Business

US corporate bond sales hit $95 billion in busy week

US corporate bond sales reached $95 billion, marking the busiest week since the Covid pandemic, as companies seek to borrow ahead of an expected increase in issuance to finance artificial intelligence-related investments.

Rio Tinto revives $260 billion merger talks with Glencore

Rio Tinto has resumed discussions for a potential $260 billion merger with Glencore, aiming to consolidate operations in the competitive mining sector. This move could intensify pressure on BHP, the world's largest miner, to respond, as analysts suggest it may consider a rival bid or alternative acquisitions to maintain its market position. Talks are preliminary, with Rio having until February 5 to make a formal offer.

IAG appoints José Antonio Barrionuevo as CFO

International Airlines Group (IAG) has announced the appointment of José Antonio Barrionuevo as its new Chief Financial Officer, effective June 2026, succeeding Nicholas Cadbury, who will step down after more than four years in the role. Barrionuevo, currently the Chief Financial and Transformation Officer at British Airways, brings extensive experience in aviation financial management, having previously served as CFO of Iberia and held senior positions at JP Morgan and McKinsey & Company. This leadership transition is part of IAG's succession planning aimed at ensuring future growth and financial stability.

Honda Diversifies Semiconductor Suppliers to Mitigate Risks

Honda is diversifying its semiconductor procurement by sourcing from various suppliers both within and outside Japan to reduce its reliance on China and mitigate the impact of potential shortages. This strategy follows expected losses of hundreds of millions of dollars in operating profit late last year due to supply chain disruptions.

California billionaires oppose proposed wealth tax initiative

Silicon Valley billionaires are mobilizing against a proposed one-time wealth tax in California that would impose a 5% levy on fortunes exceeding $1 billion, potentially raising $100 billion over five years for public services. Notable figures, including Kraken co-founder Jessie Powell and venture investor Chamath Palihapitiya, have criticized the initiative, warning it could drive wealthy residents out of the state. Meanwhile, Google co-founders Larry Page and Sergey Brin have recently moved an entity linked to them out of California, highlighting concerns among the state's billionaires as the measure approaches a potential ballot in November 2026.