Founders Fund, the venture capital firm co-founded by Peter Thiel, is raising around $3 billion for its third growth equity fund, Axios has learned from multiple sources.
Why it matters: Founders Fund has backed some of the world's most valuable tech startups, including SpaceX and Stripe.
The big picture: Most stores and malls close early on Tuesday for Christmas Eve and most will stay closed on Christmas Day, including Walmart, Best Buy and Macy's.
A government review board was unable to reach a consensus in Nippon Steel's planned $15 billion purchase of U.S. Steel and has referred the matter to President Biden, the two companies said on Monday night.
The big picture: The Washington Post first reported on Monday's deadlock by the Committee on Foreign Investment in the United States (CFIUS) over the potential impact on national security if U.S. Steel were sold to Japan's largest steelmaker.
Greenland's leader on Monday responded to President-elect Trump suggesting the U.S. should take ownership of the autonomous territory that's part of the kingdom of Denmark by making clear it's not for sale.
What they're saying: "Greenland is ours," Prime Minister Múte Egede said on Facebook. "We are not for sale and will never be for sale. We must not lose our years-long struggle for freedom. However, we must continue to be open to cooperation and trade with the whole world, especially with our neighbours."
The big picture: Shoppers are projected to spend between $979.5 billion and $989 billion during the Christmas season, per an annual survey from the National Retail Federation and Prosper Insights & Analytics.
The Consumer Financial Protection Bureau filed a lawsuit against Walmart and its fintech partner, Branch Messenger, over a worker payment program that allegedly forced last-mile drivers to open costly deposit accounts to get paid.
Why it matters: The CFPB is issuing a flurry of enforcement actions and rules proposals in the waning days of the Biden administration.
Why it matters: The deal values the luxury department store retailer founded in 1901 at $6.25 billion, ending a nine-month saga and giving Nordstrom a chance to right the ship as a private entity.
Why it matters: It is a first step toward possible measures, like tariffs, that might seek to squeeze China-made chips out of U.S. products. But with one month left in office, the fate of the investigation — and the ultimate remedies — rests with President-elect Trump.
