President Trump said on Wednesday that he would impose a 25% tariff on select semiconductors, including the Nvidia chips it plans to sell in China.
Why it matters: The tariffs are part of a broader deal, one in which the U.S. government will reap revenues from allowing Nvidia to sell AI processors in China.
Why it matters: The bankruptcy of the luxury retailer behind Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman shows that affluent shoppers are no longer enough to protect chains from financial missteps.
The FBI searched the home and devices of Washington Post reporter Hannah Natanson, who covers the Trump administration's reshaping of the federal government, a Post spokesperson confirmed to Axios.
Why it matters: Searching a journalist's home is an extraordinary step — even past administrations that aggressively pursued leak investigations stopped short of raiding reporters' homes.
The Dodge Charger, Ford Maverick Lobo and Hyundai Palisade are the 2026 North American Car, Truck and Utility of the Year winners, jurors revealed this morning at the Detroit auto show.
Why it matters: With new-car prices soaring, judging this year's winners highlighted a growing tension: value is becoming as important as innovation and design.
As General Motors CEO Mary Barra grows closer to retirement, some of her biggest ambitions remain unfulfilled.
Why it matters: Barra is turning 65 this year, and while the dynamic leader has left a clear imprint on the automaker during her 12-year tenure, her vision for an electric, autonomous, technology-driven future has yet to materialize.
Environmental groups are signaling potential lawsuits over EPA's decision not to put monetary estimates on the health benefits of curbing critical forms of air pollution.
State of play: EPA revealed its approach in publishing a new rule for power turbines, which shies away from "monetizing benefits" of avoiding fine particulate and ozone pollution.
The latest: Grocery prices rose at the fastest pace in three years, keeping pressure on household budgets even as overall inflation held steady in December.
JPMorgan Chase's earnings results included a miss on investment banking revenue and a hit to net income. But CEO Jamie Dimon is still increasing the bank's planned expense growth for 2026 by about $9 billion.
Why it matters: If JPMorgan is spending more, other banks may follow suit, which could fundamentally change the base case for financials this year.
Oil prices have risen to their highest levels since last fall as traders weigh the prospect of the U.S. striking Iran amid the regime's bloody crackdown on protesters.
Why it matters: Iran is OPEC's fourth-largest producer, pumping well over three million barrels per day and exporting over 1 million barrels per day despite U.S. sanctions, with most flowing to China.
AI might one day replace us all — for now though, humans still spend a lot of time cleaning up its mess, according to a Workday survey released Wednesday.
Why it matters: The promise of AI is that it makes work more productive, but the reality is proving more complex and less rosy.
