JPMorgan Chase reports fourth-quarter profit decline
JPMorgan Chase reported a fourth-quarter profit of $13 billion, down 7% from the same period last year, primarily due to a $2.2 billion charge related to its new partnership with Apple for the Apple Card. CEO Jamie Dimon noted the resilience of the U.S. economy despite a decline in investment banking revenue, while revenues rose 7% to $45.8 billion. The bank's shares fell midday as executives expressed disappointment in certain financial metrics.
Netflix Revises Warner Bros Discovery Acquisition Terms
Netflix is revising its acquisition terms for Warner Bros. Discovery, considering an all-cash offer to expedite the sale process amid a competing $108 billion bid from Paramount Skydance. The original agreement, valued at $72 billion in cash and stock, has faced political opposition and legal challenges from Paramount, which is pursuing a hostile takeover of Warner Bros. Discovery.
UK to Criminalize Non-Consensual Intimate Images
The UK government is set to implement a provision making it a criminal offence to create or request the creation of non-consensual intimate images, including sexually explicit AI deepfakes, as part of the Online Safety Act. Technology Secretary Liz Kendall announced that this change, which prioritizes the prevention of such material on online platforms, follows the Data (Use and Access) Act passed in June 2025. The move aims to address regulatory concerns over AI-generated sexual images and will require online services to take proactive measures against the dissemination of non-consensual content.
Saks Global files for Chapter 11 bankruptcy protection
Saks Global filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas, citing high debt levels following its acquisition of Neiman Marcus and declining department store sales. The company, which also owns Bergdorf Goodman, has secured a $1.75 billion financing package to support its operations during the restructuring process. Former Neiman Marcus CEO Geoffroy van Raemdonck has been appointed to lead the company, taking over from Richard Baker, who had recently assumed the role.
Caterpillar Market Valuation Exceeds $300 Billion Amid AI Optimism
Caterpillar Inc. shares surged, pushing the company's market valuation above $300 billion for the first time on January 13, 2026, driven by optimism surrounding its artificial intelligence capabilities. The stock rose as much as 2.4% to a high of $644.59, reflecting a 12% gain this year, as analysts upgraded their price targets amid strong demand for power generation equipment linked to the AI sector. Caterpillar's Energy & Transportation segment now accounts for nearly half of its total revenue, bolstered by a $39.8 billion order backlog and a recent $725 million investment to expand production capacity.
Investors Shift AI Focus to Energy and Infrastructure
BlackRock, the world's largest asset manager, reported that investors are shifting their focus from big tech companies to energy and infrastructure providers for artificial intelligence investments in 2026. In a survey of 732 clients in the EMEA region, only 20% identified major U.S. tech firms as the most compelling AI investment opportunity, while over half favored energy providers and 37% preferred infrastructure. BlackRock emphasized the need to manage risks associated with large-cap tech and AI exposure while seeking differentiated investment opportunities.
Rio Tinto explores acquisition of Glencore with advisers
Rio Tinto has engaged JPMorgan, Evercore, and Macquarie to advise on a potential acquisition of Glencore, a deal that could create the world's largest mining company valued at over $200 billion, according to a source. This move reflects ongoing consolidation in the mining sector as companies seek to secure essential metal reserves. Glencore has not yet retained an adviser for the potential transaction.
Nuclear Weapons Classified as ESG Compliant in EU
As of 2026, nuclear weapons have been classified as compliant with Environmental, Social, and Governance (ESG) criteria, prompting a significant increase in sustainable finance within the European Union. This classification applies to nine countries known to possess nuclear weapons, including the five recognized nuclear states under the Nuclear Non-Proliferation Treaty: Russia, the United States, France, the United Kingdom, and China, along with non-NPT states India, Pakistan, and North Korea, and the undeclared nuclear state Israel.
BP Warns of Up to $5 Billion Impairment Charges
BP has warned of potential impairment charges between $4 billion and $5 billion in its energy transition business, primarily due to weak oil trading performance and challenges in its low-carbon energy unit. The company, under new leadership including Chair Albert Manifold and incoming CEO Meg O'Neill, is shifting spending from lower-carbon projects to oil and gas to enhance profitability. Despite these impairments, BP stated they would not affect its underlying replacement cost profit, and it expects oil and gas output to remain stable at approximately 2.4 million barrels of oil equivalent per day.
