Economy
- AI spending wasn't the biggest engine of U.S. economic growth in 2025, despite popular assumptions - The GDP value of AI is smaller than it might appear given that a lot of high-tech equipment is imported, according to a recent MRB Partners report.
- Iran is not a major oil producer, but it still moves prices. Here's why - Iran is not a major producer of oil, but the recent civil unrest there still moved markets. Here's why.
- Airlines cancel hundreds of flights as massive winter storm sweeps across U.S. - U.S. airlines canceled flights and waived change fees for travelers as a cold snap and massive winter storm were forecast to sweep across the country.
- Trump withdraws 'Board of Peace' invitation to Carney in widening rift with Canada - Trump said he has withdrawn the invitation to Canada to join the new Board of Peace, days after Carney's Davos speech warning against economic coercion by the superpowers.
- Rieder odds rising for Fed chair after Trump calls BlackRock executive 'very impressive' - Traders on the Kalshi predictions market raised the odds for Rieder getting the nomination to 33%
- Fed's main gauge shows inflation at 2.8% in November, edging further away from target - Inflation drifted slightly further from the Federal Reserve's target in November though in line with expectations.
- OpenEvidence, the 'ChatGPT for doctors,' doubles valuation to $12 billion - OpenEvidence, based in Massachusetts, has topped a $12 billion valuation in a funding round led by Thrive and DST.
- China says trade deal with U.S. will 'drain Taiwan’s economy' for American benefits - China doubled down its rhetorics on the trade agreement between Taiwan and the U.S., saying it would benefit Washington while eroding the island's strategic advantages.
- Treasury yields inch lower as investors monitor escalating trade tensions - U.S. Treasury yields declined on Wednesday, tentatively retreating from a sell-off that spurred a flight from U.S. assets on Tuesday.
- Bessent says Trump's pick for the next Fed chair could happen next week - The president has whittled down the field to four candidates, Bessent told CNBC during an interview at the World Economic Forum in Switzerland.