Business news
- U.S.-Indonesia trade deal is in danger of falling apart, FT reports - Washington believes Indonesia is 'backsliding' on removing non-tariff barriers to U.S. industrial and agricultural exports, among other things, FT reported.
- Trump says he 'heard' Biden Fed appointments were signed by autopen, tells aide to investigate - Trump's autopen comments came during a speech in Pennsylvania about the economy, aimed at countering Democrats' messaging about the U.S. affordability crisis.
- Microsoft to invest $17.5 billion in India's AI infra as Big Tech queues up for the Asian market - Microsoft has pledged $17.5 billion of investment in India's cloud and AI infrastructure, as more major tech players commit to the growing market.
- Trump trade rep changes China soybean purchase timeline, cites 'discrepancy' - China for months earlier this year had boycotted purchasing soybeans from U.S. farms because of a trade war began by President Donald Trump.
- Hassett likely next Fed chair, but most think Trump should nominate someone else, CNBC Fed survey shows - The December survey shows 84% believe President Trump will tap Hassett, director of the National Economic Council, to head the central bank.
- Apple gets a big price target hike, and Wells Fargo plants a big dealmaking flag - Citigroup raises its price target on Apple stock. Wells Fargo wants to become a top player in Wall Street dealmaking.
- Trump's blessing of Nvidia AI chip sales to China gets a chilly reception from GOP - Trump said Chinese President Xi Jinping "responded positively" to the proposal to let Nvidia sell H200 AI chips on condition that the U.S. gets 25% of revenue.
- The Fed decision is expected to feature a rate cut and a lot more. Here's what to expect - The central bank is poised to deliver its third straight interest rate cut Wednesday, while firing a warning shot about what's ahead.
- OpenAI hires Slack CEO Denise Dresser to lead global revenue strategy - Dresser was named Slack's chief executive in 2023 after spending more than a decade at Salesforce.
- Trump officials move to end student loan payment pause for millions of borrowers - The Trump administration announced a proposed joint settlement with Missouri that would soon force millions of student loan borrowers into repayment.