI, Cancel Two EV Models — Wall Street Journal -
• Tesla trims car line up in pivot to AI as annual revenue falls for first time — Financial Times -
• Samsung’s Fourth-Quarter Net Profit Beats Consensus — Wall Street Journal -
• Microsoft Continues to Spend Big on A.I. While Profit Jumps 60% — The New York Times Business -
• Microsoft’s AI spending and disappointing cloud growth overshadow strong profits — Financial Times -
• Google Aims Knockout Blow at Chinese Company Linked to Massive Cyber Weapon — Wall Street Journal -
• IBM Sales Rise 12% as Customers’ Appetite for AI Grows — Wall Street Journal -
• Universal basic income needed to cushion blow from AI job losses, says UK minister — Financial Times -
• Clay, an A.I. Sales Start-Up, Lets Employees Cash Out. Again. — The New York Times Business -
• Chip-Machine Giant ASML Logs Record Orders as AI Spending Booms — Wall Street Journal -
• CMA targets Google AI overviews in move to loosen search dominance — Financial Times -
• Uber invests $500mn in Canada’s Waabi to accelerate robotaxi push — Financial Times -
• SK Hynix Caps Off Bumper Year With Record Quarter — Wall Street Journal -
• ASML forecasts bumper sales on back of AI boom — Financial Times -
• SoftBank close to agreeing additional $30bn investment in OpenAI — Financial Times -
• Vibecoding isn’t going to kill business software services — Financial Times -
• AI will not lead to mass layoffs, says head of India’s largest IT services company — Financial Times -

The Federal Reserve held interest rates steady, signaling no immediate cuts despite Trump's political drama with Powell, as robust economic growth and a steady jobs market were noted, while Germany cut its growth forecasts, the UK revamped its inflation measure, and investors bet on a 'hot' US economy heading into midterm elections.

• Fed Holds Rates Steady as It Points to an Improving Economy — The New York Times Business -
• Trump’s Political Drama With Powell Overshadows Fed Rate Decision — The New York Times Business -
• What to know about the Fed decision. — The New York Times Business -

• Takeaways from the Fed meeting — The New York Times Business -
• Federal Reserve signals no rush to cut rates as economy powers ahead — Financial Times -
• The Fed Is Waiting and Watching an Uncertain Economy — The New York Times Business -
• Federal Reserve holds rates and removes dovish guidance — Financial Times -
• Fed decision as it happened: Central bank holds interest rates steady, Powell signals no rush to loosen policy further as US economy powers ahead — Financial Times -
• Fed, Signaling Little Urgency, Prepares to Pause on Rate Cuts — The New York Times Business -
• Bessent says Trump administration still pursuing ‘strong dollar policy’ — Financial Times -
• Five Questions for Jerome Powell, the Fed Chair — The New York Times Business -
• ONS revamps UK inflation measure with supermarket scanner data — Financial Times -
• Germany cuts growth forecasts amid slow recovery — Financial Times -
• What’s the cost to Mark Carney of defying The Donald? — Financial Times -
• FirstFT: US consumer confidence sinks — Financial Times -
• BoE needs to win the last-mile disinflation battle in 2026 — Financial Times -
• Rick Rieder is a massive dove — Financial Times -
• ECB would need to act if euro keeps gaining, says Austria’s central bank governor — Financial Times -
• Investors bet on ‘hot’ US economy heading into midterm elections — Financial Times -
• ‘Dirt cheap’ shoppers become Japan’s key voters — Financial Times -
• Dollar slides as Trump says he is not concerned with its recent decline — Financial Times -
• The Deflation Doom Loop Trapping China’s Economy — Wall Street Journal -

Levi Strauss saw sales tick up, Starbucks reported a sales jump and turnaround ahead of schedule, and Southwest Airlines forecasted a profit surge with its new assigned seating, contrasting with Las Vegas Sands' slumping stock and Whirlpool's falling revenue, while **AT&T and General Dynamics boosted revenue and Carvana shares plummeted** after a short-seller report.

• Levi Strauss Sales Tick Up as Focus Shifts Beyond Denim — Wall Street Journal -
• Las Vegas Sands Stock Slumps After Macao Results Fall Short — Wall Street Journal -
• Whirlpool Fourth-Quarter Revenue Falls on Lower Americas Sales Volumes — Wall Street Journal -

• Carvana shares plummet 14% after report by short seller Gotham — Financial Times -
• Starbucks Sales Jump as Coffee Customers Return — Wall Street Journal -
• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Basic Materials Roundup: Market Talk — Wall Street Journal -
• Southwest Forecasts Profit Surge as Assigned-Seating Flights Take Off — Wall Street Journal -
• CPKC Profit Down, Revenue Up in Challenging Market — Wall Street Journal -
• Starbucks Says Turnaround ‘Ahead of Schedule’ as Sales Rebound — The New York Times Business -
• Firms Strike Deal for $10 Billion Shipping-Ports Venture — Wall Street Journal -
• Brinker Boosts Outlook as Chili’s Continues to Outperform Industry — Wall Street Journal -
• Stellantis resets bets on US classics: $13bn push to revive Jeep and Dodge — Financial Times -
• Birkenstock Eyes Double-Digit Revenue Growth in Push to Open Stores — Wall Street Journal -
• VF Revenue Rises as North Face Offsets Vans Weakness — Wall Street Journal -
• Southwest Begins Assigning Seats, Ending 50 Years of the Boarding Scrum — The New York Times Business -
• GE Vernova Warns Efforts to Halt Offshore Wind Projects Could Hurt Operations — Wall Street Journal -
• Starbucks’ US sales increase for first time in two years — Financial Times -
• AT&T Sales Rise on Higher Wireless, Consumer Revenue — Wall Street Journal -
• General Dynamics Revenue Boosted by Marine Systems, Defense — Wall Street Journal -
• Maersk Warns of Disruption From Severe Weather in Europe — Wall Street Journal -
• Scotts Miracle-Gro Strikes Deal to Sell Cannabis-Supply Unit — Wall Street Journal -
• Luxury Stocks Drop After LVMH Results Prompt Caution on Sector Outlook — Wall Street Journal -
• Volvo Lifts Truck Market Guidance as Markets Begin to Stabilize — Wall Street Journal -
• Royal KPN Posts Higher Net Profit — Wall Street Journal -
• Lonza Sales Grow on New Contract Momentum — Wall Street Journal -

Precious metals like gold and silver surged amid geopolitical tensions and a sliding dollar, while the **S&P 500 topped 7,000 for the first time, the US crypto industry raised a record war chest for elections, and Indonesian shares plunged** after an MSCI warning on market investability.

• US crypto industry raises record war chest for midterm election campaigns — Financial Times -
• Apollo real estate trust sells $9bn loan book to group’s insurer — Financial Times -
• Metals surge boosts value of mining groups by almost $500bn — Financial Times -

• Silver Prices Are Surging Even Faster Than Gold — The New York Times Business -
• What Is a Money Market Account? — Wall Street Journal -
• S&P 500 tops 7,000 for first time — Financial Times -
• The precious metal feeding frenzy — Financial Times -
• U.S. Crude Oil Stockpiles Post Weekly Decline as Imports Fall — Wall Street Journal -
• Termites are slowly feasting away at the foundations of the dollar’s dominance — Financial Times -
• A Municipal Debt Boom Is Driving Public Projects and Tax Breaks for Investors — The New York Times Business -
• Indonesian shares plunge after MSCI warns on market’s investability — Financial Times -
• What should I do with income from a share sale? — Financial Times -
• SOFAZ so good — Financial Times -
• Gold climbs to record high after slide in dollar — Financial Times -
• The private equity giant in Zug facing a test — Financial Times -
• Can Wells Fargo make it in investment banking? — Financial Times -

The UK and China agreed to share intelligence on people traffickers, Trump warned Iran that time was running out for a deal, and Ford's deeper ties with China battery giant CATL angered US lawmakers, while discussions over the Chagos Islands reopened, and Europe considered a future without US-led NATO.

• UK and China to share intelligence over people traffickers in the Channel — Financial Times -
• Trump warns Iran ‘time is running out’ for deal to avert US military action — Financial Times -
• Talks with US over Chagos Islands deal have reopened, confirms Starmer — Financial Times -

• America’s shift to an insider economy — Financial Times -
• Ford’s move to expand ties with China battery giant CATL angers US lawmakers — Financial Times -
• Starmer insists he will take ‘pragmatic’ approach during Beijing trip — Financial Times -
• Starmer and Badenoch blast Reform UK’s by-election candidate — Financial Times -
• UK cuts subsidies to ‘overcompensated’ renewable power groups — Financial Times -
• Why Taco is a problem for Europe — Financial Times -
• Global green investment keeps growing despite China market shock — Financial Times -
• ‘European army’ needed to ensure continent’s safety, says Spain — Financial Times -
• Xi’s purge of top general sends China’s military into uncharted waters — Financial Times -
• The reality of a world after rupture — Financial Times -
• Investment in Europe’s chemicals sector plunges over 80% in 2025 — Financial Times -
• Nato without America: Europe ‘thinks the unthinkable’ — Financial Times -
• The Russian refinery Berlin cannot afford to lose — Financial Times -
• Trump’s ‘New Gaza’ vision collides with devastation on the ground — Financial Times -

Amazon announced significant corporate layoffs, **Google settled a cellular data lawsuit for $135 million, and ADM paid $40 million to settle accounting fraud claims, while concerns over Teamster job security and FAA failures in a D.C. crash were highlighted, alongside discussions on social media protection for children**.

• The Makings of a Kanye West Apology: An All-Staff Meeting and a 7-Figure Record Deal — Wall Street Journal -
• Amazon’s $35 Million ‘Melania’ Promotion Has Critics Questioning Its Motives — The New York Times Business -
• Opinion | More Teamster Job Casualties — Wall Street Journal -

• ICE agents involved in shooting of Alex Pretti placed on administrative leave — Financial Times -
• Google to Pay $135 Million to Settle Lawsuit Over Handling of Cellular Data — Wall Street Journal -
• Ex-Opec head confronted tycoon over his threat to ‘take her down’, court hears — Financial Times -
• France presses Capgemini over ICE contract amid international backlash — Financial Times -
• Protecting children from social media is not moral panic — Financial Times -
• Safety Board Blames F.A.A. For Multiple Failures in D.C. Crash — The New York Times Business -
• Amazon to Lay Off Around 16,000 Corporate Employees — Wall Street Journal -
• Amazon to axe another 16,000 corporate jobs — Financial Times -
• Is a Cookie a Type of Candy? Supermarkets Have a New Food-Stamp Conundrum — Wall Street Journal -
• Trump’s Iowa base shows cracks over Minneapolis deaths — Financial Times -
• The case for Labour’s policing overhaul — and the big risks — Financial Times -
• Fish pile up at European ports as new digital system falters — Financial Times -
• The rise of the ‘National Health State’ — Financial Times -
• FAA Failures Created Conditions for Deadly Reagan Airport Crash, NTSB Says — Wall Street Journal -
• Star Kirkland partner’s future in doubt as firm sides with PE in legal tactics dispute — Financial Times -
• How Trump was forced to back off his harshest immigration tactics — Financial Times -
• ADM to Pay $40 Million to Settle SEC Accounting Fraud Claims — Wall Street Journal -
• Archer Daniels Midland pays $40mn to settle accounting investigation — Financial Times -
• UK’s deadline for paying IHT on pensions poses ‘huge problem’, peers warn — Financial Times -