Andrew Ross SorkinThe European Central Bank has put liquidity tools back at the center of the euro-area finance debate, signaling that funding backstops and market plumbing will
Andrew Ross SorkinSwitzerland has moved from consultation to execution in its campaign to harden the country’s too-big-to-fail framework, unveiling a package that places UBS at t
Andrew Ross SorkinSwitzerland has moved to harden its post-Credit Suisse banking rulebook with a new capital package aimed squarely at UBS, the country’s only remaining global sy
Andrew Ross SorkinU.S. regulators are no longer defending the Basel III endgame capital framework they first advanced in 2023. They are rewriting it. That shift, now unmistakable
Andrew Ross SorkinJPMorgan Chase CEO Jamie Dimon stated that President Trump’s $5 billion lawsuit against the bank lacks legal merit but acknowledged Trump’s frustration over account closures. Dimon explained that banks face regulatory pressures prompting them to sever relationships deemed high-risk, especially after incidents like the January 6 Capitol attack, blending politics, regulation, and corporate risk management.
Andrew Ross SorkinMP Materials will establish a $1.25 billion rare earth magnet manufacturing campus in Northlake, Texas, supporting U.S. supply of critical minerals. This facility, known as “10X,” aims to produce 7,000 metric tons annually, reducing reliance on imports. The project, creating 1,500 jobs, is critical for national security amid Chinese dominance in the sector.
Andrew Ross SorkinBitcoin experienced a significant decline, nearing $72,000, reflecting a 5% drop within two days. Analysts cite geopolitical uncertainties and evolving economic expectations as key factors. Institutional sell-offs have exacerbated the situation, leading to over $12 billion in outflows from exchange-traded funds. This downturn affects the broader cryptocurrency market.
Andrew Ross SorkinKevin Warsh, originally on the Federal Reserve Board from 2006 to 2011, has been nominated by President Trump to return under different conditions. Warsh is known for his critique of the Fed’s post-crisis strategy and may adopt a more hawkish stance on inflation. His confirmation faces potential Senate challenges but is anticipated to garner bipartisan support.
Andrew Ross SorkinSoftware stocks faced a steep decline, marking a bear market as fears over AI disruption intensified. The iShares Expanded Tech-Software Sector ETF fell 5.4%, leading to significant losses across the sector. Companies like ServiceNow and Microsoft reported disappointing responses, highlighting skepticism towards traditional software amid rapid AI advancements. Concerns grow over traditional business models.
Andrew Ross SorkinAt the recent World Economic Forum in Davos, China advocated for cooperation and stability amid rising global tensions, contrasting sharply with other leaders’ confrontational stances. Analysts suggest that the shift from a U.S.-centric economic model could position China for greater influence, despite ongoing trade challenges with the U.S. and domestic economic issues.
