Business

• Taiwan will invest $250 billion in U.S. chipmaking under new trade deal - The U.S. and Taiwan have reached a trade agreement to build chips and chip factories on American soil, the Department of Commerce announced on Thursday.
• Amazon threatens ‘drastic action’ after Saks bankruptcy, says $475M stake is now worthless - Amazon invested $475 million into Saks's acquisition of Neiman Marcus. It wants a federal judge to reject Saks's bankruptcy plan because it harms creditors.
• Australia banned social media for under 16s a month ago — here's how it's going - The effects of a new social media ban for under 16s in Australia has been mixed so far. Some teens are embracing new habits while others are bypassing the law.
• Musk's xAI disables Grok's ability to create sexualized images of real people after backlash - X's safety account said in a social media post that no users will be able to create sexualized images of real people using Grok.
• Trump administration clears way for Nvidia H200 chip sales to China with a 25% surcharge - The H200's performance has been exceeded by two generations of Nvidia chips currently in production, the Blackwell and Rubin.
• Stellantis CEO: 2026 is the ‘year of execution’ as Wall Street awaits turnaround strategy - Stellantis CEO Antonio Filosa views 2026 as an execution year for the embattled automaker following years of sales declines in the U.S.
• Netflix likely to adjust Warner Bros. Discovery offer to make it all-cash - Netflix is likely to amend its offer for Warner Bros. Discovery's streaming and studio business after reaching an earlier agreement in December.
• Tariffs and AI's downside pose top global risks for business, World Economic Forum says - The report captures a shifting landscape where geoeconomic confrontation leaps to the top spot on the list of business worries over the next two years
• Saks Global, the longtime leader of luxury department stores, files for bankruptcy protection - Saks Global, which also owns Neiman Marcus and Bergdorf Goodman, filed for bankruptcy protection after running out of cash.
• JPMorgan Chase says banks could fight Trump credit card rate cap: 'Everything's on the table' - Banks say a proposed 10% cap on credit card interest rates would result in fewer credit card accounts for Americans and a hit to the U.S. economy.