Author: Jack Mulligan

Commitment to Three-Nation Framework Canada and Mexico remain committed to a trilateral review of the United States-Mexico-Canada Agreement, even as Washington signals interest in pursuing separate bilateral arrangements. Dominic LeBlanc, Canada’s minister responsible for Canada-U.S. trade, reaffirmed that position after meetings in Mexico with President Claudia Sheinbaum and Economy Secretary Marcelo Ebrard. LeBlanc led a delegation of roughly 250 Canadian companies during the visit. “We both remain absolutely committed to the trilateral free-trade agreement,” LeBlanc said during a virtual press conference from Monterrey, while acknowledging that both Canada and Mexico are also addressing certain bilateral issues with the United States.…

Diesel Shipments Tied to Pipeline Dispute Hungary has suspended diesel deliveries to neighboring Ukraine as disruptions to Russian crude supplies through the Druzhba pipeline remain unresolved, Foreign Minister Péter Szijjártó announced Wednesday. Oil flows to Hungary and Slovakia have been interrupted since January 27. Ukrainian authorities say Russian attacks damaged the pipeline, which transports Russian crude across Ukrainian territory into Central Europe. Budapest and Bratislava, however, have suggested Kyiv is deliberately delaying the resumption of shipments, though no evidence has been publicly presented. Ukrainian officials have denied those claims. In a video statement shared on social media, Szijjártó described the…

Bank Reaches Settlement Over Pandemic Reporting Wells Fargo has agreed to pay $56.85 million to resolve a class-action lawsuit alleging that some customers’ credit scores were negatively impacted during the COVID-19 pandemic due to how the bank reported certain mortgage accounts. The bank denied any wrongdoing but chose to settle after plaintiffs claimed it violated the Fair Credit Reporting Act by improperly handling the reporting of mortgage forbearances. The allegations center on the early months of the pandemic, when borrowers facing financial hardship sought payment relief. According to court filings, some customers were placed into forbearance after communicating hardship or…

Board invites higher bid from Paramount Warner Bros. Discovery has entered a delicate balancing act, reopening limited discussions with Paramount while continuing to back its existing merger agreement with Netflix and urging shareholders to reject Paramount’s hostile offer. The board said it wants to hear Paramount’s “best and final proposal,” signaling that it is open to a higher price. At the same time, Warner is moving forward with plans to secure shareholder approval of its previously announced transaction with Netflix. The situation underscores the high-stakes maneuvering around a company valued in the tens of billions of dollars. Under the current…

Memory crunch fuels price concerns Gamers hoping for cheaper hardware or quick next-generation launches may be disappointed. Surging demand for memory chips used in artificial intelligence data centers is tightening supply of DRAM and NAND storage, pushing up costs for console makers and potentially delaying future devices. AI infrastructure expansion has absorbed vast quantities of RAM and solid-state storage, making it harder even for major technology companies to secure components at stable prices. According to Bloomberg, Nintendo is weighing a potential price increase for its $450 Switch 2, citing people familiar with the matter. The device already launched at a…

Geneva diplomacy ahead of second round Iran’s Foreign Minister Abbas Araghchi met Monday in Geneva with Rafael Grossi, director-general of the International Atomic Energy Agency, in a move seen as a prelude to renewed negotiations with the United States over Tehran’s nuclear program. The encounter comes one day before a second round of indirect US-Iran talks hosted by Oman. Araghchi also confirmed he would meet Omani Foreign Minister Badr al-Busaidi, whose government is facilitating the discussions. Writing on social media, the Iranian diplomat said he had arrived with “real ideas” for what he described as a fair agreement, while rejecting…

December brings first monthly decline since summer Industrial activity in the euro area contracted in December, ending a four-month stretch of expansion, according to new figures released by Eurostat. Output fell by 1.4% compared with November, reversing the previous month’s 0.3% increase and marking the first decline since August. The downturn was broad-based across most major industrial categories. Capital goods recorded the sharpest drop, falling 1.9% month on month. Energy production and non-durable consumer goods each slipped by 0.3%, while intermediate goods declined by 0.1%. Durable consumer goods stood out as the sole area of growth, rising 0.2%. Annual growth…

Federal Authority Invoked President Donald Trump announced Monday that his administration is taking control of the Washington, D.C., Metropolitan Police Department and deploying National Guard troops. He invoked Section 740 of the District’s Home Rule Act, which allows the president to temporarily assume control of the capital’s police if “special conditions of an emergency nature exist.” The statute limits this authority to 30 days unless Congress approves an extension. Trump appointed U.S. Attorney General Pam Bondi to take command immediately. Crime Rates and Conflicting Narratives Trump justified the move by claiming crime in D.C. is “out of control,” calling the…

American households have so far absorbed 22% of the extra costs from President Donald Trump’s new wave of import tariffs. Goldman Sachs projects that share will surge to 67% by October if current pricing trends hold. The tariffs include a 10% blanket duty on all imports, additional rates for specific countries, and targeted product measures such as those on automobiles. Businesses and Exporters Shouldered Early Costs Until midyear, U.S. businesses carried roughly 64% of tariff-related costs, while foreign exporters absorbed about 14% by cutting prices to remain competitive. That dynamic is shifting as companies pass more of the burden to…

OpenAI has launched GPT-5, its most advanced AI chatbot to date, described as “smarter, faster, and more useful” than its predecessors. The model promises PhD-level expertise in areas like coding and writing, improved reasoning, fewer inaccuracies, and a more human-like interaction experience. Its release marks a new chapter in the competitive AI landscape, where tech leaders race to offer the most capable chatbots. Advanced Capabilities and Reasoning GPT-5 introduces significant upgrades in reasoning, logic, and inference. According to OpenAI CEO Sam Altman, the model can build complete software solutions, provide detailed explanations, and deliver highly accurate answers. He compared the…