The U.S. and China appear to have struck some sort of trade deal, with both sides promising details on Monday.
Why it matters: The trade war between the two largest economies brought the world to the brink of recession, and threatened to scramble the global economic order.
One of Canada's largest asset managers is being accused of misleading limited partners in some of its private funds, as part of a wrongful termination suit brought by a Silicon Valley investor who led its growth equity business until last November.
Why it matters: The complaint alleges that maintaining AUM was valued over the best interests of those supplying the A, which has long been a tacit worry of LPs investing with publicly traded firms.
Nestlé has hired investment bank Rothschild to find a buyer for its bottled water business, which could fetch more than €5 billion and includes the Perrier and S.Pellegrino brands, according to Reuters.
Why it matters: The Swiss food giant announced plans to separate the water business last fall, but now is at the center of a brewing political scandal in France over filtering techniques some of its its Perrier facilities.
Treasury Secretary Scott Bessent on Sunday said U.S.-China trade talks had made "substantial progress," after President Trump said the negotiations led to a "total reset" in the two sides' trade relationship.
Why it matters: An actual reset — with sharply lower tariffs or none at all — would be the relief businesses and investors have been praying for from a trade war that has already significantly damaged the economy.
Baseline global tariffs of 10% are likely to stay, Commerce Secretary Howard Lutnick said Sunday — but he insisted countries and businesses, and not consumers, would pay.
Why it matters: Economists generally disagree, and sentiment surveys say consumers don't believe it, either.
The clock started ticking on a financial time bomb this week for student loan borrowers — those in default will now be referred to debt collections.
Why it matters: Because of the messy state of the student loan world, the economic fallout could be far more widespread than anticipated, hitting some who typically would be able to pay back loans.
A federal judge in San Francisco temporarily blocked the White House from firing hundreds of thousands of government employees in a ruling late Friday night.
Why it matters: It's the latest and broadest setback for President's Trump and DOGE's chainsaw efforts to radically slash and burn the federal government.
