Business

Federal Reserve Chair Jerome Powell said the Justice Department served the Fed with grand jury subpoenas on Jan. 9, and that DOJ officials threatened a criminal indictment related to his June 2025 Senate Banking Committee testimony.

MSC Cruises will stage Dirty Dancing: In Concert aboard MSC Poesia from 11 May 2026, adding the production to a third ship as the line begins its inaugural Alaska sailings.

An Iranian official told Reuters that around 2,000 people were killed in recent protests and blamed "terrorists" for those deaths; the UN rights chief said he was "horrified" by violence and cited UN sources reporting hundreds killed. Other organizations have published much higher and lower counts and the true total remains undetermined.

Experts say keeping about five years of income in safer assets and closely tracking spending can reduce the risk of exhausting retirement savings.

The U.S. government will invest $1 billion in a spun-off L3Harris rocket motor business via a convertible security that will convert to common equity when the unit goes public later in 2026.

The Justice Department opened a criminal inquiry into Fed Chair Jerome Powell’s comments about building renovations, and former Fed chairs and some Republican lawmakers publicly defended Powell and central bank independence.

Fifteen restaurants in Okaloosa County had no violations during state health inspections for the week of Jan. 5–11, 2026. Several other establishments required follow-up inspections, with some reports listing high-priority violations.

Some bamboo species reach maturity in three to five years, making the plant more rapidly renewable than many hardwoods, but overall sustainability depends on processing, adhesives and transport emissions.

The article argues Jerome Powell should remain on the Federal Reserve Board as a governor after his chair term ends in May to help protect Fed independence amid Justice Department scrutiny and presidential pressure.

President Donald Trump announced a 25% tariff on goods from countries he says have commercial ties to Iran, calling the order effective immediately; the White House provided no further details. The move was announced as anti-government protests in Iran continued into a third week.

A Justice Department probe involving the Federal Reserve was disclosed by Chair Jerome Powell, who said he faced a threat of indictment; markets reacted modestly and observers raised concerns about the Fed's independence.

The final 2025 inflation report will be released Tuesday; economists expect a 0.3% monthly increase and a 2.7% annual rate.

Südzucker reported improved third-quarter earnings after a mixed first nine months and reiterated its full-year guidance, while management said the sugar business continued to weigh on results.

Subaru last closed at ¥3,396 and shows a five-year return of about 98.7%; the article's DCF model estimates an intrinsic value of ¥2,327.03 per share, implying roughly 45.9% overvaluation on that metric.

Munich Re reported global natural disaster losses fell to $224 billion in 2025, with insured losses at $108 billion. The reinsurer said many extreme events that year were likely influenced by climate change.

The U.S. is urging allies to move faster to reduce reliance on China for rare earths, and Treasury Secretary Scott Bessent will host finance leaders from the G7 and other economies this week.

At a White House meeting President Trump said U.S. oil companies would spend at least $100 billion to rebuild Venezuela's energy sector; several executives, including Exxon CEO Darren Woods, described Venezuela as effectively "uninvestable" given past asset seizures.

Eight states lowered individual income tax rates effective Jan. 1, including Indiana, Kentucky, Mississippi, Montana, Nebraska, North Carolina, Ohio and Oklahoma, according to the Tax Foundation. The IRS also released updated federal tax brackets and standard deductions for the 2026 tax year, which apply to returns filed in 2027.

European stocks are expected to open lower as investors weigh unrest in Iran and a Department of Justice investigation into Federal Reserve Chair Jerome Powell.

President Donald Trump posted that Microsoft will announce changes so Americans do not face higher electricity bills as the company expands AI data centers. Microsoft did not immediately respond to requests for comment.

The article notes that credit can be harder to obtain in retirement because issuers often consider payment history, credit score and current income, and it outlines three approaches retirees can use to try to increase their chances of getting a credit limit increase.

A federal judge ruled that work on the Revolution Wind offshore project can resume after the administration ordered a pause over national security concerns. Revolution Wind is permitted and reported to be nearly 90% complete.

Saskatchewan Premier Scott Moe is joining Prime Minister Mark Carney on a Jan. 13–17 visit to China, where Carney will meet Chinese leaders and Moe intends to press for removal of tariffs on canola.

The Supreme Court on Jan. 12 heard arguments over energy companies' effort to move several Louisiana localities' coastal-wetlands lawsuits into federal court, after a federal appeals court said the cases should be heard in state court.

The WNBA and the players' union have agreed to a moratorium on league business during ongoing collective bargaining talks; the pause covers free agency actions such as qualifying offers, core designations, signings and negotiations.

FTSE 100 and other European stocks fell at the London open after Federal Reserve chair Jerome Powell said the Department of Justice has opened a criminal investigation related to his congressional testimony; the dollar weakened against the pound.

The FDA upgraded a nationwide recall of Ambriola’s grated Pecorino Romano cheese to a Class I recall after tests reportedly found Listeria monocytogenes; the agency reported no confirmed illnesses linked to the recall so far.

The Social Security Administration reported the average monthly benefit for retired workers was $479 at the end of 1985 (about $1,435 in 2025 dollars). In 2026 the average benefit for retired workers was reported as $2,071.

A David Binder Research poll obtained by The Post found initial support for a one-time 5% tax on California residents worth more than $1 billion fell from 55% to 41% after arguments from both sides, while opposition rose to 53%.

President Trump proposed a national 10% cap on credit card interest rates, and industry studies cited in the article say such a cap could lead to as many as four-fifths of card accounts disappearing; experts note a national cap would require an act of Congress and would likely face legal challenges.