Democrats on the House Judiciary Committee are investigating FBI Director Kash Patel's reported use of a government jet to visit his girlfriend and take other personal trips, Axios has learned.
Why it matters: Patel's leadership of the nation's principal federal law enforcement agency has been under intense scrutiny since before he was even sworn in, and this adds more fuel to the fire.
New York City is getting three new casinos — including one expected to be located next to the New York Mets stadium — in a major expansion of legal gambling.
Why it matters: The gambling industry has long been eager to tap into the biggest city in the U.S., a hallmark of wealth, capitalism and risk taking.
Goldman Sachs on Monday announced plans to acquire Innovator Capital Management, an Illinois-based provider of defined-outcome ETFs, for $2 billion in cash and stock.
The big picture: Defined-outcome ETFs are becoming increasingly popular among investors (and financial advisors) who want to protect against volatility.
Odds are buildingthat President Trump will appoint White House economic adviser Kevin Hassett as the next Federal Reserve chair.
Why it matters: The pick would put a Trump loyalist in the world's most powerful economic policymaking seat, allowing him to push for the much lower interest rates the White House has been demanding.
Hassett would have closer ties to the sitting president than any Fed chair appointee has had in modern times.
The U.S. and Britain addressed a key unresolved issue in their trade agreement on Monday when the Trump administration agreed to exempt U.K. drug imports from tariffs for the rest of President Trump's term.
Why it matters: Trump's habit of announcing trade deals without offering specifics left unclear the status of medicines that make up nearly one-fifth of U.K. exports, including treatments from manufacturers like GlaxoSmithKline and AstraZeneca.
What's inside: In exchange for the tariff relief, Britain's national health system will increase the net price it pays for new medicines by 25%.
The deal exempts U.K. pharmaceuticals, pharmaceutical ingredients, and medical technology from so-called Section 232 tariffs on individual sectors like pharmaceuticals.
The U.S. also won't target U.K. drug pricing practices in any future investigations under its trade authority while Trump is in office.
Britain will change the way it calculates which drugs are cost-effective for its National Health Service, Reuters reported, citing unnamed sources.
The U.K. now pegs the cost of a treatment to each year a drug adds to a person's life, weighted by how well a patient feels during those extra years.
The upper limit is 30,000 pounds ($39,789) per year.
What they're saying: "When nations fairly share the burden of producing and paying for life-saving medicines, every citizen gains, and the fight against global disease becomes one we can actually win together," Chris Klomp, deputy administrator of the Centers for Medicare and Medicaid Services and a lead negotiator of the agreement, said in a statement.
Between the lines: Both GlaxoSmithKline and AstraZeneca have announced tens of billions of dollars in new U.S. investments in recent months.
AstraZeneca also committed to Trump's "most-favored nation" pricing — the lowest price the drug sells for in other wealthy countries — for Medicaid and newly launched drugs in the future.
Trump's insistence that Americans are paying more for drugs than people in the U.K. and Europe ratcheted up tensions between pharmaceutical manufacturers and the U.K. government over drug spending levels and approval rates, the BBC reported.
Institutional investors are doubling down on gold and sticking with Big Tech heading into 2026, per a new Goldman Sachs survey of more than 900 clients.
Why it matters: The results could indicate that the recent pressure in gold and tech is temporary rather than a broader hit to long-term conviction on both asset classes.
President Trump said Sunday he's decided who he'll nominate to be the next Federal Reserve chair, but he wouldn't be drawn on whether the pick is National Economic Council director Kevin Hassett.
The big picture: Current Fed Chair Jerome Powell has faced months of complaints and demands from Trump to lower interest rates and his term is due to expire in May.
The country's penny supply is collapsing far faster than expected — forcing retailers into rounding workarounds, cash-register math headaches and what some describe as a "legal minefield."
Why it matters: The end of penny production was supposed to simplify cash payments. Instead, it's colliding with the holiday rush and legions of math-averse Americans.
Another year into society's great ChatGPT experiment, AI is proving adept at amplifying workers' productivity, or taking over work altogether.
Why it matters: OpenAI first released ChatGPT on Nov. 30, 2022. Three years later, every worker's future hinges on avoiding automating themselves out of a job.
