NEW YORK (AP) – JPMorgan Chase said Tuesday that its fourth-quarter profits rose 9% on an adjusted basis, as the bank continues to benefit broadly from a strong economy in both its consumer and investment banking divisions. The bank earned $13.03 billion, or $4.63 a share.
NEW YORK (AP) – Up until this week, Wall Street has generally benefited from the Trump administration’s policies and has been supportive of the president. When President Donald Trump signed the One Big Beautiful Bill into law in July, it also cut the budget of the Consumer Financial Protection Bureau, at times the banking industry’s nemesis, by nearly half.
WASHINGTON (AP) – Inflation cooled a bit last month as prices for gas and used cars fell, a sign that stubbornly elevated cost pressures are slowly easing. Consumer prices rose 0.3% in December from the prior month, the Labor Department said Tuesday, the same as in November. Excluding the volatile food and energy categories, core prices rose 0.2%, also matching November’s figure.
Excerpts from recent editorials in the United States and abroad:
The discount grocery chain Aldi is expanding rapidly and plans to open more than 180 U.S. stores this year as more Americans skip nights out at restaurants and cook at home due to anxiety over the nation’s economy. The chain went on an expansion tear soon after inflation began to spike in 2021 and opened a record number of new stores last year.
HONG KONG (AP) – A Hong Kong court heard sentencing arguments Tuesday for former publisher Jimmy Lai’s co-defendants as it moved closer to sentencing the prominent democracy advocate whose conviction under a national security law could land him in prison for life. The jail term’s potential length remained unclear.
LONDON (AP) – The BBC plans to ask a court to throw out U.S. President Donald Trump’s $10 billion lawsuit against the British broadcaster, court papers show. Trump filed a lawsuit in December over the way the BBC edited a speech he gave on Jan. 6, 2021. The claim seeks $5 billion in damages for defamation and $5 billion for unfair trade practices.
KUALA LUMPUR, Malaysia (AP) – Malaysian authorities said Tuesday they will take legal action against Elon Musk’s social media platform X and its artificial intelligence unit xAI, accusing the companies of failing to ensure the safety of users of its Grok chatbot.
LOS ANGELES (AP) – A proposed billionaires’ tax in California has ignited a political uproar in Silicon Valley, with tech titans threatening to leave the state while Democratic Gov. Gavin Newsom maneuvers to defeat a levy that he fears will lead to an exodus of wealth.
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