THE HOT STORY

U.S. services growth hits eight-month low as demand and hiring weaken

U.S. services activity slowed in December, with the S&P Global Services PMI falling to 52.5 – its weakest reading since April, but above the 50-mark separating expansion from contraction – as new business inflows and hiring momentum faded. Export demand contracted sharply, and employment growth stalled for the first time in nine months. Rising input costs and tariffs drove the fastest increase in service prices since August, while business confidence softened amid growing concerns over policy, affordability, and economic resilience heading into 2026.

Trading View

ECONOMY

Tariff decision could come as soon as Friday

The Supreme Court has scheduled Friday as an opinion day - offering the first chance for a ruling on President Donald Trump’s global tariffs. The justices take the bench at 10:00 a.m. Bloomberg says a tariff decision is a possibility given the court’s expedited handling of the case to date. “We have a big Supreme Court case,” Trump told House Republicans Tuesday. “I hope they do what’s good for our country. I hope they do the right thing. The president has to be able to wheel and deal with tariffs.”

Bloomberg

WORKFORCE

Canada's Air Transat pilots ratify five-year contract

Pilots at Air Transat in Canada have successfully approved a new five-year contract, ensuring improved working conditions and benefits. The agreement follows extensive negotiations. Both parties expressed their satisfaction with the outcome.

Reuters

Trump to meet with health insurers 'in a few days'

President Donald Trump said on Tuesday that he would meet with representatives from every health insurance company soon. "I'm going to meet with them in a few days, I'm meeting with them all: 14 companies," Trump told U.S. House Republicans in Washington. Last month, Trump said he wanted to talk to health insurers about lowering their prices.

Reuters

HIRING

Private equity firms launch delayed recruiting drive after summer outcry

Private equity firms have launched an abrupt round of January interviews after last year's summer hiring drive piqued banks who said they would terminate junior analysts for accepting future-dated jobs.

Financial Times

LEGAL

Federal judges repeatedly scolded DOJ lawyers in 2025

Federal judges repeatedly criticized Justice Department lawyers for their courtroom conduct in 2025, highlighting issues including misrepresentations and legally flawed arguments. Judges are questioning whether the government should still receive the “presumption of regularity,” a doctrine that assumes proper government action in court.

Bloomberg Law

CORPORATE

Sprinkles Cupcakes closes all locations

National bakery chain Sprinkles Cupcakes has closed all its company-owned locations after 20 years. Candace Nelson, the chain's founder, expressed her disappointment, saying: "I thought Sprinkles would keep growing and be around forever." The closures were announced by KarpReilly LLC, the private equity firm that acquired the company in 2023. While the chain's website displays a message saying, "We'll be right back!", it remains unclear if franchise locations will continue to operate. As of 2023, Sprinkles had around 70 franchise locations.

Al.com

TECHNOLOGY

AI boom signals early bubble phase, warns Bridgewater founder

Bridgewater Associates founder Ray Dalio has cautioned that the current AI boom may be in the early stages of a financial bubble, as investor enthusiasm has significantly driven up technology stock prices. Despite a record-breaking year for U.S. equities in 2025, Dalio observed that non-U.S. stocks and gold outperformed their U.S. counterparts, indicating potential risks in the market. As concerns about this bubble grow, analysts suggest investors may shift their focus towards undervalued areas of the financial landscape.

Reuters

Neuralink to begin mass production of brain implants in 2026

Elon Musk has announced that Neuralink is set to commence "high-volume production" of its brain-computer interface devices in 2026, transitioning to fully automated surgical processes. These implants aim to assist individuals with severe conditions, including spinal cord injuries, allowing them to control digital devices through thought. Since the start of human trials in 2024, twelve patients have successfully used the implants for various tasks, following initial safety concerns that delayed their development.

Reuters

INTERNATIONAL

Labubu maker Pop Mart opens new Mexico hub

Pop Mart International Group has launched a new manufacturing hub in Mexico to meet rising demand for collectible toys in North America. The facility complements existing factories in Cambodia and Indonesia, and enhances the company's supply chain beyond China and Vietnam. Pop Mart, which collaborates with manufacturing partners, has seen a surge in demand for its Labubu dolls since their global debut in 2025.

Los Angeles Times

Hong Kong accounting firms plan hiring spree

KPMG, Deloitte and EY are expanding their respective workforces in Hong Kong, as they aim to attract new accountants while integrating artificial intelligence to enhance efficiency. Andrew Wong, partner at KPMG China, said: "We do not believe AI is a replacement for humans," as he highlighted that AI in fact complements human roles. Derek Lai from EY noted that AI tools are essential for attracting young talent, especially in debt restructuring, where efficiency is crucial.

South China Morning Post

OTHER

Delaware courts consider pet custody battles

Delaware’s Chancery Court, the country’s premier corporate law court, now finds itself being pushed into pet custody fights. Bloomberg reports on how a conflict over the ownership of a goldendoodle named Tucker is highlighting an emerging area of animal law where property rights and society's evolving perception of pets as family members intersect, with some states allowing courts to consider a companion animal's "best interests" in disputes.

Bloomberg

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