Category: finance
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Six Candidates Vie to Replace ECB Vice President Luis de Guindos
Six candidates are in the running to replace Spain’s Luis de Guindos as European Central Bank (ECB) vice president, with eurozone finance ministers expected to nominate one on January 19, 2026. The position becomes available at the end of May when de Guindos’ term expires, marking a key moment in the ECB’s ongoing leadership transition.
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US Treasury Says Overseas Money Transfers Are Permitted if Fund Origins Are Proven
U.S. Treasury Secretary Scott Bessent clarified that increased scrutiny of overseas money transfers will not penalize individuals who can prove the legitimate origin of their funds. The announcement comes amid a crackdown on federal social benefits abuses in Minnesota, targeting both money services businesses and banks under investigation for potential money laundering. FinCEN Expands Oversight
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US Banks Eye Investment Opportunities in Venezuela Amid Sanction Rollbacks
U.S. banks are closely monitoring Venezuela’s oil sector, as selective easing of sanctions opens potential opportunities for investment and trade financing. Among financial institutions, JPMorgan Chase appears particularly well-positioned to take advantage of the evolving situation due to its longstanding presence in Venezuela and prior experience in international trade financing. JPMorgan Could Reactivate Venezuelan Operations
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US Job Creation Slows in 2025 to Weakest Level Since Covid Pandemic
Job growth in the United States slowed dramatically in 2025, as employers added only a modest number of new positions, marking the weakest annual job creation since the Covid-19 pandemic. According to Labor Department data, the economy added just 50,000 jobs in December, slightly below market expectations, while the unemployment rate edged down to 4.4%.
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EU Reaches Historic South America Trade Deal After 25 Years of Negotiations
The European Union (EU) has reached a landmark free trade agreement with South America’s Mercosur trading bloc — a milestone that comes more than 25 years after talks first began and marks the largest trade accord the EU has ever negotiated. Mercosur includes Brazil, Argentina, Paraguay and Uruguay, and the deal now needs approval from
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US Calls Argentina Peso Intervention a “Homerun Deal” After Successful Repayment
The United States government has hailed its financial intervention in Argentina’s currency as a resounding success, describing it as a “homerun deal” that stabilized the peso and delivered profits to American taxpayers. The announcement highlights a rare case of US involvement in foreign currency markets paying off amid global financial volatility. Treasury Secretary Bessent Confirms
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Elon Musk’s xAI to Invest $20 Billion in Mississippi Data Center Amid AI Boom
xAI Plans $20 Billion Data Center in Southaven, Mississippi Elon Musk’s AI startup xAI is set to invest more than $20 billion to build a massive new data center in Southaven, Mississippi, according to Governor Tate Reeves. The move comes as generative AI continues to drive record demand for computing power and expansion of AI
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Nvidia, Automakers, and Suppliers Rekindle Self-Driving Ambitions with AI Partnerships
AI and Partnerships Spark Renewed Momentum in Self-Driving Cars The self-driving car industry, long plagued by high costs, regulatory hurdles, and technical delays, is seeing a resurgence as chipmakers like Nvidia and major automakers form partnerships to accelerate deployment. At this year’s CES 2026 in Las Vegas, Nvidia unveiled its next-generation Alpamayo AI platform, aimed
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Meta Strikes 20-Year Nuclear Power Deals to Secure 6.6 GW of Energy
Meta Signs Long-Term Nuclear Power Agreements with Three Companies Meta Platforms (NASDAQ: META) announced on Friday that it has finalized 20-year power purchase agreements (PPAs) with three nuclear operators in the U.S., including Vistra, and will help develop small modular reactors (SMRs) with Oklo and TerraPower. The deals mark one of the largest corporate commitments
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U.S. Oil Firms Weigh Venezuela Investment Opportunities Amid Political Risks Ahead of White House Summit
U.S. Oil Executives Consider Venezuela Opportunities Amid Investor Caution U.S. oil companies are carefully evaluating investment opportunities in Venezuela as they prepare for a high-profile White House summit on Friday, convened by President Donald Trump to discuss the country’s energy sector recovery. While the potential for revenue from Venezuela’s vast crude reserves is significant, investors
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