Business

All living former Federal Reserve chairs publicly condemned an attempt to weaken the Fed's independence after the Justice Department opened a criminal inquiry into Chair Jerome Powell and served grand jury subpoenas related to his Senate testimony.

Argentina repaid the $2.5 billion it drew from a $20 billion currency swap line with the United States, the U.S. Treasury announced; the payment was reported as part of a broader $4.3 billion debt repayment that included bondholder payments.

The Justice Department has opened a criminal inquiry into the Federal Reserve and issued subpoenas, and Chair Jerome Powell has publicly contested the probe. Analysts say the dispute has made additional interest rate cuts this year less likely.

Heineken said CEO Dolf van den Brink will leave at the end of May and transition to an eight-month advisory role, while the board has launched a search for a successor.

Federal Reserve Chair Jerome Powell said prosecutors served the Fed with grand jury subpoenas and are threatening a criminal indictment linked to his Senate testimony and office renovations; a government official confirmed prosecutors are looking into the Fed.

The article cites forecasts as high as $5,400 per troy ounce and reports bullion has risen over 69% so far this year; it also outlines buying options such as physical bars and coins, ETFs and mining stocks, and notes tax, storage and sourcing considerations.

SoCalGas has proposed pilot projects to blend small shares of hydrogen into local pipeline gas and has identified Orange Cove as a test site; the California Public Utilities Commission is expected to decide on such pilots this year amid local concerns about emissions, leaks and health impacts.

The euro and Swiss franc strengthened against the U.S. dollar after reports that the Trump administration threatened Federal Reserve Chair Jerome Powell with a criminal indictment and Powell said the Department of Justice served the Fed with grand jury subpoenas.

China and the EU said they agreed on steps toward resolving a dispute over Chinese-made electric vehicle imports; the EU will issue guidance on minimum import prices and the European Commission will assess offers under World Trade Organization rules.

Mortgage rates have stabilized and some lenders are adjusting pricing upward; borrowers are being encouraged to compare mortgage features such as portability, prepayment limits and whether a home equity line is offered rather than wait for lower rates.

President Trump proposed a one-year 10% cap on credit card interest with a Jan. 20 start date; bankers and industry groups say enforcement and consequences are unclear.

This week features scheduled Fed speeches, major bank earnings starting with JPMorgan, and two inflation readings including the December consumer-price index.

An opinion piece questions whether Bitcoin functions as "digital gold," contrasting its volatile price history and heavy promotion with gold's steadier gains and reporting concerns about marketing tactics, leverage and ETF inflows.

Walmart and Google announced a partnership to let shoppers use Google's AI assistant Gemini to discover and purchase items from Walmart and Sam's Club, starting in the U.S.; the companies did not disclose a launch date or financial terms.

A Morningstar report recommends a 3.9% first-year withdrawal, adjusted for inflation, and finds a 90% probability of success over a 30-year retirement for portfolios with 30–50% stocks; the report also says delaying Social Security to age 70 raises lifetime spending but may require temporary bridge strategies.

Anthropic, backed by Amazon, launched 'Claude for Healthcare,' a set of HIPAA-ready tools with links to major medical databases and options to connect personal health data; the move follows OpenAI's recent ChatGPT Health release.

India's consumer inflation rose to 1.33% in December from 0.71% in November, driven mainly by higher food and personal care prices, and came in below a Reuters poll expectation of about 1.5%.

Ethiopian Airlines began construction on Bishoftu International Airport on 10 January 2026; the US$12.5bn project is planned to handle 60 million passengers in its first phase by 2030.

China's antitrust committee has opened a probe into competition among food-delivery platforms, and shares of Meituan and Alibaba rose in Hong Kong following the announcement.

China said it reached a deal with the European Union on exports of Chinese-made electric vehicles, and Beijing said the EU will issue guidelines on minimum pricing for Chinese auto exporters. The Commerce Ministry did not say whether the EU tariffs of up to 35.3% imposed after an investigation will be lifted.

Rates on high-yield savings accounts were unchanged from last week, with the top standard-account yield at 5.84% and national averages around 0.22%, according to Curinos.

Spot gold rose past $4,600 an ounce as investors moved into safe havens, and federal prosecutors are reported to be examining a $2.5 billion renovation of the Federal Reserve's Washington headquarters and Chairman Jerome Powell's testimony to Congress.

Activists report at least 544 people killed and more than 10,600 detained amid nationwide protests, and US President Donald Trump said Iran proposed negotiations after he warned of possible military action.

A U-Haul truck drove through a crowd of pro-Iran protesters in Westwood, Los Angeles; police detained the driver and one person was struck but did not suffer significant injuries.

Australia will create a A$1.2 billion strategic reserve to buy rare earths, antimony and gallium from domestic miners, the government said, aiming to strengthen supply chains and reduce reliance on dominant foreign suppliers.

The United States will host G-7 ministers in Washington this week to discuss rare earths and critical mineral supply chains, with officials from Canada, Japan and other partners expected to attend. Reports say China has tightened controls on some rare earth shipments to Japan, including items for civilian use.

Los Angeles police say a U-Haul truck drove into a street with several hundred marchers at an anti‑Iranian regime protest; officers stopped the vehicle several blocks away and later issued a dispersal order.

Los Angeles police said a U-Haul drove into a crowd at an anti‑Iranian regime rally in Westwood on Sunday; a man was removed from the vehicle and taken into custody, and officials said the driver is being treated in hospital while the investigation continues.

Benitec Biopharma announced that the first patient in Cohort 1 of the BB-301 Phase 1b/2a study completed a 24-month post-treatment assessment with continued improvements in swallowing measures. The company also reported that the first four Cohort 1 patients completed the 12-month statistical follow-up and met its pre-specified responder criteria.

The Justice Department served grand jury subpoenas connected to Fed Chair Jerome Powell’s June testimony, and gold rose to around $4,585 an ounce amid elevated geopolitical tensions and rate-cut expectations.